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ASX Share Trading - 10 Free Trades for New Customers, 5 Free Trades for Existing Customers (Normally $8ea) @ Thinkmarkets

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ASX Share Trading - 10 Free Trades for New Customers, 5 Free Trades for Existing Customers (Normally $8ea) @ Thinkmarkets
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barghunt1 on 12/12/2020 - 14:13 thinkmarkets.com (3280 clicks)
Last edited 31/12/2020 - 08:35 by 2 other users

Thinkmarkets asx share trading

10 free asx share trades for new customers, must be opened by 31/12/2020 and have 60 days to use once opened.
5 free asx share trades for existing customers to use by 9/1/2021.

Can only trade through app on iPhone or Android phone. Not available through iPad app or website as yet.

Normal brokerage is $8 flat fee for trades under $200,000 and you get your own HIN.

Update: Offer of 10 free asx share trades to use in 60 days of opening for new customers has been extended to 31/1/2021. (Thanks to Charlie Dont Surf for his post)

Also iPad app is now available for asx share trading.

Financial Share Trading Stock Exchange

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closed Comments

    • SlickMick on 13/12/2020 - 18:52

      Yeah I miss T+2, and taking from any account I want to link (not forced to use Commsec cash account).

      Are you saying ThinkMarkets will take money from a linked account? or I can purchase stocks with no funds, then transfer the exact amount in for the trade? Or is this just that deposits can be made fast, like payid or something?

  • defunct on 13/12/2020 - 07:09

    Do ThinkMarkets have ShareSight integration? It doesn't seem to be listed on ShareSight's supported brokers list

    • dimitryp on 13/12/2020 - 12:05

      Just had a look at ShareSight. Could you explain what the benefit of this is? Most(?) brokers already show you your portfolio performance?
      Or is this good if you use several brokers and wanted to aggregate performance insights?

      • bohn on 13/12/2020 - 15:55

        Or is this good if you use several brokers and wanted to aggregate performance insights?

        Very handy if you have multiple.
        It also let's you play with some different settings come tax time, eg maximize profit, maximize loss by doing first in first out, or last in last out on your various shares.
        Tracks all your dividends, can set it to automatically reinvest. Also does the 12mths CGT exemption on the relevant stocks etc. For foreign stocks it also puts the exchange rate in at time of purchase/sale.

    • blighst on 13/12/2020 - 16:21

      If they don't, send some of the confirmations through to sharesight and they'll likely implement it

  • LurvinOZB on 13/12/2020 - 08:56

    Noob qn: does this have those monthly accounting or maintenance fees if the account is dormant or don't trade much?

  • kgree92 on 13/12/2020 - 11:14
    +1

    Interesting. How easy to move from selfwealth to this?

  • vis on 13/12/2020 - 11:37
    -3

    This app show limited 46 Australian equities and no etfs but website mentions you can trade asx listed shares, etfs. It doesn't have basic stocks and etfs like VAS, VHY etc..not sure if it's a bug in the app or no one uses it. Also can't search the stock by ASX ticker codes that means it can't be used. Poor design. Not practical at all.

      • vis on 13/12/2020 - 12:31
        +1

        Possibly there will be more than 46 au stocks, I searched as 'au shares' but I found some more but the search is tricky and sucks. For example if you want to search BPT, you can't search by BPT or Beach Energy Ltd. Search come up with 'BeachEnergy' which is not an official ticker code or name and not sure if it ASX listed or US or UK listed, price is the only way to figure out that's an ASX listed. Found some ETFs by searching ETF but don't think they are Australian as most of Vanguard etfs will have same names in US also.

        • barghunt1 on 13/12/2020 - 16:29
          +1

          That sounds weird.

          Are you sure you used the Australian equities account opening option not the cfds?

          Here’s a video on how to make a trade with thinkmarkets for their YouTube channel. On it the shares are listed by names and ticker codes.

          https://www.youtube.com/watch?v=Nz8lQrbn4Po

          Happy to hear more about your experience.

          • vis on 13/12/2020 - 17:43

            @barghunt1: That's correct, I created account from desktop browser which opened CFD account, there was no option to select CFD or equities account. When opened the account from mobile app by default equities account opening which is showing all the ASX tickers.

            • barghunt1 on 13/12/2020 - 17:52

              @vis: Yeah asx trading is only available on mobile app. Not available on desktop or iPad as yet.

              So how are you finding asx share trading through the mobile app?

              • vis on 13/12/2020 - 18:15

                @barghunt1: App looks okay, just basic stuff available like watchlist, portfolio, news, alarms. Haven't traded anything yet. I don't think it's individual HIN, also bank account looks like a common bank account not individual.

                • barghunt1 on 13/12/2020 - 18:56

                  @vis: Thanks for the feedback.

                  Thought it might be a common bank account. It is your own hin though says so on their website.

                  https://www.thinkmarkets.com/au/shares/our-offering/australi…

                  • vis on 13/12/2020 - 19:07

                    @barghunt1: At the time of opening account, it has 2 options

                    1) Create a New HIN
                    2) Transfer an existing HIN

                    I think option 1 for shared HIN, I chose option 1 which created account instantly (Selfwealth, Open trader takes few days possibly to create own HIN and own bank accounts) and doesn't show HIN number anywhere and not sent through email also and common bank account (I think shared bank account implies shared HIN).

                    option 2 means we may end up losing other brokerage account. Not sure if we can have single HIN with 2 brokers I don't think it's possible. I think this option is only good if you want to get rid of old account.
                    .

                  • vis on 13/12/2020 - 19:12

                    @barghunt1: 'Ownership and transparency of your shares via HIN'

                    via Shared HIN?

                    • barghunt1 on 13/12/2020 - 19:19

                      @vis: I think you should contact thinkmarkets and ask them where to find your hin number.

                      • vis on 13/12/2020 - 19:20

                        @barghunt1: Will contact them tomorrow to find out.

                        • barghunt1 on 13/12/2020 - 19:40

                          @vis: Ok. :)

                          • Charlie Dont Surf on 13/12/2020 - 20:43

                            @barghunt1: Looks like all is pretty much okay with their platform, I just couldn't believe that you'd only be able to trade a handful of shares. Your OP was very clear about only being able to trade via the app.

                            The bank-account issue….I can't even wrap my head around how there could be a "shared" bank account (trading account?)? Does this exist model anywhere else.

                            • barghunt1 on 14/12/2020 - 10:40

                              @Charlie Dont Surf: From what I’ve read and heard about superhero they do something similar. You pay ID into one account and they allocate funds manually on their end to the account number provided as a reference in the transaction to your superhero account. Its also why they have a fee to reconcile funds if you forget your account number on the transaction. It’s all there in superhero faqs.

                              I can understand your apprehension about trust accounts though. They also have quick funding options so would you need to leave funds there for a lengthy period of time? Lots to consider.

                              Also if you have a Macquarie cma you can add that to your thinkmarkets account. They won’t create one for you like others do but you can add one if you have one it just requires paperwork. You can read more about that in thinkmarkets faqs.

                        • vis on 14/12/2020 - 17:58

                          @vis: Contacted them, they send the HIN number through email and said its an indivudial HIN. So this is a good deal.

    • Pleasure Paulie on 14/12/2020 - 04:40

      Surely you can trade more than 46 shares and ETFs and share via ASX ticker…. Can anybody confirm?

      • barghunt1 on 14/12/2020 - 09:33

        Because of the mass deletion of comments which had nothing wrong with them they were just a response to an unpublished comment, you missed the conversation where vis worked out that he opened a cfd account on desktop instead of an asx trading account on his smartphone. I’m letting you know so you know this comment referenced the cfd product not the asx trading product so you don’t get confused. Sorry I can’t prove what was said due to the mass deletion.

        Update: comments restored so you can now see for yourself.

        • Charlie Dont Surf on 14/12/2020 - 11:44

          Yes, sorry about that, I didn't realise that having comment removed would collapse the whole thread!! I just wanted to reduce the amount of incorrect information/confusion/gunk that was being posted.

        • Pleasure Paulie on 14/12/2020 - 14:06
          +1

          Thank you!

  • Roddi on 14/12/2020 - 11:05

    Note that they don't have real-time share prices by default. Might cost extra.

    From their FAQ:
    "Are real-time prices displayed on your platform?
    By default prices are delayed by 20 minutes. Live prices are displayed on all order tickets when orders are entered. Live streaming data in watchlists and charts are available upon request".

    • barghunt1 on 14/12/2020 - 11:27
      +1

      Brokers have to pay for live pricing on the asx. So often cheaper brokerage means no live pricing throughout the product. Selfwealth also doesn’t have free live pricing throughout the product.

      In the trading faqs for thinkmarkets it does state you get three refreshes of live prices on the order screen.

  • Pleasure Paulie on 14/12/2020 - 14:07

    How does everybody find the app? Its quite surprising they don't allow trades on their website or even have an iPad app. I guess majority of my trades are via the app anyway, but sometimes its still handy.

    • Charlie Dont Surf on 14/12/2020 - 20:04
      +1

      If I want to interact with a trading platform, I really REALLY want to do it on a PC monitor, ideally with something related on the second screen. Not a fan of app-only.

      • Pleasure Paulie on 14/12/2020 - 22:24

        I just signed up.. It looks like it may have a desktop app for Mac and windows but not website. Will confirm once my account is verified.

        Edit.. It looks like the desktop app might be for TA only and not trades.

        • Charlie Dont Surf on 14/12/2020 - 23:22

          I'll probably sign up towards the end of the month. So you can view daily movements in your portfolio value etc on the desktop?

  • macr0hard on 15/12/2020 - 11:37

    What document do I use as 'proof of residence' during the sign up stage? They're already asking for photoID and my driver's licence has the address in it. Signing up with the app is not great as it's hard to find documents that are usually stored in the laptop.

  • macr0hard on 21/12/2020 - 10:43

    so far so good except today every time I try to place an order I got the error "order rejected by liquidity creator" . Chat to them, they dont know why and suggested I place an order through the phone which wont appear in the app until after overnight. Have used 3/10 free trades now but looks like I'll have to move my money out. Also when you try to move money out it sends an email to their team with the details so looks like a manual execution.

    • ozmk on 23/12/2020 - 11:56

      I tried to test the deposit and withdrawal process. It seems to be easy to put MONEY in and take 2-5 Business days to get it out !&$%?

      Is that 2020's?

      "BUYER BEWARE"

      I don't think I will use them to trading for the sake of saving a few bucks.

      As you are always to aim to make more money from the market rather than saving $20 or $30 bucks. Do you?

      • macr0hard on 23/12/2020 - 13:37
        +1

        Actually based on my experience it wasn’t that bad. Took money out of my account twice, one appeared in my external account within the day I.e. transfered in the morning got the money at night, another one took one business day

      • jobargain on 24/12/2020 - 10:15

        Only thing I like about this is the instant fund transfer option, which somehow Selfwealth is still lacking behind.
        This account will be good for a FOMO buy when I can't wait for the money to hit SW account the next business day..lol

  • eecchhoo on 30/12/2020 - 18:12

    I have submitted my application for 2 days and it’s still pending verification.
    I took a picture of my license front and back on my phone camera from their app but they said I have cropped it and not acceptable. I also sent another one via email and still not acceptable.
    I normally doing the same thing with other provider and no problem.
    Not sure what they mean by this and I didn’t edit/crop my pictures…

    • macr0hard on 31/12/2020 - 08:45

      You can chat to them from the app and ask them, i found them quite helpful

      • eecchhoo on 31/12/2020 - 13:41

        Yeah tried that and he just said wait till it got verified. It sounds like need to wait for whoever sit on my case which is the third day and smy account still not opened…

        • macr0hard on 31/12/2020 - 14:22

          I had some hiccup with mine first time as well and was asked to send docs through email. Had a chat with them they said they could cancel that account and I could try again with a different email address and do the live online verification instead of sending docs. The trick is to have all your docs ready in your phone to do live verification but my 2nd attempt got approved within a few hours.

          • eecchhoo on 01/01/2021 - 16:50

            @macr0hard: I had a chat with them again yesterday and they passed on the message to their account team. Magically the account is opened at 4am new year day….
            thanks for the advise

  • Charlie Dont Surf on 30/12/2020 - 23:18
    +1

    This offer has been extended to 31 January 2021.

  • Jjklark on 08/01/2021 - 12:09
    +1

    Went through with opening an account, had it verified with driver licence etc. and was able to fund it within 48 hours. I've placed a trade and seems to be very straightforward.

    • Charlie Dont Surf on 11/01/2021 - 15:10

      How do you rate the platform UI? Does it have a few bells and whistles, or just very basic? I'll probably open an account by the end of the month, but interested to hear thoughts.

      • Jjklark on 11/01/2021 - 15:16

        I'm probably not fit to comment on the UI. I was after something simple to place a trade and it worked well. It was simple to navigate and wasn't looking for bells and whistles

  • Pleasure Paulie on 10/01/2021 - 03:58

    I did not end up using my account and cancelled it. I think opentrader with $5 up to 5k is a better deal for me.

  • rev0 on 13/01/2021 - 19:08

    When I click through the 'Start Investing' link on the home page it asks you to fill in a form and says it will send a link to download the app to your email. I filled this form in and didn't receive any email.

    Contacted chat and at first they say the 10 free trades promotion expired on 31 Dec. When I point out that the offer is currently on their website homepage with a 31st Jan expiry, they then say there is no form/link to download the app and just download it from the app store.

    Not sure I can trust these guys as an equities broker now, some pretty clear warning signs.

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