Betashares Direct review

About Betashares Direct

Betashares is one of the leading ETF providers in Australia with over $37 billion in assets under management, and more than 1 million investors.

Betashares Direct is an investing platform designed to make ETF investing more accessible.

How does it work?

With a Betashares Direct account, you can trade any ASX ETFs and pay no brokerage fees.

You can deposit cash to your account using bank transfer and OSKO and then buy and sell ETFs using your cash balance.

There's a $10 minimum investment amount, but you can make fractional investments.

You can manage your account via the Betashares Direct app on iOS and Android or via the Betashares web app.

Betashares will earn interest on the cash balance in your Betashares Direct Cash Wallet, but there's no minimum balance you need to maintain.

What can I trade with Betashares Direct account?

Betashares Direct lets you invest in any ETF that is traded on the ASX, whether it's managed by Betashares or another ETF provider.

You can't trade individual stocks or access more advanced trading options.

What other features do we get with Betashares Direct?

AutoPilot portfolios allow you to automate your ETF investing using professionally-built ETF portfolios or your own custom portfolio.

You can also set up recurring buys using direct debit and access automatic portfolio rebalancing. You will be charged an ongoing fee that varies based on the value of your portfolio, as well as a standard management expense ratio (MER) fee.

Betashares Direct also supports SMSF (self-managed super funds) and trusts, as well as portfolio transfers for investors wanting to move their existing ETFs over to Betashares Direct.

Customer reviews of Betashares Direct

Betashares Direct has a good score from iOS users, with a rating of 4.1 out of 5, based on more than 60 reviews.

It also has a rating of 4.6 on the Google Play Store, based on more than 30 reviews.

These ratings were last reviewed on 15 August 2024.

Betashares Direct account fees

You'll pay zero brokerage fees when you buy or sell ETFs through Betashares Direct. There's also no other transaction or account fees.

Betashares AutoPilot account fees

You'll also pay no brokerage if you use Betashares' AutoPilot feature, but you will need to pay an ongoing fee based on the size of your portfolio, and be charged a regular MER fee.

If you have less than $10,000 invested, you'll need to pay a $3 monthly fee on pre-built portfolios or a $4 monthly fee on custom portfolios.

On accounts over $10,000 you'll be charged a 0.20% p.a. fee on pre-built portfolios or 0.25% p.a. on custom portfolios.

How to open an account with Betashares Direct

You can create an account via the Betashares Direct website or by downloading the Betashares Direct app on either iOS or Android.

You'll then need to provide your email and personal details, and verify your identity using either a current Australian drivers licence or passport. If you don't have either of these documents you may be able to verify your account using other documents.

Is Betashares Direct safe?

Betashares is one of the largest fund managers in Australia and has been in operation for 15 years.

Betashares is regulated by the Australian Securities and Investment Commission (ASIC).

It encrypts all personal data to help protect against data breaches, as well as an Australian-based customer support team.

Of course, like any investment, the value of your Betashares Direct portfolio can go up or down.