Case study review IG Markets as alternative to SPP Harvester -...

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    Case study review IG Markets as alternative to SPP Harvester - OPY SPP

    OPY booklet issued & opened SPP 9th Apr.
    SPP closing date 4th May
    Email received IG 15th Apr, 4 trading days later.
    Deadline to apply 12pm 3rd May, day before closing date.
    Applied OPY SPP 15:45 15th Apr.
    Received confirmation of application by email 11:30 16th Apr, next day.
    First day of trading SPP shares 10.00 am 14th May.
    Shares received in account 12:24 14th May, same day as CHESS holders.

    So to summarise
    IG is a vastly cheaper with no mngt or performance fees.
    IG brokerage fees on $30K sale IG 0.05% or $15, SPP Harvester $30 + 0.4% +GST or $165.
    IG allow you to apply right up to the day before close date vs approx 6 days before SPP Harvester.
    IG allow you to sell your shares when you like from the first day of trading (assuming efficient registrar) vs at least a 1 day delay with SPP Harvester plus sufficient volume in the market to trigger algorithm.
    Setup cost IG excluding cost of shares approx $3,000, SPP Harvester $3,300 inc application fee.
    Cost to exit IG $1,500 ($5 per holding), SPP Harvester $4,500 ($15 per holding).

    So in conclusion if you are happy to setup this investment vehicle yourself IG Markets is a far superior option in financial returns & the service is better.

    Note this is a sample of 1 SPP & IG Markets could change their T&Cs at any time which may make continuing to use their service not possible in the future.
 
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