I saw this, but I have to print out an application form and find someone to verify I’m real… and then I have to somehow buy and sell, and from what I could see there appeared to be a minimum amount of a lot of money and a very complicated website.
If I could somehow verify myself in the next 8 days, what’s the minimum I’d have to spend to buy and sell and receive my points?
The only other limitation I believe would be that it has to be a marketable parcel, i.e.
"Marketable Parcels
When buying a particular
stock for the first time, the
ASX requires that orders be placed for no less than $500 (excluding brokerage charges), based on the current
market price of the stock."
From this, I'd expect the minimum that you need to be $564 - $64 for the transaction fees and $500 as the minimum buy order. If you only want to do the minimum though, I'd suggest you transfer a little more than that. Depending what share you buy, particularly if the share price >$1, rounding will likely mean that $500 won't buy a full $500 worth of shares and you may not be able to make the transaction then because of that limitation.
The other thing is with the market the way it is, this deal may cost you some dollars more if you're unlucky and the price goes down after you buy, and you want to sell straight away. (On the flip side, it may go up in which case it's cost you less.) BTW, this should also be recorded on your tax return.
If you want to apply for this deal I'd suggest you do so now. Aside from the time to prove/confirm id, it usually takes some time to set up the account, plus they may need to set up a broker account and you have to transfer cleared funds across which takes another day+.
