Hey M. Just on that skimming bit. Let me say I'm not impressed....

Hey M.
Just on that skimming bit. Let me say I'm not impressed. It's not legal as far as I can fathom as it's touted as a service fee and there's no service. Meaning it's a no service fee and something that's been exposed and reviewed by the Royal Commission. I initially queried it with CMC and they confirmed that they weren't charging a service fee. After checking my bank statement found out they were right...it's the friggin' Bank!

Furthermore Bankwest is the only account that CMC will allow you to link to for your trades...so if you want to trade with them you have no choice but go with Bankwest...which I consider a monopolistic price gouging policy as well...

Been meaning to email Bankwest and let them know that I want all "no service fees" refunded as I keep a fair bit of powder in reserve there as it's supposed to be a high bearing interest account (they should call it a high skim no service account instead) and use it for my STT trades...but for the life of me I can't work out how to get anything in writing to them!

Happy to hear any suggestions. And it's not the money...it's the damn principle...