To settle your trades on Opentrader, we link your trading account to one of the following cash accounts with our approved providers:
- ANZ Cashactive Account
- Macquarie Cash Management Account (CMA)
This is because we need a daily file feed from the banks to integrate the account with the Opentrader platform. Banks will only provide this for professional cash account products.
The integration allows for a seamless trading experience ⚡️
Linked cash accounts speed up trading and settlement
We display your daily cash balance on the Opentrader platform so you know where you’re at. Our system also checks your balance before you place a trade. This automatic vetting prevents accidental trades and/or buying stock where you have insufficient funds. Having this pre-trade vetting system also supports straight through processing or direct market access, allowing for fast execution.
A linked cash account also allows for real-time settlement on T+2, meaning debits and credits are processed immediately on settlement date, reducing your chances of being charged failed settlement fees.
For anything else
If you have any questions or need help, don't hesitate to get in touch 🙋
You can reach us on live chat or over the phone on 1800 OT TEAM (1800 688 326 or +61 2 9055 4400 for overseas). We're available between 9:00 am and 5:00 pm (Sydney time), Monday to Friday. If we're away, just send us a message and we'll get back to you.