re: cheapest of all brokerage
Here's the details. I just sacked etrade pro to use this mob and it has been great. Has the old Bourse data iress screen with blue background and I find it quicker than etrade pro.
Their blurb:
Using Trader Dealer's WebIRESS trading platform, you are able to trade for a flat fee of $33 (inc GST) for trades up to $1 million per confirmation.
No additional fees are charged for Stop Loss (contingent) orders - these are priced exactly the same as a normal live order.
There are several unique aspects to this commission structure that we believe makes trading through Trader Dealer more cost effective. Most brokers charge brokerage on a per order basis. Trader Dealer recognises that you may wish to spread your purchases and sales over a trading session, and feels that a decision to do this should not be unduly impacted by cost considerations. In order to achieve this goal, Trader Dealer charges per confirmation issued to you. This charge is not inclusive of Software & Data fees (see below under Software & Data fees).
Confirmations are issued at the end of the trading day for any transactions that occur. An individual Confirmation is issued for a buy or a sell in an individual stock, and is issued irrespective of whether an order is deemed to be complete, i.e. you wished to purchase 1,000 shares and only 800 are completed. If the balance of this order is filled the next day then a new confirmation would be issued for the purchase of the remaining 200 shares, i.e. in this situation two confirmations would be generated thus resulting in two brokerage charges of $33.
Multiple trades at up to 6 different price levels and $1,000,000 in value in total can be placed on one confirmation. Further trades at additional price lines will appear on a second confirmation on which brokerage will also be charged. Trades above $1 million are charged at 0.022% (inclusive of GST) of the trade value.
Trader Dealer offers all investors the same low brokerage fee.
