Selling shares online is a new topic for some. Others may think they understand how it works, or think they’re making the best moves, but still want a little reassurance. Either way, you’re in the right place. Take the time to read our handy guide on how you can sell shares online with confidence and make the best investing moves.
The most common way that people buy and sell shares online is by using a broker or a brokerage service. When you buy shares, you are essentially a part-owner of a company, allowing you to reap dividends and other benefits. You will also have the choice to own your own shares or pool with others into a managed fund. Fortunately, the Australian Securities Exchange can walk you through share ownership and how to invest.
When it’s time to sell shares, you can choose between a brokering service and a full-service broker. What’s the difference? There are a few, actually. For starters, if you use an online service, you can sign up on your own, add your information, and start making your own decisions about where and how to invest. Thanks to intuitive platforms, some people prefer this to the high fees of a traditional broker or financial advisor. In many cases, you’ll be able to find fees as low as $20 when you buy and sell your own shares.
If you do sell shares online with a full-service broker, they will be able to take care of everything for you. They’ll advise you on what to buy and sell, when to make moves, and how best to handle your investments. Brokers do charge fees, though, and the larger the transaction is, the more you will pay. There may also be minimum fees involved, which typically decrease as the amount of the trade increases. Thus, a 2.5% fee may be imposed on someone selling $4,000 in shares, while someone making a substantially larger trade may be able to get fees as low as 0.1%.
Ultimately, the choice is yours. However, if you want to keep as much of your profit as possible, selling shares online by yourself is a good way to go. Technology has created a lot of great new solutions and resources to make the process easy, and all you really have to do is sign up, find your shares, and choose what you want to sell.
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