Broker setup checklist (10 minutes)

Educational content only — not financial advice.

1) Open an account

• Have your ID ready: driver licence or passport. Optional: TFN for tax reporting.
• Bank link: add the bank account you’ll fund from and withdraw to.
• CHESS sponsored (for ASX): choose a broker that issues a HIN in your name so your ASX holdings are registered to you.

2) Turn on security

• Strong, unique password (password manager recommended).
• Two-factor auth (2FA) via authenticator app (preferred) or SMS.
• Secure email (the email tied to your broker should also have 2FA).

3) Know the fees (the basics)

• Brokerage: per-trade fee (flat or tiered).
• FX fee: if you buy overseas assets in non-AUD.
• ETF fees: ongoing management fee (MER) taken inside the fund you won’t see a separate charge.

4) Do a tiny test buy

• Search an ETF you understand (e.g., broad Australia or global).
• Order type: use a small limit order to learn the flow without chasing price.
• Cancel if it doesn’t fill or let it rest for the day.

5) Optional quality-of-life setup

• DRP: turn on distribution reinvestment if you want hands-off compounding.
• Price alerts: set simple nudge prices instead of watching all day.
• Statements: note where to download tax & holding statements each EOFY.

Next up

• ETF Basics (Plain English) What ETFs are and how they work
• Build Your First $5k Portfolio A simple starter mix
• Compare ETFs in 10 minutes Quick checklist to choose