Joint Marketech Trading if You Enjoy Being Ignored, Disrespected & Mislead!!!
I sent via email a very simple request to Marketech's Support Team. It has been SIX days and yet NO REPLY to the request. This, at the very least, is extremely disappointing and from reliable word of mouth a very common problem with Marketech.
Now, I can believe that Marketech's claims to be a superior trading platform are false!
Additionally, you are COMPELLED to pay a $20 per month live share price data fee, whenever you must trade, even if you don't need it.
An "excellent" trading platform for clients who enjoy being ignored, disrespected and mislead!!!
I came off Iress/Comsec
Does everything I need as I've wound right back in the trading side of things.Continual upgrades and improvements.
A couple of things I would like to see. Live news data and a reward similar to comsec whereby if you spend X amount of brokerage in a month or X number of trades the platform is free.
Service, price, features, ease of use
I am so old I go back to JB were as a broker with 1% commission trades. e. $100+. Used Commsec, Etrade, ...NABtrade., State one..... but this platform suites me. I like the idea I "own" the stocks and am not in some sort of general pool of funds, can use my own HIN and have chess sponsorship
I have been a user for 18+ months .Alerts can be set so I don't have to sit at the screen all day and when they go off I can log in on iphone and make a decision. New features are really good and the new fundamental screen has lots of info. Charts work fine, especially the 1 minute,, email queries answered quickly, much better than commsec, low fees Happy punter.
Exceptional service, intuitive platform
I have been using Marketech for just over two years. I am an experienced (>40 years) and active trader/investor and have found the trading platform in its latest form, extremely effective and easy to use with all needed information quickly accessible. The company seems intent on looking for continual, well thought through enhancements.
However, the most impressive aspect when dealing with Marketech for me has been the level of service. When I send an email, I never have to wait till the next day for a response, and they are always helpful.
Use it every day the market is open.
Plenty of relevant information and easy to use. I like the summary of what I have bought and sold over the recent period. The recent addition of the running profit or loss on the day on each individual stock is very useful.
Like others, I was happy with basic trade functionality on OpenTrader.
Now have to pay $20 per month for the ability to Buy/Sell plus commissions on trades.
I am a positon trader with several month hold typically.
SelfWealth here I come.
Another Ex Opentrader customer
I was a bit surprised when I got moved from Opentrader to Marketech on a few days’ notice, but in light of the recent acquisition, it sort of makes sense now.
The Focus platform looks ok, although, it is not great and it is probably subpar compared to Opentrader. The Focus Mobile app is not bad though, but it does not make up for the fact that suddenly we are required to pay 20 dollars to have a similar product offering as Opentrader used to offer for free. Moreover, the default Focus Lite package does not come with a buy/sell feature (!), which makes the platform useless essentially. Since I am an investor and not a full-time trader, it does not make much sense to stick with Marketech, so I am moving all of my shares to a competitor.
Had an account with OpenTrader and was happy with it as it was easy to use, but I was migrated to Marketech with two days notice to trial. I sent them an email explaining that I was going overseas for two weeks and when I got back trial had ended and I have had issues ever since trying to logon. Today I tried logon to my account, can view terms and conditions but not my share account and they want a monthly fee for that. As someone who may only trade once every 3-4 months and expected to pay $20.00 a month plus brokerage fee this makes it an expensive exercise.
They have shifted us from a better software programe in Opentrader to a basic software which doesnt even show daily profits of your portfolio. A cramped up summary of it hard to track. The advertising bvefore the switch sounds like you getting a porsche but we have ended up with the most basic of basics programe on the asx and a charge on top for live data. Feel very duped and will shift away in time.
Very Unintuitive, Cluttered, Hard to Navigate
We had an account with OpenTrader which was easy to use and uncluttered. Then we got migrated to Marketech and that's when we decided to move our HIN to Nabtrade. Marketech - the portfolio view is squashed in on a left side panel rather than an option to show it full screen like on Opentrader, Commsec or Nabtrade. There's a lot going on on the screen. The Buy Sell buttons are tucked away on the bottom right of the screen - tiny little buttons. The middle of the screen is one big chart - unlike in Opentrader which allows you to view multiple... Read more stock (six or more) charts on one screen. The Buy/Sell panel, which pops up when clicking those tiny buy/sell link buttons, is so cluttered with so many additional buttons and numbers all squash into a small panel. It's just a terrible experience!!! It's like a B grade school IT project. Oh and there is no live chat support (unlike OpenTrader which had fantastic live chat support). Support is via Email - good luck if you're having issues while using the platform. If you must use OpenMarkets - go to Selfwealth, otherwise seriously consider whether the stress of the platform and trying to get support is worth it.
Web site down time
Really pleased in Marketech web presentation, but very disappointed with how often their site is partially down. That is when you cannot see your portfolio or trade your stocks, online
Best Trading platform I have ever used
I first opened an account with Marketech 12 months ago and trade using 3 accounts with the Marketech Focus. I find the platform layout intuitive and I can find all the information I need on the on the trading screen ie: depth, news, company info, and portfolio etc. I also like to use indicators to help me trade and have built my own group of indicators to help with my buy/sell decisions.Placing orders is very smooth and easy from within the screen.
I also like that I can have multiple watchlists with unlimited stocks in them.This makes checki
Lowest fees, live data, CHESS safe account, with KISS principal built in
A year ago, I made the mistake of working out how much I had spent per week on trading fees. It was a sobering and scary moment. And so began the search for a new trading platform. All the "expert" review sites, seemed to all quote the same companies, with almost cookie-cutter descriptions about each.
Then I read about a company that had decades of experience in trading software, who were venturing out with their own complete trading platform.
Designed as an all-in-one trading platform, that is meant to be easy to learn, customise and use. A... Read moreimed at mobile, but with desktop version as well. It is designed to compliment the two together, so you are not tied to your computer desk through the day, and can trade on the move if you want. You can set up a trial account to get a feel for everything, then there are two versions for live trading. A free version, suitable for anyone that only makes a couple of trades per month or a subscription version, at $45 per month, with true live streaming price data and a low brokerage fee of $5 per trade, so anyone with a bank trading account doing more than 2 trades per month will be in front. Your investment is protected with CHESS and linked with a Macquarie bank account, as opposed to the pooled method being offered by some companies, and they are an Australian company, so you are also protected by the Australian financial regulations.
Questions & Answers
How do I transfer my whole portfolio out of Marketech into another broker? Is there a minimum that I can transfer?
Hi Bee! Its quite simple to transfer between brokers and there shouldn't be any cost to do so beyond there normal fees (that you can find in their Financial Services Guide - FSG), some of them may even offer you some free trades, which can make it quite attractive to move around! Simply open an account at the new broker and they will ask whether you want to create a new HIN and just transfer some of your stocks across (a 'Broker-to-broker transfer' form), or transfer your whole HIN and all of the stocks on it (a 'HIN transfer' form). If you have small parcels (less than $500) you should consider moving your whole HIN, as you cannot individually transfer any parcels of stock (with a Broker-to-broker transfer) that are less than $500 in value, whereas they will get scooped up in a HIN transfer - unless those companies are in suspension or in administration. If they survive, they will remain on the Openmarkets HIN through your Marketech platform until they are trade-able on the markets again. If you have any other questions, please contact our support team, or the support team at your new broker.
Is there charges for selling shares if not joining focus lite???
Hi Darryl, Yes, there is a subscription for accessing live market data each month, and once you have enabled live data then brokerage is payable on the transactions that you make. (We think you should know what the price is before you trade shares, and there is a cost for that data from the ASX itself that we pass on - instead of building that cost into a higher brokerage rate, or keeping the interest from your cash to offset it.) Please refer to our website, and our FSG/T&Cs for more information - or email our support desk. https://marketech.com.au/focus/
Please note, our product is designed as a data & trading platform, and isn't really suitable for a once-off share sale. If you are just looking to offload some shares, would suggest that there are many better options for you.
I do not need live data,daily or monthly,so why should I have to pay a subscription to sell or buy shares??????
Hi Darryl, Marketech's core product is a data platform (that you can also trade shares through), and that's how we charge for our service (and cover the costs of running our company), but it sounds like its a product that you don't need. Luckily, there are many other companies offering access to buying and selling shares that make their profit margin in other ways. If you already have shares on a Marketech account then simply approach one of those other companies about opening an account and they will arrange to transfer your shares for you. Best of all - it's usually quite fast to do online, and it's free to do!
Your video states "If you want to work a large order, we can set your contract-notes to end of day".
In this case is there a single contract-note per stock for all buy-orders throughout the day, and the brokerage is calculated at 0.02% of the total amount on the contract-note, or $5, whichever is greater?
From my experience with Marketech over the last two years, you receive a contract note for each executed trade. If your order is part filled, you will receive a contract note for that transaction plus the appropriate commission, and when the rest of the order is filled (assuming the order was not modified in the interim) you will be sent a separate contract note with no commission (assuming the commission already charged would have been the same if the order was filled in one transaction). Hope that helps.
Yes, that is correct. Some of our clients request Openmarkets to issue contract notes at the end of day, and not for each order. You would then receive one contract notes for your buys (per stock), and one for your sells (per stock), with the aggregated amount then used to calculate the $5/0.02% overall on each side. Please note that the approval of this is at the discretion of Openmarkets. If you have any further queries please contact our support team.
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