Why E*TRADE Australia is no more
ANZ's decision to dump the brand shows how much the world has changed since 1998.
So this makes me feel old: ANZ this week announced that it was retiring the E*TRADE Australia brand for its online share trading service. From now on, it will be known instead as ANZ Share Investing.
I was working as a journalist when E*TRADE Australia launched way back in 1998. It wasn't a subsidiary of the original E*TRADE Financial, which started in the US, but had licensed the brand for Australian operations. (Eventually, E*TRADE Financial bought a stake in the company when it listed on the ASX, but it was never a majority shareholder.)
The online world was a lot more basic back then, as you can see from the screenshot from the original E*TRADE Australia site above. The majority of people were using dial-up connections. Virtually no-one was running apps on their phones (other than Snake). The hot Australian tech stocks were long-forgotten entities like Hotdog and Solution 6.
Read more: Best online share trading platforms
At that moment, the notion of buying and selling shares directly, without needing a broker or having to pay huge fees, and with a guarantee that the trades would processed quickly, seemed very exciting. Trading online was the future, and it would disrupt every major brand in the sector, we thought.
Trading online did indeed prove to be both the future of share investment and a massively disruptive influence. But the Big Four banks and others were ready to react to that disruption, and after the dot com "bubble" burst, they reasserted their control. ANZ eventually took over E*TRADE Australia in 2007.
Now it has concluded that there's more value in having its own brand front and centre than continuing to license the brand name from E*TRADE's parent company. "ANZ has a strong brand that is widely recognised and trusted among our customers, so it makes sense to move this platform under that banner," managing director for pensions and investments Peter Mullin explained.
Branding aside, the most notable shift is this: online share trading is cheaper than ever. When E*TRADE launched in 1998, it charged a minimum of $39.50 per trade. If that fee had risen in line with inflation, by 2015 it would have been $63.80.
Instead, the current rate for trades on ANZ Share Investing up to $5000 in value is just $19.95. Rival banks charge at similar levels. Succeeding in share market investment still requires careful planning and an appetite for risk, but it's nowhere near as expensive as it used to be. We're living in the e-trade era, even if the brand itself is disappearing.
Angus Kidman's Findings column looks at new developments and research that help you save money, make wise decisions and enjoy your life more. It appears Monday through Friday on finder.com.au.
I have had account with Etrade since it started in Australia I forgot all access but I have funds in there how do I get them back1998
Hi Michael,
We’re unable to provide personal customer service as we’re a review and comparison site, you’ll need to contact ETrade directly for this.
How do I log into my old e-trade account now it is ANZ. I no my old id and password
Hi Bryan,
Thanks for your inquiry.
Sine E*TRADE Australia has already been stopped and is now replaced by ANZ Share Investing. If you are looking to access your ETrade account, please contact ANZ directly for instructions on how to do it exactly.
I hope this helps.
Kind regards,
Bella
I use to use E-trade to buy and sell shares for my Self Managed Super Fund. How can this now be done with ANZ Share Investing?
Hi Geoff,
Thank you for getting in touch with Finder.
You need to visit the ANZ Share Investing page or speak to an ANZ Share Investing representative over the phone to discuss how you can manage your SMSF investments using ANZ Share Investing.
I hope this helps.
Thank you and have a wonderful day!
Cheers,
Jeni
I used to have an E-Trade (Australia) account back in approx 2008. It has lay dormant ever since (long story), how can I access account again now ?
Hi Adrian,
Thanks for leaving a question on Finder.
The E*TRADE Australia has already been stopped and is now replaced by ANZ Share Investing. If you are looking to access your ETrade account, please contact ANZ directly for instructions on how to do it exactly.
In the meantime, you can also compare your share trading platform options through our website.
Cheers,
Joel
I HAVE AN ACCOUNT WITH ETRADE AUSTRALIA THAT ID LIKE TO ACCESS SO I CAN UPDATE MY PORTFOLIO.
NOT SURE HOW TO DO THIS
Hello Maureen,
Thanks for leaving a question on Finder.
The E*TRADE Australia has already been stopped and is now replaced by ANZ Share Investing. If you are looking to access your E*TRADE account, please contact ANZ directly for instructions on how to do it exactly.
Cheers,
Joel