The thing is, in NZ there is pretty much no competition for brokers. So they can really do what they want. No wonder many are looking over towards the ASX and US exchanges. NZX is a bit slow on the uptake and continues to suffer.
The thing is, in NZ there is pretty much no competition for brokers. So they can really do what they want. No wonder many are looking over towards the ASX and US exchanges. NZX is a bit slow on the uptake and continues to suffer.
Think its about time some reputable overseas firm (AUS) to offer a trading platform, I'm sure most on this forum would give their business to them.
They probably would, but no way fees would be any less than the $30 per trade it is currently. Thank the NZX for that one.
It is only a matter of time before an broker like this comes to NZ.
I suspect the recent survey by DB is aimed equally at both improving their offering and preventing disruption from a large outside investor. (oops broker)
Last edited by Leftfield; 13-03-2019 at 03:03 PM.
Reason: incl broker
It is only a matter of time before an broker like this comes to NZ.
I suspect the recent survey by DB is aimed equally at both improving their offering and preventing disruption from a large outside investor.
Maybe, it is already possible with CFD's but to actually own shares in your own name is still pricy. Sharesies, invest now etc do aggregate and there is no brokerage (well $30 per year) but you cannot determine the price you pay for your orders so trading is pretty much out and the offerings are limited. If they were to offer their services on all stock I dare say the fees would have to increase markedly as the NZ market is just not big enough.
Not sure how the robin hood concept would work in the NZ framework. I know from experience that the "discount" brokers are not charging overly exorbitant fees thanks to the NZX.
Maybe if the NZX lowered their fees they might get a few more investors/traders (as long as the broking firms reduced their prices as well of course) - wonder if they have thought of that - sort of build it and they will come. Could say the same may apply to Sky, though rather than coming stop them from going.
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