Monex Securities share trading review
- Standard brokerage fee
- Available markets
- ASX, NASDAQ, NYSE, Hong Kong Stock Exchange, Shanghai Stock Exchange, Tokyo Stock Exchange, Singapore Exchange, and more
- Phone, Email
Monex Securities is a relatively affordable broker that trades in multiple currencies and countries, meaning it will appeal to a majority of investors looking to expand their trading portfolio across multiple markets supported through one central platform.
|Type of broker||Online|
|ASX products||Shares, Exchange traded funds|
|Available markets||ASX, NASDAQ, NYSE, Hong Kong Stock Exchange, Shanghai Stock Exchange, Tokyo Stock Exchange, Singapore Exchange, and more|
|Standard brokerage fee||US$0|
What can you trade with Monex?
Monex Securities is a share trading platform that allows you to trade both domestic and international securities from either your phone or computer.
The online platform as well as the iOS and Android apps allow you to access and trade across over 70% of the global market cap while offering $0 brokerage on US and Hong Kong markets. You can trade with the following 12 countries:
- United States
- Hong Kong
- South Korea
While the broker allows access to various countries around the world through its shares, exchange traded funds (ETFs), listed investment trusts (LITs), listed investment companies (LICs) and real estate investment trusts (REITs), you won't be able to trade forex or CFDs through Monex Securities.
Multi-currency: If you sign up with Monex, you'll be able to trade in various currencies including AUD, USD, HKD, RMB, SGD and JPY.
FX Advantage: Monex does not automatically transfer sales into Australian dollars. FX Advantage means that proceeds of any sale are held in the settlement currency of each market instead of being automatically converted back into AUD. For example, if you sell a share in Japan, your funds will be transferred to the Japanese yen. If you were to buy another share in Japan, you would save on the forex fee because of this process.
Currency flexibility: You can trade in any currency that Monex supports. That means, for example, you can buy US shares using Australian currency. However, you will be charged a forex fee.
Multi-market trading: Access exchange listed securities in 12 international stock trading markets across Asia and the United States, covering over 70% of global market capitalisation.
Multi-market watchlist: You can also add stocks from 12 international markets into one watchlist, making it easier for you to find the best opportunity for you at that time.
Trading ideas and tools: Monex gives access to trading tools, including technical analysis on almost every financial instrument across the 12 markets it gives access to.
App and desktop: Monex offers a mobile app platform with over 50,000 global listed companies from either your phone or computer.
What does Monex Securities charge?
Monex fees vary greatly depending on what country you are trading.
|Monex brokerage fees|
|United States (NYSE, NASDAQ)||Free||USD|
|Australia (ASX)||0.132% (Min AUD 19.95) for ASX||AUD|
|Japan (TSE)||0.10% (Min. JPY2,000)||JPY|
|Hong Kong (HKEX)||Free||HKD or USD or RMB|
|China (SSE, SZSE via Hong Kong Stock Connect)||0.10% (Min. RMB88)||RMB|
|China B (SSE)||0.25% (Min. USD10)||USD|
|China B (SZSE)||0.25% (Min. HKD80)||HKD|
|Taiwan (TWSE)||0.20% (Min. NTD400)||USD|
|Korea (KRX)||0.30% (Min. KRW15,000)||USD|
|Indonesia (IDX)||0.25% (Min. IDR200,000)||USD|
|Malaysia (MYX)||0.25% (Min. MYR80)||USD|
|Philippines (PSE)||0.30% (Min. PHP500)||USD|
|Singapore (SGX)||0.25% (Min. SGD25 or HKD120 or USD18)||SGD|
|Thailand (SET)||0.30% (Min. THB300)||USD|
Is Monex Securities safe for beginners?
Despite so many options potentially being overwhelming for beginners, Monex is safe to use with many of the same features you would expect to see from its competitors.
Monex does a good job when it comes to educational material to help investors catch up, and also includes a YouTube series of the most popular traded shares, which can help beginners generate new share ideas.
How to get started with Monex Securities
Creating an account is relatively straightforward and should only take you a few minutes to sign up.
Signing up to Monex can be done in 4 simple steps.
- Complete the application form with your basic information
- Deposit funds into your account
- Start trading with Monex
- Monitor and review your positions
Monex offers support to its customers in 3 main ways:
- Online contact form
- WeChat support
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