Moomoo Trading #
Trustees are free to use any bank or broker of their choice when opening bank and share trading accounts. Always remember to have the account name in the name of the SMSF.
We have a business relationship with Moomoo Trading, they offer both Australian & International Share Trading, the cost for Australian investments is $3 per trade while for international investments it is $1. More information on Moomoo and how to setup their account can be found here:
Moomoo Australia | Share Trading Platform | Stocks, ETFs, Options
As part of our relationship with Moomoo, for all Funds who only hold a Moomoo and Macquarie bank account, we charge a lower annual fee of $82.50 per month or $990 per year. When submitting an application for a new SMSF through our website, please list in the notes of the application that this is your intention.
#We have asked other brokers to be added to the $82.50 annual fee if applicable.
Why does the Moomoo option have lower fees compared to the Advanced option?
Lower fees are offered for the MooMoo option as this allows for the electronic uploading of files which makes the accounting process more efficient.
Is it possible to add other brokers to the Moomoo option?
If the files uploaded from other brokers are in a format compatible with our cloud accounting software, BGL360, we can include them in the Moomoo option. We’ve reached out to other brokers for file formats to expand this feature and will add more as additional service providers join.
Does Superannuation Warehouse require an AFSL to offer this accounting option, and is this considered Dealing by Arrangement?
The service we offer is focused on accounting and tax work. Trustees are responsible for selecting the service providers and brokers they wish to use. When we can streamline our accounting processes, such as reducing time through electronic file uploads, we pass those cost savings on to the Trustees, which is why the Moomoo option has a lower fee.