HSBC is one of the world’s largest financial services institutions.
Covering over 71 countries around the globe, 47 million customers are banking or investing with HSBC each day. HSBC entered the Australian market in 1965 and since 1986 has been providing banking products and services with a banking licence.
This includes it’s Online Share Trade Account, which gives you easy access to a broker in order to assist with your trading needs. You choose how much fees are charged based on how much you plan on trading, and how much information you want to receive.
What can I trade with HSBC?
The HSBC online share trading service is managed through an agreement that the bank has with a third party platform. Through this you can access brokers to help facilitate trades on the Australian stock exchange. Conditional orders are included as a part of the package, allowing you to capitalise on trading opportunities and manage your risk. Orders can be placed with a limit price, percentage trail, cross stock, volume or time based triggers.
What are the best things about HSBC share trading?
You get access to free research
With HSBC you are able to access for free a wide range of professional research, consensus recommendations, insights and trading tools. This includes a market map that allows you to generate new trading ideas.
You also get free access to live market data
All service levels come with a market feed, but the quality depends on your level. You can choose a service that provides 20 minute delayed data or you can upgrade to live date and dynamic data feeds.
You can access your account 24/7
Access is provided online, where you are connected to a professional broker. Mobile and tablet access is also available, and your funds will be deducted from your linked HSBC deposit account. Phone trades are also permitted, but will incur a higher charge.
You can trade a range of order types
Conditional orders are permitted based on the Australian Stock Exchange (ASX) security index movement. This allows your choice of a specified limit price, percentage trail, cross stock, volume and time based triggers. Stop loss orders are another way in which you can commence an investment with the broker.
You also get a tax report to help make tax time easier
HSBC will issue you an end of year financial report detailing your trades in order to facilitate your tax filing.Back to top
What are the different service levels of HSBC?
|Silver||20 minute delayed data||Free|
|Gold||Live data feed||$10 monthly|
|Platinum||Dynamic data||$27.50 monthly|
|webIRE$$||Dynamic data||$79 monthly|
|webIRE$$ & Platinum||Dynamic data||$106.50 monthly|
What support and information is available with HSBC?
You are given unlimited access to professional research and consensus recommendations when trading with HSBC. If you need additional support you can access the FAQ page which provides answers to some of the most commonly asked questions of HSBC clients and traders.
What are the fees associated when using HSBC?
In addition to your monthly ongoing fee, you will also incur other charges to your account as you execute trades through the HSBC online trading platform:
- Internet trades. Equity and warrant trades made online of less than $15,000 are $15.95, while you will be charged 0.11% of the value on trades above that amount.
- Telephone trades. You will be charged the greater of $60 or 0.2% of the trade value when you open an equity or warrant trade over the phone.
- Post. Contract notes received by post will result in a $3.30 charge to your account.
- Off market transfer. This type of transaction is charged to you at $55 per stock.
- Fail fees. You could be charged the greater of $110 or 0.16% a day in fail fees.
- SMS fees. For stock alerts and order notifications sent to your mobile phone you will be charge 0.55 cents per message.
What are the points in favour and against using HSBC for my next trade?
Points in favour
- Accessible to mobile and desktop. The mobile apps and online access make it easy to remain on top of your trading activities.
- A range of order options available. Stop loss and other advanced conditions are available to you with no additional cost.
- No linked account required. You don’t need to hold a separate account in order to trade. With HSBC you work using your linked HSBC deposit account.
- A range of pricing plans to suit you. There are multiple pricing plans available that allow you to pay for the services that interest you the most.
- Only available to HSBC account holders. You must be an account holder with HSBC in order to be able to trade through this platform.
What you need to know about the application process for HSBC
In order to apply for the HSBC trading account, you must first have a cash account that it can be linked to. Even then you will need to submit a second application online specifically in relation to this product. Being an existing client of HSBC does not guarantee that your application will be accepted for the trade account.
Help! I have some more questions
Do you need to be an Australian resident to open an account?
No, but you will need to apply through the HSBC sales team as different criteria will need to be met if you are not currently living in Australia.
What accounts are your dividends paid into?
Does HSBC offer personal trading advice?
Not directly, but you will be connected with a third party broker who may be able to help you with personal trading advice.
How do I upgrade or downgrade service levels?
You will need to contact HSBC in order to switch your current service level.