Brokerage fees are the cost you pay to a broker every time you buy or sell shares or ETFs on the ASX. In Australia, these fees range from $0 (for ETFs on some platforms) to $19.95 for small trades on CommSec. Choosing the right broker for your trading frequency and investment size can save hundreds to thousands of dollars per year. Here is a full comparison for 2026.
Australian Brokerage Fee Comparison (2026)
| Broker | Brokerage per ASX trade | ETF brokerage | Minimum investment | CHESS sponsored |
|---|---|---|---|---|
| Superhero | $2 | $0 | None specified | Yes |
| Stake | $3 | $3 | None specified | No (custodial) |
| Pearler | $6.50 | $6.50 | None specified | Yes |
| moomoo | $0–$3.30 | $0–$3.30 | None | No (custodial) |
| CMC Markets | $0 (first 10 trades/month), then 0.10% min $9.90 | $0 (ETFs, first 10) | $0 | Yes |
| SelfWealth | $9.50 flat | $9.50 flat | None specified | Yes |
| Interactive Brokers | 0.08% min $6 AUD | 0.08% | None specified | No (custodial) |
| CommSec | $10 (under $1,000); $19.95 ($1,000–$10,000) | Same | $500 | Yes |
Fees correct at time of publication (May 2026). Platforms may change fees — verify directly with the broker before opening an account.
How Brokerage Affects Your Returns
Brokerage is a transaction cost paid every time you buy or sell. It directly reduces your net return:
Example — $1,000 invested with different brokerage:
| Broker | Brokerage | Amount actually invested | Brokerage as % |
|---|---|---|---|
| Superhero (ETF) | $0 | $1,000.00 | 0% |
| Pearler | $6.50 | $993.50 | 0.65% |
| SelfWealth | $9.50 | $990.50 | 0.95% |
| CommSec | $10.00 | $990.00 | 1.00% |
On $5,000: brokerage falls to 0.13–0.20% — much more cost-effective. The minimum investment threshold before brokerage becomes cost-effective (under 1% of investment):
| Broker | Investment needed for brokerage <1% |
|---|---|
| Superhero (ETF) | Any amount |
| Pearler | $650+ |
| SelfWealth | $950+ |
| CommSec | $1,000+ |
Other Fees to Watch
Beyond per-trade brokerage, watch for:
- Account fees — most major Australian brokers charge no ongoing account fee
- Inactivity fees — some international brokers charge if you do not trade for a period
- FX conversion fees — relevant if buying US or international shares (often 0.5–1.5% hidden in the exchange rate)
- Withdrawal fees — rare in Australia but check terms
What Does “Free” ETF Brokerage Mean?
Some platforms (Superhero) offer $0 brokerage on ETF purchases. This is genuinely $0 — no per-trade fee. They generate revenue through other means (margin lending, securities lending, interest on cash balances).
$0 brokerage platforms are ideal for:
- Beginners investing small amounts (where brokerage would otherwise be disproportionate)
- Investors making very frequent small contributions (e.g., monthly DCA of $500)
CHESS vs Custodial — Does It Affect Fees?
CHESS-sponsored brokers (CommSec, SelfWealth, Pearler, Superhero) may have slightly higher brokerage than custodial brokers (Stake, moomoo, Interactive Brokers). CHESS sponsorship means your shares are held in your name. Custodial accounts mean the broker holds shares on your behalf.
Neither is inherently unsafe, but CHESS provides direct ownership on the ASX settlement system — important if the broker were to face financial difficulty.
Choosing the Right Broker for Your Brokerage Cost
| Investor profile | Recommended broker (based on fee) |
|---|---|
| Beginner, small ETF contributions | Superhero ($0 ETF brokerage) |
| Long-term DCA investor | Pearler ($6.50 + automation) |
| Active investor, frequent trades | CMC Markets (first 10 trades free/month) |
| Larger portfolio, flat fee | SelfWealth ($9.50 flat regardless of trade size) |
| Large trades ($10,000+) | Interactive Brokers (0.08% = $8 on $10,000) |
Related Articles
- Best Broker Australia (2026)
- CommSec vs SelfWealth
- CommSec vs Superhero
- How to Buy Shares in Australia
- ASX Shares hub
- Investing hub
Frequently Asked Questions
What is the cheapest brokerage in Australia for ETFs? Superhero currently offers $0 brokerage on ASX ETF purchases — making it the lowest cost option for ETF investors. CMC Markets also offers $0 brokerage on ETFs for the first 10 trades per month. Both are ASIC-regulated platforms.
Does CommSec charge to hold shares? CommSec does not charge an ongoing account keeping fee for its standard share trading account (CommSec). There is no charge to simply hold shares. Brokerage is only charged when you buy or sell.
Is paying more brokerage worth it for better research or tools? Most Australian retail investors — particularly those buying and holding ETFs — do not need advanced research tools. The company announcements available free on asx.com.au, combined with free financial news, is sufficient for buy-and-hold investors. Paying higher brokerage for access to research is rarely worth it compared to simply using a low-cost broker and accessing free market information independently.
This article provides general financial information only. Brokerage fee comparisons are based on publicly available information and may change. Verify fees directly with each broker. For advice tailored to your situation, speak with a licensed financial adviser. You can find one through the ASIC financial advisers register or MoneySmart.