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  1. #21
    Advanced Member
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    Jun 2004
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    Auckland, , New Zealand.
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    Sorry lawso, I did reply and pressed the wrong button. ASB securities rates up to$50000 .7pc min of $24-95 whichever is higher. over $50000 negotiate.Hope that helps. macdunk

  2. #22
    Advanced Member
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    Jun 2004
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    Auckland, , New Zealand.
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    Snoopy we might argue the point for ever, thats what makes the market interesting. The top fifty went up 22pc in the last 11 months, or 2pc a month on average. It has been a bull market,so to hold shares that only beat the bank is ridiculous. The time to beat the bank, and worry about dividends, is when the market turns the other way. Make hay while the sun shines, and have your stop losses in place to sell to the fundamentalists, that think they are right,and the market is wrong. When it all turns round, and it will dont ride the market down making excuses, get out and rethink. cheers macdunk

  3. #23
    Member
    Join Date
    Oct 2003
    Location
    , Auckland , New Zealand.
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    337

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    Thanks, dunc. As I said, I'm used to paying 1%. Most of my transactions are in the $5k-$20k range and I'm not a frequent trader - maybe buy/sell once or twice a month. But I might try for a better deal on my next substantial order. After all, I seldom if ever ask for their advice and use them basically as order takers.

    Any others care to comment on their brokerage/commissions experiences?

  4. #24
    Senior Member Halebop's Avatar
    Join Date
    Jun 2003
    Location
    New Zealand
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    1,172

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    I have a longstanding relationship with an individual at a Brisbane based full service broker and so suffer the consequences of their rates. However, although they have the bulk of my business it is very infrequently that this stuff gets traded. On a couple of occasions there have been years between trades. They had a busy time recently because I'm largely cashed up right now.

    I have two online accounts as well, one in NZ and one in Australia. Both are more actively used. My ASB Securities account charges between NZ$29.45 and A$24.95 per trade. This is often conducted in or near multiples of $30,000 so the brokerage rates work out very low - around 0.083 to 0.1%. For trading activities this is most suitable and brokerage becomes irrelevant to any of my calculations.

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