Sharesies.com.au Review

Based on looking at the website, Sharesies.com.au positions itself as an online investment platform aiming to make share trading accessible. While the platform offers features like automated investing and a wide selection of shares and ETFs, the core nature of traditional share trading, as presented, involves elements that could be problematic from an Islamic finance perspective, particularly concerning potential dealings in impermissible industries or interest-bearing instruments. The absence of explicit disclosure regarding Sharia compliance or ethical screening of underlying assets raises significant concerns for a Muslim investor.

Here’s an overall review summary:

• Website Transparency: Good, with clear information about features and awards.
• Ease of Use Claimed: Appears user-friendly with automation tools.
• Investment Scope: Broad access to US, Australian, and NZ share markets, and over 10,000 companies and ETFs.
• Ethical Compliance (Islamic Finance): Not addressed; potential for investing in impermissible assets or interest-based instruments.
• Pricing Clarity: A dedicated pricing page is available.
• Security Information: General claims of industry-standard security measures.
• Regulatory Compliance: Implied through operations in Australia, but specific licenses aren’t immediately highlighted on the homepage.
• Suitability for Muslim Investors: Highly questionable due to the lack of Sharia-compliant screening or investment options.

Sharesies.com.au appears to be a legitimate platform for conventional share trading, evidenced by its awards and user base. However, for a Muslim investor, the critical missing piece is the assurance of Sharia compliance. Traditional stock markets, especially those offering broad access to thousands of companies and ETFs, often include industries that are considered impermissible (e.g., alcohol, gambling, conventional finance, entertainment with haram content) or involve transactions that are not Sharia-compliant (e.g., interest-bearing activities). Without a robust, transparent, and explicit Sharia screening process for every investment option, participating through such a platform carries a significant risk of engaging in non-halal investments. It’s crucial for Muslim investors to seek platforms that specifically cater to Islamic finance principles, ensuring ethical and permissible investment avenues.

Here are some better alternatives for ethical and permissible investments:

• Hejaz Financial Services: Offers a range of Sharia-compliant financial products, including ethical superannuation and investment funds specifically designed to adhere to Islamic principles.
• Crescent Wealth: A leading provider of Islamic superannuation and investment solutions in Australia, focusing on ethical and responsible investments free from interest, gambling, alcohol, and other impermissible sectors.
• Islamic Bank Australia: While primarily a banking institution, they are developing Sharia-compliant financial products, including potential investment opportunities that align with Islamic ethical guidelines.
• Wahed Invest: A global robo-advisor offering Sharia-compliant investment portfolios, ensuring all investments are screened by an independent Sharia Supervisory Board. (Availability in Australia should be confirmed).
• Unit Trusts/Managed Funds with Ethical Screens: Look for managed funds or unit trusts explicitly stating ethical or responsible investment policies that align with Islamic finance principles, even if not branded “Islamic.” You’ll need to scrutinise their screening criteria rigorously.
• Direct Investment in Halal Businesses: For those with sufficient capital and expertise, direct investment in privately-owned, Sharia-compliant businesses (e.g., tech start-ups, ethical manufacturing, sustainable agriculture) can be a rewarding halal option.
• Gold and Silver Bullion: Investing in physical gold and silver, held directly or through Sharia-compliant custodial services, is generally considered permissible as a store of value and hedge against inflation, provided transactions adhere to specific Islamic rulings on precious metals.

Find detailed reviews on Trustpilot, Reddit, and BBB.org, for software products you can also check Producthunt.

IMPORTANT: We have not personally tested this company’s services. This review is based solely on information provided by the company on their website. For independent, verified user experiences, please refer to trusted sources such as Trustpilot, Reddit, and BBB.org.

Sharesies.com.au Review and First Look

Based on a thorough review of its homepage, Sharesies.com.au presents itself as a straightforward and accessible online investment platform designed to democratise share trading for Australians. The initial impression is one of user-friendliness, with clear calls to action and emphasis on ease of entry (“INVEST WITH NO MINIMUM”). They highlight their broad reach, allowing investments across the US, Australian, and NZ share markets, and a significant selection of over 10,000 companies and Exchange Traded Funds (ETFs). This wide variety, while appealing to a general investor, immediately flags a critical consideration for those adhering to Islamic finance principles: the lack of explicit Sharia compliance. The platform’s pitch is centred on convenience, automation, and accessibility, winning awards like Canstar’s 2024 Most Satisfied Customers Award for Online Share Trading and Finder’s Best for Beginners Share Trading Platform award. While these accolades speak to their market position and user experience, they don’t address the fundamental ethical screening required by Islamic law. For a Muslim investor, the primary concern isn’t merely the platform’s functionality or cost, but whether the underlying investments themselves are permissible. Without clear information on Sharia-compliant screening, investing through Sharesies.com.au carries a significant risk of participating in impermissible activities or industries, making it unsuitable for a Sharia-conscious portfolio. The absence of any mention of ethical or Sharia-compliant filters on their homepage is a significant red flag for this specific demographic.

Initial Impressions for Muslim Investors

From an Islamic perspective, the initial impression of Sharesies.com.au is one of a conventional investment platform that, despite its user-friendly interface and award-winning status, lacks the necessary safeguards for Sharia-compliant investing. The open access to 10,000+ companies and ETFs means a high probability of exposure to interest-based financial institutions, gambling, alcohol, tobacco, conventional entertainment, and other industries deemed impermissible in Islam. The website does not indicate any mechanism for filtering out non-compliant investments, which is a fundamental requirement for a Muslim investor.

The Problem with Broad Market Access

The claim of offering “over 10,000 companies and exchange-traded funds (ETFs)” is a double-edged sword for Muslim investors. While it offers diversification, it also means a vast majority of these listed entities are likely to fail Sharia screening criteria. For instance, traditional financial institutions, which constitute a significant portion of global markets, derive substantial income from interest (riba), which is strictly forbidden in Islam. Similarly, companies involved in the production or sale of alcohol, pork, gambling, or conventional entertainment (like music and movies that promote immoral behaviour) would be impermissible to invest in. Without an explicit, independently verified Sharia screening process, each investment would require painstaking individual research by the investor, which defeats the purpose of an accessible platform like Sharesies.com.au.

Sharesies.com.au Cons for Ethical Investors

When assessing Sharesies.com.au through the lens of Islamic finance, several significant drawbacks become apparent. The platform, while well-regarded in the mainstream investment sphere, falls short in critical areas for Sharia-conscious individuals. These cons are not necessarily faults of the platform itself in its intended market, but rather fundamental mismatches with Islamic investment principles.

Lack of Sharia Compliance Screening

This is arguably the most critical con for Muslim investors. Sharesies.com.au makes no mention of Sharia compliance, ethical screening, or filters to exclude impermissible investments. In traditional stock markets, a significant portion of companies operate in industries forbidden in Islam, such as alcohol, tobacco, gambling, conventional banking (interest-based), and certain entertainment sectors. Without a built-in mechanism to screen out these companies, or at minimum, explicit guidance on how to identify and avoid them, Muslim investors are left vulnerable to inadvertently investing in haram (forbidden) ventures. This necessitates exhaustive individual research for every single stock or ETF, which is impractical for most users and defeats the platform’s ease-of-use promise.

Exposure to Interest-Based Instruments (Riba)

A substantial number of companies listed on global exchanges, particularly those in the financial sector, derive significant income from interest (riba). Riba is explicitly forbidden in Islam, and investing in companies that heavily rely on interest is considered impermissible. Sharesies.com.au offers ETFs and shares from major markets, including the US, Australia, and NZ. Many ETFs, especially broad-market or sector-specific ones, will inevitably include companies deeply involved in interest-based transactions. Furthermore, the very structure of some financial instruments might inherently involve riba. Without clear Sharia-compliant alternatives or strict screening, investors are likely to be exposed to riba, which is a major ethical concern.

Potential for Investment in Prohibited Industries

The platform grants access to over 10,000 companies and ETFs. This vast selection virtually guarantees exposure to industries and businesses that are considered impermissible (haram) according to Islamic principles. These include:

• Alcohol and Tobacco: Companies involved in the production, distribution, or sale of alcoholic beverages or tobacco products.
• Gambling: Businesses operating casinos, lotteries, or online betting platforms.
• Pork and Non-Halal Meat: Companies whose primary business involves the production or processing of pork or other non-halal meat products.
• Conventional Banking and Insurance: Institutions that operate on interest-based lending/borrowing or conventional insurance models.
• Entertainment and Media: Companies involved in producing or distributing content that promotes immoral behaviour, indecency, or blasphemy.
• Weapons Manufacturing: Companies primarily involved in the production of weapons that could be used for aggression or oppression.

Without specific filters or Sharia advisory, investors are forced to manually research each company, a tedious and error-prone process.

Lack of Transparency on Underlying Asset Compliance

For ETFs, the issue of Sharia compliance becomes even more complex. An ETF is a basket of underlying assets, and while the ETF itself might seem neutral, the composition of its holdings can be highly problematic. Sharesies.com.au does not appear to provide easy access to detailed, Sharia-screened breakdowns of ETF holdings. This lack of transparency means investors might unknowingly hold shares in hundreds of impermissible companies through a single ETF. This ‘blind’ investment goes against the principle of conscious and responsible investing in Islam.

No Halal-Specific Portfolio Options

Unlike dedicated Islamic investment platforms, Sharesies.com.au does not offer pre-built Sharia-compliant portfolios or guidance for constructing one. This absence forces the investor to become their own Sharia compliance officer, which requires a deep understanding of Islamic finance principles and the ability to meticulously research individual stocks and ETFs. For a beginner or even an intermediate investor, this can be an overwhelming and often unfeasible task, increasing the likelihood of making non-compliant investments. Clentons.com.au Review

Conventional Debt and Leverage

While not explicitly highlighted on the Sharesies.com.au homepage, many conventional investment platforms allow or facilitate trading on margin or using other forms of debt, which often involve interest. While the homepage doesn’t promote this, the general nature of such a platform might imply its availability or future integration. Islamic finance strictly prohibits interest-bearing debt, and any platform that encourages or necessitates such instruments for investment would be problematic.

Sharesies.com.au Alternatives

Given the significant concerns regarding Sharia compliance with Sharesies.com.au, it’s crucial for Muslim investors to explore alternatives that explicitly adhere to Islamic principles. These alternatives focus on ethical investment, avoiding interest, prohibited industries, and excessive uncertainty.

• Hejaz Financial Services

  • Key Features: Offers Sharia-compliant superannuation, home finance, and investment funds. Investments are independently certified to ensure adherence to Islamic principles. Focuses on ethical and responsible investments, avoiding industries like alcohol, gambling, and conventional banking.
  • Price: Varies depending on the product (superannuation fees, fund management fees). Transparent fee structures.
  • Pros: Fully Sharia-compliant across all offerings, established Australian presence, independent Sharia advisory board, promotes ethical investing.
  • Cons: Limited product range compared to conventional finance, may have higher fees than some mainstream options due to specialised screening.

• Crescent Wealth

  • Key Features: Australia’s first dedicated Islamic superannuation fund, also offers investment products. Investments are rigorously screened to ensure they are free from interest, gambling, alcohol, tobacco, weapons, and pork.
  • Price: Fee structure for superannuation and investment funds available on their website.
  • Pros: Strong track record in the Australian market, robust Sharia compliance framework, ethical investment focus beyond just Islamic principles, transparent reporting.
  • Cons: Primarily focused on superannuation, investment options might be less diverse than conventional platforms.

• Islamic Bank Australia

  • Key Features: Australia’s first licensed Islamic bank. While primarily a banking institution, it aims to offer a full suite of Sharia-compliant financial products, which will likely include investment opportunities as they expand. Focus on ethical and responsible financial practices.
  • Price: Pricing details for future investment products will be announced upon launch.
  • Pros: A foundational institution for Islamic finance in Australia, commitment to Sharia compliance, potential for diverse ethical financial services.
  • Cons: Still relatively new in the market, investment products are in development or nascent stages, not a direct share trading platform.

• Wahed Invest

  • Key Features: A global ethical robo-advisor platform offering diversified Sharia-compliant investment portfolios. All investments are screened by an independent Sharia Supervisory Board. Automatically rebalances portfolios.
  • Price: Management fees are typically a small percentage of assets under management (e.g., 0.49% to 0.99% annually).
  • Pros: Fully Sharia-compliant, globally accessible (check Australian availability), diversified portfolios, automated investing, low minimums.
  • Cons: Not an Australian-specific entity (though may operate here), investment options are pre-selected portfolios rather than individual stock picking.

• Direct Investment in Halal Businesses

  

  • Key Features: Investing directly into private businesses that operate ethically and comply with Sharia principles. This could be a local startup, a small business, or a joint venture. Requires thorough due diligence on the business model and operations.
  • Price: Highly variable, depends on the business and investment terms.
  • Pros: Full control over the ethical nature of the investment, potential for high returns, direct impact on the halal economy, avoids conventional financial instruments.
  • Cons: High risk, requires significant capital and business acumen, illiquid (hard to sell quickly), difficult to find suitable opportunities.

• Gold and Silver Bullion

  • Key Features: Investing in physical gold and silver bars or coins. Often considered a safe haven asset and a hedge against inflation. Transactions must adhere to specific Islamic rulings (e.g., immediate possession).
  • Price: Market price of gold/silver plus premiums for physical product.
  • Pros: Permissible in Islam as a store of value, tangible asset, can provide stability to a portfolio.
  • Cons: Does not generate income (dividends or rent), storage costs, security risks with physical possession, price volatility.

• Real Estate Investment Trusts (REITs) with Ethical Screening Moveyoga.com.au Review

  • Key Features: Investing in a company that owns, operates, or finances income-producing real estate. For Sharia compliance, the underlying properties must be used for permissible activities (e.g., residential, ethical commercial spaces, not hotels serving alcohol or gambling venues).
  • Price: Varies depending on the REIT’s share price.
  • Pros: Diversification, potential for regular income (rent), exposure to real estate market.
  • Cons: Requires careful screening of the REIT’s portfolio to ensure Sharia compliance, not all REITs are permissible, often include conventional debt.

How to Cancel Sharesies.com.au Subscription (If Applicable)

While Sharesies.com.au is primarily an investment platform with transaction fees rather than a traditional subscription service, they do offer “Plans” which cover transaction fees. This functions somewhat like a subscription. If you’ve opted for one of these plans and wish to cancel it, or if you’re looking to close your account entirely, the process would typically involve accessing your account settings. Based on common practices for online platforms and financial services, here’s how you’d generally approach it.

Cancelling a Sharesies.com.au Pricing Plan

Sharesies.com.au mentions “Plans” that can be paid monthly or annually to cover transaction fees. If you’ve signed up for one of these, cancelling it means reverting to a “pay as you go” model for your transactions, which would likely incur per-transaction fees. The website states: “To set up, go to Account > Pricing plans.” It’s highly probable that this is also where you would manage or cancel your plan.

1. Log In: Access your Sharesies.com.au account using your credentials.
2. Navigate to Account Settings: Look for a section like “Account,” “Profile,” or “Settings,” usually found in a drop-down menu under your name or in a sidebar.
3. Find ‘Pricing Plans’: Within your account settings, locate the “Pricing plans” section, as directly mentioned on their homepage.
4. Manage or Cancel Plan: There should be an option to view your current plan, change it, or cancel it. Follow the on-screen prompts. You might be asked to confirm your decision.

Remember, cancelling a pricing plan might mean you’ll start paying transaction fees per trade, so be sure to review their pricing structure if you plan to continue investing without a plan.

Closing Your Sharesies.com.au Account

If you wish to stop using Sharesies.com.au entirely, you’ll need to close your account. This process usually involves selling off any investments, withdrawing your funds, and then formally requesting account closure.

1. Sell All Investments: Liquidate any shares or ETFs you hold on the platform. This means selling them and waiting for the trades to settle.
2. Withdraw Funds: Once your funds have settled and are available in your Sharesies Wallet, initiate a withdrawal to your linked Australian bank account. Ensure all funds are withdrawn.
3. Contact Support or Find Account Closure Option:
   • Check your account settings again for a “Close Account” or “Deactivate Account” option. Some platforms have this readily available.
   • If not, you will likely need to contact Sharesies.com.au customer support directly. Look for their “Help,” “Contact Us,” or “Support” section on the website.
   • Clearly state your intention to close your account. They may require verification steps to ensure it’s you.
4. Confirm Closure: Ensure you receive confirmation that your account has been successfully closed. Keep any documentation for your records.

It’s always a good idea to check Sharesies.com.au’s official support documentation or FAQ section for the most up-to-date and specific instructions on cancelling plans or closing accounts, as policies can change.

Sharesies.com.au Pricing

Sharesies.com.au explicitly offers a “Check out pricing” link on its homepage, which is a positive sign for transparency. This suggests they have a dedicated page detailing their fee structure, which is crucial for investors to understand the true cost of using the platform. While the homepage doesn’t list exact figures, it highlights two main approaches: “pay as you go” and “get your transaction fees covered with a plan.” This implies a tiered pricing model, common among investment platforms, designed to cater to different investor frequencies and volumes.

Pay-As-You-Go Transaction Fees

For investors who prefer not to commit to a recurring plan, Sharesies.com.au will likely charge a fee per transaction. This fee typically applies to buying and selling shares or ETFs. Common structures include:

• Flat Fee per Trade: A fixed dollar amount charged for each buy or sell order, regardless of the trade size. This is often appealing for smaller, infrequent trades.
• Percentage-Based Fee: A small percentage of the total transaction value. This can be more cost-effective for very small trades but can become substantial for large trades.
• Tiered Fees: A combination, where fees might reduce after a certain trade volume or value.

It’s essential for potential investors to visit the “Check out pricing” page to understand the specific rates for different markets (US, Australia, NZ) and asset types. For instance, some platforms might charge different fees for Australian shares versus US shares due to currency conversion and international execution costs.

Pricing Plans for Covered Transaction Fees

Sharesies.com.au promotes “Plans” that offer to cover transaction fees, which suggests a subscription-like model. These plans are likely designed for more active or consistent investors who would otherwise accrue significant transaction fees under the “pay as you go” model.

• Monthly or Annual Subscription: The homepage mentions paying “annually for pricing plans” or “monthly.” This indicates a recurring charge that provides access to certain benefits, primarily reduced or zero transaction fees for a defined number of trades or unlimited trades within a period.
• Tiered Plans: It’s common for platforms to offer multiple plan tiers, each with different benefits and price points. For example:
  • A basic plan might cover a limited number of trades per month.
  • A premium plan might offer unlimited trades and additional features.
  • Plans might also differentiate based on the markets accessible or the types of investments covered.

The benefit of such plans is predictability of costs, especially for those who invest regularly. However, if an investor doesn’t trade frequently enough, a plan might end up being more expensive than paying per transaction. Qjj.com.au Review

Additional Potential Fees to Consider

Beyond transaction and plan fees, investors should also be aware of other potential charges that might apply to any investment platform, though Sharesies.com.au doesn’t explicitly mention them on its homepage:

• Currency Exchange Fees: When investing in US or NZ markets, funds need to be converted from AUD. Platforms often charge a margin on the exchange rate or a specific conversion fee.
• Withdrawal Fees: Some platforms charge a fee for withdrawing funds back to a bank account.
• Inactivity Fees: Less common now, but some platforms might charge if an account remains dormant for an extended period.
• Data Fees: For advanced market data or research tools, some platforms might charge extra.
• Brokerage Fees for Managed Portfolios: If Sharesies.com.au were to offer managed portfolios (which it doesn’t explicitly state for individual investing on the homepage), these would come with their own management fees.

Understanding the full fee structure is crucial for making an informed decision, especially when comparing Sharesies.com.au with other ethical alternatives where fee transparency is paramount.

Sharesies.com.au vs. Halal Investment Platforms

When comparing Sharesies.com.au to dedicated halal investment platforms, the primary differentiator is their fundamental approach to ethical compliance. Sharesies.com.au is a mainstream platform focused on accessibility and a wide range of conventional investment options. Halal investment platforms, conversely, are built from the ground up with Sharia principles as their core operating framework, ensuring all investments and operations are permissible in Islam.

Investment Scope and Screening

• Sharesies.com.au: Offers access to “over 10,000 companies and exchange-traded funds (ETFs)” across US, Australian, and NZ markets. There is no explicit Sharia screening mechanism mentioned or provided. This means that a vast majority of the available investments will likely include companies involved in interest-based finance, alcohol, gambling, conventional entertainment, pork, and other impermissible industries. The burden of screening falls entirely on the individual investor, which is impractical and high-risk.
• Halal Investment Platforms (e.g., Hejaz Financial Services, Crescent Wealth, Wahed Invest): These platforms rigorously screen every investment to ensure it adheres to strict Sharia guidelines. This involves:
  • Activity Screening: Excluding companies involved in forbidden industries (alcohol, gambling, conventional banking/insurance, pornography, weapons manufacturing for illicit use).
  • Financial Screening: Ensuring the company’s financial ratios (e.g., debt to equity, interest-bearing income, liquid assets) comply with Sharia thresholds to avoid excessive reliance on interest or impermissible income.
  • Independent Sharia Supervisory Board: Many halal platforms employ independent scholars who review and certify their offerings, providing an additional layer of assurance.
  • Investment Scope: The available investments are typically more limited than conventional platforms, focusing on Sharia-compliant equities, sukuk (Islamic bonds), and ethically screened real estate or commodities.

Transparency and Trust for Muslim Investors

• Sharesies.com.au: Transparent about its general market access and awards, but lacks transparency regarding the ethical nature of its underlying assets from an Islamic perspective. While it boasts “security” and investor trust in terms of data and money protection, this doesn’t extend to the spiritual and ethical integrity of the investments.
• Halal Investment Platforms: Provide explicit transparency on their Sharia compliance methodology. They detail the screening criteria, often publish audit reports, and highlight their Sharia Supervisory Board. This builds trust within the Muslim community, assuring investors that their portfolios align with their faith. They are inherently designed to address the ethical concerns of Muslim investors first and foremost.

Automated Features vs. Ethical Automation

• Sharesies.com.au: Emphasises “automated features” like auto-invest and round-ups for convenience. These features are designed to make investing easy and habitual.
• Halal Investment Platforms: While some halal platforms (like Wahed Invest) also offer automated investing through robo-advisory models, their automation is always built upon a foundation of Sharia-compliant screening. The automation only applies to a universe of permissible investments, ensuring convenience does not compromise ethical integrity. For platforms like Hejaz or Crescent Wealth, their managed funds inherently automate the ethical screening process for the investor.

Pricing and Fees

• Sharesies.com.au: Utilises a “pay as you go” or “plan” based fee structure for transactions, which is standard for conventional brokers.
• Halal Investment Platforms: Fees might vary. Some may have slightly higher management fees due to the specialised nature of Sharia screening and compliance oversight. However, for a Muslim investor, this premium is often seen as the cost of ensuring ethical integrity. It’s a trade-off between potentially lower fees on a non-compliant platform and guaranteed Sharia adherence.

In essence, Sharesies.com.au is built for a broad market audience seeking ease of entry into conventional stock trading. Halal investment platforms, however, are niche providers whose core value proposition is enabling Muslims to invest in a manner that is both financially sound and spiritually permissible. For a Muslim investor, the choice isn’t just about features or cost, but fundamentally about adherence to faith principles, making dedicated halal platforms the only viable and responsible option.

Sharesies.com.au Features

Sharesies.com.au presents a suite of features designed to make investing accessible and straightforward for Australian users, especially those new to the market. The homepage highlights several key functionalities that aim to simplify the investment journey.

No Minimum Investment Threshold

One of the standout features Sharesies.com.au proudly advertises is “INVEST WITH NO MINIMUM.” This is a significant advantage for beginners or those with limited capital, as it removes a common barrier to entry in traditional share trading. Many brokers have minimum deposit requirements or charge higher fees for small trades. By eliminating the minimum, Sharesies.com.au truly opens up the market to a wider demographic, allowing individuals to start with as little as a few dollars. This aligns with their mission to make investing accessible, but again, without Sharia screening, it merely makes it easier to potentially invest in impermissible assets.

Access to Multiple Markets

The platform provides access to “US, Australian, and NZ share markets.” This broad market access allows investors to diversify their portfolios geographically and tap into different economic opportunities.

• Australian Securities Exchange (ASX): Access to local companies.
• New Zealand Stock Exchange (NZX): Leveraging their New Zealand roots, Sharesies offers seamless access to the NZ market.
• US Markets: Access to a vast array of global companies listed on major US exchanges (e.g., NYSE, NASDAQ).

This multi-market access is a robust feature for general investors, but it simultaneously expands the universe of potentially non-Sharia-compliant companies and ETFs.

Extensive Investment Selection

Sharesies.com.au boasts offering a choice from “over 10,000 companies and exchange-traded funds (ETFs).” This vast selection means investors have a wide range of options, from individual company shares to diversified ETFs. ETFs, in particular, offer an easy way to gain exposure to sectors, industries, or broad market indices without buying individual stocks. However, as noted previously, the sheer volume of options without a filtering mechanism makes Sharia-compliant selection a monumental task.

Automated Investing Features

The platform heavily promotes automation to foster a “long-term investing habit.” These features are designed for convenience and consistency: Imagedirect.com.au Review

• Auto-invest: Allows users to set up recurring investments. You “just choose your investments, then set how much and how often to invest. Easy.” This helps in dollar-cost averaging and building wealth consistently over time without manual intervention.
• Round-ups: “Make every tap count.” This feature rounds up spare change from daily transactions and directs it towards investments. It’s a subtle yet effective way to accumulate small amounts into investments, leveraging micro-contributions.
• One-off Buy for Auto-invest: A recent update allowing users to “boost your auto-invest order with a one-off buy” whenever desired, offering flexibility.

These automated features are a significant convenience, simplifying regular contributions, but again, for Muslim investors, the underlying investments chosen for auto-invest must be rigorously screened for Sharia compliance manually.

Award-Winning Platform

Sharesies.com.au highlights several awards, reinforcing its credibility and user satisfaction in the mainstream market:

• Canstar’s 2024 Most Satisfied Customers Award for Online Share Trading.
• WeMoney’s Investing Platform of the Year!
• Finder’s Best for Beginners Share Trading Platform award.

These awards indicate a strong user experience and market acceptance, suggesting the platform is well-designed and meets the expectations of typical investors.

Security and Trust

The website addresses security, stating: “Your shares are safe, and belong to you.” It claims the platform “was designed with security as a top priority” and that “investments, money, and data are protected by layers of industry-standard security measures.” They also mention having “over 800,000 investors” who have invested “over $2.8 billion” since 2017, aiming to build trust through their growing user base and managed assets. While reassuring for general security, this does not extend to the ethical permissibility of investments.

Pricing Plans (Casual or Regular)

Sharesies.com.au offers flexible pricing plans: “Invest when the timing is right with pay as you go, or get your transaction fees covered with a plan.” This allows users to choose a fee structure that best suits their investing frequency.

AI Search Tool

A newer feature, “AI Search,” allows users to “Discover investments and gain industry insights with our AI-powered search tool.” This indicates a commitment to leveraging technology to enhance the user’s research capabilities, making it easier to find investments based on natural language queries. For a Muslim investor, this could be a helpful tool if used to research the primary business activities of companies, although it wouldn’t replace a dedicated Sharia screening mechanism.

Overall, Sharesies.com.au packs a lot of features aimed at making investing effortless and accessible. However, the glaring omission for Muslim investors is the absence of any consideration for Sharia compliance in its wide array of investment options and automated tools.

Sharesies.com.au Security

Sharesies.com.au places emphasis on the security of its platform and the protection of its users’ assets and data. Their homepage explicitly states, “Your shares are safe, and belong to you,” and that the “investment platform was designed with security as a top priority.” They claim “investments, money, and data are protected by layers of industry-standard security measures, whether you’re using our app or website.” This commitment to security is a fundamental expectation for any online financial service, and Sharesies.com.au appears to address it through various means.

Industry-Standard Security Measures

When a platform states it uses “industry-standard security measures,” it typically implies a range of technological and procedural safeguards. While the homepage doesn’t list every single measure, common practices in reputable financial platforms include:

• Encryption: Using Secure Socket Layer (SSL)/Transport Layer Security (TLS) encryption to protect data transmitted between the user’s device and the Sharesies servers. This ensures that sensitive information like login credentials and financial details are encrypted and cannot be intercepted easily.
• Two-Factor Authentication (2FA): Often implemented for logging in or for sensitive transactions, 2FA adds an extra layer of security by requiring a second form of verification (e.g., a code sent to your phone) in addition to your password. This significantly reduces the risk of unauthorised access, even if your password is compromised.
• Firewalls and Intrusion Detection Systems: Robust network security infrastructure to prevent unauthorised access to their systems and to detect and respond to suspicious activity.
• Regular Security Audits and Penetration Testing: Reputable platforms routinely engage third-party security experts to test their systems for vulnerabilities and ensure they are resilient against cyber threats.
• Data Protection and Privacy: Adherence to Australian privacy laws (like the Privacy Act 1988) regarding the collection, storage, and use of personal data. This includes having strict internal policies and employee training on data handling.

Custody of Investments and Client Money

The statement “Your shares are safe, and belong to you” hints at how client assets are held. In Australia, regulated financial service providers are typically required to hold client funds and investments in segregated client accounts, separate from the company’s own operational funds. This is a crucial protective measure, ensuring that if the brokerage were to face financial difficulties, client assets are protected and not subject to the company’s creditors. Skinnymetea.com.au Review

• Trust Accounts: Client money is usually held in segregated trust accounts with regulated banks.
• Custodial Services: Investments (shares) are often held by a third-party custodian, legally separated from the broker. This means the client remains the beneficial owner of the shares, even if the broker goes out of business. This arrangement provides a layer of protection against the insolvency of the brokerage.

While Sharesies.com.au provides a “Learn more” link regarding security, clicking it leads to an Intercom help article titled “Security and internet safety” which reiterates the commitment to security but doesn’t delve into granular details about specific protocols beyond stating the use of “enterprise-grade security measures” and “firewalls, encryption, and regular external security audits.” It also mentions “data encryption, two-factor authentication, and regular security updates.”

Regulatory Compliance and Oversight

For a financial platform operating in Australia, regulatory compliance is a cornerstone of security and trust. Sharesies.com.au would be subject to regulation by the Australian Securities and Investments Commission (ASIC), which sets standards for financial services providers to protect consumers. This oversight adds a layer of confidence regarding the platform’s operational integrity and adherence to financial regulations.

While Sharesies.com.au appears to implement standard security practices for online platforms, the critical distinction for Muslim investors remains: “security” in this context refers to the safety of funds and data, not the ethical permissibility of the investments themselves. The platform’s security features ensure that your money and information are handled with care, but they do not provide a filter for Sharia-compliant assets, which is a different, equally vital, form of “security” for an ethical investor.

Frequently Asked Questions

What is Sharesies.com.au?

Sharesies.com.au is an online investment platform based in Australia that allows individuals to invest in shares and exchange-traded funds (ETFs) across the US, Australian, and NZ share markets with no minimum investment.

Is Sharesies.com.au legitimate?

Yes, Sharesies.com.au appears legitimate. It highlights awards like Canstar’s 2024 Most Satisfied Customers Award for Online Share Trading and WeMoney’s Investing Platform of the Year, and reports having over 800,000 investors and managing over $2.8 billion since 2017.

Does Sharesies.com.au offer Sharia-compliant investments?

Based on the website’s homepage, Sharesies.com.au does not explicitly mention or offer Sharia-compliant investment options or screening mechanisms. This means investors would need to manually vet each investment for adherence to Islamic principles.

How many companies and ETFs can I invest in on Sharesies.com.au?

Sharesies.com.au states that users can pick from over 10,000 companies and exchange-traded funds (ETFs) on their investment platform.

What markets can I access through Sharesies.com.au?

You can build your investment portfolio across the US, Australian, and NZ share markets using Sharesies.com.au.

Is there a minimum investment amount on Sharesies.com.au?

No, Sharesies.com.au advertises “INVEST WITH NO MINIMUM,” making it accessible for investors to start with any amount.

How do Sharesies.com.au’s automated features work?

Sharesies.com.au offers automated features like “Auto-invest,” where you choose investments, set amounts and frequency, and “Round-ups,” which round up spare change from daily spending for investment. Chubbhomesecurity.com.au Review

What awards has Sharesies.com.au won?

Sharesies.com.au has won Canstar’s 2024 Most Satisfied Customers Award for Online Share Trading, WeMoney’s Investing Platform of the Year, and Finder’s Best for Beginners Share Trading Platform award.

How does Sharesies.com.au ensure security?

Sharesies.com.au claims its platform is designed with security as a top priority, protecting investments, money, and data with layers of industry-standard security measures whether using the app or website. This generally implies encryption, 2FA, and regulatory compliance.

Can I pay annually for pricing plans on Sharesies.com.au?

Yes, Sharesies.com.au announced in January 2024 that users can now pay annually for pricing plans, offering potential savings compared to monthly payments.

Can I use a credit or debit card to pay for a Sharesies.com.au pricing plan?

Yes, as of January 2024, Sharesies.com.au allows users to pay for a pricing plan using a credit or debit card, in addition to using their Wallet.

What is the “One-off buy” feature on Sharesies.com.au?

The “One-off buy” feature, introduced in October 2024, allows users to boost their auto-invest orders with a single additional purchase whenever they like.

What is the “AI Search” tool on Sharesies.com.au?

The “AI Search” tool, launched in June 2024, is an AI-powered search feature that helps users discover investments and gain industry insights by searching in their own words.

What are the requirements to start investing with Sharesies.com.au in Australia?

To start investing, you need to be 18 or over, have a valid ID and residential address (e.g., Australian passport or driver licence), and an Australian bank account for transactions.

How can I check Sharesies.com.au’s pricing details?

Sharesies.com.au provides a “Check out pricing” link on its homepage, which leads to a dedicated page detailing their fee structure for “pay as you go” and “plan” options.

What are the main cons of Sharesies.com.au for Muslim investors?

The main cons for Muslim investors include the lack of Sharia compliance screening for investments, potential exposure to interest (riba) and prohibited industries (e.g., alcohol, gambling, conventional finance), and no dedicated halal investment options.

What are some ethical alternatives to Sharesies.com.au for Muslim investors?

Ethical alternatives include Hejaz Financial Services, Crescent Wealth, Islamic Bank Australia, Wahed Invest (if available), direct investment in halal businesses, and physical gold/silver bullion. Barcodeuniverse.com.au Review

How do I cancel a Sharesies.com.au pricing plan?

To cancel a pricing plan, you typically need to log into your Sharesies.com.au account, navigate to “Account” then “Pricing plans,” and follow the prompts to manage or cancel your current plan.

How do I close my Sharesies.com.au account?

To close your account, you generally need to sell all your investments, withdraw all funds to your bank account, and then contact Sharesies.com.au customer support or find an account closure option within your settings to formally request deactivation.

Does Sharesies.com.au offer advice on which shares are Sharia-compliant?

No, Sharesies.com.au does not offer specific advice or tools to identify Sharia-compliant shares. Investors are responsible for their own ethical screening if they adhere to Islamic finance principles.