Your selected share trading
Amscot is a financial services company known for providing a variety of investment and trading solutions. Amscot has built a reputation for its customer-centric approach, offering services that range from share trading to managed funds and financial advisory.
Amscot’s platform is designed to cater to both casual and experienced traders, offering online brokerage and phone services that facilitate trading, clearing and settlement needs. Users can access a range of features, including real-time market data and multiple order types such as market and limit orders, which help traders implement their strategies effectively.
Competitive brokerage rates
Independently tailored packages to suit your trading style
Fast, dynamic web-based trading platform
Monthly subscription fee (rebatable)
Not a bank - limited to trading services only
Amscot is a competitive player in the Australian online brokerage landscape, offering some of the lowest trading rates available. The Amscot Trader pricing structure may be particularly attractive for active market participants engaging in larger transactions. Such rates can be significantly higher when using other online brokers.
A notable feature of the Amscot Trader account is its order “bulking” capability. This allows traders to aggregate multiple trades of the same stock within a single day, resulting in one confirmation note for buys and one for sells. This can simplify record-keeping and potentially reduce overall brokerage costs, as fees are calculated based on the total value of the aggregated trades rather than each individual transaction.
Amscot employs the webIRESS system, which provides fast, real-time market data and execution speeds, enhancing the trading experience for users. Their internal handling of trading, clearing, and settlement processes helps maintain lower costs, which can be advantageous for users seeking efficient trading solutions.
However, as with any brokerage, potential users should consider their own trading needs and preferences when evaluating whether Amscot is the right fit for them.
Your selected share trading
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Write a reviewAmscot Stockbroking is the non-advisory division of State One Stockbroking Ltd, which is a fully licensed trading, clearing, and settlement participant of the Australian Securities Exchange Ltd (ASX).
As a full trading, clearing, and settlement participant of the ASX and a trading participant of Chi-X, Amscot offers clients the protection provided by the National Guarantee Fund.
To open an Amscot share trading account, visit their website, complete the application with your personal details and ID, choose your account type, and submit it. Once approved, fund your account to start trading.
The minimum buy order value is $500, excluding brokerage fees, as mandated by ASX rules. A sell order can be placed for as little as one share.
Amscot charges a flat fee or a percentage per trade, whichever is higher. The platform does not charge monthly fees for phone accounts. However, online accounts incur a monthly access fee if clients do not complete at least 15 trades in a month.
While Amscot doesn’t have a specific trading app available, you can access your account and make trades from your mobile and other devices via the online trading platform.
The Perth-based phone desk is staffed from 9:15am to 5:30pm Eastern Standard Time on all trading days.
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