Is there a minimum amount to start buying ASX shares?
The Australian Securities Exchange (ASX) requires a minimum investment of A$500 (excluding brokerage) when purchasing shares in any ASX-listed security for the first time. This is known as the ‘Minimum Marketable Parcel’ (MMP) of shares. If you sell all your shares in a company and later decide to buy into it again, this buy order will again be subject to the MMP rule.The MMP applies to all CHESS-sponsored trades. If you have an account with another platform that does not require an initial A$500 minimum order for each security, they may be operating on a Custodial model, where all your shares are linked to the broker’s HIN.
Minimum order size after Minimum Marketable Parcel (MMP) Once the minimum marketable parcel is met you can place smaller order sizes to increase your position in that same security. The minimum value of subsequent buy orders is A$20, this is to ensure that orders always meet market integrity rules.Please note, this rule does not apply to sell orders.
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So to sum up, they are a broker playing games.
SRN Price at posting:
1.0¢ Sentiment: Hold Disclosure: Held
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