With so many bargain stocks around at the moment I’m thinking about buying some as an investment, my problem: finding a good Australian broker with low transaction costs.
I’ve had a look at the typical banks (Westpac, Commsec, Macquarie Bank and etrade though it’s not a bank) for buying shares, the impressions I got from looking at their sites:
- High transaction costs
- Cost structures hidden away in hard to find places, mostly I gave up trying to find out where they will charge me
- No real interest in helping the client
I had a bit of a look at places offering CFD trading, I may look at it though I have my concerns about this as a long term thing… quite possibly incorrectly so.
The most promising I found was a place called Bell Direct, they look to be relatively new which may not be a good thing. Their website gave me the impression that they do have some interest in looking after their clients. I think I will probably signup for an account there and buy some shares.
If only they were as good and simple as Oanda!