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Nabtrade

Nabtrade

1.6 from 88 reviews

See the Best Online Forex / Share Trading in 2019 as rated by Australians on ProductReview.com.au.


Somewhere in the middle...

It sounds like a few people here have had genuine issues with nabtrade, but I also see some unfair reviews. e.g. The guy who gave them 1 star because he didn't monitor his shares and they dropped 50%.. are you serious? And [name removed]- mate, the interest rate has dropped on your High Interest account because the RBA cash rate has dropped, and will continue to drop. It's got nothing to do with 'trust' or the evil banks trying to screw you. Seriously, it's embarrassing reading some of these reviews. By the way, which other broker pays 1.5% on a cash account? I can't find anything that comes even close to that rate.

I think they are somewhere in the middle... on cost, platform, service. They are cheaper than the criminal enterprise commsec... for both domestic and international. I had no problems at all setting up my accounts / high interest account. The platform has indeed frustrated me at times. e.g. I can't seem to find 'average volume' anywhere. The charting is a joke. When you search a stock, it includes a list of 'peer' companies, most of which are not related at all. The commodities prices are updated only once a day. But I do like some of the features on the platform..overall it's a pass.

Transparency

Poor platform, poor support, nab take no responsibilty.

I originally stopped using nabtrade as the platform is slow and never works. You put in a trade and they fail. Thats when you can login. Don't be expecting to be able to put in a trade the day you want it. If you use this platform you need to allow 3 days to buy or sell as it breaks down all the time.

Its 330am and I still had money in my account. I decided to come back to NAB for international shares. I made this decision solely for tax purposes as the platform does the trade and currency swap in one go (rather than aud-usd then trade then usd back to aud).
I go to order it says "You need an international trading account". I already have one there as I have used it before yet still no dice.
I go to add an account as it requests. It says"unable to add account".
I go to call support they are closed.

Absolutely useless. You may as well close the platform altogether NAB. I'll be going to a branch today to finalise closing my last account with NAB (not that they care).

Also, my "High interest account" I used to get 2.6% when I put the money there. When I log in today it says 1.5%.
Thank you so much NAB for showing me once and for all why I should never trust you guys. You short changed me as well as leaving me unable to trade. I transferred the rest of my funds out of my LOW INTEREST account today.

Transparency

Missed 300% trading gain on Sezzle (SZL.ASX) at launch as Nabtrade had no coverage to trade this share!

As above totally missed a 300% trading gain on Sezzle due to completely no coverage on Nabtrade! Yep absolutely no trading coverage on day of Sezzles ASX launch and could not place an order even the next day. Phoned Nabtrade and they as per normal blamed the customer and my equipment. I Was very clear that I could access all other ASX listed companies without a problem at all but for some reason not Sezzle - funny enough (or unfortunately) the Nabtrade telephone operator let it slip that they just spoke to another person with a similar problem - they then immediately returned to a scripted response that it must be my equipment and I needed to try another computer with another operating system! Talk about frustration and they wonder why people don't like Banks and have suspicion dodgy practices! Why is it they had access to Sezzle and the average punters like us didn't!

Transparency

Utter trash.

It doesn't matter if you trade $1 or 1 billion, you get hit with the exact same $15 fee. How convenient that the poor get poorer and the rich have a fee so minimal it's nothing to them. The poor should have the free fee and the rich should be charged the equivalent 2% fee.

I wanted to buy 400 shares at $4 it said I had no money... The shares rose to $6 in 1 hour. That's 800 US I could and would have made.

It said I had no money because the money from sold shares hadn't cleared yet....So loan me the money up to the amount clearing the next day..you're a bank..

The next day I saw shares at $10 I wanted to buy them but didn't because my money still hadn't cleared into my account. So I didn't try to buy them. They went up to $11.70 in 30 minutes. I dedided wth, i'll try and buy them and see what happens. Guess what? It worked....So when I want to buy shares theres always something that goes wrong, this time costing me a further $500 US.

That's $1300 US lost in two days because of a system literally nobody can explain to me despite calling them and asking about 5 times.

It works when it wants...which is always the worst time possible.

Transparency

Very slow, but good when it works

THE BAD:
Nabtrade was my trading platform of choice because I have been with NAB for years. When I opened up months back (2019) all seemed well. In the last month or so it has been horrible.

It seems during market hours and slightly after close (peak periods I guess) the website performs terrible. Matter of fact it won't even load and I have to rely on the Mobile App (which has problems of its own) to check how my trades are going (I use it daily).

I don't know whats happening out back, but their networking house needs a bolster (and their Dev-ops team need some love too RE: mobile app).

NAB's got a new CEO, maybe he can invest some money into the darn Dev-ops team and networking house to improve both the user experience and availability of their trading platforms.

THE GOOD:
On the bright side on a basic user note, the market insights are great. Writing an email to support over a technical question I had a response in 2.5 business days.

So seriously... your stocks are doing pretty well (Up 18% on my watch!) so how about some love

Transparency

Good functionality

I read the reviews here and expected the latest version of Natrade and their mobile offering to be poor.

However it isn’t ! It’s rather good. No doubt the latest enhancements have some performance issues/bugs which their IT will be working on. I also note that if I use my laptop the full site has better responsiveness and some of the buttons that wouldn’t work on my iPad work fine on the windows device.

Maybe it’s new since the reviews below but I can see stop Loss etc so it appears to be fully functional. The info, news, market updates and general usability seems great so far.

Their m.nabtrade.com.au site for mobile works well on my iPhone and iPad. Missing the 5th star due to slower performance when loading.


Absolutely horrible

I have had a Nabtrade account for quite a few years and until recently it would operate fine .
Lately though it takes minutes to load.
Yes every page from log on to access takes minutes.
I have complained many times to Nabtrade about this but they reply no one else complains.
I have used 4 browsers , all the same and logged in direct and through my NAB bank account. It makes no difference.
I have a 100mbps NBN connection and FTTP so it's not coming from my side .
The site itself is very old fashioned and not easy to navigate, many things are hidden behind menu's and require diving through these menu's to access many of the features .
The whole platform needs an overhaul .

Transparency

Too hard ...

I have been a NAB customer for many decades. I have tried three times to set up a NABTrade account online. Each time the bank's software failed for some reason unknown to me. I rang them once, and was told that my application was not stored and could not be recovered. So I had to start again from scratch. Still no good. So I will be hand filling in many pages of hard copy forms and getting certified copies of ID documents and walking them over to a stockbroker I know, so that I have an account I can use with no issues. The reviews here indicate that even if I had succeeded in setting up an account, my problems with NABTrade would not have been over.

I hate most places, Nabtrade aren't bad.

I've read a few reviews and it seems like those people have no idea what they are talking about.
Jason F. Claims he didn't know his stock was loosing value....What are you 2 years old?
It does tell you and tbh it's not anyone's job to tell you that your stock is falling, it's your job to check.
Another person said he couldn't understand why his account was minus even though he had the stock.
It comes up minus because the purchase has been made but that your money hasn't cleared into their account yet.

I have been helped well every time, Yes there are some issues with their display, for instance I can't seem to find the date or amount of my initial purchase. This is the most important thing because it lets people know if they made a profit or not.

Most banks charge between $30aud and $70aud per buy or sell.
NabTrade does it for $15.

Transparency

There must be better options out there!

As I am a NAB customer I chose NAB trade when I decided to buy some shares for the first time.
Due to this lack of experience I didn't know what I should be looking for and thought that all trading platforms offered by the big banks would have at least the most basic of tools, I was wrong.

The most important thing a trading platform can have in my opinion is a "Stop Loss" option. Over the course of the last few months my investment dropped significantly, about 50% and there was nothing I could do about it but ride out the loss and wait for price to come back, which I am pleased to say that it eventually did. I understand that investment is risk but seeing an investment of $10,000 turn into $5,000 just because a "standard" feature on most platforms isn't available is ridiculous.

The point of this is that unless you are monitoring your account constantly NAB Trade leaves you very exposed to market fluctuation with no protection.

I hope this has helped.

Transparency

Pathetic Support

Pathetic!! Over 30 mins to get through over the phone and that's service for premier grade level, can't believe at all when every seconds matters. Lift up your game guys!!


Don't get me started!

I am a NAB customer, and for about a week now I have been *trying* to get an account set up to sell a small parcel of international shares I have. It's not gone well. After specifically selecting options for an international account, I was led to an "onboarding" page where I added all my personal details. Now, you'd think NAB might use all the details I already entered for the other account, especially given they asked for my login details... but nope... I have to enter it all again. After finally completing all the compulsory fields, the form fails to submit - because.... I have not filled out a compulsory field! It's a guessing game now, because NAB's superior e-commerce platform refuses to give even a hint of which field has failed its shoddy validation. Eventually I am able to trick it by repeating the whole application in a really old version of Internet Explorer, which I can only assume is more in line with the cutting-edge tech NAB is using. So tonight I decided I'd try and actually put through an order... only to be told I needed to sign up for an International Trading account! Wait... didn't I just do that NAB? So I wondered if I could just do it through my ( eventually successful ) NAB trade account.... wrong! I can't! And, as it happens, "NAB Trade is experiencing a Technology outage", so I can't do anything there. So I decided to try and sign up anyway, but it's a joke because the International form that looks identical to the domestic form ( and even has the same web URL ) is... surprise surprise... broken! Just like the domestic one! Seriously... NAB are an absolute joke, and they don't even seem to care judging by the lack of responses here. Anything is better than this idiocy.


If I could give minus stars !!! stay away

Read the previous reviews.....
Didn't even start dealing with them, lucky me.
Tried to discuss some matters...got standard answers.
Terrible service...ROBOTS.
Those guys lost my business by hello

I would expect NAB for extra effort nowadays with the "reputation".


Pathetic Service - stay away

Disgraceful broker - my Holdings are normally incorrect, I purchase a parcel of shares and it often takes half an hour before it appears in my Holdings. Service is pathetic, take too long to get back to me normally. I would not recommend these guys at all, I'm moving to Commsec, could not possibly be any worse.

They don't know what they are doing

I submitted the required documents in the branch for opening my trading account, was told to use my international address because I'm here as a temporary resident. Then they request me to put a form saying I'm tax resident of another country which I'm not. Because my address is international.

Nabtrade so Wrong cannot trade today as the account is cash trading account but shows minus amount.

Nabtrade is sorting my account....showing a minus, why because its cash account. I sold some stocks...N/A appearing on page.....stock that is sold still on my page. Trust is really important NABTRADE.......this account has had settlements disappear into space....no help from NABTRADE. Cannot trade to-day, because Equities for trading is showing MINUS, Manager advised that he can help manually, he sees that the settlement is wrong, but still asks what I would like to buy, I advise him to buy back my stock and the account shows again a MINUS again. NABTRADE always reflects the wrong Average PRICE when you purchase a stock....as result you have a loss...than takes days to fix.....today is the same...I 've lost money trading on this site because of all the mistakes which... takes days to fix,(I am not talking about volatility, but trading opportunities) but NABTRADE suppose to be a daily trading account/site. I have to take pictures of my trading page daily.Consulted with NABTRADE...No one knows when the page will reflect the right stock holding and CASH Balance...I have been told to hold on whilst it gets fixed...THIS IS A DAILY TRADING SITE.....I DON'T APPRECIATE THE DISHONESTY. NABTRADE


Pathetic Service by Contact Center Staff

Contact centre staff is not helpful at all. I submitted the required documents in the branch for opening my trading account as they could not verify the same online. Later on, when I requested to activate my international trading account I was asked again to go to the branch and submit the same documents again as they are not having any record of the docs submitted earlier. The concerned could not give any justification at all and did not apologise either. It seemed that it is my fault as I opened my account with them. I was surprised with the attitude of the staff towards their customers and am getting the account closed. A company which cannot keep/retrieve your documents used for opening an account can never be trusted with your money/shares.

Thank you!


The effort that I took in writing this review is infinitely more than theirs in assisting customers

For every new account holder, i wish i could shake them by the shoulders and tell them to LEAVE.
I had a horrible start setting up my account with nabtrade - i should've taken that as a warning sign. They needed me to verify my account and a meeting was already arranged at a NAB branch but when i got there, the person whom i was to meet ignored me and hastily pushed me to another customer service staff who had no idea what he was doing and said woman who arranged the meeting was sitting at the table next to us, heard everything, but refused to even help her colleague. She actually glanced at me and ignored. that's that.

Every few months, the nabtrade platform would have some downtime - watchlists don't load, can't log in etc. imagine the heart palpitations when you have a sell/buy order that you wish to cancel and the page doesn't load. If you have a weak heart or heart problems, stay away.

They are dishonest in their dealings and charge unreasonable fees and refusing to admit. They just push customers around and give run of the mill answers. I called nabtrade and the guy didn't know any better - i actually had to tell him what nabtrade does. I called again and this time the lady who answered was slurring. YES . try understanding a conversation where 3 words are combined into one and like another poster here, i too heard alot of chatter and laughter in the background. Emails to them are never replied and always ignored.

I understand that Australia is not a financial hub and I've read other reviews that said CBA's is just as bad. Am considering going to HSBC's next and avoiding australian banks for such purposes - clearly they do not have the expertise.

The effort that I took in writing this review is infinitely more than theirs in assisting customers.

I would give it 0 stars if I could.


Terrible service and platform

The data is 15 mins behind, when I try to sell stocks it doesn't give me an order pad to perform the transaction as a result I've lost money because the order pad wasn't working or won't show on the screen at crucial moments. I've contacted NABTrade to fix this but I didn't get any help. When you sell it takes 2 business days to settle the trade.


The worst comparing with USA, China and Hong Kong

It's the worst financial company I've ever used, comparing with my experience in other countries.

The nabtrade stopped me from trading a number of international stocks I selected. I was able to see those stocks, and price, but it just didn't allow me to trade for over 3 months.

I had to call them again and again and again. Then they just replied, they don't know, or it's a problem of their doggy vendor, not their fault. They even ask me answer a question "It's not added in our system (for over 3 months), how can we allow you to trade if it's not in our system?".

For a few times, I called them, and clearly heard girls laughing aloud in the background. Good, they are leading a happy life in the office, but I was so worried and upset due to trading issues.

Amazingly, they even told me to go to another broker, Wow! I appreciate the honesty.

I suspect these guys have been isolated from the modern society for centuries, because it's a way to reply to customers in 1840s according to what I learned from books. In those years, things were a mess.

Now I've stopped using nabtrade, and will have to use brokers in other countries. Brokers in USA, Hong Kong, and China are both much more affordable and more knowledgeable and professional, and they respond much faster, and really care about their customers.

I've made such a big mistake to choose nabtrade, it's my fault, SORRY!

Somebody suggested commsec or wespac, but my friends suggest not to use them, because "they are terrible slow as well, and users have to call me for internal stock trading" My Lord! We should see these companies in a museum of history.


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Questions & Answers

How do I look at my share avv
1 answer
I want to look at my account

Hello Nabtrade, are there any plans to fix the constant crashes ? Site is down AGAIN after first slowing down to a crawl.
1 answer
Switch Julian - I did and I never looked back. Got to the stage that I couldnt even log in or place trades I was losing money on a daily basis.

how long after selling stock do the funds become cash?
1 answer
After three business days, the money will be in your linked cash account.

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