Macquarie Edge Online Broker?

[bloomy88]

Saw that Macquarie has brought out an online broker...

Has anyone opened an account with them yet? Is the analysis given any good or do they only give you crap and want you upgrade to a subscription that costs you money?

I was thinking about opening an account purely for using their research, the brokerage on commsec is still cheaper...

 

[shortlist]

Re: Macquarie Edge Online Broker

Saw that Macquarie has brought out an online broker...

Has anyone opened an account with them yet? Is the analysis given any good or do they only give you crap and want you upgrade to a subscription that costs you money?

I was thinking about opening an account purely for using their research, the brokerage on commsec is still cheaper...

I'm looking into setting up a Macquarie Prime account with them - is this the same thing? Their online application form has just started asking me to select what my "risk amount" is and gives me multiple choice of $250,000 all the way up to over a million but there is no explanation as to exactly what this refers to - anyone help me out?

I recently aborted an application for Westpac's online broking for various reasons and Mac Prime was recommended to me by a poster on this here website - so far so good by the way - their customer service is better than Westpac's and their website looks better as well. Westpac's online trading platform looks like something out of 1995.

 

[snowking]

Re: Macquarie Edge Online Broker

Saw that Macquarie has brought out an online broker...

Has anyone opened an account with them yet? Is the analysis given any good or do they only give you crap and want you upgrade to a subscription that costs you money?

I was thinking about opening an account purely for using their research, the brokerage on commsec is still cheaper...

may as well open up an account and check out the research given that you can get two months free research for any accounts opened up by christmas time i think it is

 

[bloomy88]

Re: Macquarie Edge Online Broker

may as well open up an account and check out the research given that you can get two months free research for any accounts opened up by christmas time i think it is

yeah i joined up and got the free research, it's pretty good but not particularly detailed. Usually costs $75 a month for the research though.
Always worth getting another opinion...

 

[MITCH027]

Re: Macquarie Edge Online Broker

Does anyone know if macquarie edge allows for conditional orders / stoploss / trailing?

 

[Aussiest]

Re: Macquarie Edge Online Broker

I'm looking into setting up a Macquarie Prime account with them - is this the same thing? Their online application form has just started asking me to select what my "risk amount" is and gives me multiple choice of $250,000 all the way up to over a million but there is no explanation as to exactly what this refers to - anyone help me out?

I recently aborted an application for Westpac's online broking for various reasons and Mac Prime was recommended to me by a poster on this here website - so far so good by the way - their customer service is better than Westpac's and their website looks better as well. Westpac's online trading platform looks like something out of 1995.

I've never had a problem with Mac's platform. It was down once, but they had it resolved within 1/2 hour. I thought their brokerage + cheaper than Commsec?

"Risk Limit" = how much leverage you're able to take out. Leverage = borrowed money, borrowed against your current holdings to buy new shares. I'd be careful of this though, it can lead to a "margin call" if value of shares decreases to near or below the $ they lend you. Google "margin call".

Oh yeah, free stop losses on all orders with MPrime as far as i know

 

[freebird54]

Re: Macquarie Edge Online Broker

Wake up Guys

Cheap or free research is exactly that

I was with them when they took over Hartleys - they put me into a lot of rubbish IPO's [Games r us, Prospex interactive] for example and churned my stock/options often - thus they became the "millionaires factory" - they get paid regardless and would not the best IPO's be kept for their mates?

Paid for research/tip sheets such as Eureka/Rivkin/Huntley/Intelligent investor et al give value for money [My profits on Rights/takeover/cap raising/arbitrage plays have paid for my subscription many times over on Rivkin alone]

I have Westpac/Commsec and Rivkin broking a/c [for multiple applications]

But Happy with interactive brokers as long as they keep improving, $3 option and $6 share brokerage, and excellent free trading platforms and accounting reports [Never have to file dividend or any other notices anymore - they do it all] why would you not?

 

[BrightGreenGlow]

Macquarie Edge??

Hey guys,

Does anyone use ME as a broker? If so what are the pros and cons?

I currently use Commsec.

Thanks in advance!

 

[pixel]

Re: Macquarie Edge??

Hey guys,

Does anyone use ME as a broker? If so what are the pros and cons?

I currently use Commsec.

Thanks in advance!

I meant to ask the same question; running a "Search" told me there was already a topic.
Peculiar, that nobody has replied yet.

I left two messages at MacQ's website, several weeks apart. Maybe they're still in holiday mode, but I hate to tell you: getting no response when you use their website to ask questions does not make the best impression.

There are three main reasons why I considered Macquarie Edge -

1. I have a CMA with MacQ and am quite happy with their reporting, reliability, and rates. Which raised Q1: Can I link a ME Broking account directly to a MacQ CMA?
2. The account I consider transferring to ME is currently with Westpac; execution is generally quite reliable, but the restrictions when if comes to thinly-traded stocks or options are wayyy over the top. One of my shares held by them has moved from ASX listing to NSX, which leaves me no way to trade it. MacQ do trade the NSX - but does that option extend to ME clients? And are there extra costs involved?
3. Westpac's account reporting sucks, no other way to describe it. Reconciliation of banking transactions and trade contract notes is a nightmare, which has already cost me $100+ in charges that I discovered too late to have reversed. How does ME's account reconciliation measure up?

If anybody feels uncomfortable to reply in public, by all means send me a PM. I really would like to get an impartial opinion before deciding to switch.

 

[pixel]

Still no reaction so I rang them.

Answers: No and No.
Can't trade NSX online - would need an a/c with their Full-Service Broking arm.
And ME needs a dedicated (low-interest) account, which can be linked to a CMA.

Falls well short of my needs - so, I'll stay where I am right now. Maybe Westpac step up to the mark and offer NSX trades ... "one of these days" ...