BrokAIr Reviews

Bell Direct Review

"Bell Direct has recently been accused of unethical practices in the online brokerage industry, leaving many customers feeling betrayed by the company." What happened to the once-trusted Bell Direct?

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Overview of Bell Direct

Bell Direct is an online share trading and brokerage service that operates in Australia. Founded in 2004, the company is a subsidiary of financial services giant Bell Financial Group, which has been in operation since 1996. Bell Direct offers a range of services including stock trading, derivatives trading, commodity trading, options trading and more. With over 10 years of experience in the industry, Bell Direct is one of the most well-known and respected online brokers in Australia.

Pros

Cons

Public Opinion & Newsworthy Events

Canstar's 2018 Online Brokerage Awards (which were based on feedback from over 1,000 Australians who have used an online broker) awarded Bell Direct 5 stars for overall satisfaction, with customers citing its competitive prices and user-friendly platform as positives. On the other hand, some customers have experienced difficulty reaching customer service representatives over the phone or on weekends.

In 2016, Bell Direct was fined $20,000 by the Australian Securities and Investments Commission (ASIC) for failing to meet its obligations to its clients in relation to the issue of margin call notices.

In 2017, Bell Direct launched its mobile app which allows users to trade on the go and access their accounts anywhere. This has been well received by customers.

Overall, Bell Direct has managed to maintain a strong reputation despite some negative press in recent years.

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