Direct Broking Stuff Ups

[SilverBack]

I noticed that this morning too and I agree, ever since the changeover there have been way too many stuff ups for my liking. I didn't know they weren't going to support issuer sponsored transactions going forward. What an inconvenience that is! Another inconvenience for me is that they still don't allow you to set up a stop loss for ASX listed shares. At least I don't think they do?

So where are we going to move to SilverBack? Anyone got any recommendations for online brokers that support issuer sponsored transactions, allow stop losses to be set up on ASX listed shares and hopefully has less problems than Direct Broking?

The problem is, so far as I can determine, no other online broker in NZ supports issuer sponsored buys either. ASB Securities let you sell ISP shares if you ring them to place the order but buys are through Chess. OM Finance only do Chess and their rates are higher. ASB let you do a Stop Loss sell, I have not checked out OMF. ASB do not give a recent history of transactions whereas Direct Broking do, and I find that very helpful sometimes.

[BobbyMorocco]

The problem is, so far as I can determine, no other online broker in NZ supports issuer sponsored buys either. ASB Securities let you sell ISP shares if you ring them to place the order but buys are through Chess. OM Finance only do Chess and their rates are higher. ASB let you do a Stop Loss sell, I have not checked out OMF. ASB do not give a recent history of transactions whereas Direct Broking do, and I find that very helpful sometimes.

Mhmmm it seems they all have their advantages and disadvantages. I'd be happy enough to stick with Direct Broking for now but not being able to set up a stop loss for ASX listed stocks does my head in! I'm going to look into opening an account with Interactive Brokers for my ASX trades. I'll save money on commission by using Interactive Brokers and it seems easy enough to open an account with them.