AI Legalese Decoder: Simplifying the Choice Between IBKR and Sharesies for Long-Term Investing
- December 11, 2023
- Posted by: legaleseblogger
- Category: Related News
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**Comparing Interactive Brokers and Sharesies for Investing**
As I delve into the world of investing, I find myself caught in a web of confusion regarding which platform to choose for my investment venture. Two options that have caught my attention are Interactive Brokers, also known as IBKR, and Sharesies. Both platforms seem promising in their own right, but I am struggling to make a decision.
Interactive Brokers is a well-known and established platform in the investing world, offering a wide range of features and services. However, I am specifically interested in investing in US stocks at the moment. Does Interactive Brokers offer an advantage in this area, or would I be paying for features that I do not necessarily need?
On the other hand, Sharesies is touted as an easy-to-use platform that comes with lower charges compared to Interactive Brokers. This could potentially save me money in the long run and streamline my investment process. Nevertheless, I am concerned about whether it provides the same level of functionality and access to US stocks as Interactive Brokers.
In order to make an informed decision, I would appreciate a comprehensive list of the pros and cons of each platform. Additionally, I am eager to hear about your personal experiences with using either Interactive Brokers or Sharesies. Your insights could greatly aid me in determining which platform aligns better with my investment goals and preferences.
Thank you in advance for your assistance.
**How AI Legalese Decoder Can Help**
AI Legalese Decoder can help in this situation by providing a detailed analysis of the features and services offered by Interactive Brokers and Sharesies. By using the AI Legalese Decoder, you can gain a better understanding of the pros and cons of each platform, as well as any potential legal or regulatory considerations that may impact your investment decisions. This can help you make a more informed choice based on a comprehensive evaluation of both options, ultimately guiding you towards the platform that best suits your specific investment needs and objectives.
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Rewritten Content:
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****** just grabbed a
Sharesies charges 0.5% margin on the FX and 1.9% to buy the shares.
IBKR charges US$2 minimum or 0.002% (0.2 bps, eg 0.2% of 1%) margin, whichever is higher on FX. They charge US 0.0035 per share to a maximum of 1%, to buy the shares or ETFs.
IÔÇÖve got about $200k with IBKR, no issues.
(decimal places fixed)
IBKR is a big boy platform. It takes some getting used to, but has all the tools if you want to trade shares and learn about options.
Sharesies / Stake / Hatch have higher FX fees but a simpler interface, and are great if you want to pick a few stocks to play.
Investnow have a solid range of funds if you’re just going to buy and hold, and want simple taxes. (Mostly PIE funds)
If you use IBKR you will be able to sell options against your long stock and put additional cash on your account beyond just huge gain in stock value. Sharesies youre just stuck with the stock price going up or down.
Used Sharsies to start up they hiked their prices I then left all my new money for investments going to IKBR, still holding some positions in Sharsies though.
Don’t like either. IBKR too many options and Sharesies too gimmicky. I use Hatch.
Sharesies is a still a pretty cost effective option if you’re just playing around with small amounts or maximising one of their plans. IB will be much cheaper for large transactions though, and consider selling eventually will be a “large transaction” if you want to do it all at once, there’s more to consider than just the buying
Good article:
https://moneykingnz.com/sharesies-review-still-a-good-investment-platform-in-late-2021/#2
IÔÇÖve been using Sharesies for ages. Decided I didnÔÇÖt want to use them for new deposits after the fee changes (IÔÇÖve kept my existing deposits there). Had a go with IKBR but found it a bit much.
IÔÇÖbe switched to Tiger Trade. Good interface, decent level of trade info and analysis, live price updates. You can do options, futures etc if thatÔÇÖs your jam or just buy shares including ETFs on the US, Australian, and HK markets. They give you 4 free trades per month and $2000 of FX per month commission free. ThereÔÇÖs some deals on there for auto-investing as well but havenÔÇÖt looked at them.
For US stocks, I wouldn’t use Sharesies especially if you want them in your own name as they are the only broker in NZ (that I know of) who don’t allow DRS.
I use both Sharesies and IBKR.
Would love to just use Sharesies but they don’t have all my Dimensional and Avantis ETF’s.
Tiger Brokers is pretty goo for US. It’s a good deal ATM.
Remember you use more than one and switch between one at a later date.
So if you want to start of with shares, and then move it to IBKR once you get big enough thats possible as well.
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