How To Buy Shares Online In Australia

How To Buy Shares Online In Australia – Welcome to our new series of reviews and discussions of all trading platforms and share trading apps in Australia. It is important to understand exactly what each platform or app does so that you can choose the best investment strategy for you.

EToro is an Israeli-founded online trading platform available in many countries around the world, including Australia. You can buy and sell stocks like many other stock trading apps, but the platform has some distinctive features.

How To Buy Shares Online In Australia

The standout features of eToro are the multiple assets you can trade (stocks, foreign currencies, cryptocurrencies, and commodities like gold and oil), and its CopyTrader and CopyPortfolio features. The ‘copy’ functions allow users of the platform to imitate the strategies of more experienced investors.

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‘Copied’ investors can participate in eToro’s Popular Investor program, which rewards investors for allowing their portfolio and trades to be copied.

EToro also has a news feed, similar to feeds on other social networks such as Facebook or Twitter. The eToro news feed allows anyone on the platform to post opinions, updates and suggestions so users can learn from each other.

EToro offers CFD trading. CFDs, or contracts for difference, are complex financial instruments and come with a high risk of losing money quickly through leverage. According to the eToro website, 71% of retail investors lose money when trading CFDs with eToro.

The Australian regulator, ASIC will also enforce lower leverage and stricter regulations on CFD providers from March 29, 2021.

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Opening an account on eToro is initially free, although you must have a minimum opening balance of USD$200, and the minimum trade size of USD$50 for stock trading.

EToro is regulated by the Australia Securities and Investment Commission (ASIC) and has an Australian Financial Services License (AFSL).

This means that the platform is regulated, but the asset classes on eToro can be risky in the hands of an inexperienced investor. Investors can buy and sell cryptocurrencies, forex and CFDs (contracts for difference), all of which are high-risk investments.

The eToro trading platform is not an exchange or a market. This means that you can only buy and sell shares within the eToro trading platform. It is not possible to move open positions from your eToro account to another broker or to another person.

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When buying a stock or an ETF on eToro, you gain ownership, and the underlying asset is held in your name.

However, eToro does not have CHESS sponsorship (being CHESS sponsored means the ASX keeps a list of who owns which shares). This means that if eToro were ever to collapse, your assets held would not be legally and beneficially held in your name.

In addition, when you buy a CFD, you do not have the same rights as owning assets such as shares directly on a HIN at the exchange.

For an Australian customer to open an active trading account with eToro, you will be asked to make a minimum initial deposit of USD$50 (at the time of writing).

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You need to fill out a profile that will be public unless you mark it as ‘private’ and once you have deposited funds you can start trading, either by choosing stocks or other assets yourself, or by copying the portfolio from a more experienced investor.

If you are interested in stock trading, you can currently buy (and hold) stocks in the United States through eToro. These shares are traded on the NASDAQ and NYSE markets. However, you cannot buy individual Australian shares on the ASX through eToro.

You can also buy fractional shares on eToro. This means you can buy as little as 0.1% of a share of high-priced companies, such as Amazon or Facebook.

Your first withdrawal from eToro will require you to have a verified account (which means you’ll need government-issued ID as well as proof of your address). Once you have a verified account, you can withdraw your money at any time, but the processing time may take a few business days.

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EToro has positioned itself as a social platform, and as such those who like to trade regularly can learn from other investors. The platform offers various trading tools and courses, and every trader who signs up to eToro is given the opportunity to practice their strategies with a dummy account including $100,000 of virtual money.

The platform charges inactivity fees, so by conclusion it does not encourage passive investment. Since active investing requires a lot of research and attention to market movements, it may not be the easiest way to invest for a beginner.

In addition, while you can buy shares, the other assets available on the platform are the domain of more experienced investors (CFDs, forex, and cryptocurrencies).

Robinhood offers free trading in the US, but makes most of its money from selling order flow and receiving compensation for directing orders to various parties for executing a trade.

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Robinhood also earns money from margin lending, which means an investor can borrow money from Robinhood to buy stocks. Robinhood is not currently available in Australia.

EToro and Stake both offer no commission brokerage for Australians. This means you can invest in US stocks like Apple, Tesla and Amazon.

On Stake you can buy a fractional share with as little as $10, while eToro charges a minimum trade of $50. Stake also does not charge brokerage fees, but earns 0.70% every time you move your money from Australian dollars to US dollars to invest. Stake operates through its US market clearinghouse partner, DriveWealth.

EToro allows buying and selling of shares, but not Australian shares. You can trade in foreign currencies, cryptocurrencies, and commodities like <gold and oil. While there is no brokerage for buying stocks, there are currency conversion fees and fees for buying assets other than stocks.

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SelfWealth offers trading of Australian shares with brokerage starting at $9.50. SelfWealth also recently introduced US stock trading at $9.50. Your investments are held directly in your name on your own individual HIN.

The main difference between Stockspot and eToro is that Stockspot provides investment advice and an ongoing service. On eToro, advice is given by other investors who may or may not be experienced, but when you join Stockspot, your personal situation is reviewed, and then you receive a recommendation for the most suitable investment strategy based on your goals and investment time horizon.

With Stockspot, once you settle on your investment strategy, you get a well-diversified portfolio (including Australian shares, global shares, emerging markets, bonds and gold). Stockspot reviews the investment on an ongoing basis and will rebalance your portfolio if necessary.

When you​​​​invest with eToro, you only get stocks and there will be no defensive assets in your portfolio unless you buy them separately. Having a good diversification across different platforms can be difficult and expensive.

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With eToro, you have to choose all the investments yourself and monitor them yourself. If you​​​​​​want to invest in Australian shares, you will have to use a different platform, which can become difficult to manage in the long run.

If your​​​​ goal is to regularly buy and sell investments to try to make short-term profits, this may be your preferred strategy. But, if you are a long-term investor, your portfolio should be regularly reviewed and rebalanced in line with market movements.

For some people, managing their own investments can be a rewarding hobby. But studies have shown that the right investment selection, the right portfolio allocation and automatic rebalancing can add about 2% p.a. in pre-tax performance each year. Stockspot manages all this for you so you can benefit from expertise and automation and you don’t have to worry about anything.

Before you make your decision on how to invest, see how Stockspot portfolios have performed over the years.

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How Stockspot outperformed Vanguard and robo-advisors Three strategies that helped Stockspot portfolios outperform Vanguard and others as Australia’s best performing robo-advisor over the last 5 years. $0 brokerage fee when you join Join today and get $0 brokerage on your first 10 trades. Limited time offer, T&Cs apply. Start today >

Share Trading Account A Share Trading Account gives you a fast, simple and affordable way to buy and sell Australian shares. You can place orders without deposit1, so you can take advantage of investment opportunities when they arise. And you can place them the way that suits you best – online, on the go through our app or over the phone. To settle your trades, you can choose an existing cash account, or access our lowest brokerage rates with a Commonwealth Direct Investment Account2, 3. With our seamless cash integration, you can make real-time cash transfers, logging in just once through NetBank or to your cash – and manage trading accounts. Convenience, flexibility and great value are not all a Share Trading Account offers. On the website you will find everything you need to invest with confidence, whatever your level of experience – free real-time quotes, market depth, live announcements and live charting, no strings attached. Apply now and you can start trading today.

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