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post Posted: Sep 30 2020, 04:13 PM
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Posts: 7,619
Thanks: 2565

with the USA broker Robinhood offering free brokerage, at the cost of a trade being accessible to HFT (nothing is free), there are new outfits setting up in Aust that provide cheap, or at least cheaper, brokerage than what we have become used to.

Latest to undercut the Aussie market is Superhero, offering a flat fee of $5 per trade and optional $9 monthly subscription .
As well Selfwealth, an ASX listed entity (SWF), offers reduced rates, at least for small trades. Share brokerage is only $9.50 per online trade, no account fees, no scaling brokerage fees.

And those who only trade occasionally, the OpenTrader Investor Wealth platform has no monthly fees, offers charting, price alerts, conditional orders, unlimited watchlists, live portfolio valuation and access to their proprietary Asset Greed/Fear Index. Brokerage starts from just $5 a trade.

Just make sure you stay with a HIN. That way, you own the shares. Some sneaky proportional investing platforms do not offer that, but rather combine and allocate. Fine when it is going well, just do not moan and carry on if (when?) it gets into trouble. Read the small print.

"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
post Posted: Nov 2 2011, 11:37 AM
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Looks like another one bites the dust....

Hope no one have their moey with this mob...


post Posted: Sep 3 2004, 10:49 AM
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Posts: 270

QUOTE (mattbl @ Thursday 02/09/04 08:58pm)

Thanks for the replies

Here is an extract of the email I got

Thanks again

Thank you for contacting Westpac Broking.

Westpac Broking does not accept conditional orders such as 'all or
nothing'. Hence there are instances where your order may only be
partially filled or completed over several days. If your order is a
"day only" order, the unfilled portion of the order will be purged from
the market, and you will be charged full brokerage on the part purchase
which has taken place.

As your order is not a "day only" order, then the remainder of the
order will remain on the stock market until the order expiry date.
Completion of an order over different days will NOT attract additional
brokerage. The brokerage will appear on the first contract note and not
on the subsequent contract note/s.

EDIT: And my order was filled today biggrin.gif

post Posted: Sep 2 2004, 08:58 PM
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Posts: 270

Your right about that.
These are company options listed on the asx

I'm going away for a few weeks so I'm in the process of selling up. I want to go away and not think about anything to do with stocks except maybe read the Fin Review cool.gif

post Posted: Sep 2 2004, 08:46 PM
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In reply to: mattbl on Thursday 02/09/04 07:37pm

I didn't know Westpac traded options. I thought they only traded warrants.

Have a good one

Happy 2

Have a good one

Happy 2

"Knowledge is a process of piling up facts; wisdom lies in their simplification".

Caveat Emptor: the above comments are merely opinion, not advice.
post Posted: Sep 2 2004, 07:37 PM
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Posts: 270

With Westpac the order is either good for the day or you can use the default future date setting which is at 21 days.
You can fix the date longer than 21 days if you like its just a matter of setting the expiry date you want.

I chose the 21 day option so the order is still open.

They never got back to me this afternoon.




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post Posted: Sep 2 2004, 07:21 PM
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The guys here are part right/wrong... it really depends on HOW you entered your order.

When creating your order your offered two options
~Good for Day
~Good Until Cancelled

It really depends on which one you selected... but if you selected "Good Until Cancelled" texas4qld is correct, you will not get charged twice.


Don't stall a plane
post Posted: Sep 2 2004, 07:15 PM
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Only equity orders including warrants remain in the system. Option orders get purged everyday.

post Posted: Sep 2 2004, 07:04 PM
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In reply to: Bloodwynch on Thursday 02/09/04 06:50pm

The outstanding order should stay in the system until it is filled. You should not have to resubmit anything. No more brokerage will be charged but you will get another contract note to show the completion of the transaction.

post Posted: Sep 2 2004, 06:50 PM
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Posts: 517

Your unsold portion will be purged from the market after the end of day. You must submit another sell order for the remaining options which will generate another contract note.


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