Recommended Brokers

Discussion in 'Stocks & Derivatives' started by rick_au, May 28, 2011.

  1. rick_au

    rick_au Member

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    Anyone recommend any online brokers?

    Im currently looking at going with Comsec or Bell Direct, anyone recommend these?
     
    rick_au, May 28, 2011
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  2. boston

    boston Well-Known Member Silver Stacker

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    I use BellDirect, and am happy with them. The information is basic, but the trades are cheap at $15.
     
    boston, May 28, 2011
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  3. Silver Soul

    Silver Soul Well-Known Member Silver Stacker

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    BellDirect covers all of my needs, happy with them.......Cheap in, & outs 15 bucks.
     
    Silver Soul, May 28, 2011
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  4. rick_au

    rick_au Member

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    Yeah Bell direct's cheaper brokerage got my attention, however apparently you are not "CHESS Sponsored" meaning shares are in the brokers name rather than your own. Could this become a problem if Bell Direct were to crash?
     
    rick_au, May 28, 2011
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  5. Silver Soul

    Silver Soul Well-Known Member Silver Stacker

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    Nope that is incorrect.

    They are Chess Sponsored.......I get my statements when Im Off or On

    ;)
     
    Silver Soul, May 28, 2011
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  6. Roswell Crash Survivor

    Roswell Crash Survivor Well-Known Member Silver Stacker

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    I'm with E*Trade, $19.95 per trade for trades under $5,000 in value. 97% satisfied.

    All settlements occur directly into/out of one of my existing bank accounts.

    With Bell traders have to deposit funds into an 'account' held by Bell, which isn't a Authorized Deposit-taking Institution (ADI) so no deposit insurance or government guarantees.

    So you are at risk with Bell even if you have a balance with them but never buy any securities.

    E*Trade also provides access to international brokerage (major exchanges only), options, CFD and managed funds so it does give you quick access for when opportunity strikes.
     
    Roswell Crash Survivor, May 28, 2011
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  7. rick_au

    rick_au Member

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    I think ill go with BellDirect then. The only thing which looks good about Comsec is the free $600 in brokerage, anyone know if viable to transfer the shares to BellDirect after the free brokerage is used?
     
    rick_au, May 28, 2011
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