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.”