If you currently bank with St.George, BankSA or Bank of Melbourne and looking to invest, then you may want to consider a directshares share trading account.
The Bank of Melbourne directshares online share trading account allows you to control your own share trading activities and make decisions about the growth of your investment portfolio and your wealth creation strategies.
Whether you’re a newbie or an experienced trader, the Bank of Melbourne offers a low-cost share trading service that could be the ideal way to enhance your trading activities. The online broking platform is suitable for those customers who want to take more control over their wealth creation strategies and be more proactive about managing their own investments.
Directshares online broking allows account holders to buy, trade and sell shares, warrants, options, ETFs (exchange traded funds) or even managed funds via its trading platform.
Things to consider about the Bank of Melbourne directshares online share trading account
Directshares are most suitable for those who;
Want to manage directly their account and their investments
Want to learn how to trade using the free and detailed guides available in the Macquarie Education Centre
Do not want account keeping fees
Can take advantage of the $500 free brokerage by opening an account by 31 December 2013
Have a bank account with St. George Bank, BankSA or Bank of Melbourne, that can be used to settle their trades
Features of the Bank of Melbourne directshares online share trading account
The Bank of Melbourne directShares online broking account has the following features;
Trading tools available. The Bank of Melbourne directshares online broking account gives customers full access to a wide range of trading tools and information. If you are newbie, you can access a range of independent investment tips from independent research companies such as Morningstar, FatProphets and the Intelligent Investor or financial news from the ASX, Finance News Networks and Dow Jones International News.
You can also check a list of the most traded stocks among directshares clients, or access the Education Centre with its trading guides and daily and weekly analyses. If you are an experienced or professional trader, you can invest via the easy-to-use directshares Power platform, or check the sector analysis and stock valuation tools. You can also use the same tools as newbies and you can even receive a free summary report on your account’s income and realised CGT for tax purposes.
The trading platform. The online trading platform is user-friendly and intuitive: you can control your funds and your account, and see which investments are profitable.
Range of investments. If you open a directshares online broking account, you can invest in shares, options, ETFs, IPOs, SMSFs and warrants.
Competitve trading fees. One of the biggest costs of share trading is the trading fee, but the Bank of Melbourne directshares account allows you to trade for as little as $19.95 per trade. This low trading fee applies to a first trade of up to a value of $5,000, and subsequent trades of up to a value of $18,000 throughout any given month. Trades totalling higher values for the first trade per calendar month may attract slightly higher brokerage fees (please see table below).
Trade Value for 1st Trade of the Month
Brokerage Fee
Up to $5,000
$19.95
$5,001 - $10,000
$24.95
$10,001 - $28,000
$29.95
Over $28,000
0.11% of the trade value amount
However, as long as your first trade of the month is kept below a total value of $5,000, you could benefit from discounted brokerage fees on all subsequent trades for that month (please see table below).
Trade Value for 2nd and Subsequent Trades
Brokerage Fee
Up to $18,000
$19.95
More than $18,000
0.11% of the trade value
If a customer places a buy order for $4,500 as the first trading transaction for the month, the trading fee will be $19.95. After this point, if the same customer places a sell order for $6,900, as this is the second trade for that same calendar month, the brokerage fee will also be $19.95 for that trade.
How to apply for a Bank of Melbourne directshares online share trading account
To open your directshares trading account you need to follow these steps:
Open an eligible deposit account with the Bank of Melbourne
Complete your identification for your new deposit account.
Open your directshares trading account online.
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