Best $0 Brokerage Broker for US ETFs & Stocks

dpk on 12/01/2022 - 22:20
Last edited 12/01/2022 - 22:30

Which US brokers people are using for US ETFS & Stocks.

FX Conversion Fee:
Charles Schwab (?), eToro (50bps), Interactive Brokers (?), IG (0.7%), CMC Markets (0.6%), Stake (0.7%), Superhero (0.5%)

Almost all of them offer Free brokerage for US ETFs & Stocks
There is a difference in a FX Conversion Fee if money transferred in AUD.
Which brokers allow USD Deposit? I think Charles Schwab, eToro allow USD Deposits.
Which brokers have better tools, watchlists & Alerts etc.
Brokers which Australians can open.

Financial

Comments

  • benwaffle on 13/01/2022 - 02:40
    +1

    IBKR has the best FX. Brokerage is cheap but not free for US trades
    CS has the best UI and free brokerage but FX is a bit steep compared with IBKR

    • vis on 13/01/2022 - 07:41

      Do you know what FX% fee for IBKR? can't find it in their website. Also brokerage 1.0% of trade value so most expensive of all.

      • benwaffle on 13/01/2022 - 14:34

        It's pretty close to spot FX rate (2 basis points) Brokerage is max of 1% and minimum of 35cents.

    • dpk on 13/01/2022 - 11:34

      I think IBKR brokerage for US Etfs is free

      • benwaffle on 13/01/2022 - 14:33

        Only some etfs

  • Shadowsfury on 13/01/2022 - 08:38

    Just keep in mind some brokers make you convert back and forth with AUD for every trade - so the FX fee adds up really quickly. Others (I can only say stake as I use them) you only pay the FX fee once when you convert your money across, and once when you would like to cash out completely

    • dpk on 13/01/2022 - 09:15

      Do you know which one will do FX conversion for every trade?

      • Shadowsfury on 17/01/2022 - 12:19

        Sorry I don't probably have to google for comments on them

  • fullmetal on 13/01/2022 - 10:42

    I use CS and deposit through wise.

  • parcus on 13/01/2022 - 10:53
    +1

    Can vouch for superhero, been using them for a couple of months now for US trading (moved all of my AU trading to stake for cheaper brokerage + chess), 0.5% fx fee as cheap as it gets (and only on transferring in and out of the USD wallet, not per trade), PayID for immediate transfers into AUD and then immediate again for transferring to USD wallet, allows limit orders for fractional trades (not a lot of talk about this but it's a big issue imo that stake only lets you order at market for fractional shares), decent barebones app but not fantastic- go elsewhere for charting and real time updates in your lists, small bonus but you also get qantas points too for transfers, so far no issues with order execution BUT twice in all those months the app has had brief server issues

    • dpk on 13/01/2022 - 11:35

      Stake is best for ASX, Trying to find out what is best for US ETFs.
      Does Superhero allow USD Deposits through Wise.

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