Deep Almanac

Cheapest online stockbrokers in Australia, by trade size

Brokerage on one ASX trade at 33 online brokers taking new Australian clients, cheapest first. Choose the size of your usual trade: the order changes a lot between a $1,000 trade and a $50,000 one, because some brokers charge a flat fee and others a percentage.

33 brokers. Brokerage read from each broker's own pages, each broker's record last re-read by hand between 15 October 2026 and 8 November 2026 (the date is on its page); every quoted sentence re-read daily, last on 13 November 2026. Licences from ASIC's register (release of 11 November 2026). JSON · OpenAPI

Cheapest at each trade size. The table below is sorted for a $10,000 trade; choose another size to re-sort it.

$1,000 trade: cheapest of any kind $0.00 (Betashares Direct, IG); cheapest CHESS-sponsored $1.00 (Webull)
$5,000 trade: cheapest of any kind $0.00 (Betashares Direct, IG); cheapest CHESS-sponsored $1.50 (Webull)
$10,000 trade: cheapest of any kind $0.00 (Betashares Direct, IG); cheapest CHESS-sponsored $3.00 (moomoo, Stake, Tiger Brokers, Webull)
$25,000 trade: cheapest of any kind $0.00 (Betashares Direct, IG); cheapest CHESS-sponsored $3.00 (Stake)
$50,000 trade: cheapest of any kind $0.00 (Betashares Direct, IG); cheapest CHESS-sponsored $5.00 (Stake)

Buying ETFs. Some brokers charge less for an ETF than for a share, so for ETFs the order differs from the table:

$1,000 ETF buy: cheapest of any kind $0.00 (Betashares Direct (selected ETFs only), IG, Webull, Vanguard Personal Investor (Vanguard ETFs only; $9.00 to sell)); cheapest CHESS-sponsored $0.00 (Webull)
$2,000 ETF buy: cheapest of any kind $0.00 (Betashares Direct (selected ETFs only), IG, Webull, Vanguard Personal Investor (Vanguard ETFs only; $9.00 to sell)); cheapest CHESS-sponsored $0.00 (Webull)
$5,000 ETF buy: cheapest of any kind $0.00 (Betashares Direct (selected ETFs only), IG, Webull, Vanguard Personal Investor (Vanguard ETFs only; $9.00 to sell)); cheapest CHESS-sponsored $0.00 (Webull)

Offers are not ranked. CommSec Pocket has an offer: $0 brokerage on CommSec Pocket trades placed through the CommSec Pocket app or CommBank app and executed from 20 April 2026 to 31 March 2027; CommSec may withdraw or change the offer at any time. Not counted for ETFs: eToro, whose pages do not say it trades ASX ETFs.

#	Broker	On $10,000	Of trade	Your shares	Executes ASX orders	International	Account fee	Conditions
1	Betashares Direct Partial ASX	$0.00	0.00%	Custodial	Not stated	No	None	Transfer-out costs up to $9.50 per security; Betashares keeps the interest on cash balances.
2	IG	$0.00	0.00%	Custodial	Not stated	Yes	None	Phone trades cost $50 or 0.1% (incl GST).
3	Superhero	$2.00	0.02%	Custodial	FinClear Execution Pty Ltd	Yes	None
4	eToro Partial ASX	≈ $2.92	0.03%	Custodial	Not stated	Yes	None	Charged in US dollars on each open and each close, so a round trip is US$4.; No commission on ETFs.; Commission is calculated in US dollars whatever the stock's currency; an AUD account trades Australian-dollar shares with no conversion fee, but deposits and withdrawals in other currencies are converted for a fee.
5	moomoo	$3.00	0.03%	Either	FinClear Execution Ltd	Yes	None	The FSG of 1 October 2026 charges this as two fees per order, a commission of 0.01% (minimum $1) and a platform fee of 0.02% (minimum $2), both GST inclusive; both minimums give way at $10,000, so the total is the same $3 or 0.03%.
6	Stake	$3.00	0.03%	CHESS-sponsored	FinClear Execution Ltd	Yes	None
7	Tiger Brokers	$3.00	0.03%	CHESS-sponsored	OpenMarkets Australia Limited	Yes	None	A promotion waives the minimum brokerage for up to 4 trades a month for new users (not reflected).
8	Webull	$3.00	0.03%	CHESS-sponsored	Webull Securities (Australia) Pty. Ltd.	Yes	None	ASX ETFs are $0 per trade.
9	Marketech Focus	$5.00	0.05%	CHESS-sponsored	Openmarkets Australia Limited	No	$20.00 a month	A paid subscription is required to trade: Plus $20 a month, Pro $45, Edge $65; the free Lite tier cannot trade.; The online rate requires CHESS participant sponsorship; a Macquarie CMA is required for Australian residents.; Non-residents pay $6.00 up to $15,000 and 0.04% above.
10	Sharesies Partial ASX	$6.00	0.06%	Custodial	CMC Markets Stockbroking Limited	Yes	None	$5 plan: $5.00 a month; $10 plan: $10.00 a month; $20 plan: $20.00 a month
11	Pearler	$6.50	0.07%	CHESS-sponsored	Openmarkets Australia Limited	Yes	None	$5.50 on $10,000 if brokerage is prepaid (not ranked); Micro: $2.00 a month, does not buy ASX shares
12	ThinkMarkets	$8.00	0.08%	CHESS-sponsored	FinClear Execution Limited	No	None	An order above $200,000 must be placed as several orders, each charged $8.; Premium Live Streaming price data $22.00 per month (optional, until cancelled); live click-refresh and delayed prices free.
13	Totality	$8.00	0.08%	Either	Not stated	Yes	None	This is the default custody account (Saxo Bank A/S custodian). A HIN/CHESS account costs more: Classic 0.1% min AUD 14.90, First tier 0.06% min AUD 14.90.; First tier custody costs 0.03% min AUD 3.
14	Interactive Brokers	$8.80	0.09%	Custodial	Interactive Brokers Australia Pty Ltd	Yes	None	The Tiered plan is 0.08% with a AUD 5.00 minimum for monthly trade value up to AUD 3m, lower above, plus exchange and clearing fees.
15	POEMS	$9.00	0.09%	CHESS-sponsored	Phillip Securities (Aus) Limited	Yes	None	The online rate is for CHESS-sponsored holdings only.; Offline trades cost 0.19%, minimum AUD 57.
16	Vanguard Personal Investor Partial ASX	$9.00	0.09%	Custodial	UBS Securities Australia Ltd	No	0.1% a year	Vanguard ETFs: $0 to buy, $9 to sell.; A separate 0.10% p.a. account fee applies to ASX direct share holdings.
17	SelfWealth	$9.50	0.10%	CHESS-sponsored	FNZ Custodians (Australia) Pty Ltd	Yes	None
18	Halal Money Partial ASX	$10.00	0.10%	Custodial	Openmarkets Australia Limited	No	None
19	CMC Invest	$11.00	0.11%	CHESS-sponsored	CMC Markets Stockbroking Limited	Yes	None	The first buy of up to $1,000 in a security on a day is $0 (once per security per day; not for margin-settled trades). The website says "under $1,000", the FSG says "up to the value of $1,000 per stock".; ALPHA plan costs $9.90 or 0.075%.
20	Sequoia Direct	$13.20	0.13%	CHESS-sponsored	Morrison Securities Pty Limited	—	None	Rates are worded "Starting form $12.00 or 0.08%", so lower negotiated rates may exist.; EQUIX Live Data $50.00 per month; EQUIX Click2Refresh free.; A linked cash management account is required to settle trades.
21	Bell Direct	$15.00	0.15%	CHESS-sponsored	Third Party Platform Pty Ltd	Yes	None	These rates are for the first 10 trades each month; the 11th to 30th trades cost $13 or 0.08% and the 31st onward $10 or 0.08%.; Settling via a Macquarie CMA costs $19.95 or 0.12%.
22	Capital 19	$15.00	0.15%	Custodial	Interactive Brokers Australia Pty Ltd	Yes	None	Accounts are opened by application, not instant online sign-up.; Phone orders cost the same as online orders.; Currency conversion fee US$25 + 0.1% of trade value (FSG).; IBKR Australia may charge market data, withdrawal, stock transfer and research fees.
23	HALO	$15.00	0.15%	Custodial	Interactive Brokers Australia Pty Ltd	Yes	$10.00 a month	The rate is for non-advised clients.
24	Trade for Good	$15.00	0.15%	CHESS-sponsored	Australian Investment Exchange Limited (AUSIEX)	No	None	New accounts are opened by phone or email while online sign-up is being updated.; Orders accepted only via the software, not by phone or email.; Initial purchase of a holding must be at least $500.; Live ASX data $30.00 per month (retail); request-based data free.; SMSFs pay the same brokerage but no charity rebate is made.
25	Bendigo Invest Direct	$19.95	0.20%	CHESS-sponsored	CMC Markets Stockbroking Limited	Yes	None	Platinum tier (35+ trades a month) costs $17.95 or 0.11%.; Online brokerage on US, UK, Japan and Canada shares is $0.
26	CommSec	$19.95	0.20%	CHESS-sponsored	Commonwealth Securities Limited	Yes	None	Settlement to a CDIA or CommSec Margin Loan is required for these rates (FSG note 6 also makes CHESS Participant Sponsorship a condition).; Online trades settled into a bank account of your choice cost $29.95 up to $9,999.99 and 0.31% from $10,000.
27	nabtrade	$19.95	0.20%	CHESS-sponsored	WealthHub Securities Limited	Yes	None
28	Netwealth Share Trading	$19.95	0.20%	CHESS-sponsored	Australian Investment Exchange Limited (AUSIEX)	—	None	Premium tier costs $23.50 up to $10,001, $31.99 up to $25,001, then 0.13%.
29	Westpac Share Trading	$19.95	0.20%	CHESS-sponsored	Australian Investment Exchange Limited (AUSIEX)	Yes	None	Settling to another bank account costs $29.95 or 0.29%.; Issuer-sponsored sales cost $15 on top of brokerage.
30	CommSec Pocket Partial ASX	$20.00	0.20%	CHESS-sponsored	Commonwealth Securities Limited	No	None	$0 brokerage on trades executed from 20 April 2026 to 31 March 2027 through the CommSec Pocket app or CommBank app, an offer CommSec may withdraw or change at any time; offers are not ranked (etf_brokerage.offer).
31	Bank of Melbourne Directshares	$24.45	0.24%	CHESS-sponsored	CMC Markets Stockbroking Limited	Yes	None	2nd and subsequent online orders placed in the same calendar month: $19.95 up to $18,000; greater of $19.95 or 0.11% for $18,001-$28,000; 0.11% over $28,000.; Requires an eligible St.George, BankSA or Bank of Melbourne transaction account (not savings or term deposit) in the exact same name, or a St.George/BankSA margin loan.; Pro platform $49.00/month, waived in a month with 5 or more trades or no Pro logon; Standard platform free.; Telephone orders from $69.95; international (Global Share Service) greater of $59 or 0.59%.; International shares custody fee 0.50% a year (minimum $10), applied monthly to the value of foreign holdings; it may be waived if an international trade was placed in the previous 12 months.
32	BankSA Directshares	$24.45	0.24%	CHESS-sponsored	CMC Markets Stockbroking Limited	Yes	None	2nd and subsequent online orders placed in the same calendar month: $19.95 up to $18,000; greater of $19.95 or 0.11% for $18,001-$28,000; 0.11% over $28,000.; Requires an eligible St.George, BankSA or Bank of Melbourne transaction account (not savings or term deposit) in the exact same name, or a St.George/BankSA margin loan.; Pro platform $49.00/month, waived in a month with 5 or more trades or no Pro logon; Standard platform free.; Telephone orders from $69.95; international (Global Share Service) greater of $59 or 0.59%.; International shares custody fee 0.50% a year (minimum $10), applied monthly to the value of foreign holdings; it may be waived if an international trade was placed in the previous 12 months.
33	St.George Directshares	$24.45	0.24%	CHESS-sponsored	CMC Markets Stockbroking Limited	Yes	None	2nd and subsequent online orders placed in the same calendar month: $19.95 up to $18,000; greater of $19.95 or 0.11% for $18,001-$28,000; 0.11% over $28,000.; Requires an eligible St.George, BankSA or Bank of Melbourne transaction account (not savings or term deposit) in the exact same name, or a St.George/BankSA margin loan.; Pro platform $49.00/month, waived in a month with 5 or more trades or no Pro logon; Standard platform free.; Telephone orders from $69.95; international (Global Share Service) greater of $59 or 0.59%.; International shares custody fee 0.50% a year (minimum $10), applied monthly to the value of foreign holdings; it may be waived if an international trade was placed in the previous 12 months.

Standard online brokerage for one ASX trade, as each broker quotes it: including GST where the broker says so, with GST added where it quotes before GST, and as published where it does not say, which may be before GST. Phone and adviser orders cost more. A broker's page explains its tiers and shows the sentence each figure is read from. ≈ eToro charges in US dollars; shown in Australian dollars at the Reserve Bank's 4pm rate, AUD 1 = USD 0.6841 on 12 November 2026. The broker converts at its own rate.

CHESS-sponsored or custodial

CHESS-sponsored: the shares are registered in your name under your own Holder Identification Number (HIN) on the ASX's CHESS subregister. If the broker fails, the shares are still yours on the register and you can move them to another broker. 23 of the 33 brokers offer it.
Custodial: a custodian holds the shares for you, usually alongside other clients' shares in one account. You are still the beneficial owner, but you rely on the custodian's records, and moving the shares to another broker can be slower or cost a fee. It is usually how the cheapest brokers keep prices down.
Executes ASX orders is the ASX market participant that actually places the trade. Many apps are not participants themselves and send orders through one, such as Openmarkets or FinClear; this is from the broker's own Financial Services Guide.

Brokers not in the table, and why

Each of these either closed, merged into a broker above, stopped taking new clients, or does not sell ASX shares to the public. Where clients were moved to another broker, that broker is named.

Closed or merged

ANZ Share InvestingClosed. Accounts that did not self-transition were moved automatically to CMC Markets Invest on 15 March 2023. Now: CMC Invest.
BOQ Online Share TradingDiscontinued. BOQ Online Share Trading transitioned on 14 May 2024 to CMC Markets Stockbroking Limited (CMC Invest). Now: CMC Invest.
Macquarie Online TradingClosed to new applications from 22 January 2025. After 22 February 2025 retail clients moved to Bell Direct and advised clients to Desktop Broker. Now: Bell Direct.
OpenTraderClosed. Its website now leads to Openmarkets, which says it does not serve retail traders directly and points them to Marketech. Now: Marketech Focus.
Saxo (Australia)Renamed Totality: Saxo's Australian website now leads to Totality, which describes itself as "formerly Saxo Australia". Now: Totality.
Six ParkClosed: its website now shows a "Goodbye for now" page.
SyfeSyfe Australia closed on 31 July 2025 after Syfe bought Selfwealth; buying was switched off from 1 June 2025 and remaining holdings were to be sold. Its Australian website now leads to Selfwealth. Now: SelfWealth.
Wilsons AdvisoryCombined with Canaccord Genuity; its website now shows a "We Have Moved" page. Now: Canaccord Genuity Wealth Management (Australia).

Closed to new clients

HSBC InvestClosed to new applications. As HSBC closes its Australian retail banking business, HSBC Invest accounts and portfolios move to Bell Direct, run by the same firm (Third Party Platform), on 21 November 2026. A client who does not want to move must ask another broker for a stock transfer by 13 November 2026. TPP stays the sponsoring CHESS broker and clients keep their HIN (HSBC's FAQ of 17 September 2026 and letter of 14 October 2026). Moving to Bell Direct on 21 November 2026.
HSBC WorldTraderClosed to new customers: HSBC is closing its retail banking business in Australia. Accounts, portfolios and cash holdings are to move to Interactive Brokers Australia, which already runs WorldTrader, "in the coming months" (letter and FAQ of 14 October 2026). HSBC has not yet set the transfer date or the deadline for moving to another broker instead, which it says it will give in advance; until the transfer accounts keep trading under current terms through the linked HSBC account (letter of 12 August 2026). Moving to Interactive Brokers; no date set yet.

Only through a financial adviser

Baker YoungAdvice, portfolio management and stockbroking for private clients; no online self-directed account found.
Bell Potter OnlineOperating, for financial planners and intermediaries only; client accounts are opened by an adviser who is an authorised representative of a current AFSL.
Burrell StockbrokingShare trading is through Burrell advisers. "Burrell Online" is a set of managed model portfolios (administered by OpenInvest), not a self-directed trading account.
Canaccord Genuity Wealth Management (Australia)Adviser-led wealth management for high-net-worth clients; no self-directed online trading.
Desktop BrokerOperating but adviser-only: accounts are opened by a financial adviser; retail investors cannot sign up directly.
Euroz HartleysPrivate wealth/adviser stockbroking in WA; no online self-directed trading account found.
iInvest Trading & AdvisoryFull-service advisory stockbroker (general and personal advice, trading desk); brokerage is set with the client's iInvest adviser, minimum $110 + GST. No self-directed online trading platform is described.
JBWerePrivate wealth adviser firm in the NAB group; broking for JBWere clients is provided by WealthHub Securities, but access is through a JBWere adviser, not a self-directed online account.
LGT Wealth Management (formerly Crestone)Crestone is now LGT Wealth Management Australia, a private wealth adviser for high and ultra-high net worth clients. No self-directed online share trading.
MorgansFull-service stockbroker; shares are bought and sold through an adviser. No self-directed online account is offered on its site.
Ord MinnettFull-service, adviser-led stockbroking; no self-directed online trading account is offered on its site.
Shaw and PartnersFull-service wealth manager and stockbroker (part of EFG International). Its 'Shaw and Partners Online' portal is only for existing Shaw clients.

Serves other brokers and apps, not the public

BarrenjoeyInstitutional investment bank; states it does not offer investment services to the public.
ESUPERFUND EBROKINGOperating, but offered only to ESUPERFUND SMSF clients for trading inside their SMSF; it is not a stand-alone retail brokerage account.
Morrison SecuritiesOperating as a white-label and B2B broker for AFSL holders and wholesale direct clients; no public retail pricing.
OpenInvestWhite-label online investing (managed portfolios) for advice firms; not a retail broker.
OpenmarketsOperating as a wholesale and institutional broker only; it says it does not open accounts for retail traders.
PaduaAdviser software (Padua Advice Portal); AUSIEX is its exclusive broking provider. Not a retail broker.
Tandem SecuritiesWholesale/institutional execution and clearing arm of Third Party Platform; not a retail service.
Velocity TradeGlobal institutional broker-dealer; FinClear provides it third-party clearing. Serves corporations and institutions, not retail clients.

Does not offer ASX shares

AxiCFDs only (450+ CFD instruments including shares).
CoinSpotCrypto only.
DouughSite now offers a waitlist for a cash-advance product; no investing or shares.
FIIG SecuritiesDirect bond (fixed income) dealer, a wholly owned subsidiary of AUSIEX since June 2025; offers bonds, not online ASX share trading.
FirstradeUS broker; stocks limited to US exchanges.
GO MarketsCFD issuer only: ASX exposure is through share CFDs, with no account that buys the shares themselves.
Hejaz InvestaHejaz Investa is a professionally managed portfolio of three Hejaz active ETFs (ISLM, SKUK, HJHI) administered through the OpenInvest Portfolio Service; clients do not choose or trade the holdings. Hejaz's app for buying and selling those ETFs on ASX is Halal Money, listed separately.
KrakenCrypto exchange in Australia; Kraken Equities is US-only.
PepperstoneShares are offered only as CFDs; no physical share dealing on the AU site.
QuietGrowthRobo-advice managed discretionary account (MDA); not self-directed trading.
RaizOperating, but a micro-investing managed fund, not a share broker.
Revolut TradingOperating, but trading is US-only through DriveWealth; no ASX shares.
SpaceshipOperating, now a subsidiary of eToro Group Limited. It offers managed funds, super and a US-share service, not ASX shares.
StockspotManaged (robo-advice) ETF portfolios only; clients do not place their own ASX trades.
SwyftxCrypto exchange only (410+ crypto assets); no shares.
Trading 212Operating in Australia but its FSG lists no ASX access.

Not available in Australia

HatchNew Zealand service for US shares and ETFs, funded in NZD; no ASX shares offered.
KuveraNo Australian Kuvera share platform found; Kuvera is an Indian investment platform.
LightyearNot available in Australia. Its help centre lists personal accounts only in EU/EEA countries, Norway and the UK.
uSMARTOperates through Hong Kong and Singapore companies and offers US, Hong Kong, Singapore, Japanese and UK shares, not ASX; no Australian entity or website was found.

Status unclear

amscotIts website now leads only to a PhillipCapital login for existing amscot clients; it publishes no pricing or way to open an account.
EasyEquitiesIts Australian site invites sign-ups, but whether Australians can open an account today could not be confirmed, and its Australian terms and FSG date from 2021.
IC Markets Share TradingUnclear whether it still takes new clients: its share trading FSG and a support line are still published, but its share trading and pricing pages now lead to its CFD homepage.
InvestSMARTUnclear. The site links a share trading login for existing clients but has no public sign-up or pricing, and the FSG covers only managed accounts, ETFs and subscriptions.
State One StockbrokingIts website now leads only to a PhillipCapital login for existing State One clients; it publishes no pricing, account opening or documents.

Questions

Why is CMC Invest $11.00 on a $1,000 trade when it says it's free?

The table prices the standard brokerage on any one trade of that size, buy or sell. CMC Invest's $0 covers only the first buy of each share or ETF on a day, under $1,000, and not trades settled with a margin loan. Selling those shares costs $11.00, and so does buying the same one again that day.

So a $1,000 buy and a later sell cost $11.00 in total at CMC Invest, against Betashares Direct ($0.00) and IG ($0.00) for the pair, or Webull ($2.00) among CHESS-sponsored brokers. CMC Invest's website says "under $1,000" while its Financial Services Guide says "up to" it, so a buy of exactly $1,000 may not be free. If you mostly buy small amounts and rarely sell, the free first buy makes CMC Invest cheaper than its price here, and it is CHESS-sponsored.

How do I check a broker's complaints record?

ASIC publishes the complaints each licensee received and handled itself, every six months, on its Internal Dispute Resolution data dashboard. Search it by the licence number on the broker's page here. Read it with these limits in mind:

It counts a whole licence, not one brand. CommSec's figures include its margin loans, cash management trust and payments as well as share trading, and some apps share a licence with others: Pearler and Marketech are both on Sanlam Private Wealth's, and Netwealth Share Trading is run on AUSIEX's alongside the other services AUSIEX provides. ASIC does break each firm's complaints down by product, which separates share trading from the rest.
There are no client numbers. A broker with millions of clients will always have more complaints than a small one, so the count says little about which is better. How quickly complaints are closed is the fairer comparison.
The figures are each firm's own report, and ASIC does not verify them. A firm missing from the data reported no complaints, did not report, or is an individual, and the data does not say which.

A complaint the broker does not resolve can go to the Australian Financial Complaints Authority, whose Datacube shows the complaints it receives by firm.

How this is built

Brokerage, the holding model and who executes the orders are read by hand from each broker's own pricing page, Financial Services Guide and terms, never from a comparison site. Each figure on a broker's page has the sentence it came from and a link to it, and those sentences are re-read daily so a price change is caught.
Each broker is matched to ASIC's licensee register on its AFS licence number alone, then the register's name and ABN are checked against the broker's own documents.
Brokers were found by going through the ASX market participants that place orders for retail brokers and the brands each one names, and by checking the ASX and NSX broker lists and comparison sites for names. Those lists were used only to find brokers; nothing on this page is taken from them.
These are the brokers found and checked so far, not a guarantee that no other exists. If one is missing, tell us with Comment at the foot of this page.

Deep Almanac is a secondary source and this page is provided for general information and reference. It is not financial, investment, legal, valuation, educational or other professional advice, and it is not a substitute for checking the original source. Brokerage is read from each broker's own pages by hand and re-checked daily, so a price change can take a day to appear, and a broker can charge differently from its standard online rate. You are responsible for any decision you or your software makes in reliance on this page. See our terms of use.