Moving from Commtrade to NABtrade

Hi all - I'm a complete newbie when it comes to direct share ownership.

My question is, let's say I create a Commtrade account and use this to buy 100x Telstra shares. Within my Commtrade account I assume I can log in and see 'Telstra shares = 100' (or whatever the current value is).

Then, let's say I have had enough Commtrade, and want to use NABtrade to buy/sell/manage my shares.

When I go and create an account on NABtrade, do I need to enter that I own 100 worth of Telstra shares? Or do I own the 100 Telstra shares within my Commbank share account, which I would need to transfer out of CBA into NAB, similar to a bank account?

Which then raises the question, why would anyone own any significant amount of shares within a non-rock solid institution like one of the Big 4? How would the smaller guys compete? And, can you 'take' the shares out and own them yourself (not have them in any account, like hold onto the shareholding certificate or similar?)

Pretty basic questions I know Thanks.

 

I dont think there's anywhere you will be able to enter that you hold the shares on Nabtrade if held with Commsec, you could on your Sharesight portfolio though

Have never transferred shares from one platform to another, but there's this..

How to TRANSFER YOUR SHARES TO NABTRADE

How do I transfer shares held by another party to CommSec?

Transferring shares online with the Big Four

 

Might be worth reading this to give more understanding of how shares are transacted on ASX.

Clearing House Electronic Subregister System - Wikipedia

 

Yep you would "transfer shares" from one trading platform to another.

I don't hold shares in Australia apart from Super etc, but I can tell you from my experience in dealing with trading platforms here in the USA its very easy for someone "to compete with the big 4".

Wait until you have invested for a while and you'll understand its the software/trading platform nd execution that makes the difference.

eg when I started I put $10k each into etrade/fidelity/schwab/tdameritrade and traded for a few months on their platforms, basically setting up watching lists and trying out different alerts/transactions to get a feel for them before deciding on TDAmeritrade (but I use their Think Or Swim software for everything and not their website).

I don't trade options and I don't trade on margin otherwise I might consider Interactive Brokers and if I didn't trade much then I might trade on one of the free services like RobinHood.

There are still things that the TD TOS platform doesn't do that I would like (and I keep bugging their customer support about adding these features) but my point being if another platform came along tomorrow that worked better for me.....I'd swap as who you trade with is irrelevant.

 

Commtrade, Nabsec, all Greek to me.

You can't, obviously, have shares with the same HIN under different trading platforms, you'll need to transfer and the process shouldn't be too complex.

 

Just like why people hold accounts with smaller banks amd building societies. Laws protect you even if your broker goes under.

 

If you have the twice a year statements with the "HIN" number's then it would only take minutes from one to the other -but the question is why would you do that,more simple just to have one trading platform ..imho..
With the question about why would anyone have a high % invested in the Big4 Banks ,the only way to answer that is when the fully franked div's start turning up in po box in a week orso for a while,and CBA is paying out with a glimmer of uncertainty and hope..in medio stat virtus..

 

Hi Willair, the question was really just for me to understand how the ownership works.

From what it sounds like, you can only 'own' a share through a trading platform or bank's account - am I right in saying there is no way to 'withdraw' them from this system and hold onto them with your own hands?

 

Before I started with Commsec I just used one Broker with Morgans ,but had other standalone holdings outside the broker but everyone in my name ..With the question with ownership ,and i'm not a Accountant..But from my simple understanding from holding single holdings from the way the statements read --you have a holder id number "hin"-linked to your name -the same as the chess sponsors ID "pid""linked to your name total ownership under that name on the statement.
.
With Commsec ,say if you buy 1000 cba then another 1000 days in between -or any listed equity -then they combine into one holding -unlike the other holding in banks that are under a different HIN and PID..

Only my opinion but , once the ownership is listed in your name you have total control..imho..