THIS SERVICE IS CURRENTLY IN BETA LAUNCH AND AVAILABLE TO PARTICIPATING CLIENTS ONLY
OpenMarkets international share trading service offers access to trade major US stocks on NYSE and NASDAQ at just $13.95 or 0.07% per trade! Available only on our new Equix trading platform, you can now invest in stocks like Amazon, Google and Netflix alongside your ASX investments, with trades settling from the same linked cash account.
For more information on how to apply and how trading US stocks through Equix works please see our Frequently Asked Questions below.
To trade US shares at OpenMarkets you will need to apply for US trading access on your OpenMarkets account by clicking here and signing up to participate in our OpenMarkets Equix beta launch.
Please note: before US trading access can be enabled, you will be required to submit a W-8 Form and submit to OpenMarkets. Learn more about W-8 forms here.
Our international share trading service is only available through our new OpenMarkets Equix trading platform and shortly our mobile app (coming soon on the App Store and Google Play).
The service is not currently available through WebTrader, Pulse or the Iress trading platforms.
Currently our international share trading service provides you with access to major US stocks on the New York Stock Exchange (NYSE) and Nasdaq Stock Exchange. This includes popular stocks like Amazon, Google, Cisco and Netflix.
We expect to add major European and Asian markets in 2019.
Our brokerage cost per international share trade is just AUD$13.95 or 0.07% per trade (ex GST).
A foreign exchange fee of 0.60% is also charged at the time of trade.?The exchange rate is calculated at the time of execution and is based on the best available bid/offer exchange rates made available to OpenMarkets via the international broker.
There are no custody fees involved with OpenMarkets International share trading service.
To place an order in OpenMarkets Equix:
Click on the menu icon and select Order Pad
Enter US stock code in the appropriate field (and see the previous day’s closing price)
Select either the Buy or Sell button
Enter a Limit Price and desired quantity of shares. The Order Pad will calculate the total trade value including brokerage. (For Buy orders it will apply a 5%?FX buffer to protect against currency movements.) Please note Limit Order will purge after 30 days.
Hit the Buy (green) or Sell (red) button to submit your order
Enter your Security PIN to confirm your order
Setting a Limit price calculates the total trade value and therefore ensures you have sufficient cash to cover the cost of the trade.
We currently do not offer an ?At Market? order type for Buy trades.
Yes, you can place international buy/sell orders any time, day or night.
Orders will only enter the market however when the relevant exchange opens.
For more on NYSE market hours including pre-open times and US public holiday closures, please visit www.nyse.com/markets/hours-calendars
For more on NASDAQ market hours including pre-open times and US public holiday closures, please visit?www.business.nasdaq.com/discover/events/trading-hours/?
The foreign exchange (FX) rate is calculated at the time of execution and is based on the best available bid/offer exchange rates made available to OpenMarkets via our international broker.
An FX conversion fee of 0.60% of the transaction value is also charged at the time of execution.
The OpenMarkets Equix order pad will always ensure you have an additional 5% buffer in your available cash balance when you place an international trade to protect against any currency movements that may occur?between the time you place an order and when an order executes.
Any excess buffer will be unlocked after the trade has settled on T+2 (i.e. ?funds are debited from your linked cash account). At that point, your available cash balance will be updated.
AUD$500 is the minimum amount for a Buy transaction on a US share trade.
This does not take into account the 5% buffer required in your available cash balance. (Our trading systems will always ensure you have an additional 5% available in your cash account to account for any currency movements.)
Yes. One of the advantages of our international share trading service is that all your trades are settled from the same linked cash account used to settle your ASX/NSX shares.
Settlement for international trades that execute overnight (when the US markets are open).
Buys settle T+1
Sells settle T+4
Funds are debited or credited in Australian currency.
Your US shares are held on your behalf in an OpenMarkets nominee account with our international share broker, Saxo Capital Markets. Your holdings are registered and maintained in a sub-register system in your name at Saxo.
OpenMarkets has partnered with global multi-asset trading platform Saxo Capital Markets for the provision of international share trading to our clients.
OpenMarkets systems are integrated via a real-time FIX connection (globally recognised protocol for the real-time exchange of financial transactions and securities information).
This means order placement for international shares occurs in real-time. Orders are only executed however when that market opens. Orders placed outside of exchange market hours remain in a queue and only enter the market upon open.
Participate in our OpenMarkets Equix and US share trading beta launch
We invite OpenMarkets customers to participate in the beta launch of our new trading platform OpenMarkets Equix and US share trading service. Click below to participate and tell us what you think.