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  1. #31
    Member flyingmariner's Avatar
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    I recently discovered that ASB Securities pays zero interest in their cash management account (required) unless you have a $250K balance.
    Call me stupid but I didn't discover that until I went in there to tally interest payments for taxes.

  2. #32
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    Scrolling through the thread looks like these are two of the better options.
    Comparison between http://int.tddirectinvesting.com/ and https://www.interactivebrokers.com.au/

    There are a few key factors I'm looking at in setting up an account with an online broker.
    Minimum holdings and minimum activity? Which has cheaper brokerage fees? Any other fees involved? Do they provide any research? Do they both give access to European and US markets?

  3. #33
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    I've used ASB for years and years to play the UK market. now I understand (from them) they may stop supporting the UK and US markets. bugger

    I'm interested in what brokers others are using to buy/sell in US and UK, and how well they have performed. I'm an investor, not trading regularly, maybe a dozen trades a year, and I can live with e.g. 1% brokerage. I would like someone who offers the service, is safe and reliable.

    Can anyone share some stories about who they currently use? Eg, CommSec (who I use in Aust), Directbroking, FirstNZ? Anyone who uses TDinvesting )(mentioned above) how are they performing for you?

  4. #34
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    jg8512, options are limited from NZ. I use Craigs who charge 1% brokerage and custodial is $50 per stock but expensive. Very safe and simple. I also have a commsec account for ASX stock and you can but international shares at 0.3% brokerage. Safe and simple. Firstnz has purchased directbroking and it will be interesting to see what they will be offering soon as far as purchasing US and UK shares.

  5. #35
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    Quote Originally Posted by voltage View Post
    jg8512, options are limited from NZ. I use Craigs who charge 1% brokerage and custodial is $50 per stock but expensive. Very safe and simple. I also have a commsec account for ASX stock and you can but international shares at 0.3% brokerage. Safe and simple. Firstnz has purchased directbroking and it will be interesting to see what they will be offering soon as far as purchasing US and UK shares.
    thanks very much voltage. Really appreciate your thoughts. Craigs is more expensive than ASB - not surprising I guess as they are a "full-service" broker. You sound similar to me in that you are happy to pay a bit more for the ability to trade US/UK with someone you trust. Is the Craigs $50 custodial a one-off fee, or charged per year?

    I hold mostly UK, and little US, but Commsec have only a USD foreign currency account for all offshore trading so you have to settle all trades in USD. So I worry I'll be constantly having to exchange GBP - USD- GBP to sell and buy on LSE! I will have another look at Commsec - but that single currency having to be USD puts me off. I use Commsec for ASX.

    Since my post yesterday, I had a look at internaxx. I'm quite intrigued by internaxx. They will charge 15 Euro per trade +0.1% of value, which is pretty good. There is also a quarterly account fee - 25 euro per qtr (if you trade once per qtr, which I can do with low minimum brokerage), and they allow you to have multiple currencies on your account with no fee. They also allow you to access multiple markets, and have been around quite a while (which I find reasurring) and Luxembourg offers deposit protection (reassuring again). I remember the access brokerage failure!

    I also found this useful site for evaluating online brokers: https://brokerchooser.com/
    their review of internaxx is here: https://brokerchooser.com/broker-rev...ternaxx-review
    Last edited by jg8512; 03-08-2018 at 04:25 PM.

  6. #36
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    jg8512 custodial is $50 per stock per year. Advantage is, you can always phone someone to discuss purchases, get reports but this comes at a price.

  7. #37
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    I have used internaxx.com for 16 years (was TDinveat for a few years in between). Fee arrangement has changed a bit over the time but service is good and overall cost is low. Love the fact that I can buy and sell in many markets and hold many currencies....cash transfers between EU account are free too - but take a few days.

  8. #38
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    Quote Originally Posted by voltage View Post
    jg8512 custodial is $50 per stock per year. Advantage is, you can always phone someone to discuss purchases, get reports but this comes at a price.
    thanks Voltage.

    If I hold 12-15 stocks (average) ... that's a $600-$750 each and every year, plus the cost of actually buying and selling. I will look elsewhere!

  9. #39
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    Quote Originally Posted by BeeBop View Post
    I have used internaxx.com for 16 years (was TDinveat for a few years in between). Fee arrangement has changed a bit over the time but service is good and overall cost is low. Love the fact that I can buy and sell in many markets and hold many currencies....cash transfers between EU account are free too - but take a few days.
    thanks BeeBop. useful to have that perspective from experience.
    PS. I had a look at Interactive Brokers too ... they are even cheaper, and have lower inactivity fees too. but you have to pay for market data (which I think is optional).

  10. #40
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    why is this so difficult to fine a cheaper way to purchase overseas stock that is relatively simple

  11. #41
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    Quote Originally Posted by voltage View Post
    why is this so difficult to fine a cheaper way to purchase overseas stock that is relatively simple
    I'm with Tdameritrade paying US$6.95/trade, Have been using them for over 10 years and had never any issues getting money in or out.

  12. #42
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    I think it may have all to do with Money Laundering etc. I think others have posted previously, that quite a few overseas brokers that use to take all comers now are very selective, fine if you are already with them, but if not well...

  13. #43
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    Quote Originally Posted by Jay View Post
    I think it may have all to do with Money Laundering etc. I think others have posted previously, that quite a few overseas brokers that use to take all comers now are very selective, fine if you are already with them, but if not well...
    Oh yeah I didn't read through the whole thread. I know it from my days of online Poker how difficult the US made it to get money out of the country. I consider myself lucky that I have had accounts with online wallets, brokers etc before this law came into play.

  14. #44
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    Hi Jay and Silu
    is getting money out of a US broker (like interactive brokers) actually hard?. Looking at their website they say one free withdrawal a month, and given what you need to do to prove identity to open an account, I wasn't anticipating any issues getting money back home. Afterall you are transferring from your US broker account back to your NZ account?

    Also, I've been playing around on the interactive brokers free demo. I'm a bit surprised it doesn't know some of the UK stocks I hold though. Anyone had a problem with Interactive not covering smaller UK companies??
    Last edited by jg8512; 07-08-2018 at 04:46 PM. Reason: typo-es

  15. #45
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    Sorry jg. don't know, don't have an account with one of these brokers, there is another thread(s) around discussing this if I recall

    https://www.sharetrader.co.nz/showth...ght=US+brokers
    https://www.sharetrader.co.nz/showth...ght=US+brokers

    https://www.sharetrader.co.nz/showth...ght=US+brokers

    There is 3 to have a read, I just searched us brokers

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