What is the cheapest broker in Australia?
For ASX shares, Superhero charges the lowest flat fee at $2 per trade, making it the cheapest option for trades under $2,500. For larger trades, percentage-based fees at IBKR ($6 min / 0.08%) often work out cheaper.
For US shares, Stake and eToro both offer $0 commission, though they recover costs through currency conversion spreads (typically 0.5–0.7%).
For ETF investors who don't trade frequently, Vanguard's personal investor platform charges $0 brokerage on Vanguard ETFs — making it effectively free for buy-and-hold strategies.
How much does CommSec charge per trade?
CommSec charges $10 for trades up to $1,000, $19.95 for trades between $1,000–$10,000, and 0.12% (min $19.95) for trades above $10,000.
Are eToro fees good for Australians?
eToro charges $0 commission on US stocks but applies a 0.5% currency conversion fee and a $5 withdrawal fee. For long-term investors buying US stocks, it's competitive. For active traders, the conversion fees accumulate.
Is Stake safe in Australia?
Yes. Stake is regulated by ASIC (AFS Licence 548266) and holds client funds in segregated accounts with Macquarie Bank. US shares are held via DriveWealth, protected by SIPC up to USD $500,000.
Online trading platform comparison — key factors
When comparing trading platforms in Australia, fees are just one part of the equation. Here's what actually matters:
Brokerage fees
The per-trade cost. Flat fees (like Superhero's $2) favour small traders; percentage fees favour large trades. Use our calculator above to see which is cheaper for your trade size.
Currency conversion
Often invisible but significant. When buying US shares, you convert AUD → USD. Stake charges 0.5%, eToro 0.5%, IBKR as low as 0.002%. On a $10,000 trade that's $50 vs $0.20.
CHESS sponsorship
CHESS-sponsored brokers (CommSec, Selfwealth, Superhero, Pearler) hold shares in your name on the ASX register. Custodial brokers (Stake, eToro) hold shares on your behalf. Both are legal and safe but CHESS gives you direct ownership.
Inactivity fees
eToro charges $10/month after 12 months of inactivity. Most other platforms have no inactivity fee. Worth checking if you invest sporadically.
Available markets
Stake and eToro offer US + ASX. IBKR gives access to 160+ global markets. CommSec and Superhero focus on ASX. Match your market needs to the platform.