I only invest and trade on the SFM website. Occasionally I am asked about other websites, which I have no idea about. Today someone asked me about trading on the Vunani platform. I didnt even know they had one. Anyway - who else trades or invests on other platforms, be it ABSA, PSG, FNB etc. Can anyone tell me if these are comparative to the Standard Bank site? Which is better, which is worse - that sort of thing? Am curious. My bent would be mainly investing, so day trading sites, not that important to me.
As far as investing has gone SBK has been the best in my experience, especially looking at the costs, other websites that I have seen are generally more basic - no extra material. PSG Ive seen is by far the most expensive.
As far as trading goes...SBK is the absolute worst, theyre connections are too slow, theres often downtime...I could just go on and on.
Have long term investment accounts with Sanlamitrade,PSG, Nedbank and private broker (30 years), and CFD accs with Nedbank(BOE), PSG and IG.I find IG the best for charts and PSG the best for customer interaction and service.Don't do ALSI, but understand DWT is the favourite to trade the ALSI because of the tighter spread.
I've been using ABSA online trading for 3 years and recently changed to Standard Bank. The site is very simplistic snd does not provide basics like price alerts and stop losses. I am one of many who have requested these functions but no one responds. Minimum development went into improving the site. In the time that I have used it two changes weere noted: 1. Addition of flash based interface (same as the internet banking) 2. Addition of basic charting Costs are R120 minimum per trade excl. statutory charges, etc. No fixed minimum charge if you execute more than 5 trades (stand to be corrected) annually. Pros: Cheap Reliable connectivity although lately there have been a few incidents of downtime Cons: Very basic analysis tools no stop loss no price/sens alerts separate software or subscrpition required for analysis therefore not suitable for traders
Standard bank for investments - you can't beat the platform in terms of info and layout and cost. Nedbank for CFD's - hands down the cheapest, except for the IG and GT247 platforms but I don't trust either of those with my money). Can't fault IG for its charts though - excellent stuff
SBK is a good local platform. I also have a TD Ameritrade account for US equities, there are some pros and cons with this as well. The pros are that you get live prices for free, great research and great built in valuation tools, the cons are that the site is overloaded with information and you can get lost in it. The user interface is more confusing than SBK.
As Old Bill said "If you can find a better hole .." Swings and roundabouts - SBK is lower end : nothing like the UK equivalents but on balance its "about as good as it gets" if you look around the other offerings in RSA
I use DWT for Swordfish, thats the best trading package out there, especially for mechanical traders as you can code you trading system in the package. DWT service has also been very good and theyre connections are superfast. I believe BOE provides the same.
I cant imagine how, Vunani, a company of only 90 people can run an effective trading and investing website - unless you can automate most of it. Which is what I told the person looking for info on the Vunani site. I only use SFM and am very happy with it - for what I do.