There was plenty of excitement around the new inclusion in the BizNews Share portfolio during yesterday’s webinar. But for some, including me, it was disappointing to discover after the event that Standard Bank Webtrader clients are unable to purchase the Aussie-listed stock. Not for the moment anyway.
Standard Bank’s Brett Duncan told me afterwards that Australia is one of the few major exchanges Webtrader doesn’t cover. Reason: the Aussies apparently know how to charge top dollar – and as there has been very little demand for ASX shares from Webtrader clients, access was dropped.
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Duncan says “it was an economic decision – one we can review if there is enough demand.” Judging by the mails I got yesterday, coupled with the popularity of our portfolio’s recommendations, Webtrader might have good a reason to re-open Aussie shares. Brett’s direct address is [email protected]
Also read:Â Alec Hogg: SA business trusted, Govt not
There is an alternative. Ultra low cost stockbroker Easy Equities recently opened in Australia, so not surprisingly it does offer ASX shares – including Xero. On the Easy home page click on “activate a new account type” for links on how to open an Aussie share account. Trading works just like Easy’s popular US offering. Isn’t competition grand?
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