Bell Direct launches share trade speed guarantee
Online share trading company Bell Direct has launched a new “placement guarantee” facility for online traders and investors.
The new facility will guarantee customers that any “at market” share trade order will be placed with the Australian Securities Exchange within two seconds, or customers will pay no fee for that trade.
The company is introducing another related innovation called the “eligibility scorecard”, a web page on the Bell Direct website where customers can track the progress and speed of orders.
By checking this web page, customers can see whether their order was placed within the two second guaranteed time, so that the process is transparent.
Bell Direct chief executive Arnie Selvarajah said the introduction of the guarantee was “particularly timely and relevant in light of the recent volatility on the share market that had triggered massive share trading volumes”.
“For active investors and frequent traders even small delays in placing orders are frustrating and potentially very costly.”
Recommended for you
The month of April enjoyed four back-to-back weeks of growth in financial adviser numbers, with this past week seeing a net rise of five.
ASIC has permanently banned a former Perth adviser after he made “materially misleading” statements to induce investors.
The Financial Services and Credit Panel has made a written order to a relevant provider after it gave advice regarding non-concessional contributions.
With the election taking place on Saturday (3 May), Adviser Ratings examines how the two major parties could shape the advice industry in the future.
