Can I transfer my share holdings from one platform to another?

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If you're looking to change share trading platforms, then you'll likely need to transfer your shares across to your new account. 

There are plenty of reasons to switch platforms, like the offer of lower brokerage fees, or access to features like live data and robo-advice. 

So, if you’re looking to swap out your current share trading platform and find a new home for your investments, we’ve got the process covered.

Read on to find out how you can transfer your shares from one platform to another.

How to transfer your shares to a different trading platform

When transferring shares to another account, you’ll be performing an off-market transfer, meaning that you won’t be buying or selling these shares on a market like the ASX. 

The process works a little differently, depending on who your share holdings are currently with, and whether they are CHESS sponsored (Clearing House Electronic Subregister System) or Issuer sponsored.

Are my shares Issuer sponsored or CHESS sponsored?

If you own shares through a share trading platform already (for example, CommSec or nabtrade), there's a good chance they will be CHESS-sponsored.

CHESS sponsored shares are held under your Holder Identification Number (HIN). Your HIN is usually a ten digit number, starting with an ‘X’.

If you have issuer sponsored shares, then they won’t be in a stockbroking account. Instead, they’ll be registered by the company you have shares in and held under a Security Reference Number (SRN).

SRNs are often a nine or ten digit number, which starts with an ‘I’ or a ‘C’.

How to transfer CHESS sponsored shares 

To transfer CHESS sponsored shares you will have to:

1. Find your HIN (Holder Identification Number)
2.
Open a new share trading account with your new broker (if you have not already) and log in
3.
Locate your new platform’s broker to broker transfer request form (these will often be found under ‘Forms’ or ‘Start new form’) 
4.
Fill out the form, nominating the shares you would like to transfer from your old platform 
5.
Send off the completed form to your new share trading platform (either electronically, or by mail).

How to transfer issuer sponsored shares 

To transfer issuer sponsored shares, you will need to:

1. Find the SRN (Security Reference Number) for your shares
2. Open a new share trading account with your new broker (if you haven’t already) and log in
3. Find the page in your new platform’s account that gives you the option to request a transfer from your share issuer (in some cases, you will find a form that you need to fill out)
4. Fill out the required information and send it back to your share trading platform
5. Sit back and relax as your new trading platform takes care of the request.

How to find the best share trading platforms in Australia

If you're looking to switch your share trading platform over to a new one, but you're not sure where to start looking, check out the best share trading platforms in 2023. 

There you'll find Mozo Experts Choice Award winners and share accounts which the Mozo editorial team believe are worth highlighting. 

Also, you can get started by comparing share trading accounts below.

Share account comparisons on Mozo - rates updated daily

Search promoted share trading below. Advertiser disclosure.
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    Share Trading Account

    Small trade brokerage
    Monthly fee
    $5.00
    $0.00

    $0 brokerage when you purchase ETFs ($5 to sell Aussie ETFs), plus investors can get started with a minimum investment of just $100. For new customers, get US$10 of Tesla when you sign up, use the exclusive referral code from Mozo (mozo24), and fund A$100 within 30 days (T&Cs apply).

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    Share Trading

    Small trade brokerage
    Monthly fee
    $3.00
    $0.00

    Invest in AU stocks, US stocks, HK stocks and ETFs on moomoo trading platform. US trades from $0.99 USD, other fees apply. Backed by a Nasdaq-listed fintech. (T&Cs apply).

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    Mozo Experts Choice 2023
    Tiger Account

    Small trade brokerage
    Monthly fee
    $5.50
    $0.00

    Tiger Brokers is an online broker listed on NASDAQ. It offers access to US, ASX & HK stocks, ETFs and US options trading. Enjoy one brokerage-free trade per month on US and ASX stocks* with account opening. Mozo special offer for new users only: Get USD $25 in Tesla fractional shares plus USD $50 in fractional shares for new accounts with an accumulative net deposit of AUD 500*. T&Cs apply.

    Details
  • placeholder
    Share Trading

    Small trade brokerage
    Monthly fee
    $7.70
    $0.00

    Buy and sell with a low $7.70 flat fee per trade and access to all ASX Shares and ETFs to invest in with GO Markets. Enjoy dedicated local customer support, a regulated Australian company for trading ASX Shares and ETFs. Plus, enjoy $0 Brokerage on your next 15 trades! (T&Cs apply).

    Details
  • placeholder
    Idle Cash

    Small trade brokerage
    Monthly fee
    $5.50
    $0.00

    Receive interest on your uninvested cash. Deposit over USD/AUD 5,000 to start receiving 1.5% return; 2.25% return on over AUD 50,000; Up to 3.25% return on over USD 50,000. Mozo special offer for new users only: Get USD 50 fractional shares plus USD 25 Tesla shares with a cumulative net deposit of min. AUD 500 within 7 days of the first account opening. T&Cs apply.

    Details
  • placeholder
    ASX Shares

    Small trade brokerage
    Monthly fee
    $0.00
    $0.00

    Join the world’s leading social trading platform, trusted by 30 million users worldwide. Invest in stocks, crypto, ETFs and more - all in one place. Hone your financial skills with a $100K virtual demo account.

    Details

Can you convert issuer sponsored shares to CHESS sponsored shares?

You can transfer the register where your shares are held – either from issuer to CHESS, or CHESS to issuer sponsored.

To convert your shares from one register to another, you may have to fill out a form, or begin the process through your share trading account online. 

For more information, contact your shareholder or broker, as the process can differ depending on who you’re investing through.

Does it cost money to transfer shares to another platform?

It may cost you money to transfer your shares from one trading platform to another. Some platforms will let you transfer shares held in your name to another platform’s account in your name for free, but always be sure to check. 

Some share trading platforms will also charge you for the conversion of broker/CHESS sponsored shares into issuer sponsored shares.

But when it comes to converting issuer sponsored shares into CHESS sponsored, the issuer is often responsible for the cost, so it may be free.

What's the difference between issuer sponsored and broker sponsored shares?

Issuer sponsored shares aren’t connected to any stockbroker or trading platform, rather they are registered by the issuer (like a company). These are usually held on a register by a third party, selected by the issuer, and come with a unique Security Reference Number (SRN).

Broker sponsored shares (also known as CHESS sponsored shares) are held on the Clearing House Electronic Subregister System (connected to the ASX). These shares are typically held in a broker account, under your Holder Identification Number (HIN).

What is a ‘custodial model’ broker?

Some share trading platforms won’t CHESS-sponsor your shares, but hold them on your behalf under an “omnibus” HIN. This means you won’t be issued a HIN of your own. 

The idea is that custodial models will reduce trading costs and give you access to more products and asset classes. This is said to be because your assets will be pooled with other investors (in a similar vein to ETFs). 

Generally speaking, it is thought that brokers that use a custodial model have lower fees, hence increasing your potential profitability. 

Examples of custodial model brokers include Superhero and IG.