In Australia, a new fintech firm called FinClear has launched the first HIN platform. This platform will allow financial planners and advisers to offer their clients a HIN-based investment solution at a low cost. This technology will enable financial advisers to keep their clients' investments in one place without paying for a brokerage fee.

This platform works for Australian investors only. It costs less than $1,000 to open an account. It also allows you to transfer your existing HIN to another one. The HIN platform web interface is simple to use and includes a mobile app. The mobile app offers good search functions and limit and stop orders. It also has ongoing improvements, including the ability to transfer portfolios.

There are two HIN models in Australia: Issuer Sponsored and CHESS Sponsored with Broker. For the Issuer Sponsored model, an investor registers themselves as the legal owner of the shares. If the shares are held by a broker, the broker will look up the HIN in their CHESS statement. If the client wishes to remain anonymous, he or she can use the nominee model to hold the shares.

Finclear also offers electronic trading of options on their platform. Its Chess clearing and settlement system also supports HIN accounts. It is important to note that the Finclear requires that you use a broker to trade on the platform. This ensures greater transparency and orderly trading for everyone involved. A brokerage account requires more than a username and password, so be sure to provide all the information required.

HIN stands for Holder Identification Number, and it is used by the Finclear to track the ownership of shares traded on its market. CHESS-sponsored brokers are required to issue holders with HINs. The HIN is a unique number used to identify the shareholder and access the shares. As such, it is very important to protect your HIN.