I have been trying to fund both CoinSpot and Independent Reserve from my Macquarie Super CMA but Macquarie refuse to allow either their BSB or their PayID. They say that both exchanges BSB are linked to scams and CMA are not allowed us use PayID. I can transfer cash to my individual account with these exchanges but I want to trade the Share Wealth Crypto system within our Super Fund. Anyone else had this problem and anyone got any suggestions. cheers, Trish
Hi Trish,
I also use Independent Reserve for my SMSF and had the same problem with MBL. When opening my IR account I was automatically allocated a BSB of 802-905 which was rejected by MBL.
My account manager at IR then advised me to use a different BSB of 806-043 which was accepted by MBL. Since then I’ve not had any issues transferring funds to IR.
Hope that helps.
Sean
Coinspot allow PayPal deposits and currently with no fees
Thanks Sean, I will try to get a different BSB from IR. I was given BSB257-163. Funny they have so many BSBs!
Thanks Nicholas. I dont think Macquarie Super Accounts allow PayPal but will check.
Trish
Hi all.
I use SelfWealth for trading ASX and NASDAQ with a $9.50 flat brokerage in respective currencies.
Out of the 10 Crypto ETFs in the current SPA3 Universe I can trade 7 in total as shown below.
Using the available proxy (IBIT for BITQ) and (ETHA for ETHUSD) as covered in Gary’s presentation.
The only concern now is having to get out of bed at “0” dark hundred (Military Time) to place orders near to NYMOC. Any advice to overcome this would be great.
I also use CoinSpor however there very limited with available ETF’s!
Cheers
Mark
Mark,
Self Wealth have limited order types. As you do doubt are aware nearly all US brokers have a Market on Close (MoC) order type.
I doubt that Coinspot would have a MoC order type either.
There is no way to emulate a MoC order. I have suggested it to Self Wealth a few times.
An alternative to NOT have to execute during market hours is a Market on Open order type. Many brokers support this by entering a Market order pre-market open which then fills on the Open.
Self Wealth also do not support this.
The Saxo (which I use) and IB (Interactive Broker) platforms both support MoC order types. As does Schwab, who will open Australian domiciled accounts. I also have an account with Firstrade in the US but am not up to speed with their latest policies on opening Australian domiciled accounts.
Over the long-term it will save hours of your life using a ‘set-and-forget’ order type for each buy & sell transaction.
Any other brokers anybody is using that supports MoC order types for the US market?
I transferred my Saxo account to Gleneagle Securities some time ago to improve support for all things Saxo . Billy Macris and his team can assist with this: 03 9900 7722 or billy.macris@gleneagle.com.au
Cheers Gary.
Looks like IBK-AU accounts may not have permissions to trade Crypto, I have reached out to them to see what’s required my end to fix this issue.
Mark
Not even the Crypto ETFs?
I bought CRYP in September. It has risen from $7.08 to $ 9.53
