One off trades (also known as one off share sales) allow you to sell your Issuer Sponsored shares quickly and easily on the Australian Securities Exchange (ASX) without the hassle of opening an active trading account with a stockbroker. Selling shares one off in this way is convenient for people who may have obtained shares through:
- Initial Public Offerings (IPOs) like Telstra (TLS) or Medibank Private (MPL);
- Demutualisations like Insurance Australia Group (IAG – previously NRMA) or AMP Limited (AMP);
- Employee Share Schemes (ESS); or
- Inheritance from a deceased estate
Our one off share sale service is ideal for those who want to urgently sell a parcel of shares, or simply want to cash in their shares with minimal fuss and move on.
Why are One Off Trades Convenient?
The traditional method of selling shares involves completing a bunch of paperwork and opening a trading account with a stockbroker. This alone can take weeks as you wait for your documents to arrive by post. You are then encouraged to buy and sell shares on an ongoing basis, paying brokerage fees as you go along. Obviously this approach isn’t practical if you just want to complete your one off share sale, take the money and run!
With our one off trade service, you can jump the queue and have your shares sold today! Instead of waiting 2 weeks, we can have your share sale processed in 15 minutes, and since we specialise in one off trades, we don’t mind if you only use us once! Selling shares online with us means there are no strings attached – that means no account fees, no ongoing costs, no passwords to remember and no annoying sales calls.
The One Off Trades Process
Completing one off trades is easy, even for beginners who have no experience with the stock market at all!
To complete a one off share sale, simply follow the steps below:
- Complete the online one off share sale form
- Open the email we send you and complete the online ID check inside
That’s all there is to it! The whole process from start to finish takes people an average of 15 minutes. Once you’ve completed the above 2 steps, we take care of the rest, and all that’s left to do is wait until we transfer the funds into your bank account 3 business days after your shares are sold.
The One Off Trades Form
The online one off share sale form is where you enter your SRN, shareholder information and your bank details so we know where to transfer your share sale funds. This form is very clear and easy to follow, it even tailors to special one off share sale situations such as joint shareholdings, company holdings, trusts and deceased estate share sales.
The Online ID Check
Our state of the art online ID check allows you to securely verify your identity online without scanning or uploading any documents. All you will need to do is:
- Leave a quick voice message to verify your ID
- Enter your drivers licence or passport number online through GreenID – a third-party ID verification service we pay for to save you hassle of sending us certified copies of ID.
What You Will Need Before You Begin
- Your Shareholder Reference Number (SRN)
- Your drivers licence or passport (to verify your ID online)
Your SRN is usually found at the top of your shareholding statement or dividend statement and begins with the letter “I”, followed by 8-12 digits eg. i00012345678. The “I” stands for Issuer Sponsored which means the shares are issued directly from the company and maintained by a share registry – more information.
If you don’t know your SRN, you can use our Online SRN Search.
What Fees are Involved with One Off Trades?
When you sell shares in Australia, brokerage is charged as a percentage of the transaction value with a minimum amount. The brokerage fee is taken out of the share sale proceeds before they are transferred to your bank account, so there are no up-front costs.
Our rates and service levels for one off trades are as follows:
Value One Off Trade Service (Most Popular):
If your shares are worth less than $10,000, then the brokerage fee will be $110 + GST per share parcel (company).
If your shares are worth more than $10,000, then the brokerage fee will just be 1% of the total value of the shares + GST.
Our Value one off share sale service ensures that your shares will be sold within 1-2 days of you completing the share sale process.
Express One Off Trade Service (Fastest):
If your shares are worth less than $10,000, then the brokerage fee will be $150 + GST per share parcel (company).
If your shares are worth more than $10,000, then the brokerage fee will just be 1.5% of the total value of the shares + GST.
Our Express one off share sale service ensures that your shares will be sold on the same day if you complete the share sale process before 3pm AEST Monday to Friday.
Are you ready to complete your one off trades? Simply click here!