I don't see why I would want fractional ownership. It seems to me that without CHESS sponsorship, I am giving the ownership to the custodian. If they go bust, haven't I lost all my rights. Besides, don't I lose voting rights too? The last point seems to me to say you must only buy through eToro, not say commsec/nabtrade, but the reasons aren't given why this is of benefit to the investor.

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I am totally agreed with the point you proved David, As Without CHESS sponsorship you will never know one day if the broker firm go bust and all of our hard earned money will be disappeared for good. Even though, you will a bit higher price in commission trade, but rest assured the stocks you purchased will be under your ownership. Another point to mention is Commsec or NABTrade are pretty transparency for the cost involved in your trading and they don't charge monthly maintaining fee like other smaller trading platforms, where they normally never inform you about such cost from the beginning.

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