Online brokers cut prices

Investors are returning to the sharemarket and to online brokers as economic and financial conditions improve. Online brokers are bringing their prices down as they compete with each other for business.

The cheapest execution only broker in the market at the moment is Amscot Discount with a rate of $14.85. Bell Direct is also very cheap at $15 or 0.1 per cent (whichever is higher) ANZ’s E*Trade charges $32.95 while Commonwealth Bank’s CommSec has a standard fee of $29.95. Suncorp has dropped its rate from $23.95 to $21.95 for standard trades.

Source: Sydney Morning Herald

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