Which is cheaper - Stake or IB for US shares/ETF?

I am planning to invest significant amount ~500K AUD over period of time through a SMSF trading account. Hunting for the cheapest broker.

1. Stake charges 0.7% FX but $0 for trading. (So FX commission will be $3500 for Buy order - $7000 for sell order, assuming you sell after portfolio has doubled)
2. In comparison, IB pricing is little confusing for me. Is it USD 0.0035 per share for < 300K shares per month? So assuming 250 shares ($2k per share and order size of $500K USD) , brokerage will be only $0.875 USD ? Is brokerage same for ETFs as well? What are their FX rate charges? Commissions | Interactive Brokers Australia Pty. Ltd.

 

@Hockey Monkey pls help here !

 

I used stake to to purchase BRK-B. They are my only foreign direct holding and obviously a buy-hold.

Was it cheaper? I dont know, but the price was fair enough imo and it was simple.

 

IBKR FX is only 0.002%. Small brokerage costs are going to be insignificant compared with was Stake FX costs are.

definitely IBKR for non ASX trading

 

Thanks i will go with IBKR for US and Stake for Australia- both for individual and SMSF trading account

 

From PassiveInvestingAustralia.com

Online trading platforms comparison

FX Fees are where they get you

Stake and Superhero advertise as FREE TRADES, but their foreign currency exchange FX fees are enormous. They advertise as FREE TRADES to get people who don't even look any further. For those who look further, they mention the FX as 70bps, which you would think is 0.70% since 1bps literally means 1/10,000th, but due to what I explain in the next section, it is actually around 1%.

For a $5k purchase, this is $50.

How would you react if someone suggested paying $50 for each ASX trade? Why are you not reacting the same way with US stocks? Wake up.

SelfWelath is actually a little more expensive for trades under $10k due to the $9.50 *USD* fee on top of the slightly lower 60bps FX fee.

CMC Markets is 0.60% with no additional trade fee but beware of the third heading below about having no USD currency account.

Pearler 0.5% FX + $6.50 AUD

Banks are all expensive a.f. obviously.

IBKR is the standout with FX fees of 0.002% at 250-500 times cheaper than Aussie brokers. For $5k, that is 10c (yes, you read that right). Their US trading fees are half a US cent per share, min $1 USD, so except for penny stocks, it is $1 USD or $1.40 AUD.