ANZ E*TRADE vs Commsec

I've currently got a ANZ bank account,
so +1 ANZ

Also I'm after access to managed funds - and some googling revleas COmmsec bought out "Neville Ward" who had heaps of managed funds.
so +1 commsec

commsec special: $600 free brokerage
(CommSec - Free Brokerage Offer)
anz special: $550 free brokerage
https://invest.etrade.com.au/cms/viewcmsarea.aspx?key=Bulletin+-++55

Anyone used both and have an opinion on them?

 

First up, im spewin I didn't get that $600 free brokerage with commsec, I signed up just before they offered that deal I think, either that or I just didnt know about it.


I haven't use both, but I find Commsec is pretty easy to use, and I pay $20 in brokerage fee's when I make trades. If you're going to use Commsec, just make sure you get a CDIA account, it makes brokerage fee's about $10 cheaper, im not sure what brokerage costs are for e-trade, but yeah, that may help you out a little.

Just my 2cents.

 

e*trade thoughts

haven't used commsec personally, but i find e*trade pretty good, share trade prices are on the higher side (E*TRADE Australia's standard brokerage is $32.95 (GST-inclusive) on ASX-listed equities trades up to $30,000, and 0.11% (GST-inclusive) on trades over that amount), but you can also trade managed funds and warrants etc

they charge an ongoing monthly fee unless you have 10k and over in your account - is an option to get rid of this fee if you have less than 10k but you loose a few account tools (live market prices being one)

if you have any specific questions feel free to ask

 

thanks guys

 

Thanks for creating this thread, I wanted to ask the same question.

I'm new to share investing. And still pretty confused with the fee structures of these online trading sites. CommSec says it's fee to join, but when i went through the application form, they want u to put in $5000 or something. Gosh, I don't even know what to trade in yet...

 

You do not need to put in one single cent to open up a comsec account, even if you just leave it there and never use it. Comsec allows you to enter a bank account when you sign up that it will direct debit/credit for your share trades.
However - this linked account feature means that there are limits on the size of your trades, which off the top of my head are about $25k per trade for "leading stocks" and $7500 per trade for non-leading stocks. Leading stocks are simply a list they keep of a couple hundred stocks. OR, you can open a CDIA (Commonwealth Direct Investment Account) which is linked to your comsec account where you have none of the trading limits as mentioned above - but you need to open it with an initial $5k.