By Paul Feeney
To buy shares or ETFs listed on the Australian Securities Exchange (ASX), you need a brokerage account. It's the essential first step for anyone who wants to start investing in the Australian share market — and it's something a lot of people haven't set up before and aren't quite sure how to approach.
Here's what a brokerage account is, how to open one in Australia, and what to look for when choosing an online broker.
What is a brokerage account?
A brokerage account is an account that lets you buy and sell investments — shares, ETFs, bonds and other listed securities — on the stock market. It's provided by a broker (or online trading platform), who acts as the intermediary between you and the exchange.
When you want to buy an ASX ETF, for example, you place an order through your brokerage account. The broker executes the trade on your behalf, and the investment is held in your account. Your brokerage account is effectively the gateway to investing in Australia outside of super.
What types of brokers are available in Australia?
Online brokers
The most common choice for self-directed investors who want to manage their own portfolio. Online brokers in Australia provide a platform — usually an app or website — where you can research, buy and sell investments yourself. Fees vary significantly: some charge a flat fee per trade, others offer subscription models with unlimited trades. Examples include CommSec, SelfWealth, Stake and Pearler, among others.
Full-service brokers
These provide investment recommendations and advice alongside trade execution. They charge significantly higher fees than online brokers and are typically used by investors with larger, more complex portfolios.
What to look for when choosing an online broker in Australia
Trading fees — for online brokers, brokerage fees per trade typically range from $0 to around $20, depending on the platform and trade size
What you can invest in — most online brokers offer ASX-listed shares and ETFs; some also offer access to US shares and international markets
Platform quality — is it easy to use and does it give you the information you need to make decisions?
CHESS sponsorship vs custodial model — CHESS-sponsored accounts register shares directly in your name with ASX's settlement system; custodial models mean the broker holds them on your behalf
ASIC regulation — make sure any online broker you use in Australia is licensed and regulated by ASIC
What do you need to open a brokerage account in Australia?
Requirements vary slightly between platforms, but in general you'll need:
An Australian bank account
A Tax File Number (TFN)
Proof of identity — typically a driver's licence or passport
To be at least 18 years old (some brokers offer accounts for minors with parental consent)
The process for how to open a brokerage account in Australia is usually completed online and can take anywhere from a few minutes to a couple of business days, depending on identity verification requirements.
How to buy ETFs through a brokerage account
Once your brokerage account is open and funded, buying an ETF is straightforward. You search for the ETF's ASX ticker code — for example, VAS for the Vanguard Australian Shares ETF or VGS for the Vanguard MSCI Index International Shares ETF — and place a buy order for the number of units you want.
Orders can typically be placed as market orders (executed immediately at the current market price) or limit orders (executed only if the price reaches a specified level you set). Most online brokers in Australia make this process simple.
Is having a brokerage account enough to start investing?
A brokerage account gives you access to thousands of investment products — but access isn't guidance. Knowing how to open a brokerage account in Australia is different from knowing which investments are appropriate for your circumstances.
Before using your share trading account to make investment decisions, it may be worth getting personal advice on which ETFs or other investments are actually suited to your goals, timeframe and risk tolerance. Otivo provides licensed personal investing advice, so you can approach your brokerage account with a clear, informed plan rather than starting from scratch alone.
The information in this communication is current as at April 2026 and has been prepared by Otivo Pty Ltd ABN 47 602 457 732, AFSL and Australian Credit Licence No. 485665. This content is general information only and has been prepared without taking into account your objectives, financial situation or needs. It is not personal financial or taxation advice and should not be relied on as such. Before acting on any information, you should consider its appropriateness having regard to your personal circumstances. This material must not be reproduced in whole or in part, or posted on any social media platform, without the prior written consent of Otivo Pty Ltd.