annqldau

I have an HSBC account with the intention of buying shares but they want me to buy $500 worth of shares at a time... .

Don't have that much spare cash to throw around at the moment. Just want to be able to buy say $100 to $200's worth at a time as sort of a hobby come risky savings venture for when we retire to the haven't a clue what pension we get stage.

So does anyone know any share trader accounts in Aus where you can buy small amounts of shares without paying a fortune in trade/commisson fees that's easy to use?

Thanks for any ideas in advance... .

Paul and Chloe

I have never traded shares in Australia but this site may provide some useful info:

http://www.infochoice.com.au/investm...es/default.asp

Cheers

Paul

geordie downunder

Short answer,don't bother,either commit and take an interest or leave well alone.Spending a few hundred dollars will get you nowhere for the simple reason that if you spend $200 now and they are worth 10x as much in 10-20 yrs they are still worth nothing.Spend $20,000 now and they are worth $200,000 over the same period then you have made a reasonable sum ,but still no fortune.You need to spend a lot of money to make yourself well off.as an exampleANZ bank could be had for $1.50 approx in 1980,they now trade at around $25 each on an undiluted basis.So if you spent $15000 back then and bought 10,000 of them you now have $250000 and a dividend income of around $11,500 for this fiscal year.Back then $15,000 was approx 18 months average wages,are you prepared to spend $80,000 now (approx 18 months wages) and wait for 26 yrs going through booms and crashes and never losing your nerve.The risk is in the investor, not the market,the market will always boom and bust(seen plenty of them) Commsec have good basic to intermediate information on the free site which I think you can join online,they give 10-20 year price and dividend info on most companies.your local library should have books on investing,remember those authors make a living from selling books ,not practicing what they preach.www.asx.com.au is the stock exchange site and they have free online classes for investing from basic up to derivatives,you can also do them at youir own pace.Good luck.

JackTheLad

You'll just have to save enough and buy $500 each time. It's not economical to buy $100 or $200 each time because of the charges. If I were you I would save up at least $1000 for each transaction.

Mrs JTL

marco121068

Cheapest broker fees seem to be about $20 - so if you invested say $200 then your investment would have to increase by 20% just for you to break even (don't forget your selling commission too!).

As others have said - I'd go for investing a little more.

annqldau

Cheers folks,

I know it's all just a gamble and not guaranteed to make mega bucks but just a way of spreading the possible savings and bit more exciting than just being in a bank account, plus you are less tempted to redraw the money and fritter away.

BartSimpson

Agreed....
Even if you think of investing $100 whats the min brokerage charge..from HSBC its >20$'s.... one way...
No point in going with HSBC...
Mrs JTL please return your title to your Mr.... hes the chopper champ
Bart

annqldau

That's why I was looking for someone with a lower charge for smaller amounts.

BartSimpson

If you know then let me know
I am sick of paying heigher brokerage...
Bart

Siren & Brian

How about putting the money into your super. Depending on how much you earn the government will contribute $1.50 for every dollar you put in yourself upto $1000 (Govt puts in $1500)

annqldau

Bit wary of pension schemes since all the UK disasters and the you put this in expecting this out but will now get something completely different.

I know shares hold a risk as well but wasn't going to put all my money there more sort of a hobby really.

BartSimpson

I think people who are geniuine investor wont worry about putting money in super and wait till retirement.
All those people(including me) would like to have liquid cash so that they can gamble. Its a mentality.
Bart

MartinLuther

Have you thought about investing in shares through a fund rather than direct investment?