If you’re reluctant to pay the high fees often associated with full-service brokerages, then we have another option for you.
For many share types, all you need is an online broking service which makes things a whole lot easier. So, let’s dive in and answer the question: how do I sell my shares without a broker?
You need to know a few crucial details before you dive into the process of selling your shares without a broker.
Firstly, understand that not all shares can be sold without a broker, especially those such as issuer-sponsored shares listed on exchanges like the Australian Securities Exchange (ASX). You’ll need an online broker to sell issuer-sponsored shares.
This doesn’t mean that you need to open a trading account with a full-service stockbroking firm. Instead, you can use our online service to facilitate the sale on your behalf.
We act as the share registry holder and manage the transaction for you. Our company meets all the legal obligations required to sell shares in Australia but comes without the extra expense associated with a full-service brokerage firm.
There’s a simple few-step process that we use to help you sell your shares.
Once this is done we can execute the sale and transfer ownership within two business days. The funds earned from your share sale will typically be in your nominated bank account a day later.
It’s simple, quick and hassle-free.
Often, you’ll find yourself needing to understand the intricate relationship between shares and brokers when navigating the stock market.
Shares represent ownership in a company and brokers act as intermediaries in the buying and selling process. They’re typically linked to a platform that allows you to trade shares.
However, you can sell shares without a broker. Online brokerage services, such as ours, facilitate this, acting as the share registry holder and managing the transaction.
This approach depends on the type of shares you own and how you acquired them. The sale is executed within two business days, transferring ownership. This method is secure and confidential, offering a viable alternative to traditional broking.
Although selling your shares online is convenient and efficient, it’s essential to take certain safety measures to protect your investment and personal information.
Being a regulated entity, we offer a more secure platform for share transactions. We have established systems in place to verify the identities of buyers and sellers, ensure the value and legitimacy of shares being traded and provide secure payment gateways. Adhering to strict regulatory standards set by financial authorities, our platform enhances the safety of transactions
Be wary of unsolicited offers to buy your shares. Scammers often pose as legitimate buyers to steal your information. Similarly, avoid sharing personal details over the phone or email. Only provide information on secure websites or in person.
The tax implications don’t change whether you’re selling shares with a broker or not. You’re still required to report capital gains or losses on your tax return. Consult a tax advisor for specific circumstances.
Yes, there are regulations governing selling shares without a broker. You must comply with securities laws and ensure transactions are properly reported. You must understand these laws to avoid legal complications.
To ensure you’re getting a fair price for your shares when selling without a broker, research the current market price. Monitor trends and compare with similar stocks. Consider independent advice for unbiased valuation. Be informed, be patient.
Yes, you can sell shares without a broker, even if you’re living outside of Australia. You can use our online platform, providing your shares’ details and proof of identity. The process is straightforward and secure.
You’re exposed to potential risks when selling shares without a broker. You may miss out on professional advice, face difficulty in finding buyers, and struggle with understanding market trends, which could lead to financial loss.