Macquarie Bank simplifies how you trade in the stock market, giving you multiple investment options.
Macquarie Bank began operations in December 1969, as Hill Samuel Australia. At that time, it operated as a subsidiary of a UK merchant bank, Hill Samuel & Co Ltd. It took to its current name in 1985, after obtaining an Australian banking licence. This was also the year it began offering stock broking services.
The financial products and services it offers are for personal, business, corporate and institutional customers alike. This guide takes you through the trading options you can find through Macquarie Bank.
What can I trade with Macquarie Bank?
With a Macquarie Bank online trading account, you can invest your money in different ways. Your options include:
You can invest you money in shares of around 2,200 companies listed on the Australian Securities Exchange (ASX).
Exchange traded funds
Your Macquarie Bank trading account lets you invest in exchange traded funds (ETFs). ETFs can track commodities, bonds, indices or baskets of assets. You can trade in ETFs through the ASX.
Exchange traded options
Exchange-traded options on offer through the Macquarie Bank trading account also trade through the ASX. A standardised contract ensures that you know of the strike price and expiration date in advance.
These refer to unlisted managed funds settled using ASX operating rules. You can use your Macquarie Bank trading account to invest through the mFund Settlement Service. This lets you diversify your portfolio easily.
By investing in warrants you can choose to buy an underlying security at a certain price on a before a given date. Unlike options that function as instruments of the stock market, companies issue warrants on their own.
Short sell shares
Short selling involves selling shares that you don’t own by borrowing them. Experienced investors go this way with the hope of buying sold shares back at cheaper prices. This is also something you can do with your Macquarie Bank trading account.
Macquarie Bank lets you trade in futures through a futures trading account. This gives you the ability to gain leverage by trading in different commodities and financial instruments from Australia and overseas. Your alternatives include share indices, currencies, commodities as well as interest rate futures. You can access the exchanges on offer through a Macquarie specialist futures broker or by choosing from its advanced online trading platforms such as CQG, Trading Technologies (TT) and Patsystems (PATS).Back to top
Why trade with Macquarie Bank?
Market data and research
Macquarie Bank trading account holders can monitor the market using an internet enabled computer, smartphone or tablet. You get access to the latest news from Dow Jones as well as the most up-to-date company information from Morningstar. You also get access to ASX quotes, watchlists, consensus research reports, company data and more.
Trading and monitoring your account is easy. You can do this online, using a computer, smartphone or tablet. You can also trade over the phone.
When investing in shares, you get to buy and sell shares listed on the ASX. If you wish to trade in futures, you get access to an array of futures contracts through exchanges across Americas, Australasia, Europe, Middle East and Africa. Some of the exchanges you can trade through include CBOE Futures Exchange (CFE), Chicago Board Options Exchange (CBOE), New York Mercantile Exchange (COMEX/NYMEX), Toronto Stock Exchange (TMX), Hong Kong Exchange (HKEX), Singapore Exchange (SGX), Tokyo Futures Exchange (TFX),Eurex (ERX) and London Financial Futures Exchange (LIFFE).Back to top
What are the different service levels of Macquarie Bank?
The Macquarie Bank online trading account lets you choose from different market data packages. Services levels vary in accordance. The corresponding table shows details of your options.
|Market data package cost||ASX quotes||Market depth and detail||Watchlists||News and company announcements||Charting|
|Silver||Free||20-minute delayed||20-minute delayed||20-minute delayed||Live||20-minute delayed|
|Gold||$10 per month||Live||Live||Live||Live||Live|
|Platinum||Up to $22 per month||Streaming||Streaming||Streaming||Streaming||Live|
|WebIRESS||$79 per month||Streaming||Streaming||Streaming||Streaming||Advanced content, real-time|
With the Gold package, you simply have to click to refresh market data and prices. If you go the Platinum way, you have to pay the $22 monthly fee upfront, accrued at 6.6 cents per minute. You get a refund of the unused portion at the end of the month.Back to top
What support and information is available with Macquarie Bank?
Existing Macquarie Bank online trading account holders can speak to a customer service representative over the phone, 8am to 6pm, Monday to Friday (AEST). You can also get in touch with one via email. With a Macquarie futures trading account, you get access to a 24-hour Australian desk that you can turn to for assistance, checking up on markets and trading.
All online trading account holders get access to after-market email watchlists and portfolio updates, consensus research reports as well as company data surrounding dividends, corporate actions and profiles. No matter which market data package you select, you can also get email and SMS alerts.
New and seasoned traders can benefit by going through an array of online educational material. Some of the questions answered include how to start investing in shares, which trading platform to choose, why you should use leverage, how to reduce risk by diversifying and is borrowing to invest in shares a good idea.Back to top
What are the fees associated when using Macquarie Bank?
This is what the Macquarie online trading fee structure looks like:
Standard brokerage rates
|Online equity and warrant trades||$19.95 or 0.12% (whichever is greater)|
|Phone equity and warrant trades||$49.95 or 0.30% (whichever is greater)|
|Equity and warrant conditional orders||Free|
Exchange traded options (ETO)
|Online trades||$29.95 or 0.30% (whichever is greater)|
|Phone trades||$59.95 or 0.40% (whichever is greater)|
|ASX Clear transaction fee - equity options||$0.143 per contract|
|ASX Clear transaction fee - index options||$0.495 per contract|
|Equity trade ETO exercise or assignment||$49.95 or 0.30% (whichever is greater)|
|ASX Clear exercise/assignment fee - equity options||$0.055 per contract|
|ASX Clear exercise/assignment fee - index options||$0.385 per contract|
|Per online application or redemption||$30 or 0.1% (whichever is greater)|
|Per over the phone application or redemption||$60 or 0.2% (whichever is greater)|
What are the points in favour and against using Macquarie Bank for my next trade?
Points in favour
- You can integrate your Macquarie Cash Management account. You get to use an integrated Macquarie Cash Management Account (CMA) to place and settle trades quickly. When you initiate a trade, the integration ensures checking your CMA balance in real time, minimising the possibility to settlement failures.
- You can integrate your Macquarie Prime Facility.. If you wish to borrow to invest, the Macquarie Prime Facility can work in your favour. This way, you can borrow up to 95% of the required money to invest in or short sell shares. You get to monitor your investments’ performance in real time.
- You also get multiple market data packages. Choose from various market data packages based on your requirements. You can opt for 20-minute delayed, live as well as streaming data.
- No round-the-clock support. While futures trading account holders get the benefit of 24/4 phone support, online trading account holders have to make do with phone support during business hours on weekdays.
The application process with Macquarie Bank
You can open a Macquarie online trading account as an individual, a joint account holder, a trust, a self-managed super fund, a company, a business, an incorporated association or an incorporated body. To begin the application process, simply click on the ‘Apply Now’ button. To apply as an individual, you should be over 18 years of age and an Australian resident.
If you wish to open a Macquarie futures trading account you should have adequate experience in futures trading or hedging. This account comes with a minimum opening requirement of $10,000. You should also have $250,000 or more in tangible assets.
Wait, I still need help!
How much time does it take to complete a Macquarie online trading account application?
If you have the required information close at hand, the process should take no more than five to 10 minutes.
What details do I have to provide to apply for an online trading account with Macquarie?
You’ll have to provide your name, contact details, identification details and tax file number (TFN). Providing your TFN is not mandatory.
I have an existing Macquarie Cash Management Account. Can I link use it with a new Macquarie trading account?
Yes. You can link your existing Cash Management Account to your new trading account.