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Bell Direct's Terms and Conditions

Discussion in 'Shares' started by JudgeDreadz, 2nd Jul, 2009.

  1. JudgeDreadz

    JudgeDreadz Well-Known Member

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    Is anyone here signed up with Bell Direct? I am particularly attracted by their low brokerage. However, did anyone find their terms and conditions to be a little...well, inadequate?

    They basically stated they cant be held responsible if you put in an order, there is no guarantee that they will process that order. I can include specific snippets from the terms if anyone is interested.

    That said, these are the first terms and conditions for a brokerage I have read so I am not sure if they are all like that.
     
  2. JudgeDreadz

    JudgeDreadz Well-Known Member

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    was it something I said (or something I didn't)? maybe my question is too vague. i will put up some extracts tomorrow.
     
  3. davo6253

    davo6253 Well-Known Member

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    I'd like to see the extracts but i'm sure its somewhat standard to basically cover themselves should there server crash and you miss out on a big profit or similar.
     
  4. JudgeDreadz

    JudgeDreadz Well-Known Member

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    Terms and conditions

    2.8 We may close your Trading Account at any time, for any reason and without prior to notice, subject to all outstanding obligations being fully discharged. We may refuse your instructions to purchase or sell purchase or sell financial products (and/or instructions relating to settlement) or cancel any order or generally prohibit or restrict your ability to trade Finanacial Products in or from your Trading Account without providing any reason for so doing.

    3.12 You agree that we may, from time to time, require you to open a new linked cash account either with the same provider but on different terms or with a new provider. You irrevocably authorise us to do everything necessary on your behalf to arrange and affect the trandfer to any new Linked Cash Account. You agree that upon request by us you will do everything necessary to effect such transfer. You also agree that the conditions will apply to any new Linked Cash Account

    There are more but my hands are tired. Any thoughts on these two? Reasonable demands?
     
  5. Tropo

    Tropo Well-Known Member

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    "Any thoughts on these two? Reasonable demands?"

    With these conditions you are not in control of your own money. :mad:
    I would run!!!! :cool:
     
  6. davo6253

    davo6253 Well-Known Member

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    I can imagine most other providers have similar clauses.

    I am no lawyer, but I can imagine there is laws against any unfair dealings when it comes to peoples money, obviously if the company goes insolvent different matter but if you're operating legitimately I don't think theres alot to be concerned with.

    Cheers,
    David
     
  7. JudgeDreadz

    JudgeDreadz Well-Known Member

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    tropo - so why is bell direct so popular? do people not read these terms?
     
  8. Tropo

    Tropo Well-Known Member

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    What makes you think that bell group is so popular? :eek:
    Do you think that popularity guarantee a good service?
    People may read these terms, but good understanding is another story.
     
  9. JudgeDreadz

    JudgeDreadz Well-Known Member

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    I heard a few people on the boards referring to them. THough I guess referring and actually using and then actually using and being satisfied with the service are different stories eh tropo?
     
  10. Tropo

    Tropo Well-Known Member

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    You hit the nail on the head.:p