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Any share traders here?

Discussion in 'The Pub' started by removed-6, Jul 9, 2008.

  1. I'd like some recommendations for a online share broker if anyone has good or bad experiences please.

  2. Sorry .. the only share trading we do involve digital photos :oops:
  3. VCM thanks for scarring me with an indelible mental picture............. :evil:
  4. I use etrade - they used to have issues on high volume days last year but seem to have resolved their issues and have been quite reliable recently.

    Be careful looking at 'smaller' brokers - look what happened with the Opes Prime thing...

    The best online broker for you will depend on factors like the number of trades you will be doing and the $$ amounts of these trades - and also how easy it is to deposit/withdraw money etc

    Check out a couple of the bigger share forums like Hotcopper and TopStocks - do a search like 'broker recommendations' and you will find a lot of useful info and opinions...

    Hope that helps

  5. I use FW Holst & Co - in the city (Melb)- medium size firm for my shares and finanical planning advice. I talked to a couple of different brokers there though before I found one that I liked. It takes a while to build a good rapport, but worth doing.
  6. Tolhurst .. (full service)
  7. ...and what are the share brokers recommending in the current climate?
  8. The Australian Stock Report currently have a free trial on Contracts for Difference (CFD) reports - which are a fastly growing tool for trading shares, foreign exchange etc. U read through the info and put an order on your platform.

    My understanding is that they have a lower risk than trading on the sharemarket, plus you control your own investments. Its a free trial so what they hey.

    They also have brokers and strategists.

    >> no i dont work there <<

    Also etrade is apprently good, and commsec also has a good platform and is user friendly.

    Good luck.
  9. I have been with Commsec for a while, site crashes on heavy trading days.

    Also with E Trade who don't seem to have any access problems.

    Commsec are cheaper for smaller trades, E Trade is cheaper for trades over 10K.

    I tend not to look at my portfolio that often now, think I am down nearly 35%.
  10. I have been trading shares for some 15 years. Have traded with HSBC, 21st and for the last 2 years have traded actively with Comsec. Someone mentioned that they crash on busy days. This may happen but is rare nowadays. Their website is improving with great new features. They are also a very good 'shorting' broker. www.comsec.com.au

    You could do worse than open up a free Comsec account and use their services (ie watchlists, analysis, graphing etc) till you are comfortable with their services.

    Have a look at www.investorweb.com.au . This was recently acquired by Comsec. It is a very good share chat forum. Free to join and participate. Ask their views on brokers. You can also subscribe for a premium service if you like.

    Tough market atm though. Shorting is the way to go IMO. Particularly stocks like COH, BHP, FMG and of course the banks.

  11. just a word about stock 'reports' in general...

    IMO the various high profile reports are not worth the subscription fee that they ask ($500-2/3K depending on how desperate they are at the time).

    Keep in mind that they have to aggressively market their report (TV, letters, magazines, even phone calls!) to keep making money from subscriptions.

    The fundamental flaw here is that IF they were actually consistently good with their stock calls they would not be doing a report would they? Think about it, none of the proven best investors and traders around the world feel the need to publish a report with their predictions - they're way to busy making actual money...

    The 'professionals/strategists' behind the reports have made many VERY incorrect calls over the years and the people who blindly follow them have in many cases lost large amounts of cash as a result.

    I have never subscribed to these reports - I just know enough people who have to see that they're a serious waste of cash.

    If you're serious about getting into share investing/trading you're better off doing your own research - read, read, read, and watch the market consistently and you will feel better about the decisions that you make...

    sorry - not meant to be a rant - I just don't like to see anyone lose money due to these reports...

    also, be aware that CFD's can be very dangerous if not used correctly - they require a very good knowledge of trading and due to the highly leveraged nature, if they go bad, they go very bad (ie people can be literally be wiped out in minutes if it goes against them - which happened to lots of CFD traders earlier this year) - IMO do not attempt to start trading with CFD's - stick to standard shares to start (also the odds are 'sometimes' stacked in the favour of the broker with CFD's...)
  12. I used E*Trade and was very happy with them. Got talked into moving to a full service broker, but the service was crap and the commision was $75 a trade instead of $15-20, so that was a bad move. I then moved into trading the US market with Spectrum Live, and all of my portfolio is there at the moment. Once things look up and I have a bit more liquidity I'll get back into the Oz market, and will happily use E*Trade again.

    (Actually got my first margin call last night, but was fortunately able to transfer some money around and cover it. I haven't actually *lost* any money at all so far, despite the carnage, due to having good strategies in place.)

    Someone above suggested CFDs are lower risk than shares - no, they're higher, because they offer more leverage. Higher returns, higher risks, so you should know what you're doing and have good strategies in place.

    I did Platinum Pursuits' share trading/CFDs/options course. It's a few grand, so you need to be serious about it, but the information is excellent and has stood me in good stead.
  13. Thanks for the feedback, any experience with NAB online share trading? I bank with them so it would smooth out one thing at least if it was all in one place.
  14. I used NAB broking for a couple of years until recently. Found them consistently reliable with any type of trade, I never had a site access problem. May not be the cheapest, but they were close. Didn't use them for research much. If you plan on trading alot its worth signing up for the better plan to gain market depth info.

    Now I use a private broker as I've gone more 'set and forget' (ie blue chip only) whilst the market/economy tries to sort itself out.