Sell Shares Without a Broker - Sell My Shares (2024)

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.

Sell Shares Without a Broker - Sell My Shares (2024)


Sell Shares Without a Broker - Sell My Shares? ›

Yes, you can legally sell your shares of stock without a broker license. However, you would typically need to do so through a brokerage firm that is registered with the financial regulatory authorities.

Can I sell my shares without a broker? ›

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.

Do you have to use a broker to sell shares? ›

Usually you need to open an account with a broker to buy and sell stocks online. Some publicly traded companies, however, do offer a direct stock purchase plan (DSPP), where you can buy shares directly. Instead of using a broker, the company's transfer agent manages the transaction.

Can a broker sell your shares without permission? ›

According to the Financial Industry Regulatory Authority (FINRA) unauthorized trading is one of the most common problems that traders and investors should watch out for. Generally, if a broker sells your position without your consent and knowledge, they could be liable for unauthorized trading.

How do I sell stock certificates without a broker? ›

Via the transfer agent: The transfer agent is a firm responsible for managing stock transfers on behalf of a publicly traded company. To sell your old stock certificates through the transfer agent, you should get in touch with them and complete a stock transfer form.

How do I cash out my shares? ›

Investors can cash out stocks by selling them on a stock exchange through a broker. Stocks are relatively liquid assets, meaning they can be converted into cash quickly, especially compared to investments like real estate or jewelry.

Who can sell my shares for me? ›

Most people looking to sell shares will do so via a brokerage, like IG or Hargreaves Lansdown.

What is the easiest way to sell shares? ›

Filling out the trade ticket is a quick process: You'll select sell, plug in the symbol of the stock, the number of shares, your order type (and limit or stop price, if applicable) and what's called the “time in force” or order expiration: essentially, how long the order should remain open.

Does my broker own my shares? ›

A security is held in "street name" when a brokerage holds it on behalf of a client. The name that appears on the stock or bond certificate is that of the broker, but the person who paid for the securities retains ownership rights.

Can I sell my shares to anyone? ›

Private limited companies which are registered with Companies House are able to sell, gift or transfer company shares to other individuals. A company share represents a proportion of the business which you own.

Why was my stock sold without permission? ›

However, chances are that your broker did nothing wrong at all. Instead, you may have been subject to selling in an account where the broker had discretion to place trades, or you had a margin account that experienced sufficient losses to warrant an unmet margin call.

Can a company force me to sell my shares? ›

However, there are a few situations in which shareholders must sell their stock even if they would prefer to hold onto their shares. The two most common are when a company gets acquired and when it has an agreement among shareholders calling for forced sales.

Can my broker lend out my shares to short sellers without asking? ›

The only case where your broker might lend your securities without your knowledge is when you have a margin account and you are actually borrowing money. > brokers cannot lend your shares without a written agreement allowing it.

How do you prove ownership of a stock? ›

Your securities held in registered ownership form can be represented by a physical certificate or can be in book-entry form at the company (also called the issuer) or its transfer agent (which is often referred to as “direct registration.”) In general, the term “book-entry” simply means that you do not receive a ...

How do I sell physical shares of stock? ›

To sell a security for which you hold a physical certificate: check with your broker-dealer to see if they accept delivery of physical certificates, and if so, deliver the certificate to your broker-dealer according to the firm's instructions and with your instructions to sell; or.

How do I sell shares if I have a share certificate? ›

You'll first need to open a nominee share dealing account, then send your certificates to the chosen broker with a completed transfer form. Check first to find out what, if any, charges there will be for this.

How much does it cost to sell shares? ›

Most brokers charge you for every certificate you sell, but how much depends on the value of your shares. Some will offer discounts for regular traders. For example, if you sell shares worth £10,000, you may get charged 1% (£100) to sell them. But if you sell another £10,000, the charge may reduce to 0.5% (£50).

Can I sell my own shares? ›

If you hold shares directly, you can sell them by placing a trade online or contacting your broker. You pay a fee each time you make a trade. You exchange the legal title of ownership when you sell shares.

How much does Computershare charge to sell shares? ›

– Each market order sale will entail a transaction fee of $20 plus $0.10 per share* sold. – Fees are deducted from the proceeds derived from the sale. *All per share fees include any brokerage commissions Computershare is required to pay.


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