Comparing Australian investing brokers

There is no single best broker

There’s no broker that suits everyone. If you’re buying A$200 of Australian ETFs every payday, fees might matter differently than if you’re buying overseas shares once a year. Compare the services based on how you’d actually use them.

Names to research

Examples of Australian-market platforms include CMC Invest, Stake, Pearler and CommSec. Their structures and terms change, so the names here are a research list, not rankings or endorsements. Make sure you are comparing the specific account and product type you would use.

CMC as a worked example

CMC advertises $0 brokerage on eligible first buy orders under A$1,000 per security per day for certain Australian securities, with conditions. That does not mean all trading is free: subsequent orders, sells or other markets may cost money. Always check the live pricing page, full terms and trade scenario.

What to compare side by side

• Brokerage for a A$500 and A$2,000 Australian ETF buy, plus a sell
• CHESS sponsorship or custodian arrangements
• FX conversion and international-market charges
• Recurring investment functions and minimum orders
• Account transfers, service, and any ongoing fees

Compare the same trade, not just two headlines

Say you plan to buy A$200 of an Australian-listed ETF each fortnight. A broker charging A$3 per purchase would take 1.5% of each A$200 purchase before other costs. A broker offering eligible fee-free buys might look better for that particular activity, but you still need to check its conditions, selling costs, ownership model and whether the product you want is available.

If you later buy US-listed shares, foreign exchange conversion and international brokerage can matter more than the local ASX fee. That's why the cheapest broker for one person isn't necessarily cheapest for another.

A five-minute broker shortlist

1. Write down whether you'll buy ASX-listed ETFs, individual Australian shares or overseas products.
2. Estimate your usual trade size and how often you'd buy or sell.
3. Compare buying, selling, foreign exchange, account and transfer charges using current provider price lists.
4. Check whether holdings are CHESS-sponsored or held through a custodian, and understand the difference.
5. Look at account security, support and how you'd move your holdings if you changed platforms.

Our trading-frequency calculator can help you see what flat fees would mean for your own example. A platform is a tool for buying investments, not the investment itself.