Brokerage

Discussion in 'Sharemarket Investing Platforms, Tools & Services' started by skater, 17th Mar, 2018.

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  1. skater

    skater Well-Known Member

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    If I join up with CommSec, it costs me $10 for a trade up to $1000, or $19.95 for trades of $1001-$10,000. With that in mind, if I want to invest $10k by putting $1k on 10 different shares/LICs/EFTs, is that counted as a $10k trade, & I get charged $19.95, or is it 10 x $1k trades & I get charged $100? Is there a record of the brokerage fees paid throughout the year, so for Tax time I just need to print out a statement from my CommSec account?
     
    skater, 17th Mar, 2018
    #1
  2. hobartchic

    hobartchic Well-Known Member

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    You get charged per trade normally. CommSec will be able to provide you with reports. I've done this with NAB and it takes a bit of work to figure out.

    It costs to buy and then to sell shares/ securities each time. So say a ten dollar charge to buy, then you hold, then get charged ten dollars to sell.

    Call CommSec and clarify everything though.
     
    hobartchic, 17th Mar, 2018
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  3. The Y-man

    The Y-man Moderator Staff Member

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    $1k on 10 different shares is 10 trades. $100 charged.

    A contract note is produced for each trade (a statement / invoice)

    The Y-man
     
    The Y-man, 17th Mar, 2018
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  4. The Y-man

    The Y-man Moderator Staff Member

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    You do however need to keep a track (we keep a spreadsheet) of how many you buy, when etc, as you will need to figure out CG when you sell them.

    I work on fixed value tranches (so I keep track of the number of shares bought in a particular transaction, and always sell the same number of shares in the selling transaction)

    The Y-man
     
    The Y-man, 17th Mar, 2018
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  5. willair

    willair Well-Known Member Premium Member

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    With the 10x trades within the Commsec platform over a month,the rest above that in month are broker fee free based on your online behavior ,but i have never done 10 trades in a month ,less then 8-10 per year..
    Then come tax time,you just click into your account-then into the statements section and it's all there in black and white..imho..
     
    willair, 17th Mar, 2018
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  6. The Y-man

    The Y-man Moderator Staff Member

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    I don't think you get free trades at commsec. Free access to IRESS, but not free trades as far as I know.

    The Y-man
     
    The Y-man, 17th Mar, 2018
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  7. skater

    skater Well-Known Member

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    Thankyou, that is what I thought it would be.
     
    skater, 17th Mar, 2018
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  8. The Y-man

    The Y-man Moderator Staff Member

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    The most evil things that happen for me is the proverbial partial trade - where I actually manage to pick a high or low but only get a few shares traded on my order before the share price moves..... :(

    The Y-man
     
    The Y-man, 17th Mar, 2018
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  9. skater

    skater Well-Known Member

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    So...you ask for a certain number, but they don't put the order through?
     
    skater, 17th Mar, 2018
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  10. willair

    willair Well-Known Member Premium Member

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    Sorry about that,i got it mixed up.They just waive the iress subscription fees for the month,but i never have done that amount in a month nor ever intend to do..But they offered me something a long time like that when one buy was above 150k on one purchase..imho..
     
    willair, 17th Mar, 2018
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  11. The Y-man

    The Y-man Moderator Staff Member

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    I can allegedly get iress but then it only runs on some ancient version of ie last I checked! :(

    The Y-man
     
    The Y-man, 17th Mar, 2018
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  12. The Y-man

    The Y-man Moderator Staff Member

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    It's an open market.
    If you want to buy 100 shares of X at $5, but only one person wants to sell 10 shares at that price, you end up with 10 shares, with 90 unfulfilled - basicly doubling up your brokerage!!

    The Y-man
     
    The Y-man, 17th Mar, 2018
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  13. skater

    skater Well-Known Member

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    OK...bummer
     
    skater, 17th Mar, 2018
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  14. The Y-man

    The Y-man Moderator Staff Member

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    Don't worry - rarely happens unless you are really trying to squeeze CG out from trading rather than looking at the income side.

    The Y-man
     
    The Y-man, 17th Mar, 2018
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  15. turk

    turk Well-Known Member

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    Not with Comsec, I don't know about other brokers.

    -Your order remains in place and the time can be extended which may allow it to be completed.

    -You can also alter the price up or down on the order.

    There is no additional brokerage charged.
     
    turk, 17th Mar, 2018
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  16. The Y-man

    The Y-man Moderator Staff Member

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    Yeah sorry, I was trying to simplify it a bit too much.
    Comsec stays open for a week but can't be extended, so if the price has moved you have to adjust the order (no extra fees), but sometimes that can take the order beyond profitability.

    I found it a particular issue with some of the quite thinly traded REITS like CMA and ETFs like GOLD

    The Y-man
     
    The Y-man, 17th Mar, 2018
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  17. turk

    turk Well-Known Member

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    You don't have to adjust your order, the price may come back and fill the order.

    When you place your order you can have it open for 1 month.
     
    turk, 17th Mar, 2018
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  18. The Y-man

    The Y-man Moderator Staff Member

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    Well jigger me! Thanks for letting me know.

    The Y-man
     
    The Y-man, 17th Mar, 2018
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  19. turk

    turk Well-Known Member

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    Happy to let you know, but will leave the jiggering to others:po_O
     
    turk, 17th Mar, 2018
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  20. fajji

    fajji Active Member

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    Self Wealth charges $9.50/trade regardless of transaction size. Never used it myself.

    Does anyone know where you can get level 2 information? Most brokers have that only when at the buying/selling screen but limited to 5 each way. Wondering if there is something that provides more depth. I've heard of Iress but never used or seen it.
     
    fajji, 18th Mar, 2018
    #20
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