Share Trading comparison
Interactive Brokers Australia vs tastytrade
Interactive Brokers Australia is a full-blown global broker with access to 135+ markets, ASX trading and CHESS custody. tastytrade is a US-only options specialist with zero-commission US trades but no ASX support at all. The biggest practical difference: IBKR lets you trade Australian shares under your own HIN; tastytrade doesn't touch the ASX.
Choose
Interactive Brokers Australia
if…
- ›You want to trade ASX shares and ETFs under CHESS sponsorship with your own HIN
- ›You need access to global markets — US, UK, Europe, Asia, Canada and more from one account
- ›You want ultra-low brokerage on ASX trades (from $6) and US trades (from $1 USD)
- ›You plan to invest via an SMSF or trust structure
- ›You want to automate regular investments with a DCA feature
Choose
tastytrade
if…
- ›You trade US options actively and want zero commission on US stocks, ETFs and options
- ›You want free real-time US market data without paying a monthly fee
- ›You prefer a simpler, US-focused platform built specifically for options traders
- ›You're happy to fund your account via international wire and don't need ASX trading at all
- ›You want educational video content tailored to options strategies
Where they differ
| Fact | Interactive Brokers Australia | tastytrade |
|---|---|---|
| ASX trading | Yes — ASX shares and ETFs supported under CHESS custody | No — tastytrade does not offer ASX trading |
| US brokerage | From $1 USD or 0.05% of trade value | $0 USD — zero commission on US stocks, ETFs and options |
| Global market access | 135+ markets across 33 countries | US markets only |
| CHESS sponsorship | Custodian model (no individual HIN) | Custodian model (no individual HIN) |
| Australian tax reporting | Australian tax statement provided | No Australian tax statement |
Verdict
Choose Interactive Brokers if you need ASX access and global markets; pick tastytrade if you only trade US options and want zero commissions.
Cost calculator
What would Interactive Brokers Australia vs tastytrade actually cost you?
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All data points side-by-side
Every verified fact for both platforms. Differences are highlighted.
| Field | Interactive Brokers Australia | tastytrade |
|---|---|---|
| account structure | ||
| CHESS sponsorship model | custodian | custodian |
| Individual HIN | No | No |
| Individual account | Yes | Yes |
| Joint account | Yes | Yes |
| Company account | Yes | Yes |
| Trust account | Yes | Yes |
| SMSF account | Yes | No |
| Kids / minor account | No | No |
| asset coverage | ||
| ASX shares supported | Yes | No |
| ASX ETFs supported | Yes | No |
| 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 | |
| Fractional shares (ASX) | No | No |
| Fractional shares (US) | Yes | No |
| Options trading | Yes | Yes |
| CFDs supported | Yes | No |
| Managed funds | No | No |
| Bonds supported | Yes | Yes |
| IPO access | No | No |
| costs hidden | ||
| FX spread (AUD/USD) | 0.002% | — |
| FX spread (other currencies) | 0.002% | — |
| 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. | Standard US corporate action processing applies (dividends, splits, mergers). Mandatory corporate actions are processed at no fee; voluntary corporate actions (e.g. tender offers) may incur a fee per tastytrade's fee schedule. |
| costs visible | ||
| ASX brokerage minimum | $6 | — |
| ASX brokerage percentage | 0.08% | — |
| ASX free trade conditions | — | Not applicable — tastytrade does not offer ASX trading. |
| US brokerage minimum | US$1 | US$0 |
| 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 | — |
| Off-market transfer fee | $0 | — |
| identity and trust | ||
| Legal entity name | Interactive Brokers Australia Pty Ltd | tastytrade, Inc. |
| AFSL number | 453,554 | — |
| Year founded | 1,978 | 2,017 |
| Parent / ownership | Interactive Brokers Group, Inc. (NASDAQ: IBKR) | IG Group Holdings plc (LSE: IGG) |
| Country of incorporation | AU | US |
| Public company status | public | public |
| money movement | ||
| Minimum initial deposit | $0 | $0 |
| Minimum subsequent purchase | $0 | $0 |
| Deposit methods | Bank transfer (EFT), BPAY, International wire (SWIFT) | international wire (USD), ACH (US only), check (US only) |
| Settlement period | T+2 for ASX, T+1 for US equities | T+1 (US equities/ETFs, from May 2024) |
| Withdrawal time | 1-3 business days for AUD EFT; same day possible for AUD instant transfers within Australia | International wire withdrawals to AU typically 3-5 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 | No |
| 2FA support | authenticator app | authenticator app |
| Customer support channels | phone, email, live chat, in-app secure message | phone, email, live chat |
| Support hours (AU time) | 24 hours, Monday to Friday (Sydney) — local AU phone support during business hours; global desks cover overnight | Monday-Friday, approx. 7am-5pm US Central Time = approx. 10pm-8am AET (next day). Weekend support limited. No AU business-hours coverage. |
| Education content | video + courses | video + courses |
| tax and reporting | ||
| Australian tax statement | Yes | No |
| Distribution component breakdown | No | 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 | No |
| Auto-invest sophistication | multiple | none |
| DRP (dividend reinvestment) | No | No |
| After-hours / overnight trading | Yes | Yes |