Yes that fee is correct.
GST is also on top of that.
The explanation I got for the high fees is that it pays for the algorithm that allows them to sell the high volume of SPP shares ASAP without crashing the share price.
Do it yourself & you're selling peanuts in terms of volume straight away with no impact.
I mentioned Superhero & was told that their Corporate Action function doesn't operate efficiently, so you'll have to report back to see how true that is.
This may also interest you.
'
- We have a watching brief on the relationship between RobinHood and Superhero …..noting the $USD65m fine by the SEC regarding misleading customers'
The proof's in the pudding, if only you knew what share next would have a SPP you could try it out without all the time & effort of setting it all up.
Personally I'm very happy using Commsec's platform & so have no interest in a low cost provider, I'd only consider adding Superhero or similar to do a SPP,
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SPP Harvester by OnMarket, page-253
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