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Every ASX Stock Broker Comparison in 10 Minutes | Australian Share Trading for Beginners - YouTube
Channel: The Healthy Investor
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Ok show me all the banks that let you trade
shares on the ASX.
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Now show me every other ASX broker, and the
micro investors too.
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Alright, now let's compare all of them together
and see which one is the best value for money.
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St George direct shares provides a tiered
fee starting from $19.95 for every 1st trade
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of the month, up to $29.95 for trades up to
$28,000 and then 0.11% of the trade value
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beyond that.
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It gives you access to international shares
and also has a nifty IPO centre which allows
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you to invest in IPOs.
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The screener also gives you basic analysis
tools.
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ANZ Share Investing has a similar tiered fee
structure to St George with different rates
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for the first order vs every subsequent order
in a calendar month.
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They charge $19.95 for trades up to $5000,
increasing to $24.95 for $10000 trades, $29.95
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for trades up to $28000 and 0.11% of the trade
value beyond that.
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ANZ also gives access to international shares,
IPOs and Chi-X.
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One difference with ANZ is that they give
Qantas Frequent Flyer points for the brokerage
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that you spend so that might differentiate
the platform from others if you're into collecting
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those points.
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NABTrade is the cheapest of the bank brokers
on average and its fees start from $14.95
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for trades up to $5000, this goes up to $19.95
for trades up to $20000, and 0.11% for trades
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over $20000.
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It has plenty of features like analysis, charting
options and margin lending, and is probably
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the closest rival to Commsec.
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NABtrade is cheaper than Commsec from $1000
trades and upwards, but Commsec is better
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value for money for small trades up to $1000.
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Speaking of Commsec, this is the most popular
and well known platform in Australia and with
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good reason.
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It's fees start from $10 for small trades
under $1000 and increases to $19.95 up to
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$10000, $29.95 up to $25,000 and 0.12% of
the trade size beyond that.
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But the main reason for its popularity is
its reviews, recommendations, and analysis
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tools to help you make the right choices.
and that provides value for the higher fees
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that they charge.
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In fact, I get a lot of my information in
the videos I make from their stock analysis
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tools.
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Westpac Share Trading fees are much simpler,
but their website doesn't make this clear.
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You pay the higher of $19.95 or 0.11% on all
trades regardless of trade size.
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Westpac also integrates a large number of
global stock markets but be careful to remain
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active at least once a year or you'll be charged
$63.50 inactivity fees for not making any
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trades on your account.
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Macquarie Online Trading has a similar fee
structure, though slightly higher than Westpac's.
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You pay the higher of $19.95 or 0.12% per
trade.
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The service does not have international shares
and is limited to ASX stock only.
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Also, the free silver package is delayed by
20 mins and you need to click to refresh stock
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prices, if you want dynamic live data, be
ready to pay at least $10 a month for the
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gold and platinum services.
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The Bank of Melbourne Directshares is identical
to the St George platform, which you can see
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here on their website which actually links
to a St George platform video.
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This actually makes sense since they are part
of the same banking group.
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The trick to keeping your brokerage down is
to trade less than $5000 on the first trade
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of the month, then the subsequent trades will
remain at $19.95 up to $18,000.
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HSBC Online Share Trading also has a simple
fee structure.
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$19.95 per trade up to $20000, and 0.11% of
the trade value after that.
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This is one of the lowest bank brokerage fees
in the market if your trades range from $10000
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to $20000.
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Their market map tool is great for understanding
how sectors are performing, but the platform
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only covers the ASX.
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The free silver package is delayed by 20 mins
and a gold package is offered for $10 a month.
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Suncorp Share Trade is the most expensive
bank stock broker at $21.95 for trades up
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to $10000, $29.95 up to $20000 and 0.12% for
trades beyond that.
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But if you have a mortgage with them, then
you get a discount on the brokerage and it
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becomes the cheapest of the bank brokers.
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You get live prices for free and the platform
also offers international share trading but
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it is extremely expensive and theres no mortgage
discount on this.
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The Bank of Queensland is able to match Suncorp
Share Trade Brokerage fees making it the cheapest
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Bank Broker beating out Suncorps broker fees
even with the discount for their mortgage
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holders.
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But once your trade is more than $17000 in
value, the fee is the same as Westpac.
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However you need to be aware that BOQs share
trading platform is essentially CMC Markets
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platform with a bank cover over the top.
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Now let's move onto the non-bank brokers and
you'll notice significant brokerage discounts
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from what the banks charge, starting with
Selfwealth.
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Selfwealth is easily the cheapest CHESS broker
available to Australians.
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Their fee is $9.50 per trade.
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That's it.
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No tiers of charges, no calendar month, no
percentage of trade.
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Buying $2000 of shares?
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$9.50 brokerage fees.
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Buying a million dollars of shares?
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$9.50 brokerage fees.
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Selfwealth also has access to the US market
which also charges $9.50 in US dollars which
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equates to about $13 Australian, far cheaper
than what other banks are offering.
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Stock analysis is provided by refinitive which
is surprisingly good and you can upgrade for
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just $9 a month for even more research and
recommendations.
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But they also have something that none of
the bank brokers do, a referral program, which
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gets you 5 free trades for each person you
invite and for yourself.
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Mines in the description below if you want
to use that.
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CMC Markets works a little bit different,
in that they reward its users for trading
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more.
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The first 10 trades every month has a fee
of $11 or 0.1% whichever is higher.
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But after that, it becomes $9.90 per trade
or 0.075% per trade.
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You also get extra features like live data
and research reports after you hit the higher
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tiers.
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Be aware that that there is a $15 monthly
inactivity fee which starts when there are
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no trades on the account for a continuous
12 months.
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Superhero is the newest broker to appear and
can boast $5 trading fees.
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But there are caveats to this.
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First, the order type available for a free
account is Market order only.
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You cant choose a limit order unless you upgrade
your account for $9 a month charged annually.
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Also, Superhero keeps its fees low by using
a custodian HIN number.
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What this means is that one HIN number is
used by Superhero for all shares and it manages
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its own registry about who owns what shares.
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In the event that Superhero goes bankrupt,
it may be difficult to get ownership of your
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shares, as it wont be as clear as buying under
your own HIN number.
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On the other hand, Superhero does allow free
PAYID into the transaction account, which
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is extremely handy, as opposed to $1 fee for
a BPAY transfer.
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IG Group is another custodian broker similar
to Superhero, which allows it to keep its
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fees as low as $8 per trade as they don't
need to pay the ASX fees when they transfer
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shares from one HIN to another.
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You can also get access to $5 per trade if
you made more than 3 trades in the previous
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month.
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IG also has access to the US market with no
fees per trade, but charges an inactivity
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fee as well of $50 per quarter.
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Having been around for 45 years, it does a
have a good reputation and will be around
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for a long time as well.
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Interactive Brokers have been around even
longer and is another custodian broker.
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Before we go into fees, let's make it clear
that this platform is not for beginners, it
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is extremely complex to use and is more geared
towards advanced day traders who trade huge
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amounts of money.
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Now that that's out of the way, the fees start
from $5 or 0.08% of the trade value, whichever
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is higher.
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You can also reduce the broker fees even more
by trading millions of dollars but if you're
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trading millions of dollars, broker fees is
the last thing on your mind.
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Theres also inactivity fees of $10 per month.
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Bell Direct operates under the CHESS registry
for each user and is much simpler to use with
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fees starting from $15 per trade under $10000,
$25 per trade up to $25000 or 0.1% of the
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trade value beyond that for the first 10 trades
per month, and reducing to $13 for the 11th
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to the 30th trade, or $10 per trade beyond
that.
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They also give free research papers from their
advisory team but you are limited to ASX stocks
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only.
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Phillip Capital is a broker that specialises
in more than 20 international stock exchanges.
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But for the ASX they are on the more expensive
side, with fees starting from $19.80 or 0.12%
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per trade.
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They do cover a lot of international exchanges
that's not found anywhere else so the convenience
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of keeping it all in one place is the only
reason to go with them.
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Saxo Markets is an interesting broker because
it allows you to choose between a custodian
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broker similar to Superhero and IG for trade
fees of $6.99 per trade, or a CHESS registered
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trade for $14.90 per trade.
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It also has two trading applications available
depending on your experience, a Web based
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platform for retail investors or a desktop
application for day traders.
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It also covers a range of international stocks
though the fees are significantly higher.
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Think Markets is a hidden gem of a broker
with a flat fee brokerage of only $8, beating
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out even Selfwealth while registering share
ownership via your own individual HIN number.
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There are no subscription fees, no inactivity
fees and no minimum trade fees.
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So why has it flown under the radar all this
time?
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I think that being relatively new, it isn't
being marketed as agressively and a lack of
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a referral program has kept the broker undeservedly
obscure.
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Netwealth is a wealth management company that
also offers their platform to trade the ASX
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and international shares.
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Their ASX brokerage fees start from $17.99
per trade up to $5000, $19.95 per trade up
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to $10000, $26.99 per trade up to $25000 and
0.11% of the trade value beyond that.
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You can also purchase their premium research
upgrade for $29 a month.
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But if all of this is too hard or you're not
ready to step into the world of ASX investing
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yet, then there are also micro-investing options
such as Commsec Pocket, Raiz Invest and Spaceship
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Voyager which helps you get a taste of investing
small amounts and watching your money grow
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at much lower risk by investing in ETFs and
carefully selected portfolios.
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Raiz invest charges $2.5 per month, Commsec
pocket charges $2 per trade, and Spaceship
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is free for balances under $5000.
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So there you have it, every broker available
to Australians to start their investment portfolios.
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I'd would personally rank the options as the
following:
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Number 3: Superhero, as the cheapest ASX broker.
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Number 2: Commsec, as the best financial analysis
platform, even if that comes at a price.
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Number 1: Selfwealth, as the best combination
of both price and analysis.
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Of course, you are also able to use a combination
of brokers to trade and analyse as you're
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allowed to have multiple HIN numbers.
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You can also use a free subscription to Sharesight,
the leading share portfolio tracker, to track
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and manage your ASX stocks.
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Sharesight tracks stock prices, trades, dividends,
performance and tax across multiple broker
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platform that you use and is an easy way to
keep an eye on your portfolio without manual
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entry into a spreadsheet. and if you sign
up with the link below, you'll save 4 months
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off any annual subscription.
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Or you can just stick with the free plan forever.
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So thanks for watching, remember to like and
subscribe for more videos like this, and I'll
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see you in the next video.
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