Can I transfer my share holdings from one platform to another?
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
Share Investing
Standard
Small trade brokerage
Monthly fee
$0.00$0.00CMC Markets Invest makes it easy to trade with a handy web and mobile platform, competitive pricing and thousands of securities. Buy Australian and US shares from $0 brokerage (T&Cs apply - see website for full details).
Share Investing
CMC Markets Invest makes it easy to trade with a handy web and mobile platform, competitive pricing and thousands of securities. Buy Australian and US shares from $0 brokerage (T&Cs apply - see website for full details).
- Monthly fee
- $0.00
- Monthly fee waiver
- -
- Special offers
- -
- Brokerage details
- $0 for trades up to $1,000. Greater of $11 and 0.1% for trades over $1,000.
- Settle from any bank account
- Settlement account offered
- ANZ Cash Account
- CHESS ownership available
- Share pack
- Independent broker reports
- International markets
- Options
- Warrants
- IPOs
- Live data
- Market depth data
- Real time charting
- Other restrictions
- -
Read our Mozo Review to learn more about the Share Investing
Tiger Account
Small trade brokerage
Monthly fee
$5.50$0.00Tiger Brokers is an online broker listed on NASDAQ. It offers access to US, ASX & HK stocks, ETFs and US options trading. Mozo special offer for new users only: Earn 7% p.a. on uninvested cash balance up to AUD 100,000 for the first 150 days, with a value up to AUD 2,877. Plus get US$30 Tesla (TSLA) and US$30 NVIDIA (NVDA) shares with an accumulated deposit greater than AUD 2000. T&Cs apply – for full details, go to the Tiger Brokers website.
Tiger Account
Tiger Brokers is an online broker listed on NASDAQ. It offers access to US, ASX & HK stocks, ETFs and US options trading. Mozo special offer for new users only: Earn 7% p.a. on uninvested cash balance up to AUD 100,000 for the first 150 days, with a value up to AUD 2,877. Plus get US$30 Tesla (TSLA) and US$30 NVIDIA (NVDA) shares with an accumulated deposit greater than AUD 2000. T&Cs apply – for full details, go to the Tiger Brokers website.
- Monthly fee
- $0.00
- Monthly fee waiver
- -
- Special offers
- Mozo special offer for new users only: 7% p.a. on uninvested cash balance for 150 days valued up to AUD2,877. Plus get US$30 TSLA and US$30 NVDA shares with accumulated deposit more than A$2000. T&Cs apply.
- Brokerage details
- 0.055% of trade value, $5.50 minimum brokerage.
- Settle from any bank account
- Settlement account offered
- no
- CHESS ownership available
- Share pack
- Independent broker reports
- International markets
- Options
- Warrants
- IPOs
- Live data
- Market depth data
- Real time charting
- Other restrictions
- -
Read our Mozo Review to learn more about the Tiger Account
Share Trading
Small trade brokerage
Monthly fee
$7.70$0.00Buy 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).
Share Trading
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).
- Monthly fee
- $0.00
- Monthly fee waiver
- -
- Special offers
- -
- Brokerage details
- $7.70 brokerage for trades under $100,000, then 0.05%.
- Settle from any bank account
- Settlement account offered
- Macquarie Cash Management Account
- CHESS ownership available
- Share pack
- Independent broker reports
- International markets
- Options
- Warrants
- IPOs
- Live data
- Market depth data
- Real time charting
- Other restrictions
- -
Read our Mozo Review to learn more about the Share Trading
ASX Shares
Small trade brokerage
Monthly fee
$0.00$0.00Join 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.
ASX Shares
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.
- Monthly fee
- $0.00
- Monthly fee waiver
- n/a
- Special offers
- -
- Brokerage details
- There are no brokerage charges but a 0.50% fee is applied to all funds paid into or taken out of the USD settlement account
- Settle from any bank account
- Settlement account offered
- Customer funds are held in a Trust Account managed by JP Morgan Chase and Co
- CHESS ownership available
- Share pack
- Independent broker reports
- International markets
- Options
- Warrants
- IPOs
- Live data
- Market depth data
- Real time charting
- Other restrictions
- $5 USD withdrawal fee applies and a $10 monthly inactivity fee is charged after 12 months with no login activity.
Read our Mozo Review to learn more about the ASX Shares
Idle Cash
Small trade brokerage
Monthly fee
$5.50$0.00Receive 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.
Idle Cash
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.
- Monthly fee
- $0.00
- Monthly fee waiver
- -
- Special offers
- Mozo special offer for new users only: 7% p.a. on uninvested cash balance for 150 days valued up to AUD2,877. Plus get US$30 TSLA and US$30 NVDA shares with accumulated deposit more than A$2000. T&Cs apply.
- Brokerage details
- 0.055% of trade value, $5.50 minimum brokerage.
- Settle from any bank account
- Settlement account offered
- no
- CHESS ownership available
- Share pack
- Independent broker reports
- International markets
- Options
- Warrants
- IPOs
- Live data
- Market depth data
- Real time charting
- Other restrictions
- -
Read our Mozo Review to learn more about the Idle Cash
Share Trading
Small trade brokerage
Monthly fee
$8.00$0.00Enjoy access to over 13,000 local and international shares and ETFs with $0 Commission on all international shares including US. Trade pre- and post-market with extended hours on over 70 key US shares. Get better rates on domestic shares for active traders - trade Australian shares from $5 commission. (T&Cs apply). Around the clock customer support from real humans (not chat bots). Trade international and Australian shares from the one account with intuitive desktop and mobile app.
Share Trading
Enjoy access to over 13,000 local and international shares and ETFs with $0 Commission on all international shares including US. Trade pre- and post-market with extended hours on over 70 key US shares. Get better rates on domestic shares for active traders - trade Australian shares from $5 commission. (T&Cs apply). Around the clock customer support from real humans (not chat bots). Trade international and Australian shares from the one account with intuitive desktop and mobile app.
- Monthly fee
- $0.00
- Monthly fee waiver
- -
- Special offers
- $0 commission on international shares.
- Brokerage details
- $8 or 0.1% of trade value ($5 or 0.05% with at least 3 trades in the previous month), whichever is greater. Phone rate $50 or 0.1%. 0.7% Foreign exchange margin. Shares held in a consolidated HIN under IGs name, ownership remains with share purchaser.
- Settle from any bank account
- Settlement account offered
- no
- CHESS ownership available
- Share pack
- Independent broker reports
- International markets
- Options
- Warrants
- IPOs
- Live data
- Market depth data
- Real time charting
- Other restrictions
- -
Read our Mozo Review to learn more about the Share Trading
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.