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Originally Posted by couta1
Thanks for that, do they offer interest on money sitting in your trading account?
No they do not but with interest rates where they are today for me that is immaterial. (they keep the interest for themselves).
I do not use them a lot though as I am mainly a buy and hold kinda guy and I want to be able to vote my intentions on resolutions etc. But I have a small amount with them to play with. I met the Sharesies team right at the start and was impressed with their entrepreneurial spirit and different look at things so I chucked a few lazy dollars their way.
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Can’t comment on large orders, but more often than not, small orders are processed and filled in less than a minute. I make 4 orders a week (small) and by the time I’ve placed the fourth one, the rest have usually all been filled. Obviously this is due to the size of my orders, but still pretty impressive in terms of their system/technology.
Originally Posted by blackcap
when you push "buy" (or sell) it instantly hits the NZX system.
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Originally Posted by justakiwi
Can’t comment on large orders, but more often than not, small orders are processed and filled in less than a minute. I make 4 orders a week (small) and by the time I’ve placed the fourth one, the rest have usually all been filled. Obviously this is due to the size of my orders, but still pretty impressive in terms of their system/technology.
Its great to have a third no frills player on the scene particularly for small investors but I would need to get my head around certain issues which I encounter from time to time which can only be solved by a manual operator and that makes me nervous.
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As Sharesies stands right now it is probably not a platform someone like you would choose to use. They still have a few "must haves" to implement, which, even for me, are real frustrations and things I need. I am hopeful that they will roll these out over the next year or two. I personally need DRP, the ability to take advantage of rights/warrants offers, the ability to buy warrants on market, and the ability to transfer holdings in and/out of Sharesies. I am not sure whether they will be able to implement these things under their current custodial system, but they are very aware that these are things we want. Time will tell. For now I am happy to continue to use them to build my portfolio, but if at least some of the above are not implemented in the next year or too, I may rethink my position.
Originally Posted by couta1
Its great to have a third no frills player on the scene particularly for small investors but I would need to get my head around certain issues which I encounter from time to time which can only be solved by a manual operator and that makes me nervous.
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Originally Posted by justakiwi
I personally need DRP, the ability to take advantage of rights/warrants offers, the ability to buy warrants on market, and the ability to transfer holdings in and/out of Sharesies. I am not sure whether they will be able to implement these things under their current custodial system, but they are very aware that these are things we want. Time will tell. For now I am happy to continue to use them to build my portfolio, but if at least some of the above are not implemented in the next year or too, I may rethink my position.
Well it sounds like you've thought about it all jak, but with Sharesies charging a fee based on portfolio size it is inefficient to have them holding parcels of shares on your behalf for any great length of time. Which means you shouldn't care about them enabling DRP because most of holding should be in your name for most dividends you get.
And I doubt they will allow transfers out because that would undermine their business model.
For clarity, nothing I say is advice....
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My portfolio is miniscule and probably always will be given that I'm 59 and on a lowish income. Yes, I do get the dividends, which I reinvest manually, but I miss out on the discounted DRP price I would get if Sharesies supported DRP. Every cent counts when you are a small investor!
You are probably right about the transfers but it could also work to their advantage, as some people might want to transfer outside holdings in.
Originally Posted by peat
Well it sounds like you've thought about it all jak, but with Sharesies charging a fee based on portfolio size it is inefficient to have them holding parcels of shares on your behalf for any great length of time. Which means you shouldn't care about them enabling DRP because most of holding should be in your name for most dividends you get.
And I doubt they will allow transfers out because that would undermine their business model.
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59 same as me this year, welcome to the new middle age.
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lol I am 59 this year too
talk about a boomer party.
For clarity, nothing I say is advice....
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Originally Posted by peat
lol I am 59 this year too
talk about a boomer party.
And a great time to be alive excepting I find myself constantly listening to 80s music on YouTube as the trash they have been producing over the last couple of decades is in the main only fit for the garbage can.
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Check out Magic Music. Best thing since sliced bread
https://www.magic.co.nz/home.player.music.html
Originally Posted by couta1
And a great time to be alive excepting I find myself constantly listening to 80s music on YouTube as the trash they have been producing over the last couple of decades is in the main only fit for the garbage can.
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