expired Open a CommSec Account and Get $200
This was posted 5 months 21 days ago, and might be an out-dated deal
Hi guys, first post on OzBargain so please help me out if I'm leaving out details.
Steps:
- Click link > fill out application
- Make one trade above $500
- Money comes in 15 Feb 2013.
I think that's it.
Comments (Closed)
+1 voteSimilar to the other comments, I advise extreme caution unless you're prepared to lose some money in order to understand how things work. Either way, first paper trade and figure out how it works conceptually, then carefully consider all the scenarios where you could lose money before going ahead with trading.
Most brokers provide demo account which will give you good insight on the user interface and the features built into the platform. A demo account will help you familiarise yourself with the platfrom provided by the broker. However, you still need to do your reasearch and develop a strategy before you put money on there.
+3 votesyou could also try the ASX Sharemarket game:
http://www.asx.com.au/resources/sharemarket-games.htm
It's a fun way to see how much money you will lose.
I remember playing that in high school for commerce. Really wish I payed more attention to stock back then.
I could of made a killing on $AAPL when they were at low-$300's. What did they close at today mid-$500's?
I remember around when the iPad mini was announced it peaked at $700.
tomleonhart on 05/12/2012 - 16:51 ¶ahan,
do yourself a favor, do not trade shares. You'll better off with foreign bank fix term deposit than buying share in the current market condition.
- +7 votestomleonhart on 05/12/2012 - 18:14 ¶
a genuine advice and get 3 vote down,
All big 4 are at 5 years high, world economic is crumbling. Fiscal cliff is approaching, Europe is in recession, Australian unemployment rate is rising, interest rate at emergency level, companies's profit are dropping left right centre. but blah blah blah cover your ears, everything is going to be fine. Buy now at the discount price and gain later.
tell that to BSL/QAN/FMG/ARI etc investor… anyway I'm just trying to help the bloke. 
ScottLetts on 05/12/2012 - 18:52 ¶Agreed. You'd have to be very confident buying in at the moment.
Keep in mind shares do not keep going up - it's not like the 90's - 00's where the market trended generally reliably upwards. Very uncertain times, buy in and you could be a winner, or a very broke person.
IMO the best way to start trading is building up a fictitious portfolio, let it run for 6 months and see if your tips land you in the green or red. (Believe me, if you are playing the speccie game it's extremely easy to have the majority of your portfolio seeing red).
- +1 voteScottLetts on 05/12/2012 - 19:01 ¶
Just some food for thought:
BHP this time last year was $45. Currently at $35. 22% loss. If you invested $10 000 you'd be down $2 200 (current trend is down too).
Similar for RIO. NAB you'd be breaking even. Westpac you'd make okay gains as with ANZ.
Always DYOR - the stock market is much of a gamble to small players. At the end of the day it's your money. Heck, you might have chosen a great time invest and kill it.
- +2 votestomleonhart on 05/12/2012 - 19:40 ¶
Hintswen,
For 1 lottery winner there's millions of those who lose. But of course we only hear the winning story.
ahan, i say again. Unless you have money to spare or don't need, do not invest in the share market.
- ScottLetts on 05/12/2012 - 19:59 ¶
Great =) You've obviously done a significant amount of research and it has paid dividends for you. For the majority, especially those just opening an account for this deal, they will not have put in the research / have insider knowledge / use patterns (candlestick or otherwise) to guide them fully.
It's easy to hit beginners luck. It's also easy to watch your shares rise, and rise, and rise… then in the same breathe fall past your initial buy in price. Stop limits need to be put in place and adhered to.
You've done well on BHP - again the insider/research that you have works. For the majority the past trend has been downwards (peaking May '11). It's always dangerous to catch a falling sword/knife - although at the bottom is when the greatest gains are made.
Too much to detail on OzB - DYOR. I am all for trading (I do it), just as long as people are aware of the positives and the real negatives associated with it =)
+1 voteMuch appreciate your advice. Given that I still have a mortgage need to be paid off, I will not invest extensively anyway. However, I do believe I should at least know how to trade. Coming from a commerce background, I do feel embarrassed that I know nothing about shares.
Income stocks are the go right now. I had all my portfolio in infrastructure and other good income stocks. No matter what, people will always have to use electricity.
I hated to sell them but they'd done so well I felt I had to.
This is a good offer anyway. I opened a Commsec account today and bought $550 worth of shares in GUD Holdings (the people behind Sunbeam appliances). Good little income stock to have, particularly when interest rates are pretty turgid.
+3 voteslonewolf_860 on 05/12/2012 - 14:29 ¶I've tried on the big 4 atm and i've avoided the fees.
They do international shares too:-
+2 votesKing Tightarse on 05/12/2012 - 14:36 ¶So.. we could just trade some dead safe blue-chip shares, then sell them again shortly after for a free $200 - 2 x $19.95 trade fees = $160.10.
That right?
+4 votesleetguy101 on 05/12/2012 - 15:24 ¶No. No no no.
http://www.investopedia.com/terms/e/efficientmarkethypothesi...
Look for the ex-div date, the actual div payout date shouldn't really affect the price.
+2 votes"executing an eligible trade before 31 January 2013 when the offer closes. An eligible trade is a BUY or SELL trade that exceeds $500 in value. $200 will be deposited into your CommSec CDIA account on 15 February 2013. " so what are some good safe shares that allow a $500 parcel that you can recommend to buy?
- ScottLetts on 05/12/2012 - 19:04 ¶
No such thing as a dead set certain share. Although any of the majors will have relatively small fluctuations (0-3%) if you are planning on day trading. Be aware of the T+3 so you don't get caught out!
+2 votesIf you don't like the wobbles of the stock market you can get some fixed interest notes.
AQNHA will pay 8%
Here're some more…
http://www.asx.com.au/asx/markets/interestRateSecurityPrices...
+5 votesthe player on 05/12/2012 - 14:48 ¶T&C:
"The Promoter reserves the right to disqualify any entrant who manipulates their transfers for the purposes of this Promotion"doesnt this give them every right to disqualify all the entrants?
everyone needs to make a transfer into the account before starting to trade, and probably, solely for the purpose($200) of this promotion, right??- +1 votethe player on 05/12/2012 - 20:06 ¶
i think beatlebob said it all. this is like the royal flush of t&c, whatever u do, they get the final say
- the player on 05/12/2012 - 15:18 ¶
i have similar experience as well, often banks refuse to give out promotion bonus if they dont see u regularly using the related account. *even if u have satisfied all the T&C
Unless they specifically say that they have a discretion to exclude you, they can't do that if you've complied with all of their listed T&Cs. if you believe you have fulfilled with all the requirements and haven't been paid - make a complaint to the Financial Ombudsman.. the Bank will pay up.
please help me out if I'm leaving out details.
*$200 Cash back offer available only to new customers opening a new CommSec Cash Management Account and CommSec Trading account via the Join Now link on this page only and executing an eligible trade before 31 January 2013 when the offer closes. An eligible trade is a BUY or SELL trade that exceeds $500 in value. $200 will be deposited into your CommSec CDIA account on 15 February 2013. Offer is not valid in conjunction with any other Cash Management Account offer and not open to existing CommSec Cash Management Accounts. This offer does not apply to CommSec Share Packs, International trades, Exchange Traded Options, Margin Lending, Day Short Selling, Term Short Selling OTC CFDs and ASX CFD's. Only one account per customer is eligible for the offer. The Promoter reserves the right to disqualify any entrant who manipulates their transfers for the purposes of this Promotion. Offer is not valid in conjunction with any other offer and not open to existing CommSec clients, or to staff, institutional or intermediary clients of CommSec. See commsec.com.au for conditions for General Tax Information and CommSec brokerage charges see commsec.com.au. Applicants must be 18 years or over. We reserve the right to terminate this offer or amend these terms and conditions at any time without notice.
if you are serious about actually doing some trades it will only take 20 trades for the extra trading costs to burn thru the 200 bucks they give you. so its only good for those who want to take the 200 bucks and run, but to do this u must buy the shares and sell (to make sure u dont lose out on any share price fall), leaving you with $160 left after all your effort.
YOTR on 05/12/2012 - 17:39 Comment score below threshold (-5).
+3 votesT&C:
"The Promoter reserves the right to disqualify any entrant who manipulates their transfers for the purposes of this Promotion"I have a strong feeling that you need to keep it in until 15 Feb 2013 to the end of the promotion..
Opened one with my netbank account. Haven't played shares for a while, played around with the ASX competition with fake money and made a heap of a profit. Lets see how this goes..
You lose the brokerage of the trade each way
The only way you can potentially make money from this is through HFT (high frequency trading), where you trade on the most infinitesimal fluctuations. These trades usually occur in the millions or tens of millions of dollars each, and are performed by machines.
EDIT: Oh I see what you're talking about, sacrifice brokerage for the $200….
I had the same problem, took me a bit to figure out the problem — if you read the instructions more carefully, it says you have to provide details of three documents, not just two as I had assumed.
Confusingly the error message just says you've failed the ID check, not "You entered details of only two documents, not three which are required to pass the ID check".
+1 votednnnnnnnnng on 05/12/2012 - 20:32 ¶'use an existing account to verify your identity' seems to be broken here, doesn't work in any browser - fill in the details but the 'continue' button stays greyed-out even when you tick all the acknowledgement boxes
This is happening to me as well. I really want to get in on this but it's just bummed out.
I might give them a call and see what's up if necessary, this deal is too good to pass up.
EDIT: I clicked the other link, and now the verify my netbank link has gone away at the top, however it's asking for details now…
Odd.
Edit again: still not working :(
+1 voteFinancial planner here. Investing in shares can be a good way to try and get your money growing fast.
Just remember to diversify (not put all your eggs in one basket). Remember shares are a long term investment vehicle and only suited to those with long investment timeframes (5yrs +). This ensures you have sufficient time to wait out the ups and downs in the market cycles. Re-invest your dividends to maximise your growth rate.
I opened up an account two years ago under a similar promotion with Comsec (200 free brokerage). I invested a fair bit in the market over a three month period and ended up losing most of it on purchasing BHP short term calls which ended up worthless by the end of the month. What is the eligibility criteria for this promotion. Can people who have been out of the game for an extended period still apply?
+1 voteIs this legit? If you follow OP's link it is a "Http" page not "https" like all commsec pages. There is no link on www.commsec.com.au at all for this promotion. I follow OPs link and it wants you to enter medicare, drivers license and birth certificate details. Just be careful is all I'm saying till this is verified as real and not an ID scam?
+1 voteWhat are their fees apart from the 19.90 for every buy / sell are there any holding fees ?
So If I open the account and buy some shares to hold them for a year apart from the 19.90 to buy now and the 19.90 to sell later what other fees will I be charged?Are there any holding / other account keeping / fees ?
+2 voteschand_shah121 on 06/12/2012 - 14:07 ¶Using NetBank, I noticed the CDIA account statement delivered by post costs $1. I changed it to email and now it's free.
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Stix on 05/12/2012 - 16:54
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gotbean on 05/12/2012 - 14:47
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tomleonhart on 05/12/2012 - 18:14
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Steptoe on 05/12/2012 - 16:10
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vjknight on 05/12/2012 - 14:25
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I am very new to investing in shares but would love to start doing it. Does it have a monthly account keeping fee? Fee is $20 for every buy and sell? I would assume all fees are tax deductible.