Australian investors can access international shares — particularly US-listed stocks and ETFs — through a growing range of local and international platforms. The best broker for international shares depends on which markets you want, how frequently you trade, whether you prefer CHESS-sponsored ASX holdings alongside your international account, and how much you want to pay in FX conversion fees.
International Shares Options for Australian Investors
Australian investors have three approaches to international exposure:
- ASX-listed international ETFs (e.g., VGS, NDQ, IVV, BGBL) — traded on the ASX via any Australian broker. No FX involved. This is the simplest approach for most Australians.
- Direct international share trading through an Australian broker with international market access (Stake, Superhero, SelfWealth, IG, Saxo)
- International platform not domiciled in Australia (Webull, Interactive Brokers) — available to Australians but may involve additional compliance complexity
ASX-Listed International ETFs — The Simplest Path
For most Australian investors, buying an ASX-listed international ETF is the most practical and cost-efficient route to global exposure. Benefits include:
- No FX conversion cost (ETF provider handles FX within the fund)
- No international brokerage — standard ASX brokerage applies
- CHESS-sponsored holding via your existing ASX broker
- No need for a separate international account
Popular ASX-listed international ETFs include VGS (Vanguard MSCI World ex-Australia), BGBL (BetaShares Global 200), NDQ (BetaShares NASDAQ 100), and IVV (iShares S&P 500). See Best International ETFs Australia.
Brokers Offering Direct International Shares
| Broker | US shares fee | Key markets | CHESS (ASX) | FX fee |
|---|---|---|---|---|
| Stake | $0 | NYSE, NASDAQ | No | ~0.70% |
| Superhero | $0 | NYSE, NASDAQ | Yes | ~0.60% |
| Moomoo | $0 | NYSE, NASDAQ | No | ~0.40% |
| SelfWealth | USD $9.50 | NYSE, NASDAQ | Yes | ~0.60% |
| Pearler | USD $6.50 | NYSE, NASDAQ | Yes | ~0.60% |
| IG Share Trading | $0 (US) | US, UK, EU, Asia, more | No | Variable |
| Saxo | USD 0.08% (min $3) | 70+ exchanges | No | Variable |
| CommSec | USD $19.95–$29.95 | US, UK, EU, HK, JP, CA | Yes | Variable |
| Interactive Brokers | USD 0.005/share | Global | No | Tight |
US Shares — $0 Commission Options
Stake, Superhero, and Moomoo all offer $0 commission US share trading. However, the FX spread (typically 0.40–0.70% on AUD-to-USD conversion) is a real ongoing cost. For a $10,000 US investment, a 0.60% FX spread equates to ~$60 — comparable to several years of $2 ETF brokerage on the ASX.
Beyond the US — Broader International Access
For investors wanting shares in UK, European, or Asian companies (not just the US), the options narrow:
- IG: US, UK, Germany, France, Japan, Hong Kong, Singapore, and more
- Saxo: 70+ global exchanges — the broadest retail access available in Australia
- CommSec: US, UK, Canada, Germany, Hong Kong, Japan
For broad international exposure without choosing individual countries, ASX-listed global ETFs (VGS tracks 1,500+ companies across 23 developed markets) remain the practical choice for most investors.
US ETF Restrictions for Australians
Most US-domiciled ETFs (VTI, VOO, SPY, QQQ) are not accessible to Australian retail investors under ASIC regulations — brokers are prohibited from selling US ETFs that lack an ASIC-compliant product disclosure statement. ASX-listed equivalents (VGS, IVV, BGBL, NDQ) serve the same purpose and are freely tradeable by Australians.
Recommendation by Profile
| Investor profile | Suggested approach |
|---|---|
| Passive international investor | ASX-listed ETFs (VGS, BGBL) via Superhero or Pearler |
| US direct stock investor | Stake or Superhero ($0 US brokerage) |
| Multi-country international portfolio | Saxo or IG for global exchange access |
| Large portfolio, low cost | Interactive Brokers (global, tightest FX) |
Related Articles
- Best International ETFs Australia
- Stake vs Superhero
- Brokerage Fees Comparison Australia
- Hedged vs Unhedged ETFs
- Share Trading Platforms hub
Frequently Asked Questions
Can Australians buy US shares directly? Yes. Multiple Australian and international brokers allow Australians to buy NYSE and NASDAQ-listed shares directly. You will need to provide tax residency information (including a W-8BEN form for US tax withholding purposes) and fund a USD account.
Is it better to buy VGS or buy US shares directly? For most passive investors, buying VGS (or a similar ASX-listed international ETF) is simpler, cheaper in FX terms, and provides broader diversification (1,500+ companies across 23 countries vs a handful of direct stock picks). Direct US stock picking suits investors with a specific conviction on individual companies.
What is a W-8BEN form? A W-8BEN (Certificate of Foreign Status) is a US tax form that Australian investors must complete when opening a US share account with most brokers. It certifies you are a non-US person and enables the reduced 15% dividend withholding tax rate under the Australia-US tax treaty (vs 30% without the treaty).
This article provides general financial information only. Brokerage fees and platform features are as of the date of publication and may have changed. For advice tailored to your situation, speak with a licensed financial adviser. You can find one through the ASIC financial advisers register or MoneySmart.