As Commonwealth Securities are starting to get American IPOs–first SpaceX and now Anthropic–I thought it would be a good idea to open an international share trading account with them. As we have three accounts with Interactive Brokers, where it is cheaper to trade, I never wanted an international account at CommSec up till now. But when I tried to apply online, I got a message that I was ineligible. That's weird, I thought. Our SMSF has a CDIA (CommSec cash account), which is needed to have an international account, and so it should be eligible. After emailing the brokerage and getting a response that I should phone instead, and then waiting on the phone for 45 minutes, I got the answer. I have a dormant Australian shares trading account, which I opened in the 1990s and was linked to an Adelaide Bank Cash Management Account. I closed the Adelaide Bank account in 2020 and this "suspended" this dormant trading account and blocked me from opening an international account. The guy on the phone took me through the steps of closing the account, so that request is now submitted, and hopefully I will then be able to open the new account.
No comments:
Post a Comment