Instant trading

Hi all, I am trying to see if I can change banks. One thing stopping me is that my offset account needs to be on the same platform as my share trading account so I don't have a 24 hour (or longer) wait to make a trade as money is hand delivered between the banks.

If you have a 100K account (say), do any brokers let you buy a $20K trade before the money arrives?

I have a small margin loan at Bell Direct, but it's a pain to extract money from it when it is in credit.

Any other ideas?

Can OSKO be set up for $20k amounts?

Thanks

 

I think CommSec has what I need. They seem to have a trading limit of $25K, and allow you to deposit in time for settlement. What is my trading limit and how do I provide CommSec with a deposit for share trading?

They also seem to have free data irrespective of number of trades.

Can anyone comment on any downsides of CommSec - I no longer trade often so I need the above more than a low price.

 

Do you think orders made in cheap/online only brokers, ie. Selfwealth get Executed LATER than those made in full brokers like Commsec? Do they get Executed faster/slower by ASX?

 

Thanks @geoffw. I asked because I saw this article:
Understanding Order Execution

"A broker can attempt to fill your order in several ways. As you will see, your broker has different motives for directing orders to specific places. Obviously, they may be more inclined to internalize an order to profit on the spread or send an order to a regional exchange or willing third market maker and receive payment for order flow. The choice the broker makes can affect your bottom line. However, as we explore below, we will see some of the safeguards in place to limit any unscrupulous broker activity when executing trades."

 

I would say that might hold a slight relevance to someone moving millions of dollars through the US markets, but not a retail trader in Australia.

I use CMC but have a Commsec account too. I can see the cmc order being filled right away on my commsec tab if that is open too.