Financial services guide

Last updated 1 February 2022

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You're welcome to download our financial services guide here as a pdf, or read below. The power is yours. 

General information

1. About this financial services guide

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:

  • who we are and our contact details;
  • our products, services and their associated costs;
  • any relationships we have with third parties that might influence us in providing our services;
  • how we, our staff and other related parties are remunerated and any other benefits we might receive;
  • how we collect and use your personal information;
  • other documents you may receive from us and how you may provide us instructions; and
  • details of our complaints-handling process.

2. About Opentrader and our services

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:

  • Securities
  • Managed investment schemes
  • Bonds
  • Derivatives such as Exchange Traded Options (ETOs)
  • Deposit products (eg. bank accounts)

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

Relationships

3. Capacity in which opentrader acts

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.

4. Associations with product providers

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.

5. Other documents we may send you

Execution services

You will receive our Client Agreement, which will contain more information relating to the services provided by Opentrader and the terms and conditions of those services. If you open a trading account, we will also arrange for you to receive documents from Openmarkets relating to the trading services including the Openmarkets FSG, terms of trade, best execution policy and privacy policy. If you transact in Options, you will need to enter a Derivatives Client Agreement with Openmarkets and you will be provided with an ETO Product Disclosure Statement. The ETO Product Disclosure Statement will contain important information regarding trading ETOs.

Third-party products

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.

Other documents

We may provide other documents or information to you, including electronically, from time to time about our services or which we are required to give you including, for example, our Privacy Policy.

6. No personal advice

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.

Using our services

7. How to use our services and transact

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.

8. What you should know about the risks of trading and investing

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.

How we are remunerated

9. Fees payable for our service

See Appendix A in this FSG for details of fees that you will be charged for using our services.

10. Remuneration and other benefits we receive

Opentrader is remunerated directly by the fees we charge you.

11. Representatives’ remuneration

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.

12. Referrals

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.

Safeguards

13. Personal information

The privacy of your personal information is important to us and any information we collect from you will be handled in accordance with our Privacy Policy available on our website. This Policy details how we comply with the requirements of the Privacy Act regarding the handling of your personal information.

14. Professional indemnity insurance

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.

15. Dispute resolution process

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.

Appendix A – Fees and charges

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.

Brokerage on listed securities and options 

Trade executionCharge (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
  1. Fees are charged by transaction as set out in the relevant trade confirmation issued by Opentrader. If a transaction is incomplete and the balance is completed subsequently with a subsequent trade confirmation, the fees will also apply to that subsequent trade confirmation. The cost of your transaction will be disclosed on your trade confirmation.
  2. 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. Opentrader will pass these costs onto you. These fees are set out on your trade confirmation or statement and you may request from Opentrader particulars of the fee that apply at the time of a transaction
  3. If you are a referred to Opentrader by a referral partner of Opentrader or Openmarkets (Referral Partner), Openmarkets as executing broker (as described in paragraph 3 of this FSG) will pay to the Referral Partner a referral fee being a portion of the brokerage set out in the table above (Referral Fee). You pay the portion of brokerage representing the Referral Fee to Openmarkets directly as principal under the terms of trading of Openmarkets and as disclosed as a Referral Partner Fee in the Openmarkets FSG.  If your Opentrader account is the subject of a Referral Partner arrangement, the portion of brokerage will be agreed between Openmarkets and the Referral Partner and disclosed to you by Opentrader, Openmarkets or the Referral Partner.
  4. From time-to-time Opentrader may conduct promotional campaigns or engage with customers and apply fees that are lower than stated in this FSG. If a lower fee applies, Opentrader may inform you by applying the lower rate to your trading account.

Other fees and charges

Opentrader is committed to keeping fees to a minimum, however sometimes extra fees will apply for additional services as outlined below.

Fee typeCharge (including GST)When is it payable?
Account opening for foreign residents$200 per accountFee charged to open an account for foreign residents.
ASX Clear options exercise feeVariableFor 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 bookingSpecialised 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 transactionWhen you request that we pay funds into an international bank account in your name.
IPO settlement handling fee$33 per transactionFee charged for each settlement of an IPO transaction.
Manual bookings$35 per bookingAny trade requests that require manual placement, such as bulk uploads
Off-market transfer$27.50 per transferIf 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 valueCharged 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 tradeWhen you make a phone request for us to place a trade on your behalf.
RTGS (Real Time Gross Settlement) payment$55 per transferFee 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 statementFee to generate a Financial Year Trading Report upon request
Stock loan fee$250 per stockFor settlement purposes where you do not hold the stock to facilitate settlement.
SRN or HIN query$27.50 per searchUpon 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 transactionWhen a trade needs to be re-booked to a different account.