sharetrader
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  1. #1
    Member
    Join Date
    May 2014
    Posts
    36

    Default Trading ASX securities (Through ASB)

    Over the last 15 months or so, I have been short-term trading on the NZX. Obviously, being new to it I'm still learning, and want to continue to develop in my trading. However, due to me starting a job at NZX February next year, this becomes very difficult to do on the NZX (due to disclosure requirements).

    Therefore, I've decided that I'll switch over to trading on the ASX. Just wondering what is the best way to go about this. Thinking of setting up a multi-currency account in AUD, so that I'm not hit with conversion costs every trade. Keeping in mind that most trades will be around the $4000 mark, is this the best option?

  2. #2
    Advanced Member
    Join Date
    Feb 2011
    Location
    Wellington
    Posts
    2,451

    Default

    Yes, best to have the money at hand in AUD , so multi currency the best way to go and saves you getting churned on the cross rate.

  3. #3
    Senior Member
    Join Date
    Mar 2001
    Location
    Auckland, , New Zealand.
    Posts
    1,408

    Default

    Beat me to it stoploss, as long as you are continually "re-investing" and only transfer funds back when you need some, plus you know exactly how much you have to trade with

  4. #4
    Guru
    Join Date
    Feb 2005
    Location
    Auckland, , New Zealand.
    Posts
    3,227

    Default

    You can do that through ANZ Securities.

  5. #5
    Member
    Join Date
    May 2014
    Posts
    36

    Default

    Cheers guys, I will set up a multi-currency account then.

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