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. 

Understanding Brokerage Fees

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: 

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 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.

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.
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    Share Trading

    Small trade brokerage
    Monthly fee
    $3.00
    $0.00

    Invest in AU stocks, US stocks, HK stocks and ETFs on moomoo trading platform. Enjoy $0 brokerage fees for AU&US stock for 180 days as a new user. With US trades from $1.99 USD, other fees apply. Backed by a Nasdaq-listed fintech. (T&Cs apply).

    Details
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    Mozo Experts Choice 2023
    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. Enjoy one brokerage-free trade per month on US and ASX stocks* with account opening. Mozo special offer for new users only: Get USD $25 in Tesla fractional shares plus USD $50 in fractional shares for new accounts with an accumulative net deposit of AUD 500*. T&Cs apply.

    Details
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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).

    Details
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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.

    Details
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    Webull Share Trading Platform

    Small trade brokerage
    Monthly fee
    $4.90
    $0.00

    Webull lets you connect with international markets, trading ASX and US stocks and options. You’ll gain access to user-friendly platforms and technology-driven educational resources plus 2% yield on idle cash with Webull cash management. Earn up to 5.3% (P.A) yield on uninvested funds with Moneybull plus a cash voucher worth USD100 by funding USD2000 or more and maintaining the funds for 90 days! (T&Cs apply)

    Details
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    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.

    Details
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    Share Trading Account

    Small trade brokerage
    Monthly fee
    $5.00
    $0.00

    $0 brokerage when you purchase ETFs ($5 to sell Aussie ETFs), plus traders can get started with a minimum investment of just $100. For new customers, get US $10 of Tesla when you sign up, use the exclusive referral code from Mozo (mozo23), and fund AUD $100 in 30 days (T&Cs apply).

    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.