If I currently use CMC Markets and want to open up a Stake account, what happens to my CHESS HIN number? Does it need to be transferred including all my shares or can I have two platforms (CMC and Stake) simultaneously? Also, what is best practice when it comes to this?
CHESS HIN - investing on multiple platforms
brainactive on 16/09/2025 - 20:48
Comments
Are they any issues/cons with having more than 1 HIN
Apart from the additional admin of keeping track of everything, no.
I have 15 HINs.
Any particular reason you choose not to consolidate some of your HINs if it simplifies admin?
I prefer managing it all under one HIN. But otherwise you can do it over 2.
You can easily transfer your HIN to stake. There's even some sign up bonuses for doing so like free brokerage for a year.
If I transfer HIN to stake, does that mean all existing shares would now show up in my stake account and my CMC account will then show 0 shares?
Can HIN transfer happen after sign up or is it an option during sign up only?
Just my experience transferring a HIN from SelfWealth to CMC:
I had to sign up with a CMC account first, receiving a new HIN. Then the transfer starts. This took approx 10 weeks. I called both parties a lot and each blamed the other. CMC suggested not trading with the temporary initial HIN or the SelfWealth HIN as that could cause delays.
Once the transfer was finished, CMC removed the initial HIN and Selfwealth assigned me a new (unwanted) HIN to replace the old one they transferred to CMC. All my shares now live in CMC, but trade history and therefore average purchase price is not carried across. I manually update that using Sharesight data. No shares show up in SelfWealth now.
It was a PITA, but I wanted the free <$1000 trades for DCA purposes. If I wanted to do it again (likely to Stake), I would do it during a period I knew I didn't want to trade and then forget about trying to hurry up the process.
You get another HIN on Stake