- Why is Stockspot changing its broker?
- Do I need to take any action due to this change?
- Will my Stockspot account function differently after the migration?
- What is my HIN and what does it mean?
- Will my HIN change due to the change in broker?
- Will there be a pause on investing and withdrawals?
- What are the important dates I should be aware of?
- Will this impact my Stockspot fees?
- What if I want to close my Stockspot Account?
1. Why is Stockspot changing its broker?
Stockspot is transitioning to FNZ Securities, a leading provider of brokerage services in Australia. This move is part of our commitment to consistently offer our clients a streamlined and cost-effective investing experience, especially as we continue to grow.
You can read more in the Participant Change Notice and Novation Agreement here.
2. Do I need to take any action due to this change?
No, there is nothing you need to do. Stockspot and Openmarkets Australia will oversee the entire transition to FNZ Securities.
3. Will my Stockspot account function differently after the migration?
No, once the migration is complete, FNZ Securities will handle all brokerage services for your Stockspot account, which will continue to function as usual.
4. What is my HIN and what does it mean?
Your HIN is your Holder Identification Number (HIN). Your investments are owned under a unique, personal HIN which you can find in the “Your Profile” section of your Stockspot dashboard and the app. Direct ownership via a personal HIN means you are the legal and beneficial owner of your investments.
5. Will my HIN change due to the change in broker?
No, your HIN will stay the same.
6. Will there be a pause on investing and withdrawals?
Yes, there will be a pause on investments, withdrawals, and new account openings from 6 to 12 Nov.
7. What are the important dates I should be aware of?
- 1 Nov: Last day to deposit funds for investment before the migration.
- 2 Nov: Last day to request withdrawals for funds to be received by 10 Nov.
- 6 Nov – 12 Nov: Pause period. No investments or withdrawals.
- 10 Nov – 12 Nov: Accounts migrate from Openmarkets Australia to FNZ Securities.
- 13 Nov: Investing will resume as normal.
8. Will this impact my Stockspot fees?
No, there will be no changes to your Stockspot fees.
9. What if I want to close my Stockspot Account?
If you would like to close your account completely, simply email our team at operations@stockspot.com.au and request for your account to be closed. We’ll send you everything you need to complete the account closure process.
