I finally decided to make a brokerage account and checked some old promo codes. Fortunately this one worked, not sure when it expires though.
$1,000 free brokerage, valid for 90 days, across domestic and international shares, mFunds, ETFs and Warrants. FX rates for international trades still apply.
Hmmmmmm. This is worrying. On what grounds do you make this claim?
He pretty clearly said “IIRC”. Are you questioning it? Any grounds for your claim?
Hey just trying to assist - I thought it was only in academic papers one had to cite references/footnotes for any definitive statements?
FWIW I believe this was listed in one of the previous deals on OzB by NAB Trade. Happy to say I could be completely wrong but full disclosure, I'm just flagging as many will use all the free brokerage then get stuck when they go to sell with NAB's higher than market price brokerage costs.
SO because I want to be accurate - as what I read before might have just been nonsense - I briskly read over NAB Trade's 66 page T&C's
Can't see anything saying they WON'T transfer, which is GOOD - did seem borderline illegal so maybe check before you sign up but seems ok. :-)
Thanks for the further info. Your opening sentence suggests you've taken my post the wrong way. I was only seeking further information on why you thought this might be so - certainly not attacking you for the statement, not in the slightest. Again, thanks for the follow-up.
not true, I had a nab trade account and transferred it all to commsec when the offer was over.
Did it cost you anything to do this?
nope just fill in a form :)
@bettina44: Cool thanks, I've been looking into transferring to commsec as they apparently have better reports for doing tax returns.
I assume the transferring does not include international shares?
Untrue unless they've changed in the last year. I've transferred from Commsec to Nabtrade to SelfWealth with no problems.
Just had to fill in a 'broker to broker' transfer form.
Pre-trade war period! dont make ur first trade so quickly! or DYOR before u buy! hotcopper is ur friend!
WUT?
US vs China
I'd be buying now. Hotcopper is never your friend.
I loved hotcopper back in the pre-tech wreck days. Then the market went sour and all the "experts" on hotcopper were missing in action. Lots of snake oil, lots of pump and dump.
Hotcopper is never my friend, its my BEST friend.
It all comes to individual stock, there are some stocks that went up. No one here understands stocks, so go to hotcopper as you said. But in HC, you need to know what you're talking about, otherwise you'll look like fool and other posters there will abuse you. And yes its normal to be abused there, its the big league ma man.
Makes the Westpac $50 free brokerage, ASX purchases only, look rather pathetic.
When I first signed up Westpac was something like $600 free brokerage, capped at $50 per trade
westpac gives you up to $50 off every trade (ie. unlimited) you make in the first 30 days. if you trade enough, you could easily get over $1000 worth of free trades.
Up to $50 free brokerage on each trade in the first month*
*You will not be charged the first $50 (inc. GST) of brokerage on each contract note trade settled within 30 days of account opening
This freebie brokerage means nothing if you can make $250-$1000 a day daytrading. But then everyone's different.
@blaccdong: i don't think that anyone who daytrades would say no to free brokerage for a month.
a person who makes $5k-$20k/month could easily spend $5k+/month on brokerage at westpac's rates (that's only 5 trades per day). people who make $5k-$20k/month aren't rich enough to think that $5k "means nothing".
(westpac might not be suitable for some/most types of daytraders, but that's different story)
Westpac also reserves the right to cancel the free bro in their discretion on one business day's notice, if they think you're overtrading. I'm currently testing their limits on this exact offer.
@devilbabies: Nabtrade is forward funded, Commsec isn't. If you're day trader then you know what I'm talking about.
I've made at least few Gs a month day trading, this is rookie number compare to others in HC. I spent >20 hrs a week on HC, <2 hours on Ozb, and <2 mins on FB a week.
And this is for new users only btw.
How do I get this?
We literally just started the sign up process an hour ago but need to verify our ID at a branch and mess around to get our shares transferred over from our other account, can I still get this? Where do I put this code in?
Towards the end, at the confirm step (last step).
$1000 credit - for people who hardly buy/sell shares (i.e. me), I reckon if I signed up, at best I will only save brokerage once or twice within 90 days. As much as I would love to invest in shares, I don't have spare cash (so many bills to pay and everything seems to cost more). Visiting OZB regularly is not good either. Kept on buying things I don't actually need. :(
Aw, so I probably missed it? I wonder if I can still get it seeing as how I'm not verified yet… I have a ton of little parcels I want to sell, this'd save me a ton!
I guess I'll ring or go to the bank on Monday…
when you apply. When you trade it will 'charge' you brokerage but that amount get taken from the $1000 credit towards brokerage. You can check your balance in your profile settings from memory.
I believe the phone support from NABTrade is not as good as their competitors. Over 20-30 minutes wait time to get through to a support personnel.
Not only this but they were pretty rude to me when I tried to ask them something more complicated.
From what I've heard the NABtrade mobile platform is a fair way behind the others too
Wouldn't recommend. You can easily lose a lot of money with this service.
How?
Spending $1001 in brokerage :/
Spotify IPO in April
Or make a lot of money. No disrespect to Scotty, but OzBargain is one the worst place to discuss about shares. There are other forums made solely for this.
Good time for buying shares when they’re low.
Or when they are being pumped, before the dump.
Trying to lure millennials away from cryptocurrencies
Nah, Nabtrade is one of the worst broking app, both in desktop and mobile mode. Its forward funded as well.
Not sure if they still do this but the last time I took advantage of the offer they also offered $1000 in brokerage for o/s markets. It's a pretty decent, you can use the same platform for local and overseas markets, if only comsec was the same.
I'm fairly sure it covers overseas but not the currency conversion.
Good point about the currency conversion. Would potentially lose more on currency conversion than the limited saving mo brokerage.
I'm tempted to dip my toe in - the only thing that turns me off is that the supposed android nabtrade app looks pretty low rated from hundreds of users… its a shame because the normal nab banking up is relatively good.
Total noob in share investment. Is nabtrade good for low fee investment? What are pro and cons of it?
Trade noob here. Is this basically 1000$ to spend however you wish?
No it's free brokerage. Normally when buying stock/shares there is an admin fee, this deal gives free brokerage.
It is $1000 in free brokerage - which is a fee NAB charge you when buying or selling shares.
Unfortunately NAB is not giving you $1000 to buy shares!
If you want to buy $500 worth of Telstra shares, NAB would charge you approx $20. The $500 would come out of your pocket, the $20 would be free in this case.
Try a trading sim first, to get you a feel about it. Don't take any advice which stock to buy from a stranger. IMO, DYOR.
Come buy some shares, buy lots of different companies to use the $1000 free brokerage. Loose money as the market drops. Buy more to average down your losses, then panic sell as they drop even further.
Congratulations NAB has now made $1000+ out of you from extra brokerage fees.
Ever heard of CSL, COH, SBM, A2M, REA, RMD ?
Doubled my money on A2m. Told friends they didn’t buy any. They are regretting that. 70k is nothing to be sneezed at when people are here to save $10 of bargains.
I bought A2M at $6.7, $7.5 and $8.3, still holding. Also bought BAL at $16, still holding.
Also owned the other 5 I mentioned above, still holding. Can't be bothered remembered when I bought it but much cheaper than the current price.
And half a dozen other dodgy stocks, which I'm not going to mention here, mainly for day trades or hold less than a week.
Own 4 of those. Used to own ResMed as well sadly got out too early. CSL, real estate and cochlear arguably the best companies in Australia, bottom drawer.
A2 just amazing what they’ve been doing, very glad to be on this boat since 0.80.
All with a simple formula: Buy good companies and hold long term.
Just my 2 cents here.
I've switched from Commsec to Nabtrade and then to SelfWealth because I'm an Ozbargainer and I wanted the best value for money.
Commsec is the most expensive but had the best customer support.
Nabtrade is the cheapest for international shares and I still use them for this purpose. Aussie share brokerage fees are cheaper than Commsec but not as cheap as SelfWealth. Customer support is not great.
SelfWealth is basically no frills and cheap. Fixed brokerage fee of $9.95 per trade no matter the size of the order. Compare this with the other broker fees and you see why I use them. There are downsides though. They have a nice and easy to use UI but as I mentioned, they're no frills, they don't have stuff like market depth. I get around this by opening a Nabtrade window with market depth when I'm placing an order. And remember when I said Nabtrade customer support is bad? SelfWealth customer support is outright horrible.
Remember, if you're philosophy is as a long term investor (i.e. not a trader) then all things being equal, brokerage fees will be a big determining factor in your performance. That's why I go with the broker with the lowest fees.
If another broker comes out with a usuable UI and lower fees than SelfWealth then I am so there.
So to be a true Ozbargainer, you can use this free $1000 brokerage fee, and thrn transfer your holdings to SelfWealth.
I don't know why I always feel so passionate about this topic. I feel like a preacher, spreading the good word, the good word of saving money on brokerage fees!
Remember if you get a SelfWealth account, use a random Ozbargain referral link so that you and another Ozbargainer gets extra free trades. U less they've changed it, you'll get 10 free trades, which is worth $95.
When you spend over $5k on brokerage in Commsec, they'll send you a bottle of wine.
What kind of wine did you get?
Thanks for explaining that
Now say I am with NAB and I want to open an account with sefwealth but I also want to keeP the NABtrade account, in that case do I need to set up a new HIN? I buy Us and uk companies for long term so won’t be leaving Nabtradd for now, but happy to transfer some of the aus companies along to selfwealth.
I'm not sure if if keeping the same HIN would cause the Nabtrade account to be closed.
I started a new HIN with SW and transferred my Aussie holdings and still keep Nab for international holdings.
Thank you
So can we transfer CHESS stuff to another broker after the promo is over?
Yeah each broker has a 'broker to broker transfer form' so you would get the form from your new broker and submit that form to them. They'll take care of the transfer from your old broker.
I'm assuming it's a government regulation otherwise they wouldn't make it so simple to switch.
Who trade individual share these days? CFD for the win(sometimes big loss through).
Name checks out.
Hey guys - Im looking at investing in a simple market tracker. And I will continuously buy every time I get paid. Should I sign up for this or just commsec since my volume of trades is low and commbank has better support?
Remember that I'm not a financial adviser but I would say that if you're basically taking a buy-and-hold strategy, the fees make an even bigger difference over your investing timeframe.
Basically, the brokerage will be a drag on your performance (i.e. profits) then you want to go with the cheaper broker even moreso.
Let's say you get paid and have $2000 to buy each time:
| Broker | Fee ($) | % |
|---|---|---|
| Commsec | 19.95 | 1% |
| Nabtrade | 14.95 | 0.7% |
| SelfWealth | 9.95 | 0.5% |
Also remember the power of compound interest of the long-term. 0.5% may not seem like much but it will make a big difference to your wealth over the course of your life. Relatively as well, Commsec is 100% more expensive each time you make the trade. We, as Ozbargainers, usually look for discounts. That's like a 50% discount right there.
Hey mate thanks a lot for this write up - given this info, would you recommend starting my first 3 months of trade with NAB, then switching to self wealth?
Thanks a lot!!!
No problem mate.
That's what I would do personally but I always hesitate to make a definitive recommendation since I'm no expert on this. I just like researching this stuff and getting value.
If you do switch, you can still keep you Nabtrade account open just in case you don't like SelfWealth (SW) or if you want to buy international shares. Also if you check my post further up the page, SW lacks basic stuff like market depth so I would keep Nabtrade. Then you can open two windows to check market depth on Nabtrade while placing an order on SW.
@Hogg: How do you find Commsec's market depth feature compared to Nabtrade?
Also, for people who hardly buy / sell shares (less than 2 trades a year), do you think it is okay to stay with Commsec? Or, it is still better to use SelfWealth, Nabtrade (true OZB spirit)?
In my personal opinion, I would still rather go with the cheaper option however, it is a personal decision
If you only trade twice per year, it will depend on if you think the savings of $20 per year is worth moving brokers or not.
As with the market depth feature, I honestly can't remember now but I assume Commsec's is better than Nabtrade.
Why don't we ever get deals on insider trading?
I see this is now tagged as expired. Has someone tried to use it, and been unsuccessful?
Code still works 100%. Literally just signed up.
Where to check the current balance?
I contacted them asking this 2 days ago - still awaiting response.
Yo - it might work on their app but I’ve just exchanged a few with em. There’s no valid terms apparently so I’m ineligible and breaching. I told em I’m going to FOS and they didn’t back down. Stuff em. Staying at CMC and commsec. Thought they would’ve at least honored the deal. It expired on 31 Dec 17. Or least caved when ombudsman was mentioned. Guess there onto our tactics.
Well unsure what real tactics we're using - as when you enter during the signup process it clearely stated to me that $100 in brokerage added to account. So if they want to blame anyone they can blame themselves.
If they don't honour it - thats fine - but I'll remove the $40k I've already transfered over and avoid using any of their products again….would be a very amateurish effort by them, if they don't want the codes used - set their system to stop accepting. Can't be that hard - Mum and Dad operations do this all the time!
FWIW used code after this was marked expired and Ive just confirmed that got the $1k brokerage - as advised by them:
In order to see the details for your free trades, please simply log in and navigate to Admin > Personal details. Then, on the right hand side of your screen, please scroll down until you are able to see 'Trading Account - cash funded - NTxxxxxxxx-xxxx' section and you will be able to see free brokerage allocated along with other details.
Hope that assists.
I signed up about 2 weeks ago but couldn't find any information about "free brokerage" in my personal details.Did they remove the free stuff as long as the code expired?
I signed up and got the $1k but it seems to be allocated to an account that is titled international - not my cash funded account?
Does his mean I can only use it when buying international shares? Ummm new to trading.
Code is still valid! Thanks for posting
Code still accepted on 25/04/2018. Congratulations! You are entitled to $1,000 free brokerage!!
In my account I dont see the credit though.
I don't know why it is why marked expired. I didn't set a finish date. Perhaps a mod can fix it.
Same here.
I just signed up with the code, and got: Congratulations! You are entitled to $1,000 free brokerage!!
I dont see the credit in my account though.
Did u get the $1000 free ? is it still available?
This still works..
Its a good deal but IIRC doesn't NAB Trade not allow users to transfer their CHESS holding bought via NAB to other brokers? Which IMHO should be illegal as they're your holdings but I believe thats something they do. Makes selling via another cheaper broker very hard to do.