Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Internet Share Trading - DirectTrade Launched

Nigel Wynn, Managing Director of Direct Broking Ltd, announced today the launch of his firm's online Internet sharemarket trading service, DirectTrade. Over the last three months DirectTrade has been tested and used successfully by Direct Broking clients. DirectTrade is now available to new clients.

DirectTrade can be found at

The advantages of Internet trading include, lower cost, greater availability of information, reduced transaction time and a 24 hour order placement. DirectTrade allows clients to place buy and sell 24 hours a day, 7 days a week. The brokerage rate for clients using DirectTrade is 0.7%, or about 1/2 the rate of traditional brokers.

"This is an exciting development for a New Zealand owned and operated sharebroker," said Mr Wynn.

DirectTrade allows clients to place orders to buy and sell New Zealand and Australian shares either at market or at price limits determined by the client. Orders are confirmed by Direct Broking on receipt and the client can check the status of their orders at any time.

Mr Wynn said that the Portfolio Management feature of DirectTrade would appeal to many clients. Clients register their holdings and the portfolio is updated automatically for all sales and purchases made over the Internet using the DirectTrade service. The Portfolio Manager updates the portfolio every day and can be printed by the client as a permanent record.

Direct Broking expects Internet trading to grow to about 40% of its business. However Internet trading will not appeal to everyone. "Many people do not have access to an Internet capable PC, either at home or for trading purposes during working hours" said Nigel Wynn. "We are working to improve our existing telephone based service for non-Internet clients".

Direct Broking limited is a New Zealand owned and operated discount sharebroker with offices in Auckland and Wellington.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Robertson Speech: Budget Sees Wider Debt Target

"New Zealand is well positioned to face this instability and uncertainty, but we are not immune from its impacts. Growth rates are set to be lower than we have seen in recent years..." More>>


Commerce Commission: Spark Warned Of Broadband Price Rise

The warning follows an investigation into representations Spark made on its website and in emails in August and September 2018, notifying in-contract customers receiving its copper-based broadband service of its decision to increase the price by $5 a month. More>>

Law Commission: Resist Rushing To New “Deepfake” Law

Artificial intelligence techniques can create massive volumes of fake audio, images and video that is incredibly convincing and near-impossible to detect... While it is tempting to respond with new law, the study finds that the long list of current legislation covering the issues may be sufficient. More>>


'Contrary To US Interests': US Lockout Sees Android Ditch Huawei

Effective May 16, 2019, the Bureau of Industry and Security (BIS) amended the Export Administration Regulations (EAR) by adding Huawei Technologies Co., Ltd. (Huawei) to the Entity List. More>>