Minc Online Share Trading
Minc enables clients to execute share and warrant orders on the ASX using true "straight through processing" technology.
What you get for $33
For a fixed cost of $33 per confirmation (GST inc), you can spread your orders in a particular stock out over the day and, provided your executions are within 12 different prices and up to $200,000, we will aggregate the share trades at the end of the day into one confirmation for the low price of $33 (incl GST).
For share trades that are over $200,000 and you have more than 12 price lines, see our Fees page.
What you get for $13.95
A rate of $13.95 (incl. GST) per confirmation for trades up to the value of $13,950. Trades valued greater than $13,950 are charged at 0.11%
What you get with webIRESS
webIRESS share trading platform allows the investor to:
· access live, dynamic market data
· use extensive charting technology
· ultimately execute their own orders direct into the market
See the webIRESS page for details.
Professional trading speed
The speed at which orders are transacted gives you the ability to trade on a level playing field with stockbrokers themselves!
Minc works for the average Aussie investor
Today, more Australians than ever before are investing in shares. Some of the reasons why are:
· The sharemarket has offered better long-term results than most other investments.
· Unlike property you do not need a large deposit - and you don’t have to pay stamp duty or legal fees.
· You can usually sell shares and access your money in a few days.
· You can start investing with as little as $500, plus brokerage & GST
Easy steps to start trading with Minc
Getting started:
1. Fill in the online application
· Print, read, sign and post the forms to the address on the Checklist page
· Allowing for postage delivery time, you will be able to trade on your account in 3-5 days
2. Ring 1300 88 77 20 for our help line
Placing an order is easy with Minc's webIRESS share trading software
Once you have:
· had your application approved
· transferred any CHESS or Issuer Sponsored holdings
· cleared funds in your nominated Cash Management Account
...placing an order to buy or sell shares is easy.
Minc Protection Filters
Minc’s webIRESS share trading software also contains order vetting filters which protect you from:
· placing incorrect orders, for example entering the wrong share price in the order
· making an unfunded buy order. You can only place a buy order when you have sufficient cleared funds in your nominated Cash Management Trust account, funds from a previous sell trade, or with an approved margin lender.
· Similarly, a sell order can only be made for stock that you currently hold on CHESS or with an approved margin lender
The process by which these details are checked is known as order vetting and is automatically performed by webIRESS share trading platform.
Security for you - Straight Through Processing of your orders
Once the order passes through these filters, it is automatically placed directly into the Stock Exchange’s Integrated Trading System (ITS).
This occurs in real time and without manual intervention by Minc. Of course, orders can later be amended by you or removed at your discretion.
Saving you money - Aggregated stock orders
On completion of ASX trading each day, your trades in each stock will be aggregated and booked at an average price.
You will receive notification of your share trades via an electronic confirmation which will be emailed to you.
The confirmation will detail the costs, type and quantity of shares traded (brokerage charges will apply per confirmation, not per order).
The confirmation serves as your official trade record.
Your available cash and holdings are automatically adjusted on the share trading platform to take into account any buys and sells.
Trade Settlement
From here the trade is settled on trade date plus three ASX settlement days, (usually three business days) automatically with your Cash Management Trust account or your margin lender.