Margin Loans with Macquarie Prime?

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Hi,
Just wanted to know if anyone out there uses Macquarie Prime for Margin lending. I am a newbie to serious investing but have been investing in the stock market for years, and made some decent profits so I thought I would venture into negative gearing, long term though. Macquarie Prime seems superior to Commsec margin lending but obviously more complex for a newbie. Also appears to be for much bigger investors as I am only looking at a credit limit of maybe $20K. I was wondering if anyone could tell me how they have found Macquarie Prime and any traps a newbie might not be aware of (apart from those inherent in Margin lending of course).
Thanks in advance!

 

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Re: Margin Loans - Macquarie?

Think MP are fine.

But you may consider IB Interactive Brokers.
With $20kAU your just over the minimum limit.

They offer $6 in and out for trades less than $10,000
so cheap
Margin is 4:1 during the day and 2:1 if held overnight.

Its a pretty long winded application process for an account but when operational has one of the best platforms around.

I and many here use IB.

 

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Re: Margin Loans - Macquarie?

Thanks I'll check them out.
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