HALO Trading review for Australians
- Standard brokerage fee
- $15
- Available markets
- ASX, NASDAQ, NYSE, and more
- Support
- Phone, Email
Our verdict
Trade globally for less, but keep the fees in mind.
If you're looking for a platform that bridges the gap between accessibility and global market reach, HALO Trading could be your go-to. It stands out, particularly for those aiming to diversify internationally, with its free account access to 35,000 companies across 30 exchanges like the ASX, Nasdaq and Nikkei.
A key highlight of HALO Trading is its highly competitive FX rate at 0.5%, especially when compared to other platforms such as eToro. For instance, eToro charges a conversion fee based on PIPs, amounting to a fee of 1.5% or 3.0% depending on the currency and/or payment method. (Consider reading our eToro review to know more.)
With HALO's lower FX rate, traders can potentially save on conversion costs, making it a cost-effective option for those dealing in multiple currencies.
However, it's worth noting that smaller trades under $12,500 attract a $15 fee with HALO Trading. This could be a factor to consider if your strategy involves frequent smaller trades.
Additionally, the exclusion of US and Canadian citizens/residents may limit its accessibility for some potential users. That is, the platform and services are specifically tailored for Australian residents.
Pros
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Access to a wide range of global markets, including 35,000 shares and ETFs across 30 exchanges.
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Includes 29 pre-made investment themes for easy portfolio diversification.
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Competitive pricing with no hidden fees, offering free account set-up.
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Low-cost trades, particularly beneficial for larger transactions over $12,500 with only a 0.12% fee.
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Competitive FX rate at 0.5%, advantageous for trading in different currencies.
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Simplified trading experience with an intuitive platform.
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Robust security, with assets held in custody by a reputable broker.
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Dedicated customer support available via phone and email.
Cons
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A $15 fee for trades under $12,500, potentially costly for frequent smaller trades.
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HALO Trading does not accept US or Canadian citizens/residents as clients.
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Only Australian dollars are accepted for deposits.
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Extra charges for accessing research reports and HALO Global.
Details
Platform details
| Type of broker | Online, Mobile |
| ASX products | Shares, Exchange traded funds |
| Available markets | ASX, NASDAQ, NYSE, and more |
| Standard brokerage fee | $15 |
| Support | Phone, Email |
| More Info |
About the company
HALO Technologies, established in November 2017 and listed in April 2022, offers online global equities research and trade execution software. The platform was designed to make institutional-grade analytical frameworks accessible to everyday investors.
It features HALO Global for hands-on investors seeking professional-grade tools and HALO Trading, which provides global trade execution and themed investment portfolios suitable for low-touch investors and SMSFs.
The company's background reflects a focus on making advanced investment tools available to a broader audience.
Is HALO safe to use?
HALO Technologies is backed by significant credentials and measures to ensure the safety of your money and data.
It holds an Australian financial services licence from ASIC under HALO Technologies Pty Ltd (ABN 54 623 830 866). It's also registered as a Qualified Intermediary with the IRS in the US.
Ratings from review sites:
- AU Trustpilot: 4.1/5
As of May 2024
What markets can I trade with HALO Trading?
With HALO Trading, you can dive into a wide range of markets, including:
- ASX-listed shares. Simplified trading platform for buying and selling Australian stocks.
- International shares. Access over 35,000 shares and ETFs across 30 global exchanges, including major ones like the Nasdaq, NYSE and Nikkei.
On the flip side, the platform's offerings are limited compared to other service providers such as eToro or CMC Invest.
HALO Trading highlights
Here are some notable features:
- Intuitive trading platform. HALO offers an intuitive trading platform designed to simplify the trading process for users.
- Advanced analytics. Users can leverage advanced analytics tools to make informed trading decisions and gain insights into market trends.
- Risk management. HALO Trading prioritises risk management, allowing users to set risk parameters and strategies that align with their financial goals.
- Global markets. HALO provides access to a wide range of global markets, enabling users to trade in various asset classes and geographic regions.
- User community. The platform fosters a community of traders who can share ideas and strategies, promoting collaborative learning.
What are HALO Trading's spreads and fees?
Brokerage fees (per trade)
- For trades under $12,500: $15 per trade.
- For trades over $12,500: 0.12% of the trade amount.
Foreign exchange (currency conversion fee)
HALO Trading charges a currency conversion fee of 0.5% when converting funds into different currencies for trading.
Additional fees
If you are investing in HALO Trading's Vues, you will be charged a research fee of 0.80% p.a. (calculated daily and charged monthly) on the market value of the holdings in the Vue. This fee is in addition to the standard brokerage and currency conversion fees for any buy or sell transactions.
There is also an annual platform access fee or a subscription fee.
Please note that in addition to HALO Trading's fees, there may be additional taxes and fees charged by exchanges and countries in foreign jurisdictions, which HALO Trading passes on to its users.
Take a look at the HALO Trading app
HALO Trading's app store reviews
| Google Play | 4.5/5 stars, based on 10,000+ reviews |
| Apple Store | 3.7/5 stars, based on 21 reviews |
What customer support options are available from HALO Trading?
HALO Trading provides dedicated customer support with options to contact its client services team:
- Phone support
- Email assistance
- No live chat available in Australia yet
How do I open an account?
To open an account with HALO Trading, you can simply follow the process outlined on its sign-up page. This involves:
- Completing an online application form.
- Provide personal details such as your name, email and contact number.
- Submitting identification documents for verification.
- Answering questions related to your trading experience.
For a detailed step-by-step guide, please visit the HALO Trading sign-up page.
Frequently asked questions
Your reviews
Shubham Finder
Writer
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