Betashares Direct is the new investing platform designed to help you build wealth, your way. You can learn more about Betashares, Betashares Direct, the Early Access period, and more in our frequently asked questions below.
What is Betashares Direct?
Betashares Direct is a new investing platform designed to help you build wealth, your way.
With Betashares Direct you can invest in any ETF traded on the ASX with zero brokerage*. You can also cost-effectively automate your investing strategy including setting up recurring investments, access professionally constructed pre-built portfolios or build-your-own custom portfolios, all with streamlined, personalised performance and tax reporting to make your investments simple to administer and manage.
Early Access is an opportunity for you to be amongst the first to use Betashares Direct, before we open it to all Australians.
As an early access user you will also get the first chance to use new features that are released in the coming months and directly contribute to supporting the Betashares product team to make investing better for Australian investors.
To get early access, please register your email address on our waitlist. After registering, you’ll receive an email with an early access key to create a Betashares Direct account. Please excuse any delays that occur- to make sure the process goes smoothly for our Early Access users we will be onboarding customers in batches and so it might take several weeks between registering and receiving your early access key.
Betashares is a leading Australian fund manager, with a focus on exchange traded funds (ETFs). Established in 2009 with the vision of enabling every Australian to financially progress, we serve over 1 million investors and thousands of financial advisers, managing more than $30 billion in assets.
It takes just a few minutes to open an account with Betashares Direct.
After registering for early access, you will receive, via email, a unique access key which will provide you with early access. Please excuse any delays that occur- to make sure the process goes smoothly for our Early Access users we will be onboarding customers in batches and so it might take several weeks between registering and receiving your unique access key. Using that unique key, simply sign-up and register for an account by providing:
• your email address, • your name, date of birth, and address (as they appear on your ID)
If we are unable to verify your identity from the information provided above, we may ask for additional information including:
• a current Australian Driver’s Licence, or • an Australian passport or international passport within three years of its expiry date.
What if I don’t have a passport or driver’s licence?
If you don’t have a current Australian Driver’s Licence or a valid passport, our customer support team will assist you through live chat or via email (firstname.lastname@example.org) by asking for documents such as your Medicare card, bank statements, or utility bills.
To comply with Australian AML/CTF laws and AUSTRAC guidelines, Betashares is obliged to collect certain personal details to open a Betashares Direct account for you. This includes your legal name, date of birth, address, and sources of wealth.
What are the investment options on Betashares Direct?
Betashares Direct currently offers access to the following investment options:
• Any ETF traded on the ASX or Cboe Australia with zero brokerage • AutoPilot - automated investing allowing you to: • set up recurring investments into one or more ETFs of your choosing; • invest in a range of professionally constructed pre-built portfolios to suit different risk/return profiles and investment strategies, or • build your own custom ETF portfolio (up to a maximum 10 ETFs) to suit your own goals and financial circumstances.
What is AutoPilot?
AutoPilot lets you easily and efficiently automate your investing strategy. The benefits of AutoPilot include:
• Make recurring or one-off investments from your bank account directly into your Autopilot portfolio • Choose from diversified pre-built portfolios, or customise your own investment strategy • Instantly top up your AutoPilot direct from your Cash Wallet • Your investments into AutoPilot are made automatically according to your chosen portfolio’s strategy • Automatic monitoring and rebalancing of your portfolio • Automatic reinvestment of your distributions • Low monthly fees with zero brokerage
How does Betashares protect my account and personal data?
The security of your Betashares Direct account is very important to us. We have implemented robust measures to safeguard your account and sensitive personal information:
• You are verified by email when your account is created and each time you login • We will notify you when a new login is detected, highlighting the time of login and device used. • For mobile, access to your account is secured with a unique passcode. If your device supports it, you can use Face ID for quick and secure access. • Data, including personal information data, is encrypted to prevent external attackers accessing unencrypted data and protect against data breaches. • Protections in place if your Betashares Direct account is shared on screen sharing tools typically used in phishing attempts.
If you have any security of privacy concerns at all relating to your use of Betashares Direct please contact customer support through the live chat feature, via email email@example.com, or over the phone 1300 202 738.
Can I transfer my ETFs from my existing broker to Betashares Direct?
The ability to transfer ETFs from and to another broker will be made available soon. If you have registered for the waitlist you’ll be amongst the first to know when this feature is made available.
Is Betashares Direct available on Web?
Not right now, but access via Web will be available in the near future. If you sign up to our waitlist, you’ll be amongst the first to know when the Web application is launched.
Is Betashares Direct available on Android?
Not right now, but an Android application will be available in the near future. If you sign up to our waitlist, you’ll be amongst the first to know when it has launched.
Is Betashares Direct available for SMSFs, Trusts and Companies?
Betashares Direct will be open to SMSF and Trust accounts soon. Join the waitlist here to sign up as an individual investor, and we’ll notify you when non-individual accounts are available.
Do I own my investments held on Betashares Direct?
You are the beneficial owner of the investments held in your Betashares Direct account. As the beneficial owner, you retain the rights to distributions paid on your investments. You have the sole right to dispose of (sell) your investments.
All investments are held on a pooled basis by the custodian of Betashares Direct. Betashares has appointed Citigroup Pty Ltd as the custodian to hold investments on Betashares’ behalf.
When you open a Betashares Direct account, a Cash Wallet will be opened for you. The cash in your Cash Wallet will be pooled with the cash balance of other investors, and held in one or more Australian bank accounts operated by the custodian.
Do I need to be an Australian tax resident to invest on Betashares Direct?
Yes, currently Betashares Direct is only available to Australian tax residents. This means you must be able to provide an Australian residential address as a part of the onboarding requirements.
When you make your first deposit into your Betashares Direct account, you will also be asked if you are a tax resident of any other country. If so, you will be asked to provide your Tax Identification Number (TIN) for that country.
If you are a tax resident of the United States (as well as Australia) the field to enter your TIN will be mandatory because we are required to collect this under the Foreign Account Tax Compliance Act (FATCA).
How does Betashares Direct help me with Tax Reporting?
Betashares Direct has been built to significantly simplify tax time for you.
At the end of each financial year, Betashares will automatically provide you with a single annual tax statement relating to all your investments in Betashares Direct. This includes gains and losses from ETFs bought and sold over the last financial year, income received from ETF distributions, and the consolidated report of all the tax attributes associated with your ETF holdings on Betashares Direct. You will be able to use this document, or send to your accountant to facilitate efficient preparation of your tax return.
In addition, information from your Betashares Direct annual tax statement will be provided to the ATO, who will use it to pre-fill your tax return on myGov account.
The Betashares Invest Tax Guide is also available to accompany the annual tax statement which may also assist you or your tax agent with the preparation of your tax return.
What are the fees and costs for using Betashares Direct?
Betashares Direct aims to keep your costs low, to help you maximise your investment returns over the long-term.
No brokerage fees apply for investing in, or selling, ETFs using Betashares Direct. If you decide to automate your investing using an AutoPilot Portfolio (pre-built portfolios or custom portfolios), low monthly portfolio fees apply. These portfolio fees don't apply to an AutoPilot custom portfolio with a single Betashares ETF. Interest income received by Betashares on the cash balance in your Cash Wallet is charged as a Cash Administration Fee, however, this fee is not directly deducted from your Betashares Direct account. No minimum cash balance applies to your Cash Wallet. No other account or transaction fees apply to your Betashares Direct account. Consistent with Betashares philosophy and focus on helping clients build long term wealth, Betashares Direct is subject to a fair use policy, to ensure the platform is not used in an excessive manner.
Do platform fees apply to your individual ETF holdings on Betashares Direct?
No platform fees apply to individual ETFs held in your Betashares Direct account (i.e the ETFs held outside an AutoPilot Portfolio). Please note that interest income received by Betashares on the cash balance in your Cash Wallet is currently retained by Betashares as a Cash Administration Fee. This fee is not directly deducted from your Betashares Direct account. No minimum cash balance applies to your Cash Wallet.
I’m a financial adviser, how can I make use of Betashares Direct?
Betashares Direct is currently for self-directed investors. Financial advisers continue to be a core focus of our business and we are actively exploring functionality that will enable financial professionals to work with their clients on the platform, as well as a financial adviser referral program for investors with more complex needs. If you would like to provide feedback into what adviser specific features would be of most value, we encourage you to contact us. Financial advisers are also able to register for Betashares Direct accounts as individual investors.
Still have questions?
Access support your way: whether it be live chat, email, or phone, our expert Australian-based support team is here to help.
Betashares Capital Limited (ABN 78 139 566 868, AFSL 341181) is the issuer of Betashares Invest, being the IDPS-like scheme available through the Betashares Direct platform. Before opening an account or making an investment decision, read the Product Disclosure Statement and the Target Market Determination for Betashares Invest, available by emailing Customer Support at firstname.lastname@example.org or by phone on 1300 487 577, to consider whether the product is right for you. You should also consider the applicable disclosure document for any underlying investment available through Betashares Invest before making an investment decision. This information is general in nature and doesn’t take into account your financial objectives, situation or needs. You should consider its appropriateness taking into account such factors and seek professional financial advice. Investing involves risk.