Keep your cash working between investments
While you need to have a CMC Markets Cash Account to trade online with InvestSMART, there are many other good reasons to open one.
Your cash account is held with BankWest and operated by CMC Markets Stockbroking. It offers you a competitive variable interest rate, calculated on your daily balance and credited to your account each month. And there are no account or government charges, so you can spend less on fees and more on investing for the future.
You just need a minimum balance of $2.00 to keep the account alive. And the more you have in your account, the better your interest rate. That makes the account even more rewarding
Three good reasons to open a CMC Markets Cash Account
- Put your cash to work: Your cash account is your investment hub — a place to park capital gains and dividends between investments, as well as a convenient transaction account. So it’s important to put your cash to work between investments, with a competitive interest rate that grows with your cash.
- Save on fees: There are no government or account-keeping fees, so every cent you deposit goes towards building your wealth.
- Streamline your trading: CMC Market’s Cash Account is linked to your trading account so you can take advantage of their online brokerage rates and streamline your trading with hassle-free settlement, every time you trade.
How much will you earn?
The CMC Markets Cash Account interest rate depends on the balance of your account. Here are the current cash rates:
|Account balance||Interest rate|
|$0 to $9,999||0.05%|
|$10,000 to $19,999||0.05%|
|$20,000 to $49,999||0.10%|
|$50,000 to $199,999||1.85%|
|$200,000 to $499,999||2.45%|
|$500,000 and above||2.70%|
|Current on 9 May 2013. Read the Product Disclosure Statement for current rates.|
How to open a cash account
Any Australian resident with a valid Australian address can apply for a CMC Markets Cash Account. Opening an account is easy:
- Download, print, and send us an application form, together with a copy of your ID documents.
- We’ll be in touch as soon as your account is open. Then you can deposit your cash and start trading.