I started the signup process with Tiger but they wanted my passport, haven't spent the time to read about how they store/secure personal data so I did not continue any further for now
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I started the signup process with Tiger but they wanted my passport, haven't spent the time to read about how they store/secure personal data so I did not continue any further for now
I get that and I would have been fine with a small fee increase. But not a 280% increase. And not when the whole pricing structure is focussed on rewarding large investors at the expense of the small investors the platform was set up for in the first place.
That is my gripe.
I'm with you there :)
Online it takes a while to build momentum, but just one major screwup to lose it
IMO what is being seen is a really dumb move
Either someone has screwed up big time or some of the newer stakeholders have got greedy
We may probably never know the nuts & bolts behind the P&L account lines though.
If they played their cards right then they could have had both an increasing number of big fish
and the small fish happily sitting in their laps ;)
The small fish are where they started and now they seem to think kicking them all in the
teeth is okay ;)
With continued backlashing they might ease a bit; they have done it before with their earlier subscription model (although that caused a minor uproar too). And ASB (temporarily) backed down after public pressure when they were the first to announce major credit card rewards downgrades.
Hey someone should feed this to the Media :)
Nothing like turning things into a king sized scrum :)
Today:
re Tiger…..
https://www.stuff.co.nz/business/130...-tiger-brokers
re Sharesies:
https://www.stuff.co.nz/business/130...saction-prices
https://www.sharesies.nz/pricing?lid=ft6att5xv65m
if you scroll midway down this page they detail some monthly plans.
for a small investor like me the $15 monthly plan covers $5000 worth of buy and sell orders for $15 fees
if you were not on this plan and processed $5000 worth of orders at 1.9% brokerage that = $95 fees
i think i have that right.
If you read that carefully and all the fine print it's stored by a UK based company which put me off it. Stayed with Jarden/Direct when I moved away from Scareese's as found it much simpler due to it not being what it use to be. I can see quite a few moving away now or them backing down after the backlash.