Saw this deal and remembered that I came across Open Trader which is cheaper if your trades are $2500 or less.
- UP TO $2,500 - $5.00
- $2,500 to $15,000 trade - $15.00
- over $15,000 trade - 0.10% of value
Open Trader $5 Per Trade (under $2500) ASX CHESS Sponsored
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How would it be gone compared to SW? A buy/sell round would both be $20 total
Well, if it’s only just above $2500, split ur sell order into 2 to save money (and u can try 2 different limit too). If it does go above $5k, then be grateful, pay that $15, as u already gain a lot from ur bagger
I've been using IG which is cheap if you trade fairly regularly. $8 commission if you’ve placed fewer than three trades in the last month, otherwise $5 (they actually charge you $4.99). The big negative with them is the $50 subscription fee if you make fewer than three share or CFD trades on your account(s) per quarter.
They’re no Chess though. Some ppl don’t want custodian system. IB charge the same I think, no need to make 3 trades in previous month for $5. Have inactivity fee too though
Finally , some real competition , I was using commsec , thinkmarket, Self wealth and now this , but no apps yet ? Thx op
We've been hearing the market feedback that an app is a big focus and this is top of the list for us internally at the moment - we hope to have this out very soon!
Just wondering how many of you have shares on multiple broker platforms (add to the mix the micro investment apps) and contemplating joining yet another. I no longer use the big banks platform for their ridiculous fees but do use them for their reports and charting.
Just noticed that
Bank Dishounour $110.00
The $110 dishonour fee relates to a Settlement Fail - if you do not settle a trade or supply holder information by the required time, fail fees will be charged to your account. More info on this can be found here: https://opentrader.com.au/assets/documents/legal/FSG.pdf
This would definitely be taking customers away from selfwealth right? All the serious investors with big bank roll still use commsec and SW was aimed at the retail investors with their cheaper brokerage. I had a look at the interface, and that gives me more stuff than SW does as well.
Selfwealth have mentioned that eventually competition will drive rates down to close to $0.
If we need live prices and market depth cost $99/month? Not too sure if other provider charge the same?
Just open a Commsec account for free live data.
Good idea and trade using this
Can anyone suggest a commodity broker please?
I use eToro
I am using CMC Markers (CFD)
eToro has CFD/foex/stocks/Crypto but you need to answer ASIC questions to active the account and be able to do your first deposit. This youtube helped me out with the answer: https://youtu.be/szbirC8zuXs
I have used OpenTrader for a couple of months now - nothing special in UI but it gets the job done.
I use it in combination with some of my other brokers, for certain trades I make.
We're always looking to engage with our users on how we can make the platform better and improve the UI - if you're interested, we'd love to hear from you on what your experience is and what areas you would like to see improved for the future.
Can you please elaborate on the $110 Bank Dishonour fee? When would it be charged?
The $110 dishonour fee relates to a Settlement Fail - if you do not settle a trade or supply holder information by the required time, fail fees will be charged to your account. More info on this can be found here: https://opentrader.com.au/assets/documents/legal/FSG.pdf
Great for those DCA into ETF's: I'll use this to fund my VDHG accumulation.
That makes two of us.
$2500 is way too limiting, especially for selling.
move it elsewhere then sell.
i signed up to the macquire cash account successfully but now how do i log in to invest? do i have to wait for snail mail to send me the log details:?
Same how long did it take you ? I'm still waiting
still waiting got mac ac number but maybe equifax issue
my macc opened and my account was "ready" by monday. i had already got money in the Macq account but it wasnt showing up
showed up todayand trading worked
Been using several months. Was a legacy customer from OpenMarkets Equix, which was the prior company/platform (and OM wholesale to SelfWealth). Pretty happy with it, even if not perfect.
Holdings page updates frequently (wouldn't exactly call it live but close) so isn't subject to 20 minute delay.
They're slowly making more improvements and changes - they embedded the TradingView screener into the platform recently, and finally after months of pestering them, was good to see they have allowed users to update average cost prices (i.e. to ensure proper costs are reflected for IPOs or SPP stock).
There's still a few gremlins (e.g. not mentioning a stocks's high/low for the day on the order pad page; market map UI is very poor) that frustrate but having been through CMC, SW and other platforms, it's a good balance with respect to the fees. Lack of options as far as alerts is one negative in my view. Obviously ASX only and no app (for now) either.
I had a quick play with the screener they offer. It is super detailed. Been using Yahoo finance for last few month but this thing blows it out of the water. 15min of playing around with filters and checkboxes gives me a short list of stocks I can start digging deeper.
Still waiting for my official signup to come through though so I can start buying… how long does it take from signup? been afew days.
OpenTrader reps, do you guys offer conditional orders? If so, do you plan to offer it in the near future?
I opened an account 3 days ago, still not approved.
same havent heard anything. how long does one need to wait before they can start trading?
I was approved within a week.
They replied that they were experiencing heavy application loads, there will be delays.
is there an inactivity fee?
applied for selfwealth ac a day after and already open but this one still waiting.
means this one is more popular….
Anyone else waiting weeks for their account to be approved?
yes only was opened today with 2 equity accounts and 2 Macquarie cash accounts under same log on so confusing. Are there any inactivity fees and how does one transfer chess ipo issued shares into account? is there move fees?
You can request a transfer but be aware of any fees with your previous broker.
My account opened today after 2 weeks of applying. The customer staff are quite good.
The delay was from Macq Bank in opening the account. Once that was done, my account opened within a day
Also I was told by the CSR that
1) They support OSKO payments
2) T+2 days settlement are supported
3) There are no inactivity fees of any typeI'm just playing around with their charting system and it looks fantastic!
I hope this helps others who might have these questions
beware i dont think this account support OSKO payments i know the bank does . i transferred $1 from my other macq savings account into the cash management account and it only appeared the next day. so check your balance before you trade. at least you earn some small rate of interest on deposits not like selfwealth.
Does it require minimum deposit to open?
Minimum trade to keep it open?
Dormancy fee ? No trade / didnt trade or dont want to continue using itNo to everything
Just an update
I spoke to them again just to clarify and this time I was told that T+2 settlements only apply when selling and not when buying
Also Macquarie bank do not support PayID for these accounts
Hope this helps
Looks like too many hiccups..
Maybe not to be bother until their system and product matures.how do i transfer my shares from SW to them?
any thoughts on increasing the threshold to $3000 for $2.5? and payID? Thanks
+1. Also above $5000 for $8 flat fee.
Finally got my account after ~2 weeks. Anyone knows if that Pro offer (2 months free trial) will be cancelled or renewed automatically? Can't see any setting to change that when I logged in.
Do you see dynamic pricing during the day and also trade match in pre auction?
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Just like commsec $20 for above $1000, fortune is gone !!