share trading alternatives

Alternatives to moomoo

moomoo is known for low-cost CHESS-sponsored trading with ASX trades from $3 and US trades from $0.99, plus fractional US shares and no platform fee. It's a solid choice for active traders who want cheap US market access. But you might want an alternative if you prefer a community-focused platform, need kids or minor accounts, want a bank-owned broker, or prefer a different ownership model like custodian-based investing. We've listed 7 alternatives that each offer something moomoo doesn't, from lower ASX fees to broader global market access.

By Investmatch Research Team · Last updated 18 May 2026

#1 alternative

Pearler

Community-focused CHESS-sponsored investing from $6.50. Auto-invest, kids accounts, US fractional shares.

Community-focused platform with auto-invest and kids accounts, plus US fractional shares from $6.50.

ASX brokerage minimum: $6.5(moomoo: $3)
ASX ETFs supported: Yes
CHESS sponsorship model: mixed(moomoo: chess)

Full Pearler breakdown →Side-by-side with moomoo

#2 alternative

Webull

CHESS-sponsored ASX trading from $1, plus zero-commission US shares and fractional US shares.

ASX trades from $1 and zero-commission US shares, making it cheaper for frequent ASX traders.

ASX brokerage minimum: $1(moomoo: $3)
ASX ETFs supported: Yes
CHESS sponsorship model: chess

Full Webull breakdown →Side-by-side with moomoo

#3 alternative

Superhero

Custodian-held ASX & US trading from $2 brokerage. Fractional US shares, no platform fees.

Custodian model with ASX trades from $2 and fractional US shares, no CHESS sponsorship required.

ASX brokerage minimum: $2(moomoo: $3)
ASX ETFs supported: Yes
CHESS sponsorship model: custodian(moomoo: chess)

Full Superhero breakdown →Side-by-side with moomoo

#4 alternative

CommSec

CBA-owned CHESS-sponsored trading from $5 brokerage on ASX and US shares.

CBA-owned CHESS-sponsored broker with bank integration, kids accounts, and ASX trades from $5.

ASX brokerage minimum: $5(moomoo: $3)
ASX ETFs supported: Yes
CHESS sponsorship model: chess

Full CommSec breakdown →Side-by-side with moomoo

#5 alternative

Interactive Brokers Australia

Custodian-held ASX trading from $6, plus 30+ global markets and US fractional shares.

Access to 30+ global markets with US trades from $1, ideal for international diversification.

ASX brokerage minimum: $6(moomoo: $3)
ASX ETFs supported: Yes
CHESS sponsorship model: custodian(moomoo: chess)

Full Interactive Brokers Australia breakdown →Side-by-side with moomoo

#6 alternative

CMC Invest

CHESS-sponsored ASX trading from $11, plus commission-free US shares and 14 global markets.

Commission-free US shares plus 14 global markets, with CHESS sponsorship for ASX holdings.

ASX brokerage minimum: $11(moomoo: $3)
ASX ETFs supported: Yes
CHESS sponsorship model: chess

Full CMC Invest breakdown →Side-by-side with moomoo

#7 alternative

Vanguard Personal Investor

Custodian-held Vanguard ETFs and ASX shares with zero brokerage, no platform fee, from $200.

Zero brokerage on ASX shares and Vanguard ETFs, perfect for low-cost passive investing.

ASX brokerage minimum: $0(moomoo: $3)
ASX ETFs supported: Yes
CHESS sponsorship model: custodian(moomoo: chess)

Full Vanguard Personal Investor breakdown →Side-by-side with moomoo

Common questions

Is moomoo CHESS-sponsored?

Yes, moomoo is CHESS-sponsored for ASX trades, meaning your Australian shares are held in your own HIN under your name. This is the same level of ownership protection you get with most major Australian brokers.

Can I transfer my portfolio from moomoo to another broker?

Yes, you can transfer your ASX holdings to another CHESS-sponsored broker using a standard broker-to-broker transfer. Your HIN can move with you, or a new HIN can be created. US shares held in custody may need a different transfer process.

What are the downsides of switching from a CHESS-sponsored broker to a custodian broker?

With a custodian broker, shares are held in the broker's name rather than your own HIN. This can mean faster settlement and lower fees, but you lose direct CHESS ownership. Dividend payments and corporate actions are still passed on to you.

Does moomoo offer SMSF accounts?

Yes, moomoo supports SMSF accounts, allowing self-managed super funds to trade ASX and US shares through the platform. This is a common feature among modern brokers, though not all offer it.

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