20FREE60
I opened a new NAB Direct account and was amazed at the high brokerage charges — 14.95 inclusive of GST for trades under 10,000. This effectively means unless you trade 1,000 or more in a single transaction you're paying very high brokerage fess.
Later on, I realized that there is a code that I could have used. I did speak to the bank and they agreed to let me use this code for future trades. Full details below, this is good value and maybe good for all those small time investors wanting to invest less money
Open a nabtrade account before 31 August 2013 and you'll get 20 free online trades (valid for 60 days)¥.
nabtrade provides:
Low brokerage, trade online from $14.95 (conditions apply)*
More ASX research recommendations than any other online broker
The ability to seize opportunities with new tools tailored for the Australian market
One of the most competitive cash rates amongst online brokers with our High Interest Account^
Join Now
Enter the promotional code 20FREE60 to redeem this offer when completing your application
*Equity and warrant trades under $10,000 are $14.95 (incl GST) per online trade. For trades over $10,000, brokerage is $29.95 (incl GST) per online trade (up to $27,227). Over this amount, brokerage of 0.11% of trade value^ per online trade applies. For more details on fees and charges refer to the nabtrade Financial Services Guide
^Issued by National Australia Bank Limited ABN 12 004 044 937 AFSL 230686. The High Interest Account is an online variable rate savings account and can be opened once you have a Trading Account and a linked Cash Account. Information on rates is current as at 12th August 2013.
¥Important information about the offer:
¥To be eligible for this offer you need to open a new nabtrade account before 5pm AEDST on 31/08/13. For the avoidance of doubt a new nabtrade account means an account opened by a legal entity which does not already have an existing nabtrade account. Accounts opened for Deceased Estates are not eligible for this offer. You will be prompted to read, understand and agree to the nabtrade Financial Services Guide and nabtrade Client Agreement when opening your account. Our standard fees and charges and account opening requirements will apply. 20FREE60 will need to be populated into the promotion code field on the last page of the nabtrade application form to redeem this offer. We reserve the right to change these terms at any time without notice. 20 free trades will expire 60 days from the date the account is opened. This offer is not to be used in conjunction with any other brokerage or free trade offers. This offer is inclusive of GST.
edit: as a bonus, you get a silver account valid for 3 months as join-up promotion (believe that entails 20 sms alerts + real time display)
If you do 2 trades within a month, you get upgraded to Gold. So potentially you can get Gold for 2 months and silver for 1 month using this offer for no brokerage
It looks like a genuine offer of 20 free trades!
This is a change from the false claims from primarily Commsec of x trades, when it's actually a dollar cap with all sorts of limits that make it almost practically impossible to get that number free.