Especially when the IB standard retail broker fee is $6 compared to the SPP Harvester $15.
The more I look at this product the more I wish I hadn't invested if you are able to replicate it yourself via your own custodian account.
The setup fees are cheaper (unless you can buy 1 share) even with the $3k application fee but the broker fees greatly reduce your returns & the exit fees tie you in.
If you wanted to exit the product not only would you lose the cost of buying the 300 shares but you'd also have to pay them approx $500 for the privilege of doing so.
Basically you're down nearly $7.5k on day 1.
If IG is an option & it fails to make the application fee back in the first 12 months I'm definitely getting out with the reduced costs option.
Selling out & re-setting up isn't worth the payback time otherwise although you could run both in parallel (I doubt they'd pick-up on the duplicate applications) or do the sub 300.
Edit
Actually doing the shares not in the SPP Harvester is pretty good idea!
- Forums
- ASX - General
- SPP Harvester by OnMarket
SPP Harvester by OnMarket, page-365
-
- There are more pages in this discussion • 611 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)