$600 Free Brokerage CommSec Is Back!

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CommSec

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  drexxx on 08/03/2010 - 12:25

  damn this is good.

  this is what got me into it the first time…

  i wonder if i can get it again somehow…

• 

  bargainbro on 08/03/2010 - 13:01

  +9

  Most people will never get the full $600 in brokerage. The fine print says the $600 is limited to 12 equity trades.

  The only way to use up the full $600 of brokerage is to make 12 trades each of at least $41,667 but not exceeding $50,000.

  If you're not a big trader and only making trades less than $10,000 each time, you'll save around $240 in brokerage only.

  • 

    Trance N Dance on 09/03/2010 - 08:05

    still better than nothing

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  Vidgamer on 08/03/2010 - 13:25

  For an amateur is this a good deal? DO you open an account and it has $600 in free credit in it or do you link it to your bank account? Im not sure how it all works, so im curious..

  • 

    Sobai on 08/03/2010 - 16:15

    +1

    No - they charge like 19.95 brokerage or something like that per trade normally, the $600 offsets that fee as you go - subject to conditions. Good if you are starting on building a portfolio and about to make a bunch of trades.

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  FloatingPoint on 08/03/2010 - 14:06

  +2

  All free trades must be completed by 30 June, 2010

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  mobius on 08/03/2010 - 16:51

  My tip is you need a min 20k otherwise it's not worth you time and money (fees/taxes). Unless you leave it in there long term.

• 

  bugmenot11 on 09/03/2010 - 00:44

  -5

  YAY free money again !! Last time they did this I signed up then withdrew the moneys and I bought an xbox360 plus 3 games with the money !! oh and I took the gf out to dinner aswell !!

  what will I do with the free moneys this time . lol !! .. beat that Stix !!

  • 

    mobius on 09/03/2010 - 08:42

    BS

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  dragonrabit on 09/03/2010 - 01:13

  guys, is you are day trader, using momentum strategy, play with penny stock that has jump on they average daily volume. you still can make money. i hope they can give me that unlimited transaction like before for 12 months. i love it.
  you can buy and sell at the same price without worry lose brokerage fee.
  1 cent increase i still can make money, or even 0.1 cent.

  and you don't need $20k. i only play $500-1000 only

  with $500 and you play with 1 cent stock, you will get 50,000 stock (if you are not paying any brokerage). 0.001 increase, you make or loose $50.
  and again you need have a strategy to play with this penny stock. not recommended for everyone!!!!!

  i just want to show you that you still can make money if you have trading plan and strategy.

  • 

    drexxx on 09/03/2010 - 10:01

    yeah thats what i'd be doing.

    although someone mentioned about that: The fine print says the $600 is limited to 12 equity trades.

• 

  Krazyy on 09/03/2010 - 08:03

  i really dont think you can actually 'withdraw' the money ???

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  stralya on 09/03/2010 - 11:31

  +1

  You can't really 'withdraw' the $600. If you want a 'sign-on' bonus, the best one I have seen recently is a Bell Direct offer for NRMA members that gives you $200 upfront that you can withdraw after you make 1 trade. However, brokerage fees do apply. http://www.more4members.com.au/offer/Bell-Direct.html

  The Comsec offer is good in allowing you to experiment with trading strategies. You can cut your losses without worrying about the brokerage.

  However, my personal experience with this promo when they ran it last year was extemely bad. My trades kept getting charged brokerage, and the customer service was pathetic. FInally, I had to take it to the Financial Industry Ombudsman to get a refund.

• 

  Trance N Dance on 09/03/2010 - 18:01

  Man I wish I was 18

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  NeoWilson on 09/03/2010 - 22:37

  so this is a great deal for new traders ? i'm gonna go over the fine print tomorrow ^^