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Thread: Sharsies vs ASB

  1. #11
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    I was quite surprised with the trading metrics - Sharesies has achieved

    Over 140 K members

    Over $350 M invested

    They aren't a small player in the market & achieved this within a couple of years, if not less - I believe ..
    ... the fine art of sniffing out debits & credits hidden under the carpet can pay dividends ...

  2. #12
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    Quote Originally Posted by nztx View Post
    I was quite surprised with the trading metrics - Sharesies has achieved

    Over 140 K members

    Over $350 M invested

    They aren't a small player in the market & achieved this within a couple of years, if not less - I believe ..
    I beleive they said last week they were doing about $13m a day. That is quite some big money. One of the bigger boys. Well in aggregate at least. Looks like they have about 10% market share by those figures.
    Last edited by blackcap; 06-05-2020 at 09:17 PM.

  3. #13
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    I should add that an option is to use both ASB Securietes and Sharesies, to get the best of both.

    I curently have about 90% of my portfolio under my own CSN acessible via ASB Securites, with the other 10% in Sharesies. I use Sharesies to do rebalancing and dividend reinvestment (for companies that don't have a divident reinvestment scheme) because the brokerage is much lower and so I can make smaller, more frequent trades than would be economic with ASB.

    Also, Sharesies is being actively developed with new features being added all the time, while ASB Securitiues seems to be largely static, so I expect the pros and cons will move in Sharesies favour over time.

  4. #14
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    Sharesies adds another advantage over ASB Securities: access to NYSE and Nasdaq exchanges.

  5. #15
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    The other option is direct broking. After some ownership changes they are now owned by Jordan (which was First NZ Capital)
    Generally similar functionality to ASB, but with a pricing structure that is better for pre-funded online larger orders (unless you get discounted rates with ASB or someone else).

    Direct broking online pricing as at 3 Nov 2020 is a minimum fee of $29.90 for any order up to $15,000. Above that its 0.2% so:
    A $30k order with Directbroking is $59.90
    A $30k order with ASB is $90.00 ($30 for the first $10k, then 0.3% thereafter)
    A $30k order with Sharesies is $42.00 ($15 for the first $3,000 then 0.1% for the other $27,000)

    Directbroking also has some more expensive brokerage rates for phone orders and direct debit arrangements.

    Also on the pros/con's, ASB website notes margin lending functionality and a BPAY transfer option, not that I've used either.

  6. #16
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    Quote Originally Posted by turnip View Post
    Sharesies adds another advantage over ASB Securities: access to NYSE and Nasdaq exchanges.

    Hopefully Australian Exchange is being considered by Sharesies soon too .. that would a logical add-on
    ... the fine art of sniffing out debits & credits hidden under the carpet can pay dividends ...

  7. #17
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    Quote Originally Posted by turnip View Post
    Sharesies adds another advantage over ASB Securities: access to NYSE and Nasdaq exchanges.
    What is the brokerage for the Nasdaq?

    ASB you can buy US shares but have to do so over the phone and the brokerage is much higher, the other issue is have to fill in tax forms etc for the US. Am I right in thinking that would not be needed with Sharsies

  8. #18
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    You do have to complete a US tax form for Sharesies. You then top up your wallet, exchange to $US (which is instant - 0.4% exchange fee) and can then place your order(s).

    Fees are the same as NZ ETFs - 0.5% up to $3000 and 0.1% for amounts over $3000. Charged in US$.
    Quote Originally Posted by ratkin View Post
    What is the brokerage for the Nasdaq?

    ASB you can buy US shares but have to do so over the phone and the brokerage is much higher, the other issue is have to fill in tax forms etc for the US. Am I right in thinking that would not be needed with Sharsies
    Last edited by justakiwi; 09-11-2020 at 01:07 PM.

  9. #19
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    Quote Originally Posted by justakiwi View Post
    You do have to complete a US tax form for Sharesies. You then top up your wallet, exchange to $US (which is instant - 0.4% exchange fee) and can then place your order(s).

    Fees are the same as NZ ETFs - 0.5% up to $3000 and 0.1% for amounts over $3000. Charged in US$.
    Hi Justakiwi, I don't want to nitpick but I will in this instance. The great thing with Sharesies is that most NZ ETF's have no brokerage charged. However NZ shares do have brokerage charges as per your figures.

    Transaction fees
    Sharesies charges a transaction fee when you buy and sell shares on most exchange traded investments. These are also known as ‘brokerage fees’. The fee is based on the dollar-value you buy or sell:

    0.5% for any orders up to $3,000, then
    0.1% for any amount above $3,000.
    For example, if you made an order for shares in a company of $5,000, the transaction fee would be $17. This is:

    $15 for the first $3000 (0.5% x $3000), and then
    $2 on the remaining $2000 (0.1% x $2000).

    No transaction fees on some NZX ETFs
    Some fund providers pay Sharesies a fee (also known as a rebate) to have their funds on the app. We waive the transaction fees when you buy and sell these funds.

  10. #20
    Senior Member justakiwi's Avatar
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    Sorry, yes ... my mistake re the ETF transaction fee - I meant companies.

    Quote Originally Posted by blackcap View Post
    Hi Justakiwi, I don't want to nitpick but I will in this instance. The great thing with Sharesies is that most NZ ETF's have no brokerage charged. However NZ shares do have brokerage charges as per your figures.

    Transaction fees
    Sharesies charges a transaction fee when you buy and sell shares on most exchange traded investments. These are also known as ‘brokerage fees’. The fee is based on the dollar-value you buy or sell:

    0.5% for any orders up to $3,000, then
    0.1% for any amount above $3,000.
    For example, if you made an order for shares in a company of $5,000, the transaction fee would be $17. This is:

    $15 for the first $3000 (0.5% x $3000), and then
    $2 on the remaining $2000 (0.1% x $2000).

    No transaction fees on some NZX ETFs
    Some fund providers pay Sharesies a fee (also known as a rebate) to have their funds on the app. We waive the transaction fees when you buy and sell these funds.

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