Share Trading comparison
Interactive Brokers Australia vs moomoo
The biggest practical difference between these two is CHESS sponsorship. Moomoo is CHESS-sponsored, meaning you get your own HIN and shares are held in your name on the ASX register. Interactive Brokers uses a custodian model, so ASX shares sit in the broker's name. That distinction drives most of the other trade-offs between them.
Choose
Interactive Brokers Australia
if…
- ›You trade across dozens of global markets — IBKR covers 30+ countries including Canada, Europe, Japan and emerging markets
- ›You want the tightest FX spreads available (0.00002% on AUD/USD) for frequent currency conversions
- ›You need a platform that supports bonds, options, CFDs and sophisticated conditional orders in one place
- ›You want zero minimum deposit and no inactivity, withdrawal or transfer fees
- ›You trade large ASX parcels where the 0.08% brokerage (min $6) undercuts most competitors
Choose
moomoo
if…
- ›You want CHESS sponsorship and your own HIN so ASX-listed shares are held directly in your name
- ›You're a smaller ASX trader — moomoo's $3 minimum brokerage is half IBKR's $6
- ›You want free real-time ASX and US market data without paying extra
- ›You trade US stocks regularly — moomoo charges just US$0.99 flat per US trade with 0% commission
- ›You prefer a modern app experience with PayID/OSKO deposits and a simpler sign-up process
Where they differ
| Fact | Interactive Brokers Australia | moomoo |
|---|---|---|
| CHESS model | Custodian (no individual HIN) | CHESS-sponsored (individual HIN) |
| ASX brokerage minimum | $6 | $3 |
| US brokerage minimum | US$1 | US$0.99 flat (0% commission) |
| FX spread (AUD/USD) | 0.00002% | 0.003% |
| Off-market transfer fee | $0 | $55 |
Verdict
Choose IBKR for global markets and rock-bottom FX; choose moomoo for CHESS-sponsored ASX trading and cheaper US commissions.
Cost calculator
What would Interactive Brokers Australia vs moomoo actually cost you?
Punch in your trade size and frequency. We'll do the full brokerage + FX + fees maths.
All data points side-by-side
Every verified fact for both platforms. Differences are highlighted.
| Field | Interactive Brokers Australia | moomoo |
|---|---|---|
| account structure | ||
| CHESS sponsorship model | custodian | chess |
| Individual HIN | No | Yes |
| Individual account | Yes | Yes |
| Joint account | Yes | No |
| Company account | Yes | Yes |
| Trust account | Yes | Yes |
| SMSF account | Yes | Yes |
| Kids / minor account | No | — |
| asset coverage | ||
| ASX shares supported | Yes | Yes |
| ASX ETFs supported | Yes | Yes |
| US shares supported | Yes | Yes |
| US ETFs supported | Yes | Yes |
| Other markets supported | US, Canada, UK, Ireland, Germany, France, Netherlands, Belgium, Spain, Italy, Switzerland, Austria, Sweden, Norway, Denmark, Finland, Poland, Czechia, Hungary, Israel, Hong Kong, Japan, Singapore, China (Stock Connect), South Korea, India, Indonesia, Thailand, Malaysia, Australia, New Zealand, South Africa, Mexico | Hong Kong |
| Fractional shares (ASX) | No | No |
| Fractional shares (US) | Yes | Yes |
| Options trading | Yes | Yes |
| CFDs supported | Yes | No |
| Managed funds | No | No |
| Bonds supported | Yes | No |
| IPO access | No | No |
| costs hidden | ||
| FX spread (AUD/USD) | 0.002% | 0.3% |
| FX spread (other currencies) | 0.002% | 0.3% |
| Holds USD account | Yes | Yes |
| FX currency switch trick | No | No |
| Market data fees | — | $0/month |
| Conditional order fees | $0 | $0 |
| Corporate action fees | Corporate action processing is generally fee-free for standard events (dividends, splits, mergers). Some voluntary corporate actions and ADR pass-through fees apply per the published fee schedule. Mandatory reorganisations are processed at no charge. | — |
| costs visible | ||
| ASX brokerage minimum | $6 | $3 |
| ASX brokerage percentage | 0.08% | 0.03% |
| ASX brokerage threshold | — | $10,000 |
| ASX free trade conditions | — | No standard free trade conditions on ASX. Promotional sign-up rewards have offered free brokerage for limited periods to new clients. |
| US brokerage minimum | US$1 | US$0.99 |
| US brokerage percentage | 0.05% | 0% |
| Monthly platform fee | $0/month | $0/month |
| Annual platform fee | $0/year | $0/year |
| Inactivity fee | $0 | $0 |
| Withdrawal fee (AUD) | $0 | $0 |
| Off-market transfer fee | $0 | $55 |
| identity and trust | ||
| Legal entity name | Interactive Brokers Australia Pty Ltd | Futu Securities (Australia) Ltd |
| AFSL number | 453,554 | 224,663 |
| Year founded | 1,978 | 2,022 |
| Parent / ownership | Interactive Brokers Group, Inc. (NASDAQ: IBKR) | Futu Holdings Ltd (NASDAQ: FUTU) |
| Country of incorporation | AU | AU |
| Public company status | public | public |
| money movement | ||
| Minimum initial deposit | $0 | $500 |
| Minimum subsequent purchase | $0 | $0 |
| Deposit methods | Bank transfer (EFT), BPAY, International wire (SWIFT) | PayID, Bank transfer (OSKO/NPP) |
| Settlement period | T+2 for ASX, T+1 for US equities | T+2 ASX; T+1 US |
| Withdrawal time | 1-3 business days for AUD EFT; same day possible for AUD instant transfers within Australia | 1-3 business days |
| platform ux | ||
| iOS app | Yes | Yes |
| Android app | Yes | Yes |
| Desktop platform | Yes | Yes |
| Demo account | Yes | Yes |
| Free real-time market data | No | Yes |
| Free research reports | Yes | Yes |
| 2FA support | authenticator app | sms |
| Customer support channels | phone, email, live chat, in-app secure message | Phone, Live chat, Email, In-app |
| Support hours (AU time) | 24 hours, Monday to Friday (Sydney) — local AU phone support during business hours; global desks cover overnight | 24/5 during US trading days; 9:30am-9:30pm AET weekends and holidays |
| Education content | video + courses | video + courses |
| tax and reporting | ||
| Australian tax statement | Yes | Yes |
| Distribution component breakdown | No | — |
| CGT calculator / report | Yes | Yes |
| Sharesight / Navexa integration | Yes | Yes |
| trading mechanics | ||
| Market orders | Yes | Yes |
| Limit orders | Yes | Yes |
| Stop loss orders | Yes | Yes |
| Conditional orders | Yes | Yes |
| Auto-invest / DCA | Yes | Yes |
| Auto-invest sophistication | multiple | multiple |
| DRP (dividend reinvestment) | No | Yes |
| After-hours / overnight trading | Yes | Yes |