Forum Archive Index - October 1999

[bzo11 <bzo11@student.canterbury.ac.nz>]

Hi, Colin,
You have given a very important information.  I recently applied an
account in direct broking which charges a flat fee of $29.95.  The
normal brokage is 1.5%, then you can only save money if your single
order is larger than $2000 worth shares.  However if you asked for $5000
worth share and at last you just get $1000 worth share, do you still
have to pay the flat fee? 

Colin S Pannell wrote:
> 
> I've used Direct Broking for buying and selling.  It certainly saves some 
>money
> on brokerage and the service has been very reliable.  On the downside, you 
>have
> limited online options to choose from and you may pick the @market price for
> buying assuming no great price changes will take place between now and you
> hitting that enter key.  To my cost, I've found those seconds can make a big
> difference.  Guess I'm going to be a bit more cautious now where a few cents 
>in
> a buy or sell decision will make a sizeable difference to profit or loss.
> Probably for peace of mind, I'll then revert to a phone call to my broker.
> 
> cheers, Colin
> 
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