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

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!

Comments

  • +1 vote

    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.

  • +1 vote

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

    •  

      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?

  •  

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

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

    •  

      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).

  • -1 vote

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

    •  

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