are you saying comsec is not secure , i think they are more secure than nz brokers and they charge .12% for asx trades its about the going rate in aus around .1 - .12%
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The issue is not their financial security although FNZC has a lower credit rating than ANZ Securities which had ANZ Bank behind it. The issue is the adverse effect of having an Aussie broker between the NZ broker and the ASX. Under ANZ Securities these impacts were noticeable in terms of delays in getting orders posted but these have worsened under FNZC and there have been other issues whereby access to the ASX quotes/depth has been lost or delayed. I have lost deals becasue of these issues and as a result have lost tolerance with DirectBroking.
I only trade NZX stocks and although some are dual listed and I could use a different broker for them the whole currency conversion thing comes into play so just not worth going elsewhere.The reason the brokerage fees are higher apart from the lack of competition is due to the fee gouging by NZX themselves. PS-I agree the problems have been a real pain in the rear end.PPS-Just had a detailed look at the Commsec fee structure and as always the devil is in the detail eg they charge a platform data fee and $1.95 for a posted contract note for a start(Yes I'm old school and like all my contract notes sent out in paper form)
Speed to market should materially improve for the next two and a bit weeks. A really prolific trader I know has gone on holiday.
DB running a survey to find out what they can do better. Open util 25 March. Good opportunity to voice the concerns raised on this forum guys and gals