Greenline drops rate

GREEN Line Investor Services has taken up the challenge laid down by E*Trade and drop-ped its lead brokerage rate to $28 for online trades up to $10,000.

Deputy managing director Angus Rigby said this created one of the best value propositions offered by a discount brokerage in the market.

“Despite the recent drop by E*Trade of its lead rate from $49.50 to $39.50 per share trade, the rate remains expensive and uncompetitive,” Mr Rigby said.

Green Line has also removed monthly access fees on its standard package.

“Green Line historically has been around 40 per cent below E*Trade and even now the average small investor can still trade with us at a cost that is more than 25 per cent below that of E*Trade,” he said.


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