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This Financial Services Guide (FSG) provides important information about the services offered by Opentrader Pty Ltd (Opentrader, we, our or us). It is to help you decide if you want to use the Opentrader services.
This FSG provides information about:
Opentrader is a corporate authorised representative (number 001280726) of Openmarkets Australia Ltd (AFSL 246705) (Openmarkets) and is located at Level 40, 225 George St, Sydney NSW 2000. Openmarkets has authorised the distribution of this FSG by Opentrader. You can contact Openmarkets at the above address or on 1300 769 433.
Opentrader is a specialist online platform, providing a trade execution technology platform and general advice for investors.
Opentrader is authorised by Openmarkets to provide dealing and general advice services in relation to:
Our services are provided via web and mobile trading services via the Opentrader trading platform. Transactions entered into using the Opentrader platform are routed to Openmarkets which provides the trade execution and clearing services. These transactions will occur on a securities exchange such as ASX, Cboe Australia or NSX. Openmarkets is a market participant of ASX Limited (ASX), Cboe Australia Pty Ltd (Cboe Australia) and National Stock Exchange of Australia Limited (NSX) and a clearing participant of ASX Clear Pty Ltd (ASX Clear).
For more information on the products and services offered by Opentrader, visit opentrader.com.au
Opentrader acts as your agent in relation to the execution of your orders through Openmarkets. If Opentrader provides general advice to you, we do so as principal.
Opentrader may provide you with products and services from third parties as part of our services. For example, this may include trading technology or software. Opentrader is a wholly owned subsidiary of Openmarkets Group Ltd and corporate authorised representative of Openmarkets. Opentrader does not receive any commissions or other benefits from arranging these services other than as described in this FSG. Opentrader offers its trade execution services under arrangement with Openmarkets.
If we facilitate the use of a particular financial product from a third-party provider we will provide to you that provider’s product disclosure statement (PDS) if required. A PDS outlines everything you need to know about that product including benefits, costs, terms and conditions, as well as any risks associated with holding that product.
This information and any advice contained on our website or any other material provided by us has been prepared without taking into account your personal objectives, financial situations or needs. We only provide factual information or general advice about using our products and services or using the products provided by other licensees. We do not give personal advice, nor accordingly do we issue a Statement of Advice at any time. You should carefully consider the appropriateness of our services with regard to your particular circumstances and consider the appropriateness of our services to your circumstances.
To access our services, you will need to establish an Opentrader trading account and enter into a Client Agreement using the Opentrader website. You should read the terms of the Client Agreement carefully and seek independent legal advice should you have any questions.
You can contact us
You will receive a unique, secure login to access your account on our Opentrader trading platform where you will be able to place orders and transact on the ASX, Cboe Australia and NSX markets. We do not accept email, SMS, post or fax orders.
Before becoming a client, it is essential to understand that trading or investment in any market has risks. While securities and derivatives may offer the potential for gains, the risk of loss in share market trading can also be substantial.
The value of a security or derivative may rise and fall considerably depending on what other people are prepared to pay for a share at the time of a transaction. Such price volatility will depend on many factors, including information about the company, market sentiment, opinions about the country the security or derivative traded in, the prospects for the industry and many other factors. Sometimes companies go bankrupt and investors may lose the entire value of their investment in it. This brief statement does not disclose all of the risks and other significant aspects involved in trading or investing in financial markets.
You should carefully consider whether share or derivative trading or investment suits your needs, taking into account your own specific circumstances.
See Appendix A in this FSG for details of fees that you will be charged for using our services.
Opentrader is remunerated directly by the fees we charge you.
Employees and Directors of Opentrader and Openmarkets receive salaries and may also receive bonuses and other benefits. They may also be entitled to a bonus or other employment benefits based upon performance and achievement of various objectives by both the employee and Opentrader however they do not directly receive any remuneration calculated by reference to the amount of fees or commissions received by Opentrader from you.
Opentrader may receive from third parties, referrals of persons to Opentrader for the purpose of Opentrader providing services. We may pay to the referring third-party a commission of up to 50% of revenue generated by such referrals. Any remuneration received by a third-party is not an additional cost to you nor does it affect the fees we charge.
If a component of our remuneration or benefits are not expressly set out in this FSG, you may request particulars of the remuneration or benefits within a reasonable time after you are given this FSG and before any financial service identified in this guide is provided to you.
As a corporate authorised representative of Openmarkets, Opentrader is covered by Openmarkets’ professional indemnity insurance for compensation which satisfies the requirements of the Corporations Act. This insurance covers compensation for a retail client for loss or damage suffered because of breaches by Opentrader (or by our representatives or employees) of obligations under Chapter 7 of the Corporations Act, including losses caused by misconduct, or for an award of compensation made in favour of that client by our external dispute resolution service.
Our reputation, honesty and high standard of client service are important to us. So that we act with integrity we have a complaints procedure designed to make sure all concerns are treated seriously and that any complaint is addressed promptly and fairly.
If our level of service should fail to meet with expectations, we would like to hear about it. Any complaint about your dealings with Opentrader or associated products or services should be communicated to our Complaints Officer:
If, after giving the Complaints Officer the opportunity to resolve your complaint, you are not satisfied, you may lodge a complaint with Australian Financial Complaints Authority (AFCA) for an independent review of your matter:
AFCA can assist you as a client in resolving your complaint where you have been unable to do so with us. However, it is important that you contact us in the first instance so we can address your concerns as best we can. Please refer to the AFCA website for more information.
The fees outlined in this Appendix relate directly to the Opentrader financial services and apply to trading accounts that have been funded as at the publish date at the top of this web page. All fees and charges are inclusive of GST unless otherwise stated.
|Trade execution||Charge (including GST)|
|Equities, ETPs and Warrants (Australian residents)|
$10.00 for transaction value of $0.01-$10,000
0.10% of trades for transaction value over $10,000
|Exchange-traded options (ETOs)||$28.00 or 0.28% per trade, exercise or assignment|
Opentrader is committed to keeping fees to a minimum, however sometimes extra fees will apply for additional services as outlined below.
|Fee type||Charge (including GST)||When is it payable?|
|Account opening for foreign residents||$200 per account||Fee charged to open an account for foreign residents.|
|ASX Clear options exercise fee||Variable||For options contracts, ASX charges a registration fee, and if you exercise or are assigned on an equity option position, ASX charges an exercise fee. We pass these costs onto you. These fees are set out on your trade confirmation or statement, and you may request from us particulars of the fee that apply at the time of a transaction.|
|ASX stock fail fee||$100 per security (up to $1m trade value); 0.1% of trade value thereafter.||Charged by the ASX when stock has failed to be delivered to the market.|
|ETC & OMEGO bookings||$2 per booking||Specialised post-trade services pertaining to settlement to a custodian, where the custodian requires trade information via an ETC or OMEGO booking.|
|International telegraphic transfer||$100 per transaction||When you request that we pay funds into an international bank account in your name.|
|IPO settlement handling fee||$33 per transaction||Fee charged for each settlement of an IPO transaction.|
|Manual bookings||$35 per booking||Any trade requests that require manual placement, such as bulk uploads|
|Off-market transfer||$27.50 per transfer||If you wish to transfer securities between other entities and your Opentrader CHESS account. These fees will not apply to security transfers when establishing your trading account|
|One-off sale||$200 per trade (up to $15,000) or 1.5% of trade value||Charged when you request to sell an Issuer Sponsored listed security (and not a broker). Identified by a SRN which begins with “I”|
|Phone surcharge||$75 per trade||When you make a phone request for us to place a trade on your behalf.|
|RTGS (Real Time Gross Settlement) payment||$55 per transfer||Fee charged when an instantaneous funds transfer of money is made upon request.|
|Settlement fail||$110 per day or 0.1% (whichever is greater)||If you do not settle a trade or supply holder information by the required time, fail fees will be charged to your account.|
|Statement fee||$20 per statement||Fee to generate a Financial Year Trading Report upon request|
|Stock loan fee||$250 per stock||For settlement purposes where you do not hold the stock to facilitate settlement.|
|SRN or HIN query||$27.50 per search||Upon request to look up the details of a sponsoring broker of a HIN or look up a Securities Reference Number.|
|Trade rebooking||$13.95 per transaction||When a trade needs to be re-booked to a different account.|