How to Sell Shares Without A Broker
Many Australians may hold shares that they never bought themselves and want to know at some stage how to sell shares without a broker.
You may assume that to sell shares in Australia that you need to hire an expensive stockbroking firm. This isn’t necessarily true.
To sell ASX-listed shares in Australia you will need a broker or broking service to execute the trade for you, but the sale can sometimes be completed by using an online broking service.
Whether you need to engage with an actual broker depends on what kind of shares you hold and the circ*mstances of you acquiring those shares.
For issuer-sponsored shares, that is, shares you hold via a direct relationship with the company you hold shares in, you can use a simple online broking service like Sell My Shares to facilitate the sale of your shares.
This isn’t the same as having to establish a relationship with a full-service stockbroking firm.
Sell My Shares is an online platform and will act as the share registry holder and manage the transaction for you. So effectively you can sell shares without a broker in the typical sense.
Of course, Sell My Shares meets all legal obligations required to sell shares in Australia and takes care of everything for you but our service doesn’t come with all the expense and hassle of appointing and dealing with a stockbroking firm or the need to set up a trading account.
