To help you get to know Stockspot, we’ve listed the top FAQs we get from clients who start investing with us.
- Can I top-up my portfolio?
- Will I receive distributions?
- Are distributions reinvested?
- How can I withdraw funds?
- What is Stockspot Savings?
- Can I have multiple accounts (or portfolios)
- How do I open an account for my kids?
- Can I change investment strategies
- Is my money safe?
- What happens at tax time?
- How can I contact Stockspot?
1. Can I top-up my portfolio?
You can top-up your portfolio anytime by setting-up a regular transfer from your external bank account to your Stockspot cash account.
You can find your cash account details in the ‘Transfer Money > Deposit Money’ section of your dashboard.
Funds are automatically invested each time there’s $500 in your cash account (for portfolios less than $50,000) and $2,000 (for portfolios above $50,000).
2. Will I receive distributions?
Distributions from the majority of your investments are received quarterly and paid into your cash account each January, April, July and October.
You can track your upcoming distributions in the ‘Your investments’ section of your Stockspot dashboard.
3. Are distributions reinvested?
Distributions are reinvested together with top-up funds to help keep your portfolio balanced and growing.
If you require an income stream you can ‘Pause rebalancing’ in the ‘Your investments > Your Stockspot Portfolio’ section of your dashboard and withdraw distributions after they have been received.
4. How can I withdraw funds?
You can lodge a full or partial withdrawal request in the ‘Transfer Money > Withdraw Funds’ section of your dashboard.
It takes up to five business days for the funds to arrive in your linked bank account. We don’t charge any fees for withdrawals.
5. What is Stockspot Savings?
Stockspot Savings is an alternative investment option suitable for shorter term investing goals. Your money is invested into a High Interest Cash ETF.
The cash ETF pays income into your cash account each month. View the current interest annual rate in the ‘Your investments > Your Stockspot Savings’ section of your dashboard.
The investment minimum is $2,000. Once you invest in Savings you can transfer funds between Stockspot Savings and your Portfolio. Download the product brochure.
6. Can I have multiple accounts (or portfolios)?
You can have multiple Stockspot accounts. To create a new account, log in to your Stockspot dashboard, click the arrow next to your account name, and select ‘Add new account’ to start the new application. Each account will have its own cash account that you can deposit funds into for investing in the respective portfolio. You can view all of your Stockspot accounts using your single email and password login details.
7. How do I open an account for my kids?
To open a kids account, head to the Stockspot homepage and start a new application. Make sure to select the ‘Kids’ account type. You can also open a kids account on behalf of a trust.
To open multiple accounts for kids, simply apply for your first kids account and once opened you can apply for additional accounts directly from your Stockspot dashboard.
8. Can I change investment strategies?
You can change your strategy in the ‘Your investments > Your Stockspot Portfolio’ section of your dashboard.
We recommend reviewing your strategy if there has been a significant change in your circumstances such as your investment time horizon or capacity to take risk.
We also complete an annual review process at the end of each financial year to ensure your investment strategy remains suitable for your circumstances.
9. Is my money safe?
You are the legal and beneficial owner of your investments. In the unlikely event something happens to Stockspot, you have the option to transfer your holdings to another provider.
You can read more about how Stockspot keeps your money safe.
10. What happens at tax time?
Your Annual Investor Statement is available by August each year and uploaded to the ‘Documents‘ section of your Stockspot dashboard.
11. How can I contact Stockspot?
You can reach our local team by phone, email or live chat. Our Contact Us page has all the information you need.
Still have questions?
If you still have questions, don’t forget to visit our comprehensive list of FAQs.