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  1. #1
    Junior Member
    Join Date
    Feb 2018

    Default Lowest Cost Option To Liquidate ASX Stocks

    I have a substantial amount of ASX stocks (6 figures) to liquidate (to help finance a house purchase in NZ). Currently using ASB, with an AUD cash management account, but their forex spreads and fees seem exorbitant, and their brokerage fees aren't exactly pretty either. It amounts a few thousand dollars, so I'm keen to reduce it as much as possible. What are my options here, to get a little less skimmed?

    - ASB
    - ANZ
    - Halifax
    - InteractiveBrokers
    - Any one else? Traditional phone up brokers?
    - Opening an Commonwealth Bank account (can we still do this?), and using an AU based forex broker somehow?

    Any better ideas?

    I'm also a little unclear on whether ASX shares bought through ASB can even be sold by another broker. What exactly does the "CHESS sponsorship" actually entail? I thought I held these shares genuinely in my name, but reading stuff here, I'm now wondering. And does this leave me vulnerable if things turn to custard in the financial system?

  2. #2
    Senior Member
    Join Date
    Jun 2014
    Mid of Middle_earth


    Read on as you might just get what you're asking for. GL.


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