Ridiculous fees charged by ASB securities

[Bobcat.]

If you regularly trade outside of NZ then consider opening up an online multicurrency account with your broker. I left ASB Securities since like you chaps I was paying a lot for forex transactions on each trade both ways (buy then sell).

ANZ Securities offer OMC accounts for UK, USA, and Australia.

I made a single forex transaction when setting one up for trading on the asx, and will only need to make another when I withdraw or deposit more funds. Meanwhile I trade to my heart's content on both the asx and nzx without incurring a single forex fee.

Check it out.

0800 805777 option 3.


BC

[Xerof]

If you regularly trade outside of NZ then consider opening up an online multicurrency account with your broker. I left ASB Securities since like you chaps I was paying a lot for forex transactions on each trade both ways (buy then sell).

ANZ Securities offer OMC accounts for UK, USA, and Australia.

I made a single forex transaction when setting one up for trading on the asx, and will only need to make another when I withdraw or deposit more funds. Meanwhile I trade to my heart's content on both the asx and nzx without incurring a single forex fee.

Check it out.

0800 805777 option 3.


BC

definitely agree with holding multi-currency accounts, but don't write ASB Securities off completely guys - they have accounts available in many currencies. No fees and they pay (some) interest

I have online accounts with both ASB and ANZ. I actually find ANZ online very slow to enter orders into both NZX and ASX, (up to 2 minutes at times), whereas ASB are virtually instantaneous consistently.

Slow entry cost me ~40 cents on one particular DIL trade a while back - was not happy