Summary: Macquarie Bank does not offer a share-investing feature on its platform. This is because the bank is yet to acquire the appropriate licensing to operate a stock exchange. Macquarie is yet to announce whether or not they will be adding this feature in the future.
In the mean time, you can buy stocks through a secure, licensed and regulated brokerage platform with the funds in your Macquarie Bank account. eToro is the best brokerage platform globally and offers services to Australian investors including the ability to buy stocks, ETFs and more.
Can I buy Shares with Macquarie Bank?
Unfortunately, Macquarie bank doesn’t allow the buying or selling of stocks directly on its banking platform. Not to worry, there are safe alternative ways to buying stocks with a Macquarie bank account. Simply transfer funds from your Macquarie Bank account to a broker and buy stocks on that platform.
We suggest using the eToro exchange, it offers investment opportunities in multiple asset classes including stocks, ETFs, indices, commodities, currencies and crypto. In addition to multiple asset classes, eToro also offers brokerage-free trading on stocks. Meaning you don’t need to pay fees when you purchase stocks. Additionally, eToro doesn’t charge fees for AUD deposits or withdrawals.
How to buy Shares with Macquarie Bank online
The best and most affordable way to purchase stocks in Australia with a Macquarie Bank account is by going through the eToro trading platform. On eToro you can fund your account with Macquarie Bank through multiple methods including credit/debit card, bank transfer, Skrill, Neteller, POLi & Skrill. Follow the steps below to get started.
- Sign up to eToro and complete the verification process.
- Click ‘Deposit Funds’ and transfer AUD from your Maquarie Bank account to eToro through one of the provided deposit methods.
- Search for the stock you want to purchase in the search bar and select ‘Trade’.
- Enter the amount you would like to invest in and tap ‘Set Order’.
What is Macquarie Bank?
Macquarie Bank is an Australian bank founded in 1969 by the late Kerry Packer and Alan Bond. It offers a range of banking and financial services, including deposits, loans, credit cards and investment products.
As of 2022, it is the second largest bank in Australia, in terms of market capitalisation and is now considered one of the ‘Big 4’ banks in Australia. Its popularity shot up in one financial year (21-22) bringing it up 4 places from the previous year.
Can I legally buy stocks in Australia?
Yes, it is completely legal to invest in stocks in Australia. However, it is important to ensure you are using a safe platform to purchase stocks as not every exchange is properly licensed to operate in Australia.
In Australia, all stock investing and trading platforms must be regulated by the Australian Securities and Investments Commission and hold a Australian Financial Services Licence. eToro (“eToro Australia” ABN 66 612 791 803) is a holder of AFSL (#491139) and is regulated bu ASIC. You can visit eToro’s Australian regulation page for more details about licensing.