OneTrade FAQ's
If you have a question that we haven’t covered in the FAQ’s below, please contact us.
Q: How do we sell shares?
A: Shareholders can sell shares through the OneTrade Sell Order Form by clicking any 'Place Sell Order' link throughout the OneTrade website. Shareholders can also call our office on 1300 368 939 to place sell orders by phone.
Q: How much does it cost?
A: Depending on how many shareholdings you have, the size of your order and how you place it, the cost for selling shares varies. The common cost for selling shares is $48.95 per shareholding (including GST) for sell orders placed online. Click here for our full fee schedule.
Q: How much/what price do the shares sell for?
A: All trades are executed at the market price at the time of your order. For sell orders placed outside of market trading hours of 10 am and 4 pm AEST, your order will be executed at the market price on the following trading day.
Q: When do you sell the shares?
A: Depending on what shares you are selling and the time of your order; shares are generally sold within a few minutes of you submitting your sell order. For orders entered after the market has closed at 4 pm AEST or before the market has opened at 10 am AEST, your shares will be sold as soon as the market reopens. Delays can occur during the validation stage while your details are cross-checked with the share registry, however this is generally only for shareholdings managed by Link Market Services.
Q: What shares can we sell?
A: You can sell almost any issuer sponsored shares through OneTrade. Issuer sponsored shares are identified by an Securityholder Reference Number (SRN) which is usually a 10 digit number beginning with an 'I'. An SRN is also referred to as a Holder Number, Shareholder Reference Number or simply Reference Number.
Q: What shares can't we sell?
A: There is a select list of shares that we can't sell. We also cannot sell broker sponsored (CHESS) holdings, which are identified by a Holder Identification Number similar to an SRN beginning with an 'X'.
Q: When do we get our money/receive the cheque?
A: Shareholders generally receive the net sale proceeds by cheque within 7 days of your order being executed. Cheques are posted on the settlement date of the transaction, which is 3 business days after the trade date (T+3).
Q: Where do you send the cheque?
A: We can only send cheques to the shareholders registered address, so before placing your sell order ensure your address is up-to-date.
Q: How do we pay your brokerage fee?
A: Our fee (including GST) is deducted from the sale proceeds by our settlements provider, E*TRADE Australia. You do not have to make any other arrangments to pay brokerage fees.
Q: How do we know OneTrade is safe?
A: There are a few reasons why OneTrade is extremely safe to use. OneTrade Australia, the operator of the OneTrade service is licensed by ASIC to carry out financial services; our sell order form uses SSL technology to keep your details secure when transmitting to our database, just like a banking website; All details collected through OneTrade remain private and confidential, and; OneTrade have securely completed thousands of sell orders for Australian shareholders without fail.
Q: Can we sell only some of our shares?
A: Unlike other services, with OneTrade you can sell all or part of your shareholding. For example, if you have 400 Telstra (TLS) shares and you only want to sell 200 of them, all you need to do is nominate in your sell order the exact amount you would like to sell, and the shares left over will remain in your issuer sponsored shareholding under your existing reference number.
Q: Can we sell shares more than once?
A: You can use OneTrade to sell shares as many times as you like, as long as you own the shares you are requesting to sell.
Q: Why are there some shares you can't sell?
A: The reason there are some shares we can't sell is because those companies unfortunately do not permit the sale of their shares as one-off transactions.
Q: How is E*TRADE Australia involved with OneTrade?
A: OneTrade outsource the execution and settlement of transactions to E*TRADE Australia. Almost every stockbroker in Australia will outsource this function for their company as there are only a handful of companies that are eligible to provide this service.
Q: What do we do with the Contract Note?
A: A Contract Note is your tax invoice for the sale of your shares. Contract Notes should be filed away in a safe place as you will need the information for tax purposes.
