Best ETF Brokers Australia 2026: Fees, CHESS & Auto-Invest Compared

To buy ETFs in Australia you need a brokerage account. The broker you choose affects your brokerage fees, whether you own your ETF units directly (CHESS sponsorship), and whether you can automate regular purchases. For a long-term ETF investor, the broker choice can save or cost thousands of dollars over decades.

Here is the complete 2026 comparison of Australia's main ETF brokers.

Use the ETF Returns Calculator to see how brokerage fees compound over your investment horizon.

The Brokers Compared

Broker	Brokerage per trade	CHESS sponsored	Auto-invest	Best for
Pearler	$6.50 (up to $30K)	✅ Yes	✅ Yes	Regular ETF investors
Selfwealth	$9.50 flat	✅ Yes	❌ No	Simple flat-fee investing
CommSec	$10–$19.95	✅ Yes	❌ No	CBA customers, beginners
CMC Invest	$0 first trade/month, $11 after	✅ Yes	❌ No	Low-frequency investors
Stake	$3 AUS equities	❌ Custodian	❌ No	Low-cost, mobile-first
Moomoo	$0 for 6 months, then from $1.99	✅ Yes	❌ No	Active traders
Sharesies	0.5% capped at $10	❌ Custodian	✅ Yes	Small amounts, micro-investing
BetaShares Direct	$0 for BetaShares ETFs	❌ Custodian	✅ Yes	BetaShares ETF investors only

CHESS Sponsorship: Why It Matters

CHESS (Clearing House Electronic Sub-register System) is the ASX's electronic register of share ownership. A CHESS-sponsored broker registers your ETF units directly in your name under a Holder Identification Number (HIN) — you legally own the units, not the broker.

A custodian model means the broker (or their custodian) holds the units on your behalf. You have beneficial ownership but the legal title is not in your name. If the broker fails, recovery is more complex (though Australian Financial Services Licence requirements mandate asset segregation).

For long-term ETF investors, CHESS sponsorship is strongly preferred:

Your units are clearly yours, independent of the broker
You can transfer to another broker without selling (in-specie transfer)
Your HIN persists even if you change brokers

CHESS-sponsored brokers: Pearler, Selfwealth, CommSec, CMC Invest, Moomoo

Custodian brokers: Stake, Sharesies, BetaShares Direct

Pearler — Best for Regular ETF Investors

Brokerage: $6.50 per trade (up to $30,000), $19.50 above $30,000 CHESS: Yes Auto-invest: Yes — schedule regular purchases of chosen ETFs automatically

Pearler is specifically built for long-term index investors. Its auto-invest feature is the most developed of any Australian broker — you set the amount, frequency, and ETF, and Pearler executes the purchase automatically on schedule. No manual intervention required.

The $6.50 fee is the lowest among CHESS-sponsored brokers. For an investor contributing $2,000/month in DHHF, the annual brokerage is $78 (versus $114 at Selfwealth or $120+ at CommSec). Over 20 years, this difference at 9% compounding is approximately $5,000.

Pearler also offers: An "Autoinvest" community showing what other investors hold, a round-up feature, and a well-designed mobile app.

Best for: Anyone implementing a regular DCA strategy in 1–3 ETFs. The auto-invest feature removes the temptation to time the market.

Selfwealth — Best Simple Flat-Fee Broker

Brokerage: $9.50 per trade (flat, regardless of trade size) CHESS: Yes Auto-invest: No — all purchases are manual

Selfwealth charges a flat $9.50 per trade — no minimum, no percentage, no tiers. For larger trades (above $30,000), it beats Pearler ($9.50 vs $19.50). For regular smaller trades, it is slightly more expensive than Pearler.

Selfwealth's community feature shows the anonymised portfolios of other Selfwealth users — useful for benchmarking your ETF allocation against similar investors.

Best for: Less frequent investors placing larger trades, or investors who prefer manual purchases over auto-invest.

CommSec — Best for CBA Customers

Brokerage: $10 (up to $1,000), $19.95 ($1,000–$10,000), variable above CHESS: Yes Auto-invest: No

CommSec is Australia's largest retail broker by users, backed by CBA. Its main advantages are brand trust, integrated CBA bank account (funds appear immediately), and the widest coverage of Australian listed securities.

The fees are higher than Pearler and Selfwealth for standard ETF purchases. A $5,000 ETF purchase costs $19.95 at CommSec versus $6.50 at Pearler — a $13.45 saving per trade. For a monthly investor, that is $161/year in extra brokerage.

Best for: CBA customers who value bank integration and brand trust over fee minimisation. Also the most widely supported broker for SMSFs.

CMC Invest — Best for Infrequent Investors

Brokerage: $0 for the first trade each month, $11 for subsequent trades CHESS: Yes Auto-invest: No

CMC Invest's zero-brokerage first trade per month makes it compelling for investors who contribute once a month or less. If you invest $2,000 once per month, your effective brokerage is $0. If you make multiple trades per month, it becomes $11 from the second trade.

Best for: Investors who make exactly one ETF purchase per month and don't need auto-invest.

Stake — Lowest Brokerage for Manual Trades

Brokerage: $3 per Australian trade CHESS: No (custodian model) Auto-invest: No

Stake offers the lowest brokerage for manual Australian share trades at $3. The trade-off is the custodian model — your units are not CHESS-registered in your name.

For investors comfortable with the custodian model and prioritising low fees on manual trades, Stake is a legitimate option. For long-term ETF investors who prioritise direct ownership, the CHESS gap is a meaningful downside.

Best for: Investors comfortable with custodian model who want the cheapest manual trade execution.

BetaShares Direct — Zero Brokerage on BetaShares ETFs

Brokerage: $0 for BetaShares ETFs (DHHF, A200, BGBL, NDQ, etc.) CHESS: No (custodian model) Auto-invest: Yes

BetaShares Direct is BetaShares' own brokerage platform, launched in 2022. It charges zero brokerage on BetaShares ETFs and has a functional auto-invest feature. The limitation: it only trades BetaShares ETFs. You cannot buy VAS, VGS, IVV, or any non-BetaShares ETF through this platform.

For a pure-DHHF or pure-A200 investor, BetaShares Direct is compelling — zero brokerage, auto-invest, and the ability to hold your core ETF. But if you want a two-ETF portfolio including a Vanguard or iShares product, you need a separate broker.

Best for: Investors committed to a BetaShares-only portfolio (DHHF + BGBL, for example).

How Much Does Brokerage Actually Cost Over Time?

Scenario: $1,000/month invested in DHHF for 20 years at 9% net return.

Broker	Annual brokerage	20-year brokerage cost (nominal)	Lost compounding (at 9%)
BetaShares Direct / CMC (1st trade)	$0	$0	$0
Pearler	$78	$1,560	~$4,300
Stake	$36	$720	~$2,000
Selfwealth	$114	$2,280	~$6,300
CommSec	$240	$4,800	~$13,200

The difference between CommSec and Pearler on a $1,000/month investment over 20 years is approximately $8,900 in lost compounding. This is why brokerage choice matters for regular investors.

Which Broker Should You Choose?

For regular automatic investing (DCA): Pearler (CHESS, $6.50, auto-invest) or BetaShares Direct (free if BetaShares-only, auto-invest, custodian)

For monthly manual investing: CMC Invest (first trade per month free, CHESS)

For larger, less frequent trades: Selfwealth ($9.50 flat, CHESS) or Pearler

For CBA customers: CommSec (bank integration, CHESS, higher fees)

For ultra-low manual brokerage: Stake ($3, custodian model)

Frequently Asked Questions

What is the cheapest ETF broker in Australia?

BetaShares Direct charges $0 brokerage for BetaShares ETFs (custodian model). CMC Invest charges $0 for the first trade per month. Pearler charges $6.50 per trade with CHESS sponsorship — the lowest CHESS-sponsored fee available. Stake charges $3 per trade with a custodian model.

Is CommSec good for ETFs?

CommSec is reliable and well-supported but has higher fees than alternatives. At $19.95 per trade for purchases between $1,000–$10,000, regular investors pay significantly more than at Pearler ($6.50) or Selfwealth ($9.50). For CBA customers who value bank integration and support, it is a solid choice — but not the cheapest.

What is CHESS sponsorship and why does it matter?

CHESS sponsorship means your ETF units are registered directly in your name on the ASX's electronic register under your own Holder Identification Number (HIN). Custodian brokers hold the units on your behalf. CHESS is preferred for long-term investors because your ownership is unambiguous and you can transfer to another broker without selling.

Does Pearler have auto-invest?

Yes — Pearler's auto-invest feature lets you schedule regular purchases of your chosen ETF automatically. You set the amount and frequency (weekly, fortnightly, monthly), and Pearler executes the purchase without you needing to log in. This is the most important feature for investors implementing a dollar cost averaging strategy.

General information only. Not financial advice. Brokerage fees and features change — verify current rates before opening an account.