Originally started in New Zealand, Sharesies is one of the newest online share trading platforms to hit Australian shores. Sharesies focus is on providing budding or smaller investors access to Australian and international (NZ and US) shares and ETFs at a more affordable entry point, with no minimum investment amount and the ability for users to buy fractional shares.
With the Sharesies online share trading platform investors will be able to trade shares and exchange traded funds (ETFs) via Australian, New Zealand and US stock exchanges.
In terms of costs, there’s also no monthly fee with the account and though bank transfers to the Sharesies Wallet are free, there is a fee for transfers made via a debit or credit card. There is also a 0.6% currency conversion fee, that is important to keep in mind.
Brokerage rates are also capped at different amounts, depending on your order amount and the currency of your order.
Transaction fees for US shares are capped at $5 USD per order for amounts invested or received above $264 USD.
Transaction fees for Australian shares are capped at $6 AUD per order for amounts invested or received above $316 AUD.
Transaction fees for NZ shares are capped at $25 NZD per order for amounts invested or received above $1,316 NZD.
However, before you hit these capped limits, there is 1.9% transaction fee that applies. For example, here is a breakdown of transaction fees for Australian shares that demonstrates how the fee cap kicks in:
$5 trades: $0.10 brokerage
$50 trades: $0.95 brokerage
$100 trades: $1.90 brokerage
$200 trades: $3.80 brokerage
$500 trades: $6 brokerage
$1,000 trades: $6 brokerage
$10,000 trades: $6 brokerage
$25,000 trades: $6 brokerage
Unlike most platforms there’s no minimum investment amount with Sharesies, and users can buy ‘fractionalised’ shares of companies or ETFs. That does mean that share ownership is a little bit different though, because investors won’t have an individual HIN or CHESS account. Instead, shares are held in trust by Sharsies, though investors will be entitled to dividends.
Just bear in mind that there’s no live price data, nor are there features such as news feeds and brokerage reports that you might find with other platforms.
Sharesies could be an appealing option for Australians just starting out on their investment journey who want to trade Australian and international shares without the need to invest thousands and thousands of dollars. However, given it doesn’t have many of the more advanced tools attached to some other platforms, it may not be the right platform for advanced or frequent traders.
Just remember that the share ownership model offered by Sharesies is a little different to some Australian online share trading platforms, so you may wish to do more research on the ins and outs of 'custodian ownership' models.
There is also a currency exchange fee of 0.6%.
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$6.00 |
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1.90% transaction fee on orders under $316, capped at $6 for ASX trades. |
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1.9% |
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1.90% transaction fee on orders under $316, capped at $6 for ASX trades. |
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1.90% transaction fee on orders under $316, capped at $6 for ASX trades. |
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no |
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$0.00 |
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n/a |
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New Zealand Stock Exchange (NZX), New York Stock Exchange (NYSE), Nasdaq, and Chicago Board Options Exchange (CBOE). |
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Sharesies Wallet, 2.65% + $0.18 fee applies if deposit via credit/debit card, no fee on direct bank transfer. |
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Brokerage fee is calculated based on the amount traded (1.90% up to $316) capped at $6 for ASX trades. |
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none |
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