Cash Account

What is the Cash Account?

The Cash Account is a money market account held with the Bank of Western Australia (BankWest), and managed on your behalf by CMC Markets Stockbroking.

The Cash Account is the easiest way to settle your purchases and receive funds from your sales. You can also arrange to have all of your dividends to be paid directly into the account.

The account pays a competitive interest rate - one of the best available amongst Australian brokers. This makes the Cash Account an ideal place to park your spare money in between other investments.

Fees, charges and minimum balance

The Cash Account has no account keeping or other fees and no minimum opening or ongoing balance. Every cent you deposit is working for you and available for you to invest.

What is the current interest rate paid by the Cash Account?

Interest is paid on a scale according to the balance in the account. Interest is calculated daily and paid monthly. Here are the current rates:

How do I deposit or withdraw funds?

Deposits can be made by cheque, direct deposit or BPAY. Withdrawals can be made by contacting us and requesting funds be transferred to a linked bank account or by cheque.

Want to learn more about the Cash Account?

To learn more about the Cash Account, you should read the Product Disclosure Statement.

Self Managed Super Funds Account

What is a Self Managed Super Fund?

A Self Managed Super Fund (SMSF) is a fund which meets the SMSF criteria as defined by the Australian Tax Office (ATO) and is registered with the tax office.

SMSF Accounts at InvestSMART?

A SMSF Account is a trading account created in the name of a registered SMSF. These accounts can be used for investing online and by phone.

To open an account, your SMSF must already be registered with the ATO. If you have not yet registered your SMSF, we suggest you refer to the information on the ATO Website and seek independent advice.

Once you have your SMSF and have opened your SMSF Account, CMC Markets Stockbroking offer a wide range of investment products that might be suitable for the investment objectives of your fund, including shares, options, warrants, interest rate securities and a range of managed funds.

At the end of the financial year, the Confirmations page on the platform will help you to download details of all your trades for the year which will be very helpful at tax time.

CHESS Sponsorship

What is CHESS?

CHESS stands for Clearing House Electronic Sub-register System. Instead of issuing a physical share certificate, CHESS records an account's share ownership via the ASX's computer-based share and settlement transaction system. An account's security holdings are recorded against their HIN and a statement is sent out to their registered address.

What is a HIN?

HIN stands for Holder Identification Number. It is the number by which CHESS identifies your account and registers your holdings. It also identifies the broker you hold the securities with. You will be provided with a HIN when you request to be CHESS sponsored with CMC Markets Stockbroking.

I have a HIN with another broker. Can I trade these shares through my account?

You will need to transfer holdings from your other broker before they can be sold through CMC Markets Stockbroking. You can transfer individual holdings or your whole HIN, which will transfer all holdings. When you open an account with CMC Markets Stockbroking you will be asked if you have holdings you wish to transfer, otherwise you can complete the Transfer Chess Holdings form

How long does it take to transfer my securities from another firm?

Your broker is required by the Australian Securities Exchange to transfer in 2 business days. Delays may be experienced if the spelling of your name or other details do not match exactly, so be sure to provide the information exactly as it appears on your CHESS statement.

I have some issuer sponsored shares. How can I transfer them to my CMC Markets Stockbroking account?

If your shares are sponsored by the issuing company, you may wish to transfer them to be CHESS sponsored by CMC Markets Stockbroking (note that in order to sell shares online they must be CHESS sponsored by them). Complete the Issuer Holdings to CHESS Conversion form

Note that you can only transfer into an account of the same name as the issuer sponsored statement. Transferring into a different name is treated as an off-market transfer and may be subject to fees and/or government charges. For example, if the holdings are in the name Mr J Smith, you cannot transfer them directly into the account Mr and Mrs J Smith. Please call 1300 136 323 if you have any questions about CHESS transfers.

Want to learn more about CHESS?

To learn more about CHESS, you should read the ASX's CHESS Brochure

Margin Lending Accounts

What is a Margin Lending Account?

A Margin Lending Account is a share trading account linked to your margin lending institution of choice. All orders on the account are settled by your margin lender (as long as you comply with their limits and any restrictions they place on your loan facility).

Margin Lenders allow you to borrow money for the purchase of shares – usually they will lend up to a certain percentage of the purchase value and you will make up the remainder.

What margin lenders can I use with CMC Markets Stockbroking?

Because CMC Markets Stockbroking is independent, they can deal with most margin lending firms in Australia.