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Betashares Direct review

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Betashares Direct

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Available markets
Australia
Support
Phone, Email

Our verdict

Betashares Direct lets you invest in any ASX-traded ETF with zero brokerage.

If you're looking for a low-cost way to invest in Australian exchange-traded funds (ETFs), Betashares Direct is definitely worth a look.

With Betashares Direct, you can buy and sell any ETF traded on the Australian Stock Exchange (ASX) with no brokerage fees and no ongoing fees.

Those looking to tailor their ETF investing can also use Betashares' AutoPilot feature, which lets you access professionally-constructed portfolios or build your own.

It's worth noting that AutoPilot portfolios do attract ongoing fees, including flat monthly fees on accounts with less than $10,000 invested.

Depending on your investing strategy, this may mean it's more cost effective to invest using a different platform.

Pros

  • You'll pay no brokerage fees whenever you buy or sell ETF units through Betashares Direct.
  • You can invest in any ASX-traded ETF.
  • There's no ongoing fees on the regular Betashares Direct account.

Cons

  • You can't invest in individual stocks or ETFs listed overseas.
  • The ongoing fees on the AutoPilot feature may be expensive for smaller portfolios.
  • Web app is not yet available.

In this guide

  • Our verdict
  • Details
    • Platform details
  • Your reviews
  • Ask a question

Details

Platform details

Type of broker Online, Mobile
ASX products Exchange traded funds
Available markets Australia
Support Phone, Email

About Betashares Direct

Betashares is one of the leading ETF providers in Australia with over $37 billion in assets under management, and more than 1 million investors.

Betashares Direct is an investing platform designed to make ETF investing more accessible.

How does it work?

With a Betashares Direct account, you can trade any ASX ETFs and pay no brokerage fees.

You can deposit cash to your account using bank transfer and OSKO and then buy and sell ETFs using your cash balance.

There's a $10 minimum investment amount, but you can make fractional investments.

You can manage your account via the Betashares Direct app on iOS and Android, but there's currently no web app.

Betashares will earn interest on the cash balance in your Betashares Direct Cash Wallet, but there's no minimum balance you need to maintain.

What can I trade with Betashares Direct account?

Betashares Direct lets you invest in any ETF that is traded on the ASX, whether it's managed by Betashares or another ETF provider.

You can't trade individual stocks or access more advanced trading options.

What other features do we get with Betashares Direct?

AutoPilot portfolios allow you to automate your ETF investing using professionally-built ETF portfolios or your own custom portfolio.

You can also set up recurring buys using direct debit and access automatic portfolio rebalancing. You will be charged an ongoing fee that varies based on the value of your portfolio, as well as a standard management expense ratio (MER) fee.

Customer reviews of Betashares Direct

Betashares Direct has a good score from iOS users, with a rating of 3.9 out of 5, based on more than 50 reviews.

These ratings were last reviewed on 31 May 2024.

Betashares Direct account fees

You'll pay zero brokerage fees when you buy or sell ETFs through Betashares Direct. There's also no other transaction or account fees.

Betashares AutoPilot account fees

You'll also pay no brokerage if you use Betashares' AutoPilot feature, but you will need to pay an ongoing fee based on the size of your portfolio, and be charged a regular MER fee.

If you have less than $10,000 invested, you'll need to pay a $3 monthly fee on pre-built portfolios or a $4 monthly fee on custom portfolios.

On accounts over $10,000 you'll be charged a 0.20% p.a. fee on pre-built portfolios or 0.25% p.a. on custom portfolios.

How to open an account with Betashares Direct

You'll need to download the Betashares Direct app on either iOS or Android in order to create an account.

You'll then need to provide your email and personal details, and verify your identity using either a current Australian drivers licence or passport. If you don't have either of these documents you may be able to verify your account using other documents.

Is Betashares Direct safe?

Betashares is one of the largest fund managers in Australia and has been in operation for 15 years.

Betashares is regulated by the Australian Securities and Investment Commission (ASIC).

It encrypts all personal data to help protect against data breaches, as well as an Australian-based customer support team.

Of course, like any investment, the value of your Betashares Direct portfolio can go up or down.

This information should not be interpreted as an endorsement of futures, stocks, ETFs, CFDs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading CFDs and forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades. Read the Product Disclosure Statement (PDS) and Target Market Determination (TMD) for the product on the provider's website.

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