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Originally Posted by arekaywhy
Guys,
What are your strategies, if any, with regards to reducing the effect of the brokerage fees?
For example, I am using ASB, and the minimum brokerage fee is $30 on trades over $1000, so my strategy thus far has been to make a minimum trade of ~$3000 at a time, thus limiting the brokerage fee to 1% of the trade.
The way I figure is that I accept a 1% loss straight away on the holding. This means that should I wish to sell, I have to make 2% gain just to break even, given the fee on the sell trade.
Anyone got a better idea?
Sharesies, no minimum fee, brokerage of 0.5%. So on a $100 order you pay fees of 50cents. On a $1,000 order you pay fees of $5. On a $3,000 order you pay fees of $15.
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Banned
Originally Posted by blackcap
Sharesies, no minimum fee, brokerage of 0.5%. So on a $100 order you pay fees of 50cents. On a $1,000 order you pay fees of $5. On a $3,000 order you pay fees of $15.
Thanks blackcap, I understand that there are limitations to sharesies though that might limit my options. That said, I do plan to open an account with them and try to take advantage of them, particularly if I want to put money into ETFs on an adhoc basis.
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Member
Originally Posted by arekaywhy
Thanks blackcap, I understand that there are limitations to sharesies though that might limit my options. That said, I do plan to open an account with them and try to take advantage of them, particularly if I want to put money into ETFs on an adhoc basis.
I could be wrong, but you can't place a stop-loss order with Sharesies; it also takes a bit longer to transfer in/out funds compared to ASB.
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Banned
Originally Posted by Paradox
I could be wrong, but you can't place a stop-loss order with Sharesies; it also takes a bit longer to transfer in/out funds compared to ASB.
Ok so that could be a pain in the anus
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Plus the annual membership fee of $1.50 a month, up to $3000 portfolio value, then $30 a year flat rate. Still the cheapest option, unless perhaps you are only ever buying/selling much larger amounts at a time.
Originally Posted by blackcap
Sharesies, no minimum fee, brokerage of 0.5%. So on a $100 order you pay fees of 50cents. On a $1,000 order you pay fees of $5. On a $3,000 order you pay fees of $15.
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