About Water Broking World
Water Broking World is a new water brokering firm. It’s a corny name, but it’s memorable and you know what we do! We have an online exchange on this website showing all open orders and you can submit orders through this website. In addition to the web platform, we can organise orders by post, email and fax. Feel free to call if you have any questions regarding the water market or water trading.
WBW is registered for the Victorian Water Register Portal and can lodge trades in NSW and South Australia. Your trades are looked after carefully and covered by our $5 million professional indemnity insurance.
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How Trading Works for Temporary Allocation Trades
We understand that irrigators don’t really care about the price of the water before fees and commission, you only care about the total cost. That’s why Water Broking World lists parcels as their total cost per ML, so there are no hidden fees.
If you are a seller, the price you set on the order is the price you are paid. If you are a buyer, the price you set on the order is the price you pay ex GST.
Water Broking World makes money from the difference between the bid and ask price. So this means the parcel you want to sell (or buy) is advertised on the Water Broking World platform at a a higher price than what you have asked to sell at (or lower price if you are buying).
Let’s take the case of a customer creating a sell order. Water Broking World multiplies the unit price they want by the volume, calculate the commission and authority fees, then sum the three together and that is what the parcel is advertised at. Since fees are different in different trading zones, the same parcel may be advertised at different prices in different trading zones.
Similarly, if a customer creates a buy order, we multiply the price they are willing to pay by the volume, subtract the commission and authority fees and that is what the parcel is advertised at.
The invoice to the the buyer has the commission of $85 plus 2.5 %, unlike most brokers who charge both sides. Since sellers don’t pay a commission, sellers can ask for less than they would through another broker and still be paid more.
For permanent trades, everything is by negotiation.
Once an order is accepted, orders cannot be deleted. We can delete open orders, but there is no guarantee that they can be taken off the market before they are accepted. Please contact us as soon as you want to delete an open order.
If you would like to change an open order, please email or fax the instructions from the email address or fax number on your Water Broking World account. There is no guarantee that the order can be changed before it is accepted. We can’t take verbal instructions to change orders.
Currently it’s a one man band run by its founder, Lionel Pengilley, so this site uses the royal we. That said, I have contacts with other brokers who bring liquidity to the market.
Lionel Pengilley BEc
Out of Business Brokers
There are many competitors who have gone out of business over the years. Here is the list of water brokers who have been deregistered with ASIC or their business name was cancelled or removed.
In case you’re searching for them, they might not be around to help you, but Water Broking World is here to help you!