Hello down-under Fools !I'm new to posting to this board, but I've been "sniffing" around for a while...I have one main question and one "thought for the day".I'm an Aussie working in the UK (and returning to OZ soon), and have some AUD$ to invest in the Australian market. I've looked into eTrade Australia and they charge $49 (plus $20 if trading by phone), and Commonwealth Securities charge $29 (Internet or phone).I've heard rumours from friends downunder that ComSec have had some performance issues? My question is: what Australian "discount" Internet broker would people recommend? One of these two or another? Are there any issues because I'm living in the UK (though I have Australian address and bank accounts as this London thing is just a temporary abboration...), which leads me onto my second point...My feedback:I recently went to transfer some shares from Salomon Smith Barney to eTrade (US), filled out the on-line account application then printed and mailed the application as requested. I never heard any feedback by email, but two weeks later I received a letter from eTrade saying "...we are writing to inform you that a regulation within the United Kingdom securities industry prevents it's residents from establishing accounts with eTrade Securities, Inc a US corporation. Accordingly, we must return your application...blah blah apologies etc." I was rather disappointed, then got wondering:- does the Australian securities industry prevent Australian residents from signing up with eTrade US (or any other US firm?)- does eTrade Australia prevent this somehow (protecting it's Australian fledgling, for example...)- have any UK readers in this board managed to "get around" this problem, which to me sounds more like the UK market trying to protect itself from competition...Any thoughts?Joe(a new Fool !)
Hey Joe and all other Australian investors.Mate (yikes!, feel like you're back in Australia?), I'm learning how to do this online investing thing and just got into it recently. I guess my timing was great, because I am being inundated with information about the various online "brokers" available. The Age (sound familiar?)'s Money section had an article a couple of weeks ago, with a list of online "brokers" comparing their fees and all. Don't know if they archive on their website, but I still have a physical copy and am willing to type it out and email it to you.Having said that, I am also interested in hearing others' views on which is the best online "broker" for Australians so I can start figuring out which will give me the best service.Thanks,Chunkie
I have recently signed up with Etrade Austalia. Comsec have the advantage of being able to trade US shares but brokerage is $100 for this or 1%>$10000. I have seen a fair few posts complaining about Comsecs reliability of their website. Went with Etrade because they will be around for a while and having a US arm I hope there is a chance of trading US shares without changing sites/brokers at some stage in the future.Sanford are worth a look, also Webstock.Both cheap.
Stick clear of Sanford as they are not realtime.If in etrade.AU, you have to register with etrade US.Happy trading;o)
I have opened an account with E*trade Australia recently. So far they compare very well with my account in Belgium, where I pay about the same per trade, but get no information whatsoever. In comparison with Suretrade, my broker in the USA, I like the customizable home page very much at E*trade, as well as the market-depth feature. Charts, company news and financials are also free, which is important in Australia, as they're hard to come by, compared to USA. I would still like to find mor info on Australian companies, does anyone know a functioning message board like this one? What is the best financial site?Costs at Suretrade are 8 or 10 USD, 10 being for limit orders. It was easy to open an account as an "alien". The main reason for me to go to Australia as well is the more convenient market hours: I live in NZ. No online brokers here.
Cannot assist as our markets are not as clued up as the OS markets and therefore we have to pay for the privelege of obtaining financial data.Plenty of freebies on this Board.Do not know of any others ... then again other people may know of a few! Happy Trading;o)
"My question is: what Australian "discount" Internet broker would people recommend? Are there any issues because I'm living in the UK (though I have Australian address and bank accounts as this London thing is just a temporary abboration...), which leads me onto my second point..."ETrade Australia is the only Aussie Online Brokerage that is real time. Don't think you will have any probs with your address situation."letter from eTrade saying "...we are writing to inform you that a regulation within the United Kingdom securities industry prevents it's residents from establishing accounts with eTrade Securities, Inc a US corporation. Accordingly, we must return your application"Use your Aussie Address and get around ETrade USA restrictions that way.
"I would still like to find more info on Australian companies, does anyone know a functioning message board like this one? What is the best financial site?"We dont have any Fool In Australia however for more company info try these:Australian Financial Reviewhttp://www.afr.com.au/Australian Financial Services Directoryhttp://www.afsd.com.au/Australian Listed Companieshttp://www.iinet.net.au/~tighe/asc.htmlAustralian Shareholders' Associationhttp://www.asa.asn.au/Australian Stock Exchange http://www.asx.com.au/BigPond Money Sharemarket pagehttp://www.money.bigpond.com/sharemarket.htmBond Street Cafe Australian Stockmarket Guidehttp://www.ozemail.com.au/~aushui/stockguide/bullbear.htmNetquote (Pay site)http://netquote.com.au/start.htmlThe Age's Trading Room (Pay as you go)http://www.tradingroom.com.au/Top 100 Companieshttp://www.kangaroo.com.au/Happy Reading :-)CheersInvesting while Im restingMrSkip
Thanks, that'll keep me busy today!
LemAnother one you might like to try is investorweb.com.au. It has a lot of useful info but not much is free. Instead of having to pay a lot upfront you get to see some sample documents, can buy by the document or can enrol for certain levels of access for a set time. They have a shares (and other) message board but I don't use it, I think it gets more hits than my machine (586 windows 3.11) can handle.If you think your machine is frozen while loading the forum wait at least 3 minutes to see what happens. There is a fair bit of crap but also a lot of good info.Anyway check it out and see for yourself.Also newsgroup aus.invest.
You might also like to check out the Market Monitor section of Quicken Australia's web site (www.quicken.com.au), also Computershare Registry Services at www.cshare.com.auRegards,Richard
SANFORD ARE real time stockbrokers.They ARE a far supperior company to E*TRADE AUS.Reasons They have the capacity to handle 33% of daily trades.They are the second most vistited online broking site behind COMM SEC. That means ETRADE are behind Sanford in hits.Sanford is the 11th most visited site in Australia period.ETRADE focuses on advertising but Sanford has focused on building a quality system.They have approximately the same amount of customers BUT Sanford hasn't commenceed extensive advertising yet !!!!!ETRADES share price has fallen precipitously in the last few days and is currently around $4.40.'nuff saidDECIDE FOR YOURSELF !!!!!!!
I think that we are talking about using a service not buying shares in the organisation.
Hey Philtee are you a Sanford plant? hehehehe
Hi,I am about to open an account with sanford and your recommendation has made me breathe easy. They are very courteous and respond very quickly to enquiries.I am a bit new to the Australian stock market. Anyway I'll get by somehow.
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