So a race to the bottom?Though there are variations in the...

So a race to the bottom?

Though there are variations in the service that can be offered, and it's the most price conscious (small portfolio) demographic that prioritises price above all.

eg. SMSF
Crypto
Auto-invest
Social Following

So we're in the flat-fee category, which would satisfy the moderately price conscious demographic, who will then select based on feature preferences.


By the way, an email to one of my secondary accounts -


Makes sense to me - trying to encourage activity in the dormant account segment. I see the promotion being rorted to an extent, so maybe it'll be 2 dormant US Trading sign-ups per 1 active sign-up, meaning $150 cost per conversion per US trading sign-up. Still better than $2000 marketing cost per active sign-up lately (though it's not quite an equivalent comparison - new users vs dormant users beginning a US trading account).