Security Alert: Scam Text Messages
We’re aware that some nabtrade clients have received text messages claiming to be from [nabtrade securities], asking them to click a link to remove restrictions on their nabtrade account. Please be aware this is likely a scam. Do not click on any links in these messages. nabtrade will never ask you to click on a link via a text message to verify or unlock your account.
You won’t be able to buy mFunds on nabtrade
From 4 August 2021 mFunds Buy orders on nabtrade will not be processed.
You’ll receive a warning message when you try to place mFunds Buy orders on the nabtrade order pad.
We will continue to support your existing mFund holdings
We will continue to allow you to hold any existing mFund investment on nabtrade, including the facilitation of mFund sell orders.
We will notify you if this changes.
Frequently asked questions
The Government has introduced new Design and Distribution Obligations (DDO) from 5 October 2021 which require (amongst other things):
- product issuers to make, publish and review a target market determination for financial products i.e. determining who the product is appropriate for; and
- product distributors (like nabtrade) to take reasonable steps to distribute the financial products within that target audience.
As a product distributor, nabtrade is unable to provide target determinations for all ASX mFunds available on the platform or limit distribution to only clients within that target audience. As a result nabtrade will no longer be able to accept mFund Buy orders.
You don’t need to do anything. From 4 August 2021 you simply won’t be able to submit any mFund buy orders on nabtrade.
No, you don’t have to sell or transfer existing mFunds holdings. We will continue to allow you to hold any existing mFunds investments acquired prior to 4 August 2021 on nabtrade, and the sell functionality will still be available.