OneTrade Stockbroking, founded in 2004 by Michael Giles at the age of 20, is taking on the big banks and financial institutions by offering cheap online brokerage rate in Australia.
A move which is sure to upset most in the industry, OneTrade Stockbroking can now unofficially claim the title of the cheap online broker in Australia.
Investors can trade shares online for a $17.95 for trades up to $30,000, which according to Michael Giles, is cheap and a first in the industry.
According to OneTrade Stockbroking, online brokerage at this price is cheap, and because they are privately owned, they can afford to offer such a good deal to stock market investors and traders.
Not only are its prices cheap, but the online trading platforms they offer are up there with the best of them.
31-Aug-2007