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Marketech share trading review
Low brokerage for ASX stocks all while enjoying real-time market data and live trading charts.
Finder's rating: 3.8/5
★★★★★
AUD 5
Standard brokerage fee
ASX
Available markets
Support
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Details
| Type of broker |
Online only |
|---|---|
| ASX products |
Shares |
| Available markets |
ASX |
| Standard brokerage | AUD 5 |
| Support |
Email |
Key features worth highlighting
| Fees |
★★★★★ 4.4/5 |
|
| Trading tools |
★★★★★ 2.9/5 |
|
| Research and education |
★★★★★ 3/5 |
|
| Available countries |
★★★★★ 1.5/5 |
|
| Available securities |
★★★★★ 1.5/5 |
|
| Customer support |
★★★★★ 2.7/5 |
Provides a high degree of fund security
As soon as you open a trading account with Marketech, you are provided with a Macquarie Bank Cash Management Account (CMA), which basically serves as a storehouse for all of your funds after you successfully execute a buy/sell order.
Personal HIN provided
When you trade with Marketech, you get your own Holder Identification Number (HIN), as a result of which all of your purchased shares are booked under your name exclusively. This gives you freedom to transfer your holdings to and from your account as you please.
Low brokerage fees
Marketech’s FocusLite model, which aims to primarily serve low-volume traders, levies a flat $10 minimum brokerage fee per trade while its premium counterpart, Focus, makes use of a $45 monthly subscription, levying a minimum $5 per trade brokerage rate.
Solid industry partnerships
Marketech recently entered into an agreement with portfolio management company Sharesight, thus allowing the firm to make use of the latter’s novel market-tracking products. As a result, investors can get a clear, instant insight as to how their portfolios are performing as well as keep a tab on their dividend payments, generate tax reports, etc – all with the touch of a button.
Real-time data in the palm of your hands
The platform provides investors with market data in real time, allowing users to identify and act on trends using live charting tools as well as a market depth monitoring system.
2 accounts to choose from
| Marketech FocusLite | Marketech Focus | |
| Subscription charges | $0 | $45 |
| Brokerage rates | $10/0.04% | $5/0.02% |
| Price data delivery | Updated upon refresh | Real time |
| Market movers scan | No | Yes |
| Technical analysis overlay on charts | Available | Available |
| Individual HIN (not trustee) | Yes | Yes |
| Individual Macquarie CMA | Yes | Yes |
| Sharesight integration | Yes | Yes |
What’s the catch?
Even though Marketech’s premium Focus account provides users with live pricing data, the standard FocusLite account requires users to refresh each page repeatedly in order to obtain real-time market insights, which can become quite an arduous task within a fairly short period of time.
Some charts and pricing data don’t seem to calibrate too well when viewed on smartphone screens, as a result of which, it can become hard for investors to make accurate reads or take calls in relation to some trend patterns.
How does the system work?
Marketech is a share trading platform and all trading, account and settlement services are provided by OpenMarkets Australia. All shares bought via the platform are CHESS sponsored and held in your name.
Your funds are stored with a Macquarie Bank CMA, with each user being provided with their very own HIN.
Primary fee structure
Marketech’s FocusLite offering, which has been designed with the goal of serving low-volume traders, provides users with free monthly access and minimum brokerage charges of $10 per trade or 0.04%.
On the other hand, Focus, which is Marketech’s premium trading account, has been crafted for active traders and charges a $45 monthly subscription. It allows users to obtain live ASX data streams and charges a minimum $5 or 0.02% brokerage rate per transaction.
Pros and cons of Marketech
Pros
- Brokerage starts as low as $5 per trade
- Free access to Marketech’s basic account is provided to everyone
- Live prices are available on both the basic and premium accounts
- CHESS-sponsored shares
Cons
- Marketech’s FocusLite account does not provide live streaming prices
- The premium account charges $45 per month account fee
How to open a Marketech account
The entire process of opening a trading account of Marketech is fairly straightforward. In order to open an account, all you have to do is:
- Go to the Marketech website by clicking on the following link https://marketech.com.au.
- Fill out your name, email address and other basic details.
- Verify your identity by supplying some personal ID such as an Australian passport, driver's licence or Medicare card.
- Once the verification process is complete, add some funds to your account and start trading.
