Just a word of warning here, with regard to Westpac Broking
....Westpac in marketing their product, suggest,even encourage customers that a feature of their platform is too offset trades....or contra trading.
Means payment can be deferred, by trade offset. In fact this process is very familiar to many traders here.
After 10 years with Westpac Broking......I made the mistake of not immediately (by one day)....of not having funds available for purchases some two days previous.
These funds that were represented have since cleared....but Westpac have ceased my ability to trade and have advised me all my positions will be closed out to completely clear my contra debt, in my Westpac account.
Needless to say, once this process is finished I will be closing my Westpac account.
To force sell my positions...when the issue at hand (the debit) has been cleared...and in view of their stated encouragement to OFFSET TRADE.....well I find just disgusting.
WBC Price at posting:
$25.13 Sentiment: None Disclosure: Not Held
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