Sharsies vs ASB

[Norwest]

Advantage of that is they now sit under my CSN, which my Sharesies holdings do not. To be honest, I’m not entirely sure what the process will be if I ever want to sell some - I do have an ASB Securities account which I haven’t used for years, but I’m sure if I ever want to sell some, I will be able to do it via them. Someone else will no doubt be able to elaborate on that.

You just need your four digit FIN number (make sure you keep your FIN in a safe place), your CSN is already populated when selling. You should really try it out by trying to sell one of your shares at an unobtainable price to make sure you know the process for when you need it and cancel the order afterwards its not complicated.

[justakiwi]

Yeah, I have my FIN - had to have it re-sent when I transferred those holdings out of Sharesies, as I had long forgotten/lost it. That’s not a silly idea - thanks for the suggestion.

You just need your four digit FIN number (make sure you keep your FIN in a safe place), your CSN is already populated when selling. You should really try it out by trying to sell one of your shares at an unobtainable price to make sure you know the process for when you need it and cancel the order afterwards its not complicated.

[arekaywhy]

Is it just me or does the Sharesies app feel like a slot machine with all the fancy lights and visuals.

When I was on ASB Securities a few years ago in my last foray into share investing, I always bought in minimum lots of $3000 to save on commission somewhat, but now I can put $50 here, $100 there. To me (an issue I'm trying bloody hard to work through mentally) is when ever I open up Sharesies, due to the lower cost commitment of a position and the glittering lights, I'm just not treating it seriously enough.

Anyone in the same boat?

I look at it the same.

The website developer is definitely using mind tricks.

The annoying thing for me with Sharesies is the lack of ability to analyse the market, and the way they show your holdings with very limited info.

Your methods with ASB and minimum trades is precisely the same as me. Keeps the fee down to 1% of the trade. Sharesies allows me to DCA at lower amounts.

[Panda-NZ-]

The ASB securities account is free though?

Use that for depth charts etc.

[arekaywhy]

The ASB securities account is free though?

Use that for depth charts etc.

Correct, however you need to trade on that platform every three months to keep it running on time, the delay might hurt your trades.

It would be nice if it were all in the same place is all I'm saying.

Even the ASB platform is clunky af

[thebdogg]

Correct me if I'm wrong, but since Sharesies did away with their annual fee, they're now the cheapest broker across the board?

$1,000 investment with Sharesies costs $5.
$1,000 investment with ASB Sec costs $15.

$10,000 investment with Sharesies costs $23.
$10,000 investment with ASB Sec costs $30.

$100,000 investment with Sharesies costs $112
$100,000 investment with ASB Sec costs $300.

I just realised this today and feel stupid - I have accounts with both, but have been using ASB for all my large purchases over the past year.

[arekaywhy]

Correct me if I'm wrong, but since Sharesies did away with their annual fee, they're now the cheapest broker across the board?

$1,000 investment with Sharesies costs $5.
$1,000 investment with ASB Sec costs $15.

$10,000 investment with Sharesies costs $23.
$10,000 investment with ASB Sec costs $30.

$100,000 investment with Sharesies costs $112
$100,000 investment with ASB Sec costs $300.

I just realised this today and feel stupid - I have accounts with both, but have been using ASB for all my large purchases over the past year.

You are right, and I did the same thing...but yeah once the numbers become significant, the fee comes second to knowing that you have control over them. I'd hate for them to do something akin to Robinhood recently. Mind you, I wouldn't trust ASB fully either.

[arekaywhy]

Sharesies' new way of displaying gain/loss as a percentage is not good. I think I'd prefer it if they left it as before, showing your current gain/loss so you can make a decision based on the most recent trades.

[justakiwi]

Not sure what you mean. Your total return/loss is displayed as percentage and $ total. For both your overall portfolio and for your individual holdings.

Sharesies' new way of displaying gain/loss as a percentage is not good. I think I'd prefer it if they left it as before, showing your current gain/loss so you can make a decision based on the most recent trades.

[Beat the Bank]

Thanks thebdogg for the calculations above. I have only ever used ASB and it looks like I will stick with it for a $10k trade.
$10,000 invested via Sharsies is $7 less but if you want to transfer it out into your own CSN as described by Just A Kiwi, add another $5 so not worth the effort.