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Is 1.5% standard brokerage from full broker services for share trading in ASX and NZX? I usually make my own decisions based on their reports.
I know the question has been asked before, but services change, since discount brokers have similar fees, does any one stand out from the others?
I use two brokers. One charges me 1%, minimum $40, the other is 0.8%, minimum $60. I'm paying way too much, but I don't do many transactions, so it hasn't been worth changing...
However, I did start out at 1.5% and negotiated down at a later stage.
I would have thought discount brokers would be considerably cheaper than this (and it is on my "to do" list...)
1.5% is quite a bit. 0.8% to 1% isn't so bad for a full service broker. With volume you should be able to get cheaper than that too.
Having a friendly full service broker can be useful in those brief interludes where floats and new issues make for easy gains.
A discount broker is substantially cheaper than this and probably worth the switch as long as you are happy with receiving average, sub par and sometimes non existent service re floats.
looking at discount broker websites, direct looks very straight forward.
As a DPC shareholder, I favour Equity and Direct Broking - both Dorchester subsidiaries. Not being a frequent trader I mainly use Equity - normally pay 1% brokerage or $25 minimum. Very efficient and good to deal with IMO. Also get a free sub to NZ Investor Monthly and you can often get an extra 0.25% on fixed interest products. A good deal all round.