The blame for Bot trading without a minimum parcel or minimum dollar value can be placed squarely on the shoulders of the ASX.
They allow bot operators (brokers) to artificially increase the liquidity on the exchange and, like some other exchanges, may even reward the false liquidity by paying commissions on the high number of trades.
With the ASX charging only a very small fee of 0.15 basis points per trade (capped at $75.00) it is no wonder bots exist and are rampant throughout the market across all equities.
We, as retail customers, can't do it and are usually subjected to a minimum order value of $500.00 plus a minimum trade fee upwards of $15.
As a subscriber to live ASX data I have always had an interest in the underlying costs of brokerage services and when you look a little closer we are simply getting screwed.
PDY Price at posting:
2.0¢ Sentiment: Hold Disclosure: Held
