moomoo vs Stake: Fees Compared for ASX and US Shares

These two are identical on the ASX, to the dollar: both CHESS sponsored with a HIN in your own name, no account fee either side, and the same A$360 over ten years on an ASX-only plan. On US shares they separate, and it is the currency conversion rather than the brokerage that does it. Here are the figures, so here they are, read off both platforms' own fee schedules on 19 September 2026, GST included and US dollars converted at the RBA rate of 0.7126 for 18 September 2026.

The short version

On a single ASX purchase both charge A$3, until the order passes A$10,000, where moomoo's 0.03% takes over. On a US purchase moomoo charges US$0.99 where Stake charges US$3. But moomoo converts currency at about 0.70% against Stake's 0.55%, which cancels that advantage above A$1,856 an order. Over ten years at A$1,000 a month it is A$360 each on ASX-only, A$685 against A$763 on a half and half plan, and A$1,009 against A$1,165 on US-only.

One number that belongs beside all of that: moomoo publishes transfer-out fees of A$55 per ASX holding and US$50 per US holding. It is paid once, in a lump, and it appears in no ten-year table on this page.

What one purchase costs on each

All figures in Australian dollars, GST included. The US columns are the full cost of the purchase, brokerage plus each platform’s own currency conversion.

• moomoo, ASX: the greater of A$3 or 0.03% of trade value. The A$3 holds until the order reaches A$10,000, then the percentage takes over.
• Stake, ASX: A$3 flat up to A$30,000, then 0.01%.
• US brokerage: US$0.99 flat at moomoo, US$3 up to US$30,000 at Stake. Each US column adds that platform’s own conversion on top: about 0.70% at moomoo, 0.55% at Stake.

The columns line up at three of the four ASX sizes. That is the whole story of this pair in one table.

Where the two are identical

Your ASX shares sit in your own name. Both are CHESS sponsored, so your holdings go on the ASX register under your own Holder Identification Number rather than into an account the platform owns. Moving later is a transfer of your holdings, buy dates and cost base rather than a sale. CHESS sponsorship explained covers what that buys you.

Currency conversion, and this one is not identical. Stake charges 0.55%. moomoo publishes its rate in pips rather than as a percentage: an added spread of 50 pips, which is 0.0050 on the AUD/USD rate itself, working out at about 0.70% of the amount converted. Its own guide gives the worked example, A$100 converted costing US$0.50. Neither sets a minimum. That rate does more work on a US trade than the brokerage does. See the full nine-platform comparison for how a conversion spread is actually calculated.

Account fees. Neither charges one. That is custody, conversion and account fees all square before a single dollar of brokerage gets compared.

The US gap: US$0.99 against US$3

On a US order this is the one place the two separate on every trade. moomoo charges US$0.99 and Stake charges US$3, a difference of US$2.01 an order, about A$2.82 at the RBA rate used here.

Not a big number on a single ticket. The consistency is what matters. Buy US shares once a month for ten years and you place 120 orders: US$118.80 of brokerage at moomoo against US$360 at Stake, roughly A$167 against A$505. A gap of about A$338 across the decade, all of it brokerage.

That brokerage advantage does not survive contact with the conversion rate. moomoo converts at about 0.70% against Stake's 0.55%, and because conversion is a percentage while brokerage is a fixed amount, that 0.15 percentage point gap eventually swallows the US$2.01. The crossover is A$1,856 an order: below it moomoo is the cheaper US purchase, above it Stake is. At A$5,000 it is A$36.49 against A$31.71, and at A$20,000 A$141.79 against A$114.21.

Where the percentage catches moomoo on large ASX orders

The ASX side is level until an order gets big. moomoo charges the greater of A$3 or 0.03%, and 0.03% of A$10,000 is exactly A$3. That is the crossover point. Below it, moomoo charges the minimum and the two bill you the same. Above it, the percentage is larger and grows with the order: a A$20,000 ASX order is A$6.00 at moomoo against A$3.00 at Stake.

Stake's A$3 holds all the way to A$30,000, where its flat rate changes over to 0.01%. There is no cliff at that line, because 0.01% of A$30,000 comes out to exactly A$3. And 0.01% sits below moomoo's 0.03%, so on the published rates Stake's ASX figure stays the lower of the two once orders get large.

Put simply: if your typical ASX order sits under A$10,000, ASX brokerage is a straight tie. If it sits above, the two part company, and the size of the order decides by how much.

Ten years of investing, three ways

A$1,000 a month, 120 purchases, buy and hold, no sales. Taken row by row, the pattern shows itself. On the ASX alone the two are identical, because 120 orders at A$3 is A$360 whichever one you use. Add US shares and the gap appears, and it is brokerage rather than conversion doing the work: US$0.99 against US$3, repeated 120 times.

Scale matters here. A$120,000 goes in over the decade, and the fees, from A$360 to A$1,165, are a thin slice on top of that regardless of platform or mix. It is still true that the mix outweighs the choice of platform, since a US-only plan costs more than an ASX-only one at either broker, because a conversion charge lands on every US purchase and no such charge exists on an Australian order.

One cost sits outside this table altogether: selling. Both platforms charge brokerage on the way out too. Hold your ASX shares for at least 12 months first and you clear the bar for the 50% CGT discount, with the buy dates on your HIN there to prove it.

Three things to know before choosing on the headline rate

None of these changes the arithmetic above. All three belong next to it.

• The conversion wording is not consistent. moomoo's help centre says no fees will be charged on conversion. Its Financial Services Guide sets an added spread of 50 pips built into the exchange rate, charged in both directions. Read the unit carefully: a pip is 0.0001 of the AUD/USD rate, not 0.01% of the amount, so that spread is about 0.70% of what you convert rather than the 0.50% it resembles. The guide's own example is A$100 converted costing US$0.50.
• The US rate excludes pass-through fees. US$0.99 is the platform's charge, not the whole bill. Pass-through fees and other service fees sit on top, so the cost of a US order moves with what the US side levies that day.
• Leaving has a price. moomoo publishes transfer-out fees of A$55 per ASX holding and US$50 per US holding. A portfolio of five ASX holdings is A$275 before you have opened the new account. We have not verified Stake's transfer-out fees, so read its schedule before treating either platform as the easier one to leave.

That last one is why a dollar of brokerage should not decide the whole thing. Exit costs are paid once, in a lump, and they turn up in no ten-year table on this page.

What each one asks of you

moomoo asks you to know where its A$3 minimum stops applying. Keep ASX orders under A$10,000 and you never meet the 0.03%. Cross that line and you do. It also asks you to check what passes through at the US end of a trade, because US$0.99 is not the full bill. moomoo operates through Moomoo Securities Australia Ltd, ABN 51 095 920 648, AFSL 224663.

Stake asks you to remember two flat numbers and one threshold: A$3 on ASX orders up to A$30,000, US$3 on US orders up to US$30,000, then 0.01% on either side. There is no crossover to track below those lines, which makes the arithmetic simpler rather than lower.

Both ask for a W-8BEN form if you buy US shares, both charge brokerage when you sell, and both register ASX shares under your HIN. With the fees accounted for, what actually separates them from here is the app itself, how the reporting reads, and how quickly cash moves, which is a how to choose a platform question rather than a fee question.