12 November 2012
nabtrade has today announced a new online brokerage rate for its customers of $14.95 per trade for amounts under $10,000, the lowest of all the major banks.
This means the average nabtrade customer who trades under the headline rate will save 25% on brokerage each year compared to the customers of our major bank competitors.
nabtrade General Manager Nathan Walsh said the introduction of the lowest brokerage rate of the major banks marks the official launch of the country’s newest online trading platform. Combined with the platform’s key features and its commitment to continuous improvement, the new rate shows nabtrade is serious about attracting more customers.
“When nabtrade launched, we delivered to customers an innovative new platform with significantly more tools and research than our competitors,” Mr Walsh said.
“But we don’t want to stop there. While our customers are already getting more bang for their buck with innovative functionality and a data-rich experience, we’re also cutting brokerage to give them the lowest online rate of all the major banks – from $14.95 per trade. For investors who make larger trades, nabtrade again offers a competitive rate of 0.11%.”
The new $14.95 rate is supported by an ultra competitive cash management account, with a rate of 4.5% on balances up to $1 million, and a leading variable margin loan rate of below 8% for all balances.
Mr Wash added: “Online trading is growing in popularity thanks to the rise of self-directed investors including those with self-managed super funds, which is the largest and fastest-growing segment in superannuation in Australia. nabtrade is well positioned to meet this significant demand.”
More than 140,000 customers and $7.8 billion in client assets have now been transferred from NAB OnLine Trading to nabtrade since the platform went live in September.
Mr Walsh said the migration of nabtrade’s clients to the new platform was the second-largest migration in Australian Stock Exchange history.
“Our first priority was moving our existing NAB OnLine Trading customers to the new platform,” he said. “Throughout this process, we’ve been talking to clients and listening to their comments about nabtrade. The beauty of such new technology, built from the ground up, is our ability to act very quickly on customer feedback.
“For example, based on customer feedback, we were able to swiftly redesign and relaunch nabtrade’s Watchlist, which allows traders to collate the stocks that they’re watching, to add more functionality. We will keep listening to our customers to continually enhance their trading experience as their needs grow.”
Key features of the platform include:
- More than six times more research and recommendations than competitors.
nabtrade provides research recommendations on more than 1,500 ASX listed companies. Providers include NAB Wholesale, Morningstar and methodologies from US award winners Columbine Capital and Ativo.
- Innovative online-trading tools.
nabtrade offers clients a range of innovative trading tools. These include ResearchTeamTM, which consolidates multiple recommendations and weights them according to their historical performance, and Smart Text, which interprets complex data to provide instant analysis.
- Seamless integration with NAB internet banking.
Customers can see all their NAB holdings in one place as well as those they input from other organisations. NAB customers can open a nabtrade account electronically, with same-day set up and the ability to move cash in real-time between linked NAB accounts and nabtrade.
- Price competitive.
nabtrade has the lowest brokerage rate of the major banks and among the most competitive margin lending and cash management account rates
+61 477 320 333