I recently asked CommSec why there is a limit of trading some ETF such as ETPMAG Good For Day only and received answers which expose how bad CommSec staff is telling and treating their customers.CommSec told me that it's due to Computeshare which is only a share registry and has nothing to do with buy and sell order. Another excuse is ASX. CommSec claims that the Good For Day limited is due to Computershare and ASX which is totally untrue.1. Computershare is only a share registry.2. ASX doesn't have this limit because other broker (such as Betashares Direct) allows same ETF to trade up to 30 days.I think this is a limit solely placed by CommSec to protect the company but they won't tell their staff or customers.
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It offers a telephone based brokerage service and advisory service, though its Internet trading platform constitutes the vast majority of its business.
