Direct Broking

[bull....]

.1 % is better than the large volume rate in NZ, still no point in getting a cheaper rate with a company like Halifax and losing all your capital, at least both no frills broking companies in NZ are rock solid.

are you saying comsec is not secure , i think they are more secure than nz brokers and they charge .12% for asx trades its about the going rate in aus around .1 - .12%

[couta1]

are you saying comsec is not secure , i think they are more secure than nz brokers and they charge .12% for asx trades its about the going rate in aus around .1 - .12%

I didnt mention Commsec only Halifax which obviously wasn't secure and who knows whether all of the many no frills broking companies in Aussie are or not. PS-I doubt you can get much more secure than ASB or FNZC when it comes to no frills outfits.

[SilverBack]

yes i have 2 brokerage a/c's in aus by passing nz brokers and brokerage is great .1% commissions on asx trades

Can you name the brokers and indicate if an account can be opened using a NZ address?

[SilverBack]

I didnt mention Commsec only Halifax which obviously wasn't secure and who knows whether all of the many no frills broking companies in Aussie are or not. PS-I doubt you can get much more secure than ASB or FNZC when it comes to no frills outfits.

The issue is not their financial security although FNZC has a lower credit rating than ANZ Securities which had ANZ Bank behind it. The issue is the adverse effect of having an Aussie broker between the NZ broker and the ASX. Under ANZ Securities these impacts were noticeable in terms of delays in getting orders posted but these have worsened under FNZC and there have been other issues whereby access to the ASX quotes/depth has been lost or delayed. I have lost deals becasue of these issues and as a result have lost tolerance with DirectBroking.

[bull....]

Can you name the brokers and indicate if an account can be opened using a NZ address?

no names of whom i with but i did open them with a nz address , was a long time ago i dont know if things have changed you would need to do your own research by contacting brokers your interested in doing bussiness with.

[bull....]

I didnt mention Commsec only Halifax which obviously wasn't secure and who knows whether all of the many no frills broking companies in Aussie are or not. PS-I doubt you can get much more secure than ASB or FNZC when it comes to no frills outfits.

halifax had separate businesses in aus / nz most nz people would have had accounts in nz

[couta1]

The issue is not their financial security although FNZC has a lower credit rating than ANZ Securities which had ANZ Bank behind it. The issue is the adverse effect of having an Aussie broker between the NZ broker and the ASX. Under ANZ Securities these impacts were noticeable in terms of delays in getting orders posted but these have worsened under FNZC and there have been other issues whereby access to the ASX quotes/depth has been lost or delayed. I have lost deals becasue of these issues and as a result have lost tolerance with DirectBroking.

I only trade NZX stocks and although some are dual listed and I could use a different broker for them the whole currency conversion thing comes into play so just not worth going elsewhere.The reason the brokerage fees are higher apart from the lack of competition is due to the fee gouging by NZX themselves. PS-I agree the problems have been a real pain in the rear end.PPS-Just had a detailed look at the Commsec fee structure and as always the devil is in the detail eg they charge a platform data fee and $1.95 for a posted contract note for a start(Yes I'm old school and like all my contract notes sent out in paper form)

[RTM]

halifax had separate businesses in aus / nz most nz people would have had accounts in nz

The businesses weren’t as separate as they should have been !

[Beagle]

Speed to market should materially improve for the next two and a bit weeks. A really prolific trader I know has gone on holiday.

[iceman]

DB running a survey to find out what they can do better. Open util 25 March. Good opportunity to voice the concerns raised on this forum guys and gals