Quicken launches online trading in Oz

A new online investment and trading service has entered the Australian market with the launch of Quicken.com.au in Sydney yesterday.

The name is probably familiar to Australian PC users: it's brought to Australia by the same company -- Intuit Australia -- as Quicken financial software. The service is also running in the US, Germany, Canada and the UK.

More than just an online trader, said Quicken.com.au's managing director Dai-Kyu Kim, "it is designed to be a much richer service". Aside from stocks, users can also buy managed funds, he said, and the service "wraps" all of the user's investments into one simple interface.

A $49 charge for each transaction (up to $250,000) applies, in addition to account keeping fees.

Intuit has plans to tie its Quicken software to the Quicken.com.au service, most likely enabling users to download their investment and transaction information to their PC.

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