Share Trading comparison
Interactive Brokers Australia vs SelfWealth
The biggest difference between Interactive Brokers and SelfWealth comes down to ownership structure. Interactive Brokers is a CHESS-custodian model — you don't get your own HIN, but you pay rock-bottom brokerage ($6 ASX trades) and get access to 30+ global markets. SelfWealth gives you your own HIN under a mixed model, charges $9.50 per ASX trade, and keeps things simpler with ASX and US stocks only.
Choose
Interactive Brokers Australia
if…
- ›You trade frequently and want ASX brokerage from $6 (0.08%) plus US trades from US$1 (0.05%)
- ›You want access to 30+ global markets including Canada, Europe and Asia under one login
- ›You need advanced tools like options, CFDs, bonds and fractional US shares
- ›You're comfortable with a custodian model (no individual HIN) for lower costs
- ›You want zero account fees, zero inactivity fees and near-zero FX spreads (0.002%)
Choose
SelfWealth
if…
- ›You want your own HIN and CHESS-sponsored holdings on the ASX for direct share ownership
- ›You prefer a simple, no-frills platform focused on ASX and US shares without options or CFDs
- ›You want to set up a minor/kids account — SelfWealth supports it, Interactive Brokers doesn't
- ›You plan to use DRP (dividend reinvestment) — SelfWealth offers it, Interactive Brokers doesn't
- ›You want OSKO instant deposits and a straightforward $500 minimum to get started
Where they differ
| Fact | Interactive Brokers Australia | SelfWealth |
|---|---|---|
| ASX brokerage (minimum) | $6 | $9.50 |
| US brokerage (minimum) | US$1 | US$9.50 |
| FX spread (AUD/USD) | 0.002% | 0.6% |
| CHESS model / HIN | Custodian — no individual HIN | Mixed — individual HIN available |
| Markets available | 30+ countries | Australia, US, Hong Kong |
Verdict
Choose Interactive Brokers for low-cost global trading; choose SelfWealth if you want your own HIN and a simpler Australian-focused experience.
Cost calculator
What would Interactive Brokers Australia vs SelfWealth 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 | SelfWealth |
|---|---|---|
| account structure | ||
| CHESS sponsorship model | custodian | mixed |
| Individual HIN | No | Yes |
| Individual account | Yes | Yes |
| Joint account | Yes | Yes |
| Company account | Yes | Yes |
| Trust account | Yes | Yes |
| SMSF account | Yes | Yes |
| Kids / minor account | No | Yes |
| 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 | HK |
| Fractional shares (ASX) | No | No |
| Fractional shares (US) | Yes | No |
| Options trading | Yes | No |
| CFDs supported | Yes | No |
| Managed funds | No | No |
| Bonds supported | Yes | No |
| IPO access | No | — |
| costs hidden | ||
| FX spread (AUD/USD) | 0.002% | 60% |
| FX spread (other currencies) | 0.002% | — |
| Holds USD account | Yes | Yes |
| FX currency switch trick | 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 | $9.5 |
| ASX brokerage percentage | 0.08% | — |
| ASX free trade conditions | — | Selfwealth Premium subscribers ($29/month or $240/year) receive 10 complimentary trades annually; otherwise no free-trade conditions. |
| US brokerage minimum | US$1 | US$9.5 |
| US brokerage percentage | 0.05% | — |
| 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 | $27.5 |
| identity and trust | ||
| Legal entity name | Interactive Brokers Australia Pty Ltd | SelfWealth Pty Ltd |
| AFSL number | 453,554 | 421,789 |
| Year founded | 1,978 | 2,012 |
| Parent / ownership | Interactive Brokers Group, Inc. (NASDAQ: IBKR) | Syfe (Svava Pte Ltd, Singapore) |
| Country of incorporation | AU | AU |
| Public company status | public | private |
| money movement | ||
| Minimum initial deposit | $0 | $500 |
| Minimum subsequent purchase | $0 | $0 |
| Deposit methods | Bank transfer (EFT), BPAY, International wire (SWIFT) | OSKO, BPAY, EFT/bank transfer |
| Settlement period | T+2 for ASX, T+1 for US equities | T+2 |
| Withdrawal time | 1-3 business days for AUD EFT; same day possible for AUD instant transfers within Australia | 1-2 business days |
| platform ux | ||
| iOS app | Yes | Yes |
| Android app | Yes | Yes |
| Desktop platform | Yes | No |
| Demo account | Yes | No |
| Free real-time market data | No | No |
| Free research reports | Yes | No |
| 2FA support | authenticator app | authenticator app |
| Customer support channels | phone, email, live chat, in-app secure message | live chat, email, phone |
| Support hours (AU time) | 24 hours, Monday to Friday (Sydney) — local AU phone support during business hours; global desks cover overnight | 10am-4pm AET, Monday-Friday (closed public holidays) |
| Education content | video + courses | basic articles |
| tax and reporting | ||
| Australian tax statement | Yes | Yes |
| Distribution component breakdown | No | — |
| CGT calculator / report | Yes | No |
| 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 |