nabtrade review

• nabtrade is a dependable online broker that provides access to Australian and international stocks.
• Tiered service levels for experienced traders and beginners.
• Competitive brokerage fee but some newer online brokers may be cheaper, especially for trading US stocks.

If you wish to invest in stocks, an online share-trading platform can provide you with a relatively inexpensive and straightforward way to access the sharemarket. In Australia, there are plenty of share-trading platforms with different features and fee structures, providing access to local and international stocks and various other financial instruments.

With so much choice, finding the right online stockbroking platform with access to the global market and reasonable fees could be challenging.

Below you will find an in-depth nabtrade review covering everything you need to know about the platform. Whether you are a beginner or someone looking for a premium trading experience, this review will help you decide whether or not nabtrade is the right stockbroking platform for you.

About nabtrade

nabtrade is NAB's online share-trading platform launched in 2012. The service is provided by WealthHub Securities Limited (ABN 83 089 718 249, AFSL No. 230704), a wholly-owned subsidiary of National Australia Bank Limited.

Who is nabtrade designed for?

nabtrade is considered suitable for beginners and advanced traders alike. It offers an intuitive user interface and tiered service levels tailored to your trading activity. The brokerage fee is low, and the platform provides abundant research tools and market reports to help you trade confidently.

It offers access to trade a wide range of assets on both domestic and international market access.

You also get a fully integrated cash account when you sign up on nabtrade that can be funded through instant transfers from your linked NAB accounts or fund transfers (including BPAY payments) from other bank accounts.

When you sign up on nabtrade, you get complimentary access to the Silver service level for three months. After this initial period, you can upgrade to a higher service level for free if you meet the eligibility criteria or pay an additional monthly subscription fee.

Here’s an overview of their tiered service levels:

Key features

• One log-in with access to more than 10,000 securities across instruments such as shares, bonds and managed funds.
• Trade domestic and international shares online from $14.95.
• Benefit from a comprehensive range of market research reports for making informed trading decisions.
• Get access to premium charting company research and charting tools depending on your subscription tier.
• Trade through your phone or tablet device using nabtrade IRESS that allows you to monitor market data in real time.
• Earn a variable 0.40%pa on your cash - on balances up to $1 million.
• Customer support is available through phone and email.

Tradable assets

You can access a wide range of trading instruments on nabtrade, including:

• Australian shares.
• International shares (stocks listed on US, UK, Hong Kong, German stock exchanges).
• High-interest account.
• Exchange-traded funds (ETFs).
• Exchange-traded options.
• Hybrid securities.
• Listed investment companies.
• Warrants.

Trading fees

There is no account-keeping fee, but they charge a $14.95 brokerage fee per trade on the platform. If the trade size is above $5,000 but less than $20,000, you'll pay a higher brokerage fee of $19.95.

For trades over $20,000, 0.11% of the trade value is charged as brokerage fee.

Trades made over the phone attract a brokerage fee equal to the greater of $59.95 or 0.55% of trade value.

If you trade international shares, you'll also pay a currency conversion fee equal to 0.50 to 0.80% of the trade value on top of brokerage fees.

How nabtrade compares to other trading platforms

nabtrade's straightforward user interface makes it simple to sign up and use the platform, but it is not as simple as mobile-first trading platforms like Superhero or Stake.

A tiered service level means different types of traders can find a tier that suits their interest and trading style with access to premium market research.

For those just starting out, the free service tier provides basic information like market data, charting tools and company announcements for making informed trading decisions. There's also the nabtrade academy with a wealth of information, tips and tricks to help new investors learn the ropes.

The fee structure is relatively cheap, with a flat $14.95 brokerage fee for trades up to $5,000 in value. Smaller investors, however, may find it cheaper to trade elsewhere. For instance, you only pay a $10 brokerage fee on trades up to $1,000 on CommSec, but it increases to $19.95 for transactions valued between $1,001 to $10,000.

For those interested in trading international shares, nabtrade gives you access to shares listed in the USA, Germany, London and Hong Kong, but you can’t access other global markets. That's more than a platform like Tiger Brokers but less than IKBR.

If you only wish to access stocks and funds in the US markets, Stake might be a cheaper option to explore, with no brokerage fee charged to users. nabtrade also charges you an inactivity fee of 0.50% of your portfolio on international shares if you don't make any transaction in a year.

Alternatives

Here's a list of the popular online share-trading platforms with competitive fees and features.

• eToro. Trade shares, ETFs, crypto and more across international markets. eToro also offers social trading that lets you mimic trades of experienced investors on the platform.
• Stake. Trade US shares and ETFs with zero brokerage fee charged to users.
• CMC Markets. Trade overseas stocks without paying brokerage, and ASX-listed stocks starting at $9.90 brokerage for active investors.
• SelfWealth. A sophisticated trading platform that charges a flat fee of $9.50 to trade in Australian and US shares.
• Bell Direct. If you wish to limit your exposure to the Australian market, Bell Direct gives you access to ASX-listed investment products for low brokerage fees. Besides individual traders, Bell Direct also accepts self-managed super funds (SMSFs), trusts and companies as clients.

Comparisons

For a more detailed comparison of nabtrade against competing brokers.

• CommSec vs nabtrade
• nabtrade vs Bell Direct
• nabtrade vs CMC Markets
• nabtrade vs CommSec Pocket
• nabtrade vs eToro
• nabtrade vs Interactive Brokers
• nabtrade vs Moomoo
• nabtrade vs SelfWealth
• nabtrade vs Sharesies
• nabtrade vs Stake
• nabtrade vs Superhero
• nabtrade vs ThinkMarkets

FAQs

How do you register for a nabtrade account?

Visit the nabtrade website and select 'Join' to create your trading account on nabtrade. You'll need to answer a few questions about what type of account you'd like (individual, joint, company or SMSF) and whether you'll trade with a nabtrade cash account or a NAB margin loan.

Next, you'll be asked whether or not you are already a NAB customer. If you are an existing customer, you'll be asked to log in with your internet banking details. If you are not an existing customer, you'll need to complete an ID check to set up your nabtrade trading account.

How do you fund my nabtrade trading account?

When you open a new nabtrade account, you get a linked cash account in addition to domestic and international trading accounts. You can instantly transfer funds into this cash account from a linked NAB Bank account by selecting 'Cash'> 'Make a funds transfer'. You can also BPAY funds into your cash account from any bank account that supports BPAY transfers.

If you don't want to use a linked account, it's possible to push money into your cash account from any NAB or non-NAB bank account using your cash account's BSB number and account number. It may take one or more days for funds to appear in your cash account when you transfer using this method.

If you wish to withdraw money, go to 'Cash'> 'Make a funds transfer' to transfer unlimited amounts instantly to any linked nabtrade or NAB Bank accounts. You can only transfer up to $20,000 per day if you transfer money online to an external account.

If you want to transfer more than $20,000 to an external account, you can contact 13 13 80 for information.

Does nabtrade have an app?

Yes, the nabtrade mobile app is available for Android and iOS users, making it seamless for you to invest on the go.

Can you use nabtrade without a NAB account?

You don't need to be an existing NAB customer to use nabtrade. You can select 'Join' on the website to create your nabtrade account without an existing NAB account, but you'll need to complete an ID check before your account is approved.

Is nabtrade a CHESS-sponsored broker?

Yes, nabtrade is a CHESS-sponsored broker, which means the shares you purchase through nabtrade are owned by you. Read this helpful resource published by the Australian Securities Exchange to understand the benefits of investing with a CHESS-sponsored broker.

What is nabtrade IRESS Viewpoint?

nabtrade IRESS Viewpoint is a next-generation active trader platform that gives you access to real time live and dynamic pricing updates for Australian shares, ETFs and warrants. You can access nabtrade IRESS Viewpoint for a professional trading experience at no additional cost through your existing nabtrade trading account.

Verdict

nabtrade is a competitive online share-trading platform with standard brokerage fees and a wide range of securities across multiple markets. The fact that it is owned by one of Australia's Big Four banks means it is about as trustworthy as it gets. It also offers extensive market reports and tools and free tutorials on the nabtrade academy for beginners.

You may, however, have to pay an additional fee for accessing real-time market information and premium charting features unless you are an active trader qualifying for a free membership upgrade.

It's also worth remembering that trading share and other equity-based instruments are fraught with market risk irrespective of the online broker you choose.

A good online broker with sophisticated market reports and charting tools can help you minimise your risk by providing you with updated information, but it cannot mitigate your risk. So, it’s worth selecting two or more features that are important to you in a trading platform and then choose a platform accordingly to make informed trading decisions.