Hi All,
Just wondering who you use for buying and selling fixed interest securities (and indeed equities)?
Who is the 'best' (and why)?
Who has the best price?
Thanks,
Alan.
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Hi All,
Just wondering who you use for buying and selling fixed interest securities (and indeed equities)?
Who is the 'best' (and why)?
Who has the best price?
Thanks,
Alan.
Hi
I haven't done a huge amount on resarch but I can tell you that ASB Secutities charge 0.7% min $35. I had looked at Equity (IRG group) and from memory they charged over 1%. You do need to talk (call) one of their fixed interest brokers - i.e. you can't do it online.
Hope that's helpful.
unfortunately, the brokerage charged by most brokers is horrendous for Fixed Interest...this is partially the reason why there is such bad liquidity in these markets.
I get charged 0.35% on each trade, which I suspect is way below the average charged.
a close personal friend, but I had to negotiate to get that rate, mate, and it is partly based on the volume I put through them.
I use Direct, and it varies from 0.45% to 0.75% depending on sive of order, how much I've pushed through recently, that sort of thing.
I asked ASB and they are:
Phone: 0.7% with a minimum of NZ$35.00 per trade
They do internet for shares, but not fixed interest. No idea why! For that they are slightly cheaper.
Anyone found a better deal?
Alan.
Gidday
As GMT suggests go to Direct website, they have a rates page.
They charge the same rate for T + 3
I can recommend them.
Hi Contrarian,
I had a look at their rates page:
http://www.directbroking.co.nz/direc.../ourrates.aspx
It looks like they are more expensive than ASB for trades up to $6,000, but then become cheaper.
Is there any reason why we cannot do the following?
Buy 10,000 bonds through DirectBroking (say, $10,000)
Sell 4,000 of those bonds through ASB (say, $4,100)
In other words, presumably once we have a FIN number etc we can use any broker for any trade?
Thanks,
Alan.
Gidday
With your CSN & FIN you have the power, you can do as you suggest. Although I'm not sure of the logic of two sets of brokerage, I personally just use direct as they do a good job & like you say , it depends on the value of the trade.