Best share brokerage for SMSF

[DaveM]

Hi, since Rabodirect canned their managed funds etc business, I have my SMSF sitting as cash again in a high interest savings account.

What recommendations do people have for a brokerage company for shares, managed funds, etf's etc? CMC Markets seems to have the lowest brokerage fee that I can find


Cheers
Dave

 

[greedy2000]

Are you a high frequency trader or an Investor?

If you are an investor, who buys decent sized parcels of shares, personally I'd just stick with the usual suspects from the major banks i.e.

Commsec
NAB online Trading ( I use NAB online and it costs me $15 per trade)
E*Trade (ANZ)
etc


The other Online Brokers out there are too small and you carry the risk that they will go under or shut up shop.

CMC's primary market is being a CFD provider. CFD providers carry a much higher business risk than your ordinary brokers.

You have to be very careful with CFD providers some use you shares as collateral for their CFD trading business. As such when the proverbial hits the fan, you could find yourself with a lot less money in your account than you thought...

If you want managed funds etc, have you considered winding up your SMSF and just investing your super money via a WRAP?

 

[redwing]

Hi, since Rabodirect canned their managed funds etc business, I have my SMSF sitting as cash again in a high interest savings account.

What recommendations do people have for a brokerage company for shares, managed funds, etf's etc? CMC Markets seems to have the lowest brokerage fee that I can find


Cheers
Dave

I use Etrade

Though through my SMSF they charge $40 per trade rather than the usual fee

Whom do you use for your SMSF Dave, I'm with SuperPlus but am looking around at other prices/fees etc at present

 

[avatar]

I use interactive brokers for share trading of my SMSF ($6 per trade) on ASX stocks.
Have never looked at managed funds through them so do not know if that is something that they offer.

 

[DaveM]

I have commercial property in my smsf so i cant just wind it up.

Thx for the suggestions, I will have a squiz at a few mentioned above. It is for investment not regular trading

My smsf is not through anyone, i manage it and have accounting and audits done each year

 

[Intrinsic_Value]

why do people look at only the quantitative measure (ie cheapest brokerage) and not balance it against the qualitative measures (ie are the people involved in my wealth creation actually add any value add).

If I was more naïve in this sector, yet I found someone who was good on the qualitative measure I would be happy to pay a substantial amount more than just the cheapest quantitative measure.

For the record, I am now paying more than $35k per year in 'brokerage fees' (although with the current arrangement its a % of assets under management).

And yes I am very happy to pay it, and no I am not looking for someone 'cheaper'.

For highlighting purposes, I pay my property manager I high fee of 7% rental fee, yet I never bother to 'beat it down', why? because he is a fantastic manager, and I am more than happy to pay it.

 

[MaxwellSmart]

I use Ebroking.

 

[redwing]

why do people look at only the quantitative measure (ie cheapest brokerage) and not balance it against the qualitative measures (ie are the people involved in my wealth creation actually add any value add).

If I was more naïve in this sector, yet I found someone who was good on the qualitative measure I would be happy to pay a substantial amount more than just the cheapest quantitative measure.

For the record, I am now paying more than $35k per year in 'brokerage fees' (although with the current arrangement its a % of assets under management).

And yes I am very happy to pay it, and no I am not looking for someone 'cheaper'.

For highlighting purposes, I pay my property manager I high fee of 7% rental fee, yet I never bother to 'beat it down', why? because he is a fantastic manager, and I am more than happy to pay it.

Hi IV

What do you get for your $35k per annum?

 

[avatar]

If you are not going to trade regularly Interactive Brokers may not be the best choice. They have a monthly charge if you have not traded enough in the month and the interface takes some getting used to. They are better suited to more frequent trading. In my experience Interactive Brokers trading platform is a superior offering to commsec and etrade but as intrinsic value has pointed out this only applies if you already have a set trading plan and are not looking for them to add value for you.

 

[austini]

I also use NABtrade for the SMSF. $15 for smaller trades but I often buy larger parcels where the cost for brokerage is similar across a number of brokers. Also I trade very infrequently being more a buy and hold, income investor (Listed Investment Companies mostly) so brokerage cost is not really all that important.

 

[Paul@PFI]

Alternative

Have you looked at ING Living Super?? Its a APRA Trustee fund but you can trade too. No fees!!! ASX trading. High rates.

 

[TheMarket]

Go with comsec or one of the Aussie CHESS sponsor broker

Interactive Brokers and other international providers though cheaper is not CHESS
so your shares are not hold under your name..its under a trust

and franking credits and stuff can be tricky and worse case scenario
if the provider goes broke it could be tricky and a legal mine field who
has what...I am not suggesting that will happen but if you want to be absolutely sure who owns what CHESS broker is the safest bet.

I am not a properties man I am 100% stock market ... I have my SMSF in the market I have my entire net worth in the market...I am here mainly to collect info so I know what business I can buy next on the market

 

[Intrinsic_Value]

Go with comsec or one of the Aussie CHESS sponsor broker

Interactive Brokers and other international providers though cheaper is not CHESS
so your shares are not hold under your name..its under a trust

and franking credits and stuff can be tricky and worse case scenario
if the provider goes broke it could be tricky and a legal mine field who
has what...I am not suggesting that will happen but if you want to be absolutely sure who owns what CHESS broker is the safest bet.

I am not a properties man I am 100% stock market ... I have my SMSF in the market I have my entire net worth in the market...I am here mainly to collect info so I know what business I can buy next on the market

best post of his thread.
Read the post, read it again, and then print a copy and frame it.

This post is so important