Suncorp launches new online service
Suncorp Metway is set to launch a new service on its existing Internet broking site, which will make the group Queensland's biggest local online broking service.
Suncorp Metway is set to launch a new service on its existing Internet broking site, which will make the group Queensland's biggest local online broking service.
The new service will offer discounted brokerage fees to its own 2.3 million customers while also offering rates designed to attract other share traders.
The service will be sourced through HP JDV (formerly Hartley Poynton Ltd who will be respon-sible for the administration of Suncorp Metway Share Trade, processing all online trading and settlement.
General manager business lines Greg Moynihan says in Queensland one in every two residents are Suncorp Metaway customers and claims the new online broking site has the potential to be-come the biggest of any Queensland-based financial services providers.
“Anyone with a Suncorp Metway product, including a bank account, investment product or in-surance policy, can trade on the site at a price of $23.95 for trades under $15,000, or at a rate of 0.16% for trades over $15,000,” he says.
Moynihan says non-customers would be able to trade at a rate of $28.95 for trades under $15,000 and at 0.19% for trades over $15,000.
He says there are other online brokerage sites in the market, but investors trading on the Internet make a point of looking closely at the sites terms and conditions.
“The constantly evolving nature of the Internet means there are varying degrees of service stan-dards, functionality and security offered by online broking companies,” he says.
Moynihan says investors who trade through Suncorp Metway Share Trade could place their or-ders to buy and sell 24 hours a day.
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