Cheapest stock brokers in Australia

By Brad Buzzard and Peter Terlato
Fact Checked
Advertiser disclosure
man trading shares online

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Want the most affordable way to start trading shares? We've reviewed more than 70 products from over 30 online brokers in the Mozo database and found these to be the cheapest options.

Australia’s cheapest online stock brokers

In the tables below, we've consulted the Mozo database to rank share trading apps that offer trades on the ASX and do not charge monthly fees. We then categorised them based on their cost-effectiveness for either small or large trades.

One important feature to note is CHESS sponsorship. When a broker offers this, it means your shares are held directly in your name on the ASX’s official register with your own Holder Identification Number (HIN). The primary advantages are direct legal ownership and easier administration, like transferring your portfolio to another broker. On some platforms, this may be an optional feature you can choose.

Cheapest share trading platforms for small trades*

Company Small trade fee CHESS ownership available?
CMC Invest
 $0 for first buy order up to $1,000 per day. Subsequent trades and sell orders are $11 or 0.11% (whichever is higher).
 Yes
CommSec
 $5 brokerage for trades up to $1,000.
 Yes
Superhero
 $2 for trades up to $20,000 on ASX shares.
 No
Tiger Brokers
 $3 on trades less than $10,000 then 3% over $10,000. 
 Yes
IG
 $0 for ASX stocks.
 No
moomoo
 $3 or 0.03% fee for Australian trades (whichever is greater).
 Yes
eToro
 US$2 for ASX shares (plus any foreign currency conversion fees).
 No

*Source: Mozo database. Data accurate as at 10 September, 2025. Fees are subject to change. Always check the broker's official website for the most current pricing, terms and conditions.

Cheapest share trading platforms for large trades*

Company Large trade fee CHESS ownership available?
CMC Invest
 The greater of $11 or 0.10% for trades over $1,000
 Yes
CommSec
 0.12% for trades over $25,000.
 Yes
Superhero
 0.01% for trades over $20,000.
 No
Tiger Brokers
 0.03% for trades over $10,000 (with a flat $3 fee up to $10,000).
 Yes
moomoo
 0.03% of trade value (minimum $3).
 Yes
eToro
 US$2 flat fee for all ASX trades (plus any foreign currency conversion fees).
 No
Stake
 0.01% for trades over $30,000.
 Yes

*Source: Mozo database. Data accurate as at 10 September, 2025. Fees are subject to change. Always check the broker's official website for the most current pricing, terms and conditions.

What are brokerage fees?

Brokerage fees are what you pay an online trading platform when you buy or sell shares. There are several common ways these fees are structured:

  • Tiered fees. Many platforms adopt a tiered fee model, charging a flat rate for trades below a certain value and a percentage-based fee for larger trades.
  • Percentage fees. Other platforms charge a consistent percentage of the total trade value, typically with a minimum fee. This approach is straightforward and can mirror the tiered model in practice.
  • Commission-free trading. A growing number of online brokers now offer trading without brokerage fees, though they may offset these costs through premium services or advertising.

It’s also important to be aware of other potential fees like monthly charges for access to advanced tools or foreign exchange fees for trades involving non-AUD stocks.

Are there any free trading platforms in Australia?

While “free trading” may be common overseas, in Australia it can perhaps more accurately be described as “low-cost under certain conditions.” Platforms may promote $0 brokerage, but other costs often still apply. The main things to look out for are:

  • FX fees. Charged when converting AUD to buy international shares.
  • Trade limits. $0 brokerage might only apply to small trades, with standard fees kicking in once you exceed specific caps.
  • Platform or subscription fees. Some brokers charge ongoing monthly fees for access.
  • Custodial vs CHESS-sponsored. Low-cost brokers often use custodial models, meaning the broker technically holds the shares for you. With CHESS, shares are in your name, which many investors prefer.

Tips for finding the cheapest online trading app

If you don’t want excessive fees eating into your gains, you’ll want to seek out affordable options. Here are some tips to help you find the cheapest trading app that still does what you need it to:

  • Look at the brokerage fees. Most apps charge a brokerage fee, so this is the first place to look. The lower the fee, the better - provided the platform meets your trading needs.
  • Watch for extra fees. Keep an eye out for other fees like monthly fees, withdrawal fees and foreign exchange fees (for buying global stocks in AUD). Sometimes these fees pay for useful features and services, but other times they might just be a sneaky way to offset low brokerage fees.
  • Consider your trading activity. Different apps cater to different types of investors and are priced accordingly. What’s cost-effective for low volume traders might be different than what’s cost-effective for larger volume traders.
  • Search for discounts. Keep an eye out for promotional offers, like the ones listed in the next section below.

Just make sure the app you choose offers the functionality you need. There’s no point saving money on a share trading platform that doesn’t meet your needs in the first place.

Share trading platform deals and offers (T&Cs apply)

Looking to cut the cost of investing? Many Australian share trading platforms run limited-time promotions for new customers, ranging from free brokerage and bonus credit to free stocks.

These are the latest deals available:

Platform Offer details
CommSec
 $0 brokerage on first 10 trades: Open a new CommSec Share Trading Account and Commonwealth Direct Investment Account (CDIA) between 1 August and 30 September 2025 to receive $0 brokerage on your first 10 trades (up to $50,000 per trade). Trades must be placed by 31 December 2025.
Tiger Brokers
 $0 brokerage and cash vouchers: Enjoy 4 zero-brokerage trades per month on ASX, US stocks, ETFs, or options (third-party fees still apply). Get zero FX fees on AUD/USD conversions up to $2,000 monthly. Deposit at least $2,000 within 7 days of signing up to receive a $20 cash voucher.
IG
 $0 commission on international shares: Trade US and select international shares with no commission. A 0.7% FX fee applies. This is a permanent offer for all clients, not just new customers.
moomoo
 Welcome rewards and free stocks: New users get $0 brokerage for the first 30 days. Depositing funds also unlocks free US fractional shares – e.g. deposit $500 for a set number of shares, or $8,000 for more shares, with chances to receive stocks from companies like Nvidia or Tesla.
Webull
 New account and frequent trader discounts: 20 free trades when you open an account.​ There’s also a Frequent Trader promotion for all account holders running until 31 December 2025, offering up to 40% off ASX commissions, free streaming ASX and Cboe data, and access to the Trader Pro Line if you meet the monthly trading volume thresholds.
Stake
 Sign-up and transfer incentives: Fund a new Stake account with at least $50 within 24 hours to receive $10 free credit. Fund a Stake Wall St account for a free US stock. Stake also offers 12 months of free brokerage (up to $30,000 trade value/month) when transferring an ASX portfolio worth over $1,000.
Pearler
 Prepay discounts: Instead of short-term promos, Pearler focuses on cheaper brokerage via prepaying or subscriptions. For instance, prepay $55 to receive $65 trade credit, effectively saving you 15%.

*Source: Mozo database. Data accurate as at 10 September, 2025. Fees are subject to change. Always check the broker's official website for the most current pricing, terms and conditions.

How to find the cheapest share trading platform

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 sponsored deals on our main hub page or have a look at some of the providers below. 

Share account comparisons on Mozo

Mozo may receive payment if you click products on our site. Mozo does not compare the entire market.
Last updated 5 December 2025Important disclosures
  • Share Trading

    Small trade brokerage
    Monthly fee
    $0.00
    $0.00

    IG offers access to over 11,000 shares across the ASX, US and international markets, with no commission fees on trades. The platform supports extended trading hours on selected shares and provides 24-hour customer support. A 0.7% FX fee applies to international trades, with other charges potentially applying.

    Go to site
    Details
  • Share Investing

    Standard

    Small trade brokerage
    Monthly fee
    $0.00
    $0.00

    CMC Markets Invest makes it easy to trade with a handy web and mobile platform, competitive pricing and thousands of securities. Buy Australian and US shares from $0 brokerage (T&Cs apply - see website for full details).

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    Details
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    Tiger Account

    Small trade brokerage
    Monthly fee
    $3.00
    $0.00

    Mozo special offer for new users only: Get 4x zero brokerage trades (brokerage fees waived up to 2 USD per trade for US stocks, up to 3 AUD per trade for AUS stocks, and up to 3 USD per trade for US options) and zero FX fees for exchanging up to AUD 2,000 every month between AUD⇆USD with the first deposit of any amount. Other fees may apply. Plus AUD 40 cash vouchers with an accumulated net deposit of at least AUD 2,000 within 7 days of the first deposit. Trading conditions and withdrawal restrictions apply to the withdrawal of the AUD 40 cash – for full details, go to the Tiger Brokers website.

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    Details
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    Share Trading Account

    Small trade brokerage
    Monthly fee
    $2.00
    $0.00

    Superhero Trading allows you to invest in over 9,000 ASX and Wall Street shares and ETFs with brokerage from just $2 a trade. Sign up with code ‘mozo25’ and get US$10 of Nvidia stock when you fund your account with $100 or more within 30 days. T&Cs apply. 1Awarded-Winner: Best for Mobile Experience in the WeMoney Investment Awards 2023

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    Details
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    Share Trading

    Small trade brokerage
    Monthly fee
    $3.00
    $0.00

    Trade more than 22,000 shares, ETFs and options across the Australian, US and Hong Kong markets on the moomoo Australia platform. And only pay from A$3 for local CHESS-sponsored trades and US$0.99 for all US trades. Other fees apply.

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    Details

Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.

While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.

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