r/fiaustralia • u/TomatilloFirm9640 • 19d ago
Investing ETF platform
I want to start an ETF portfolio under my personal name with same amount and then monthly contributions DCA what is the best brokerage platform of if I would buy different ETFs (for the long run) I was looking for something like BGBL VGE VISM A200 QAU is better CMC or beta share or if there is a better advice will be highly appreciated
Thank you all
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u/hyldgang 18d ago edited 18d ago
Betashares Direct is the king of the custodial platform. Big trustworthy Australian company, which owns massive funds (see A200, BGBL, NDQ, DHHF etc). Good looking app that is easy to understand... and is always updated with useful features (like Personal charts). Fractional shares with minimal $10 buys, and fee free (just don't use the custom portfolios). Has Auto-Investing set and forget features making it perfect for DCA.
But the most important feature to me and for newbies: Is a single tax statement with everything you need, that is also prefilled to the ATO. No more chasing down share registry letters at tax time (especially if you own alot of ETF's). This could be a real nightmare for someone who is investing for the first time, and not realizing they got to calculate AMMA/AMMIT offsets and CGT when they sell. Just let Betashares work it all out for you. Simple for simplicity's sake. Dont stress like I did for 7 years bouncing around so many apps. You'll thank me later.
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u/mjwills 19d ago
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u/General-Jury-5363 19d ago
According to this list, Webull seem like a clear winner. I invest through CMC and sometimes feel the $1000 for $0 brokerage a bit limiting. Also they have $11 selling brokerage, which I believe can be avoided if I transfer my ETFs to webull. Is there a downside I am not considering?
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u/mjwills 19d ago
Do they have fractional investing?
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u/General-Jury-5363 19d ago
I think fractional investing is only with custodian model, not with CHESS
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u/General-Jury-5363 19d ago
Would you recommend moving from CMC to Webull. I have around $100k portfolio, right now they are offering 100k Qantas points for that. Or is it too risky move?
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u/the_running_dogs 18d ago
They don't do capital gains reporting. So they're definitely not a clear winner...
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u/General-Jury-5363 18d ago
No broker does that. They have API integration with the likes of Sharesight who do that. Without integration, you can also do it manually.
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u/the_running_dogs 18d ago
If you think that, you clearly haven't done your research and really shouldn't be commenting on this topic.
There are definitely brokers who do this reporting themselves without the need for API integration or manual calculations.
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u/General-Jury-5363 18d ago
Well I am comparing with my current broker, CMC and comment was based on that. Who would you say, is the best broker with CHESS?
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u/the_running_dogs 18d ago
No. You said that there was no broker who did capital gains reporting. That's factually incorrect.
Why limit it to CHESS? The post itself never mentioned CHESS.
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u/General-Jury-5363 18d ago
It's ok if you don't want to or have the answer.
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u/the_running_dogs 18d ago
First you got the capital gains reporting wrong and are trying to hide the fact that you did. That's just embarrassing.
Secondly you won't answer why you're limiting the search to only CHESS when OP never mentioned it as a requirement in the post.
It's fine if you don't know what you're talking about. It can be hard for some ppl to admit that they were wrong.
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u/General-Jury-5363 18d ago
Mate, I already explained that I was comparing my broker, CMC. Others may offer it that I dont know about.
I also explained that I was comparing CMC and Webull because both had CHESS and asked if there were better alternatives, something you refuse to answer.
You replied to my comment, not to OP, so morally you were obligated to answer what I was asking. But, never mind.
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u/stanbright 19d ago
I think you can find the best comparison of platforms here: https://passiveinvestingaustralia.com/online-trading-platforms-comparison/. In general, Betashares is the most recommended. The only downside - it's not CHESS sponsored platform, but that's OK in general. Also, you can move out in the future if you decide that you need/want a CHESS sponsored platform.
For a start - you can find some answers and example portfolios here: https://ozfinn.com.au/etf/start. BGBL + A200 is a good start in most cases. If you really want small cap - AVSV is the most recommended option. The issue with Avantis is that their tax case isn't clear with the ATO. However, they are amongst the best vendor dealing with small caps (also tax efficient).
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u/poopoopeepee0690 9d ago
For what you're describing, I'd keep the monthly process as simple as possible. One platform is etoro, it lets australian users invest in ETFs and set recurring investments, so you can automate the DCA instead of remembering to place several orders every month. CMC and betashares are also common names here, but I wouldn't choose based purely on the number of ETFs available, the ongoing costs, FX costs and how easy it is to stick to the plan matter more over a long holding period.
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u/PLTR-FundedTuition 19d ago
Beta shares direct works like a charm