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Reduce Brokerage Fees
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Hi team, Love the platform, but I think it's time to review your brokerage rates as they are nowhere near competitive anymore. According to Finder.com.au, Pearler now sits in 19th position out of the 36 listed brokers at a standard cost of $6.50 per trade. Even at the 15% reduced pre-paid rate, Pearler still sits in 18th position. With 133,583 members, may I ask whether it's possible to review your fees and reward your members for their loyalty? Thanks! Source: https://www.finder.com.au/cheap-stock-brokerage-in-australia
Dan C
6 June 2024
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DAVID
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Investor
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Mon, 23rd December 2024
There are CHESS sponsored brokers who are getting very creative with providing minimum brokerage of $0, $2 and $3. I have been with Pearler since the days when ETFs from 3 providers were FREE. I really miss those days. I think Pearler needs to address this issue soon, especially for those investors who prefer to DCA with smaller amounts eg. $500 - $1500. If Pearler had a special low rate for people who invested regularly eg. monthly in the same ETF or ETFs, it would then be more cost efficient to invest smaller amounts. It would make AutoInvest more appealing. The Pearl Rewards and Prepay are valued, but small compensation. Either way the current rates are not as competitive as they once were. I believe even Comsec has a $5 commission nowadays.
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Jas B
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Investor
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Thu, 13th June 2024
Pearler is Chess and I would personally use an Australian broker over the others. Moomoo, Tiger and WeBull I wouldn’t touch. Maybe Pearler might do an EOFY pre-paid brokerage special.
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