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Pearler Review
Pearler is a Sydney investing app for ASX and US shares with flat 6.50 dollar brokerage, but it operates as an authorised representative rather than holding its own AFSL.
Min Deposit
AUD $0
Spreads From
AUD $6.50 brokerage
Max Leverage
Not applicable, Pearler does not offer margin or forex leverage
Platforms
2
Pros
- Flat 6.50 dollar brokerage per trade, or 5.50 dollars on the prepay plan
- Australian shares are CHESS sponsored with an individual holder number
- Referral program currently gives both sides a 9.50 dollar brokerage credit
- Automated recurring investing and round up features suit passive investors
Cons
- Operates as an authorised representative rather than holding its own AFSL
- US shares are held through a separate custodian and are not CHESS sponsored
- US trades carry an extra 0.5 percent currency conversion fee on top of brokerage
- The linked managed fund charges a separate 0.78 percent yearly management fee
Pearler Investments Pty Ltd started in 2018 and is based in Kensington, Sydney. It is not a direct AFSL holder itself. It operates as an authorised representative, number 1281540, of Sanlam Private Wealth Pty Ltd, which holds AFSL 337927.
Trading costs 6.50 dollars a side for Australian and US shares, or 5.50 dollars if a client prepays 55 dollars for credit. Australian shares are CHESS sponsored with an individual holder number, so they sit directly in the client's name. US shares are instead held through Alpaca Securities LLC, a separate US custodian, plus a 0.5 percent currency conversion fee.
Pearler also promotes a separate managed fund, the Pearler Investors Fund, run by an outside trustee, Cache RE, with its own 0.78 percent yearly fee. New clients who join through a referral link currently get a 9.50 dollar brokerage credit, and so does the person who referred them.
Min. Deposit
USD 0
Max Leverage
Not applicable, Pearler does not offer margin or forex leverage
Spreads From
$6.50 flat brokerage per trade, $5.50 on the prepay plan
Platforms
Regulators
Platforms
- ASIC (Australia)
- AFSL
