Frequently Asked Questions (FAQs)

Fees and Charges

There are no charges for opening an amscot account.
No monthly fees are charged for amscot Phone accounts.
amscot Online accounts will attract a monthly access fee, if clients do not complete 15 trades each month.
Unlike many brokers using IRESSTrader, amscot Online does not charge ASX royalty fees.
A full list of our fees and charges can be found here.

Payments and Settlement

No. Payment with cash is not permitted.

amscot Online clients will automatically have the funds owing for stock purchases withdrawn from their cash management account upon settlement.

amscot Phone clients are required to pay using any one of: BPay, cheque or direct debit.

It is important to know that, when they place their purchase order with amscot, clients need to be totally confident they can meet their payment obligations on the settlement date.

Settlement is the process of exchange of payment for delivery of stock, handled by us as broker for the client. The Settlement Date for the delivery of stock by the seller and payment of funds by the buyer is referred to as T+2, ie 2 business days after the trade date.
CHESS is the computerised share registry and settlement system operated by ASX. It manages the share ownership records of ASX-listed companies. Under CHESS, clients can be sponsored by a specific stockbroker participant of ASX.
A HIN is a unique number allocated by CHESS to each CHESS-sponsored client. You will be issued with a HIN when your amscot Stockbroking account is opened. All of the shares you purchase on market through amscot will be registered under your HIN, with State One Stockbroking Ltd.
All broker participants of ASX must make payment of sale proceeds in accordance with the ASX Business Rules, which require payment on settlement date, ie T+2. This means that payment will be made three business days after the Transaction Date. For example if you were to sell stock on Monday then State One as your broker will transfer the funds after deducting brokerage on Thursday. These funds will then be available for you to use on Friday.
All clients must make payment for stock purchases upon settlement date, referred to as T+2. This means that payment must be made three business days after the Transaction. For example if you were to purchase stock on Monday, then the broker must receive payment including brokerage from you on the following Thursday.

Orders & Trading

You may trade fully paid ordinary shares, other types of equity or quasi-equity (such as preference shares, convertible or converting notes), company options and warrants, as listed on the Australian Securities Exchange. Please note that additional documentation will need to be completed if you wish to trade warrants, as these derivates products involve considerable additional risks to the client.

Yes, amscot Online orders can be placed, deleted or amended online by you at any time. "After hours" orders will be referred to a State One operator for approval before the market opens on the following business day.

amscot Phone orders can be placed on ASX business days during (and one hour either side of) the ASX market hours, which are 10am - 4pm Eastern Standard Time. Alternatively, an email may be sent at any time to:, although it is strongly suggested that the email is followed up with a reminder phone call.

No, you will only be charged if and when a part of your order is traded.

Please note that you may be charged the minimum brokerage on your order even when a very small portion of your order has traded

The minimum Buy order value is $500, before brokerage. This is an ASX rule. A sell order can be for as little as one share. Clients should carefully consider the consequences, if they are considering placing repeated orders for small volumes of shares, as this can be potentially be construed by ASX and ASIC as an attempt to manipulate the market.
Unless you have placed a day-only order, or an order of specified shorter duration, your amscot Online order will remain in the market for nine weeks after initiation. You can reduce the life of an unexecuted order at any time. Note also that orders can be purged by the ASX before the order is executed, as detailed below.

Your orders will be purged from the market when:

  • the order expires; (typically after nine weeks)
  • the order has been entered as a day-only order;
  • the order price is 60% away from the latest market price;
  • the security has been suspended;
  • the security had been delisted;
  • the security has been reconstructed;
  • the security has had a basis change of quotation (e.g. ex-dividend; ex-entitlement; ex capital return, etc.)
Straight Through Processing ("STP" or "Straight to Market") refers to the process where an order placed by an amscot Online client can (provided it complies with certain "filters" which we establish relating to order size and execution-price in relation to prevailing market price) go directly into the stock market without any further manual intervention by the executing broker, State One. Clients need to be aware that STP facilitates immediate trading, so you should place your orders with the utmost care. Please note that on occasion a slight delay may occur where an STP filter is breached and an amscot operator must first review the order before permitting it to enter the market. In some cases the order may be rejected and a reason will then be given by the amscot Online software.
Yes, amscot does offer contingent / stop loss orders, which involve no additional charge to the client. Clients do however need to sign the Contingent Order / Stop Loss Disclosure Statement before this service can be activated.
We offer: Traditional Contingent Order; Trailing Stop Loss; One Cancels Other; and If Done forms of contingent orders.
No, there can be no guarantees that such orders will in fact be executed as sought by the client. There will always be a risk that sharp market movements, lack of tradeable stock at the trading price sought or suspension of the stock will prevent a contingent / stop loss order from being executed as planned.
Yes, amscot Online clients with multiple accounts can have different accounts operating under different brokerage plans.
Yes you can, within reason, alternate between the amscot Trader and amscot Value brokerage rate.
You will be required to reinstate your order once the stock is reinstated to normal trading.
You will be required to reinstate your order once the stock is reinstated to normal trading.

Multi Markets

With the recent introduction of multiple markets in Australia, trading in Australian listed securities can take place on more than one venue. Chi-X Australia is a new trading venue which commenced operations 31st October 2011. Chi-X Australia is an alternative to ASX TradeMatch and currently provides trading in a subset of ASX listed securities only. Chi-X Australia does not support ETOs, or CFD trading at this stage.
ASX TradeMatch is the ASX’s primary trading venue for trading in Australian equities. Prior to the introduction of multi-markets and alternative trading venues (such as Chi-X Australia), ASX TradeMatch was the primary trading venue for all equity trading in Australia.
With the recent introduction of multiple markets in Australia, trading in Australian listed securities can take place on more than one venue. Chi-X Australia is a new trading venue which commenced operations 31st October 2011. Chi-X Australia is an alternative to ASX TradeMatch and currently provides trading in a subset of ASX listed securities only. Chi-X Australia does not support ETOs, or CFD trading at this stage.

Under ASIC Market Integrity Rule 3.1.1 (Competition in Exchange markets) 2011, amscot is required to take reasonable steps to obtain the best outcome for its clients when handling and executing orders in a multi market environment. This policy sets outs amscots approach to providing the best outcome for its clients and is available on our website at

Now that we are connected to the Chi-X Australia trading venue, we may automatically send all or part of your order to alternative trading venues to be executed to ensure you achieve the best outcome possible, in accordance with our Best Execution Policy.

For any other queries you may have about the Best Execution Policy, please call us on 1800 308 305

A cross trade occurs when a broker executes an order to buy and sell the same security at the same time, in which both the buyer and seller are clients of the broker.

A Cross Trade is represented by XT in the course of sales. If your order has been cross traded you will be able to view this on your confirmation contract note where it will be stated as 'Crossed'.

NBBO is an acronym for National Best Bid and Offer. The national best bid price is the highest price that all buyers are willing to pay for a particular stock, regardless of the trading venue it is being published on. Similarly, the national best offer price is the lowest price that all sellers are willing to accept for a particular stock.

As bids and offers may differ between trading venues, the NBBO will be used to describe the Best Bid Price and Best Offer Price across all trading venues.

For example, if the Bid/Offer on ASX TradeMatch is $1.00/$1.02 and the Bid/Offer on Chi-X Australia is $0.99/$1.01, the Bid/Offer or NBBO will be

You will see “NXXT” in the course of sales. NXXT is an NBBO Crossing (crossed trade) that has resulted from matching a buyer and a seller of a particular stock, and the buyer and seller are clients of the same broker. Using the ASX or Chi-X trade reporting facilities the broker is able to notify the market that a crossed trade is being executed at the current NBBO price.

This type of trade typically occurs when a broker has managed to automatically match an order with the order of another client of that particular broker through the broker’s internal Crossing System.

As the crossing has been reported at a price "at or within" the current NBBO price, you are not disadvantaged in any way. Your order, in fact may have been executed faster than it would have been if sent to any of the public trading venues, or at a price better than that listed on the public trading venues.

CMA - Cash Management Account

If you wish to Buy shares using our online facility you will need a CMA account with cleared funds available before you can place your Buy order. This will ensure that all settlement obligations can be met on T+2. Upon completion, post the form to amscot Discount Stockbroking.
We have provided you with a Product Disclosure Statement (PDS) for the Macquarie Cash Management Account with an accompanying application form. We have highlighted the mandatory information you will need to complete.
No, the ID that you provide for amscot to open your trading account is sufficient.
You will receive a letter from Macquarie Bank stating your BSB and account details. You will also receive statements on a quarterly basis for your CMA account.
Before you can place a Buy order for shares using our amscotOnline facility, you will be required to have sufficient cleared funds in your CMA account to cover the complete cost of the purchase including brokerage.
When you sell shares via the internet trading account, the proceeds from the sale will be credited directly to your CMA account unless we receive alternative written instructions. Variations to any standing instructions need to be supplied in writing.
Once your CMA account has been established, you will receive details of the account number and also confirmation of deposit methods. These include BPay, Internet banking and deposit through branches.
You may issue instructions for us to transfer funds from your CMA account to a nominated bank account. These instructions will need to be in writing and signed by all designated account authorities, but we will accept facsimile instructions. Please use the form named CMA Withdrawal Form , which can be found on our website.
You will receive monthly statements from your CMA account detailing the movement of funds in and out of your account, and any interest earned and credited to your account. You can also view the details of your CMA account at any time via the internet.
Yes, your account will earn interest at the market rate applicable. Interest is calculated daily on the balance in the account and credited monthly.

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