The Three Brokers Most Australian Traders Choose Between
Ask any Australian retail trader which broker they use, and the answer will almost certainly be one of these three: CommSec, Selfwealth, or Stake. They cover the spectrum from full-featured and expensive (CommSec) to bare-bones and cheap (Stake), with Selfwealth sitting in between.
This article puts all three side by side with exact fee structures, platform comparisons, hidden cost analysis, and a clear breakdown of when each broker is the right choice for swing traders.
Fee Structure: Exact Current Pricing
CommSec (CDIA Settlement, Online)
CommSec uses a tiered fee structure based on trade value. For customers settling through a Commonwealth Direct Investment Account (CDIA):
| Trade Value | Brokerage |
|---|---|
| Up to $1,000 | $5.00 |
| $1,001 - $3,000 | $10.00 |
| $3,001 - $10,000 | $19.95 |
| $10,001 - $25,000 | $29.95 |
| Over $25,000 | 0.12% |
If you settle through a non-CDIA cash account, fees jump to $29.95 for trades up to $10,000 and 0.31% for trades over $10,000. Always use a CDIA.
Selfwealth
Selfwealth charges a single flat fee regardless of trade size:
| Market | Brokerage |
|---|---|
| ASX (any size) | $9.50 AUD |
| US (any size) | $9.50 USD |
| Hong Kong (any size) | $88.00 HKD |
No tiers, no percentage calculations. Every trade costs the same.
Stake
Stake uses a low flat fee with a percentage component for very large trades:
| Trade Value | Brokerage |
|---|---|
| Up to $30,000 (ASX) | $3.00 AUD |
| Over $30,000 (ASX) | 0.01% |
| US trades | $3.00 USD (plus 0.55% FX fee) |
Platform Strengths: Where Each Broker Wins
CommSec: The Research Platform
CommSec's strength is its depth of tools. The standard web platform includes:
- Advanced charting with multiple timeframes, overlays, and indicators
- Stock screeners with filtering by fundamental and technical criteria
- Heat maps showing sector and market movement at a glance
- Analyst recommendations and consensus ratings
- Portfolio analytics and performance tracking
- News feed with real-time company announcements
For traders who want more, CommSec Pro powered by IRESS adds Level 2 market depth, advanced order types (including conditional and bracket orders), and a customisable multi-monitor layout. This costs $55 per month, waived if you make 10+ trades per month.
CommSec's platform is the closest thing to a professional trading terminal available through an Australian retail broker.
Selfwealth: The Middle Ground
Selfwealth's web platform covers the basics competently:
- Standard charting with common indicators (moving averages, RSI, MACD, Bollinger Bands)
- Portfolio tracking with performance metrics
- Watchlists with price alerts
- Community features showing popular holdings and anonymised portfolio performance
- Basic stock information pages with fundamentals
Charting is where Selfwealth falls short compared to CommSec. There are no drawing tools, no custom indicator overlays, and the chart customisation options are limited. Many Selfwealth users run TradingView in a separate browser tab for analysis and switch to Selfwealth to execute trades.
The community feature is unique among these three brokers. You can see what other Selfwealth users are holding and how their portfolios have performed (anonymised), which some traders find useful for idea generation.
Stake: The Execution Platform
Stake's platform is built around speed and simplicity:
- Clean, modern interface with fast order placement
- Basic price charts and candlestick views (up to three years of history)
- Multiple watchlists
- Quick switching between ASX and US markets
- Instant funding via Apple Pay and Google Pay
Stake is not a platform for analysis. There are no advanced indicators, no drawing tools, no stock screeners, and no market depth data on the standard plan. The charting is limited to basic price action.
Stake is designed for traders who do their analysis elsewhere (TradingView, broker platforms, SwingFolio) and use Stake purely for cheap execution. If you can accept that trade-off, the $3 brokerage and clean mobile experience are hard to argue against.
Mobile App Comparison
CommSec: Full-featured mobile app with trading, charting, watchlists, alerts, news, and portfolio tracking. The app mirrors most of the web platform's functionality. Reliable and well-maintained. Rating: 4.7/5 (App Store).
Selfwealth: Functional mobile app for trading and portfolio monitoring. Charting is basic. The app handles the essentials but lacks the polish and speed of Stake or CommSec. Rating: 4.0/5 (App Store).
Stake: The best mobile experience of the three. The app was designed mobile-first, and it shows -- fast, clean, intuitive navigation, quick order placement. Limited analysis tools, but as a trading execution app, it sets the standard. Rating: 4.6/5 (App Store).
CHESS Sponsorship Status
All three brokers are CHESS sponsored for ASX equities, meaning your shares are registered directly in your name via a Holder Identification Number (HIN).
- CommSec: CHESS sponsored. HIN starts with X.
- Selfwealth: CHESS sponsored via FNZ Custodians (Australia) Pty Ltd as CHESS sponsor.
- Stake: CHESS sponsored. HIN starts with X.
For international holdings, the picture differs. US shares on all three platforms are held in a custodian/nominee structure (this is standard -- CHESS only applies to ASX securities).
International Access
| Feature | CommSec | Selfwealth | Stake |
|---|---|---|---|
| US market | Yes (via CommSec International) | Yes | Yes |
| UK market | Yes | No | No |
| Hong Kong | No | Yes | No |
| Other markets | Yes (selected) | No | No |
| FX conversion | Varies by product | Included in trade | 0.55% on funding |
CommSec offers the broadest international access, Selfwealth adds Hong Kong alongside the US, and Stake focuses on US equities only.
Data and Research Quality
CommSec: The clear winner. Real-time ASX data included. Analyst reports, company research, Morningstar ratings, and sector analysis available within the platform. CommSec Pro adds Level 2 data.
Selfwealth: Basic company data and fundamentals. No proprietary research. Delayed data unless you pay for real-time upgrades. The community insights (popular holdings, portfolio performance) are a unique data source.
Stake: Minimal research. Basic company information and price data. No analyst reports, no screening tools. You are expected to source your own research.
Cost Analysis Over Time
Here is what each broker costs at three trading frequencies, assuming an average position size of $5,000 (which falls in CommSec's $3,001-$10,000 tier at $19.95 per trade):
5 Round Trips Per Month (Moderate)
| Broker | Monthly cost | 6-month cost | Annual cost |
|---|---|---|---|
| Stake | $30 | $180 | $360 |
| Selfwealth | $95 | $570 | $1,140 |
| CommSec | $200 | $1,197 | $2,394 |
10 Round Trips Per Month (Active)
| Broker | Monthly cost | 6-month cost | Annual cost |
|---|---|---|---|
| Stake | $60 | $360 | $720 |
| Selfwealth | $190 | $1,140 | $2,280 |
| CommSec | $399 | $2,394 | $4,788 |
20 Round Trips Per Month (Very Active)
| Broker | Monthly cost | 6-month cost | Annual cost |
|---|---|---|---|
| Stake | $120 | $720 | $1,440 |
| Selfwealth | $380 | $2,280 | $4,560 |
| CommSec | $798 | $4,788 | $9,576 |
At 10 round trips per month, CommSec costs $4,068 more per year than Stake. On a $20,000 account, that is a 20% annual drag from brokerage alone -- before you have made or lost a single dollar on your actual trades.
Hidden Costs to Watch For
Brokerage is not the only cost. Here are the fees that do not show up in headline comparisons:
Data fees: CommSec Pro (IRESS) costs $55/month unless you make 10+ trades/month. Selfwealth charges for real-time data upgrades. Stake includes basic data but no depth.
Inactivity fees: None of these three brokers currently charge inactivity fees for share trading accounts. CMC Markets, by comparison, charges $15/month after 12 months of inactivity.
Transfer fees: Moving your HIN to a new broker is free from most brokers, but processing takes 2-5 business days. Stake charges no transfer fee. Selfwealth charges no transfer fee. CommSec charges no transfer fee for off-market transfers. Always check current policy before initiating.
FX fees: Stake charges 0.55% on currency conversions for US trades. CommSec International has variable FX spreads. Selfwealth includes FX in the flat brokerage fee.
Corporate actions: All three handle dividends, rights issues, and share splits, but processing times and communication quality vary. CommSec is generally the fastest and most transparent here.
When Each Broker Is the Right Choice
Choose CommSec if:
- You already bank with CBA and value the direct integration
- You want research, charting, and screening tools in one platform
- Your account is large enough ($50,000+) that brokerage is a small percentage
- You want access to IRESS for Level 2 data and advanced order types
- You are willing to pay more for a complete platform experience
Choose Selfwealth if:
- You want flat-fee simplicity with decent platform quality
- Your typical position size is $5,000+ (where Selfwealth becomes cheaper than CommSec)
- You value the community features and anonymised portfolio insights
- You want US and Hong Kong market access alongside ASX
- You are comfortable supplementing the platform with TradingView for charting
Choose Stake if:
- Minimising brokerage is your top priority
- You have a smaller account ($5,000-$20,000) where fee drag matters most
- You do your analysis on a separate platform and need a broker purely for execution
- You prefer a mobile-first trading experience
- You trade frequently (the savings compound with every trade)
Migrating Between Brokers: How to Transfer Without Selling
If you want to switch brokers, you do not need to sell your existing holdings. Because all three brokers are CHESS sponsored, you can transfer your shares by moving your HIN from one broker to another.
The process:
- Open an account with your new broker (the target broker)
- Request a broker-to-broker transfer through the new broker's platform -- look for "transfer shares" or "transfer HIN" in their forms or settings
- Provide your current HIN and account details -- the name and address must match exactly between accounts
- Wait 2-5 business days for the transfer to process through CHESS
- Verify your holdings appear in your new broker account
The transfer does not trigger a capital gains tax event because you are not selling. Your cost base and acquisition dates are preserved. Once the transfer completes, your shares are sponsored by the new broker and you trade through them going forward.
One consideration: during the transfer window, you cannot trade the transferring holdings. If you have open swing trades with active stop losses, either close them before initiating the transfer or wait until you are flat.
The Practical Recommendation
For most swing traders, the decision comes down to a simple question: do you need your broker to be your analysis platform, or just your execution platform?
If you want everything in one place -- charting, screening, research, news, and execution -- CommSec or CMC Markets (not compared here but worth considering for its free charting) are the answer. You pay more per trade, but the integrated workflow has value.
If you are happy using TradingView (free tier) or SwingFolio for analysis and your broker purely for placing trades, Stake at $3 per trade is the most cost-efficient choice on the ASX. The annual savings fund a TradingView subscription several times over and still leave you ahead.
Selfwealth sits in between and works well for traders who want more than Stake offers but find CommSec too expensive. The $9.50 flat fee is fair value for a functional platform with CHESS sponsorship and international access.
Disclaimer: This article is general information only and does not constitute financial advice. Brokerage fees, platform features, and account structures may change at any time. The fees listed were accurate as of April 2026 based on publicly available information from each broker's website. Always verify current pricing directly with the broker before opening an account. The mention of specific brokers is not an endorsement or recommendation. Consider your personal financial situation, trading frequency, and platform requirements before choosing a broker. Consider consulting a licensed financial adviser.