Is Sharesies still worth it? Sharesies Review 2022

Should you still use Sharesies? Sharesies is a New Zealand-based online investment platform that allows users to easily invest in a wide range of funds and companies. In this Sharesies Review 2022, we will analyze whether it is still a recommended option for investors. We will delve into its features, fees, customer support, and overall user experience. By the end of this review, you will have a clear understanding of whether or not Sharesies is worth your consideration for your investment needs.

Today we’re going to be doing an updated review of the trading platform sharesies for the new year now since my sharesies review last year they have made a few changes they have an updated interface incorporating their trading for u.s and the australian markets and have a slightly different fee structure now in

This review we’re going to cover markets that shares these trade on which includes the new zealand market the nzx the u.s market the new york stock exchange and the tech heavy nasdaq with over 5000 different companies and funds and the australian market the asx with more than 2 000 companies and funds

We’re going to talk about how to search for a company how to by actually buying the shares and what are some of the good shares to buy for people that are first starting of course we’re also going to cover the fees and other common questions such as

Is chezzy a safe trading platform or do you need to be a new zealand residence to use jerseys and finally who shares these is most suited for now i have a link to sign up to share these in the descriptions below which you can use to sign up and get some free

Credits because everyone loves some free stuff before i continue on one of the most common questions that i get is what is the difference between shares and stocks and the answer is there is no difference in new zealand we commonly use the term shares when referring to

Shares of a company while overseas in the us they refer to the same thing as stocks both terms are interchangeable and you can use either one of them let’s now hop onto the computer and bring up the main cheers menu so here we have the main sharesies menu

You can see your total portfolio value and the total return from your portfolio the simple return in percentage and the amount of dollars that you have put in if we scroll down you can see that you have the amount in your wallet that you can invest in and we can stroll down

Even further to see the companies that you currently hold at the moment in order to search for a particular company we simply go to invest and then from here you can type out the name of the company that you want to invest in for example if i want to invest in apple

I could simply just type apple and go to the apple stock now one of the uh quick tip is that you can check for the opening hours of the exchange if it’s an international exchange for example apple is in the u.s exchange and you can check that the opening time

Is 3 30 a.m new zealand time to 10 a.m new zealand time so if i choose a uh australian stock for example the commonwealth bank commonwealth bank of australia you can see that currently their stock exchange is open and they are open from 12 pm new zealand time to 6 12 pm

New zealand time if we just go to an example new zealand company such as fisher and pike or healthcare if we want to purchase shares we can click on the buy button and there are two main purchasing methods so there is the market buy and

The limit buy so a market buy is where you send in an order and sharesies tries to match the uh buyer to the seller on the spot now market buy can be kind of tricky because prices displayed on sharesies is on a delay which means that you might not be

Getting the shares at the price that you see on screen now what i personally tend to do is to use limit buy so with limit buy you specify the amount of that you want to spend on one particular share so for example fish and pike or healthcare is

31.90 at the moment and say if i want to purchase a share at a 31 new zealand dollars and then you can specify the total amount that you want to spend on the particular share however with limited buys there is a possibility that your order will not get filled if the price

Doesn’t lower to the amount that you have specified one of the benefits of market buy is that you can purchase fractional shares this means that if one share of a particular company is very expensive you can buy less than one share of a particular company so for example i can

Spend like ten dollars on the efficient part called healthcare shares and get around a third of a share the downside is that you can only buy fractional shares using limit buys on the new zealand companies but not for the u.s or australian companies so for example if i pick a u.s company

And i want to buy a limit order i would have to buy a whole share instead of being able to buy a fractional share so what did you buy when you first start investing now this is another one of those very common questions that i often get

Now when i first started buying shares i simply bought some broad market etfs etf stands for exchange traded fund which are a collection of companies bundled into one trading unit now buying etfs are usually considered safer than buying individual company stocks because they are more diversified now if you are

Interested in learning more check out my video on comparing the different new zealand top 50 etfs and my other video on some of the best vanguard etfs so let’s now talk about the all important fees fees on sharesies are broadly separated into trading or transaction fees management fees and exchange fees

For transaction fees you are charged a transaction fee each time you buy and sell shares and companies or exchange traded funds across all the three markets that she has these covered now for amounts up to three thousand dollars there is a zero point five percent fee and for amount above the three thousand

Dollar mark the fee is down to zero point one percent there is a quick calculator on the shares these websites which you can get a rough estimate of the number of fees that you get so for example if you place an order of one thousand dollars the fees around the five dollars altogether

And if you have a high amount for example if you are trading five thousand dollars there’s a zero point five percent fee up to three thousand dollars which is around fifteen dollars and the zero point one percent fee above the three thousand which adds up to

About two dollars for a total fee of around 17 if you purchase a managed fund there’s usually a management fee associated with it that’s charged annually as well so for a managed fund you get charged a transactional fee plus a management fee so for example if we look at the smart

Shares new zealand top 50 fund we can scroll down and see this transaction fee goes from 0.5 percent to 0.1 percent and they have an annual management fee of 0.5 percent if you purchase international shares there is a 0.4 currency exchange fee when you exchange money now you can

Choose to exchange money when the rate is favorable or simply exchange at the time when purchasing the international shares another common question is that is chersey is safe so sharzy separates the company operating account from your investment account so they hold all your investments in a separate custody account so that

Even if shares is the company shuts down your money will still be safe in a different account so finally the big question is who exactly is shares ease for now in order to sign up for sharesies you need to be over 16 years old in new zealand

Residents and have a working new zealand bank account jersey has a trading platform is good for beginners to intermediate traders and investors because they have an extremely clean and easy to use interface along with a web-based mobile app now they cover the three main markets for new zealanders which

Includes the new zealand the us and the australian market they have probably the lowest fees for trading new zealand companies compared to other brokers in new zealand the downside for sharesies is that they are probably cheaper brokers for trading international shares but that just means that if you want to

Do it that way you will need to use multiple platforms now they are not that good for advanced traders because you don’t get a real-time share price update now if you’re interested in getting real-time share price updates you can go to settings and choose to add on the

New zealand market depth but that will cost you an additional ten dollars per month now unless you are a pretty serious trader most people probably wouldn’t need this particular option the other downside is that she as you charge a transactional fee for purchasing managed funds there are other platforms

In new zealand such as invest now or smart shares that have either no transaction fee or just a setup fee for buying managed funds so if you’re only interested in buying managed funds they might be a better option if you’re interested in signing up to share these

There’s a link in the description below where you can get some free credits for signing up if you’re interested in another trading platform check out my reviews on those as well and i’ll see you in the next video

After conducting a thorough review of Sharesies, it is evident that the platform continues to be a viable option for investors in 2022. Firstly, the wide range of investment options available, including shares, ETFs, and managed funds, caters to diverse investment preferences. Secondly, the user-friendly interface and accessible mobile app make it easy for both experienced and novice investors to navigate and manage their investments. Lastly, the low fee structure, coupled with the absence of a minimum investment requirement, makes Sharesies an affordable choice for individuals looking to grow their wealth over time. Overall, Sharesies remains a reliable and recommended platform for investors seeking simplicity, affordability, and a diverse investment portfolio.

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