Not for active traders. Casual ok. Premium price, low quality.
So I'm originally an ANZ customer. I decided to get into trading and picked ANZ share trading pro to start of. It didn't last 4 days.
Every day the system is unresponsive from opening and closing times. For an active trader that could mean serious losses or missed opportunities which is exactly what happened. Then I'm expected to pay such a high premium fee which goes up as you invest more. No good for active traders who want to profit on multiple small gains.
But as a casual trader for 1 or 2 trades max a week or month, the system is convenient if your bank accounts are already with ANZ. I would recommend it in this case.
Looks like I'll have to look elsewhere as I'd like the ability to log in any time.
I have been with ANZ for decades and was reasonably satisfied with the investing service when it was on the eTrade platform. Since they moved to the CMC Markets platform we have had nothing but trouble. Often on days like today when trading volume is high we are unable to access the website at all to read reports or make trades, it just stops at the loading stage.
In addition, as we have US investment holdings there are often problems with the profit and loss report where for random US stocks the day gain is incorrectly shown as the total mark...et value for that stock substantially distorting total day gains (sometimes I am euphoric to see $50000 gains on market opening just to realise I have to check the US stocks and find that there are no such large gains just errors on the report - I think there is an anomaly in the reporting code where there is no price movement on the stock. Other days I see major losses on my portfolio only to realise that some or all of the US stocks are showing at a Nil value. I have reported this to ANZ - at first they told me I didnt understand the reports and how they worked (which is funny considering I am a Chartered Accountant with 30 years of experience in Auditing SMSF and their shareholdings) - then they acknowledged there was a glitch but of course nothing has changed. More recently I have notice that the Profit & Loss Report is not continually updating values and totals (some values may update but the totals seem to stay the same - the only way to get the updated totals is to log out and log in again or download the report (usually in CSV) to get the updated totals. I just wonder if the head honchos at ANZ actually understand the frustration and anger that their company is engendering as all feedback on Investing and on the banking/credit card system as well (which isn't a great deal better regarding service) seems to be diverted to overseas teams. In summary, the systems and service from ANZ Investing are substantially below what I would expect from a Top 100 Australian company.
- Verified customer
The platform can display inaccurate data and mislead you
CMC Markets a publicly listed UK-based company that offers online shares trading across the world lost at a minimum hundreds of thousands of dollar after a share consolidation on 23 April 2020 of 1:10 to 1:5 went wrong and was therefore inaccurately reflected on its trading platform . As a result many Bona fide retail traders took some positions ( buy or sell ) based on inaccurate data and ended up owning 10 to 5 times more shares than they were entitled to .For those who traded on that day and realised some huge profits the company is now sui...ng them by referring to its terms and conditions to recoup the lost . It would be good to raise the negligence of CMC markets who did not take the relevant steps to prevent this misinformation and blame the company for taking too long to spot and resolve the matter.CMC Markets who was aware of the upcoming consolidation failed to prevent its adverse effect . By the time it reacted it was too late since some customers had already withdrawn and distributed their profits. With the boom of online trading this is an opportunity to invite all retail traders to more vigilance.
Absolutely ridiculous. Customer service is atrocious.
I would allocate a zero star rating if it was possible.
The online platform is clunky and does not offer an easy to navigate UI offered by compeititors.
Customer service team are slow to respond. It is impossible to close an account with ANZ Share Investing - fill in paper form (electronic pdf fill form not accepted) and provide personal identification. I was an ANZ customer and didn't have to do either when closing my accounts. Absolutely ridiculous. Waste of time. My account will sit active because I refuse to provide personal identification to close an account.
Worst share trading platform for reliability
Platform continually crashed and cant be relied upon for share trading
On Friday 11th Sep 2020, platform has been completely down for over 20 mins. Just not good enough. Definitely the worst of the big 4 platforms and well behind specialist service offerings. Don't bother.
If you are in it, "LEAVE"
I joined a week ago, everytime I make a change with anything, it takes 1 to 2 days to happen, like add another account so I can access my cash, buying or selling shares, balances, so frustrating, I sold all my shares I had, at a loss just to stop using there stupid platform. I rang for help, I was waiting 58 minutes before I got to talk to somebody. I have opened a st George direct shares account, much better, much faster and no going through crap to add accounts.
Slow service, expensive commissions
I tried to buy some American stocks on ANZ share investing platform, to do this I also submitted the American W-8BEN form to ANZ share investing. Their service was extremely slow, took more than 1 week for their lazy, incompetent team to process this simple W-8BEN form. You know American stocks were rising very quickly in November and December 2019, so ANZ's delay potentially made me miss out thousands of bucks profit!!! ANZ share investing's commission fee for international stocks is one of the most expensive, much more expensive than CommSec etc. If you want to make real money from stocks, stay away from ANZ!
- Verified customer
Appalling Customer Service
I have been trying to get ANZ Share investing to close an account for nearly two months now, and update other account details for a month. No progress at all on either of these two very simple requests. You ring up to find out what you need to do, you do exactly what they tell you – and then when nothing happens and you ring to find out why, they say you have to do something completely different. Every time you ring you’ll be put on hold for a minimum of 30 minutes (during the shambolic transition from the Etrade platform it was often an hour...– and then they’d cut you off) then be shunted from one section to another, and finally someone will fob you off by telling you your request will be ‘escalated’. This is rubbish – nothing gets escalated at ANZ. I wasted hours making numerous frustrating follow up calls and emails to ANZ and finally gave up and put in a complaint to AFCA. A week or so afterwards I get a call from AFCA telling me that ANZ Share Investing told them that I need to change the complaint to CMC markets, notwithstanding that every correspondence from them is signed off by ANZ Share Investing. And then a couple of weeks later they send me a shopping list of 14 additional pieces of information they say they don’t have - except that all of this represents information I have already provided them (sometimes more than once) or information that is completely unrelated to my request. The absolute classic was they demanded an original certified copy of the Trust Deed of my Super Fund where that account was opened more than ten years ago. So assuming that Trust Deed is indeed a regulatory pre-requisite of opening an account, they’re telling me they omitted to ask for it ten years ago? Or they’ve lost it? Or their information management system is so completely hopeless they can’t locate it? Meantime, since they won’t change my account details it prevents me from moving my share holdings to a different and hopefully far more efficient platform. It’s just disgraceful. A couple of years ago the transition from the Etrade platform was an absolute mess with myself (and by all accounts many others) locked out of our accounts for days. I vowed then I’d leave but I couldn’t face the hassle and now I’m committed to it my fears have been realised. Avoid ANZ Share Investing like the plague. The customer service is diabolical – way worse than the one star minimum I had to enter.
Stay away from ANZ Share Investing...
They made my life hell! I was just trying to transfer my funds back to our account where it came from and it took me since 2/8/20 and still on going as I write.
First of all, I need to log on and then navigate through the web where I can filled out an online request on ANZ share trading platform to add an external bank account, they then requested me to sign the form, I went ahead signed and sent it back and have to followed them up on Monday 3/8/20, I spoke to a staff there and he then requested me to upload further document which is my driver...
ANZ trading platform used to be a decent one until few years ago. When they renamed and changed the platform recently it created all sort of issues. Interface is shocking, very very slow. Market price won't refresh and menu won't work unless you are ready to wait for 40-50 seconds or more. 40 seconds is a game-changer in this trading environment. No Profit Loss displayed in the trading view!!! this probably the only trading platform in the world that require navigating multiple menus to see P/L movement.
I have been providing feedback for th...e past 2 years to them but they have done nothing. I have been using ANZ trading for more than 14 years and last year switched to two of the other top 4 banks (I don't want to name them here as i don't want to promote any) after painful experience. Now i rarely use ANZ trading. I do not recommend using as there are plenty of good ones out there and brokerage is less as well. And ANZ trading is not cheap, their brokerage is same as other banks. Only one positive is that their annual trading report is slightly better than others but no full excel exporting option though.
Don't waste your time - TERRIBLE customer service
3-5 business days to process an application - 3 months later and still not processed. I've been with ANZ for 15 years. They should be utterly embarrassed to have this platform linked to their brand. Words cannot describe the frustration of having to call 10X and waiting up to 40 minutes to speak with someone. Finally after 2 months of "Just give it another 2 days", someone for the first time 'escalated' my request, despite me asking previously for a manager above them to see what the hold-up is. One bungle after another - never received ...my trust deed for verification from their own ANZ branch 2.5 months ago - I should have known that was a bad sign with all the bungles to follow. They seem to have no upper management (well, at least no one that is interested in talking with customer), and the delay was always 'the accountants in another section' were processing my application still. Well, give me their email and I can see what the hold up is. But nope, they don't deal directly with customers, 'just give it another 2 days'. I have a feeling it's just one guy working at the back eating donuts and it's probably just a work-experience kid that has no idea what the crap he's doing. The people you deal will not follow you up again. They don't give a crap! CommSec processed my application in record time. Don't waste your time with these clowns. It's a paid job for them, whether they give you good service, or crap service they still get paid. Cancelled my application today. ANZ, you should just change the motto of this part of the company to "Just two more days." After reading the rest of the reviews here, I definitely dodged a bullet.
There is a minimum 30 word limit for writing reviews here but seriously the 2 words above sum up everything you need to know if you are considering opening a trading account with ANZ Trading. The site is often down during critical trading times leaving you with your wang in your hand wondering what is going to happen to your assets. In the 15 years that I have been a customer using this platform (previously eTrade) they have changed the platform once, making it slightly less responsive and harder to navigate. Also, there is no phone app so to trade from your mobile device you have to squint.
Utterly pathetic !!!
Website pages don't load - they just don't care.
Consistently loosing money through lost trading opportunities. This company should be prosecuted for their gross incompetence and foul attitudes and they should be made to refund any trading fees collected ever since going with the CMC platform.
Terrible and completely unreliable platform
The platform is not reliable when there is heavy volume. It will hang and you are unable to to trade when it is most crucial. It is happening to me right now and it's really frustrating least to say. I am going to change to another platform today.
Slow dimwitted and unreliable
Like many users of the former Etrade Australia Platform I am continually disappointed by the CMC based platform. Clearly there has been limited investment in the backend systems particularly when dealing with processing times during periods of higher demand. Routinely difficult to logon, slow response rates to loading and processing orders resulting in far to many orders not beng processed. For the last six months it has been almost impossible to log on at the open or close So not suitable for traders. Look elsewhere.
Questions & Answers
I still hold shares which were purchased through E*Trade!! How can I obtain access to my portfolio??? So far, I have made no progress!!
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