Yup I’ve done about 200k and no brokerage to date which seems mad after using commsec for awhile. Also costs nothing to transfer to another chess sponsored broker if you need to consolidate things etc.
I'm using CMC at the moment. For the exact reasons you stated. No fees and all the ETF/stock options. They previously didn't have osko for instant bank transfer, but I believe they just changed that- I'm yet to use it though.
I've got nothing bad to say about them. I feel like they will continue to get better too if they want to compete with other providers, especially in the reoccurring purchase area- I have no real reason to believe or support this claim though.
Oh... do CMC have osko now? That was the dealbreaker for me a few months ago when I was looking for a new online broker. I had my account all set up with them and ready to go, then tried to transfer funds to buy a particular stock when it had a massive dip, only to realise I had to wait 24 hours for a funds transfer. I moved straight across to Pearler.
yeahhh, the only reason I went with CMC in the end is because I'm consistently buying the same ETFs every 2 weeks with long-term in mind. So the small fluctuations didn't bother me. The Osko benefits is now just a great bonus.
I was considering pealr, what's you thought's on it?
Pearler seems ok, but I've only made one purchase. I'm mostly waiting for a big dip as I have a lump sum to invest.
I used Commsec for years and must say I prefer their system, reports and real-time information. But I chose Pearler because of the lower fees.
First parcel for a new holding must always be $500 anyway unless you are with a non-CHESS broker that supports fractional shares which is like Pearler or Stake or some shit.
Just go with CMC I would say, their registration was a bit slow/cumbersome when I signed up 4 years ago but I have no complaints about their service.
You just named literally the two other most popular brokers that are CHESS-sponsored lol. Superhero, Betashares Direct, and Commsec Pocket are examples that dont have a $500 minimum for the first order.
IBKR is a custodial broker. I am not aware of a minimum purchase size as long as you have sufficient cash balance for the purchase including the applicable brokerage fee, but I don’t think they support fractional units for AU listed securities. They do give a warning if the cash balance will fall below $100 after the purchase including the applicable brokerage fee.l, but that should not block the trade.
What did you try to buy and what was the error message?
Hi there /u/clancycalder,
If you're looking for help with getting started on the FIRE Journey, make sure to check out the [Getting Started Wiki located here.](https://www.reddit.com/r/fiaustralia/wiki/index/gettingstarted)
*I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/fiaustralia) if you have any questions or concerns.*
Betashares direct will allow you to trade any AU ETF with no commission in and out. I believe CMC have no entry fees but hit you with higher exit fees. Please correct me if I'm wrong.
Betashares Direct I'm doing $10 a day into 2 ETFs. Automatic daily transfer from bank to my account, then manual daily order. If I miss a day I just buy $20 instead the next day.
They're $0 on any ASX listed security.
[https://www.cmcmarkets.com/en-au/stockbroking/brokerage-rates](https://www.cmcmarkets.com/en-au/stockbroking/brokerage-rates)
It's very, very clear.
I use CMC. Haven't paid a single cent in fees yet because I DCA a small amount every month.
Yup I’ve done about 200k and no brokerage to date which seems mad after using commsec for awhile. Also costs nothing to transfer to another chess sponsored broker if you need to consolidate things etc.
100% CMC
I'm using CMC at the moment. For the exact reasons you stated. No fees and all the ETF/stock options. They previously didn't have osko for instant bank transfer, but I believe they just changed that- I'm yet to use it though. I've got nothing bad to say about them. I feel like they will continue to get better too if they want to compete with other providers, especially in the reoccurring purchase area- I have no real reason to believe or support this claim though.
Oh... do CMC have osko now? That was the dealbreaker for me a few months ago when I was looking for a new online broker. I had my account all set up with them and ready to go, then tried to transfer funds to buy a particular stock when it had a massive dip, only to realise I had to wait 24 hours for a funds transfer. I moved straight across to Pearler.
yeahhh, the only reason I went with CMC in the end is because I'm consistently buying the same ETFs every 2 weeks with long-term in mind. So the small fluctuations didn't bother me. The Osko benefits is now just a great bonus. I was considering pealr, what's you thought's on it?
Pearler seems ok, but I've only made one purchase. I'm mostly waiting for a big dip as I have a lump sum to invest. I used Commsec for years and must say I prefer their system, reports and real-time information. But I chose Pearler because of the lower fees.
First parcel for a new holding must always be $500 anyway unless you are with a non-CHESS broker that supports fractional shares which is like Pearler or Stake or some shit. Just go with CMC I would say, their registration was a bit slow/cumbersome when I signed up 4 years ago but I have no complaints about their service.
You just named literally the two other most popular brokers that are CHESS-sponsored lol. Superhero, Betashares Direct, and Commsec Pocket are examples that dont have a $500 minimum for the first order.
Cheers for the correction, I really never think about the fractional shares/alternate brokers so I don't ever really remember them.
Is this true for IBKR ? I tried to do my first etf buy foe 100 Usd and didn’t go through
IBKR is a custodial broker. I am not aware of a minimum purchase size as long as you have sufficient cash balance for the purchase including the applicable brokerage fee, but I don’t think they support fractional units for AU listed securities. They do give a warning if the cash balance will fall below $100 after the purchase including the applicable brokerage fee.l, but that should not block the trade. What did you try to buy and what was the error message?
Hi there /u/clancycalder, If you're looking for help with getting started on the FIRE Journey, make sure to check out the [Getting Started Wiki located here.](https://www.reddit.com/r/fiaustralia/wiki/index/gettingstarted) *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/fiaustralia) if you have any questions or concerns.*
Betashares direct will allow you to trade any AU ETF with no commission in and out. I believe CMC have no entry fees but hit you with higher exit fees. Please correct me if I'm wrong.
0.11% exit fees. Same as commsec and westpac.
Just use CMC and DCA at less regular intervals, over the long term it shouldn't make a huge difference.
Betashares Direct I'm doing $10 a day into 2 ETFs. Automatic daily transfer from bank to my account, then manual daily order. If I miss a day I just buy $20 instead the next day.
[удалено]
Considering CMC markets is $0 brokerage for purchases of <$1000/day/security, no it’s not.
I think at one point in future, we might have to withdraw regularly so CMC 11$ for selling isn’t the cheapest option
Given they're CHESS sponsored, move the units over to a cheaper broker to sell (i.e. Stake).
Makes sense. I have free trades as reward with Stake so basically covered for next 1-2 years.
[удалено]
They're $0 on any ASX listed security. [https://www.cmcmarkets.com/en-au/stockbroking/brokerage-rates](https://www.cmcmarkets.com/en-au/stockbroking/brokerage-rates) It's very, very clear.