Investors looking to buy and sell stocks often look first at recognisable names. Charles Schwab is an investment company that is well known around the world, so it’s no surprise that Australian investors want to know whether they can use it.
In this article, we explain whether Charles Schwab is available in Australia, what you need to open an account, its main limitations, and the best alternatives for Australian investors.
Is Charles Schwab available in Australia?
Yes, Australian residents can apply for a Schwab One International brokerage account. However, there are some important things to understand before using it from Australia.
The account is run by Charles Schwab & Co. in the US, and Schwab notes that non-US residents are subject to country-specific restrictions. You invest in US dollars through a US broker, not through an Australian entity, so your account is covered by US rules (such as SIPC protection) rather than by Australian consumer protections.
How to use Charles Schwab in Australia
To open a Schwab One International account from Australia, you’ll need the following:
- Your tax number: in Australia, this is your TFN (tax file number) issued by the ATO (Australian Taxation Office). You’ll also complete a W-8BEN form, which confirms you are not a US taxpayer;
- Current ID: your passport, Keypass ID, driver’s licence or proof of age card;
- Proof of residence: a recent utility bill or other proof of address showing your full name, address and date;
- Employment details: the name and address of your current employer;
- Digital copies of your documents: to upload them during the application.
These are the other main points to consider before opening a Charles Schwab account in Australia:
- US dollars only: the account is denominated in US dollars, so you’ll pay a currency conversion cost when you move Australian dollars (AUD) into the account;
- $0 commission on US stocks: online trades in US-listed stocks and ETFs have no commission, while options cost US$0.65 per contract;
- Product restrictions: depending on your country of residence, some products may not be available. For example, Schwab states that residents of certain jurisdictions can no longer buy US-registered ETFs, so check what applies to Australia when you apply;
- No minimum deposit: Schwab no longer requires the previous USD 25,000 minimum deposit for international accounts.
Charles Schwab alternatives in Australia
If you’re in Australia, several brokers offer more choice and flexibility than Charles Schwab, and most of them are regulated by ASIC (the Australian Securities and Investments Commission).
Here are some of the best alternatives available in Australia:
eToro | Social trading and 0% commission on ETFs
Established in 2007, eToro is a multi-asset platform where you can invest in stocks, ETFs and cryptocurrencies, and trade CFDs on commodities, FX and other assets. The social trading platform is user-friendly and now offers AUD accounts.
Interactive Brokers | Sophisticated trading tools
Online broker with a sophisticated trading platform and a very wide range of products. Founded in the US, it serves Australians through an ASIC-regulated local entity, and you also get access to the simpler IBKR GlobalTrader app.
Saxo | Great educational resources
Full-service broker offering stocks, ETFs, bonds, options, futures, forex and other products from more than 50 exchanges worldwide, with an ASIC-regulated Australian entity.
Plus500 | Ideal for demo account
Well-established CFD provider offering CFDs on forex, cryptocurrencies, shares, commodities, ETFs, options and indices. Plus500 also provides user-friendly web and mobile apps, with a free demo account to practise.
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
Stake | Simple flat brokerage
An Australian broker founded in 2017, known for its simple app and flat brokerage on US and ASX shares. A good alternative if you mainly want to invest in US stocks.
tastytrade | Excellent discount broker, but US-focused
tastytrade, formerly known as tastyworks, focuses on active traders who want to hone their craft. It offers options, futures, stocks, ETFs and cryptocurrencies on US markets.
TradeStation | Celebrated online broker catering to active traders
TradeStation, a US broker regulated by the SEC and FINRA, accepts Australian residents and remains a popular choice for active traders.
Tiger Brokers | Great for “DIY” traders
A popular choice for retail investors and traders in Australia, Tiger Brokers focuses on an intuitive platform, fast execution and access to ASX, US, Hong Kong and China A-share markets.
| Broker | Fees for US stocks | Minimum deposit |
| eToro | US$2 per trade ($0 on ETFs) | $50 |
| Interactive Brokers | US$0.0035 to US$0.005 per share (max. 1% of trade value) | $0 |
| Saxo | From US$1 per trade | $0 |
| Plus500 | No commission on share CFDs (you pay the spread) | $100 |
| Stake | US$3 per trade (up to US$30,000) | $50 |
| tastytrade | $0 | $0 |
| TradeStation | $0 | $0 |
| Tiger Brokers | US$2 per order (up to 200 shares, then US$0.01 per share) | $0 |
Fees as of September 2026. Other fees, such as currency conversion and third-party fees, may apply.
eToro at a glance
eToro was founded in 2007. It’s known for letting investors buy and sell financial instruments and for its social (copy) trading features. Today, it’s one of the best-known brokers in the world, with more than 40 million registered users, and it has been listed on Nasdaq since May 2025. eToro AUS Capital Limited is regulated in Australia by ASIC (AFSL 491139).
On the platform, you can discuss investments and market news with other investors, and even copy their strategies. The platform offers a wide range of assets for beginners, but also riskier assets, such as cryptocurrencies. You can open a demo account to practise before investing real money, and the mobile app is easy to use, with plenty of educational resources.
Australian clients can now hold an AUD account alongside the USD account. That lets you buy ASX shares without converting currency, while buying US shares from AUD involves a conversion fee from 0.75% (lower for higher eToro Club tiers). A US$2 commission applies when opening and closing stock positions, on the ASX and on all other exchanges, while ETFs, copy trading and Smart Portfolios have no commission. Other fees apply.
eToro AUS Capital Limited AFSL 491139. eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
eToro AUS Capital Limited ACN 612 791 803 AFSL 491139. Social trading. eToro does not approve or endorse any of the trading accounts customers may choose to copy or follow. Assets held in your name. Capital at risk. See PDS and TMD.
This communication is intended for information and educational purposes only and should not be considered investment advice or investment recommendation. Past performance is not an indication of future results. Crypto assets are unregulated & highly speculative. No consumer protection. Capital at risk. May not suffice as basis for investment decision.
Interactive Brokers at a glance
Interactive Brokers is an excellent broker for Australian traders and investors. The company was founded in 1978 and serves Australian clients through Interactive Brokers Australia Pty Ltd, regulated by ASIC (AFSL 453554). It is one of the largest and most reliable brokers in the world.
Its powerful tools, wide range of products and low prices usually attract advanced traders. However, the IBKR GlobalTrader app is simpler and better suited to beginners.
Interactive Brokers offers low commissions on US stocks, a demo account to practise, a very wide range of tradable assets and the option to hold and trade in AUD.
Saxo at a glance
62% of retail CFD accounts lose money.
Saxo (formerly Saxo Bank) is a Danish broker founded in 1992. It serves Australian clients through Saxo Capital Markets (Australia) Limited, regulated by ASIC (AFSL 280372). The broker suits both advanced traders and beginners, with fair prices and useful tools.
Saxo offers a wide range of investment products from more than 50 exchanges, high-quality educational resources and well-designed trading platforms. The SaxoInvestor mobile app and the SaxoTraderGO web platform are user-friendly and ideal for beginners, and you can practise in a demo account.
In a nutshell, Saxo offers low prices (from US$1 on US stocks and AUD 3 on ASX shares), great educational resources, an impressive range of assets and user-friendly apps, making it an excellent alternative to Charles Schwab for investors in Australia.
Plus500 at a glance
81% of retail CFD accounts lose money.
Plus500 is a fintech founded in 2008 in Israel. Its subsidiary Plus500AU Pty Ltd is regulated in Australia by ASIC (AFSL 417727). The broker offers a CFD account with a wide range of underlying assets.
CFDs are leveraged instruments that need to be traded with care, since leverage magnifies both gains and losses, and most retail CFD accounts lose money. Unlike Charles Schwab, Plus500 doesn’t let you own the underlying shares.
The broker lets you open a free demo account to practise and get to know the platform. Opening an account is easy, the platform is intuitive and customisable, and customer service is available 24/7.
Stake at a glance
Stake is an Australian broker founded in 2017. It operates through Stakeshop Pty Ltd as a corporate authorised representative under an Australian financial services licence, with ASX trades executed through FinClear (CHESS-sponsored, on your own HIN) and US shares held with the US broker DriveWealth.
The platform is known for its flat brokerage and its well-designed, easy-to-use web and mobile apps. US trades cost US$3 up to US$30,000, and ASX trades cost A$3 up to A$30,000. On the downside, educational resources are limited, and converting AUD to USD costs 0.55%.
Stake is simple and low-cost for investors who mainly want US and ASX shares, making it one of the best alternatives to Charles Schwab in Australia.
tastytrade at a glance
tastytrade serves Australian clients through tastytrade Australia Pty Ltd (AFSL 508867), which refers them to the US broker tastytrade, Inc. It is aimed at do-it-yourself traders who prefer to manage their own portfolio rather than rely on robo-advisors, with access to US stocks, ETFs, options, futures and cryptocurrencies. Its platform was built by the founders of the thinkorswim platform, which is now part of Charles Schwab after its acquisition of TD Ameritrade.
tastytrade provides a comprehensive platform on desktop and mobile. There is a learning curve, and beginners should understand option basics such as delta and gamma before diving in. You can also follow popular traders on the platform.
Its pricing is transparent: stocks and ETFs have no commission, while options cost US$1 per contract to open (capped at US$10 per leg) and nothing to close. It lacks the research and educational material of IBKR and access to Australian shares, but it’s still a useful alternative to Charles Schwab thanks to its low costs and no minimum deposit.
TradeStation at a glance
TradeStation is a US broker known for its advanced trading platforms and tools for active traders. It has won several industry awards over the years, particularly for its options trading tools.
TradeStation focuses on active traders, with access to stocks, ETFs, options and futures on US markets. While it’s a solid alternative to Charles Schwab for Australians, there are better options if you want Australian shares or a local, ASIC-regulated entity.
On the plus side, there’s built-in real-time market data, no minimum deposit, and OptionStation Pro, a powerful tool to build options chains, analyse options strategies and execute trades quickly. We suggest TradeStation if you want to focus on US options and futures.
Tiger Brokers at a glance
With more than 10 million registered users worldwide, Tiger Brokers is a Nasdaq-listed broker that serves Australians through Tiger Brokers (AU) Pty Limited, regulated by ASIC (AFSL 300767). You can access stocks and ETFs from the ASX (CHESS-sponsored, on your own HIN), the US, Hong Kong and China A-shares, plus US options.
Its pricing is competitive and depends on the market: AUD 3 per ASX order up to AUD 10,000 and USD 2 per US order of up to 200 shares, with third-party fees on top. Tiger Brokers focuses on execution and ease of trading, and the platform does both well, with free real-time US market data with depth.
It’s a good choice for active traders who want access to several markets from one app, without needing extensive research tools.
Bottom line
You can open a Schwab One International account from Australia, and Schwab no longer asks for a USD 25,000 minimum deposit. However, it may not be the best move: the account is only in US dollars, you deal with a US broker rather than an ASIC-regulated entity, and some products may be restricted depending on your country of residence.
Luckily, there are plenty of alternatives for Australian investors. Brokers such as eToro, Interactive Brokers, Saxo, Stake and Tiger Brokers are regulated in Australia by ASIC, and most of them let you invest in both ASX and US shares, often with AUD accounts.
So, Charles Schwab isn’t your only option for investing in US shares from Australia.
