I wish i found this sooner, I joint nabtrade 3 days ago and was able to use previous code 20FREE90 to get 20 free trades within 90 days and i did try the code 1000FREE60 which allows you to have $1000 worth free brokerage for first 60 days.
Isnt it always 3 months free?
i have only seen 20 free trades most of the time, so 3 months with no number of trades limitation is quite a deal for someone who is actively trading
Is there a minimum value buy of shares per trade?
to be honest i'm very new to this too, someone else may shed more light for us both.
I'm 99% sure its $500 and that it is an ASX limit rather than a bank limit. Well that's what it is with CommSec and I'm 99% sure I looked it up a while ago that was the case. I just wish you could do like $50 amounts. Much easier to just chuck $50 in each week than save for 10 weeks and do a $500 trade you know. It's also easier to diversify. Thanks anyway
Pretty sure theres no limit. Usually brokerage makes it not worth doing if you arent trading multiples of brokerage as a bare minimum.
Try Acorns maybe? You have market exposure via ETF's for a small fee pa
That's what index funds are for. Constant small investments without worrying about marketable parcels, spreads or transaction costs.
Yep. $500 minimum (without brokerage) to buy but no minimum to sell if you're selling your entire holding in a stock (doesn't matter if they're only worth $20…although brokerage would kill that). Limits set by the ASX not the trading platforms.
Hi tazzabros11,
late reply (just came upon this thread): I can't say it's ironclad but I am 99% certain that once you've bought that initial $500 parcel, you can then buy any dollar amount for any subsequent follow-up purchases. I remember doing this a lot during the lithium boom of 2014/2015(?).
Am I able to have 2 trading accounts? Eg I'm using commsec and I open NABtrade too
Yes you can
Each account will have its own HIN.
Further to this, can you just do sell trades as part of this deal? ie. Take shares in comsec and sell out via nabtrade at no cost?
Yeah absolutely you can, but it's a hassle depending on how many different companies you have shares in.
To do this, you have to complete a "broker to broker transfer form" from the broker currently holding the shares (eg CommSec). You will (likely) need to ring Nabtrade to find out some of the details you need to complete the form. It will take about a week and you will receive a flood of mail about it as if you just bought the shares for the first time.
You also have to have exactly matching details in the two accounts (name and address), or else it will take longer.
I've done it a few times, but to be honest it's probably not worth the effort unless you're selling a fair number of stocks, or the value of your holdings is fairly low.
Thanks for that. I gave it a shot. Yes, there was a delay and commsec called to try and offer me their intro offer not to go (which was not as good as I recall). Form was not too onerous to transfer HIN. Overall, happy I did it.
Do they let you place a buy order using your portfolio as security if you have no funds in your account and plan to transfer the funds in after the trade has been executed (t+2 settlement)?
when you setup an account it will automatically open a bank account which gives you a account number. you have to transfer funds in that account to do make a buy order
No. Commsec do, but you need to have the funds in place already for Nabtrade.
So if you want to take advantage of an unexpected price drop good buy opportunity you need to keep a large amount of money permanently available in a probably low interest account.
Correct.
seems like nabtrade provide quite a decent high interest account, i think it is around 2.1% which is not too bad
Zero sum game guys, be careful.
Lol, no idea.
Hey tessel, Looks like trading in Amazon gift cards is your preference.
Speculative trading yes, but long term investing isn't as (high quality) businesses have time to create more value.
what if i am with another broker, how can i transfer my profile to this one?
there are options on the website to help you do it
Op where do we need to enter 1000FREE60 code?
Is tgat after creating account ?
i think it was on the page where we input all personal details then there was a field for campaign code…
Nabtrade brokerage is $14.95 . It's cheaper than the other big 3 banks platforms which are something between 19.90-29.90
When I signed up I had 20 free trades, that helped me a lot. Since I was building my long term portfolio 3 months free would have helped me even better . I hope people can take advantage of this deal.
Is there an app? What's it like? Hard to get close to commsec I imagine
There is an app. Haven't used it (had a Nabtrade account but moved to Westpac before the app arrived), but the reviews on Google Play are woeful.
Yeah they do have an app and it is woeful. It's as if they made the app 10 years ago and haven't updated it since.
What's the maximum trade size to be eligible for free brokerage? I tried to read the ^ 'fine print' but there was nothing stated :(.
This would be a really good deal to build a passive investing portfolio.
Minimum order parcel is $500.
Trades over 20,000 is 0.11% of trade value. So you could do a single trade of around $900,000 to use the whole $1000 free brokerage in one go.
The minimum as said above is $500
There is no maximum really, just your first $1000 of brokerage will be waived within 3 months
Where is this $1000 limit mentioned?
Wouldn't that be for "1000FREE60"?
Not too sure to be honest was just going off the OP. Can't see it mentioned at a quick glance. If there was no maximum limit it I'm sure people would exploit it, so I'm pretty sure a max limit will be somewhere in the pdf's T&C's
Does the free brokerage include international markets? (e.g. NASDAQ / NYSE)
Couldn't see anything about being ASX only in the fine print.
"Join nabtrade before 30th November 2016 using promo code 3MFREE and enjoy free brokerage for 3 months^. Foreign exchange charges still apply to international trades."
Thanks, but FOREX charges =/= brokerage costs.
NAB Foreign exchange conversion spread is 0.5% - 0.8% (taken from https://www.nabtrade.com.au/pricing/)
Brokerage on international shares is $15 for under 5k, $20 for 5k - 20k etc.
This second fee is what I'm asking about.
A bit off tangent - but does anyone know if NABTrade offers tax reporting for dividends / capital gains or is this easy to work out myself?
You've got a few different options. Nabtrade will have account statements, and they may do EOFY tax report statments? Can't remember now, as it's been a while since I used them.
I don't think they send you specific dividend statements though. Usually the share registry will do this, and it will contain all the information you need for tax time.
My suggestion is you either set up a spreadsheet to keep track of them (buy/sell and dividends), or you could look at an online service called Sharesight which does that for you.
Let me know if you would like more info/examples.
Seems to have a bad reputation from online reviews. Maybe they changed things up recently?
This is a fantastic deal - thanks!
I just sold my property and now looking to rent / invest the proceeds in shares in a portfolio of individual securities - so this will save me a mint.
Also - international brokerage rates seem quite reasonable - I haven't been through the fine print - but has anyone used them to trade on international markets? Does it seem to be good value for money? I'm currently with optionsxpress - which is good for US shares - but can take a while to wire money across and each time you get slugged a fee.
nabtrade is a good trading platorm, so 3 months of free brokerage is quite the deal.