Monex Securities Australia, the Australian brokerage subsidiary of Monex International Group, announced this Tuesday that it has become the latest firm to offer commission-free stock trading for 11 international markets, including the United States and most of Asia.
Commission-free trading for stocks, although still a relatively new concept in the foreign exchange (forex) and contracts-for-difference (CFD) space, is starting to be adopted by more and more brokers, not only in Europe but globally, as part of a diversified offering.
However, Monex’s offering today for its Australian investors takes this one step further, as it not only offers the free brokerage services for investors who want to buy and sell international shares, but also for other listed investment instruments, such as ETFs.
Monex Securities Australia Prompts Aussie Investors to Trade Abroad
According to the statement, Monex Securities Australia has launched its free brokerage service for 11 international markets to encourage Australian investors to trade outside of Australia.
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Aside from the United States, other markets where the free brokerage service is applicable includes China, Hong Kong, Japan, Singapore, Taiwan, South Korea, Malaysia, Thailand, Indonesia, and the Philippines.
Commenting on the decision, Alex Douglas, managing director at Monex Securities Australia said: “We know that high cost is one of the reasons why many Australian investors are not buying or selling international stocks, and we want to change that.”
Following the launch, the firm’s Aussie traders can now buy shares in top companies such as Apple, Amazon, Facebook, Google, Sony, Hyundai, PCCW, in addition to another nearly 50,000 other stocks without paying brokerage fees.
“The Australian market accounts for considerably less than 3% of global market capitalisation. Australian investors are missing out on a huge range of investment opportunities by not investing in offshore markets,” Douglas added.
“With this free brokerage offer we’d like to encourage Australian investors to widen their investment horizon and take advantage of international investment opportunities, particularly in the US, which remains one of the largest markets in the world,” he continued.