Quick guide: How to set up and start trading
You can establish a DIO account online and start trading in just a few days. Learn how to get started, how to make transactions, and how to transfer your investments from your super to your pension account.
You can invest in the DIO if you...
- Are a legalsuper member (Super or Pension – this excludes TTR accounts)
- Hold a minimum legalsuper balance of 10,000
- Have a minimum DIO cash account balance of $250
- Have a minimum non-DIO holding of $3,000*
- Your maximum single S&P/ASX300 is 25% of your total legalsuper balance
Please note that setting up your DIO account may take between 2-7 business days depending on various factors.
* In addition to the $3,000 shown above, existing or new Pension members who instruct legalsuper to transfer funds into their DIO must be aware of the Minimum Pension Payment Requirement (Requirement). This Requirement is to ensure that Pension members maintain sufficient money in their non-DIO investment option(s) to meet the legislated annual minimum pension payment. Therefore, the minimum non-DIO holding requirement for Pension members will be the greater of $3,000 or the equivalent of 13 months of the required annual minimum pension payment.
How to open your DIO account and start trading
Step 1: Open your DIO account
You need to be a legalsuper member to open a DIO. If you're not already a member join here, otherwise follow these steps:
- Read the relevant section of legalsuper’s Product Disclosure Statement;.
- Log in to MemberAccess and go to the ‘Investments’ tab.
- Enter your details to register a 'Free' or 'Full Access' Direct Investment Option account.
- If you wish to trade as a Full Access user, transfer money across to your Cash account before trading.
Step 2: Transfer funds into your DIO Cash account
If you have chosen to become a Full Access User, you will be requested to transfer cash from your other legalsuper investments to your Direct Investment account.
The DIO Cash account will be used to move money into or out of the DIO, settle fees and costs for the purchase of investments, brokerage and some account fees and for any interest, dividends (not being reinvested through a Dividend Reinvestment Plan) and tax to be paid into or out of the account.
The DIO Cash account will increase with all dividends (not being reinvested through a Dividend Reinvestment Plan), distributions, interest, maturities from Term Deposits and the proceeds of any sale of investments. The impact of pending settlements, e.g. unsettled trades and fees may reduce the available cash to make further investments.
A minimum balance of $250 must be maintained and any interest earned in the DIO Cash account is calculated daily and paid monthly in arrears on or around the first National Business Day of the following month.
To transfer funds to your Cash account select ‘Transfer In’ and enter the amount you wish to transfer to your DIO account. Transfers made before 4.00pm (AEST) will take effect two national business days after receipt of your request. You will not be able to transact until your transferred funds have been credited into your Cash Account.
Once the funds have been received into your Cash account, you can commence purchasing shares, ETFs, LICs and/or Term Deposits.
You must retain at least $250 in your Cash Account at any point in time so it is important to transfer enough funds to cover this minimum and any fees and costs that may apply, and any additional amount you wish to invest.
Step 3: Start Direct investing
Once a minimum balance of $250, plus enough money to cover the acquisition of any new investments, and any related fees and taxes is credited to your DIO Cash Account, you can start investing.
Want to speed up the process?
Our DIO specialists can set you up with your own direct investment account.
To book a meeting, select one of the following specialists (please note, our DIO specialists can help members from any state, however, you will need to select one of the states below):
- Tony Dodd (QLD)
- Benjamin Fernandes (VIC)
- Greg Leaney (QLD)