If you want to buy and sell stocks you need to be aware how much commission you have to pay to make each trade.
Commission is the money you pay to your broker to execute a trade.
That means you pay money every time you buy or sell a stock.
Yep, they get you coming and going.
But not all brokers charge the same commissions.
And shopping for the best deal can have a big impact on your bottom line.
Luckily, there have never been more options for Aussie investors.
This is both a blessing and a curse.
On the one hand, commissions can be lower.
On the other, you may have much more information to digest before making a decision.
That’s why you should continue watching this video before investing your hard-earned money.
Our readers often find that doing their own research gives them the best chance at making money on the stock market.
So let me give you a head start. Let me show you how to compare commissions, fee structures and balance requirements.
Please remember this short ‘how-to’ guide is for information purposes only. It’s designed as your first step in choosing a broker.
At Agora Financial Australia, we do not favour one broker over another. It’s up to you to decide which one best meets your needs.
But I would say, don’t just choose the one with the lowest price. You may discover it’s worth paying a little more for the right broker…
To help you on your way, here’s a list of questions you may want to ask a broker before making your decision…
If you’d like, go ahead and pause the video now and write them down…
- Do they have 24/7 customer service?
- How much does it cost to place an order?
- Will the frequency of your trading lower your costs?
- How long will it take for your order to be executed?
- Can you earn interest on cash that is not invested?
- Do they provide research or other benefits?
- Can you trade international stocks and options as well?
Now before I give you a selection of brokerages available to Aussie investors, I want to note that we have no affiliation with any of the listed brokerages, nor do we receive a commission from them if you decide to use them.
Here’s the list of online stock brokers for you to consider…
Again, go ahead and pause the video so you can take note of them…
While every effort has been made to keep our information as up-to-date as possible, please remember that prices and other information are always subject to change.
I cannot stress this enough: before you open any brokerage account, do your own research.
So now you know what a share is… and you’ve found a broker… let’s get to the interesting part – what to invest in…