Has been good with me. Updating quickly, I put a buy order in for SPK this morning, it showed in the Bids in less than a minute, 5 minutes later the trade was complete & 15 minutes after that my contract note arrived in my Email.
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Has been good with me. Updating quickly, I put a buy order in for SPK this morning, it showed in the Bids in less than a minute, 5 minutes later the trade was complete & 15 minutes after that my contract note arrived in my Email.
Placing orders on ASX is abysmal and it seems that a Limit Order status is returned when their ASX broker accepts the order but this is before the order has actually been placed on the ASX. This is shonky and deceptive.
I would very much like to open an account with an Aussie broker and also need an Aussie bank account for this. I used to have a bank account but it was closed by nthe bank when the anti-money laundering rules came in. I have not yet found how I can get a new account since I am not Aussie resident. Can anyone give advice on this?
silverback, like a lot of others I suspect, i use CBA and CommSec. no problems joining both as an NZ resident, they've been good to deal with, and no issues. the only thing I don't like is they off-market matching of your orders - not always thru the exchange, but does happen quickly.
Thanks jg, I will check it out. Others I looked only accept AU residents.
yes, I use commsec too, also no issues
Do you deal directly with commsec? Or via ASB Securities?
ASB Securities sign you up with a Commsec account too. Their web site says:
Quote:
If you buy Australian shares through us, your shares will be held by Commonwealth Securities in your name and registered to your Holder Identification Number (HIN). This is known as a CHESS-sponsored holding. If you have share trading accounts with different Australian brokers, you’ll have a HIN for each broker. When you join ASB Securities, we also register you with Commonwealth Securities so you can trade on Australian markets
ASB use Commsec but charge their own fees, etc. What voltage and I are suggesting (and doing) is bypasssing the middleman and using Commsec direct. I suspect there are quite a few people in that category.
I have a Commsec account (CDIA - Commsec Direct Investment A/c I think it stands for), and a bank account at CBA. I can log onto CBA or COmmsec, and access all accounts etc and broking thru that one log-in. I pay no bank or account fees, and get minimal interest (~2% pap), and get pretty reasonable broker rates.
yes i have 2 brokerage a/c's in aus by passing nz brokers and brokerage is great .1% commissions on asx trades
I deal with commsec direct. You need a CBA bank account. Did this on a trip to Australia. I may be wrong but you may need a physical address, I use a relative over there for this. Commsec is not the cheapest but the cheapest is not always the best as indicated by couta1.