Commsec: Get $600 in Free Brokerage - Only for New Commsec Trading Account & CDIA

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  jm48 on 30/09/2015 - 10:04

  Good deal.
  It's been running for several years I think.
  Others offer the same free introductory deal - Westpac, Nabtrade, Etrade(ANZ) for example.

  • 

    fvalemus on 30/09/2015 - 10:13

    Yes, indeed. Thanks for adding deals from other platforms. I like Commsec personally, NABtrade is my second option, I do most of my banking with NAB.

    • 

      jm48 on 30/09/2015 - 10:33

      Nabtrade usually have the free deal, but it is for international shares at the moment.
      It will probably be back.
      Also HSBC
      I have used them all for the free deal (I am so tight fisted)

      • 

        powerhead on 30/09/2015 - 10:38

        Can you see all your holdings including those purchased via previous platforms after you change brokers to take advantage of their free trade offers?

      • 

        nakedposition on 30/09/2015 - 12:43

        +1

        @powerhead: You would need to transfer your securities or HIN in order to see all your securities under the same account.

        N.B. Depending on the broker, you may lose your account if it has no HIN associated (you usually can do a transfer of securities without the HIN though) and also it's you're just transferring the assets, so things like order history, buy prices and such wouldn't go across unless (though some systems do attempt this).

      • 

        jm48 on 05/10/2015 - 15:10

        +1

        @powerhead: Sorry I only just saw your question.
        nakedposition is right.
        Its easy to transfer your newly acquired shares to your main broker.
        For instance I use Commsec and it just takes one form to transfer all shares from another broker (one HIN)

      • 

        powerhead on 05/10/2015 - 15:49

        @jm48:
        Cheers mate. Couldn't see any fees being mentioned on the form, are those transfers free at all?

      • 

        jm48 on 05/10/2015 - 16:50

        +1

        @powerhead:
        Definitely fee free.
        All the brokers would have the same standard form.
        If you were using this Commsec introductory free offer and wanted to transfer the Commsec shares to another preferred broker, you would use the other broker's form.

      • 

        28kb on 09/11/2015 - 13:46

        Is the international trade offer still available cant seem to see it anywhere

      • 

        jm48 on 09/11/2015 - 14:34

        @28kb: I think that offer expired on the 31 Oct.

• 

  [Deactivated] on 30/09/2015 - 10:33

  I still have shares in telstra and Commbank from 2011. Dunno when to cash out.

  • 

    saffers on 30/09/2015 - 11:03

    too late now… ;)

  • 

    WatchNerd on 30/09/2015 - 11:04

    Not now that's for sure. If you aren't desperate for the money then I wouldn't be selling them at all, the dividends from those two is pretty good.

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  shaybisc on 30/09/2015 - 11:01

  +2

  Up, down up, down, up, down, up, down, up. Is the stockmarket supposed to be in any way rational?

  • 

    kronicmacstigator on 30/09/2015 - 11:52

    +1

    Anyone else think that was the Konami code for a second? 'Congratulations, you have won on the ASX'

  • 

    DeafMutePretender on 30/09/2015 - 21:57

    Are people supposed to be in any way rational?

    Fix'd

    And to answer your question, if people were 100% rational, the stockmarket probably wouldn't even exist since everything would be perfectly efficient.

    Nobody wants to admit it but yes, how big a profit you make (whether you're a CEO, a big corporation or a mom/dad investor) depends on how good you are at taking advantage of other people's information/knowledge deficiencies.

• 

  juzz0 on 30/09/2015 - 11:10

  +3

  I signed up to this over five years ago (it was a fairly long process to get approved and registered - I think your account is lodged with one of their 'trading teams'). I traded for about two months. I wonder if I will ever be eligible for a similar promotion in the future because I want to trade again with them but brokerage is just too much everywhere so I have avoided trading since (I lost the couple grand I invested trading BHP calls and didn't make another deposit). I would trade on the markets if brokerage was reduced to something around $12 ($24 to get in and out) but $20+ ($40+) makes me lose way too much.

  Unless you are making significant profits consistently beating the markets brokerage costs mean you will lose big time if you want to trade in and out of positions as an individual trader (for example to buy into and close an option position it costs $70, $35 each way, and if you play around with a thousand or under in each position it is a substantial proportion of your investment). I realise the OP excludes those trades but still daily trades at the lowest preferred rate would still be $40 to go in and out of a position (meaning to break even after brokerage a $400 investment would have to go up 10%, then even greater to split a profit).

  In my case I was wanting to make a 5% profit on my options position before I would withdraw, in reality this meant the value of the options contracts had to increase by 15% in most cases to get a return (on $700-1000 positions). I lost so much money due to trading frequently it cut into my initial investment (trade in and out each day for seven trading days and if the markets don't go anywhere you lose half your money on a $1000 outlay, if they go up you may break even, down and you lose big time) and then after lessening my trading frequency (realising how much I was losing in brokerage) not wanting to solidify my losses (even though I had a stop loss strategy in place I was getting battered because most contracts were fair value and daily flucs only changed their value max +10/-10% on a slow reduction of price to maturity in 3/6 months time as expiry drew closer, the only way to secure that 5% was to time trades perfectly in a perfectly predictable market but markets were not running on a set schedule where they went -10 +10% and slowly declining so it was near impossible for me to do). I realised risking much more than $1k in each position would lessen the component of outlay that was brokerage but I didn't have that much cash to play around with and it was too greater risk if the markets tanked completely.

  I wished a system existed where you could get much cheaper brokerage (especially on options) but were required to enter into (or exit) positions five + positions per day. As it is the system is geared towards those either trading large amounts (so brokerage becomes a much lesser component) or adopting long time-frame 'sit and wait' strategies. Not those wanting to dip their toes in and out of the water trading relatively small amounts frequently.

  Now I literally gamble with my money because bookies have inbuilt mechanisms where instead of charging brokerage on fair value markets they take margin cuts out of what the fair value is. Example split even chance odds would be 2/2 but bookies would only offer 1.85-1.9/1.85-1.9 taking the margin. I would much rather FIs take 10%-15% of any profit made in trades as brokerage than charge a flat fee (which costs irregardless of whether I lose or make money on a position). Even though my downside risk is huge and I am betting my money on very uncertain outcomes, instead of supporting with equity many Australian companies on the ASX, it satiates a need to trade and take frequent positions inside of me.

  • 

    jm48 on 30/09/2015 - 12:54

    +1

    I would trade on the markets if brokerage was reduced to something around $12

    Interactive brokers charge $6 (minimum or 0.08% of trade value).
    But you need a minimum of USD 10,000 in your account.
    Mainly suited to frequent traders.
    Haven't used them myself.

    I personally believe an individual cannot make money trading in shares.

    • 

      Mad Max on 30/09/2015 - 21:35

      Do they let you settle on another bank's account or do you need to have a bank account with them and sufficient clear funds to settle before you can place the trade?

      • 

        jm48 on 30/09/2015 - 22:13

        You need an initial deposit of at least USD10,000 into your IB account.
        Long forum thread here http://www.aussiestockforums.com/forums/showthread.php?t=108…
        It is really for committed traders,
        also minimum USD10 activity per month or fee of USD10.

  • 

    ST on 30/09/2015 - 12:59

    +1

    isn't there a cheaper option to trade according to their Rates/Fees Table
    https://www.commsec.com.au/support/rates-and-fees.html

    CommSec Share Packs over the Internet4
    $66 per pack (One share pack of 6 shares - $11 per share5)

    I suppose the caveat is you have to purchase all 6 shares at once? Any experts?

    Also, this might be another option for you?

    http://www.cmcmarkets.com.au/en/stockbroking/low-brokerage-r…

    Sorry but I'm quite a novice with share/stocks/buying/selling so any experts feel free to correct me…

    • 

      juzz0 on 30/09/2015 - 13:40

      Thankyou both (jm48 and ST) I will look into it.

    • 

      nakedposition on 01/10/2015 - 14:32

      $66 per pack (One share pack of 6 shares - $11 per share)

      Commsec's website makes absolutely no sense. It could be a prepaid trade, where you can buy 6 trades for $66. But saying '6 shares' makes no sense (6 trades would).

      Unless they're really going to sell you 6 CBA shares for $66, well then there's a bargain (likely hood of this is 0, as there would need to be a prospectus tied to that item).

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  stevtom27 on 30/09/2015 - 18:37

  So only 10 trades applicable?. Cheapest trade for shares is 19.95 so if i only have 10 i wont get anywhere near $600 value

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  jm48 on 30/09/2015 - 20:50

  Fees are
  $19.95 (Up to $10,000)
  $29.95 (Between $10,000 and $25,000)
  0.12% (Over $25,000)

  It would be possible to do 10 $50,000 trades at $60 brokerage each.