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so you've decided that you want to start investing in shares and you want to know where you can buy them or you want to see if your current broker is giving you a good deal so let's have a look hey guys welcome back to the channel if you're new here remember to click that subscribe button and in this video we're going to cover some of the most popular online brokers in australia so we're going to have a look at com sec self wealth and stake and compare the platforms the markets they trade in what fees they charge and also what current promotions they have and at the end of the video we're going to compare each one of these to see which one is the best option for you when trading on the asx or on the us markets first we're going to start with comsec which is the most popular online broker their platform in my opinion is one of the best and it's one money magazine's best feature packed online broker award for 14 years running so let's log into comsec and i'll walk you through its platform and show you guys some of its features so here's what the watch list looks like where you can add and remove stocks that you're wanting to keep an eye on and you can keep multiple watch lists as i've said up here moving across to the alerts function you can set up alerts on your email or on your phone via the comsec app now it's customizable which is good because you can choose which triggers you want for which stocks so you can choose certain triggers such as when a price falls below a certain price or rises above a certain price and other options to receive alerts are when there are market sensitive announcements when the stock goes ex-dividend or if the volume exceeds a value which again you choose moving across to the research part of comsec this is where it sets itself apart from other brokers and why it has won awards here on the landing page you can see what's happened on the day and what's happening in the international equities and commodity markets there are also daily reports and videos which you can access on this page as well now if you want to research a specific sector you can jump into the sectors tab to see what's happening in each sector and how it's performing jumping across the recommendations here you can see the recent changes in recommendations from goldman sachs and morningstar and it also provides you with access to their research reports where you can see what their ratings are for each company and what their price target is now their trading section like most brokers is easy to follow and intuitive so you can choose which stock you want to buy or sell the quantity you want to buy or sell and whether you're buying or selling at the current market price or at a price limit now the price limit is the maximum you're willing to buy a stock for or the lowest you're willing to sell a stock for let's have a look at the fees for trading on the asx and on the us markets now if you're trading on the asx the fee structure is quite straightforward so you pay a brokerage fee every time you buy or sell a parcel of shares now some brokers will charge you a flat fee and other brokers like comsec will charge you a fee depending on the transaction size now for us trading there are usually two types of fees so the first one is again a brokerage fee which you pay on every transaction and the other one is a currency conversion fee and for the conversion fee have a look at whether it's just on transfer into your account or if it's for every single trade so here are complex fees now one thing to note about comsex australian trading fees is that it is cheaper if you have a linked commonwealth direct investment account where funds are debited or credited from when you buy or sell shares now it's really their way of gently encouraging you to open up a cdia account which in my opinion is fine because the cdia account has no monthly account keeping fee and there are no fees for online transfers direct debits or withdrawals from atms so comsex fees aren't the cheapest but they don't market themselves on this but rather on all the features available on their platform and how user friendly it is so some people will cop the higher fees with this and the safety of the cba brand however for us trading compsex fees are highly uncompetitive with both higher brokerage fees than their competitors and a higher conversion fee which is charged on every trade rather than just once when you transfer aud into your usd account now there is also a 25 usd inactive fee to be aware of which is charged when you have us holdings but don't make any trades in a calendar year one benefit of comsec is that it has two settlement days which means that you don't need to have funds in your account on the day that you buy your shares so for example if you bought shares for five thousand dollars and sold shares for three thousand dollars on the same day the settlement would be for two thousand dollars in two business days time on comsic you can trade on all the major exchanges including the nasdaq and the new york tokyo and london stock exchanges so if you're looking to invest in a specific international market outside of the us comsic could be a good option given how many exchanges you can trade on the benefit of this is that if you want to buy on a particular day you don't need to wait for funds to clear into your account before making that purchase being the market leader comsec don't run too many promotions and as far as i'm aware there aren't any current promotions going on next let's have a look at self wealth which is growing in popularity due to its very competitive fee structure now logging onto southwest platform you can see immediately that it doesn't have all the bells and whistles of comsec particularly when it comes to the research tools however it does have some unique features particularly around comparisons with other traders so let's have a quick look at that like comsec there's a watch list which performs the same function over to the comparison section where you can compare the performance of your portfolio against the performance of other traders and on the member section you can look up other members and their portfolios to check their performance if any members have portfolios you're interested in you can also add them to your watch list you can also find members with similar interests and circumstances as you and you can also look at the top members on self wealth so if we go back to the landing page if you want to maintain privacy over your portfolio it is important that you choose a nickname for your account that doesn't allow people to identify you now let's have a look at southwest fees because this is where it comes out on top of its competitors it has a flat 9.50 brokerage fee irrespective of transaction size when trading on the asx and for trading on the us markets it also has a flat 9.50 brokerage fee but this is in us dollars and it has a currency conversion fee of 60 basis points so on south wealth you can trade on the asx or you can trade on the us markets which is the nasdaq and the new york stock exchange and self-worth run an ongoing referral program which means that if you use a referral link you'll get five free trades and so will the person referring you so if you want to sign up to self-wealth i've put my link in the description below so you'll get five free trades and so will i next let's have a look at stake which is a low cost online broker if you're wanting to trade on the us markets onto stake's landing page and it is quite a slick setup where you can see the day's performance of the major indices top performers for the day some news articles and you can also filter stocks such as the ones hitting 52-week highs shorting funds stocks with high dividend yields and other options now like on other platforms it does have a watch list as well if you go into a stock you can go through the headline financials including the market cap p e ratio and you can also see the company's recent earnings results and news articles on that stock there is also a function to filter stocks or etfs by their sector industry and region and this can be a good way to research certain sectors or industries that you are interested in investing in now for example if i wanted to invest in small or mid caps in the entertainment sector i could simply apply those filters the big benefit of stake is that there is no brokerage fee however note that for stake there is a minimum conversion fee of two us dollars even if you select the minimum funding amount of 50 aud and if you want to have the funds converted in time for the next trading session an additional 0.5 percent fee occurs also on the first funding stake charges five us dollars for filling in and filing your w8 ben form on stake you can only trade on the us market so you can trade on the nasdaq or the new york stock exchange and one really handy feature of steak is that you can buy fractional shares to say for example i wanted to buy shares in alphabet and they're currently trading at around 2100 us dollars so if i wanted to buy with a different broker i would need multiples of 2100 but with stake i can invest any amount i want and if it's less than 2100 i would just get a fractional share and stake also have a regular referral program where if you sign up with the referral link you will get a free stock if you fund your account within 24 hours so you'll get a free stock of either nike gopro or dropbox when you sign up and you fund your account within 24 hours and if you are interested in that please use my referral link in the description below as we'll both get a free stock so next let's compare the brokerage fees for trading on the australian markets and the us markets to see which broker is the right one for you first on the australian markets i've pulled a few of the competitors on the market so you guys can have a full view of which broker has the lowest fees a few things to note are that cmc markets and bell direct have cheaper brokerage fees the more frequently you trade and they start reducing their fees once you hit your 11th trade and onwards for the month now ig also drops down to a 5 or 0.05 percent fee if you've made three or more trades in the previous month i've put an asterix next to ig and superhero as they operate under a custodian model as opposed to a chess sponsored model in short the difference is that you own the shares directly with chess sponsored brokers however with the custodian model the broker buys through a custodian so a middle person who holds the shares on your behalf this means that in the event of a broker or custodian going under getting access to your shares is a bit messier than with a chess sponsored model where you would just organize for your shares to be transferred to your new broker taking into account the chess sponsored model versus the custodian model if you're a buy and hold long-term investor like me self-wealth makes a lot of sense and whilst the custodian model does have some benefits like lower fees i prefer the peace of mind of buying through a chess sponsored broker so when trading on the us markets they all do use a custodian model so it's unavoidable but it is important to know which custodian the broker is using self-wealth used philips securities which is headquartered in singapore and has about 35 billion dollars of funds under management whereas stake users drive wealth and their custodian is citibank which is one of the largest in the world and has about 22.8 trillion dollars of funds under management a benefit of using stake is that the us broker is registered with finra the u.s regulator which means that up to five hundred thousand dollars of your holdings are protected and also when trading on the us markets you do need to fill in a w8 ben form which allows you to claim concessional tax treaty benefits and you won't be subject to a higher withholding tax now this table from comsec shows the difference of filling this form in so in their example if you sold 10 000 us dollars worth of shares even with no capital gain thirty percent of the proceeds would be withheld for both comsec and for self wealth you fill in this form yourself and you just submit it to them and they'll send it through to the irs whereas with stake they'll automatically fill in and file your form once you fund your account the first time but they do charge you a five us dollar fee for doing this and note that a w8 ben form is generally valid for three years from the date of signing now let's compare the combined brokerage fees and the currency conversion fees when trading on us markets now i've put a comparison on the screen assuming no capital gains and that you have bought and sold the same parcel of shares for example on the one thousand dollar column i've assumed you've bought one thousand us dollars worth of shares and sold it for the same amount and i've stated what the associated fees would be so if you're looking to buy smaller parcels of shares or to trade more frequently stake would come out easily on top however if you're looking to regularly invest in the us market without frequently selling here's a table comparing just the broker fee on purchase plus the conversion fee and you can still see that the parcel size would have to be significant in order for self wealth to come out with lower fees than stake now overall in my view if you're after the most competitive fees i would use self-wealth when trading on the australian stock market and i would use stake when trading on the us markets and if you're interested in signing up to either of these brokers i'd really appreciate if you use my referral link which i've put in the description below but for now that's all it for this video and i'll see you all next time