Online Share Trading Platforms with the Lowest Fees

It’s all well and good if the stocks and assets you choose to invest in perform strongly, but if the platform you use has high fees it could easily erode away your returns.

So, here is a list of online share trading platforms on our database that have some of the lowest trading fees on offer. Although, bear in mind that often you get what you pay for. In some cases, the lower fees could mean the broker provides less functionality and features. If you are unsure of how to choose an online share trading platform, check out this article

Trading fees

The most common fee you will incur is typically the trading fee, and more often than not, this fee will change depending on how much you are looking to trade. In the tables below, we have compared fees based on a $15k trade and this should give you a rough idea of how much you may have to pay in trading fees.

But first, what type of investor are you?

The fee structure of online share trading platforms vary from product to product and are often dependent on a few things, including the number of trades a customer is executing and also the amount of brokerage fees they are accruing, for example. Due to this, Canstar’s Research team breaks it down into three categories: casual investor, active investor and trader.  

As most of our readers are likely to be either casual or active traders that’s what we’ll focus on. Here’s our breakdown below: 

What is a casual trader?

Casual investors trade shares about eight times per year with an average transaction value of $15,000 per trade. Casual investors should look for user-friendly client services and support, and general education resources, since they are the most likely to use this. Casual traders should also look for cheap brokerages because fees on trading small amounts can be as much as 40-60% of the amount.

Low-Cost Online Share Trading Platforms on Canstar’s database for casual investors

The comparison table below displays some of the online share trading platforms on Canstar’s database. The products displayed are based on an investor that makes on average one trade per month. The results are sorted by ‘Fees for a $15K trade’ (lowest to highest), then by provider name (alphabetically).

What is an active trader?

Active investors trade shares about 40 times per year with an average transaction value of $15,000 per trade. Active investors may trade managed funds as well as direct shares. Active investors should look for detailed company and market information, and a dynamic trading platform.

Low-Cost Online Share Trading Platforms on Canstar’s database for active investors

The comparison table below displays some of the online share trading platforms on Canstar’s database. The products displayed are based on an investor that makes on average four trades per month. The results are sorted by ‘Fees for a $15K trade’ (lowest to highest), then by provider name (alphabetically).

Note: The brokerage fees may not change between a casual and active investor, but the Star Rating and other aspects may vary for some products. Learn more about our methodology here.  

Other brokerage fees charged

Although not as common as trading fees, there are other brokerages costs you might encounter such as: fail fees, ongoing fees, off market transfer fees, SRN fees and phone brokerage fees. Also, some online share trading platforms have multiple products that may also vary in fees. Therefore, it’s generally a good idea to do your research before deciding on the right online share trading platform for you.

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