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ASB Securities Review: Buy shares, invest in funds, and more

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We breakdown the pros and cons of diving into investing with ASB Securities

ASB Securities is the DIY share trading platform of ASB Bank, offering a diverse range of investment options and different ways of trading through the same platform.

This review looks at what those options are, how much it costs and where to begin.

Details

Type of brokerOnline, Mobile
ASX productsN/A
Standard brokerageAUD 30 for ASX trades, $15 for NZX trades
SupportPhone, Email

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What can I invest in with ASB Securities?

ASB Securities’ available investment types include:

  • Shares. Invest in individual companies.
  • Exchange traded funds (ETFs). Collections of shares or other assets, making it easier to diversify a portfolio.
  • Fixed interest securities. Investments that pay fixed returns, including government and corporate bonds, preferential shares and term deposits.
  • Margin lending. High risk trading, where traders borrow money to amplify gains and losses. On ASB Securities, traders can use stocks as collateral for margin trading.

These offerings can be accessed through ASB Securities’ online share trading platform, although the rates and fees vary for each.

How much does it cost?

Different ASB Securities products will incur different types of fees. It’s essential that you’re aware of these, because it may be possible to rack up extremely high fees if you’re not paying attention to costs such as overdraft fees.

Brokerage fees

The basic brokerage fees, for buying and selling shares, ETFs and fixed interest securities, are as follows.

InvestmentBrokerage fee
Shares, ETFs (New Zealand securities)$15 for trades up to $1,000
$30 for trades over $1,000 and up to $10,000
0.30% for trades over $10,000
Shares, ETFs (Australian securities)0.30% (AU$30 minimum per trade)
Fixed interest0.70%

No sales fees apply when holding bonds to maturity

Margin lending fees

If you use the high-risk margin lending offering, there are also some additional fees to watch out for.

TypeFeeHow it works
Margin lending interest rate4.95% p.a.Fee is calculated daily on the amount borrowed and charged monthly
Termination feeUp to $200Charged when closing margin lending account and transferring stocks out
Nominee fee$125 every six monthsCharged after each six month period. Waived if you have paid $400 or more in margin lending interest in the preceding 6 months.
Stock transfer fee$30Charged per stock when adding or removing stocks as margin lending collateral

It’s mandatory for margin lenders to use the nominee service, which incurs the above nominee fee and stock transfer fee.

But other ASB Securities users can also use the nominee service if needed, with the same nominee and stock transfer fees.

Banking fees

When you sign up for ASB Securities, it will create an ASB Cash Management Account for you. Trading is done through this bank account, so you will need to be aware of any fees incurred in transfers you make to this account.

TypeAmount
Unarranged overdraft fee0.12%

Applies to the highest overdrawn balance each month, and all unarranged overdrafts exceeding $20

Unarranged overdraft interest rate22.5% p.a. charged daily
Funds transferred to another ASB bank accountFree
BPAY payments$12

Is ASB Securities safe?

ASB Securities is the trading service of ASB Bank, the New Zealand subsidiary of Commonwealth Bank.

The cash in your account is as safe as in any other ASB bank account, while your securities are held by registered custodians.

How to sign up

If you already have an ASB bank account you can log into it online, and then sign up for an individual share trading account through that.

If you’re not already an ASB customer, or want to open a joint, entity or business share trading account, you can fill out the online application form.

This involves providing some personal and banking details, identification and tax information.

Once you’ve created an account, you can get started by depositing funds into your ASB cash management account, and then placing orders.

Disclaimer: 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 comes with a higher risk of losing money rapidly due to leverage. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades.

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