moin
To buy shares, you need to use an online broker. Most banks have an online broker product. We compare the most used products and list some information about each of them below.
SelfWealth
✅ #2 cheapest fee per trade at $9.50
✅ 1-2 day wait for transfers into and out of SelfWealth
✅ Live chat support
❌ Australian markets only
❌ Limited functionality in mobile app
If you choose SelfWealth as your broker, join using our referral button below and you save $50 by getting 5 trades for free. If you refer friends and family, everyone gets another 5 trades for free.
CommSec
✅ Detailed market data and interviews
✅ Basic research reports
✅ Decent mobile app
❌ Limited global markets
❌ Customer care phone support
ANZ Share Investing / St. George Direct Shares
✅ Same underlying platform and system branded for both banks
✅ Advanced Research and charting tools
✅ Customer care phone support and Live Chat
❌ Additional cost for live price data (Not a problem if you’re happy to hit refresh)
❌ Clunky mobile app
NABTrade
✅ Free live price data
✅ Advanced Research and Charting tools
✅ All international markets
✅ Customer care phone support
❌ Clunky mobile app
IG Trading
❌ #1 cheapest fee per trade at $6 (but be aware)
❌ Minimal deposit required
❌ Technically you don’t own the shares as they are not CHESS sponsored, you are the beneficiaries of the shares.
❌ Because of the above, you can’t take part in dividend reinvestment plans
What do we use?
We use what’s easiest, which for us was the online broker linked to the bank we were already with, with the advantage of instant transfers in and out of the broker account.
Fahd uses NABTrade.
Moin uses SelfWealth and St. George’s DirectShares.
If your bank doesn’t have an online broker platform, you can choose any of the above options. You’ll need to transfer money from your bank account into the your broker account.
5 online brokers compared
