ASB vs ANZ securities

[hummerh40]

There appears to be a huge commision difference between the two, with ANZ charging $29.90 + 0.4% of the trade whereas ASB charges either 0.3% or $30 whichever is greater.

I have thus far been using ANZ (formerly known as Direct Broking), but am considering switching to ASB because of this vast difference in fees.

My questions is whether there are any other factors worth considering, or, why would you choose one over the other?

[777]

ANZ are $29.90 up to $15000.

For trades for New Zealand listed securities (other than debt securities) with a trade value exceeding NZ$15,000:
(i) for the first NZ$15,000; plus NZ$29.90
(ii) for the portion of the trade value exceeding NZ$15,000 0.20%


Last time I compared them ANZ was slightly cheaper.

You may like to look at it again.

[hummerh40]

ANZ are $29.90 up to $15000.

For trades for New Zealand listed securities (other than debt securities) with a trade value exceeding NZ$15,000:
(i) for the first NZ$15,000; plus NZ$29.90
(ii) for the portion of the trade value exceeding NZ$15,000 0.20%


Last time I compared them ANZ was slightly cheaper.

You may like to look at it again.

Thats for the OMCA account isn't it? If you scroll down, you will see the Standard Rates

[777]

Why would you not have an OMCA account?

No fees charged on an OMCA account. I have three.

And I think you will find that ASB will require the equivalent account to get the rates you are quoting.

[hummerh40]

Thanks mate, I never considered an OMCA account since I only trade on the NZX but yes I see, it would be beneficial even then as the rates are considerably lower.

[hummerh40]

I see, this may be used as a "trading account". No withdrawal fees either as far as I can tell.

[777]

Pays 3.25% interest and gets you the lower broking rate providing you have the funds for your purchase covered.

[RGR367]

Pays 3.25% interest and gets you the lower broking rate providing you have the funds for your purchase covered.

Does ANZ offers a Margin Lending rate account?