Stockbroking

Questions

Answers

  • What is a CMC Markets Cash Account?

    A CMC Markets Cash Account is an interest-bearing account with Bankwest operated by CMC Markets Stockbroking under your instructions. This account is for trading purposes only and enables you to trade online using the CMC Markets Stockbroking platforms. 

    Share purchases are debited from your account on the day of settlement and proceeds from share sales are credited to your account on the day of settlement.

    You can easily view your Cash Account statements, transfer funds and more from either of the stockbroking trading platforms.

  • Are there any limits for BPAY?

    BPAY deposits are limited to $300,000, however this is bank dependent. If you are trying to BPAY more than this, please break your deposit into multiple BPAY deposits. We recommend confirming your personal BPay limit with your bank.

  • Will I receive interest for funds held in my BankWest Cash Account?

    The CMC Markets Stockbroking Cash Account, held with Bankwest, is for trading purposes and should not be used as a savings account. There is interest paid on holdings, more information can be found on our cash rates page.

  • Why have I been charged the Broker Service Fee?

    The Broker Service Fee shows the difference between the interest rate that BankWest pays on the cash account to what a CMC Markets Stockbroking client receives. CMC Markets charges a Broker Service Fee of 1% per annum. Visit our cash account page for more information.

  • How do I withdraw funds from my CMC Markets Cash Account?

    You can withdraw funds from your CMC Markets Cash Account from the CMC Markets Stockbroking platforms. After logging in, select 'Transfer funds' from the 'Account' menu and follow the prompts. 

    If we receive your instruction to withdraw funds before 11:00 (Sydney time), we can draw a cheque on the same day. If we receive your instruction to withdraw funds after 11:00 (Sydney time), we can draw a cheque on the next business day.

    We can also transfer funds to a nominated external bank account. You can link an external bank account via the standard stockbroking platform - simply select 'Transfer funds' from the 'Account' menu and follow the prompts. Alternatively you can use our Direct Credit Authority Form to set up this facility.

  • How do I deposit funds into my CMC Markets Cash Account?

    BPAY® - see the 'How to deposit' page (select 'Transfer Funds' from 'Account' menu) on your trading platform for Biller Code and Reference Number.

    Direct deposit - see the 'How to deposit' page (select 'Transfer Funds' from 'Account' menu) for Account Name, BSB and Account Number.

    Cheque - Make cheque payable to ‘CMC Markets Stockbroking’. We can only accept cheques in Australian currency. Write your account name and account number on the back of the cheque and mail it to:

    CMC Markets Stockbroking
    GPO Box 5351
    Sydney NSW 2001

  • Why should I open a CMC Markets Cash Account?

    The CMC Markets Cash Account is the easiest way for us to deposit the proceeds of your sales and for you to pay for your purchases. Benefits include:

    • the ability to trade online
    • take advantage of Australia’s lowest brokerage rates of $11 or 0.10%, whichever is the greater

    Interest is calculated daily and paid monthly. The rate is variable and depends on your account balance.

    It is possible to open a stockbroking account without a CMC Markets Cash Account, but you won’t be able to trade online.

  • Is there a minimum balance required for the CMC Markets cash account?

    The minimum balance required is $2.00.

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