Brokerages

[Tim]

Is 1.5% standard brokerage from full broker services for share trading in ASX and NZX? I usually make my own decisions based on their reports.
I know the question has been asked before, but services change, since discount brokers have similar fees, does any one stand out from the others?

[Lizard]

I use two brokers. One charges me 1%, minimum $40, the other is 0.8%, minimum $60. I'm paying way too much, but I don't do many transactions, so it hasn't been worth changing...

However, I did start out at 1.5% and negotiated down at a later stage.

I would have thought discount brokers would be considerably cheaper than this (and it is on my "to do" list...)

[Halebop]

1.5% is quite a bit. 0.8% to 1% isn't so bad for a full service broker. With volume you should be able to get cheaper than that too.

Having a friendly full service broker can be useful in those brief interludes where floats and new issues make for easy gains.

A discount broker is substantially cheaper than this and probably worth the switch as long as you are happy with receiving average, sub par and sometimes non existent service re floats.

[Tim]

looking at discount broker websites, direct looks very straight forward.

[Lawso]

As a DPC shareholder, I favour Equity and Direct Broking - both Dorchester subsidiaries. Not being a frequent trader I mainly use Equity - normally pay 1% brokerage or $25 minimum. Very efficient and good to deal with IMO. Also get a free sub to NZ Investor Monthly and you can often get an extra 0.25% on fixed interest products. A good deal all round.