Very small share parcel buys & sells on NZX

[Snoopy]

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.

I go further than that. I now won't deal with a company in any industry unless I can go in and 'thump the desk' if necessary. It is all very well going 'on line' or dealing by telephone. But what happens if there is a disagreement in policy? This happened to me a few years ago with travel insurance. My claim got turned down on the phone, but I asked to see the fine detail of the policy. Sure enough my claim was legitimate and I eventually got paid out. However on my initial phone call the insurance company was very forceful in stating I was not covered. Whether I just got an over zealous person on the telephone trying to protect shareholders interests I will never know. But the whole incident brought home to me that sometimes those cheap internet deals are no so cheap when circumstances become contentious!

SNOOPY

[youngatheart]

Why only one when you can have two? I now have two brokers: ASB Securities for buy and long term hold and Sharesies for frequent trading.

I found this link very usual for comparing Sharesies, ASB and Direct Broking...

https://moneykingnz.com/buying-share...irect-broking/

[couta1]

Why only one when you can have two? I now have two brokers: ASB Securities for buy and long term hold and Sharesies for frequent trading.

I found this link very usual for comparing Sharesies, ASB and Direct Broking...

https://moneykingnz.com/buying-share...irect-broking/

How can you use Sharesies for frequent trading when they dont provide a live depth chart, the depth chart is like blood in your veins for a serious trader.

[dagdaniel1]

How can you use Sharesies for frequent trading when they dont provide a live depth chart, the depth chart is like blood in your veins for a serious trader.

Probably uses the depth chart from ASB then trades using Sharesies - I do the same thing with IB for Aus stocks

[youngatheart]

Correct, I use the ASB depth chart for live quotes, or just buy at the very start of the day.

[couta1]

Probably uses the depth chart from ASB then trades using Sharesies - I do the same thing with IB for Aus stocks

The other problem is with Sharesies is that the shares are held in Trust, you dont own them directly, I wonder how that works for quick buy and sell orders of the same shares?

[Timesurfer]

They seem to take a while to process, as I am currently hoovering up very small parcels on a buying order.

[couta1]

They seem to take a while to process, as I am currently hoovering up very small parcels on a buying order.

Yes I doubt they would cope with my volume and frequency, besides their rates are not cheaper than what I get now.

[blackcap]

Yes I doubt they would cope with my volume and frequency, besides their rates are not cheaper than what I get now.

They would totally cope with your volume and frequency. It is a fully automated system and orders go straight through to the NZX. So no intermediary having to verify your order and place it with the NZX. when you push "buy" (or sell) it instantly hits the NZX system.

Its what traditional brokers (internet ones) have been talking about for ages (straight through processing) but has till now not eventuated.

[couta1]

They would totally cope with your volume and frequency. It is a fully automated system and orders go straight through to the NZX. So no intermediary having to verify your order and place it with the NZX. when you push "buy" (or sell) it instantly hits the NZX system.

Its what traditional brokers (internet ones) have been talking about for ages (straight through processing) but has till now not eventuated.

Thanks for that, do they offer interest on money sitting in your trading account?