Which Stockbroker to Use (CMC, IG, SelfWealth, Commsec) ?

cooldude123 on 12/07/2017 - 11:35

Hi guys,

I'm hoping to invest a bit into ETFs and was looking for a reliable broker that could potentially offer exposure to international markets as well in the future. Not too fussed about analytics and other such features but something that had relatively low brokerage would also be ideal. Supposedly some brokers don't actually give you the option to hold stocks directly but only act as a trustee so insight on that would be appreciated.

If anyone has any referral codes for any of those brokers, please PM me as well.

Thanks in advance!

Financial

Comments

  • chobani4lyf on 12/07/2017 - 11:51
    +1

    I've been using CMC and have had no issues. You will be holding the shares in your own account, the brokerage is very low and if you're just looking to put money into ETFs you won't really need a phone app as such which CMC don't have.

    • CyberMurning on 12/07/2017 - 11:56

      is CMC only CFD or can do normal trading without borrowing $?

      • nickomac on 12/07/2017 - 12:47

        Can do normal trading and use your own money - they'll set you up with a cash management account from bankwest

    • Partake0486 on 12/07/2017 - 13:08

      CMC Markets have an iphone app at least - I've used it and it's quite good.

  • nickomac on 12/07/2017 - 12:47
    +1

    IG doesn't hold shares in CHESS, so that pushed me away from using them.

    • mrcabbage on 27/07/2017 - 09:02

      Guys I have the same doubt. I was thinking on SelfWealth or IG because of the low fee per trade 9.5 and 8 AUD respectively. What is the @nickomac what do you mean with hold shares in CHESS? Do you recommend other stockbroker with cheap fees?

  • LemonShapedRock on 27/07/2017 - 12:08

    I'm with CommSec, haven't had any issues with them.

    I've been curious to see what else is on the market though.

    • HeavenlyHammocks on 16/09/2019 - 10:20

      I moved from Commsec and IG to SelfWealth. SelfWealth has nice performance reporting features and low brokerage, but I still find myself logging into the old Commsec account to check some features that are missing in SelfWealth (since it's still fairly new, relative to IG and Commsec).

  • Jugg.Judy on 29/07/2017 - 01:36
    -1

    Don't use cmc, if you are after low brokerage, there are other providers to choose from.

    • Mkr on 31/07/2017 - 08:33

      I currently use nabtrade and i think i am gettig ripped off…. your insights into alternate providers would be highly appreciated!

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