FAQs


　

Trading

Q. On which stock markets can I trade?  

Through MONEX, you can trade over 50,000 exchange listed securities of 12 markets, including: USA, Australia, China, Japan, Hong Kong, Taiwan, Korea, Indonesia, Malaysia, Philippines, Singapore and Thailand.

Q. How much does it cost to trade shares?

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.

Q. When can I use the sales proceeds to buy stocks again? 

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+3). 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.

Q. What is the difference between Bid and Offer prices?

 A Bid is the price selected by a buyer to purchase a stock, while the Offer is the price at which the seller is offering to sell the stock.


U.S. Trading

Q. How does MONEX execute my U.S. orders? 

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.

Q. Can I buy US stocks after selling them? 

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 + 3 (i.e. three trading days after the date of trade execution.)


Order Types

Q. What is the difference between a market and a limit order?

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. 

Q. How much of my funds will be withheld for a market order?

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). 


Account notifications & Statements

Q. What type of account notifications will I receive?

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.

Q. How will I be notified of Trade executions?

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. 


Currencies conversion

Q. Do I need to convert funds into the settlement currency before placing an order?

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.  


Funds Management

Q. How do I deposit funds to my trading account?

You can deposit funds to your trading account via Bank Wire, POLi or BPAY.  To fund your account, login to your Client Portal, select "Cashier" > "Make a Deposit" and select your funding method.

Q. What are your banking details?

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
BSB: 062 009
A/C #: 10931505
SWIFT Code: CTBAAU2S

The bank address is only provided for depositing funds by wire or telegraphic transfer. DO NOT mail a cheque or bank draft directly to the bank or deposit funds directly.

Important: We do not accept third party transfer or third party cheques. We also do not accept cash deposits. 

Q. Does the Monex charge me any fee for withdrawing funds?

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.

Q. How do I add designated bank account and give a withdrawal request?

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:

  1. Login to your Client Portal;
  2. On the left side, select "Cashier" > "Make a Withdrawal" > "Make a Withdrawal";
  3. You can transfer funds to any bank account under your name, but payment to a third party is not permitted.


Account Management

Q. How do I open a trading account to start investing in international shares?

To open a trading account with us;

  1. Register your email and personal information on "Register" page. We will send a confirmation email to your email address;
  2. Click the verification link found in the email and continue online application in your Client Portal;
  3. 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.

Q. How can I change my Login Password?

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.

Q. I've forgotten my login password and how can I reset it?

You can reset your password online;

  1. Go to Login Page and click "Forgot Password";
  2. Enter your registered email address and Captcha Code displayed on the page;
  3. You will receive a "Reset Password" email and you can create a new password by clicking the link found in the email.

Q. How can I change my contact or account information?

To change your name or 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 services@monexsecurities.com.au.

Q. How do I transfer securities into or out of my Monex Account?

Please complete and sign a "MONEX Off Market Transfer Form" and mail the form to us. We will process the transfer according to your instruction.

Obligatory transfer fee and/or handling charges will be charged to your account upon receiving your completed securities transfer instruction. 

Please note that the time involved in transferring the securities to MONEX will depend on the delivering broker.


Technical

Q. What browser do I need to best view Monex Australia's trading platform?

For the best online experience, here are the browsers and operating systems we recommend:

Browser Windows XP or above Macintosh 10.4 or above
Microsoft Internet Explorer 9.0 or above Not Supported
Mozilla Firefox 16.0 or above 16.0 or above
Google Chorme 22.0 or above 2.0 or above
Apple Safari 6.0 or above 6.0 or above

If you are using an older version of browser, you can still access information on MONEX website, but some information may not display properly. You may also find browsing MONEX website relatively slower and you may not able to fully utilize all features.