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Quicken.com.au to Fight for Australia's Online Trading Market

Quicken.com.au announced major developments to its online share trading service in a bid to challenge Commonwealth Securities (ComSec) for leadership in the online trading market.

As part of the initiative, Quicken.com.au has launched a new low cost trading service known as Quick.Broker provided by Hartley Poynton, one of Australia's leading retail stockbrokers.

Quick.Broker matches the ComSec fees of AUS$29 for online trades up to AUS$10,000, 0.3 per cent for online trades over AUS$10,000, AUS$49 for phone trades up to AUS$10,000 and 0.5 per cent for phone trades over AUS$10,000.

"As more and more people begin to invest in the stock market, they want as much information as possible on which to base sound financial decisions," said Wendy Kerr, marketing manager at Quicken.com.au.

"We believe making this information available to all, irrespective of whether they use us to trade, will bring thousands of lower volume investors -- typically trading at $10,000 or less -- to the site."