Best Online Share Brokers in Australia (2026): Compare Fees, Platforms, and Investment Options
If you want a tiny part of the Commonwealth Bank of Australia or the BHP Group LTD, you just can't waltz into their headquarters and ask for it. You need a middleman to make this happen. The middleman here is an online share broker.
An online share broker sits between you (the user) and the Australian Securities Exchange (ASX) and will handle all your trades when you click that BUY or SELL button. And the best part? You can use these services without a fancy suit, flashy car, or hefty bank account.
But online share brokers don't the same modus operandi. Some might ask you to pay a fee for trades, while others keep things free. A few will give you access to tools required to do research and make valid trades; others maintain the status quo by just allowing you to make trades, nothing more.
If you're thinking of investing in shares, you might be wondering what platforms are great for your journey, given that they've got their differences. But not to worry. This guide will let you in on the best 7 online share brokers in Australia. We'll show you how they work, their fees, and everything in-between. Let's get going.
How Online Share Brokers Work
An online share broker is like a guide in a big farmer's market. You're looking for oranges, but the stall for it is at the market’s exit. You don't know about this, but the guide does. To get what you want without stressing yourself, you can pay the guide a small fee to go to that stall and select the kind of oranges you'd like.
The same idea applies in the real-world. But this time, you're buying shares, not oranges.
To get started at an online share broker, you need to first create an account (more on this later). After you've done so, deposit money via a payment method you're comfortable with. At this point, you can now search the company you'd like to purchase shares from and click on BUY.
Once the platform registers this click, it sends your order to the ASX for confirmation. And when this happens, that order is complete. That said, the transfer of cash and shares can take up to 2 working days. This isn't weird. It's called T+2 settlement, the standard on the ASX.
Once the ASX settles your order, the shares you bought will be recorded in your name through the Clearing House Electronic Subregister (CHESS). Afterwards, you'd get a Holder Identity Number (HIN); your HIN is digital proof that you own those shares.
Online share brokers are self-directed, meaning you can make trading decisions without getting personalised expert advice. This structure makes them cheaper than full-service brokers that can charge A$50 to A$150 per trade. With online share brokers, you're spending about A$0 to A$30 per trade, fees included.
The Australian Securities Exchange has 2,200+ listed companies and ETFs. They're spread across different industries, including banking, mining, healthcare, and technology. When you make investments via an online share broker, you're keying into all these trading opportunities, all from the comfort of your home.
“Trade Stocks with an ASIC-regulated broker. Fast AUD funding via PayID. ”
7 Best Online Share Brokers in Australia
There are many platforms that claim they're the best option for trading shares in Australia. As such, making a pick from this menu can seem difficult. But don't fret as this section will highlight 7 online share brokers that walk the talk when it comes to smooth investments in Australia:
#1 Mitrade: Best for CFD Share Trading
Fonte: Mitrade
If you want to make investments on a platform that wears several hats, now's the time to look towards Mitrade.
This ASIC-regulated broker doesn't allow you to own shares per se. It acts as a CFD broker that lets you predict the prices of not just shares, but other financial instruments such as forex, commodities, ETFs, and indices. And the best part? You can do all these without paying any money in commissions.
As one of the best trading platforms in Australia, Mitrade works seamlessly on mobile and PC. Also, it's home to TradingView charts that let you in on how prices are proving, over 100 tools for analysis, and a blog that's updated in real-time to give you insights of what's going on in the financial world.
What's more? There's a Mitrade Academy with beginner courses that investing newbies can use to understand the platform and make trades without getting confused.
The money you fund your Mitrade account with is kept in a segregated trust account to ensure your capital is separated from the company's operating costs all the time. Mitrade also processes all withdrawal requests within 24 hours and has a Negative Balance Protection system that ensures your max loss is limited to the total amount you've deposited into your trading account.
Enjoy simple and fast trading Flexible leverage options available Follow real-time trading strategies Demo account with $50,000 virtual funds
#2 eToro: Great for Social Trading
Fonte: eToro
eToro is a popular online share broker with over 40 million registered users in 75+ countries globally. One of its best features is the CopyTrader. Using this tool, you can copy the trades of experienced traders in real-time. This is great, especially if you're a newbie who's learning the ropes and still wants to make real-money trades that can yield profits.
At eToro, you can own shares outright or speculate their prices. However, note that the platform will charge you $2 (A$3) per trade for buying and selling on the ASX.
The shares you own at eToro are in their personal custody and not under CHESS. As such, purchased shares won't appear in eToro’s name and not yours. At this online share broker, fractional shares will set you back by at least $10 (A$14) and you'd need to fund your account with at least $50 (A$70) to start trading.
#3 Webull: Best for Research Features
Fonte: Webull
Webull has 27+ million active users around the world. The online share broker has an AU arm that's a trading participant of the Australian Securities Exchange. Being a part of the ASX, it makes use of the CHESS protocol, so shares you purchase will be in your name.
When you use Webull, you'll come across its Vega AI. This tool is powerful and has the capacity to give you a summary of financial data and stock news. With this round-up in place, you can cut through the noise and make informed trades.
Webull has a brokerage fee of $1 (A$2) or 0.03% per trade on shares listed on the ASX.
#4 CMC Invest: The Right Fit for Experienced Traders
Fonte：CMC Invest
CMC Markets have been around for 3+ decades. In 2022, they launched a stock trading platform called CMC Invest in the United Kingdom. Within 4 years of its launch, CMC Invest has become a popular online shares broker with 2+ million users globally.
Like eToro, CMC Invest permits direct shares and CFD trading. It also supports MetaTrader 4 (MT4) and TradingView. That said, all transactions on CMC Invest are processed through CHESS.
At CMC Invest, your first $1,000 (A$2,000+) in ASX trades are free. Once you hit this limit, you'd be charged $11 (A$22+) or 0.10% of the total order.
#5 Stake: The Hub for Low-Cost Investing
Fonte：Stake
Stake has over 500,000 users globally. Most users tag it as a mobile-first trading platform because of how easy it is to use on your smartphone.
On this platform, you'd enjoy CHESS-routed share trading on the ASX. However, there's a $3 fee you need to settle per trade, regardless of order size.
Stake also has a SUPER program that gives Aussie investors the luxury of setting up and managing their Self-Managed Super Fund (SMSF). With this add-on at your disposal, you can decide on what stock or ETFs your retirement money buys.
#6 Moomoo: Perfect for Beginners With Tight Budgets
Fonte：Moomoo
Moomoo started operations in Australia on the 8th of March 2022. The trading platform has become red-hot, all thanks to its low charges and the availability of fractional shares starting at $5 (A$7).
It's 2026 and Moomoo serves over 28 million users worldwide. It also manages $160+ billion in assets, cementing it as a reliable online shares broker.
ASX trades you carry out on Moomoo will cost you $3 (A$4+) per order. However, on larger orders, the platform will charge you 0.03% of the entire value. Moomoo has all transactions routed via CHESS and several guides to shed light on how stuff on its platform works in real-time.
#7 Interactive Brokers: Global Access Takes Centre Stage
Fonte：Interactive Brokers
Interactive Brokers have been around for 49 years. Aussie investors that sign-up here will have access to 170+ financial markets across 36 countries. This range is what so many online share brokers dream about.
If you lean towards ASX shares, you'd find a retinue of options at Interactive Brokers. But trades on this exchange are charged at 0.08% of the trade’s value (subject to an A$6 minimum).
This online share broker is making rounds among investors because it allows users to open and keep regular individual and joint cash accounts with a minimum deposit of A$0. With this initiative in place, it's no surprise why many newbie traders make Interactive Brokers their go-to for share trading.
Broker Fees Explained
Fees at online share brokers have different types. You might not notice them on day 1. But as time goes on, they begin to quietly eat into your returns. Here are some of the charges you'll need to settle on most platforms:
Brokerage Fees: This is the fee you settle for every trade you make. It could be flat (i.e., Stake’s $3) or based on percentages (i.e., Interactive Brokers’ 0.03%). On hubs like CMC Invest, you'll only get charged after you hit a trade total of $1,000 for the day.
Spread: CFD trading brokers like Mitrade will get a kick-back from the difference in a share’s buy and sell price. But you won't find it labelled as a real cost on the platform.
Overnight Funding Fees: This applies to CFD trading. If you keep an open position past midnight (or the time set by the trading platform), you'd have to settle a small fee. It could look inconsequential at first, but could stack up over time.
Inactivity Fees: If you're trading on eToro, and you don't log into your account for 12 months, you'd need to pay a $10 (A$14+) inactivity fee each month until your balance gets to zero.
Currency Conversion Fees: Platforms like Webull can charge you 0.50% to 1.50% on USD to AUD currency conversions. However, this could be higher or lower, depending on market movements.
Withdrawal Fees: This is a charge placed on withdrawals. At eToro, users pay a flat $5 fee for withdrawal requests.
Online Share Brokers vs. CFD Brokers
Buying shares is similar to purchasing a property in Australia. It's yours, your name is on the title, and you could collect rent (dividends).
On the flip side, CFD trading is like betting whether the value of a property will go up or down without even owning a brick.
Online share brokers like Moomoo and Stake give you direct ownership of a share. The ASX knows you're the owner and will give you an HIN as proof it's yours. As a shareholder, you've got voting rights and are entitled to dividends several times each year.
CFD brokers such as Mitrade operate differently. Here, you're trading a contract linked to a share. If you predict the BHP share will rise and its value increases by 5%, your position will grow by 5% without you even owning a share.
How to Open a Share Trading Account
The 7 online brokers highlighted in this guide have similar account creation steps. However, Mitrade has the most seamless process. To get started, follow these steps:
Create an account on Mitrade and finish its account verification process.
Deposit funds (minimum A$50) using a payment method you're familiar with.
Explore ASX-listed shares.
Open a position (you either go long or short), depending on your research.
1. What is a CFD broker?
A CFD broker is a platform that allows you to trade on the price movements of shares without owning them. One solid example of a pure CFD broker is Mitrade.
2. How much do I need to start trading shares?
It depends on the online broker. On platforms such as Interactive Brokers, you can start share trading with as little as A$1.
3. Can I start trading on my mobile phone?
Yes, every broker on this list has mobile apps you can use to create an account, deposit funds, and make trades.
* The content presented above, whether from a third party or not, is considered as general advice only. This article should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments.
