Key takeaways
- Buying US shares can involve a currency-conversion cost as well as brokerage.
- An FX percentage can be applied to the converted amount, so the dollar impact grows with the amount exchanged.
- A low brokerage headline does not by itself mean a low total transaction cost.
- Check whether the published FX rule applies when funding, buying, selling or withdrawing because platforms structure conversion differently.
Live provider evidence
Current verified FX rules in TradingGuide Australia
A source-linked snapshot of verified FX-conversion rules in the platform dataset. It is evidence, not a cheapest-platform ranking.
| Provider / rule | Published FX rule | Scope | Evidence |
|---|---|---|---|
| CMC Invest | 0.6% International orders FX spread | Offering-wide CMC Invest publishes a 0.60% FX spread for international orders. This calculator estimates the spread cost on the AUD amount entered; the actual execution exchange rate can still move. | Verified 26 Sept 2026 Official source ↗ |
| CommSec | 0.55% Foreign exchange conversion fee | Offering-wide Charged per currency conversion. Conversions happen automatically for each international trade unless the Plus foreign-currency wallet is active and funded. Currency pairs that can't be converted directly are charged for each leg. | Verified 26 Sept 2026 Official source ↗ |
| eToro Share Trading | Free AUD account to Australian stocks | ASX Eligibility criteria for the AUD account apply. | Verified 22 Sept 2026 Official source ↗ |
| Interactive Brokers | 0.03% Automated currency conversion | Offering-wide IBKR's automated currency conversion service rate, applied when a trade requires converting AUD to buy a foreign-currency security. A lower client-initiated standalone conversion rate of 0.002% (minimum US$2.00) is available if you convert currency manually ahead of time instead. | Verified 22 Sept 2026 Official source ↗ |
| moomoo | Exchange rate shown before confirmation Currency conversion | Offering-wide Moomoo confirms currency conversion is available and displays the exchange rate before submission. A current fixed AUD/USD percentage was not sufficiently verified from the official AU sources reviewed, so Trading Guide does not infer one. | Verified 22 Sept 2026 Official source ↗ |
| Pearler | 0.5% US Invest currency conversion | Offering-wide Published for Pearler US Invest. | Verified 28 Sept 2026 Official source ↗ |
| Stake | 0.55% Foreign exchange conversion (AUD to USD funding) | Offering-wide Charged when converting AUD to USD to fund Wall St trading, not on each individual trade. No separate per-trade FX fee for Wall St orders once funded. | Verified 22 Sept 2026 Official source ↗ |
Live evidence is drawn from TradingGuide Australia's structured provider records and links back to the recorded official source. Pricing and product terms can change; verify the current provider terms before acting.
Where an FX fee fits into a US-share purchase
If you start with Australian dollars and the trade requires US dollars, money has to be converted somewhere in the transaction path. Moneysmart lists foreign-exchange fees among the costs that may apply when Australians buy overseas shares.
The useful question is not simply whether a platform advertises low brokerage. Trace the money from AUD to the foreign market and identify where conversion happens, what rate or spread is used and whether another fee is stated separately.
Visual explainer
A simple international-share cost path
A$ funding
Start in AUD
FX conversion
AUD → USD
Brokerage
If applicable
US shares
Order executes
How to read a published FX rule
Start with the calculation basis. A percentage fee is easier to model than a variable spread, but the percentage still needs a clear base: the amount converted, the trade value or another published amount. If the provider describes a variable conversion rate or spread, do not turn it into a fixed number without evidence.
- Check the currency pair and market the rule covers.
- Check whether the percentage is a fee, a spread or a markup to an exchange rate.
- Check whether conversion happens automatically for every trade or only when the account lacks the foreign currency.
- Check whether minimums, tiers or other conditions apply.
Worked example: why trade size matters
Suppose a hypothetical platform charges 0.50% on A$2,000 converted for a US-share purchase. The conversion charge would be A$10 before considering brokerage or other costs. At A$10,000, the same percentage would represent A$50. These figures illustrate the maths only; they are not a claim about any provider.
Visual explainer
Percentage FX example
A$2,000 converted
- 0.50% × A$2,000
- A$10 illustrative FX cost
A$10,000 converted
- 0.50% × A$10,000
- A$50 illustrative FX cost
A better way to compare international-share costs
Compare the parts separately: brokerage, FX conversion, recurring platform charges and any market-specific or pass-through costs that are relevant to your scenario. Keeping them separate makes unknown or variable components visible instead of quietly treating them as zero.
- Model the amount you actually expect to convert.
- Compare both buy and sell paths if conversion can occur in both directions.
- Use official fee schedules and note the verification date.
- Recheck fees before placing a trade because pricing can change.
Use this guide with live TradingGuide Australia research
Sources
Sources were reviewed on 29 September 2026. Provider pricing and product terms can change; verify current terms with the provider before acting.