Best low cost share trading app

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CatTricks said:
Hi all,

Is anyone able to recommend a low cost/fee share trading app for beginners?

Any feedback would be greatly appreciated
Click to expand...

CMC markets would be a good one to start off with, as it is CHESS sponsored and you get 1 free purchase each day up to $1,000. It is $11 to sell though.

Stake is $3 trades for buy and sell no matter what the price is and is also Chess sponsored.

The above 2 are pretty no frills, hence the low trading costs compared to the big banks.

I have a Commsec account for all the research, but never trade there as they aren’t competitive price wise. You can do your purchasing through something like CMC, but use Commsec for the research aspect lIke I do. Because both are chess sponsored, you can even transfer your holdings to Commsec once purchased and track the price and news through there.

Sharesight is a free portfolio tracking service for up to 10 stocks and is valuable come selling time in terms of working out the cost base.

I prefer passive investing rather than trading for beginners or those beginning their journey with small funds, because brokerage will eat away your gains very quickly if you are regularly trading. $3 doesn’t seem like much brokerage wise, but it all adds up.

I would do your own research on the above and seek professional advice if you are unsure.
 

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Teagueeee15 said:
CMC markets would be a good one to start off with, as it is CHESS sponsored and you get 1 free purchase each day up to $1,000. It is $11 to sell though.
Click to expand...
I have thought about switching from Bell to CMC in the past didn't think it was worth the hassle for $15 v $11 brokerage given I don't trade that much. But seeing the free buys for under $1k really temps me now, even though I have a fair bit of money invested an ability to 'trickle' money into stuff I already own with no brokerage would be very handy.

Does anyone here use them?
 
Kram said:
I have thought about switching from Bell to CMC in the past didn't think it was worth the hassle for $15 v $11 brokerage given I don't trade that much. But seeing the free buys for under $1k really temps me now, even though I have a fair bit of money invested an ability to 'trickle' money into stuff I already own with no brokerage would be very handy.

Does anyone here use them?
Click to expand...

They are fine I think and just like any other broker really. I’m only really interested in topping up ETF holdings, so you can use something like Sharesight to check your performance.

I do think the shelf life of the 1 free purchase won’t last that long and think they are doing it to grab market share, but if you only want to trickle into ETF’s with a few dollars each pay packet, it is great.
 
Teagueeee15 said:
They are fine I think and just like any other broker really. I’m only really interested in topping up ETF holdings, so you can use something like Sharesight to check your performance.

I do think the shelf life of the 1 free purchase won’t last that long and think they are doing it to grab market share, but if you only want to trickle into ETF’s with a few dollars each pay packet, it is great.
Click to expand...
Yeah that's what I was thinking as well, it's I think been around for a year or something but it surely wont be left around for years.

I make initial stock buys of $3-5k in companies minimum but I have often thought it would be nice to have a lower level of brokerage also offered for small top ups under $1k.
 
+1 for SelfWealth, both the app & website are simple easy to use and they are CHESS-Sponsored.

Feel free to PM me if you would like a referral code to sign up to SelfWealth and get your first 5 trades free (saving $47.50)
 
What about for more long term holding?

Thoughts on Raiz (microinvesting) or Pearler? I'm looking to keep fees right down.
 
Teagueeee15 said:
CMC markets would be a good one to start off with, as it is CHESS sponsored and you get 1 free purchase each day up to $1,000. It is $11 to sell though.

Stake is $3 trades for buy and sell no matter what the price is and is also Chess sponsored.

The above 2 are pretty no frills, hence the low trading costs compared to the big banks.

I have a Commsec account for all the research, but never trade there as they aren’t competitive price wise. You can do your purchasing through something like CMC, but use Commsec for the research aspect lIke I do. Because both are chess sponsored, you can even transfer your holdings to Commsec once purchased and track the price and news through there.

Sharesight is a free portfolio tracking service for up to 10 stocks and is valuable come selling time in terms of working out the cost base.

I prefer passive investing rather than trading for beginners or those beginning their journey with small funds, because brokerage will eat away your gains very quickly if you are regularly trading. $3 doesn’t seem like much brokerage wise, but it all adds up.

I would do your own research on the above and seek professional advice if you are unsure.
Click to expand...
Thanks , i never thought to set up commsec just for the research.
 
If you're talking about managed funds etc I kept seeing that one with Keither Sutherland advertising and it had a lot of bad reviews. Every one I seemed to look into had bad reviews. I ran into a guy at a work function a while ago and he was trying to sell me onto an app but again there was a lot of chatter about not being able to access funds when you want etc.
 
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