Last modified: December 8th, 2022 at 12:32 pm
Investing can be intimidating. There’s a tonne of investment information out there, and it can all be a bit overwhelming knowing where to start. Fortunately, Sharesies makes investing simple and easy so that anyone can start their own investment portfolio in minutes.
Whether you have $5 or $5,000 (or more), Sharesies allows you to invest in NZ and US companies and funds without the confusion and hassle that comes with standard investment platforms.
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How does Sharesies work?
There are two ways to invest with Sharesies; you can buy shares in specific companies or invest in funds. With Sharesies, you can spread your investments across as many companies or funds that you like.
It is essential to know that there is an element of risk here. Sharesies does not promise that you will make money on your investments.
The best way to go about this is to make sure you’re comfortable with how you are investing. While higher risk can mean a higher reward, it can also result in higher losses. Being uncomfortable with your investments can lead to panic decisions that leave you worse off.
Fortunately, Sharesies allows you to feel comfortable with your investments by defining how risky an investment is. With Sharesies, every time you invest in a company or fund, the platform will show you how risky it is, with its risk assessment tracker. This adds a comfort level in that it allows you to invest at your own pace without being complicated or scary.
You can easily transfer any amount of money from your bank account to your Sharesies account and allocate that money to any investment options you like. You can spread your investments out or put it all into one option: the choice is yours.
Sharesies allows for any amount for investments. You can invest 50c, $500 or more; it’s entirely up to you.
While Sharesies does recommend you play a long game with your investments, you can withdraw your money from your Sharesies account at any time.
How much does Sharesies cost?
Sharesies has a subscription-based model and the price changes depending on how much you have in your portfolio.
If there is $50 or less in your portfolio, then it is free to use Sharesies. If you have between $50 and $3000 in your portfolio it costs $1.50/month. Over $3000 costs $3/month. You could also opt for the pay annually option, which is only $30/year.
There are also transaction fees with Sharesies, also called “Brokerage fees.” These are common and are charged whenever or wherever you invest. With Sharesies, the transaction fees are based on the dollar value that you buy or sell.
For orders up to $3000, there is a 0.5% transaction fee. If you go above $3000, then a 0.1% fee is added on. For example, if you made an order of $6000, it would include a $15 transaction fee for the first $3000, (0.5% of 3000 is 15) and 0.1% of the other $3000, (0.1% of 3000 is 3). This means that you would pay a total transaction fee of $18.
How to sign up to Sharesies
It’s important to know that Sharesies doesn’t have an app. To gain access to the investment platform, you will need to go to sharesies.nz on any internet browser.
- Visit sharesies.nz
- Click on Sign Up
- If you don’t have an account already click on sign up again
- Put in your details.
- Select a form of ID
- Fill out the required details.
- Sharesies will confirm your identity and give you a unique reference number to deposit your money in.