Cheapest Stock Brokers in Australia – Brokerage Comparison (2026)

Finding the cheapest stock broker in Australia can have a big impact on your account balance over time, especially when trading fees and charges eat into your profits. But the cheapest share trading rate is not always the best value overall.

Add on currency conversion, custody arrangements, accounts fees, and you can end up with quite a different result. We are delving deeping into the cheapest stock brokers in Australia, focusing on five leading platforms: eToro, Interactive Brokers, Moomoo, SelfWealth, and Stake. There are also a few other low-cost alternatives like CMC Invest, IG, and Pearler that warrant a second glance.

Understanding Stock Broker Fees in Australia

Before choosing a specific broker, it’s a good idea to understand the various stock broker fees that can affect your trading costs. We will be referring to these in the individual breakdowns.

Brokerage fees: Charged per trade execution, whether buying or selling shares. Usually charged as a flat fee, cost per shares, or a percentage of the trade value.
Platform and subscription fees: These are recurring transactions, usually monthly or annual subscription costs linked to premium features of data.
Currency conversion costs: Fees or exchange rate spreads when you are buying or selling international shares, but holding an account in Australian dollars.
Inactivity fees: Charges for dormant accounts, when you do not use it for a certain period of time.
Withdrawal and transfer fees: Costs for transferring funds out of your account, or transferring between brokers.

The Cheapest Stock Brokers in Australia

After a comprehensive analysis of stock brokers available to Australian traders, we have picked out those that offer cheap share trading across either US, ASX, or international markets. Here is our list of the cheapest stock brokers in Australia

eToro: Social Investing Platform

eToro has gained popularity in Australia for its social investing features and competitive fee structure. Best for those who value simple pricing over traditional CHESS-sponsored share ownership.

eToro Fee Structure

• Australian shares: US$2 per trade
• US shares: US$2 per trade
• International shares: US$2 per trade
• Currency conversion: 0.5% spread on AUD conversions
• Withdrawal fees: $0 for AUD withdrawals, $5 from USD investment accounts
• Inactivity fees: None. eToro scrapped this earlier in 2026

Key Features

Copy trading, fractional investing, social investing community, educational resources, and access to multiple asset classes. eToro also offer a very user friendly app for mobile trading that is one of the best on the market, alongside commission free ETF investing.

Advantages and Disadvantages

Interactive Brokers: Professional Trading Platform

Interactive Brokers (IBKR) caters to serious traders and investors with comprehensive market access and competitive pricing. Best for investors who want international markets included, with an advanced platform.

Interactive Brokers Fee Structure

Australian shares: Fixed pricing is 0.08% of trade value, subject to a minimum of A$6 per order before GST. This is A$6.60 including GST at the minimum. Tiered pricing starts at 0.08%, with a minimum A$5 before GST for the lowest volume tier. Exchange and clearing fees can also apply.

US shares: Fixed pricing starts at US$0.005 per share, subject to a US$1 minimum per order. Tiered pricing starts at US$0.0035 per share, subject to a US$0.35 minimum, plus relevant third-party fees.

Currency conversion: Client-initiated spot currency conversion starts at 0.20 basis points (0.002%) of trade value, subject to a US$2 minimum before any applicable GST. Automated conversions can follow different pricing.

Account fees: Certain optional market-data and other services may attract charges.

Key Features

Broad international market coverage, advanced order types, research tools, professional trading platforms and competitive currency conversion.

Advantages and Disadvantages

Moomoo: Low Cost ASX, US Share Trading

Moomoo has entered the Australian market with a competitive fee structure, and advanced charting tools. Best if you want CHESS sponsored ASX shares alongside advanced charting.

Moomoo Fee Structure

Australian shares: A$3 per order or 0.03% of transaction value, whichever is greater, including GST.

US shares: US$0.99 per order, excluding applicable pass-through and other service fees.

Hong Kong shares: HK$3 or 0.03% of transaction value, whichever is greater, plus a HK$15 platform fee per trade.

Key Features

CHESS-sponsored Australian shares, advanced charting, US and Hong Kong market access, market data and paper trading.

Advantages and Disadvantages

SelfWealth: Flat-Fee Australian Broker

SelfWealth focuses specifically on the Australian market with a simple flat-fee structure. Best for larger trades, where the flat-fee pricing structure keeps cost down.

SelfWealth Fee Structure

• Australian shares: $9.50 AUD per trade (regardless of trade size)
• US stocks: $9.50 USD per trade
• No platform fees
• No inactivity fees
• Currency conversion: Competitive rates through third-party provider
• Optional Selfwealth Premium membership: A$29 monthly or A$240 annually.

Key Features

CHESS-sponsored Australian shares, flat-fee brokerage, portfolio reporting, market research and access to Australian, US and Hong Kong securities.

Advantages and Disadvantages

Stake: US Market Specialist

Stake specializes in US market access for Australian investors with competitive pricing. Best for those looking for a simple investing platform with CHESS.

Stake Fee Structure

• US shares: US$3 per trade up to $30,000, or 0.01%
• Australian shares: $3 AUD per trade (under $30,000 trade value)
• Large trades: 0.01% for trades over $30,000
• Currency conversion: 0.70% on AUD to USD conversions, US$2minimum
• No platform fees
• No inactivity fees

Key Features

CHESS-sponsored Australian shares, US fractional shares, real-time market access and a straightforward mobile interface.

Advantages and Disadvantages

Cheapest Stock Brokers: Trading Cost Comparison

The following comparison illustrates standard brokerage for selected trade sizes. It excludes currency conversion, pass-through fees and other incidental costs. eToro just about comes out cheapest for ASX trades, with the US$2 standard coming out at ~A$2.85 based on the exchange rate at the end of October. Moomoo run them a close second.

CMC Invest are another alternative that comes in strong for qualifying first buys, but for a $10,000 trade size, they come out as the most expensive. Betashares direct are strong for supported instruments, but there are a lot more limitations over what you can invest in.

What Else To Consider Before Choosing A Broker

CHESS Sponsorship vs Custodial

A CHESS-sponsored broker registers ASX shares under your own Holder Identification Number (HIN), whereas a custodial structure appoints a nominee or custodian to holds legal title to the shares, whilst you hold beneficial ownership.

Neither structure guarantees that an investment will perform well of course, but it is important to understand the difference between the two, and what it means for custody, shareholder voting, transfers and corporate actions.

Regulatory Protection

All brokers featured on this list operate under Australian financial regulations, providing investor protection through:

• Australian Securities and Investments Commission (ASIC) oversight
• Compensation schemes for eligible investors
• Segregated client funds

The ASX National Guarantee Fund may provide compensation for certain eligible losses in specific circumstances but tt does not compensate ordinary market losses or losses caused by poor investment decisions.

Account Minimums

Most brokers have eliminated minimum deposit requirements, making them accessible to investors with limited capital. But a zero-dollar account opening minimum doesn’t mean you can buy any ASX stock with any amount.

There is a A$500 minimum purchase requirement for CHESS-sponsored investments, whereas under custodial and fractional investing, the minimum is usually much lower.

Customer Support

Consider the availability and quality of customer support, especially if you’re new to trading or require assistance with complex transactions. Customer service access, tax reporting, research tools, order types and the ability to transfer existing holdings should all be considered alongside brokerage.

Conclusion: Who is the cheapest broker in Australia?

There isn’t one single cheapest brokers in Australia, but there are those that are cheapest at certain things.

For low-cost CHESS-sponsored Australian share trading, Stake and Moomoo are competitive at A$3 per trade for smaller transactions, whilst CMC Invest can be cheaper for qualifying small purchases. Interactive Brokers suits serious traders requiring comprehensive market access and advanced tools. eToro appeals to social investors interested in copy trading features, with a custodial structure that allows you buy fractional shares less than the minimum CHESS sponsored level of $500.

The right broker depends on how much you trade, which markets you invest in, how your shares are held and the total costs of buying, holding and selling your investments.