Trustees are free to use any bank or broker of their choice when opening bank and share trading accounts. Always remember to have the account name in the name of the SMSF.
As of Saturday 22 February all Macquarie Online Trading accounts will be provided directly by Bell and all trading accounts will no longer be visible when you log into Macquarie Online or the Macquarie Mobile Banking app.
Using the Macquarie Cash Management Account and the linked broker account may be a good option as this is tailor-made for SMSF’s (the choice is yours). You can now link your Macquarie Cash Management Account (CMA) with Bell Direct. This is an online trading platform to buy and sell Australian shares.
Bell Direct allows your Fund to trade Australian equities and ETFs from your computer, mobile or tablet. When you trade, the Online Trading is linked to your Fund’s Macquarie CMA. The brokerage fees is charged at the greater of $19.95 or 0.12% of the trade value. Trustees that prefer to speak to a broker can do so, but there is an extra fee involved.
Benefits of Online Trading:
- Competitive fee
- Account can be viewed by us
- Account can be downloaded to BGL
- Mobile trading platform
For more guidance on shares and related investments using your SMSF, see our share investment page.
