I have been using Commsec most of the time for buying my shares but am getting tired of the high brokerage fees
what is the current consensus on best broker app for Australian shares? (i don’t care about buying US shares as I have the SPY ETF for American exposure)
what broker do you use and why?
Any particular reason why…?
They are the number one retail stockbroker in South Africa - the cheapest, most efficient - with over a million customers. They are planning a big launch in Australia in 2022. They are there at the moment but have quietly been watching and planning in Aus for 2 years already. Download the app and try them out with the demo account to see how their tech works
Id Say Selfwealth or STAKE, both CHESS Sponsored and low brokerage costs
Only thing I’m finding annoying about Stake’s ASX offering so far is not being able to see market depth when placing an order, have to toggle back and forth between Stake and Commsec
Pretty slick otherwise
Pearler is great for passive ETF investing. It can invest automatically on a schedule of your choosing, and has Sharesight integration.
Been with ANZ since ETrade days. Of late, loved the Pro Platform which is responsive and very full featured. Then I realised that it is just CMC Markets where the Brokerage is half the price. Just complemented with FPMarkets / IRESS Trader as a Direct Market Access (DMA) Broker which allows me to Short most stocks and has a fixed low brokerage % down to $500 trades. Both well worth looking into.
Is there any reason NOT to use Stake for someone who just wants to trade Australian shares at the moment? Their forex fees look a bit expensive for international stuff but they have CHESS and $3 brokerage for AU…
are they ‘cheap for a reason’? or not much difference? does anyone know what their customer service is like?
Stake’s customer service has been pretty good when I needed them, had some issues with delays when initially transferring my shares over to them but they were decently responsive
was just via email though