You’ve got questions. We’ve got answers!
This page covers the following:
Fees and Charges
- Are there any monthly fees on my account?
- How are Trader Dealer’s equities brokerage charges different to most brokers?
- What does it cost me to be a client of Trader Dealer?
Funds and CMT Accounts
- How do I deposit funds for my stock trading?
- Which cash management accounts can I use?
- Where can I find out more about Macquarie CMT accounts?
- Where can I find out more about Adelaide CMT accounts?
- Can I use an existing CMT account with Macquarie or Adelaide Bank?
- When I open a new CMT account, where should I send the application form?
- Where are my funds held before I trade?
- How much do I need to open a trading account?
- How long does it take for BPAY funds to clear?
- How do I settle my trades?
- How do I notify Trader Dealer of a change of email or contact details?
- How do I notify Trader Dealer of a change of address?
Trading
- Can I trade for my Super Fund or Family Trust?
- How does the GST affect the products and services provided by Trader Dealer?
- How soon can I begin trading?
- How secure is the Trader Dealer website?
- Are trades covered by the Australian National Guarantee Fund?
- Can I link my account to my Margin Lender?
- How do you calculate my available funds?
- Where can I find out more about Leveraged Equities Margin Lending?
- How do I open an account?
- What types of accounts can I set up?
- Can I authorise someone else to operate on my account?
- Can I change an individual account into a joint account or vice versa?
- If we are opening a Joint account, can we witness each other’s signature on the Sponsorship Form?
- How long after sending in an application will I be able to access the WebIRESS Trading Platform?
- How will I be advised of my password?
- I live overseas, can I trade with Trader Dealer?
- What happens to my stop loss order if the market gaps?
- What is a Contingent order?
- How do I place a "stop loss" order?
- How do I place a "start gain" order?
- Do I receive an account statement for my trades with Trader Dealer?
- Can I receive my contract note in the mail?
- How do I place orders to buy and sell?
- What types of securities can I trade?
- What types of orders do you accept?
- I use an Apple Mac, can I still access the WebIRESS Trading Platform?
- What requirements are necessary to access the WebIRESS Trading Platform?
- Can I trade from any PC if I have already downloaded the software at home?
- How do I log in to the WebIRESS Trading Platform?
- I can’t log in to the Trading Platform, what now?
- What do I do if I forgot my password?
- What happens after I have placed an order?
- How do I place orders outside trading hours?
- Am I able to change or cancel an order?
- How do I find out the status of my order?
- How am I notified of trade executions?
- I get a "Failed" message in my Order Status window - what do I do?
- How does the WebIRESS Trading Platform differ from other internet systems?
- Who provides the pricing and other market information?
- Are your pricing functions real time, live, or dynamic?
- What is CHESS?
- What is sponsorship?
- Am I able to trade certificated shares?
- Can I have two HINs with different brokers?
- Can I sell Issuer Sponsored stock?
- How do I convert Issuer Sponsored stock to CHESS?
- What if the Issuer Sponsored holding is in a slightly different name or address?
- How do I transfer my holdings from another broker?
- Can I just transfer some of my holdings?
- What do I need to do to trade warrants?
- Do you take orders over the phone?
- How many watchlists can I have?
Options Trading
Fees and Charges
Are there any monthly fees on my account?
Monthly fees are incurred if you log in to the WebIRESS Trading platform during the calendar month. This fee is called a Software and Data fee. See the fees and expenses page for more information.
Monthly platform fees are also payable if you have selected the Bourse Web Trader platform. See the fees and expenses page for more information.
How are Trader Dealer’s equities brokerage charges different to most brokers?
Our equities brokerage rates differ from most brokers in that we charge a flat fee of $33* incl GST for every buy or sell contract note issued**. Most brokers charge a flat rate for each order placed or a percentage of traded value.
Trader Dealer’s methodology has the benefit of allowing clients to spread purchases and sales and have them combined onto one contract note**. Active traders save a significant amount of brokerage as result of this methodology.
See the fees and expenses page for a full description.
* up to $200k ** a contract note is issued for either a buy or a sell transaction, and may contain multiple transactions at up to 12 different price levels. A further 12 price levels of transactions are then combined on to a second contract note and so on.What does it cost me to be a client of Trader Dealer?
There are no upfront fees to be a client of Trader Dealer. However there is a minimum of $5000 initial deposit in a nominated Cash Management account to trade equities, warrants and options.
An initial deposit of $5000 is also required to open an ASX CFD Trading Account.
Funds and CMT Accounts
How do I deposit funds for my stock trading?
There are various ways of depositing funds into your nominated Cash Management Account. Most institutions have BPAY facilities and online banking. If you deposit funds by cheque, the funds normally take three business days before they are available to be used for trading. BPAY and online transactions normally take 1-2 business days before funds are available.
Which cash management accounts can I use?
Trader Dealer clients can use one of two cash management accounts through our business relationships with Adelaide Bank and Macquarie Bank.
Where can I find out more about Macquarie CMT accounts?
View the Macquarie Investment Management prospectus or visit the Macquarie Bank website.
Where can I find out more about Adelaide CMT accounts?
View the Adelaide Managed Funds prospectus or visit the Adelaide Bank website.
Can I use an existing CMT account with Macquarie or Adelaide Bank?
It is possible to link some existing Adelaide Managed Funds and Macquarie Investment Management cash management trust accounts to Trader Dealer provided that these accounts have not been opened to trade through other online brokers.
Some online brokers have opened their CMT accounts in a way that is not "portable" in that the accounts are in the brokers name and, as such, are classed as nominee accounts. Accordingly, as the accounts are in the name of the broker Trader Dealer would not be able to access the account for settlement purposes.
If you have an existing account that Trader Dealer would be able to access, you would need to sign two letters (these can be emailed to you), one to authorize Berndale Securities (Trader Dealer’s settlement agent) to access the account for settlement purposes and the other to advise that Trader Dealer is your broker.
It is Trader Dealer’s policy that the CMT account which is linked to the Trader Dealer trading account has only given Trader Dealer/Berndale authorization to access the account.
When I open a new CMT account, where should I send the application form?
All documents should be sent to Trader Dealer as we need to put our stamp and codes on the forms prior to submitting to Adelaide Managed Funds or Macquarie Investment Management in order to ensure that the accounts are linked correctly to Trader Dealer.
Where are my funds held before I trade?
Your funds will be held in a Cash Management Trust account either through Adelaide Bank or Macquarie Bank. Cheque deposits normally take 3 business days before the funds are available for trading, electronic transfers such as BPay are cleared much quicker usually taking 1-2 business days.
How much do I need to open a trading account?
The minimum required balance is $5000.
How long does it take for BPAY funds to clear?
BPAY funds normally clear after 1-2 business days.
How do I settle my trades?
Trades are normally settled after T+3 business days. A direct debit will automatically occur for share purchases, and a credit into the designated cash management account for share sales.
How do I notify Trader Dealer of a change of email or contact details?
All you need to do for a change of email address or telephone/fax contact details is to send Trader Dealer an email at info@traderdealer.com.au advising your account number and the new contact details.
How do I notify Trader Dealer of a change of address?
We require a change of address in writing and signed by all account holders, i.e. joint account will require both parties to sign. This can be faxed to Trader Dealer on (02) 8917 2899.
Trading
Can I trade for my Super Fund or Family Trust?
You can open an account in the name of the trustee(s) with the account designation being the name of the Super Fund, i.e. Individual/Joint account or Corporate account with the account designation, eg <ABC Super Fund A/C> or <ABC Family A/C>.
How does the GST affect the products and services provided by Trader Dealer?
All brokerage, software and data fees are inclusive of the Goods and Services Tax (GST).
How soon can I begin trading?
You may commence trading as soon as you have received your user ID number and password and there are available funds in your cash management account.
How secure is the Trader Dealer website?
The WebIRESS Trading platform uses industry standard 128 bit SSL encryption when passing your login details to the WebIRESS server. Once you are logged in, a 1024 bit session key is used to encrypt the connection between the IRESS data server and the WebIRESS client in your browser. This session key is used to protect all sensitive trade information over the streaming connection.
Are trades covered by the Australian National Guarantee Fund?
View the National Guarantee Fund Information Page for details.
Can I link my account to my Margin Lender?
You can link your trading account to a margin lending account with our approved margin lending provider: Leveraged Equities. You can obtain more details by calling Trader Dealer on 1300 853 856.
How do you calculate my available funds?
To calculate your available funds, simply use the following formula:
- Available funds = Cash at Start of Day x (1.0 - LVR/100)
where LVR is the Loan to Valuation Ratio expressed as a percentage eg. 70%.
Where can I find out more about Leveraged Equities Margin Lending?
To find out more about Leveraged Equities Margin Lending visit the Leveraged Equities website.
How do I open an account?
To trade with Trader Dealer, you will need to complete our application process.
What types of accounts can I set up?
A choice of two account type forms, Individual/Joint Holder or Corporate Client can be downloaded from our applications page.
Can I authorise someone else to operate on my account?
Yes, you must complete the Authorized Agent details in the client application form.
Can I change an individual account into a joint account or vice versa?
It is not possible to change the name of an account once a HIN (Holder ID Number) has been issued by CHESS. You would need to open an account in the name you wish to transfer to and then any holdings can be transferred by completing an off-market transfer form. Note that a charge of $55 (inclusive of GST) applies to any off-market transfer.
If we are opening a Joint account, can we witness each other’s signature on the Sponsorship Form?
No, an independent witness must sign as witness to both signatures.
How long after sending in an application will I be able to access the WebIRESS Trading Platform?
If all documentation has been correctly completed, the application process normally takes 3-4 business days.
How will I be advised of my password?
Once the account has been opened (approximately 48 hours) an email will be sent to you advising the account number and a name and telephone number for you to ring to obtain your password.
I live overseas, can I trade with Trader Dealer?
For residents of most countries this is possible. For US citizens there are Securities Exchange Commission (SEC) restrictions in what overseas shares they are permitted to purchase. You would need to check with the SEC with regard to these restrictions.
What happens to my stop loss order if the market gaps?
If the market price of the security gaps below your stop price, then the contingent order will trigger and will then create a sell order at your specified limit price in the market. For example if you created a stop loss order to sell 1000 ABC @ 400 when ABC reached a last price less than or equal to 450, and the prevailing price gaps from 470 down to 430. A sell order will enter at 400, meaning that it will trade at a price of 400 or better.
What is a Contingent order?
A contingent order facilitates the automatic generation of market orders when specific market conditions are met. For example a contingent order can be created to generate a sell order for 1000 ABC at 500 ($5.00) if/when ABC trades at 501 ($5.01).
Remember that SEATS uses cents in order placement. Follow this link to view the valid price steps.
How do I place a "stop loss" order?
Select "Contingent Orders" from your "Orders" menu and in the new window that pops up click the "+Add" button. A New Order window will appear in which you may place your trigger price and stop limit price. For more information please visit the WebIRESS Contingent Orders help page.
How do I place a "start gain" order?
Similar to a "stop loss" order, select "Contingent Orders" from your "Orders" menu and in the new window that pops up click the "+Add" button. From the New Order window you can place your trigger price and stop limit price.
Do I receive an account statement for my trades with Trader Dealer?
After each trading day, if you bought or sold securities, you will be sent a contract note from Berndale Securities indicating the quantity and price as well as the brokerage of the trade per stock.
Can I receive my contract note in the mail?
No, we only dispatch contract notes by email.
How do I place orders to buy and sell?
There are many ways to place a buy or sell order in the trading platform. The three popular ways are:
- Orders Menu -> "Create Buy Order" or "Create Sell Order" -> type in the stock code
- Quote Window -> right-click on the security code -> choose "Create Buy" or "Create Sell"
- Detail Window -> type the stock code that you want to trade in, press Enter -> right-click on this window -> choose "Create Buy" or "Create Sell"
For more information on placing orders visit the share trading page.
What types of securities can I trade?
You may trade in all ASX listed equities which are CHESS registered. If you have filled out the Warrant Agreement Form you may also trade warrants. Trading in options is available if you have completed the Derivatives Client Agreement. You may also create an account to trade in ASX CFDs.
Trader Dealer does not offer trading in futures, managed funds, foreign exchange or stocks on overseas markets.
What types of orders do you accept?
We will accept buy orders for any volume of stock in which the total dollar value of the trade plus brokerage costs does not exceed your net cash balance. To find your net cash position, select the "Orders" menu and click on the "Order Status" command. Your net cash position will appear in the cash position window.
Placing a sell order is only allowed for stocks that you currently own.
I use an Apple Mac, can I still access the WebIRESS Trading Platform?
Although WebIRESS is a Java application and should run on any platform, using it on a Mac has not been tested and is unsupported.
However you can access the trading platform through Virtual PC if you have it installed.
What requirements are necessary to access the WebIRESS Trading Platform?
WebIRESS has a page detailing the hardware and software requirements.
Can I trade from any PC if I have already downloaded the software at home?
Yes, you can log in from any computer that meets the minimum requirements. The PC can be located anywhere in the world as long as it has an internet connection. However you can only be logged in to the WebIRESS Trading platform from one machine at a time.
How do I log in to the WebIRESS Trading Platform?
To log in, simply type your user ID and password in the boxes labeled "User" and "Password" on the Trader Dealer homepage. Make sure that there are no spaces between each character and that the Caps Lock light on your keyboard is not lit. Passwords are case-sensitive, so make sure you are typing lower case characters.
I can’t log in to the Trading Platform, what now?
Possible Cause: Caps Lock is turned on.
Remedy: Make sure that the Caps Lock light on your keyboard is unlit, as the password is case sensitive.
Possible Cause: Explorer arrives at the WebIRESS homepage.
Remedy: Restart your PC and attempt to log in again.
Possible Cause: "Login licence limit exceeded"
Remedy: You or another user authorized to trade on your behalf from a different machine is currently logged in. Close down all Trader Dealer related programs, and restart the login process.
What do I do if I forgot my password?
Please ring 1300 853 856 to reconfirm your user name and password.
What happens after I have placed an order?
Your order is automatically sent to the market. You can view the progress of your orders in the Order Status command. Order Status gives you the ability to see the day’s transactions in each of your trading accounts. The details of each order you have placed will update as it progresses though the market phases.
How do I place orders outside trading hours?
It is possible to place orders outside trading hours. If you place orders after 5:00 PM, your order will be placed in a queue to be entered into the market during the pre-open period of the following day. You may place contingent orders that will only operate between the market hours (10:00 AM to 4:00 PM).
Am I able to change or cancel an order?
In your "Order Status" window, you may amend or delete existing orders by right clicking your mouse and selecting your desired function.
How do I find out the status of my order?
The status of your order can be found on the "Order Status" window of your trading platform.
How am I notified of trade executions?
To open Traded Orders and view trades:
- Click the Orders menu located on the menu bar at the top of the application
- Click the arrow to the right of the Traded Orders item
- Click the frame that the Traded Orders function is to be displayed in. Note: This function displays best in a horizontal frame
- Click the Account drop-down arrow and select the account
- Click Request
I get a "Failed" message in my Order Status window - what do I do?
When you receive and order status "Failed" message, this means that your order did not reach the market. This could be due to the order price being too far away from the current market. For example, the most common mistake would be to specify stock price in dollar units not in cents, i.e. $1.00 instead of 100 cents etc.
How does the WebIRESS Trading Platform differ from other internet systems?
The WebIRESS Trading Platform, designed by Iress Market Technology is a truly dynamic, browser-based package that allows the user to receive live up to date equity and derivative prices. The trading platform allows the user to have access to the extensive Iress security and dividend database and place orders with the speed of a direct SEATS access. Users can view their portfolios in real time, with gains or losses monitored dynamically.
Who provides the pricing and other market information?
Within the WebIRESS Trading Platform, the user can access real time data and company announcements direct from the ASX, options prices from the AOM and international indices.
Are your pricing functions real time, live, or dynamic?
The WebIRESS Trading Platform is a real time, dynamic trading system that provides up to the second information on all listed securities.
What is CHESS?
CHESS stands for Clearing House Electronic Sub-register System, which provides the central register for electronic transfer of share ownership.
What is sponsorship?
Sponsorship in this context is the ability for the sponsoring broker to hold a client’s financial products (holdings) on their behalf to facilitate quicker execution and faster settlement.
Am I able to trade certificated shares?
No, only CHESS sponsored holdings can be traded with Trader Dealer.
Can I have two HINs with different brokers?
Yes, you can have more than one HIN (Holder ID Number) and be broker sponsored by more than one broker. If you hold stock under a HIN with another broker you would not be able to sell that stock through Trader Dealer.
Can I sell Issuer Sponsored stock?
No, the stock must be converted to your CHESS holdings before you can sell it.
How do I convert Issuer Sponsored stock to CHESS?
You will need to fax Trader Dealer a copy of your Issuer Sponsored statement on (02) 8917 2899 with a request to convert to CHESS.
Note: the Issuer Sponsored holding must be in exactly the same name and address as that of your CHESS Registration details with Trader Dealer.
What if the Issuer Sponsored holding is in a slightly different name or address?
You will need to contact the relevant Share Registry and have them make the necessary changes. When you receive a new Issuer Sponsored statement in the correct name and address, this can then be faxed to Trader Dealer on (02) 8917 2899 for conversion.
How do I transfer my holdings from another broker?
When you open your account with Trader Dealer, it is possible for Trader Dealer to transfer your HIN from your present broker. This means that all holdings under that HIN will be transferred to Berndale Securities (this process could take up to 48 hours). If there are any outstanding orders or settlements with your present broker, the HIN cannot be transferred until all outstanding orders have been settled. You would need to complete the Sponsoring Broker transfer form to effect this transfer. It is preferable for you to provide a copy of one of your CHESS holding statements to ensure that we open the account in exactly the same name and address as your present registration. This will allow a smooth transfer of holdings.
Can I just transfer some of my holdings?
It is possible to transfer selected holdings by using the same form as above and ticking the box marked "Sponsored Holdings of Financial Products listed below" and listing the stocks and quantities you want transferred.
What do I need to do to trade warrants?
You must complete the appropriate section of our account documentation advising that you have read the Explanatory Booklet for Warrants, and understand the risks of trading warrants.
Do you take orders over the phone?
Trader Dealer is an online-only broker, and all trades must be placed by the client through their trading platform. However in exceptional circumstances where the client cannot access their trading platform temporarily, our operators will accept orders by phone.
How many watchlists can I have?
The trading platform can save 20 watchlists by default, and each can contain hundreds of stocks. You can also save unlimited watchlists to your own computer which can be loaded back in to the platform later.
Options Trading
What requirements do I need to buy options?
You must open an equity account and be broker sponsored and have a Macquarie or Adelaide Bank CMT account linked. You must also complete the required Berndale Derivatives Agreement in order to open an options account.
What additional requirements do I need to write options?
As above and you must also sign the Paperless Lodgement Collateral form.
What happens if my option finishes "in the money" at expiry?
All options contracts are exercised automatically if even a fraction of a cent "in the money" and you will be required to pay for the stock by T+2 or deliver the stock to cover by T+2.
What happens if I get assigned on my written option?
Same as above. All options contracts are exercised automatically if even a fraction of a cent "in the money" and you will be required to pay for the stock by T+2 or deliver the stock to cover by T+2.
How do I lodge stock?
You will be required to send an email to Trader Dealer on options@traderdealer.com.au requesting stock to be lodged and advising account number, stock and quantity.
Can I sell stock which is lodged at ACH which is not being used as collateral?
If you wish to sell stock which is lodged with ACH but is not being used as collateral to cover an option position, you will need to send an email as above requesting the stock be withdrawn prior to any sell order being accepted by the system. Once the stock has been withdrawn, a sell order can be placed.
Can I sell stock which is lodged at ACH which is being used a collateral?
It is not possible to enter a sell order for stock which is being used as collateral for an options position. It would be necessary to lodge additional stock or cash before requesting withdrawal of the relevant stock.
How do I withdraw stock?
You will be required to send an email to Trader Dealer on options@traderdealer.com.au requesting the stock to be withdrawn and advising account number, stock and quantity.
What type of option strategies can I do?
Trader Dealer allows clients to buy call and put options as an opening trade as well as allowing the writing of call options against stock specific collateral by way of a covered-call or a buy-write strategy. Clients can then sell calls and puts or buy back written calls to close out open positions.
Can I write calls and puts without lodged collateral?
You cannot write a call option without lodged collateral. Put options cannot be written under any circumstances.
If I sold some shares today, can I use the proceeds to trade options?
Not immediately. Sales of shares are settled after T+3 days while options are settled after T+1 days, where T represents the day of the transaction. Therefore there is a two day lag before you can use these proceeds to trade options.
