Forum Topics Looking at different Stock Brokers
pubenvelope
4 years ago

Hi,

I've been into shares since the start of the year, and have used Westpac Investing as that's what my family uses.  Been listening and researching a lot of other Brokers after discovering they exist. The hefty brokerage with Westpac isn't great for my trades.

I've come across SelfWealth and they seem to read up great with flat $9.50 trades, no matter the size and no management fees.

I was interested in IG, however not sure I ever want to feel 'pressured' into making trades just to avoid a $50 fee for the quarter.

Just wondered if anyone else had experience with these guys, or perhaps some other examples? TIA

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pubenvelope
4 years ago

Thanks BPeters, I did see CMC were highly rated, however their fees sort of made me reconsider, as I don't think I fully understand the following: "If you have any remaining funds after trade sitting in your CMC Account (which sits with Bank West), you'll be charged an annual broker service fee of 1%. Bank West also charges an account fee of 0.75% for any funds of less than $10,000. So if you have less than $10,000 in the fund, you're charged 1.75% p.a." So , if I have any cash sitting in my fund, I'll get charged?? Since opening my account earlier this year, I bought my first lot of shares at the end of March. Since then, I've traded roughly 10/11 times, so it's cost me $200. By simply having that fee halved, that's an extra $100 I could have invested.

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