Very small share parcel buys & sells on NZX

[couta1]

Maybe the companies should move to percentage based fees. It's not like there is a dude calling the market in background to justify set minimum fee per trade.

Unfortunately the NZX is the problem, they charge the Broking companies a fee per trade plus fees for punters clicking on the depth chart, ie per click, we are just too small a market to expect the benefits overseas punters get. PS-Note that Sharsies doesnt provide a live depth chart function.

[dagdaniel1]

Unfortunately the NZX is the problem, they charge the Broking companies a fee per trade plus fees for punters clicking on the depth chart, ie per click, we are just too small a market to expect the benefits overseas punters get. PS-Note that Sharsies doesnt provide a live depth chart function.

Pretty sure the per trade fee is now just on value.

[couta1]

Pretty sure the per trade fee is now just on value.

Even if it is, trade fee on value plus depth chart fees equals costs to be retrieved from punters.

[justakiwi]

Apparently this is something they are working on now (currently running a beta trial). I believe it will be a subscription service, but don’t quote me on that because I now can’t find where I read it.

PS-Note that Sharsies doesnt provide a live depth chart function.

[bottomfeeder]

Got my balance buy on CVT. So concern by me was a little premature. Nevertheless something needs to be addressed here, sooner rather than later.

[peetter]

Unfortunately the NZX is the problem, they charge the Broking companies a fee per trade plus fees for punters clicking on the depth chart, ie per click, we are just too small a market to expect the benefits overseas punters get. PS-Note that Sharsies doesnt provide a live depth chart function.

Times are changing. Sharesies seems to be doing really well and I wouldn't be surprised if it grew into real competition for standard brokers in time. They certainly do develop their platform and engage their community.

[couta1]

Times are changing. Sharesies seems to be doing really well and I wouldn't be surprised if it grew into real competition for standard brokers in time. They certainly do develop their platform and engage their community.

Lol you cant even contact them by phone, I'd take quite a bit of convincing that they could efficiently cope with my level of trading with the ability to sort any problems pronto and a better brokerage rate than I currently have.

[blackcap]

Lol you cant even contact them by phone, I'd take quite a bit of convincing that they could efficiently cope with my level of trading with the ability to sort any problems pronto and a better brokerage rate than I currently have.

Unfortunately that is the way of the future. If you have a subscription with Xero you cant call them on the phone either.

[peat]

of course we all realise that Sharesies is the sign that the end is nigh dont we???

The fact that it exists is a signal to us that everyone who wants to be, is in the market now - even the shoeshine boy.
Its like the bucket shop that the old storys tell us about when our hero was broke after losing it all, and how he got some capital back by betting nickles and dimes at the bucket shop.
This is why I am not deep in the market. One has to be in of course but at this point in the cycle one has to be prepared for corrections and bear markets anytime.

[couta1]

Unfortunately that is the way of the future. If you have a subscription with Xero you cant call them on the phone either.

Intense trading tests systems and highlights certain faults which require quick human intervention so no phone equals an unworkable system for me unless its a perfect one which I'm yet to discover.