🔒 Alec Hogg: How to buy Xero shares

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.

Also read: Alec Hogg: Adding Xero to our portfolio

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.
___STEADY_PAYWALL___

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: 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?

NB FOR YOUR WALL STREET JOURNAL ACCESS…

Because of The Wall Street Journal’s credential requirements to access its site, your password MUST be at least 8 characters and include at least one letter and one number; and it MAY NOT contain any special characters (ie #, !, @ etc). To maintain access to WSJ.com, you MUST enter our partner’s website at least once a month via BizNews Premium

TO LISTEN…

Latest audio on BizNews Radio.…..(click on the link to access)

NB FOR YOUR WALL STREET JOURNAL ACCESS…

Cyril Ramaphosa: The Audio Biography