Cheapest Stock Brokers in April

By Cameron Thomson · · 3 min read
Fact Checked
Advertiser disclosure

Investing in shares usually means getting a broker or signing up to a brokerage platform that will make trades on your behalf. When choosing a broker or platform, low fees and commissions can make a big difference in the long run. That’s because the amount you end up paying in fees over time can be quite substantial. It's important to keep this in mind since most growth in shares or dividend reinvestment plans happens over the long term. 

Understanding Brokerage Fees

Brokerage can come with a number of fees like account keeping charges, cost of transaction, and—if trading international shares—FX conversion fees. There are a couple of things to keep in mind when looking at brokerage fees like... 

  • 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. However, there are quite a number of low fee providers that may be worth considering. 

$0 Small Trade Brokerage: 

Under $5 Small Trade Brokerage: 

0% Large Trade Brokerage: 

Traditional and Online Stock Brokers

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 how it was done before the Internet (although many of these firms are using the Internet now for services). It differs from online brokerage by giving 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 lot of retail investors. With online brokerage, an investor can place buy and sell orders from the convenience of their phone or computer. However, inexperienced investors may find themselves confused without a proper financial plan or experience navigating these sites.

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

Share trading platforms - rates updated daily

Search promoted share trading below. Advertiser disclosure.
  • ASX Shares

    Small trade brokerage
    Monthly fee
    $0.00
    $0.00

    Join the world’s leading social trading platform, trusted by 30 million users worldwide. Invest in stocks, crypto, ETFs and more - all in one place. Hone your financial skills with a $100K virtual demo account.

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  • Mozo Experts Choice 2024
    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
  • Tiger Account

    Small trade brokerage
    Monthly fee
    $5.50
    $0.00

    Tiger Brokers is an online broker listed on NASDAQ. It offers access to US, ASX & HK stocks, ETFs and US options trading. Earn 7% p.a. on uninvested cash balance up to AUD 100,000 for the first 150 days, with a value up to AUD 2,877. Plus get US$30 Tesla (TSLA) and US$30 NVIDIA (NVDA) shares with an accumulated deposit greater than AUD 2000. T&Cs apply – for full details, go to the Tiger Brokers website.

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  • Share Trading

    Small trade brokerage
    Monthly fee
    $7.70
    $0.00

    Buy and sell with a low $7.70 flat fee per trade and access to all ASX Shares and ETFs to invest in with GO Markets. Enjoy dedicated local customer support, a regulated Australian company for trading ASX Shares and ETFs. Plus, enjoy $0 Brokerage on your next 15 trades! (T&Cs apply).

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  • Idle Cash

    Small trade brokerage
    Monthly fee
    $5.50
    $0.00

    Receive interest on your uninvested cash. Deposit over USD/AUD 5,000 to start receiving 1.5% return; 2.25% return on over AUD 50,000; Up to 3.25% return on over USD 50,000. Mozo special offer for new users only: Get USD 50 fractional shares plus USD 25 Tesla shares with a cumulative net deposit of min. AUD 500 within 7 days of the first account opening. T&Cs apply.

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  • Share Trading

    Small trade brokerage
    Monthly fee
    $8.00
    $0.00

    Enjoy access to over 13,000 local and international shares and ETFs with $0 Commission on all international shares including US. Trade pre- and post-market with extended hours on over 70 key US shares. Get better rates on domestic shares for active traders - trade Australian shares from $5 commission. (T&Cs apply). Around the clock customer support from real humans (not chat bots). Trade international and Australian shares from the one account with intuitive desktop and mobile app.

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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.