Looking for a cheap broker to trade ASX

Hi guys

Hope this is the appropriate place to post my query.

I'm currently trading the ASX through ASB Securities but feel like I'm getting gauged on brokerage at $30 AUD /transaction.

Does anyone know of a cheaper Australian broker that will allow a NZ citizen, residing in NZ to trade?

Bell Direct would be my first choice but under their terms you have to reside in Australia and provide an address. Considering calling my friend in Sydney and asking for a favour..

Thoughts?

Thanks

I should add, I've looked at Interactive Brokers which look great, but don't have enough money to meet the capital requirements.

ANZ Shareinvesting (the old Etrade) is cheaper at around $20 a trade and I use that. I also used Interactive Brokers for some years ie a US account and that cost around $6 a trade, but you're right you need at least $US10K I think these days.

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Originally Posted by denpal

ANZ Shareinvesting (the old Etrade) is cheaper at around $20 a trade and I use that. I also used Interactive Brokers for some years ie a US account and that cost around $6 a trade, but you're right you need at least $US10K I think these days.

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Thanks! I'll check it out. Did you have any issues opening the account residing in NZ?

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Originally Posted by levin123

Thanks! I'll check it out. Did you have any issues opening the account residing in NZ?

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I also have been using E*Trade aka...ANZ share invest,,,,, for many years nil issues about being NZ res

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Originally Posted by levin123

Hi guys

Hope this is the appropriate place to post my query.

I'm currently trading the ASX through ASB Securities but feel like I'm getting gauged on brokerage at $30 AUD /transaction.

Does anyone know of a cheaper Australian broker that will allow a NZ citizen, residing in NZ to trade?

Bell Direct would be my first choice but under their terms you have to reside in Australia and provide an address. Considering calling my friend in Sydney and asking for a favour..

Thoughts?

Thanks

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Don't know about the aussie market, but got a cheaper brokerage of .2% per transaction, minimum $30, for NZ trades from ASB securities last year. But you have to do a certain amount of trades.

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Originally Posted by see weed

Don't know about the aussie market, but got a cheaper brokerage of .2% per transaction, minimum $30, for NZ trades from ASB securities last year. But you have to do a certain amount of trades.

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I've just recently signed up with ASB Securities and they assured me there was no requirement for a "minimum number of trades." They said it was entirely up to me whether or not I ever decided to actually use my trading account, and there were no fees or penalties either way.

There is no "minimum" number of trades with ASB or ANZ Securities for NZ market.

Thread drift anyway.