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The main catch with NAB's offer is that new customers must use their 20 trades within 90 days of account creation.
Customers could also get free access to wise-owl.com for three months, which offers traders company insights, real-time recommendations, one-on-one consultations with analysts and advisers, IPO reports, and more.
Ordinarily, NABTrade's fee structure per trade is:
- $14.95 up to $5,000
- $19.95 up to $20,000
- 0.11% over $20,000
According to bargain-hunting and voucher code website OzBargain, new customers must enter the code '20FREE90' on sign-up to obtain the offer.
Share trading platforms compared
NABTrade's fees are comparable with other online share trading platforms from the 'big four' banks,
- CommSec (Commonwealth Bank share trading): $10 on the first $1,000; $19.95 up to $10,000; $29.95 up to $25,000 and 0.12% over $25,000.
- Westpac: $19.95 or 0.11% trade value (whichever is greater)
- ANZ: $19.95 up to $5,000; $24.95 up to $10,000; $29.95 up to $18,000; $29.95 up to $28,000; 0.11% over $28,000, with discounts on some brackets if you make more than one trade in a month.
Source: Providers' websites. Prices were correct at the time of writing, and may be subject to change.
Note that having a third party bank account as the settlement account for these platforms could see you attract a higher brokerage fee.
For example, not using Westpac's Cash Investment Account or Investment Loan Account as your settlement account could see you charged a higher brokerage of $29.95 or 0.29% (whichever is greater).
Outside the Big 4, other share trading platforms' fees are:
- CMC Markets: $9.90 up to $5,000; $10 up to $10,000; $20 up to $20,000; $50 up to $50,000
- OpenMarkets: $13.95 up to $19,930 trade value, or 0.07% above $19,930.
- SelfWealth offers a $9.50 flat rate on trade sizes from $5,000 up to $1,000,000.
Source: Providers' websites. Prices were correct at the time of writing, and may be subject to change.
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