About Monex Securities
Monex Securities Australia Pty Ltd (ABN 84 142 210 179) holds Australian Financial Services License # 363972 and is required to comply with strict rules overseen by ASIC. Client funds are held in a segregated bank account with one of Australia’s largest banks and, as required by law, these client funds are never used for any corporate operating expenses.
To open a trading account with us;
- Register your email and personal information on “Register” page. We will send a confirmation email to your email address;
- Click the verification link found in the email and continue online application in your Client Portal;
- Once you have finished your online application, register your tax details and bank information in “Account Settings”. With the information registered, you can start funding and trading as soon as your application is approved.
To start trading, you need to deposit Australian dollars from an Australian bank account. It usually takes 1 business day for your fund to be allocated into your trading account. Then you are able to place orders in all 12 markets under one account. After your order is executed, the system will automatically process the currency conversion on T+1 basis.
Monex trading account supports 6 currencies (AUD, USD, HKD, CNY, SGD, JPY). When you decide to sell international shares, the settled fund will be credited into your trading account in the corresponding currency for your next trade. This multi-currency trading account will allow you to avoid the extra foreign exchange conversion fee if you are trading in international markets frequently. Our brokerage fee and foreign exchange conversion fee are very competitive. In most of the markets, you are allowed to place another BUY order by using proceeds from a previous SELL order before this SELL order is settled.
Commission is charged on a per order basis – and different commission rates and pass-on charges apply to different stock markets. To view a complete list of our pricing, please refer to our fee schedule.
All stocks available on Monex trading platform are real shares issued by listed companies. All price quotes and movement are directly obtained from exchanges. Different from CFD products, trading real shares is more open and transparent.
|Bank Name:||Commonwealth Bank of Australia|
|Branch Address:||309-315 George St, Sydney, NSW, 2000|
|A/C Name:||MONEX AUST – CLIENT SEGREGATED TRUST ACCT|
|Currency:||AUD – Australian dollars|
You can deposit your funds into your trading account by using Wire transfer, POLi, BPAY or PayID. Your fund will be deposited into our Commbank Trust Account and held by Monex on your behalf.
When you initiate a withdrawal request, your fund will be returned to your bank account.
Please note that it takes at least 1 business day for us to process your deposit and withdrawal request.
We currently only accept Australian dollars. You can only deposit/withdraw by using an Australian bank account under your name.
You will need to transfer your funds from your wallet to your trading account before you start trading. You can manage this by clicking on “Make an Internal Transfer” button on the dashboard. Internal transfers should happen instantly.
If you have foreign currencies in your trading account, you will need to convert them back to AUD before you can withdrawal. You can do this by logging into your trading account, on the top menu select “Account History” – “FX Instructions”. FX instructions normally take 1 business day to process.
If you only have AUD in your trading account, simply use the internal transfer function to transfer them back to your wallet, and on the left menu select “Cashier” – “Make a Withdrawal”.
To register a designated bank account, simply login to your Client Portal, select “My Details” > “Account Settings” > “Bank Account”, fill in your bank details online. If you already have a pre-registered designated bank account with MONEX, you can simply submit a funds withdrawal instruction online:
- Login to your Client Portal;
- On the left side, select “Cashier” > “Make a Withdrawal” > “Make a Withdrawal”;
- You can transfer funds to any bank account under your name, but payment to a third party is not permitted.
No. We do not charge any fee on funds withdrawal. However, other bank charges may be incurred and will be automatically deducted from your withdrawal sum.
To change your Login Password, you need to login to your Client Portal, then go to “Reset Password” under the “Account Settings” section. Please be reminded not to tell anyone your Login Password to protect your interests.
You can reset your password online;
- Go to Login Page and click “Forgot Password”;
- Enter your registered email address and Captcha Code displayed on the page;
- You will receive a “Reset Password” email and you can create a new password by clicking the link found in the email.
To change mobile phone number, simply login to your Client Portal and update the information on “Account Settings” > “Manage Profile” under “My Details” section. To change other account information, you have to provide a written instruction or the completed “Change of Account Information Form” and email to us at email@example.com.
We can assist you to process the off-market transfers or one-off sales in different markets. However, obligatory transfer fee, handling charges and/or brokerage might vary from cases to cases. For more information, please contact our client services team.
All oversea transactions are handled by our global subsidiaries in Monex Group. As we are using the custodian model, all oversea stocks will be held by our oversea subsidiaries on your behalf. You are the owner and the beneficiary of your purchased shares.
In regards to the tax-related questions, please consult with your tax accountant. You can download the end of financial year portfolio statement and financial year transaction summary from our trading platform. Simply log into your trading platform > Account History > Statement. All statements will be available there.
Once MONEX receives your US order, our system will immediately send it to our US agent for execution. Depending on the exchange that the stock is listed on, the size and availability of the order, your US stock orders might be filled on a stock exchange (including NYSE, NYSE Arca, NYSE MKT and NASDAQ), on the Over the Counter Bulletin Board (OTCBB) or the Pink Sheets, or via a market specialist.
There is no restriction on buying and selling U.S. stocks on the same day – however you cannot use the proceeds from your sale for the purchase and must have sufficient funds in your cash account. This is due to regulation in the U.S. markets, where funds arising from a sale must be settled on T+2 (i.e. two trading days after the date of trade execution.)
All orders must be submitted either ‘At Market’ or ‘At Limit.’ Limit orders can be amended or cancelled as long as the order has not already been executed.
Market orders – will be submitted into the market at the next best available price, however the price is not guaranteed. Market orders cannot be placed outside of market hours or when trading in a particular stock is suspended.
Limit orders – allow you to set a price for your buy or sell order. If the price does not reach your limit price, the order will not be executed. You can place a limit order at any time, regardless of whether the market is open or closed.
When placing a Market Buy Order, funds will be withheld based on the “Upper Limit Price”. The excess funds withheld will be released after the order is executed. For Hong Kong and US markets, the “Upper Limit Price” is based on the stock’s current ‘ask’ price plus a certain margin determined by MONEX from time to time. For other markets, the “Upper Limit Price” is based on the stock’s previous closing price plus its “daily maximum price fluctuation”, which is determined by the respective stock exchange(s).
In general, you can use the sales proceeds to buy international stocks immediately after you have sold them. However, the U.S. markets do not allow cash account holders to use the sale proceeds until after settlement (T+2). Therefore, you must ensure you have sufficient funds in your cash account when purchasing U.S. stocks. Nevertheless, you can still use the ‘unsettled’ U.S. sale proceeds to buy stocks trading in other markets.
Whether you can buy and sell a particular stock on the same day depends on rules set by the exchange. You are not allowed to buy and sell the same stocks on the same day in China – A/B and Taiwan market. In U.S market, your proceeds cannot be used for any Buy transaction until it’s settled on T+2.
Account notifications & Statements
Trading statements are available to download in the trading platform. You will need to login to your trading platform, on the top menu select “Account History” – “Statement”. Daily statements will be available in T+1, monthly statements will be able early next month.
You will receive the following email notifications: Instant trade confirmation – you will get a confirmation email right after your order is executed. Corporate action entitlement notices – including cash / script dividend, bonus share, rights issue, stock consolidation / conversion / subdivision, warrant expiry, etc.
You will receive a trade confirmation by email for each trade execution. In addition, we will send you a Daily Activity Statement (also serves as contract note) on the following business day with a summary of your trading activities of the day.
No. There is no need to convert your funds into the settlement currency before placing an order. Any currency conversion will be done for you after your buy order is executed.
Yes, the foreign exchange rate is low. Monex trading account supports 6 currencies (AUD, USD, HKD, CNY, SGD, JPY). When you decide to sell international shares, the settled fund will be credited into your trading account in the corresponding currency for your next trade. You can definitely avoid the extra foreign exchange conversion fee and benefit from Monex trading account if you are trading in international markets frequently.
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