Key Takeaways: The Bank of Queensland or BOQ offers a share investing feature through its online bank. Although, we recommend avoiding this to invest in stocks as it has considerably higher fees than most brokers. Furthermore, it has a small selection of shares to invest in and the UI is quite confusing to navigate.
The best way to buy stocks with a BOQ account is by going through an external brokerage platform. The most secure and affordable broker in Australia is the eToro platform. eToro offers the lowest fees in Australia plus has over 8000 assets to purchase on its exchange.
Can I buy shares on the Bank of Queensland?
Yes, BOQ now offers its own share trading feature through its online banking platform. However, the fees on BOQ are extremely high in comparison to traditional brokers like SelfWealth or eToro. To make a trade on the Bank of Queensland share investing feature, you will need to pay $17.95 for the brokerage fee, plus monthly, accounting, deposit, ticketing, and withdrawal fees.
For lower fees, we recommend sending funds from your BOQ account to a secure, regulated, and licensed brokerage platform. The best online broker is the eToro exchange, it's a multi-asset investing platform that offers stocks, ETFs, indices, commodities, fiat currencies, and cryptocurrencies. To learn more about eToro you can visit our comprehensive eToro Review.
How to buy stocks with BOQ
The best and most affordable way to invest in stocks with BOQ is by sending AUD to eToro and purchasing shares directly through their platform. eToro accepts AUD deposits from BOQ via bank transfer, credit/debit card, POLi, Skrill, Neteller & PayPal. Follow the below steps to buy stocks with BOQ.
- Open an account on eToro and complete the verification process.
- Click 'Deposit Funds', pick a method and send AUD from your BOQ account.
- Go to the search bar, find the stock you want to buy, and select 'Trade'.
- Enter the amount you wish to invest and tap the 'Set Order' button.
What is the Bank of Queensland
The Bank of Queensland, commonly known as BOQ, is a regional bank based in Brisbane. Founded in 1874, BOQ offers personal banking, business banking, and wealth management services. In addition to its retail operations, BOQ also has a specialized financial services division that provides equipment finance and commercial loans. As of 2019, the bank had over 200 branches throughout Australia.
In recent years, BOQ has made moves to differentiate itself from larger banks by focusing on customer service and advocating for responsible lending practices. In 2018, the bank launched a campaign called "Fair Go Banking," which aimed to promote transparency and fairness in the banking industry.
Are the fees high to purchase shares?
Not when you use the eToro exchange, as it offers free and instant AUD deposits for Bank of Queensland account holders. In addition to free deposits, the platform does not charge any commissions to trade stocks or ETFs. Furthermore, it does not charge any of the additional fees most brokers charge including ticketing and monthly fees. There is only a $5 fee for withdrawals.
Can I buy BOQ shares?
BOQ is listed on the Australian Stock Exchange and currently has a market capitalisation of over $4 billion. In 2019, the bank reported total assets of $67.5 billion and net profit after tax at $383 million. Unfortunately, eToro does not have this stock listed on its exchange, if you wish to purchase BOQ shares, we recommend doing so through the BOQs share investing feature.