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09-07-2019, 09:44 PM
#641
Originally Posted by RGR367
How is that cheaper?
A 100 dollar trade will only cost 50 cents rather than 15 bucks with ASB. Trades over 3000 will cost 0.1%, so a 5000 dollar trade will cost 5 dollars rather than 30 with ASB. Good to see some useful competition arriving.
Edit : data source https://www.interest.co.nz/personal-...invest-now-and
Last edited by mfd; 09-07-2019 at 09:45 PM.
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09-07-2019, 09:45 PM
#642
It is cheaper for people who want to invest small amounts on a regular basis. I can invest $10 via Sharesies for $10.05. If I were to buy via ASB Securities for example, it would cost me $30 in brokerage fees. It’s not feasible to place small orders via a broker.
If I invested $3000 via Sharesies cost would only be $15 - half of what it would be via a broker.
It means that small investors like me can get get started on building a portfolio easily and much faster than I could if I had to wait to accumulate enough funds to make it worthwhile going through a broker and paying $30 a trade. I’m not suggesting it is cheaper for those of you investing millions
NOTE: I assume it is still $30 - haven’t invested via a broker for years.
Originally Posted by RGR367
How is that cheaper?
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10-07-2019, 01:19 AM
#643
Originally Posted by mfd
A 100 dollar trade will only cost 50 cents rather than 15 bucks with ASB. Trades over 3000 will cost 0.1%, so a 5000 dollar trade will cost 5 dollars rather than 30 with ASB. Good to see some useful competition arriving.
Edit : data source https://www.interest.co.nz/personal-...invest-now-and
Actually based on what the article says, 0.1% is for any amount over $3000, but that is after adding the 0.5% on the $3000 on top.
A $5000 trade would actually cost $17 ($15 for the first $3000+ $2 for the last $2000), but still cheaper than current brokerage that we all pay in nz.
There is also the subscription fee of $30 a year or $3 a month, so for anyone not considering more than at least three trades it might not be that cheap.
Last edited by silverblizzard888; 10-07-2019 at 01:25 AM.
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10-07-2019, 08:23 AM
#644
Originally Posted by silverblizzard888
Actually based on what the article says, 0.1% is for any amount over $3000, but that is after adding the 0.5% on the $3000 on top.
A $5000 trade would actually cost $17 ($15 for the first $3000+ $2 for the last $2000), but still cheaper than current brokerage that we all pay in nz.
There is also the subscription fee of $30 a year or $3 a month, so for anyone not considering more than at least three trades it might not be that cheap.
Your absolutely right, not quite so good for medium sized parcels as I made out. Still, a step in the right direction, and I expect the subscription would be worth paying for many, although it will take a bit of case by case maths. For those making small regular contributions, auto transfer every payday or whatever, it will allow them to dribble into the market without having to wait around for workable sums of money, and allow more diversification.
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10-07-2019, 09:52 AM
#645
I suppose competition and options are good even if not a game changer.
More regular smaller trades might breathe some life into some stocks - alternately, smaller holders might be a lot more jumpy and add to the panic sellling and over cooked buying, which will please the circling bigger fish.
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10-07-2019, 10:06 AM
#646
so asb is the most expensive of the discount brokers ie asb , direct , shareises?
one step ahead of the herd
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10-07-2019, 10:13 AM
#647
I don’t think this will be the case. For me, and a few others I know who are using Sharesies, we are looking at building a long term investment with a focus on building a small portfolio, watching and monitoring, but with no intention of selling - at least not for the foreseeable future. The auto-invest option is also a positive. Those of us who can only drip feed in small amounts of money at regular intervals, can take advantage of some dollar cost averaging and resist any urge to try to time/beat the market.
Time will tell, but right now Sharesies is working for me and has got me back into the market,after many years of falsely believing I didn’t have enough money to start investing again. I am kicking myself for that ignorance.
Originally Posted by Timesurfer
... alternately, smaller holders might be a lot more jumpy and add to the panic sellling and over cooked buying, which will please the circling bigger fish.
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10-07-2019, 10:35 AM
#648
Originally Posted by justakiwi
Time will tell, but right now Sharesies is working for me and has got me back into the market,after many years of falsely believing I didn’t have enough money to start investing again. I am kicking myself for that ignorance.
Having only relatively recently started investing myself after being burnt by a con artist some years earlier I hear what you are saying.
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28-07-2019, 06:33 PM
#649
https://www.stuff.co.nz/business/114...r-trading-case
A good read about the FBI after 'pump & dump' scheme - Excerpt : " FBI special agent Stephanie Schuld writes: "On November 3, 2017, Watson sent the following message, which based on my training and experience and other evidence obtained in this case, I believe refers to common aspects of a pump-and-dump campaign - specifically the "pump" which often includes the coordinated use (of) promotions, calls, rooms, and corporate news releases - surrounding LTEA (Long Island Iced Tea)."
Isn't it great to know that in NZ, the FMA & NZX are asleep at the wheels?
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29-07-2019, 08:41 AM
#650
https://qz.com/1659246/the-fbi-wants...ng-blockchain/
"Anytime there’s a new technology like blockchain, and there’s any kind of mania around it, this is what the fraudsters take advantage of.”
"a so-called “pump-and-dump” scheme, according to the search warrant document. The way these scams typically work is that promoters buy a cheap stock, start hyping it to investors with eye-catching claims, then sell their own holdings during the resulting mania, hopefully securing a profit before the stock comes crashing down.
Getting the picture, NZX & FMA?
Last edited by Balance; 29-07-2019 at 08:42 AM.
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