Open a CommSec account and start trading now to receive $600 free brokerage*. The bottom line is, the sooner you trade, the more you’ll save.
Be sure to apply via the Join now links on this page and open your account before 31 October 2009 to take advantage of this offer.
What stuff don't you trust player? Do you mean CommSec, or the stock market in general?
I started trading on CommSec a few months ago and took advantage of the $600 free brokerage. In that time my investment has returned about 30%… obviously a lot more risk than a term deposit but the potential for return is a lot higher. The free brokerage is great deal and out of the brokers available online, I think they are the best.
Pardon my ignorance…so you join and get $600 to play with on the stock market?
What's the catch?
Brokerage, not investment…
sigh… your first $600 of trading fees is on the house. That's what it means.
it cost 20 bucks to buy and sell shares in each transaction. So theres 30 times you can buy/sell for free.
NAB have the same offer at the moment i think.
@11112007: :)
It generally costs a minimum 20 bucks in brokerage, per trade. Say you want to invest $100 of your own money in a company, then Comsec will probably charge you $20 in brokerage, on top of that.
If you invest say $40,000, you'll be paying a percentage of the trade, rather than a flat rate, so it'll cost more. (I think … you might want to double check where the percentage rate takes over from the flat rate)
There are a lot of limitations on when the brokerage will be waived:
*Offer available only to new customers of CommSec opening a CommSec Trading Account & Cash Management Account before October 31, 2009. Offer applies to brokerage for Internet Preferred trades only. To place an Internet Preferred trade, you must trade online, be CHESS-sponsored by CommSec and settle your trade through your CommSec Cash Account or CDIA. 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. Your first 12 equity trades will be free, up to a total brokerage value of $600 (including GST). 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. This offer does not apply to trades where CommSec’s brokerage exceeds $55 (including GST) or trades with a value over $50,000. No brokerage will be shown on the CommSec contract note issued in respect of free trades under this offer. All free trades must be completed by 31 December 2009 when this offer closes. This offer is not redeemable for cash and is not transferable. Normal CommSec terms and conditions apply unless otherwise specified here. For 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.
@11112007: Actually it's a maximum of 12 free trades - so unless you're investing a lot each trade the savings are probably going to be more like $240
Ok just like it says in the previous comment
@atreius: From http://www.comsec.com.au/Public_FrameSet.asp?Page=HMoreTradi…
Share trades Internet Preferred1 $19.95 up to $10,000 transaction value $29.95 (up to $25,000)
0.12% (above $25,000)
$50,000 trade -> $60 brokerage by those calculations. If one makes $50,000 trades, then the first 10 transactions will get fees waived. Over $50,000 and a trade's brokerage is not waived at all, per the terms and conditions …
To get the full $600 in brokerage waivers, you'd need to invest $500,000.00 in trades as specified above, meeting all terms and conditions.
Not that one has to get the full $600. Many people will benefit from any brokerage free trade.
Brokerage is normally a profit killer :P for small trades. People are normally pushed to trade $1000.00 or more, to reduce the effect brokerage has on a profit. (If you make a loss though … )
With free brokerage for new customers (provided your trades meets Comsec's criteria etc) it may mean some new customers can get away with opening trades of $20.00 :P
Note: Always pay close attention to all terms and conditions with offers
Especially in this case, when the 12 free trades expire … if they do
lol. im still new to this whole investing thing. sorry if my question is stupid :S
so what is brokerage? just trading of shares or something like that?
any suggestions on where to get good stock tips? as in companies moving forward?
Commsec ran a similar promo some months back in the Money magazine. I took it up and my experience was absolutely awful. Firstly, they did not set it up correctly, so I could not trade for a few days. Then my first few trades went through and I was charged brokerage. It only got reversed after several phone calls and a complaint to the Financial Industry Ombudsman. That took nearly 4 months to resolve.
Be warned that their customer service is pathetic. In fact, when I mentioned the 40 minute hold time, one of their Customer service supervisors told me "This is a discount broking service. If you want customer service, you are better off moving to another broker." And that has been the attitude of every one of the 10-15 reps I talked to resolve my problem.
Customer service is pathetic with most online bargain sites! One site rep told me to stay away from their sales if I did not like it, my whole issue was with their packaging! I could not believe what I was reading! But having said that ComSec should be better!
I have noticed a number of times, when they take on more customers, through a take-over or a promotion, the customer service on the phone desk is apalling.
This tends to get fixed up retrospectively, when they train and take on more staff … but still, it's not too impressive when it happens.
These days I don't tend to need their phone desk, if rarely (using the internet, not needing to call in for info on shares most of the time) so I haven't had many problems …
Seen an TV- Ad where you have only a $15 fee for buying and selling shares… but unfortunately can't remember the name. :-/
May be Bell online! Could be wrong!
i dont trust that stuff