ASX Shares Which platform do you use for trading?

I have been using commsec for a while now but they have two big issues.

Their fees are high and the service is lagged in that if you put in limit orders to buy or sell and then cancel them, even if you get cancellation confirmation, it will at times proceed with the order anyway.

Would anyone recommend any other platform? has anyone used plus500? they seem to have no fees from what I have seen

 

I use BellDirect and have no complaints. $15 per trade and it may even be less if your volume of trades per month is higher.

 

Thanks, their pricing seems quite similar to commsec not sure how fast and robust their platform is though

 

Anyone uses interactive brokers?

 

SelfWealth has flat fees of 9.50 per trade.

Does anyone use Bendigo Invest Direct? The associated product Leveraged looks interesting.

 

ANZ share investing
Was moved over from the old E-Trade
Would like cheaper brokerage
But the 9.99 fixed price sounds good

 

I use Bell Direct too, they used to be a good mix of value as well as features back when I signed up but I am not so sure now, there are probably better options.

...Except they jump to $25 for trades over $10k and move to 0.1% for trades over $25k.

 

I am starting off into the ETF world with VDHG.
I signed up on the Vanguard website as a personal investor. It says there is no brokerage for vanguard products.
Can someone help me with understanding whats the pros/cons of going direct versus going through selfwealth, commsec, etc ?

 

If you have a diverse portfolio it may assist to use a broker that produces an annual tax summary. As a direct investor you will need to summarise yourself. That said, Commsec do it badly especially ETFs. Sharesight is used by many for DIY reporting

 

So, if I want to just stick with buying 1-2k worth of VDHG every month or so, then Vanguard individual investor should be fine?

 

I also signed up on the Vanguard website today as a personal investor even though I have bought VAS and NDQ in the past through CommSec and Pocket. I haven't looked at the details yet but I think Vanguard charge $19.95 if you buy ETFs through their website?

 

I use a broker who gives me IRESS access and charges me 0.06%. But that's not accessible normally (there's a threshold for it)..

A cheap one that's readily available is Selfwealth. I think their trades are $10. Also has some chat forum or something I'm told or you can see trends. Never used it myself

 

The $19.95 is for non-vanguard ETFs. So, no brokerage for VDHG, I believe and account fee is max $600 per annum.

 

They may have zero brokerage but 0.2 % of total portfolio size as account fees every year makes them more expensive then self-wealth even for just Vanguard products in long run.

Self wealth dont have international stocks though unlike CommSec. Another advantage with CommSec is that you dont need money in settlement account until T+2 day. With self wealth , you have transfer money to settlement account even before you put any trade and money transfer takes 2 days.

 

Even with the .2% fee Vanguard Personal Investor will probably work out cheaper. If you add $2K a month you'll have 24K at the end of the year, and your fee will be .2% of that, or $48.

If you make 12 trades via SelfWealth you'll pay $112.

Long term that will change.

In ten years (with no growth) you'll have $240K for which Vanguard will charge $480.

It's unlikely Vanguard (or Bell) won't change things up, but if they don't and fees are a sticking point you could wait until you have $100K, switch it to a Vanguard Wholesale Fund and pay nothing for bPay installments.

 

To paraphrase Billy Bernstein:

Brokerage fees come and go, annual expenses last forever .

 

0.2% is not low. If you're trading $1m that's $2000 per annum or 200 trades on Selfwealth. You'd have to be trading almost daily to rack up $2000 of fees.

Unless you're a chartist or something, you're probably just buying a few stocks and holding medium term which will cost you $50?