I recently opened up a trading account with NAB trading, got my CHESS HIN, however I have never traded in my life. I recently found out about belldirect, and their broker fee is only $15, half that of NAB's fee. So i've decided to open an account with Belldirect, however I don't understand some of the questions belldirect's asking me.
1. do you want this account to be settled via your existing Margin Lending Facility?
2. it's asking me whether I would like Broker Sponsored Securities?
Another question is that since I already make an account with CHESS when I applied with NAB, does it mean that I don't need to make another one when buying through Belldirect?
thanks guys, I have never traded shares before, I just studied "financial institutions, instruments and markets" at uni, and am interested to do some real life trading to enhance my understanding.