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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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885711 No.885711 [Reply] [Original]

Hello, I'm looking into opening a broker account (don't know who yet) and investing an initial amount of 15k into mutual fund(s) and hopefully $10k or more even year on wards.
The main question is how to stay ontop and active with a full time job and other responsibilities, I really only plan on buying and holding.
The second is, which broker would be best as an Australian?

>> No.885717

>>885711
CommSec is reliable and good but expensive
Nab (I use) had some technical issues sometimes so if ur trading don't use this, but, they are fine for investing
Idk I haven't used others, I think CMC is cheapest at $10 a trade, idk what the extent of their services are.

>> No.885718

Brokerage is irrelevant when you're only making four or five years annually

>> No.885720

>>885718

Four or five trades sorry

>> No.885721

>>885711
What >>885717 said.
I use Commsec but they're $20 per trade up to $10000. As long as you're not buying stupid small amounts ($500 a fund) it shouldn't be an issue. Over $10k it goes by %.
They've got a good app but I don't like their charts, if you're buying and holding though it's a non-issue.

>> No.885732

>>885717
>>885721
I did see that they were rated highly, how's the "Morningstar research"?

>> No.885761

>>885732
I use Morningstar for university, would honestly recommend do your own numbers and research but if you don't actually want to get the underlying numbers yourself then it's pretty good

>> No.885762

>>885732
Never used it tbh.
I'm in the same boat. I use it for my vanguard etf's set and forget. I'm more into forex/indices trading.

>> No.885768
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885768

>>885732
I don't use it as a means of investing, i use it as a means of consolidating my decision. I will give u an example. I thought TGR was a good buy a few months ago, was trading in a range back then, morningstar said buy so i bought. It dipped but it came back up and they recently won a deal with woolies to supply the salmon to them which is pretty cool. Looks like they are expanding and there is a growing demand for aquaculture cuz fishes are getting smaller cuz we keep all the big fishies and also we need to feed more people, great long long long term buy in my opinion.

>> No.885795

>>885768
That's kinda how I want to use it.
I figure I should try and learn to spot good investments then use Morningstar to see if my research is onto something.

>> No.885800

I use etrade, it does what i want it to do. Plus I can transfer money straight away using the anz app. Its about $20 per trade though

>> No.885809

>>885711
Don't buy funds, the fees they charge will destroy your returns

>> No.885810

If you absolutely must, just buy VAS which has the lowest fees, and is an index ETF.

>> No.885857

How about Options trading for US markets....?

love TOS platform but they closed Australian accounts don't knkw what other brokers to look in to

>> No.886928

>>885809
Glad I caught this.
Does anyone know just how large the fees are?