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Bank of Melbourne directshares Online Broking

Bank of Melbourne Directshares
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Standard brokerage fee
Available markets
ASX, 11 global markets
Video guides


If you currently bank with St.George, BankSA or Bank of Melbourne and looking to invest, then you may want to consider a directshares share trading account.

The Bank of Melbourne directshares online share trading account allows you to control your own share trading activities and make decisions about the growth of your investment portfolio and your wealth creation strategies.

Whether you're a newbie or an experienced trader, the Bank of Melbourne offers a low-cost share trading service that could be the ideal way to enhance your trading activities. The online broking platform is suitable for those customers who want to take more control over their wealth creation strategies and be more proactive about managing their own investments.

Directshares online broking allows account holders to buy, trade and sell shares, warrants, options, ETFs (exchange traded funds) or even managed funds via its trading platform.


  • Sign up for free and pay only when you trade
  • Get competitively priced brokerage fees
  • Invest in ETFs, IPOs, SMSFs and warrants through directshares
  • Access up to date information on global stock markets
  • Get a professional grade trading platform with directshares
  • Access to a phone customer service helpline
  • See updated lists of the most commonly traded stocks


  • Must be over 18
  • Minimum of $500, plus brokerage fees, required
  • Must have an eligible Bank of Melbourne, St. George or BankSA account

In this guide

  • Review
  • Details
    • Product details
  • Your reviews
  • Ask a question


Product details

Type of broker Online
ASX products Shares
Exchange traded options
Exchange traded funds
Available markets ASX
11 global markets
Standard brokerage $19.95
Support Video guides

What things should I consider about the Bank of Melbourne directshares online share trading account?

Directshares are most suitable for those who;

  • Want to manage directly their account and their investments
  • Want to learn how to trade using the free and detailed guides available in the Macquarie Education Centre
  • Do not want account-keeping fees
  • Eligible new customers can get $50 waived from broker fees for up to ten trades, when opening an account by 31 December 2017
  • Have a bank account with St.George Bank, BankSA or Bank of Melbourne, that can be used to settle their trades

What are the features of this share trading account?

The Bank of Melbourne directShares online broking account has the following features;


★★★★★ 2.9/5

Trading tools

★★★★★ 3/5

Research and education

★★★★★ 2.6/5

Available securities

★★★★★ 4/5

Customer support

★★★★★ 4/5

Available countries

★★★★★ 4/5

To learn how our star ratings are calculated, read the methodology here.

Trading tools available

The Bank of Melbourne directshares online broking account gives customers full access to a wide range of trading tools and information. If you are newbie, you can access a range of independent investment tips from independent research companies such as Morningstar, FatProphets and the Intelligent Investor or financial news from the ASX, Finance News Networks and Dow Jones International News.

You can also check a list of the most traded stocks among directshares clients, or access the Education Centre with its trading guides and daily and weekly analyses. If you are an experienced or professional trader, you can invest via the easy-to-use directshares Power platform, or check the sector analysis and stock valuation tools. You can also use the same tools as newbies and you can even receive a free summary report on your account's income and realised CGT for tax purposes.

The trading platform

The online trading platform is user-friendly and intuitive: you can control your funds and your account and see which investments are profitable.

Range of investments

If you open a directshares online broking account, you can invest in shares, options, ETFs, IPOs, SMSFs and warrants.

Competitive trading fees

One of the biggest costs of share trading is the trading fee, but the Bank of Melbourne directshares account allows you to trade for as little as $19.95 per trade. This low trading fee applies to a first trade of up to a value of $5,000 and subsequent trades of up to a value of $18,000 throughout any given month. Trades totalling higher values for the first trade per calendar month may attract slightly higher brokerage fees (please see table below).

Trade Value for 1st Trade of the MonthBrokerage Fee
Up to $5,000$19.95
$5,001 - $10,000$24.95
$10,001 - $28,000$29.95
Over $28,0000.11% of the trade value amount

However, as long as your first trade of the month is kept below a total value of $5,000, you could benefit from discounted brokerage fees on all subsequent trades for that month (please see table below).

Trade Value for 2nd and Subsequent TradesBrokerage Fee
Up to $18,000$19.95
More than $18,0000.11% of the trade value

If a customer places a buy order for $4,500 as the first trading transaction for the month, the trading fee will be $19.95. After this point, if the same customer places a sell order for $6,900, as this is the second trade for that same calendar month, the brokerage fee will also be $19.95 for that trade.

What's the application process like?

To open your directshares trading account you need to follow these steps:

  • Open an eligible deposit account with the Bank of Melbourne
  • Complete your identification for your new deposit account.
  • Open your directshares trading account online.
This information should not be interpreted as an endorsement of futures, stocks, ETFs, CFDs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading CFDs and forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades. Read the Product Disclosure Statement (PDS) and Target Market Determination (TMD) for the product on the provider's website.

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July 05, 2016

I’m now with CommSec and looking for an alternative traders


Clarizza Fernandez Finder

July 06, 2016

Hi Faruk,

Thanks for your question. If you’re looking for alternatives, our Online Share Trading Account page comes with a comparison table, which may help.





July 11, 2015

Hi there,

Just wondering, for a beginner what company is good and cheap for international trading?

Thank you



Belinda Punshon

July 12, 2015

Hi Henry,

Thanks for your inquiry.

You can compare a range of global trading platforms that allow you to trade a number of different financial instruments.

It’s important that you realize that online trading carries a degree of risk and you should always carefully consider your trading risk before engaging in this kind of activity. It is always advisable to conduct thorough research before investing as there are significant risks involved. Please also read through the Product Disclosure Statement/Terms and Conditions before making a decision on whether it is right for you. You may want to also consider speaking to a financial advisor who can guide you in stock trading. 



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