Cheapest Stock Brokers in November

Investing in shares usually means getting a broker or brokerage platform that can make trades on your behalf. However, getting a platform that’s low on fees and commissions can make a big difference in the long run. That’s because most growth in shares or dividend reinvestment plans happens over the long term. 

Brokerage can come with a number of fees like account keeping charges, cost of the transaction, and—if trading international shares—FX conversion fees. 

What’s involved in brokerage fees 

There are two things to keep in mind when looking at brokerage fees, involving the type you’ll pay and the range. 

• Fee types: generally, you’ll see fees for both small and large brokerage trades. You may also find that some brokerage platforms charge monthly account-keeping fees. 
• Typical Fee Range: Small brokerage fees will usually involve a flat payment under a certain amount (e.g. $4 for orders under $10,000) while large brokerage fees are typically percentage amounts (e.g. 0.2% for trades over $10,000).  

Commission-Free Trading in Australia

In the Mozo database, only a few online brokerage platforms listed have $0 or 0.00% in small and large brokerage fees. 

$0 Small Trade Brokerage: 

• CMC Markets (standard)
• eToro (ASX shares)
• Superhero (US shares—fx fee applies)

0% Large Trade Brokerage: 

• eToro (ASX shares)
• Superhero (US shares—fx fee applies)

Analog or digital? Old or New? Both have their advantages and disadvantages and are dependent on the investor preferences. Before deciding how you’ll invest, keep in mind what your goals are as they can affect which kind of brokerage will be appropriate for you.

Traditional brokerage

Also known as full-service brokerage, this is the original way of doing it before the Internet (although many of these firms are using the Internet now for services). The difference with online brokerage is that you can get a personalised service, as full-service brokers can offer advice on buying and selling as well as recommendations and tailored investment plans. However, as a consequence, they tend to have much higher fees than online brokerage. 

Online brokerage

Online brokerage platforms have increasingly become the standard for a range of investors from casual to the most active traders. With online brokerage, an investor can place buy and sell orders from the convenience of their phone. However, inexperienced investors may find themselves confused without a proper financial plan.

Utilising a comparison site like Mozo can be a helpful tool when selecting share trading platforms. By seeing the kinds of fees and options available, you’ll be able to get a good idea of the kinds of trading platforms that you’re looking for in your situation. 

You can check out share trading platforms and any sponsered deals on our main hub page or have a look at some of the providers below.