Summary: Unfortunately, Bendigo Bank users cannot invest in stocks directly through the banking platform. However, they can buy stocks with the Australian dollars in their Bendigo Bank account by going through a reputable online broker. There are many brokerage platforms to choose from in Australia including eToro, SelfWealth and Interactive Brokers.
The best and most secure brokerage platform in Australia is the eToro exchange. On eToro, users have the opportunity to invest in multiple asset classes including stocks, ETFs, commodities, indices, fiat currencies and cryptocurrencies. It's a social trading platform that offers unique features like CopyTrading, where you can mimic the trades of successful investors.
Where to buy stocks with Bendigo Bank account
If you want to buy stocks with the funds in your Bendigo Bank account, you have come to the right place. To buy stocks in Australia you need to use a regulated and licensed brokerage platform. You can transfer money from your Bendigo Bank account to the platform and purchase stocks directly on there.
eToro is the most reliable and secure multi-asset platform in Australia and allows users to invest in stocks, ETFs, commodities, indices, currencies and crypto. Additionally, it offers multiple useful features and is considered a 'social investing platform'. On eToro you can use the CopyTrading feature or you can access the social media platform to discuss trading strategies with other users.
How to buy stocks with Bendigo Bank in Australia
The most secure and affordable way to buy stocks with a Bendigo Bank account is through the eToro platform.On eToro, users can deposit funds from Bendigo Bank via POLi, Bank Transfer, Credit/Debit Card, PayPal, Skrill & Neteller. Follow the below steps to get started.
- Sign Up: Create an account on eToro and verify your identity.
- Deposit AUD: Click 'Deposit Funds', pick a method and send money to eToro.
- Find Asset: Search for the asset you want to purchase and select 'Trade'.
- Buy Stock: Input the amount you want to invest and tap 'Set Order'.
About Bendigo Bank
Bendigo Bank is one of Australia's leading regional banks. Founded in 1858, Bendigo Bank has over 200 branches across Australia and offers a full range of banking products and services. Bendigo Bank is also one of the few remaining mutual banks in Australia, meaning it is owned by its customers.
The bank has a strong focus on community involvement and was recently named the 'Most Community Engaged Bank' in Australia. The bank is also known for its competitive mortgage rates and friendly customer service. It has an impressive 2 million users, which is 10% of Australia entire population.
What are the fees involved in buying stocks?
When you use the eToro exchange, it is extremely affordable to invest in stocks as the platform offers free/instant AUD deposits for Bendigo Bank account holders. In addition to free AUD deposits, eToro also offers commission-free trading on stocks and ETFS, making it virtually free to buy stocks. For a comprehensive breakdown of eToros fees, you can visit its pricing page.