Is anyone else finding that the ASB system has been incredibly slow the last couple of days?
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Is anyone else finding that the ASB system has been incredibly slow the last couple of days?
yep.slow as. I thought it was my computer
Almost unusable
Anyone else having trouble with the system today? I'm having problems logging on - says system is temporarily unavailable.
Service will be affected tonight too as they are carrying out maintenance from 6:30pm till 8:30pm.
Have'nt they just changed to straight thru trading on NZX shares - no manual intervention.
Wonder if this has affected speed etc
Is it just me, or is the system unbearably slow today? I tried quitting my browser and starting over, but it took several minutes just to try and logon - and now I have a runtime error while trying to access my portfoloio!! Grrrrrr.....
no, not just you. This is a regular event. I don't know why I put up with them - actuallu I do. Because I am too lazy to change and I like the security of having my money market account with a bank (remembering the access brokerage disaster).
Has anyone else heard the rumour that ASB is looking to get out of the securities business?
Might be a blessing in disguise for us long suffering "customers".
Can't get on to the system today! Error .. error .. error.
I hadn't heard that rumour - must investigate. I like the convenience of the one-stop-shop with ASB.
Anybody got any recommendations for other online platforms?
I cant see ASB getting out of the securities market, espicially since CBA seems to keep pushing and pushing their product over in AUS...if anythung ASB would be upgrading to the webiress platform im the future from their current web based platform (which is rubbish compared to aussie brokers)
I see that ASB are in the process of upgrading their site. The demo looks good and certainly an improvement. They have a blog where you can make suggestions which is a good start. From the Demo one well might be able to do everything for the NZ AX from the one site.
Rod
Ouch - that big figure on the Portfolio View showing the percentage your portfolio is 'up' or 'down' by is handy - but just a little depressing atm. It's so big and so red.
Wish I had used it more often. Can't say Phaedrus didn't tell us.
I just need to vent about the new ASB securities website. I have given it some time as new things take time to adjust to. The only improvement I can see is the volume on the watchlist. How do you get the watchlist to show alphabetically?
There used to be historical figures for companys which has gone.
The whole revamp seems to be about reducing service and getting people to the buy sell screen as quickly as possible. I think it is a backwards step from the old website.
I have only ever used ASB securities. Does anyone know how they compare in regard to research with other online brokers?
also as awkward as anything to get from chart to chart (not that their charts have any useful indicator control...so I don't know why I am complaining)
Has anyone had any luck negotiating the comission/spread on the retail NZD/AUD rate?
I havent tried, but they should be giving us closer to wholesale rates. I do it through my workplace when i want to transfer funds, every hundred bucks here or there counts.
Anyone know what the red exclamation mark on the left side of a stock in the automated portfolio means? I called ASB and asked them a while back and the lady didn't know - went and asked someone and came back and said it probably means there's an announcement but that can't be correct as I've got marks with no announcement. My guess is it's something to do with a percentage change in the stock but not sure what.
im glad they have finally got a working up to date news feed on their home page. about time
Recently i made a buy order on some shares and it was only partialy fulled. The next day the price increased to a price i didn't want to pay and i decided i wanted to put the funds into a different company so i amended the order to a low price that it's not going to go to for just 1 share. So that if i decided to buy this company in the next week or so i wouldn't have to make another order and incur the $30 trade fee.
Does this work? Or am i charged $30 everytime i amend the order? If an order buys through two trades is it still 1 fee?
Wolf - just one fee.
Anyone have an exclamation mark next to purchases in portfolio? I'm assuming its to let me know its new
See Cricketfan's post above
Cheers timmy
Looking for feedback on recent experience with ASB Sec. Sold a security for $30k . Partially sold on 25 March(settlement date 28th) with remainder sold 27th March(settlement 1 April). No funds in my CMA as of this morning so contacted ASB and after approx. 1hr got back to me to report funds now in CMA. I won't go into details of my ensuing discussion needless to say not impressed as I needed the funds to complete another transaction. Anyone else ever stuck this issue b4.
Yes, I have had a few of those, but it only impacts if you want to take the funds out of your CMA. If you want to trade again, you can actually do it as soon as you sold the shares, i.e. 3 days before settlement. That is standard for on-line as far as I know.
The excuse I got was the automated transaction failed.....really? so where is the manual back-up?
In the event you had a buy to settle the same day from those proceeds, I bet manual intervention would miraculously appear
Hi X
Thanx for response. I understand how settlement works, but in this case my ensuing transaction was not anything to do with ASB. What annoyed me was that this should never happen. They have since phoned me to apologise and offered me a $30 voucher from my next trade(in other words a free trade up to the $30 parameter).
Anyone else having issues today? My laptop and desktop are having seizures just trying to load the depth and announcements
It's OK for me Okebw
NZD/AUD rates
I hold mostly ASX listed shares. However I am finding the exchange rates upon trade execution extortionate, and is nowhere near live rates. It eats into profits and I am having to try and factor this extra expense before I sell to ensure I hit my profit target? Does anyone else think they overcharge and milk the exchange rate for profit? Rates between 0.90 and 0.94 common.
I sold one holding on wednesday 23rd at an exchange rate of 0.9375 when the actual rates on that day were in the range 0.9201- 0.9186.
Any reason why you converting back to NZD$ all the time?
Open a FX AUD account with them and only transfer back what you need if any
See this thread http://www.sharetrader.co.nz/showthr...ASB-securities
[QUOTE=Jay;494063]Any reason why you converting back to NZD$ all the time?
Open a FX AUD account with them and only transfer back what you need if any
Simply because I trade NZX and ASX so its handy to have one central account having two accouts would be neccessary if ASB were honest with their exchange rates.
I have traded Forex, and know have narrow the real pip margins are, less than 5 mostly, not hundreds like ASB are adding to each trade.
That isn't Margin, and they are not being open about their ASX dealing.
Example, say the rate is 0.9 AUD per 1 NZD when buying on ASX, then you'd expect the reverse rate of 1.1 NZD per 1 AUD if you sold on the same day at the same rate, give or take a FEW pips. Surely!
I got 0.93 instead of 1.07 on a recent sale, so my $700 profit ended up just over $300. ASB applies Sub 1.0 rates on buys and sells, spreads as wide as 3000+ pips on dealing with them.
Am I missing something, or is it really that much of a con?
I shall be having a long talk with them tomorrow, and would like them to explain their spreads, margins to me..
They don't list it in the manner you'd expect. I think you'll find that 1 : 0.93 was the NZ:AUD rate at the time.
So going buy the exchange rate at the time I should receive $1.10 NZD per AUD but received $1.075 after ASB's commision.Quote:
Details are as follows:
Consideration:
ASB Brokerage: AUD 15.18
CommSec Brokerage: AUD 14.82
Total Credit AUD 7,635.00
NZD 8242.47
Exchange Rate: 0.9263
Settlement Credit
Settlement Instruction: Cash Management Account
Settlement Date: 01/08/2014
They are exorbitant but no where near your math is making them out to be
"Thank you for your email.
When you trade on ASX market settling to your NZX Cash management account, at the time the order gets traded, the settlement amount is calculated with the FX rate at that time. Unfortunately, we are unable to provide you details on how our rates are calculated and what margins are charged on this.
There is an option to open a foreign currency account (FCA) available in our share trading account opening application. Should you wish to open a FCA, please call us on our broker line to enable us to identify you and get it set up for you. There are no accounts fees as such on the Foreign Currency Account except for International Money Transfer fee, Foreign Draft & cash withdrawal at a branch.
The procedure for transferring funds with a currency (FCA AUD to NZD) involved is to call us to enable us to identify you and as per your request, we will let you know what the indicative FX rate is (this changes every 30 seconds). If you are happy with the rate we can then proceed with the transfer. There are cut off times for FX currencies but we can lock the rate for the next business day. Alternatively, you can do an online FX transfer through internet banking.
If the value of your transaction is over NZD 100k, please call us to do the FX transfer. We have to call our Dealers to provide us a rate and we are able to shave the margin for you.
Please also note under our ASB Securities Terms & Conditions, section 12.3 its states that “ ASB Securities may at its absolute discretion charge you a commission or margin on all foreign exchange dealings” Also when you placing the order there is print stating “You should be aware that investment in securities involves risk including (but not limited to) currency and market fluctuation. ASB Securities is not liable for any loss or expense incurred as a result of any investment decision made.”
Should you have any further queries, please do not hesitate to contact us. "
So there you have it. Unable or unwilling to disclose rates or how they calculate. So when you pres the buy or Sel Buttons, you are at their mercy.
ANZ however clearly states how they do it they take an average for the buy/sell rate , then multiply by 0.89 to give a margin figure
[QUOTE=mbrook;494638]1) If you've traded Forex were you trading actual spot delivery, or simply futures/contracts for difference? If the latter then the spread is significantly lower.
2) You've quoted a rate of the day / time (not sure of your source) however that's probably just an estimate of the mid-rate so you are missing the bid-ask spread. In your example you are crossing the spread twice by going from NZD to AUD and back. Your example also doesn't take into account intra-day movements.
3) Depending on the amount of cash in your account they will be applying a 'shading' to your spread so you shouldn't ever expect Forex futures like spreads..
Don't know how that happened whip, but it looks like I said the above when I did not:confused:
What a day to not be able to get into the ASB Securities website. It would have been terrible if I wanted to panic sell. A call to ASB Securities and they tell me they will call IT about it.
I thought maybe a few extra nervous investors may have crashed the system. Has anyone else had trouble logging on or know why we can't log onto ASB Securities website.
I would hate to be a trader and have it crash in a crash.
Trading system unavailable-rest of ASB system working****.
ASB brokerage fees changed today:
New Zealand trades (excluding fixed interest trades) $15 (up to and including NZ$1,000) $30 (over NZ$1,000 and up to and including NZ$10,000) 0.30% (over NZ$10,000) Australian trades 0.30%
minimum AU$30 per trade
Hardly encouraging is it - how many trades do they get in a day that are under NZ$1000 I wonder and why no reduction on AX trades !!!!
Fair enough justakiwi - anything that helps is always good...
Agree with justakiwi. Although I try not to do too many low value trades, if I am looking to top up on a lower priced share this might swing the calculations in favour.
I usually calculate what the brokerage will work out per share, and then decide whether it is worth it. At $15 brokerage, buying (for example) 1060 OCA at $0.94 would work out to an extra 1.4 cents per share instead of nearly 3 cents if the brokerage was $30.
Anyone else can't log into today?.happens far to often imo. GRRRR. Will have to look at other options again. If i have say 20 trading stocks is it easy to transfer them to another online broker?
What is there to transfer? Surely you just trade the same stocks through a different broker.
A pain to me not accessing all my trades I've set and prices and profits /losses etc. Amateur website operators.
Have used ANZ Securities for 5 years now and are pretty happy with their service. Cant see any reason to use ASB.
ANZ website a bit flakey the way it updates. Eg bought PPH this morning. First few went through early. Rest went through mid morning. my Portfolio updated pretty much straight away but my order book still shows the order as incomplete. No idea how long it takes to process funds but my buys yesterday are in my portfolio but the cash is still in my account.
Wonder if ASB reads this thread? A nice young lady just phoned me and offered me free tickets to the tennis for being so patient:t_up:. I declined.
ANZ not taking ASX trades. down for the past hour....
ASB Securities is as slow as a wet week to update!! What a f*cking joke!! I'm trying to trade and when I ring these pr*cks they claim they don't know anything about it & no trader is saying anything!! Almost impossible to trade on the ASX now!!
I cant see the depth of the stock unless I go through the buy or sell screens? what's going on? who else can I move to?
I do a trade, and it goes through, and the # of shares don't even come of the sell side on my ASB platform or the ASX, and the market isn't even updated as to the current price.
The ASB chap I ring takes about 7 or 8 minutes even to comprehend what I am talking about.
I reckon it's since these guys started offering $15 brokerage for NZX trades.....it's like they want to drive people to the NZX or something, and ASX trading has packed up. I don't give a f*ck about the NZX!!
I have noticed this problem with ANZ also of late, once your trade becomes a limit order, it can take 5 mins or so for your order to show up in the buy or sell depth column, by the time it shows up things have often changed and you have to edit the order and start again, this never used to be the case, I'm talking the NZX in my case.
Anyone ever seen a discrepancy between the amount of shares in one particular stock in your portfolio on ASB Securities, and the amount that Computershare are showing?
Even accounting for the fact that today's trades will only show on Computershare tomorrow, I'm still showing a difference of about 13,500 shares on this stock.
How do I sort this out? Really pissed off....
Its always been instant for me unless ive partaken in a cap raise or spp when i have to manually load the new number myself.
Any movements Computershare show will be 2 days behind whatever trading you do. You settle (NZ stocks) in T+2. So if you buy 10,000 FBU today they will show up at computershare on 1 March when they are transferred by your broker to the registry and the broker takes your money on this day too. (that was a bit of an oversimplification but that is sort of how it goes)
It's a pain that you have to buy or sell to get the depth.
Do any of the other brokers give you the depth without having to place an order.
The depth issue is discussed in this rather useful summary on ASB Securities
- If a user hasn't placed a trade in 3 months, ASB Securities cuts of live data, including depth and delayed depth.
- However, live market data and market depth is always available in the ‘place an order’ process during market hours - share investors will have access to the latest stock pricing information to help with making trading decisions.
Anyone else having issues with opening up ASB securities page coming up with new NZX regs which i agree with but it wont let me click on the agree ??
Yep finally sorted
yep got it sorted .. which was good timing as got more funds to invest
Anyone having trouble with placing an order - won't go thru is it just ASB or is NZX to blame??
Yep, I'm having trouble. Finally managed - after a long wait - to speak to someone. It seems it is with the ASB system. When I spoke to them he said Australian orders were going through, though notifications weren't coming back the the ASB platform and NZ orders would have to be done by phone. I think it has got even worse since I was talking to them not long ago - it now looks as though all order have to be made by phone.
Hopeless, timing was so important today but... :t_down::t_down:
Cant access any of my portfolio let alone trade any!.
What an absolute disgrace. They have obviously just pulled the pin on us. Totally unreliable service. Will they pay compensation to customers for losses incurred today?? They won't answer the phone, their platform is dead, absolutely sh*te service.
Is this a datacom meltdown again?
Trouble is NZ is served by only one other on line trading site now isnt it?
But it might just be time to move.
It is customer service 101 that you answer your phones and deal with your customers.
This is a very dire situation and heads should roll. Nothing in the NZ media as yet that I can see. The manager of ASB Securities should be held to account. Do these pr*cks think they are too much of big shots to handle this situation??