How to buy Palantir (PLTR) shares from Australia

By   |   Verified by David Boyd   |   Updated 25 Sep 2023

Palantir Technologies (NYSE: PLTR) is a US software company specialising in big data analytics. It is headquartered in Denver, Colorado. Founded in 2003, Palantir went public in September 2020.

This guide explains where you can buy shares in Palantir from Australia and what you need to consider before and after investing.

New to buying US shares? Check out our guide to buying shares in US companies.

About the company

Palantir overview

Palantir software helps its clients integrate and analyse their siloed data sets. The company has two different customer-facing platforms. Gotham has been designed for government agencies, especially in the defense and intelligence sectors. Foundry was built for commercial companies and has found uses in more than 40 industries. A third platform, called Apollo, offers a continuous delivery system that helps keep the other platforms constantly updated.

Unsure about what trading platform to use?

Where to buy Palantir shares

eToro

On website

Highlights

  • Trade and invest in top financial instruments, including a wide selection of stocks.
  • eToro is regulated by CySec, FCA, and ASIC.
  • Your funds are protected by industry-leading security protocols.
  • Earn up to 5.3% annual interest on your balance.
Saxo Markets

On website

Saxo Markets

Highlights

  • Invest in 23,500+ stocks from ASX, New York, Hong Kong, and 50+ other global markets.
  • No platform fees, no inactivity fees, and no FX fees on each trade.
  • Analyse, improve and manage your risk using intuitive trading tools.
Pearler

On website

Highlights

  • Enjoy low, transparent fees.
  • An option to Autoinvest. Set-and-forget your investment strategy.
  • Simply invest into any ETF from one of Pearler's ETF managers for at least one year, and it's free.
  • Clearing House Electronic Sub-register System (CHESS) sponsored.
Superhero

On website

Highlights

  • Open an account with just $100 and start investing today with a $5 flat-free brokerage ($0 on US shares) on share trades.
  • Buy and sell US shares & ETFs with $0 brokerage plus trade unsettled funds.
  • Fund your account in minutes with PayID and enjoy realtime FX transfers for fast US share trading.
Tiger Brokers

On website

Highlights

  • Available for ASX, US & HK stocks trading, ETFs, and US options trading.
  • Free market data for ASX and US stocks.
  • More accessible investment to all with a demo account.
Webull

On website

Webull

Highlights

  • Trade AU & US stocks, ETFs, and Options with $0 commission for the first 30 days.
  • Provides intuitive and powerful advanced charts, multiple technical indicators, and premier Level 2 Advance (Nasdaq TotalView).
  • Regulated by ASIC.

Pros

  • Invest from as little as US$5.
  • No deposit or withdrawal fees.
  • Allows you to trade fractional shares.
  • Access to advanced trading tools.

Cons

  • Scarcity of instructional resources for investors.
  • Supports AU and US markets only.
Moomoo

On website

Moomoo

Highlights

  • Trade blue-chip stocks in AU and US markets.
  • Trade multi-markets and multi-products with a lower commission. No custodian fee.
  • CHESS-Sponsored trading is now available.
  • Regulated by the Australian Securities and Investments Commission (ASIC).

Compare share trading accounts with Finty. Research differences in commissions, tradable assets, market access, and sign up bonuses.

First time buying?

How to buy Palantir shares

Step 1: Choose a broker

Many online brokers offer different options. There are several things to look at when choosing a broker. These are the top features you should look out for when selecting a broker.

Commission-free trading

This option is offered by many US share trading platforms. You can save money by trading without paying commissions.

Fractional share investments

Fractional share investing means you can buy a fraction of a share, meaning you can start small on your investment journey.

A user-friendly trading platform

Investing in shares doesn't need to be complicated. Look out for platforms that are easy to use with a clear and simple interface.

Reporting, analysis, and research

Look for platforms with strong reporting and research functions on such things as share price history, recommendations, analyst reports, and price forecasts.

Educational resources

Many platforms have an educational section where you can learn everything you need to know about the trading platform and what you can do with it. This isn’t a dealbreaker, but an extensive knowledge base for using their service absolutely is.

Step 2: Fund your trading account

Next, deposit funds into your account. It might take some time for funds to clear if you have just opened a trading account. Note that some brokers don’t require a minimum deposit to open an account whereas others do.

Step 3: Decide how much to invest in Palantir

Fractional sharing investing is a great choice. Fractional investing allows for you to start small, and take on less risk. You can also make more money by buying at lower prices, so your total cost will be lower.

Step 4: Choose between investing in an ETF or buying shares

ETFs are exchange-traded funds that allow you to either buy shares and own them or invest in them. They work in a similar way to mutual funds and this approach can prove beneficial in certain situations. Because they are not as controllable as mutual funds, these funds can be less attractive to active traders.

Many ETFs are exposed to Palantir, including SoFi Social 50 ETF (SFYF), ARK Next Generation Internet ETF (ARKW), SPDR S&P Software & Services ETF (SXW), and Vanguard Total Stock Market ETF (VTI).

Step 5: Set up an order

You can choose what you want to buy and how much. There are many options for order types. These are the most common:

Market order

Instant order to buy/sell shares. This guarantees that your order will be executed immediately but does not guarantee its price.

Let's say that Palantir shares trade at US$30. After you place an order, the price of Palantir shares drops down to US$28. Your purchase price will drop. The same holds true for price increases.

Stop limit

This type of order allows you to sell your shares at a certain price if the share price starts dropping. Let's suppose you want to sell your Palantir shares if the price falls to US$26 per share. Your stop limit order is executed if the shares drop to this price, but if the price for PLTR shares falls through your limit price before the sell order has been filled, then the order may not be executed.

Stop loss

Another mechanism aimed at preventing you from taking a hit on your shares if the price drops. You nominate a price at which you want to sell your Palantir shares - say US$25 per share. Your stop-loss order will be executed if the price falls to that level but your order will be filled at the next available market price.

Step 6: Buy shares

Once you have chosen a broker, funded your account, and decided how to invest your Palantir shares based on the order type, it is time to place your order. You can usually do this with a simple form on your broker’s website or app.

After you buy

What moves Palantir's share price

Once you invest in company shares, you have to keep track of your investment in terms of both share prices and company performance.

Track Palantir’s performance

Whether you are buying shares as a long-term investment or with a speculative motive, keeping an eye on your investment is important.

Watch for developments in software, data science and big data analytics

In general, the software industry has weathered the pandemic. Palantir helps its clients to make sense of big data, allowing data scientists to build AI models and applications, and empowering business leaders through data-driven decision-making. Since advancements in technologies will increasingly churn out more and more big data Palantir has growth prospects in both government and in business.

Competition

The top Palantir alternative according to recent software buyers is Alteryx. Others include MATLAB by MathWorks, Hubspot Analytics, Qlik, PARIS, and Stata.

Disclaimer: We put our customer’s needs first. The views expressed in this article are those of the writer’s alone and do not constitute financial advice. Advertisers cannot influence editorial content. However, Finty and/or the writer may have a financial interest in the companies mentioned. Finty is committed to providing factual, honest, and accurate information that is compliant with governing laws and regulations. Do your own due diligence and seek professional advice before deciding to invest in one of the products mentioned. For more information, see Finty’s editorial guidelines and terms and conditions.