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Recommended Internet Stockbrokers in
Australia, New Zealand, United Kingdom and the United States
(Stockbroker sites are also very useful to access
company announcements, share charts, quotes and other information)
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ASB
Securities offers an Internet, Telephone and Advisory
stockbroking service. The internet service charges a
flat fee of NZ$24.95 plus a NZ$4.50 trade fee (i.e. a total of
NZ$29.45) for trades up to NZ$30,000. About $30,000 the
brokerage is 0.3% plus the trade fee - so break larger
transactions into under $30,000 trades. For example, a
$100,000 trade would cost $304.50 - so split into four trades
of around $25,000 and pay a total of just $117.80. |
Australian fees are
the same - A$24.95 on trades up to A$30,000 - but exclude the
$4.50 trade fee.
ASB Securities offers you the security of dealing with a bank
- but the website leaves much to be desired! |
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Direct
Broking offers both low cost "Cash Rate"
(i.e. paid from a cash management account) and a "Credit
Rate" (payable by cheque) internet stockbroking
service. The "Cash Rate" fees are NZ$29.50 on
trades up to NZ$15,000 plus a very small 0.05% on the
balance over NZ$15,000. For Australia it is A$29.50 on
the first A$15,000 plus a high 0.3% on the balance over
A$15,000. |
| The "Credit
Rate" is NZ$29.50 plus 0.3% of the full value of a NZ
trade. In Australia, 0.7% with a minimum of
A$40.00. |
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National
Bank provides an internet stockbroking service through
First NZ Capital Securities. The brokerage is NZ$29.50 on
trades up to $10,000 plus 0.3% on the balance above that
amount.
Your shares will normally be held in a broker nominee account
(to simplify processing), but you can have them registered in your own
name. |
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Weblink provides a wide range of
services including live quotes from the
Australian stockmarket, live Personal Portfolio
Valuation (covering all Australian shares and
options), news, company reports to the Australian
Stock Exchange. Some services free, some by
subscription. |
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Merrill Lynch HSBC
InvestDirect offers a Net Trader and a Phone
Trader service. Net Trader charges A$23.95 for trades up to
A$10,000 then A$29.95 for trades up to A$30,000 and 0.11% on
trades over A$30,000. Phone Trader fees are A$54.95 on
trades to A$10,000 then A$69.95 on trades up to A$55,000 and
0.13% on trades over $50,000.
The main negative factor is that extemely low
interest rates are paid on cash balances! |
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Sanford changes 0.11%, with a
minimum of A$29.95 per trade.
Sanford provides a wide range of services
(real time quotes, market depth, news, company
information) covering all Australian listed companies but some
of these are only available to "Premium" accounts -
at a monthly charge of $10 (or free if you make at least two
trades). |
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E*Trade Australia charges
0.11% brokerage with a minimum of A$32.95.
In addition, E*Trade
Australia offers a wide range of services
(real time quotes, market depth, news, company
information) with a "Standard" account which are free
if you make at least two trades every six month or have over
$10,000 of assets in your account (otherwise there is a fee of
A$16.50 per quarter).. |
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FasTrade is the Internet service of
UK broker, Torrie & Co. The brokerage rate is
just 0.5%, with a minimum of just £15 and a
maximum of £30 (on trades worth up to £40,000). |
There are accounts fees of £20/year
or 0.04%/year on portfolios worth over £200,000
(i.e. £80 on a £200,000 account).
FasTrade
offers the easiest way to buy and sell UK Unit
Trusts, but are a little expensive. The
initial commission - usually 3% - is fully
rebated, but they charge £55-70 buying and
another £55-70 to later sell. |
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E*Trade is not the cheapest US
broker (US$19.95 for "limit" orders,
US$14.95 for "market" orders), but they
offer a full range of services (i.e. options,
company new, profiles, charts) and a very high
quality service. |
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Brown is
another US Internet broker charging just US$5.00
for "at market" orders and US$10.00 for
"limit" orders, plus charging a low
"margin" interest rate and offering
"real time" quotes. But you need
US$15,000 plus 5 years experience and an Income
over US$40,000 to open an account |
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Wang charges
just US$5.00 for "at market" orders and
US$8.00 for "limit" orders (but
"margin" interest rates are 1-3% higher
than at Brown & Co). |
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