I use selfwealth. They’ve been very good and I don’t have the issues you guys are talking about. I often wait till the closing auction to trade my larger positions in less liquid companies. Selfwealth is much cheaper than commsec too (flat $10 per trade). The data and functionality isn’t high end but it serves my purposes.
there is an alternative to ASX called CBOE. Some platforms allow you to route your orders directly to it but most just use what’s called best execution to route your orders to the best price available at the time. Unless it’s a market order I think it just goes to the ASX and sits in the queue.
im pretty sure that professional traders get to negotiate how much and how they pay for their trading either directly with the ASX or via brokers. Many would be paying very big $$$ a month to be allowed access and no trading fees, others would likely just pay a % of the total notional traded. The rules are meant to be the same for retail but the pricing structure to trade does make it skewed. I’m not sure why retail have a minimum tradable parcel if the instos don’t. Maybe special rules for “market makers” to provide liquidity.
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