What Platform to Execute Trades?

Discussion in 'Sharemarket Investing Platforms, Tools & Services' started by izzy16, 23rd Feb, 2017.

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  1. izzy16

    izzy16 Well-Known Member

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    Curious to know how all of you actually execute trades in terms of a platform? I'm with ANZ internet banking and they have an option to easily link to ANZ Share Investing account to do this. Are they all the same?
     
  2. Perthguy

    Perthguy Well-Known Member

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    Not all the same. I have been out of the game for a while but back in the day I used Macquarie.

    If I was going to get back into it, I would check out IG Markets. Share trading

    I am not sure what it does but it has a demo account so I guess you could find out there.

    My option 2 is SelfWealth - Trading knowledge not just shares. Don't invest alone! but again, I am not sure about their investor tools.

    Note if you want to trade you will need Straight-through processing (STP). Not all online brokers support this so if you are considering signing up for one make sure they do.

    Straight-through processing (STP) means your order is sent directly to the ASX market without any human intervention. Some online brokers use a system where orders are sent to a dealer who then has to approve or reject them and manually enter them into the market. If the market is volatile, any delay could have significant consequences. Our system approves or rejects the order and places it directly on the market, typically in under one second.

    Stockbroking platform | CMC Markets
     
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  3. Nodrog

    Nodrog Well-Known Member

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    I use Nabtrade.
     
  4. sharon

    sharon Well-Known Member

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    I just signed up for Commsec but haven't yet worked out how to get my money from my bank (not CBA) to Commsec. I am working on it though.
     
  5. wombat777

    wombat777 Well-Known Member Premium Member

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    I'm with Commsec. My linked account is one of my bankwest offset accounts. It does mean that any dividends received instantly offset against my PPOR home loan.
     
  6. Nodrog

    Nodrog Well-Known Member

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    Can't it just be transferred online by direct transfer or BPay from your external account to the CDIA account?
     
  7. orangestreet

    orangestreet Well-Known Member

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    I have CommSec too. I just transfer funds from my offset to CDIA easily.

    Read the FAQs - it is very well written. I also spoke to customer service a few times as well and they were helpful.
     
  8. Blueskies

    Blueskies Well-Known Member

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    Belldirect
     
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  9. sharon

    sharon Well-Known Member

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    @austing and @orangestreet
    When you do the direct transfer from offset to CDIA - does the tax office allow you to claim the interest on the offset account because the money is used for investment purposes?
    That is my concern.
     
  10. orangestreet

    orangestreet Well-Known Member

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    @sharon what do you mean by interest on the offset? The offset only "offsets" the underlying loan and generates no interest on its own.
     
  11. Nodrog

    Nodrog Well-Known Member

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    I thought you were transferring from a line of credit. From what I understand it's best not to use an offset account in most cases as it muddies the tax waters.
     
  12. sharon

    sharon Well-Known Member

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    @austing and @orangestreet
    I think this is where it's obvious I have no idea what I am doing. :)

    I have a house worth say $500k that still has a mortgage of say $150k.
    So I have taken equity from it and put that into another account - same bank.
    So I have taken $120k against the same house. That is another loan IO seperate to the mortgage.

    So - the 120k loan is fully offset with the $120k - it's just two lines in my internet banking - one saying I owe $120k and the other a bank account that has $120k in it fully offset on the $120k loan.

    So when I say that moving money from the offset to the CDIA account - I mean the $120k offset account - not the mortgage offset account.

    Does any of that make sense? And will the tax man see that the $120k (which is currently in an offset account) is being used for investment and therefore the interest is tax duductable? Or have I set things up incorrectly?
     
  13. Hodor

    Hodor Well-Known Member

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    I use commsec for my portfolio and ANZ share investing for the wife's (which I manage as well). If you are just going to buy and hold then either is fine.

    If you are planning on actively trading then it might be worth more research.
     
  14. orangestreet

    orangestreet Well-Known Member

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    @sharon best to see an investment savvy mortgage broker and / or accountant. Well worth your time.
     
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  15. Anne11

    Anne11 Well-Known Member

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    I used commsec too and only transfer the fund from offset to the CIDA account after each share purchase, as it take 2 days for the fundin CIDA to be taken out of that account. Also as i understand because the fund is used to generate income the interest is tax đeuctible. Pls double check with your accountant though
     
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  16. Scott No Mates

    Scott No Mates Well-Known Member

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    This platform is pretty robust and is perfect for executing multiple trades simultaneously.

    @bob shovel @Tools @Brian84 - how stable do you think it'd be under load? What size?
     
  17. Brian84

    Brian84 Well-Known Member

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    Probably crumble under pressure.
     
  18. bob shovel

    bob shovel Well-Known Member

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    My wife just arranged to have one similar built.... what is it? ?:oops: the suspense is killing me
     
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  19. Scott No Mates

    Scott No Mates Well-Known Member

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    Just hang in there @bob shovel - did you forget the birthday? (Again)
     
  20. wombat777

    wombat777 Well-Known Member Premium Member

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    You'll be ropeable when you find out.