Author Topic: NZX - New Zealand's Stock Exchange access  (Read 1050 times)

The Investor

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NZX - New Zealand's Stock Exchange access
« on: October 09, 2018, 10:48:47 AM »
Hi all,

Does anyone know the reason quite a few brokers such as Interactive Brokers don't have NZX as an option?


oddballstocks

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Re: NZX - New Zealand's Stock Exchange access
« Reply #1 on: October 09, 2018, 11:04:39 AM »
Fidelity does. I've traded on it for years.  It's convenient as a North American, the exchange is open at 5pm EST and closes right near midnight.  When I was more active in NZ I'd buy/sell/watch while my wife watched TV at night.
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Jurgis

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Re: NZX - New Zealand's Stock Exchange access
« Reply #2 on: October 09, 2018, 11:11:06 AM »
Fidelity does. I've traded on it for years.  It's convenient as a North American, the exchange is open at 5pm EST and closes right near midnight.  When I was more active in NZ I'd buy/sell/watch while my wife watched TV at night.

I heard you could buy a ring of invisibility, slightly burned, but still beautiful... my preciousss.

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The Investor

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Re: NZX - New Zealand's Stock Exchange access
« Reply #3 on: October 09, 2018, 11:16:52 AM »
Thanks oddballstocks, Fidelity is expensive right?

I own some NZ shares via a company I own, but paid a fairly steep fee (0.25%, using Charles Stanley here in the UK), compared to paying "close to zero on IB".

Jurgis

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Re: NZX - New Zealand's Stock Exchange access
« Reply #4 on: October 09, 2018, 11:23:17 AM »
Thanks oddballstocks, Fidelity is expensive right?

I own some NZ shares via a company I own, but paid a fairly steep fee (0.25%, using Charles Stanley here in the UK), compared to paying "close to zero on IB".

If you're in UK, I don't know if Fido allows accounts from there. Also their UK commissions would likely differ from US commissions, so US commissions rate may not be very helpful for you. If you'd open US based account with them, then you're likely suffer currency exchange twice...

Fido commissions on foreign exchanges vary from $9 to $19 to higher. Whether that's expensive, depends on the size of your order.
Edit: I just tried an example trade and commission shows as 35NZD. Not sure if that's variable or not.

FWIW.
« Last Edit: October 09, 2018, 11:28:16 AM by Jurgis »
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oddballstocks

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Re: NZX - New Zealand's Stock Exchange access
« Reply #5 on: October 09, 2018, 11:25:45 AM »
Thanks oddballstocks, Fidelity is expensive right?

I own some NZ shares via a company I own, but paid a fairly steep fee (0.25%, using Charles Stanley here in the UK), compared to paying "close to zero on IB".

Depends on the price.  Fidelity is maybe $20 a trade? I don't remember exactly, but it's in that ballpark.  IB CAN be cheap, or expensive.

IB charges based on the number of shares.  If you're buying a few high price shares it's cheap.  I went to place a trade on a low price stock, and it was a $150 commission for something like $2k worth of stock. Purchased on Fidelity instead for $5.

If the commission cost is going to sway my investment decision, then I think it's safe to say I don't have a solid thesis or solid upside.

There have been times I've pushed around orders to save a few cents and in the end up paying $.03 more or something by dinking around.  That three cent upcharge has been multiples of the commission I was trying to be tricky with.
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Hielko

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Re: NZX - New Zealand's Stock Exchange access
« Reply #6 on: October 09, 2018, 11:33:55 AM »
Thanks oddballstocks, Fidelity is expensive right?

I own some NZ shares via a company I own, but paid a fairly steep fee (0.25%, using Charles Stanley here in the UK), compared to paying "close to zero on IB".

Depends on the price.  Fidelity is maybe $20 a trade? I don't remember exactly, but it's in that ballpark.  IB CAN be cheap, or expensive.

IB charges based on the number of shares.  If you're buying a few high price shares it's cheap.  I went to place a trade on a low price stock, and it was a $150 commission for something like $2k worth of stock. Purchased on Fidelity instead for $5.
While IB can be expensive when you do orders for low priced stock, the commision is capped at 0.5% of trade value. So for $2K worth of stock it shouldn't be more than $10...

The Investor

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Re: NZX - New Zealand's Stock Exchange access
« Reply #7 on: October 09, 2018, 11:49:23 AM »
Hielko/odballstocks,

Are you guys referring to IB charges for non-US equities? I only opened an account with them fairly recently (friends & family). And the charges for US shares are tiny. For example, calculating now, I paid 0.0015% (and 0.0017% for GBP to USD). This is only commission I'm counting, not the spread etc.

oddballstocks

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Re: NZX - New Zealand's Stock Exchange access
« Reply #8 on: October 09, 2018, 12:33:08 PM »
Thanks oddballstocks, Fidelity is expensive right?

I own some NZ shares via a company I own, but paid a fairly steep fee (0.25%, using Charles Stanley here in the UK), compared to paying "close to zero on IB".

Depends on the price.  Fidelity is maybe $20 a trade? I don't remember exactly, but it's in that ballpark.  IB CAN be cheap, or expensive.

IB charges based on the number of shares.  If you're buying a few high price shares it's cheap.  I went to place a trade on a low price stock, and it was a $150 commission for something like $2k worth of stock. Purchased on Fidelity instead for $5.
While IB can be expensive when you do orders for low priced stock, the commision is capped at 0.5% of trade value. So for $2K worth of stock it shouldn't be more than $10...

I don't think options are capped
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writser

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Re: NZX - New Zealand's Stock Exchange access
« Reply #9 on: October 09, 2018, 01:09:07 PM »
I don't think options are capped

IB charges a fixed fee for option, yeah. So if you buy a few $0.01 options then IB is expensive ($0.25 per contract) but your story regarding $150 commission for $2k in stocks is total nonsense.
« Last Edit: October 09, 2018, 01:10:50 PM by writser »
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