Hello,
I need to sell some common shares from my Computershare holdings: Telstra, Wesfarmers and something else I can’t recall.
Got them ages ago and I need the money to help fund separation legal costs :/
Only $11K worth in total.
Can anyone recommend a place to sell the shares without costs or needing to deposit thousands of dollars into a trading account to get the free trades?
Many thanks
Something like stake will be what, $3 a trade?
So 3 different stocks would cost you $9 as 3 sell orders
Or likely somewhere like CommSec will have first 10 trades free for first time sign ups
Damn. Already have Commsec
Having been through this recently with a family member here are some tips. We moved 1 from link market and 1 from Computershare to stake.
I need to sell some common shares from my Computershare holdings: Telstra, Wesfarmers and something else I can’t recall.
How did you buy/get them? Can I assume via a trading platform?
Can anyone recommend a place to sell the shares without costs
Only $11K worth in total.
If you have a trading account with a platform that has your shares in already, just pay the fees to sell them, it'll be under $100 to sell them all even for the most costly places. For example NAB Trade fees per transaction are
Trade size Brokerage (inc. GST)
Up to $1,000 $9.95
$1,000.01 - $5,000 $14.95
$5,000.01 - $20,000.00 $19.95
Lets say you have 3 shares sales in the $1-$5k range, you'll be paying ~$45. LOL Not worth the hassle of trying to move them around to save $45.
But if you must have a fee free sale, look at moving the shares in superhero and then doing a sale that way.
Stake — $3 per trade up to $30k, or 0.01% for over $30k trades.
SelfWealth — $9.50 per trade regardless of the trade value, so it would be cheaper than Stake when you are buying or selling more than $95k at once. Use the referral links also get 5 free trades to be used within a month.
Both are CHESS sponsored.
selling more than $95k at once
LOL OP has $11k in shares….. I don't see this being a problem.
These are better than my first suggestion!
I need the money to help fund separation legal costs :/
That sucks, sorry to hear that.
Definitely go with SelfWealth via referral for the free trades as mentioned by Scotty.
Computershare definitely has a fee to sell, and it is pretty high.
https://www.computershare.com/au/individuals/i-am-a-sharehol…
Also you can only sell issuer sponsored holding through Computershare, not CHESS-sponsored.
In addition to the Superhero, Stake, SelfWealth offer, there is also this Webull offer https://www.ozbargain.com.au/node/805519. It also offers 30days free commision trading.
The free US shares may even cover your legal cost in the long run.
Also Pearler is another low fee broker: flat $6.50 fee per trade.
Respectfully is this thread a joke?
OP has $11k in shares. Stake you can set an account up online in minutes - transfer your holdings to them online too. Price your time at minimum wage and you're already ahead with how good the process is compared to others (I've used most of them).
And instead you want to jump through hoops to get 'free trades' (you are aware trading costs are deductable against the likely CGT you will be paying?) and save the $3 per holding you would pay via Stake?
You can sell up to $30,000 of a holding at Stake before you pay more than $3 per equity. So you're looking at a tax deductable bill of what $15 or so.
But if you want to get a referral and whatever else to save that, by all means. :-)
I would also like to know which Broker will happily let me sell number of holdings for free at short notice.
I think Pearler referral benefits are good but unfortunately don’t meet OP’s short notice requirements. Not to mention the wait time to transfer OP’s share from the current broker which can’t be recalled.
https://www.ozbargain.com.au/deals/pearler.com