Who's charging what for online broking

New Zealand brokers

Background

Services include

Cost

Access Brokerage:

Web-Broker www.access-brokerage.co.nz

Web-Broker just launched with flat rate for trades. Currently negotiating to offer trades in overseas securities.

Order placement, status, alteration, cancellation etc. Claims to be the most automated service (internet connection only needed)

$29.50 per trade

Direct Broking:

Direct-Trade www.directtrade.co.nz

Launched in August after 3mth trial. Expect direct trade to be 40% of business within a year.

Encrypted info service, portfolio updates, real-time prices, immed order confirmation etc. NZSE and Aust-listed stocks.

0.7%. Also for NZ $20 min plus $4 trade fee, for Aust $A50 min plus Aus stamp duty

DF Mainland:
DFMTrade www.dfmtrade.com

Since 1996: says it was the first to operate online in Southern Hemisphere. Now broadened to retail clients.

Immediate order confirmation, real-time prices etc, access to DF Mainland institutional research

0.7% with $20 min

Australian services available to NZ investors:

E*Trade Australia: www.etrade.com.au

US-based firm, trades available for NZ investors for the last six months

Info on Aust and US stocks, trades only in Australian-listed securities

$A49.50 per trade up to $A75,000, 0.1% for trades above that

Sanford Securities: www.sanford.com.au

Perth-based firm with large online service

Trades only in Australian-listed securities only. Extra financial information service for monthly charge

Larger of 0.1% or $A28.95 per trade, max order $A50,000