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

Quick answer: For buying ASX ETFs, BetaShares Direct and Webull both charge $0 brokerage on ETFs — BetaShares Direct holds them for you (custodial), Webull registers them in your name (CHESS-sponsored). CMC Invest is free for your first buy under $1,000 per stock each day. Stake and Moomoo charge $3. Pearler costs $6.50 but has the most developed auto-invest. Brokerage changes often — every figure below links to the broker's own pricing page, checked 4 October 2026.

The broker you choose decides three things: what each purchase costs, whether you own your ETF units directly (CHESS sponsorship), and whether you can automate regular buying. For someone investing every month for 20 years, the brokerage difference between the cheapest and dearest options runs into thousands of dollars.

Use the ETF Calculator to see how fees and regular contributions compound over your investment horizon.

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The brokers compared

CommSec's rates apply to online trades settled through a CommBank CDIA account. Settling to another bank account costs $29.95 up to $9,999.99, or 0.31% above.

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CHESS sponsorship: why it matters

CHESS (Clearing House Electronic Subregister System) is the ASX's register of share ownership. A CHESS-sponsored broker registers your ETF units in your name under your own Holder Identification Number (HIN), so you are the legal owner.

A custodial broker holds the units on your behalf. You have beneficial ownership, but legal title sits with the custodian. If the broker fails, recovering your holdings is more involved, and moving to another broker is less simple than transferring a HIN.

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

• Your units are clearly yours, independent of the broker
• You can move to another broker without selling (an in-specie transfer)
• Your HIN stays with you if you change brokers

CHESS-sponsored: Webull, CMC Invest, Stake, Moomoo, Pearler, Selfwealth, CommSec

Custodial: BetaShares Direct, Sharesies

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BetaShares Direct — $0 brokerage on every ASX ETF

Brokerage: $0 on all ASX-traded ETFs and shares, with $0 account fees. BetaShares says this is "not an introductory offer" (BetaShares Direct pricing). CHESS: No — custodial Auto-invest: Yes

Despite the name, BetaShares Direct isn't limited to BetaShares funds — you can buy VAS, VGS, IVV or any other ASX-listed ETF at no brokerage. It also allows fractional, dollar-based purchases from $10, so a $250 monthly contribution goes in exactly (BetaShares).

Best for: Small, frequent contributions where $0 brokerage matters most, and investors comfortable with a custodial model.

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Webull — $0 ETF brokerage with CHESS sponsorship

Brokerage: $0 on Australian ETFs; $1 or 0.03% (whichever is greater) on Australian shares (Webull pricing) CHESS: Yes — you get your own HIN Auto-invest: Yes

Webull is the only broker in this comparison that combines $0 ETF brokerage with CHESS sponsorship. The trade-off is a trading-focused app that's busier than Pearler or BetaShares Direct.

Best for: Investors who want both zero ETF brokerage and direct ownership.

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CMC Invest — free small buys

Brokerage: $0 for the first buy under $1,000 per stock each day; all other buys and all sells cost $11 or 0.10%, whichever is greater (CMC pricing) CHESS: Yes Auto-invest: No

If each purchase is under $1,000, CMC Invest costs nothing to buy. Selling always costs at least $11, and a purchase of $1,000 or more costs $11.

Best for: Manual investors who buy in parcels under $1,000.

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Stake and Moomoo — $3 trades

Stake: $3 per ASX trade up to $30,000, then 0.01% — CHESS-sponsored, with your own HIN (Stake pricing, Stake CHESS). Moomoo: $3 or 0.03% of trade value, whichever is greater — CHESS-sponsored (Moomoo pricing).

Both suit manual investors placing occasional trades who want CHESS ownership and very low brokerage. Neither has Pearler-style automated ETF investing.

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Pearler — best auto-invest

Brokerage: $6.50 per buy or sell, or $5.50 if you prepay brokerage (Pearler pricing) CHESS: Yes Auto-invest: Yes

Pearler is built for long-term index investors. You set the amount, frequency and ETF split, and Pearler buys on schedule. It costs more per trade than the $0–$3 options, so it suits investors who value the automation and a calm, long-term-focused app.

Best for: Regular investors in a 1–3 ETF portfolio who want buying fully automated with CHESS ownership.

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Selfwealth and CommSec

Selfwealth: $9.50 flat per trade, CHESS-sponsored, no account fees (Selfwealth pricing). The flat fee is simple but more than the $0–$6.50 brokers for typical ETF purchases.

CommSec: tiered brokerage from $5 (trades up to $1,000) to 0.12% (over $25,000) when settling to a CommBank CDIA (CommSec rates). For trades of $1,000 or less it's cheaper than Pearler or Selfwealth; a $5,000 purchase costs $19.95, against $6.50 at Pearler.

Best for: Selfwealth suits investors who want a simple flat fee. CommSec suits CBA customers who value bank integration, and small parcels under $1,000.

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How much does brokerage cost over time?

Scenario: one $1,000 ETF purchase a month for 20 years. "Value at year 20" is what the brokerage would have grown to if invested at 9% a year instead.

The gap between the cheapest and dearest option on this pattern is about $5,800 by year 20. At larger, less frequent purchases the differences shrink: one $6,000 purchase every six months costs $13 a year at Pearler and $39.90 at CommSec.

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Which broker should you choose?

Small regular contributions, lowest cost: BetaShares Direct (custodial) or Webull (CHESS) — both $0 on ETFs.

Fully automated investing with CHESS ownership: Pearler, or Webull's auto-invest.

Manual purchases under $1,000: CMC Invest ($0) or CommSec ($5).

Occasional larger trades: Stake or Moomoo ($3), or Selfwealth ($9.50 flat).

CBA customers: CommSec, for bank integration.

Best trading platform for beginners

If you're starting out, the cheapest broker on paper isn't the only thing that matters. Four things make investing easier when you're new:

1. No cost on small purchases. Beginners usually invest small, regular amounts, where flat brokerage hurts most: $9.50 on a $500 purchase is 1.9%. BetaShares Direct and Webull charge $0 on ETFs, and CMC Invest charges $0 on your first buy under $1,000 per stock each day.
2. Auto-invest. Setting up a regular purchase removes the "is now a good time?" decision. BetaShares Direct, Webull, Pearler and Sharesies offer it.
3. Ownership you understand. With CHESS sponsorship (Webull, Pearler, CMC, Stake, Moomoo, Selfwealth, CommSec), units are registered in your name. Custodial platforms (BetaShares Direct, Sharesies) hold them for you. Both are workable; see the section above for the trade-off.
4. A simple app. Use any free demo or watchlist to check you're comfortable with the app before funding the account.

On those criteria, BetaShares Direct (simplest $0 option with auto-invest, custodial) or Webull ($0 ETFs with auto-invest and CHESS sponsorship) suit most ETF beginners. Pearler suits beginners who value a long-term, automated set-up enough to pay $6.50 a purchase. Buying individual company shares rather than ETFs? See how to buy shares in Australia for the step-by-step process.

Once you've picked a broker, the next decision is what to buy: see best ETFs in Australia for the top pick in each category.

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Frequently asked questions

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Related calculators and guides

• ETF Calculator
• Pearler vs Vanguard Personal Investor
• Stake vs CommSec
• ETF investing for beginners: how to buy your first ETF
• Capital Gains Tax Calculator

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Brokerage and features checked against each broker's own pricing page on 4 October 2026. Fees and offers change — confirm before opening an account.

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This article is for general information only and does not constitute financial, tax or legal advice. Individual circumstances vary. Consult a registered tax agent or licensed financial adviser before making decisions based on this information.