Trade For Good Pty Ltd Stock Broker Review: A Comprehensive Guide
Overview and General Information
Trade For Good is an online trading platform that distinguishes itself by donating 50% of its brokerage fees to charitable organizations. This unique model sets it apart in the financial services industry, appealing to investors who seek to align their investments with their values and make a positive impact. The company was established with the mission to make trading more sustainable by supporting social and environmental causes.
While information on certifications and licenses held by Trade For Good is not explicitly available on their website, they emphasize being 100% Australian-run, suggesting adherence to local regulatory standards.
Products and Services Offered by Trade For Good Pty Ltd Stock Broker
Details of Main Products
Trade For Good specializes in trading services for shares and exchange-traded funds (ETFs) on two major Australian exchanges: the Australian Securities Exchange (ASX) and CBOE Australia (CBOE). Their platform utilizes advanced trading software, incorporating both IRESS and Novus Fintech technology, to provide a seamless and efficient trading experience.
Additional and Special Services
- Mobile Application:The Trade For Good mobile app is available on both Apple and Android devices, offering a range of essential trading tools. Users can access real-time charts, company news, market depth data, portfolio management functionalities, and execute trades directly from their mobile devices.
- Web Version:The web platform provides users with customizable layouts and pop-out windows for in-depth analysis. Traders can perform both technical analysis using charts and indicators, and fundamental analysis using company information and news.
- Educational Videos:Trade For Good recognizes the importance of educating its users and provides a library of informative videos covering various aspects of the platform. These videos range from first-time login procedures to more advanced topics like adding drawing tools to charts.
- Dynamic Charts:The platform offers comprehensive charting capabilities with 112 indicators, 54 drawing tools, 7 different chart types, and 12 time periods. These features provide users with a wealth of analytical options to support their trading decisions.
- Security Measures:Trade For Good prioritizes the security of its users' accounts. The platform employs two levels of security: a password and a security PIN. The PIN is required for placing orders and making any changes to the account, providing an additional layer of protection against unauthorized access.
- Portfolio Management:The software dynamically updates portfolios with real-time price movements, allowing users to track their performance and monitor their investment positions. It displays both profits and available cash for easy monitoring and decision-making.
- Alerts:Users can configure alerts to receive timely notifications on their mobile devices and email accounts. These alerts can be set for trade execution, price changes, and relevant news updates, ensuring users are kept informed of important market developments.
Product Features and Conditions
Key Attributes and Requirements
- Brokerage Fees:Trade For Good stands out for its lower brokerage fees compared to leading online brokers. For a $8,000 trade, the brokerage fee is $9.45, excluding the ASX trading and settlement fee. Moreover, 50% of the remaining fee is donated to the chosen charity, making it a more socially responsible option.
- Charity Donations:The platform facilitates donations to registered Australian charities listed on the Australian Charities and Not-for-profits Commission (ACNC). This ensures that donations are directed to reputable and impactful organizations.
- Trading Software:Trade For Good leverages Novus Fintech technology for its trading software, enabling a seamless trading experience across various devices. This ensures that users can access and manage their investments from their preferred platform, whether it's a desktop computer, mobile phone, or tablet.
- Client Onboarding:Trade For Good utilizes the latest technology in client onboarding, trading software, order execution, and back-office products. This commitment to modern technology translates into a streamlined and user-friendly experience for clients throughout their trading journey.
Contact Channels and Customer Support
Contact Methods
- Email:Trade For Good provides an email address for users to reach their support team for assistance with inquiries and issues.
- Phone:While the website does not explicitly mention a phone number, it's recommended to check their website or contact information for the most up-to-date contact details.
- Chat:The website currently does not mention a live chat feature.
- Branch Locations:As an online platform, Trade For Good does not have physical branch locations.
Service Hours and Support Quality
The website does not provide specific service hours or details about the quality of customer support. However, they emphasize the helpfulness and responsiveness of their team, implying a commitment to providing a satisfactory client experience.
Pros and Cons of Trade For Good Pty Ltd Stock Broker
Pros
- Donation to Charities:Trade For Good's unique model of donating 50% of its brokerage fees to charities sets it apart as a socially responsible investment platform. This appeal to investors who prioritize ethical and sustainable investing practices.
- User-Friendly Software:The platform utilizes market-leading trading software from Novus Fintech, renowned for its intuitive design and accessibility. The platform is available on both mobile and web platforms, ensuring a seamless trading experience regardless of user preference.
- Educational Resources:Trade For Good provides educational videos to support user understanding of the software and trading processes. This commitment to education enhances transparency and empowers users to make informed trading decisions.
- Partnerships with Charities:Trade For Good partners with reputable charities such as Variety – the Children’s Charity and Pancare Foundation, ensuring that donations directly benefit worthy causes. This transparency and association with respected organizations further solidify the platform's commitment to social responsibility.
Cons
- Limited Product Range:Trade For Good's focus solely on shares and ETFs might limit its appeal to investors seeking a wider range of financial products. For example, users seeking access to foreign exchange, futures, or options trading would need to explore other platforms.
- No Phone Support:The absence of phone support on their website might be a drawback for some users who prefer a more immediate and personal method of communication. While email support is available, phone support can be more convenient for time-sensitive queries or complex issues.
- Limited Information on Certifications:The lack of specific information on certifications and licenses held by Trade For Good might raise concerns for some investors regarding regulatory compliance. Transparency in this area is crucial for building trust and confidence in a financial institution.
Summary of Trade For Good Pty Ltd Stock Broker Review
Who is it Best Suited For and Why
Trade For Good is a compelling choice for individuals who seek to align their investments with their values and make a positive impact through their trading activities. It is an ideal platform for investors who prioritize social responsibility and are willing to support charitable causes through their brokerage fees.
The platform is also well-suited for institutional traders and financial advisers who can leverage its institutional trading products and services. These professionals may find the platform's unique donation model an attractive differentiator and a way to showcase their commitment to social good.
Final Thoughts on Value and Choosing the Company
Trade For Good offers a distinctive value proposition by seamlessly integrating trading services with charitable donations. While it may not be the cheapest option in the market, its commitment to social responsibility and user-friendly software make it an attractive choice for investors who prioritize these aspects.
The platform's transparency in its donation process and its partnership with reputable charities further enhance its credibility and appeal. If you are an investor who seeks a socially conscious trading platform with a user-friendly interface, Trade For Good is worth considering.
Frequently Asked Questions about Trade For Good Pty Ltd Stock Broker
- How Do Donations Get to Charities?
Trade For Good follows a transparent donation process. After all trades are executed, brokerage fees are calculated, and the numbers are reconciled for the month, 50% of the remaining brokerage fee is transferred to the designated charity. This ensures that donations are made consistently and based on actual trading activity.
- What Can You Trade?
Trade For Good offers trading services for shares and ETFs on the ASX and CBOE markets. This allows users to access and trade a broad range of Australian securities within these two major exchanges.
- How Do I Login to the Mobile App the First Time?
Trade For Good provides a helpful video guide on their website that covers the first-time login process for the mobile app. This comprehensive guide includes steps for welcoming emails, downloading and installing the app, setting a password and PIN, accepting agreements, and completing the initial login. This ensures a smooth and user-friendly onboarding experience for new users.
- When Does the Cash Balance Update into the Software?
The cash balance typically updates around 9:30 AM AEST once a baseline balance is established. From that point forward, the cash balance updates dynamically throughout the trading day, reflecting real-time changes in positions and transactions.
- How Do I Add Drawing Tools to a Chart?
Trade For Good provides a step-by-step video guide on their website that demonstrates how to add drawing tools to charts. This guide includes instructions for maximizing charts, adding indicators, deleting indicators, adjusting indicator settings, and saving custom layouts for future use. These features enhance the platform's analytical capabilities, allowing users to personalize their charts for effective trading decisions.
Key Takeaways
- Trade For Good Pty Ltd stands out as a unique stock broker by combining trading services with charitable donations.
- It offers a user-friendly platform with advanced features such as mobile trading, educational videos, and dynamic charts.
- While the limited product range and lack of phone support might be downsides for some, its commitment to social responsibility and innovative features make it an attractive option for investors who prioritize these aspects.
