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AUD 25 for transactions under AUD 83,000
Standard brokerage fee
ASX
Available Markets
Phone, Email
Support
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Type of broker |
Online |
---|---|
ASX products |
Shares Exchange traded options Warrants |
Available markets |
ASX |
Standard brokerage |
AUD 25 for transactions under AUD 83,000 |
Support |
Phone |
Formerly a part of the ING Group under the name BBL Financial Services Limited, Morrison Securities Pty Limited became a participating organisation of the Australian Securities Exchange (ASX Group) in 1985. This is an execution only broker, providing a trading platform and margin lending to investors of all sizes.
With Morrison Pty Limited you will find a range of services that meet every need. In addition to margin lending, you can access equities, day trading and options all from a convenient portal. The rates and fees charged for these activities are competitive for the market, and will be based on the type of transaction and dollar amount.
Members of Morrison Securities Pty Limited are able to invest their money in any one, or combination of, the following wealth building opportunities:
You can invest in equities as a day trader, through your internet trading platform or over the phone. One-off sale or deceased estate equity investments are also permitted. Fees for each transaction are dependent on the amount of money you are investing and the method used.
A flat rate of $25 is charged if your day trading transaction is below $83,300. For investments in day trading above that amount you will be charged 0.03% of the trade value.
The way in which you are holding your funds will determine the fees charged for option investments. For those using a linked Macquarie or Adelaide Bank cash management account, you will pay $5 more for each transaction than if you are holding your funds inside of a Morrison Securities Trust Account.
With this type of transaction you are charged a $50 brokerage fee for transactions under $50,000. Larger transactions will pay 0.10% of the value of the transaction.
You will also be asked to participate in a monthly subscription package for online trading. This is a free service if you are making ten or more transactions a month, but $100 monthly if you fall under that amount.
Back to topMorrison provides a user friendly online platform that facilitates all of your trade activity. You can also make trades over the phone, which will be initiated while you are still on the line. Active traders can also download an app for an iPhone or Android device that allows you to view your portfolio see your cash holdings at any time. There is a fee to subscribe for the app service, but it is provided for free as a part of the IRESS Professional subscription.
While you have the capability to enlist margin lending through a provider of your choice, Morrison Securities can also link Leveraged to your investment account. Not only does this service allow you to extend your investment opportunities, they provide you with expert advice on the market and counsel you on the best ways to grow your wealth based on your circumstance.
You can hold your own cash management account with Morrison, which will enable you to get discounts on certain trading options. It may also be linked to outside banking accounts if you prefer to keep your investment cash all in one place.
Service Level | Features | Cost |
---|---|---|
IRESS Trader | The basic online trading platform includes:
| $100 monthly when you make between 0 to 9 trades. Free when you make 10 trades or more. |
IRESS Investor | In order to qualify for IRESS Investor you must maintain a minimum balance of $5,000 in your trading account. Features include:
| Free |
IRESS Mobile | This added service gives you access to your account from your cell phone, along with pertinent market information. Also included is:·
| $50 for the monthly subscription which is waived when you upgrade to IRESS Professional. |
IRESS Professional | This package allows you to make an unlimited number of trades across multiple markets. You are also provided with:·
| Subscribers pay $1,100 monthly for this service. |
The amount of market information made readily available to your through your trading platform will be determined by the platform you have subscribed to.
If you prefer, you can also commence a trade over the phone, where calls are answered by a real person who is working the trading desk.
They will be able to place your order immediately while you are still on the phone. There is a $40 brokerage fee when this service is used for a transaction valued below $40,000. Transactions at higher values will be charged 0.10%.
With Morrison you are expected to pay ongoing subscription fees for online access to the platform, along with brokerage fees. Those brokerage fees will also vary depending on the type of investment, value of the transaction and in some instances the account from which you are drawing funds from.
Morrison provides their application online, although you will need to print it, fill it in, and then send it to the firm before your selected account can be opened. This same application is used for individuals, companies, trusts, and associations. You will also need to provide at least two forms of identification when submitting your application. These could include your:
At least on submitted identity document should include your photo. All copies will need to be certified before the application can be processed.