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Warrants offer a form of gearing that can help you leverage, diversify and earn extra income from your portfolio - without the risk of margin calls.

Applications for ANZ Share Investing accounts will close on 1 July 2022.

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Gearing without margin calls

Warrants offer a highly flexible form of gearing that allows you to borrow to invest in a wide range of securities – including shares, exchange traded funds, indexes, commodities and currencies.

Warrants can play an important role in a portfolio by offering profit potential in any market conditions. For example, Warrants over shares can help you protect yourself against share price falls, earn extra income if share prices are flat, or potentially generate leveraged returns if shares rally or decline.

Some Warrants may also be used to provide gearing within a Self-Managed Super Fund.     

A key benefit of Warrants is that, unlike some Options, you won’t be asked to provide additional funds through a margin call. However, you need to make sure you understand the risks of Warrants, as you can lose the entire cost of the Warrant if the market moves against you. 

Details at a glance

Applications for ANZ Share Investing accounts will close on 1 July 2022.

May be suitable if you:

  • are confident managing your own portfolio
  • want access to a broad range of investments
  • are comfortable with the risks of Warrants

Minimum initial investment:


Brokerage starting from:


More rates and fees

Warrants and Options

Warrants and Options can be similar in some cases, but they are different products:

  • Options contracts are standardised as prescribed by the ASX, while Warrants can be issued by banks or other financial institutions with a wide variation of features.
  • Warrants are usually issued over a wider range of securities (such as currencies and commodities).
  • There are no margin calls on Warrants.

Understanding Warrants

Derivative products such as Warrants can be complex and may not be suitable for some investors. Before purchasing a Warrant you should obtain the Product Disclosure Statement and consider the statement carefully before making any decision.

Learn more about Warrants with the ASX’s Understanding Trading and Investment Warrants (PDF 851kb) booklet.



Key considerations


  • No margin calls
    Due to the limited recourse nature of the leverage provided, Warrants are not subject to margin calls. This means the most you put at risk is your initial purchase price of the Warrant.
  • Broad exposure
    You can gain exposure to a wide range of underlying assets, helping you spread risk across your portfolio.
  • Take advantage of leverage
    A small price change in the underlying asset price can mean a larger percentage change in the value of your Warrant.
  • Generate income with Instalment Warrants
    With Instalment Warrants, you may receive dividends and franking credits for the underlying securities (subject to eligibility).



  • Leverage
    If the price of the underlying asset moves against your position, the market price of the Warrant will fall by a larger percentage. It may fall as low as zero, but you cannot lose more than your original outlay.
  • Loss of capital
    If a stop loss is reached, a warrant will automatically terminate and investors may receive significantly less than their original investment, or it may expire worthless.
  • Counterparty risk
    The ability of the Warrant issuer to fulfil its obligations to you may vary.
  • Market risk
    Changes to interest rates, volatility and dividends may adversely affect the value of a Warrant.

How to apply

  1. Apply for an ANZ Share Investing account
  2. Verify your identity
  3. Deposit funds in your account
  4. Start trading!

Applications for ANZ Share Investing accounts will close on 1 July 2022.


Details to have handy

  1. Current Australian driver’s licence, and
  2. Australian birth certificate or Australian citizenship certificate, or
  3. Australian passport (current or one that has expired within the last two years) or current foreign passport including the signature page.

Not opening an individual account? Complete the application and we'll let you know what documentation you need to provide.



Why choose us?

  • Flexible trading platforms that let you trade on the go
  • Powerful trading tools, advanced charting and trusted research
  • Trade with your own funds or borrow from ANZ
  • Seamless integration with ANZ Internet Banking and ANZ Investment Lending
  • Immediately trade sale proceeds prior to settlement

Contact us


1300 658 355

Monday – Friday, 8am – 8pm (Sydney/Melbourne time)


Send us an email


The ANZ Share Investing service is provided by CMC Markets Stockbroking Limited ABN 69 081 002 851 AFSL 246381 (CMC Markets Stockbroking), a Participant of the Australian Securities Exchange (ASX Group), Sydney Stock Exchange (SSX) and Chi-X Australia (Chi-X) at the request of Australia and New Zealand Banking Group Limited ABN 11 005 357 522 (ANZ). Disclosure documents relating to ANZ Share Investing products and services are available on or by calling us on 1300 658 355. ANZ is the issuer of the ANZ Cash Investment Account and ANZ V2 PLUS Account. The obligations of CMC Markets Stockbroking are not guaranteed by ANZ. CMC Markets Stockbroking and ANZ are not representatives of each other.

The ANZ Share Investment Loan is provided by Australia and New Zealand Banking Group Limited ABN 11 005 357 522, AFSL 234527 ("ANZ").

An ANZ Share Investment Loan is subject to investment risks, including possible losses in income, capital invested and additional liability for the loan. We therefore strongly advise you talk to your financial planner, tax adviser and/or stockbroker and ensure you understand the risks, the specific tax implications as well as the legal and financial ramifications of a share investment loan.

ANZ does not give personal advice about the ANZ Share Investment Loan or it's tax implications. This information is of a general nature and has been prepared without taking account of your objectives, financial situation or needs. You should consider the appropriateness of the information, having regard to your objectives, financial situation and needs. ANZ recommends that you read the ANZ Share Investment Loan Product Disclosure Statement and the ANZ Investment Lending Terms and Conditions which are available at or by calling the Client Services Team on 1800 639 330 between 8.00am and 6.00pm (Sydney/Melbourne time) during ASX trading days before deciding whether to acquire, or to continue to hold the product.

All ANZ Share Investment Loan applications are subject to ANZ’s credit approval criteria. Fees and charges apply and are available here or by calling the Client Services Team on 1800 639 330 between 8.00am and 6.00pm (Sydney/Melbourne time) during ASX trading days.