Macquarie Edge Review

Review - Macquarie Edge

Product launched 26 August 2009. Review published 15 February 2010. Please read our disclaimer.

Macquarie Edge is a new trading platform that aims to meet the needs of self-directed investors, by clearly and simply bringing together the information and tools an investor needs to trade with more confidence.

As well as bringing together news, research, insights, company profiles and financials to help users make informed investment decisions, Macquarie Edge also provides access to Macquarie's research of more than 230 ASX listed stocks, developed by a global team of award-winning analysts and strategists. The reports, normally supplied to institutional clients, are condensed into easy to understand articles, which can assist traders as they make investment decisions.

Inspired by the rise of social networking and research which has shown that many investors are now basing their investment strategies on advice received from family, friends and colleagues, Macquarie Edge has introduced a unique "community" function into the world of online trading.

The community feature allows Macquarie Edge users to engage with their group of trusted contacts to discuss market and stock insights, and view trading activity. With this type of insight the user can see long and short term investment strategies and benchmark their own portfolio.

Understanding the market and what is affecting stocks both directly and indirectly can be challenging for new investors who are trying to familiarise themselves with the sharemarket. Macquarie Edge's intuitive search functionality groups news articles and research which are associated with the searched stock to keep users up to date. For instance, a search on Woolworths may return results about the broader sector and Woolworths' main competition across the retail market sector, Wesfarmers.

Of course these features would have only limited value without a useful trading platform, which Macquarie has ensured backs the other features. With charting packages, alert systems and the ability to keep online records, users can benefit from a range of features supported by the core functionality of an online share trading platform.

WHO DOES IT SUIT?

Macquarie Edge is targeted at a broad range of investors – from those just starting out or trading infrequently, to experienced self directed traders and investors. Macquarie Edge has been developed, providing three user levels, to meet the differing needs of self-directed investors.

For users new to online trading, taking the first step can sometimes be the hardest. With Macquarie's no obligation-free membership, people new to online trading can become a member, familiarise themselves with the market and keep track of stocks before opening an account.

Experienced traders will benefit from the easy-to-use trading process and the expert knowledge available. The numerous tools available will ensure they are kept up to date with news affecting their stocks or their sectors of interest.

USEFUL LINKS

HOW DOES IT WORK?

There is no cost to become a member of Macquarie Edge. From the start you will have access to base level market information and some of the core functionality. To gain access to purchasing/selling shares, further functions and tools you will need to become a member.

Once you have become a member, you have the opportunity to open an account. Depending on your level of balance or trading activity you will receive certain accesses.

See below for a break up of the different membership levels and fees applicable*:

Money sitting in a trading account without earning interest defeats the purpose of having an investment account. Macquarie understand this and has arranged for all funds that are sitting in transit, either due to a pending purchase or proceeds from a sale, to still earn interest. The interest rate applied is tiered based on account balance and should you have more than $250,000 sitting in your account you will currently earn 2.5%p.a.

FEATURES*

Competitive brokerage rate of $18.95 for only five trades a month
Access to Macquarie’s research of over 230 ASX listed stocks, developed by a leading team of award-winning analysts and strategists, presented in an easy to read format for direct investors
The aggregation of news, research, insights, company profiles and financials to help users make informed investment decisions
A unique community functionality which enables clients to share information about trading and the market with their selected friends and colleagues
A three-step order process to eliminate the stress sometimes associated with placing a trade
Trading in real time
Ability to record trading notes within the platform
A tailored and personalised interface
Advanced interactive charting tools for technical analysis for frequent traders
Alert capabilities via SMS and email to advise of price triggers or news articles
Ability to trade ASX Shares, Warrants and Exchange Traded Funds

*Additional terms, conditions and qualifications apply

THINGS TO CONSIDER

For low volume traders the brokerage fee of $28.95 is a premium fee compared to other providers but put into context of trading volume v size of trade, it is still a minimal charge. e.g. 10,000 shares bought at $0.50 would only need to gain $0.0028 to recover the brokerage fee.
Live ASX data is only available to Frequent and Preferred Clients, with all other membership levels having a 20 minute delay. Frequent and Preferred Clients have greater frequency of trading in comparison to the other membership levels. The delay may be justified, as live data may not be as necessary for a trader with a predominant focus on a long-term strategy.

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