Australian Brokers

The first decision every investor makes is choosing their broker. This page covers everything you need to know about your options and features some recommendations based on different types of investors.

On this page we cover the following topics:

  • Definition: What is a broker?
  • Different types of brokers
  • All the details you need to know
  • Recommendations for different investors

What is a broker?

A person or company that buys and sells shares on your behalf. As retail investors, when we want to buy shares we do not contact someone that owns the shares and make a deal with them. Instead we place an order through an intermediary, who then execute the order on our behalf. This intermediary is called a broker.

There are a variety of different types of brokers that we outline on this page. Whichever type you choose, they all take your order to buy or sell shares and then match that order with someone looking to take the other side of your trade (i.e. sell shares to you, or buy shares off you).

The different types of brokers

Full service

Are part-broker, part-advisor. They are most hands on, but also most expensive option.

Online only

Focused on making accessing the share market easy and at the lowest possible cost.


Offered by all major banks, they are the middle ground offering good service and resources but with a little more cost than online only brokers.


Designed for beginner investors, these brokers allow people to invest with just a few dollars.

All the details you need to know

PlatformBrokerage & feesMinimum investmentMarketsResearchKey featuresWatch out for…
Commbank$10.00 (Up to and including $1,000)
$19.95 (Over $1,000 up to $10,000 (inclusive))
$29.95 (Over $10,000 up to $25,000 (inclusive))

North America
USD $19.95 up to $5000USD

USD $39.95 or 0.4% + stamp duty 50bps
$500Aus & 25 internationalYes – investment banks; MorningstarOptions, warrants, margin Loans, fixed Income
Conditional orders
Trade without settlement
Must settle in CDIA for broker rates
Westpac$19.95 or 0.11%

North America
USD $19.95 for trades up to USD $5,000

USD$57.95 or 0.65%, whichever is greater

USD$115.00 or 0.90%, whichever is greater
$500Aus & 25 internationalYes – investment banks; Morningstar

Advanced Research packages available
Options, warrants, margin loans, fixed income, advanced chartingMust have Westpac cash investment account.
Crazy account keeping fees for inactivity on intl
NAB$14.95 up to $5000
$19.95 $5000 – $20,000

$14.95 up to $5000
$500Aus & 25 internationalYes – investment banks; MorningstarmFunds, options, warrants margin Loans, fixed income, advanced charting
Subscriptions – premium charting, alerts
IRESS Trader integration
Bank Of Melbourne – Directshares1st Trade $19.95 up to $5000
2nd trade $19.95 up to $18,000
$500Aus & internationalYes – investment banks; MorningstarFree alerts
Suncorp Share Trade$21.95 up to $10,000

$24.95 up to $5000

$69 or 0.69%

Foreign Exchange 0.6%
$500Aus & 11 marketsWith Suncorp Share Trading, you will have access to Dow Jones newswires, Morningstar and ASX Company announcements.mFunds, warrants
$41.25/month – dynmaic data
Custody fees
IG3+ (previous month) $5
0-2 trades $8

Free (instant currency conversion)

Forex 0.7% spread

$50 subscription fee, quarterly
$500Aus, US, UK, Germany, IrelandYes – Facebook, Twitter, Instagram; Reiuters, In-house analystsAward winning trading platformCFDs!
CMCLess than 11 trades oer month $11 or 0.1%
11-30 trades $9.90 or 0.8%

International (US, Canada)
$19.95 $0-$5000
$29.95 $5000-$10,000

$500Aus & InternationalYesFrequent trader program, shares, options, mFunds, CFDsCFDs!
Bell DirectFirst 10 trades p/m $15 up to $10,000

$10 live data p/m (free after 5 trades per month)
WebIRESS $79 p/m
$500ASX onlyBroker researchDaily trading ideas, advanced charting, free conditional orders, mFunds, exchange traded bonds, interest rate securities
Saxo MarketsCustodian $6.99
CHESS $14.90

US USD $9.90

0.12% custody fee
FX 0.3%
36 exchanges
SelfWealth$9.50$500AustraliaNoSocial platform – follow other investors; align portfolios; see where you rank
It’s listed!
Stake0% brokerage

$0 month – unlimited free trades (market orders only)
$9 month – free trades; advanced orders;
$19 month – trade on unsettled; analyst level data ($30k portolfio)

First funding: $5 to complete W-*Ben
FX – 0.7%
2% fund with card
$10USNoFractional shares
News feed
eToro0% commission – US
Other stocks are offered as derivatives and bear commission
$50US markets – 0% commission (aussie investors)
International markets
News & analysisFractional shares, social platform, follow traders, copycat portfoliosLeverage
Vanguard Personal InvestorPay $0 brokerage on Vanguard’s ASX-listed ETFs and $19.95 or 0.15% (GST inclusive), whichever is greater, on other ASX transactions.

Account Fee:
0.20% p.a. capped at $600 p.a. per account

Interest Rate Charge:
0.50% p.a.1 of the balance of your Cash Account
$5000 managed funds, then no minimum

$500 ETFS
CommSec Pocket$2 up $1000
0.20% above $1000
$50Mixed expsoure through ETFsNo7 options to choose: Aussie200, Aussie Dividends, Global 100, Emerging Markets, Health Wise, Sustainability, Tech Savvy– ETFs only
– Watch out for brokerage as a percentage
Raiz$2.50 per month less than $10,000$5
Spaceship$0 on $0-$5000
0.1% above $5000 (spaceship universe portfolio)