New ANZ share trading account (CMC platform)

[PZ99]

I'll be sticking with it for now. The website has a few things it didn't have before.
Full itemised market depth, watch-list live streaming (coupled with 60 second auto-refresh on Firefox ), live chat with quick responses, an accurate P/L screen including brokerage... all up, it was worth it for me and by the time I've ad-blocked half the page it actually works quite well.

Can't comment on the pro platform yet

 

[cropcos]

Have been with CMC for quite a few years and found the platform to be ok, however in the last 6 months or so have had major issues on occasion trying to get buy orders executed/ sent to the market. This happened to me at least 3 times at which point I threw my hand in the air and gave up. Telephone support couldn’t help even though they could see my ‘at market’ order and i simply had to wait, due to their crappy platform having issues. Some cases I got executed after 30 mins, others nothing.

Am now on Amscot stockbroking, and finding it works great so far. Cheaper than cmc @ $9.90 per trade and the platform is htmlIRESS, it’s fairly basic but does the job if all you want is to trade and don’t need all the bells and whistles of commsec. Will track your portfolio live for you like cmc. The platform fee is $11 per month but rebated in full after $80 worth of trades in the month.

https://www.amscot.com.au/

 

[cropcos]

A Macquarie CMA account is established as part of your trading account application, which is used for trade settlement. Amscot don’t provide the linked bank account details to the share registry automatically like cmc do though, so you have to update your financial institution details manually for direct credit of dividends.

 

[willy1111]

A Macquarie CMA account is established as part of your trading account application, which is used for trade settlement. Amscot don’t provide the linked bank account details to the share registry automatically like cmc do though, so you have to update your financial institution details manually for direct credit of dividends.

Once bank details are recorded with the share registry's...do they then apply for all future purchases with same registry?

 

[Lone Wolf]

Amscot don’t provide the linked bank account details to the share registry automatically like cmc do though, so you have to update your financial institution details manually for direct credit of dividends.

Can I ask where you found this information? I can’t find anything about CMC forwarding your bank details to the share registry. I can tell you it doesn’t work for me, unless there’s an option I have to tick in the CMC website somewhere.

I would love it to work from a single hub like that. I hate this system of having to keep multiple share registries updated.

 

[willy1111]

Can I ask where you found this information? I can’t find anything about CMC forwarding your bank details to the share registry. I can tell you it doesn’t work for me, unless there’s an option I have to tick in the CMC website somewhere.

I would love it to work from a single hub like that. I hate this system of having to keep multiple share registries updated.

Most of mine fit within Computershare and Link, then a few with Boardroom and Advanced Share Registry - so probably only around 4.

 

[cropcos]

Once bank details are recorded with the share registry's...do they then apply for all future purchases with same registry?

In my case no, they don’t apply to future purchases. Whilst the financial institution details are saved in the registry, you have to manually select the holdings you want to apply that bank account to each time a new holding is added.

 

[cropcos]

Can I ask where you found this information? I can’t find anything about CMC forwarding your bank details to the share registry. I can tell you it doesn’t work for me, unless there’s an option I have to tick in the CMC website somewhere.

I would love it to work from a single hub like that. I hate this system of having to keep multiple share registries updated.

I’m not sure how/if I activated it, but I can confirm they were definitely doing it. I had a linked bankwest account when I signed up which was set up and managed by cmc.

 

[BoNeZ]

I've added to a couple of holdings since the move and this morning the Net Avg Price on the Profit & loss screen are wrong.

Anyone else noticed problems?

 

[PZ99]

It was never right for me under the old site. "Net Avg Price" is a furphy.

The price really reflects the value of a previously unsold parcel rather than any average.

 

[BoNeZ]

The price really reflects the value of a previously unsold parcel rather than any average.

At closer inspection it looks like it's the total cost (price + brokerage + GST) of the latest trade. In my case I brought 1,000 shares at a TOTAL cost of $9,864.95 and my new "Net Avg Price" is $9.865

 

[BoNeZ]

Also for one trade I received plenty of emails saying the order was accepted, opened, traded and filled but didn't receive a contract / confirmation email. I've downloaded, printed and filed a confirmation note.

My inbox is full of emails except the one I want :-(

 

[peter2]

I placed a buy order on the new CMC platform near the end of market and now two hours after the market closed I still don't know if my order was executed. This is unacceptable.

Checking the trade history my order is "processing".
No emails (accepted, opened, traded, confirmed) at all.

 

[PZ99]

I placed a buy order on the new CMC platform near the end of market and now two hours after the market closed I still don't know if my order was executed. This is unacceptable.

Checking the trade history my order is "processing".
No emails (accepted, opened, traded, confirmed) at all.

My account balance is way out of kilter which is equally unacceptable. A major bank and they can't tell me how much money I have. Curious how discrepancies are always in their favour

What does your "Open Orders" screen say ?

 

[peter2]

Four hours after the market closed I received an Order accepted email.
Open order screen shows order "waiting for market to open".

I entered the order at 4.06 and it shows that it was accepted at 4.23pm. The previous ANZET platform would have placed that order in <1min. I would normally get these into the closing auction.

If this platform can't get my orders into the market and the closing auction within 60sec, it's not worth using.

 

[peter2]

I applied to open a Commsec CDIA account and after eight working days it's still not opened. Clearly the staff are providing services to dead people instead of "live" customers. Meanwhile the board is discussing the size of their executive bonuses.

 

[Boggo]

I applied to open a Commsec CDIA account and after eight working days it's still not opened. Clearly the staff are providing services to dead people instead of "live" customers. Meanwhile the board is discussing the size of their executive bonuses.

I opened one with them about a month ago and they had it sorted out in four days.
That included them calling me to tell me that my forms required a "wet ink" signature instead of the digital signature that I had used which meant I had to print, sign, scan and resend.

They did have most of my details already though as I have a Visa card attached to a Streamline account with them, not sure if that helped.

I know this is no help to you Peter but it sounds like something is not right based on my experience with them.

 

[BoNeZ]

I can't trade today because it's not loading account details and doesn't know my balance.

At least they have a message on the home page.


My CMC account has the same issue so it looks like it's the entire platform and not just ANZ.

 

[Gringotts Bank]

CMC's depth is jumping around to prices from earlier in the day! No point asking CMC about it - they don't reply. I lodged a query about another far more serious matter a week ago, then checked on it again 2 days ago - they just promise they're on it. Incompetent.

 

[BoNeZ]

If this platform can't get my orders into the market and the closing auction within 60sec, it's not worth using.

It feels like they didn't do a lot of stress testing for the number of accounts being added and the volumes in the last couple of days.

Just change CMC to ANZ on every screen and you are ready to go...