Jarden Direct

[GTM 3442]

Hate all this platform jumping … and as prev poster says my securities aren’t under your control, only the cash sidelined

Aren’t non-New Zealand securities bought via Jardens held in their custody system?

[miner]

So with JD you can do T+2 but you can't run a stop loss,so went ASB as they said they also do T+2 and you can run a stop loss.Great I thought until I went to do a T+2 trade and they say insufficient funds in my account.So give them a ring and am told there T+2 is how long it takes to settle the trade .This is a waste of time for day trading so does anyone know of an NZ broker with T+2,stop loss and a half decent site ?.ASB is also Fing useless as it keeps logging you out if you don't keep the page active for 5mins .JD told me when the new site is up and running it will have a stop loss feature,but that's months away .

[t.rexjr]

So with JD you can do T+2 but you can't run a stop loss,so went ASB as they said they also do T+2 and you can run a stop loss.Great I thought until I went to do a T+2 trade and they say insufficient funds in my account.So give them a ring and am told there T+2 is how long it takes to settle the trade .This is a waste of time for day trading so does anyone know of an NZ broker with T+2,stop loss and a half decent site ?.ASB is also Fing useless as it keeps logging you out if you don't keep the page active for 5mins .JD told me when the new site is up and running it will have a stop loss feature,but that's months away .

T+2 but you either have to have cash funds or a settlement of that amount incoming from a trade. Not sure there are any platform that trades on tick.

[blackcap]

T+2 but you either have to have cash funds or a settlement of that amount incoming from a trade. Not sure there are any platform that trades on tick.

No you can buy on tick and pay 2 days later. But generally they charge a higher brokerage amount. That used to be the way anyway.
I know i have sometimes gotten a mail from Jarden saying my account was overdue.... T plus 2 in action. The last one a few weeks ago.

[Jay]

Don't think ASB lets you - online platform.
You either have to have the funds in the account or have a sale covering what you have bought.
I was thinking the other day why it is still t2 in any event, Not like you can send a cheque in now! and how long does it take to register your interest!

[miner]

Direct broking used to do T+3,ASB don't do it and jarden do T+2 but charged a % on top of brokerage as you're basically buying on tick .And Jay T+2 is good if you get it right as by the time you put money in your account to buy it the trade is gone .

[Lizard]

Disappointed that Jarden Direct move to Hatch will mean forced custodial holding if want to sell. I’ve always held Aus shares direct. Any options left for New Zealanders? Interactive Broking?

[kiwikeith]

I placed a buy order with Jarden on Tuesday (2 days ago) for $10,000 worth of shares. There was about $3,000 of orders in front of me at the same price when I placed the order. Today at 5pm about $150,000 worth of stock got traded at my specified price. I was expecting that my order executed in full - but no only about $1,000 of my order was executed (so there is no queueing system running on all orders). Jarden has sent me an invoice for $1,000 worth of shares and $30 commission which is 3%. It seems unfair to be hammered with this commission (high in percentage terms) when the original order was for much more.

[Bjauck]

I placed a buy order with Jarden on Tuesday (2 days ago) for $10,000 worth of shares. There was about $3,000 of orders in front of me at the same price when I placed the order. Today at 5pm about $150,000 worth of stock got traded at my specified price. I was expecting that my order executed in full - but no only about $1,000 of my order was executed (so there is no queueing system running on all orders). Jarden has sent me an invoice for $1,000 worth of shares and $30 commission which is 3%. It seems unfair to be hammered with this commission (high in percentage terms) when the original order was for much more.

As long as your original order has not expired, it may be completed tomorrow. You won’t be charged any more commission.

[Baa_Baa]

As long as your original order has not expired, it may be completed tomorrow. You won’t be charged any more commission.

True, or the next or next day it might be completed, but it's not right that this investor was ahead of the queue and their order not filled. Who can explain that? And it's not right that the commission is taken on the first fill rather than the completion of the order.