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Brokers, Broker Reliability, Online, Options, Data, News Discussion
crashtstdumy
post Posted: May 4 2017, 07:31 AM
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In Reply To: mcart117's post @ Mar 18 2017, 12:14 PM

I would suggest checking out Westpac Online trading. The platform seems to be identical to Comsec but in different colours. Cant say yet if IRESS works on it as I'm currently using a Adroid phone but I can say that having previously been a Macquarie Prime client but having to move due to Macquarie closing their Margin loans I found that BT Margin lending (owned by Westpac) the most competative in what they could offer. CBA rejected my application because I'm currently still traveling the world ( 5 years now) NAB offered me a credit limit of 1.1 Million at 5.8% variable rate and I signed up with BT because as a wholesale investor they approved a limit of 4.5 Million at 4.2%. LVRs on the blue chips at 75% which might be lower that NAB at 80% ion some blue chips.
The above may seem irrelevant when talking trading platforms but it is something to consider as the next step relating to the platform. Personally I view the market as high so I'm not drawing down on the loan until we have a crash but it's what I did during 2008 which enabled me to be classified a wholesale investor today. Good to have the ammo ready.

 
mcart117
post Posted: Mar 18 2017, 12:14 PM
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In Reply To: Brierley's post @ Mar 17 2017, 03:05 PM

Thanks for that Brierley.

I did manage to get it working on an old laptop, so I know it can work. But I'm darned if I can work out what's wrong with my main computer.

Besides this recent issue, I have no real complaints with commsec. I tried NABTrade for awhile, but the site was so full of gremlins I stopped using them after a single trade. I am therefore a bit nervous about trying any other broker.

 
Brierley
post Posted: Mar 17 2017, 03:05 PM
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In Reply To: mcart117's post @ Mar 17 2017, 12:37 PM

Yep, went through the same process with firefox/iress
However, unlike your experience, Commsec Iress is working ok for me using explorer/windows 10
So it will work, but don't ask me how.
There is a troubleshooting guide here

Also using my new Openmarkets account now so bye bye commsec once my free Iress with them expires.....


Said 'Thanks' for this post: mcart117  
 
mcart117
post Posted: Mar 17 2017, 12:37 PM
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Is anyone out there using Firefox? And do all brokers use variants of essentially the same IRESS application, which relies on Java?

I've used Firefox for years, but suddenly they've stopped supporting Java. To make things worse, Chrome doesn't support Java, and neither does MS Edge, the default browser for Windows 10.

Commsec have told me to use Internet Explorer, but I can't even get IRESS to work in that, and their tech support team seem unable to fix it, despite a number of phone calls and hook ups over the last few weeks.

Anyone else having issues like these with IRESS, and does anyone have any tips or suggestions?

 
Brierley
post Posted: Mar 10 2017, 01:54 PM
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In Reply To: arty's post @ Feb 2 2017, 12:11 PM

QUOTE
Did you know that you get only one daily Contract Note with one Brokerage, regardless how many small bites you take when buying or selling a stock?


Just started trading with them and the aggregation for multiple trades same stock/same day didn't happen.
Seems its not automatic. One has to request it in writing, but I don't know what their criteria is for granting the request.

 
arty
post Posted: Feb 2 2017, 06:13 PM
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In Reply To: Brierley's post @ Feb 2 2017, 02:13 PM

QUOTE
Are those centerpoint trades you're referring to ?

yes; and ASX offers them now as well, I believe - at least for some stocks. Sometimes, my order is actually showing as a CXCX on the trades screen. I know it's mine because my account will appear as the buyer or seller side. Other times, I only see the executed trade on my order pad, where it's marked done or partially filled; in that case I know it's found a match "elsewhere".

QUOTE
Do you find the broker reports useful at all ?
I'm guessing they could be useful to see whose buying/selling specs, although I guess the data isn't available until after T+2 ?

absolutely! Even after 3 days, the information is still very valid to see where the buyers and sellers have been. Not so much maybe in cases of one-day wonders, but those are mainly "organised" by groups of day traders, and you only find out about those if you're sharing a live chatroom with them. Knowing which broker's clients bought or sold 3 days ago isn't much use in those cases.




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I trade daily, but I am not a licensed adviser. Whether you find my ideas reasonable or not: The only person responsible for your actions is YOU.
I follow two rules: (1) There are no sacred truths. All assumptions must be critically examined. Arguments from authority are worthless. (2) Whatever is inconsistent with observed facts must be discarded or revised. We must understand the Market as it is and not confuse how it is with how we wish it to be. (inspired by Carl Sagan)

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Brierley
post Posted: Feb 2 2017, 02:13 PM
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In Reply To: arty's post @ Feb 2 2017, 12:11 PM

Thanks for the info Arty

QUOTE
And for over a year I've already been able to place "Best" orders that will go outside the ASX and get me a better price - usually half-way between the usual ASX levels.


Are those centerpoint trades you're referring to ?

QUOTE
It's true that Chi-X is currently not displayed, but I've been told that will come with the next version of Pulse


Chi-X included would be ideal. There's also a mobile app they've been talking about for a while......

Do you find the broker reports useful at all ?
I'm guessing they could be useful to see whose buying/selling specs, although I guess the data isn't available until after T+2 ?

 
arty
post Posted: Feb 2 2017, 12:11 PM
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In Reply To: Brierley's post @ Feb 2 2017, 09:59 AM

Yes, I'm still with OM, and very happily so.
It's not only the low brokerage, but also speed, service, and functionality that I like. Did you know that you get only one daily Contract Note with one Brokerage, regardless how many small bites you take when buying or selling a stock?
It's true that Chi-X is currently not displayed, but I've been told that will come with the next version of Pulse. And for over a year I've already been able to place "Best" orders that will go outside the ASX and get me a better price - usually half-way between the usual ASX levels.

Give Ginny a call and say Hello from me.
QUOTE
Virginia Owczarek
Designated Trading Representative
Level 2, 451 Little Bourke Street Melbourne VIC 3000 AUS
P +61 3 8199 7704 M +61 412 888 815
E vowczarek@openmarkets.com.au | openmarkets.com.au
ACN: 090 472 012 | AFSL No: 246705 Market participant of ASX, Chi-X, NSX and SIM VSE
CONFIDENTIAL INFORMATION. If you've received this email in error please contact me.




--------------------
I trade daily, but I am not a licensed adviser. Whether you find my ideas reasonable or not: The only person responsible for your actions is YOU.
I follow two rules: (1) There are no sacred truths. All assumptions must be critically examined. Arguments from authority are worthless. (2) Whatever is inconsistent with observed facts must be discarded or revised. We must understand the Market as it is and not confuse how it is with how we wish it to be. (inspired by Carl Sagan)

Said 'Thanks' for this post: Brierley  
 
Brierley
post Posted: Feb 2 2017, 09:59 AM
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In Reply To: arty's post @ May 19 2015, 10:16 PM

Arty
Are you still using Openmarkets and the Pulse platform ?

I trialled it in 2015, but was overseas at the time so couldn't open an account.

Thinking of giving it another go now. One attraction is 0.07% brokerage compared to the 0.12% I'm paying now.

I cant find any online reviews on Openmarkets/Pulse, or Pulse vs Iress etc. I do note that Pulse doesnt show ChiX trades whereas Iress does.

 
nipper
post Posted: Sep 19 2016, 10:18 PM
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In Reply To: arty's post @ Sep 19 2016, 09:54 AM

full service and advisory brokers slipping below the water .... on-line and alternative advice models seem to be in ascendency.

I've noticed brokers now more likely to get involved in LICs, especially launching new ones, as the old 'stock picking' model becomes redundant. Taylor Collison, Bell, Wilson HTM and Ord Minett are pushing a whole bunch of recent IPOs for fund mangers, those usually running unlisted product, wanting to squeeze into the listed space, with Listed Investment Companies. Outfits like Geoff Wilson's WAM will use the networks to pick up extra FUM at IPO time, but it's thin pickings after that.

And today, a tired old warrior, reinventing himself
QUOTE
Marcus Padley is one of the country's most recognisable stockbrokers, although he admits he's not particularly popular within his own industry.

The straight-shooting Englishman has built a successful business around his Marcus Today newsletter, but is also known for his habit of pointing out the shortcomings of his own industry through the media. He now has his sights set on funds management...

For the last 16 years, he has worked with private clients he built through the subscription-based Marcus Today, which he started while working as a retail broker at Bell Securities in 1998 following a career in the institutional world. He arrived in Australia in 1994, a "souvenir" of his Australian wife Emma's trip to London.

It was at Bell Securities that the father of four received some career-defining advice from Andrew Bell. "He said I'll teach you how to do broking. What you need is one client and one stock," Padley says. ....Off and running, he noticed a dearth of research in retail broking and set about writing daily trading ideas in an email which soon took on a life of itself.

"The newsletter business was hugely scalable and it overtook everything," he says. Through the newsletter he built himself his own client base, and eventually realised that these clients wanted a full suite of services.

Marcus Today later merged with financial planning firm Investment Strategists to create Marcus Today Investment Strategists, led by Pauline Hammer and Anna Garuccio. Rather than outsource investment ideas to a fund manager, the team is now branching into investing, launching two separately managed accounts (SMAs), which are distinct from traditional managed funds in that the client owns the underlying share position.

Padley says the traditional managed funds establishment is coming under pressure from the rise of the SMA in a world where returns are harder to come by and their business models are harder to justify.

"We had 30 years where the market went up 11 per cent per annum, with inflation at 5 per cent and interest rates at 7 per cent on average, business could grow," he says.

With interest rates and inflation at virtually zero, and growth hard to come by, fund managers that benchmark against GDP growth or stock market indices are adding almost no value, he says. "The game's going to be up." "For 99 per cent of the funds management industry, the tide's going to go out and they're going to be revealed for doing what you could do for $19.99 on the ASX – buying a listed investment company or a passive ETF because that's all they're delivering."

The SMA is what Padley sees as disrupting the funds management business by passing the ownership of the shareholdings directly to the client, based on stock picks by Padley's team, which reduces the involvement of the portfolio manager. It also gives the client their own tax position, an advantage for retirees in a zero-tax environment. The fund charges a 10 per cent performance fee, so if it doesn't make money, it doesn't charge a fee.

MTIS has launched two SMAs, the Marcus Today Separately Managed Account, which is just three months old, and the recently launched Equity Income fund. It has around $10 million invested so far.

....he says the re-subscription rate of his newsletter of up to 85 per cent was testimony that this 'tell it as it is' philosophy rates with retail clients. "We've had subscribers for 16 years, they wouldn't still be here if I was a bullshitter," he says.

The Marcus Today SMA is an aggressive strategy with just 20 stocks in the portfolio. Padley is not a believer in diversification, arguing a fund with 300 stocks across five countries and five currencies is riskier, particularly if the manager doesn't have an detailed knowledge of each company.

The criteria for stock picking falls under the "unsexy" acronym of TFTM, or themes, fundamentals, trends and management. The investment team start with a theme, then within that identify a basket of stocks and filter based on company fundamentals. They then look at trends, or charts, to see whether the stock's chart is showing the market is buying or selling, and then try to time the investment. The management is 95 per cent of the job, Padley says.

"Picking stocks is massively overemphasised as the way to succeed in investing," he says. "With the right post management system you realise that picking a stock is just a game of probability, all the odds are in my favour, it's got a good theme, good fundamentals, the trend's there at the moment but the day after you buy it that could change and you need to be flexible to be able to react to that."

Padley looks at return on equity rather than price-to-earnings or yield. "If I go along and see a stock that's on a high PE and low yield all that tells me is I'm on the right track because its popular," he said.

The themes Padley likes include the cloud, picking NextDC; internet software, naming Aconex, and Megaport; healthcare, picking Cochlear for its consistent RoE, MaynePharma and Nanosonics. He also names stocks linked to internet infrastructure, including telcos TPM, Spark, Vocus, and Chorus; Speedcast, Superloop and Netcomm.

He also likes industrials, and said while this sector might be bid up and vulnerable to shocks, they will continue to be bought on weakness every time amid a low interest rate environment.

The equity income portfolio has a greater focus on income, and among its top listings include BT Investment Group, Credit Corp, Flight Centre, Macquarie Group and Telstra.

Easy with only a few mill; can he scale it?



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
 


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