The cheapest stock brokers in Australia April 2025

The cheapest share trading platforms in the market offer free brokerage, low foreign exchange fees and no ongoing account fees.

Saving money on brokerage fees can be an important way to get ahead when investing. Not only can high fees erode some of your returns, it also means you can invest less money.

Cheapest share trading platforms: Our picks

According to Finder's latest analysis of brokerage fees, inactivity fees and foreign exchange fees, the cheapest brokers in Australia are:

  1. CMC Invest
  2. Superhero
  3. eToro
  4. Tiger Brokers
  5. moomoo
  6. Stake
  7. IG

CMC Invest was rated our best low-cost broker in Finder's latest Share Trading Awards because of its $0 brokerage offer, whether you're an active or passive trader of global or local stocks.

In terms of the cheapest CHESS-sponsored trades, CMC offers $0 brokerage for ASX buy orders of $1,000 or less (per equity, per day), Tiger Brokers now offers $3 brokerage and Stake and moomoo are also competitive at $3 per trade.

If you don't care about CHESS-sponsored brokers, Betashares Direct now offers $0 brokerage on certain ASX stocks, Superhero charges $2 brokerage on trades, while eToro offers US$2 brokerage.

When it comes to trading global and US stocks and ETFs, there are several brokers in Australia with a $0 brokerage offering on some international stocks, including CMC Invest, IG, Bendigo Invest Direct and Webull. moomoo charge US$0.99 for US trades, and contract fees from US$0.50 on US options contracts.

However, $0 brokerage may only apply to certain global markets and you'll also need to pay a currency conversion fee when trading global shares from Australia. For example, CMC Invest charge no brokerage on US, Canadian, Japanese and UK stocks but charge $59 brokerage on other global stocks, and you'll need to pay a conversion fee on every buy and sell.

You should always confirm the total cost to trade a certain global stock on the platform before submitting your order.

Meanwhile, for Australian ETFs, Webull, Superhero, Betashares Direct and Vanguard offer the lowest fees, charging a flat $0 brokerage fee on some or all ETF investments (buy orders only).

Compare online brokers to find the best deal

Product Price per trade Inactivity fee Asset class International Offer
eToro logo
US$2
US$10 per month if there’s been no log-in for 12 months
ASX shares, Global shares, US shares, ETFs
Yes
Tiger Brokers
Finder AwardExclusive
Tiger Brokers logo
US$2
$0
ASX shares, Global shares, Options trading, US shares, ETFs
Yes
Get 4 brokerage-free trades and pay no FX fees on the first $2,000 you exchange each month + plus get an $80 cash voucher when you deposit up to $2000. T&Cs apply.
CMC Invest
Finder Award
CMC Invest logo
$0
$0
ASX shares, Global shares, Options trading, US shares, ETFs
Yes
Moomoo logo
US$0.99
$0
ASX shares, Global shares, Options trading, US shares, ETFs
Yes
Unlock up to AUD$4,000 and US$4,000 in $0 brokerage over 60 days.
Superhero logo
$2
$0
ASX shares, US shares, ETFs
Yes
Sign up with code ‘finder25’ and get US$10 of Nvidia stock when you fund your account with $100 or more within 30 days. T&Cs apply.
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Important: The standard brokerage fee displayed is the trade cost for new customers to purchase $1,000 of either Australian or US shares. Where a platform charges different fees for both US and Australian shares we show the lower of the two. Where both CHESS sponsored and custodian shares are offered, we display the cheapest option.

Australia's cheapest online stock brokers

eToro logo
4/5 ★★★★★
Go to site Read review
Capital at risk
Copy trading
Social media forums
Demo account available
eToro was the first trading platform to offer unconditional $0 brokerage ASX stock trades, but now charges a still-competitive US$2 fee on all stock trades, including US, ASX and European stocks. This makes it a good choice if you're looking for a low-cost broker that covers lots of markets.
  • US$2 brokerage on ASX and global stock trades
  • Easy-to-use platform
  • Plenty of tools to try out
  • Inactivity fee of $10 a month if you don't log in for 12 months
  • No ASX ETFs available
  • $5 withdrawal fee
  • Offers CFDs which can be risky
Brokerage fees:
AU stocks: US$2
US stock: US$2
UK stocks: US$2

ETF brokerage fees:
AU stocks: Not available
US stock: $0
UK stocks: $0

Inactivity fee: US$10 per month if you don't log in for 12 months or more

Currency conversion fee: 1.50% of trade value

Superhero share trading logo
4/5 ★★★★★
Go to site Read review
Capital at risk
$2 fee per trade
$10 minimum trade
No monthly fees
Superhero allows you to trade US markets for US$2 brokerage and $2 for Australian markets. Key points are: You can start investing from $10, it offers US and ASX trading from $2 brokerage up to $20,000 and it has no monthly account-keeping or inactivity fees.
  • Low brokerage on ASX and US stocks
  • Lets you start trading from $10
  • $2 brokerage fees on ETF purchases
  • Only lets you trade the US and Australian markets
  • Few trading tools
  • Too basic for advanced traders
Brokerage fees:
AU stocks: $2 for trades up to $20,000, 0.01% for trades over $20,000
US stocks: US$2
UK stocks: Not available

ETF brokerage fees:
AU ETFs: $2 for trades up to $20,000, 0.01% for trades over $20,000
US ETFs: US$2

Inactivity fee: $0

Currency conversion fee: 65 bps

Tiger Brokers logo
4/5 ★★★★★
Go to site Read review
Capital at risk
Cheaply invest in US, HK and AU shares
Easy access to international trading
Low-cost options trading
Since August 2024, Tiger Brokers has become one of the most competitive brokers around for ASX and US trades, along with a range of additional features like free market data, trading tools and even an AI assistant. It charges $3 brokerage for ASX (Chess-sponsored trades) and US$2 per trade for US equities.
  • $3 brokerage on CHESS-sponsored ASX trades
  • US$2 brokerage on US trades
  • No inactivity fees
  • Only 3 markets available
Brokerage fees:
AU stocks: $3 per trade up to $10,000, 0.03% of trade amount after that
US stocks: US$2 for trades of up to 200 shares, US$0.01 per stock after that
UK stocks: Not available
Other markets available: Details here

ETF brokerage fees:
AU stocks: $3 per trade
US stocks: US$2
UK stocks: Not available
Other markets available: Details here

Options:
ASX: Not available
US: Fixed Brokerage Plan
• US$3 for up to 4 contracts
• US$0.75 per contract for 5 or more contracts

Tiered Brokerage Plan (Monthly Contract Volume)
• US$0.90 per contract for the first 50 contracts
• US$0.75 per contract for the 51st–100th contract
• US$0.55 per contract for the 101st–300th contract
• US$0.50 per contract for the 301st–500th contract
• US$0.45 per contract for the 501st–1,000th contract
• US$0.40 per contract for the 1,001st–10,000th contract
• US$0.35 per contract for the 10,001st–50,000th contract
• US$0.25 per contract for the 50,001st–100,000th contract
• US$0.15 per contract for 100,001 or more contracts

Inactivity fee: $0

Currency conversion fee: 55 pips

CMC Invest logo
5/5 ★★★★★
Go to site Read review
Capital at risk
$0 brokerage for global stocks
$0 brokerage on ASX buy orders
Sophisticated research tools
CMC Invest was the winner of our latest award for best low-cost broker because of its competitive fees on Australian and global shares. When trading $1,000 or less on the ASX, CMC is the cheapest CHESS-sponsored broker, with $0 commission trades. It's worth noting that this rate only applies to 1 buy order, per equity, per day; You pay $11 (or 0.11%, whichever is higher) on subsequent trades and any sell orders.
  • $0 brokerage fees on ASX purchases under $1,000
  • $0 brokerage on US, Canadian, Japanese and UK stocks
  • High-quality research tools
  • CHESS-sponsored ASX stocks
  • Only 4 global markets are commission-free to trade, others cost $59.95 in brokerage
  • ASX stock brokerage not the cheapest out there
Brokerage fees:
AU stocks: $0 brokerage (for buy orders up to $1,000) and $11 or 0.10% (whichever is greater) for all other buy and sell orders.
US stocks: US$0
UK stocks: £0

ETF brokerage fees:
AU ETFs: $0 brokerage for trades up to $1,000 (applied to the first buy order per ETF per day). $11 fee for trades up to $10,000. $15 fee for trades equal to or greater than $15,000.
US ETFs: US$0

Options:
ASX: $33/contract
US: Not available
Other markets available: Details here

Inactivity fee: $0

Currency conversion fee: 0.60% of trade value

Moomoo Share Trading logo
4/5 ★★★★★
Compare Read review
Capital at risk
AI-powered charts
Trade ASX, US and HK stocks
Advanced trading tools
moomoo offers competitive brokerage across both ASX and US stocks and ETFs, as well as US options contract fees from US$0.50 per contract. It charges $3 per trade for ASX (Chess-sponsored) stocks and US$0.99 for US stocks.
  • Low brokerage fees
  • US options
  • CHESS-sponsored
  • Only ASX, US and Hong Kong markets available
Brokerage fees:
AU stocks: $3 or 0.03% of transaction value (GST inclusive), whichever value is larger
US stocks: US$0.99
UK stocks: Not available

ETF brokerage fees:
AU ETFs: $3 or 0.03% of transaction value (GST inclusive), whichever value is larger
US ETFs: $0.99

Inactivity fee: $0

Currency conversion fee: 55 pips or 0.0055 AUD/USD

Stake Share Trading logo
4/5 ★★★★★
Compare Read review
Capital at risk
$3 brokerage fee per trade
No monthly fees for basic account
Buy and sell US stocks and ETFs
Stake offers some of the lowest CHESS-sponsored ASX trades on the market at $3 in brokerage per trade. While its US trade fees are no longer the lowest out there at US$3 commission per trade, it remains one of Australia's cheapest brokers.
  • $3 brokerage on US trades
  • $3 CHESS-sponsored ASX trades
  • No inactivity fees
  • Limited features
  • You have to pay more for Stake Black
  • Only 2 markets available
Brokerage fees:
AU stocks: $3 (Up to and including $30,000); 0.01% (Over $30,000)
US stocks: US$3 (Up to and including $30,000); 0.01% (Over $30,000)
Other markets: Details here

ETF brokerage fees:
AU ETFs: $3
US ETFs: US$3

Inactivity fee: $0

Currency conversion fee: 70 pips (US$0.70 for every AUD$100 exchanged)

IG Share Trading logo
5/5 ★★★★★
Compare Read review
Capital at risk
Practice with $20K virtual money
Access to educational content hub
Trade shares, forex & commodities
IG ranks high due to its cheap brokerage, low platform fees and low inactivity fees. Along with high-quality trading tools and a range of global markets, this makes IG a great all-round trading platform.
  • Brokerage for ASX stocks from $5
  • $0 brokerage for US and global stock trades
  • Low currency conversion fee
  • No inactivity fee
  • ASX brokerage jumps to $8 if you make less than 3 trades a month
  • Appeals more to active traders than casual or new investors
  • Fewer global markets than some other brokers
Brokerage fee per trade:
AU stocks: $5 or 0.05% if you make 3 or more trades in the previous month. $8 or 0.1% of your trade (whichever is higher)
US stocks: US$0
UK stocks: £0
Other markets available: Details here

ETF brokerage fees:
AU ETFs: $5 or 0.05% if you make 3 or more trades in the previous month. $8 or 0.1% of your trade (whichever is higher)
US ETFs: US$0
UK ETFs: £0
Other markets available: Details here

Inactivity fee: if you make fewer than 3 trades during that time.

Currency conversion fee: 0.70% of trade value

Methodology: How do we rate Australia's cheapest brokers?

We compared the fees charged by 40 online share trading platforms in Finder's latest Awards and Best Investment Platform update. As part of our analysis, we ranked trading platforms based on:

  • Brokerage fees to trade ASX stocks
  • Brokerage fees to trade US stocks
  • Brokerage fees to trade UK stocks
  • Brokerage fees for Australian ETFs
  • Foreign exchange fees to trade global stocks
  • Inactivity fees
  • Custody fees

For more information about our methodology, head to our share trading platform ratings page. Bear in mind that the brokers displayed on this page may not always be best for you and we encourage you to do your own research.

Chris Brycki's headshot
Expert insight

"Fees play a critical role in determining an investment's long-term returns. High fees, like those associated with actively managed funds, will eat into an investor's profits and erode the value of their portfolio over time. Most investors should just focus on low-cost, passive investment strategies, such as index funds or ETFs, that offer broad market exposure at a fraction of the cost of actively managed funds."

Chris Brycki
Founder, Stockspot

What are brokerage fees?

A brokerage fee (also called commission) is what your stockbroker charges whenever you buy or sell a share.

Basically, you'll need to pay a specific amount to the broker in return for using its service.

This fee is based on the size or value of the trade. It could be a flat fee or an amount calculated as a percentage of the transaction value. The fee is charged both when you buy and sell a share.

Brokerage fees are one of the largest expenses associated with online share trading and can have a big impact on the affordability of your investments.

If you're a frequent trader and you're paying a brokerage fee of $30 every time you buy or sell a parcel of shares, this can quickly add up to a substantial amount and eat away at your trading profits.

That's why it's essential for anyone thinking of getting started in the share market to compare brokerage fees charged by online share trading platforms and shop around for the cheapest option.

Icon to represent comparison of share trading
Did you know?
You could save $1,046 a year on average in brokerage fees by switching to a more suitable online broker, according to Finder research. You might even save money by having more than one platform, especially if you are investing both in Australia and internationally.

How much will you need to pay for stock brokerage?

Brokerage fees are far from identical from one provider to the next, so comparing fees is important.

Brokerage can range from $0 to around $60 per trade for online share trading platforms.

Full-service brokers such as Morgans or Morgan Stanley start fees at around $80 per trade, usually charged as a percentage of the amount being traded.

Some providers have simple fee structures and others have quite complex arrangements. Brokers calculate fees using the size or value of the trade, how often you trade and in which country the stocks are listed.

Different brokerage fees often apply to phone trades and other unique trading options, so it's worth reading the fine print to find out how much extra it will cost every time you make a trade.

Free trading platforms in Australia*

While share trading platforms haven't reached the lows of some other countries, there is an emergence of "free" brokerage offers in Australia. However, although you don't need to pay a commission, this doesn't mean they're free.

Instead, you're typically charged a foreign exchange fee (global stocks only) to convert Australian dollars to the required global currency. Other fees you could be charged include account maintenance fees, account top-up fees, inactivity fees or fees to trade other types of products on the platform.

Here's our list of "free" trading platforms at the time of writing:

*Free in this case refers to brokerage or commission fees (T&Cs apply).

Trading platform deals for Apr 2025 (T&Cs apply)

Platform
Deal information
End date
moomoo
Finder exclusive: Finder exclusive: Unlock up to AUD$4,000 AND US$4,000 in $0 brokerage over 60 days. T&Cs apply.
28 April 2025, 8:00 p.m.
Tiger Brokers
Finder exclusive: Get 4 brokerage-free trades and pay no FX fees on the first $2,000 you exchange each month + plus get an $80 cash voucher when you deposit up to $2,000. T&Cs apply.
Ongoing
Superhero
Finder exclusive: Sign up with code ‘finder24’ and get US$10 of Nvidia stock when you fund your account with $100 or more within 30 days. T&Cs apply.
Ongoing
Syfe
Finder exclusive: All Finder customers get a $60 cash credit when they sign up to Syfe, deposit minimum $1,000 and use code FINDER60 (T&Cs apply).
Ongoing
nabtrade
Sign up with a nabtrade account using the promo code PROF1000 and get up to $1,000 in free brokerage.
Ongoing
Stake
Refer a friend to Stake and get $1 off your brokerage fees for 12 months. Refer 3 friends and pay $0 brokerage fees.
Ongoing
Saxo Invested Options Trading
Refer a friend to Saxo and receive up to $500 in rewards. If you reward a customer who initially funds between $3,000 and 300,000 you will get $100, if they fund their account with $300,000 to 1.5 million you’ll get $200 and if they deposit $1.5 million or more you’ll get $500.
Ongoing

Tips for finding the cheapest share trading platform

If you're looking to find the cheapest share trading platform there are a few things you'll need to consider. Of course, it all comes down to how you're intending to use it.

Here are some of the key features to look at when comparing online share trading platforms:

  • Fees. Almost every platform will charge you a brokerage fee (also called a commission fee) when you transact. Generally, the lower the fee if it fits your needs the better.
  • Other fees. Some will also charge you additional fees such as monthly fees or inactivity fees. To see more about fees click here.
  • What can you trade? There's no point saving on fees if you're missing out on investing where you want. Some trading platforms will let you invest in multiple countries, others just Australia. There are also trade currencies, indices, cryptocurrencies and much more to consider. Find a broker that matches your needs.
  • Ease of use. Again saving money isn't useful if the app is difficult to use. You should look for a platform that allows you to make fast and precise trades with minimum fuss.
  • Access to data. Does the platform offer dynamic, real-time or delayed market updates? Some platforms offer research and broker analysis on individual stocks that can come in handy.
  • Order types. Can you place orders at market and/or at limit? Are other order types such as stop/loss orders an option to add more flexibility to your trading? These should be considered when choosing a broker.
  • Reporting. Check the reporting tools on each platform to help you track how your trades are performing, record dividends and pass on any relevant information to the Australian Taxation Office (ATO) at tax time.
  • Customer support. Look for phone, email and live online chat support. Does it offer customer service 24/7 if you're having trouble placing a trade?
  • Education. Some platforms also feature a range of educational tools and resources, such as how-to guides and webinars, to help you get more out of your trading account. If you haven't got access to the education you need through your broker it can become an additional cost, so keep that in mind.

Frequently asked questions

Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involve substantial risk of loss and therefore are not appropriate for all investors. Past performance is not an indication of future results. Consider your own circumstances and obtain your own advice before making any trades.
Jason Loewenthal's headshot
To make sure you get accurate and helpful information, this guide has been edited by Jason Loewenthal as part of our fact-checking process.
Kylie Purcell's headshot
Written by

Investments Analyst

Kylie Purcell is an experienced investments analyst and finance journalist with over a decade of expertise in a wide range of financial products, including online trading platforms, robo-advisors, stocks, ETFs and cryptocurrencies. She is a sought-after commentator and regularly shares her insights on the AFR, Yahoo Finance, The Motley Fool, SBS and News.com.au. Kylie hosts the Investment Finder video series and actively contributes to the investment community as a judge and panellist. She holds a Master of Arts in International Journalism, a Graduate Diploma in Economics, and ASIC-recognised certifications in securities and managed investments. See full bio

Kylie's expertise
Kylie has written 146 Finder guides across topics including:
  • Investment strategies
  • Financial platforms
  • Stockbrokers
  • Robo advisors
  • Exchange traded funds (ETFs)
  • Ethical investing
  • ASX stocks
  • Stock and forex markets
Thomas Stelzer's headshot
Co-written by

Journalist

Tom Stelzer is a journalist with 6 years of experience covering personal finance, specialising in investment and cryptocurrency. With a Master of Media Arts and Production and a Bachelor of Communications in Journalism from the University of Technology Sydney, Tom provides expert analysis on digital assets and market trends, helping readers navigate the fast-evolving world of finance. See full bio

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12 Responses

    Default Gravatar
    GregMarch 22, 2025

    Do they all charge brokerage on sell orders? If so, should that be included? I’ve found some of them charge a lot more than the buy brokerage to sell a security?

      AvatarFinder
      KylieMarch 26, 2025Finder

      Hi Greg,
      Yes typically online trading platforms charge brokerage on sell orders – although this is usually the same cost as the brokerage fee to ‘buy’ equities. CMC Invest is one unusual case where it offers $0 brokerage on ASX buy orders (up to $1,000), but charges a fee ($11+) on sell orders. You make a great point though that if this fee is different, we should be highlighting that. We’ll look to review our products and update this where needed.
      Thanks

    Default Gravatar
    CateJuly 11, 2023

    I’m trying to compare ways/costs of selling deceased estate shares, is this something you have looked into ?

      AvatarFinder
      KylieJuly 14, 2023Finder

      Hi Cate,
      Selling inherited shares can be complicated and depending on the circumstances you may want to speak to a financial advisor. However, if you’re looking for some general information, you can read our guide to selling shares: https://www.finder.com.au/share-trading/how-to-sell-shares. In most circumstances, the shares will be registered with a share registry such as Computershare and you can contact them to discuss the sale or transfer of your shares to another broker. You can check which registry by searching for the stock on the ASX website and scrolling down to the ‘Share registry’ section.
      Good luck.

    Default Gravatar
    DaveJuly 10, 2019

    Your info on IG about fees is slightly incorrect. You quote 0 monthly fees however you should also advise potential customers that IG now charge $50 a quarter if you make no trades.

      Default GravatarFinder
      JoshuaJuly 11, 2019Finder

      Hi Dave,

      Thanks for getting in touch with Finder.

      I’m sorry to hear about your experience with IG. Upon checking, I have confirmed that there’s a $50 subscription fee that you need to pay quarterly depending on your trading activity during the same quarter.

      However, you can easily be exempted from the charge, if you do deal at least three times using your share trading or CFD accounts during the same quarter. Alternatively, if you hold no open positions in your share trading account at the end of the quarter, then you won’t get charged as well.

      You may know more about IG by getting in touch with them or reviewing your terms and conditions.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!

      Cheers,
      Joshua

    Default Gravatar
    ThereseFebruary 7, 2019

    Can I start in share market with a small budget of AU$10000 and which broker would accept me?

      Default GravatarFinder
      JoshuaFebruary 17, 2019Finder

      Hi Therese,

      Thanks for getting in touch with Finder. I hope all is well with you. :)

      Yes, you can start trading with that budget. In most cases, you only need about $500 to start share trading.

      Regarding your second question, the right broker for you is the one that meets your preferences, needs, and budget. You can choose a broker based on your trading knowledge and experience, the markets you can access, the fees involved, trading sources, and customer service. You can learn more about this from our guide to open a share trading account. On that page, you will how to open a share trading account and other helpful tips. It’s a good guide to read for beginners.

      I hope this helps. Should you have further questions, please don’t hesitate to reach out again.

      Have a wonderful day!

      Cheers,
      Joshua

    Default Gravatar
    JimiAugust 28, 2018

    As a small investor with an vestment less than (10k) ,What is the cheapest platform to buy stock and hold them for 3 years?

    Most platform overhear will have a quarterly $50 dollar inactivity fee , in addition to the Broker fee ( IG is one example )!

      Default GravatarFinder
      JoshuaAugust 29, 2018Finder

      Hi Jimi,

      Thanks for getting in touch with finder. I hope all is well with you. :)

      Generally, most share trading platforms come with inactivity fees. This encourages users to stay actively using their account or motivate them to close their account instead of taking up the platform’s resources.

      While we don’t have a page that specifically lists share trading platforms that don’t charge inactivity, you may still check our list on this page. You will find inexpensive stock trading platforms that might be able to meet your needs. Click on the “Go to site” green button of your desired provider and it should redirect you to their site. From there, you can know more about whether they charge inactivity or not.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!

      Cheers,
      Joshua

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