For those that think members of opes where their for a better then market margin loan facility arnt fully aware of the situation.The reason opes was so great was their cheap brokerage rates,and in a competitive market place there is nothing wrong with going with the cheapest participant and not asuming the worst.What I personally didnt know was that I didnt retain full ownership of the shares purchased,weather on margin or not.My understanding of a lending facility was exactly that,no different to other margin loan where you the purchaser retain full ownership rights!!The wording used by opes was misleading as seriously who in their right minds would sign away their whole portfolio to the broker just to obtain a discount rate of brokerage,absolutely no one!!God knows how I wasnt informed in a clear manner about this when I created the account or how the regulatory bodies in Australia would allow such a b.s broker model such as opes.What a joke!!
