Forum Archive Index - October 1999

["Colin S Pannell" <colin_s_pannell@email.mobil.com>]

Hmm - I never had to pay any fee to open an account with Direct Broking.
There's normally a minimum fee involved in buying /selling shares and a % on top
(if appropriate) depending on the volume of shares you're trading.  The
difference between an application between, say, $5000 worth and $1000 can harm
you I recognise.  If you're buying something like Westpac, why didn't you get a
firm allocation on shares through a broker like DF Mainland ?  The new (and
often over-subscribed) issues are a problem with allocations being scaled back.
In that case, your brokerage costs (relatively) go higher.  I recently saw a
sell trade in SFH for 100 shares at the price of 13 cents, making for a return
of $13.00   If I had held the shares, I would never have sold them since the
brokerage would have been more than the revenue from the sale.  Guess you have
to factor brokerage into buy/sell decisions or you may not make a dollar.

cheers, Colin



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