Available on mobile and tablet devices on both Android and IOS platforms, the ThinkMarkets share trading app, known as ThinkTrader, lets you trade Australian-listed shares and ETFs at minimal cost. Brokerage fees come in at $8 for trades up to $200,000 and 0.05% on higher amounts.
You’ll also be able to take advantage of cloud-based alerts and triggers to make sure you don’t miss out on any trading opportunities even when you're logged out of your account.
ThinkMarkets is among the cheaper share trading platforms in Australia, charging $8 brokerage on trades up to $200,000 and 0.05% on trades above $200,000. It's easy to navigate app allows you to trade Australian-listed shares and ETFs on the ASX and Chi-X, however there is no option to trade international shares.
Overall, fees have been kept to a minimum. There is no account opening fee or subscription fee, and you won’t be charged when transferring any existing holdings to ThinkMarkets. There is also no minimum balance for your cash account and no minimum number of trades you’ll need to execute per month.
To open an account, download the ThinkMarkets app on your smartphone or tablet (a web trading platform is in the works and will be released soon). You’ll need to provide a few supporting documents, such as photo ID and proof of residence. Applications are typically processed in a few minutes, but you might have to wait up to 24 hours if further verification is required.
If you have a query or find yourself in a bind, 24-hour email and live chat support is available from Monday to Friday. You can also call ThinkMarkets during business hours (9am to 6pm AEST).
The ThinkMarkets share trading platform would suit those after an app-based service that keeps brokerage costs and other fees low.
While there is no account opening or subscription fee, you might encounter a few other costs when using ThinkMarkets. This includes an off market transfer fee of $27.50 per security, a rebooking fee of $27.50, and a failed trade settlement of at least $55. Live price data is also available as an optional feature, however it will cost $22 per month.
This product is not currently reviewed.