Help, how do I sell shares on Australian Stock Market?

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abcfc
abcfc Posts: 1 Newbie
in Savings & investments
Due to a house purchase I am terminally broke, but I do have around 13k worth of CBA shares (Commonwealth Bank of Australia) but I am finding it difficult to sell them. I have contacted a few brokers but they don't deal on the ASX market and are not allowed to advise me who does!
Any ideas?

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  • JoeCrystal
    JoeCrystal Posts: 3,013 Forumite
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    Here is what I found after looking at CBA website...

    How     can I buy or sell my Commonwealth Bank shares if I live overseas?

    All sales need to go through a broker who is able to trade on the Australian Securities Exchange (ASX), as these shares are listed on the ASX.

    You will need to contact the broker of your choice, as all brokers charge a different fee for their services. These can be either telephone based or internet based brokers. You can find an internet based brokers on the Find a broker page of the ASX website.


    You will require your Security holder Reference Number (SRN) or Holder Identification Number (HIN). This can be located on Statements and all personalised forms and would begin with the letter "I" or "X".


    If you reside in the United Kingdom, the London Stock Exchange (LSE) can also assist you in locating a stockbroker who is able to trade on the ASX. You can also call them on +44 (0) 20 7797 1000.

    :o So your best bet is to ring up London Stock Exchange...
  • Mr_Matey
    Mr_Matey Posts: 608 Forumite
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    Try Comsec or E-trade, both cheap and easy to use:
    www.comsec.com.au
    www.etrade.com.au

    You can easily open an account with them, transfer existing shares and buy/sell online. They have telephone brokers and such as well.
  • Jerry_Kipler
    Jerry_Kipler Posts: 1 Newbie
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    When you get your money you may want to consider re-investing a small amount if you are not going to have a new source of income. Put most of it in the bank but invest some so you have a chance of making some money. Consult someone about the best ways to invest moneybefore you invest though, you will want to make sure that you can have the highest chance for making money and make every single dollar you've got count.
  • googler
    googler Posts: 16,103 Forumite
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    livefaq, read the forum rules - no posting for personal gain.
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