Macquarie Online Trading Account

What happened to Macquarie Online Trading?

Macquarie's online share trading platform was powered by technology from Bell Financial Group for several years. In 2025, this arrangement ended and Macquarie exited the online trading space.

Here is a timeline of the closure:

• 22 January 2025: Macquarie Online Trading closed to all new applications.
• 22 February 2025: All existing trading accounts were officially transitioned to Bell Financial Group.

Retail (non-advised) clients now have their accounts with Bell Direct. Clients who were linked with a financial adviser now have their accounts with Desktop Broker. Both platforms are owned and operated by Bell Financial Group.

Importantly, the CHESS sponsorship of assets did not change during the transition, as it was already handled by a Bell-owned subsidiary. This means your shares were not transferred to a new broker, but rather the branding and account provider changed to Bell Direct or Desktop Broker.

The transition to Bell Direct: A quick summary

For former Macquarie clients, the transition to Bell Direct involves a few key changes. While the core trading technology is similar, you gain some new features while the platform branding and login process have changed.

Fees for transitioned Macquarie clients

Bell Direct has honoured the brokerage fee structure for former Macquarie Online Trading clients. Your trading costs for Australian shares and mFunds remain the same.

Standard brokerage rates

mFunds

Bell Direct also offers trading in other products like Exchange Traded Options (ETOs) and has a schedule for other service fees, such as SMS alerts and off-market transfers. For example, online ETO trades cost $29.95 or 0.30% (whichever is greater) plus ASX fees.

Market data packages on Bell Direct

As a Bell Direct client, you have access to several market data packages. The free option provides delayed data, while paid tiers offer live and streaming data.

Alternatives to Macquarie Online Trading

If you were looking to sign up with Macquarie, you'll now need to find an alternative. The platform you were transitioned to, Bell Direct, is a strong contender known for its CHESS-sponsored model, which gives you direct legal ownership of your shares via your own Holder Identification Number (HIN).

Here’s how Bell Direct stacks up against two other popular Australian platforms:

• CommSec: As Australia's largest online broker, CommSec offers a huge range of investment products, including international shares and is integrated with Commonwealth Bank accounts. Its standard brokerage for trades up to $1,000 is lower than Bell Direct's, but can be higher for larger trades.
• Selfwealth: A popular choice for its simple, flat-fee brokerage of $9.50 per trade for both Australian and US shares, regardless of the trade size. Like Bell Direct, it is CHESS-sponsored, but it offers fewer research tools compared to the major bank-backed brokers.

Before you open a share trading account, it's worth comparing fees, features and available markets to find the best fit for your needs.

Customer support for former Macquarie clients

Your point of contact for any trading account queries is now either Bell Direct or Desktop Broker, depending on your account type.

For retail clients (Bell Direct):

• Phone (Australia): 1300 786 199
• Phone (International): +61 3 8663 2700
• Hours: 8am - 7pm Monday to Friday (AEST)

For advised clients (Desktop Broker):

• Phone (Australia): 1300 726 177
• Phone (International): +61 3 8663 2771
• Hours: 8am - 5:30pm Monday to Friday (AEST)

For questions about your linked Macquarie Cash Management Account, you will still need to contact Macquarie directly.

Frequently asked questions

• Can I still open a Macquarie Online Trading account?

  No, you cannot open a Macquarie Online Trading account. The platform closed to new applications on 22 January 2025 and has now fully transitioned its services to Bell Financial Group.

• How do I log in to my old Macquarie trading account?

  You can no longer log in via Macquarie Online or the Macquarie banking app to see your trading account. Retail clients must now log in at the Bell Direct website, while clients with a financial adviser must log in via the Desktop Broker website.

• Did my brokerage fees change after moving to Bell Direct?

  No, for former Macquarie clients, Bell Direct has maintained the same brokerage fee structure. This includes $19.95 or 0.12% for online trades and $49.95 or 0.30% for phone trades, whichever is greater.

• Can I still use my Macquarie Cash Management Account (CMA)?

  Yes, your Macquarie Cash Management Account was not affected by the trading platform transition. You can continue to use it as your linked settlement account and view it through Macquarie Online and the Macquarie banking app.

• Did my account number change?

  Your account number has stayed the same, but the "MOT" prefix has been removed. For example, if your old account was MOT12345, your new account number is 12345.

• Is Bell Direct CHESS sponsored?

  Yes, Bell Direct is a CHESS-sponsored broker. This means when you buy shares, you have direct legal ownership under your own unique Holder Identification Number (HIN).