Just visited their website, thought to provide a little breakdown for anyone who might be interested:
users can trade US, London exchange stocks as well as ETFs on the platform. they also allow users to trade 'fraction shares' i.e 1% of TLSA, so this tells you their custodian model - no way user can have his own SRN/HIN.
Cost wise, looks like they charge FX commission on anything you trade, even for domestic trading(please correct me if I'm wrong); assume 10 trades a year, 10k per trade, total cost is 225, so $22.5/trade. also based on the AFR article, users need to pay monthly subscription fee if they want access to full range of stocks.
Ann: Trading Update, page-47
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