1 Share Broker for Aus, Another for International

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  Aureus on 21/05/2023 - 01:12

  +2

  Stake/IBKR combo is probably the lowest fees you can get. So I would recommend🚀🚀.

  Worth signing up to CommSec also, just to use the platform, not to trade, as Stake isn't great.

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  Hvrd on 21/05/2023 - 09:24

  that's what I've done

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  RotundPolarBear on 21/05/2023 - 16:44

  I prefer Schwab over IB nowadays as I like their web platform more. Easier to use.

  Tiger and Webull don't have a web platform so I didn't stay with them after getting the promos.

  • 

    AusBargains on 29/05/2023 - 21:34

    Are there any other reasons you like Schwab over IB like fee structure or better exchange rates?

    • 

      RotundPolarBear on 04/06/2023 - 14:55

      Well there are no fees on US shares on Schwab, unlike IB. Yes, the fees on IB are low ($1) so it doesn't matter to most people, but if you do a lot of trades a month, it adds up.

      Schwab has a minimum account opening of USD25,000 so keep that in mind. I hear from others they don't enforce this, but I'm not certain.

      • 

        AusBargains on 07/06/2023 - 22:33

        No fees on US shares? Sounds too good to be true… I need to research on Schwab.

        • 

          pennypacker42069 on 19/12/2023 - 21:38

          @AusBargains: They charge 1% for currency conversion. If you have a way to deposit USD to them directly it is a good deal

          • 

            NoPetNoKid on 22/12/2023 - 19:18

            @pennypacker42069:

            If you have a way to deposit USD to them directly it is a good deal

            what way would you recommend? Wise account?

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  Kenb0 on 21/05/2023 - 16:56

  I use CMC for Aus, IBKR for international.

  CMC works great for what I use it for, as it lets me buy brokerage-free up to $1000 of any share/ETF per day eg. one day, I can buy $1000 of NAB, $1000 of BHP and $500 of ANZ. The next day, I can buy another $1000 of NAB, and $1000 of TLS.

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    AusBargains on 29/05/2023 - 21:32

    I signed up for CMC on your recommendation and I'm loving the fee free buys. If Stake offers a good sign up promo maybe I'll switch but only if there's a promo.

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      Kenb0 on 30/05/2023 - 04:18

      Yeah its great for accumulating small parcels over time, no pressure to buy a minimum amount to make the brokerage worth it or anything like that. Glad you're finding it useful as well.

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  ShoeJunkie on 30/06/2023 - 14:07

  I tend to use CMC for Aus (ASX) & Schwab for US (NYSE)

  CMC has ANZ bank account where I can do what Kenb0 said above. While with Schwab, I get market exchange rate conversion and its free thanks to their JP Morgan Chase routing to my bank account at Schwab.