Betashares Direct Broker - No Brokerage Fee

Goldenchild on 26/09/2025 - 14:35
Last edited 26/09/2025 - 17:16

Hi All,

Has anyone used the Betashares Direct platform? I'm skeptical about their "No Brokerage Fee" claim on the website.

From my experience, Betashares appears to embed their fees into the average cost of the shares purchased. The platform doesn’t offer the option to buy at a target price instead, it uses an average cost model. I tested this with my first transaction, monitoring the live price and purchase amount. The result was a fractional share (e.g., XX.XXX units), not a whole unit.

So while they advertise "No Brokerage Fee," it seems more like a marketing tactic than a genuine cost-free transaction. The fee structure is just hidden in the pricing mechanics.

UPDATE: Require to select the buying limit order to get the whole unit

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Comments

  • brendanm on 26/09/2025 - 15:43
    -1

    Wow, they dont provide their service for free, crazy.

    • Aureus on 26/09/2025 - 17:18

      They actually do, crazy.

      • brendanm on 26/09/2025 - 21:15
        -1

        I've got a bridge to sell you…

        • Aureus on 27/09/2025 - 10:26

          It is free. They make their money by upselling services that do have fees.

  • Pandamony on 26/09/2025 - 16:24
    +1

    I was able to buy at a target price using their app. You need to select a Limit order and set your price. You did a Market order, which is the default option.

    • Goldenchild on 26/09/2025 - 16:27
      -1

      thanks for the tip

  • DingoBilly on 26/09/2025 - 16:58
    +4

    I don't think you're correct. Betashares is pretty direct and a decent company, and a few other platforms are also brokerage fee. If you're saying they're lying and committing fraud that's a pretty big call.

    The main difference is they're a custodial model instead of CHESS. That seems to be how they avoid the brokerage costs as all the free platforms also seem to be custodial based.

    • Goldenchild on 26/09/2025 - 17:09
      -1

      I'm happy to pay the brokerage fees, the purchase stock quantity wasn't whole unit, hence my question on the fees being absorbed into the average cost. As stated by member, I need to select particular buying order to set target price.

    • Mr BoMBAStiG on 27/09/2025 - 06:22

      They would also be pushing their own ETFs and then take management fee

    • s0805 on 28/09/2025 - 18:09

      what's the big deal about CHESS model that makes it expensive than custodian?

  • o53djz7qTPY4der on 27/09/2025 - 18:16

    I use Betashares a lot. They're great and it's pretty transparent.

  • Merish4U on 28/09/2025 - 11:54

    OP is mistaken. Betashares, like a rising number of options are offering brokerage free trades on ETFs. Some fees apply, so DYOR but is a good platform from reports from users.

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