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by Mariami on April 16th, 2019

Monex Securities Australia offers free brokerage service to Aussie traders

This Tuesday, the Australian brokerage subsidiary of Monex International Group, Monex Securities Australia announced the launching of free brokerage service. With it, Monex has become the latest firm to offer commission-free trading for stocks for eleven international markets including the biggest ones – the United States and most of Asia.

While offering commission-free trading for stocks is a relatively new concept in the Forex and contracts for differences (CFDs) space, the brokerages are actively adopting it. More and more European brokers and global firms are offering this service to their customers who want to trade with international shares. However, Monex Securities Australia is the first broker in Australia as well as worldwide to offer not only the shares but other investment instruments such as ETFs. Hence, while some of the investors in Europe might enjoy trading without commissions on shares, investors in Australia will have access to more various trading instruments.

As the official statement reads Monex Securities Australia wants to encourage Aussie investors to go further and trade outside of Australia. For this, the brokerage is offering service for eleven markets including the United States, Japan,  China, Hong-Kong, Taiwan, Singapore, Malaysia, Thailand, Indonesia, Philippines and South Korea. The customers of the brokerage will now have an opportunity to use the free brokerage service for these markets.

Encouraging Australian investors

The managing director at Monex Securities Australia, Alex Douglas commented on the decision stating that many of the Australian investors are willing to trade on international markets but are not doing so due to the high costs. As he stated the company wants to challenge that and encourage traders to buy and sell international stocks.  Alex Douglas also stated that currently, the Australian market accounts for less than 3 per cent of global market capitalization. This means that Australian investors are missing out a wide range of lucrative investment opportunities when they are not investing in the overseas markets.

After the launching, the free brokerage service the company’s Australian traders will be able to buy shares in the biggest companies without paying any brokerage fees. The list of companies includes Google, Amazon, Facebook, Hyundai and nearly 50,000 other stocks.  According to the Monex Securities Australia, this offer will encourage Australian investors to widen their investment horizon and take advantage of the international markets, especially in the United States which is one of the largest markets worldwide.

By Mariami

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