ETF Platforms · Comparison

Betashares Direct vs Stake vs Pearler: Best ETF Platform for Australians (2026)

By Lee · MoneyHackHQ founder · Last updated 22 May 2026

Three of the most popular platforms Australians use to buy ETFs are Betashares Direct, Stake and Pearler — but they’re built around different priorities. One wins on cost, one on ASX-plus-US access, and one on CHESS-sponsored automation. This is a plain-English comparison to help you pick the right one for how you actually invest.

Quick comparison

One honest caveat before the detail: these three aren’t the only options, and they’re not automatically the cheapest. A few newer brokers now offer $0 brokerage with full CHESS sponsorship. But Betashares, Stake and Pearler remain three of the most popular and well-supported choices, each strong for a different kind of investor — which is why they’re worth comparing directly.

Betashares Direct: best for low-cost regular investing

Betashares Direct’s headline is zero brokerage on ASX ETFs and shares, plus free auto-invest and fractional buys from $10. For someone dollar-cost-averaging into ETFs every month, that combination is hard to beat on cost — you’re not paying a fee on every small purchase, and your whole deposit gets invested.

The trade-off is the ownership model: it’s custodial, not CHESS-sponsored, so you don’t get your own HIN. For many long-term investors that’s a non-issue; for others it’s a dealbreaker. It’s also ASX-only, so no direct US shares. We go deep on the custodial question in our full Betashares Direct review.

Stake: best for ASX + US in one app

Stake’s strength is giving you both the Australian and US markets in one modern, well-designed app. ASX trades are CHESS-sponsored at $3 for trades up to $30,000 — so your Australian shares sit under your own HIN — and you can also buy US-listed shares and ETFs, with fractional US shares available.

If you want a single platform for a core of Aussie ETFs plus some direct US exposure (think Apple, Amazon, Nvidia), Stake covers both without needing two accounts. The main things to watch are the FX conversion cost on US trades and that ASX holdings are whole-share only (no fractional ASX).

Pearler: best for CHESS-sponsored auto-investing

Pearler is built specifically for long-term, passive, buy-and-hold investors — the FIRE crowd in particular. Its standout feature is CHESS-sponsored auto-investing: you can automate recurring purchases of your chosen ETFs while still holding them under your own HIN, which neither Betashares (custodial) nor a fully manual broker offers in quite the same way.

Brokerage is $6.50 per trade (reducible to around $5.50 if you prepay), with no account, inactivity or deposit fees. There’s also a $2/month flat Micro option for hands-off investing in managed funds that track popular ETFs. The catch is simply cost per trade: if you invest frequently in small amounts, that $6.50 adds up faster than Betashares’ $0 — Pearler deliberately discourages frequent trading.

CHESS vs custodial: the difference that decides it

For a lot of people this single question settles the choice. With a CHESS-sponsored broker (Stake, and Pearler for ASX), your shares are registered directly in your name with your own Holder Identification Number (HIN). With a custodial platform (Betashares Direct), your investments are held on a pooled basis by a custodian, with the platform keeping records of what you own.

Custodial models are common, perfectly legitimate, and let platforms offer features like fractional investing and $0 brokerage. But CHESS gives you direct legal title and makes moving brokers simpler. If that direct ownership matters to you, lean Stake or Pearler. If you care most about cost and convenience for regular investing and you’re comfortable with a reputable custodian, Betashares Direct’s $0 brokerage is compelling.

So which should you choose?

• You invest small amounts often and want the lowest cost → Betashares Direct ($0 brokerage, fractional from $10).
• You want ASX and US shares in one app, CHESS for the Aussie side → Stake.
• You want set-and-forget auto-investing with CHESS sponsorship → Pearler.
• Direct legal ownership (your own HIN) is non-negotiable → Stake or Pearler over Betashares.

For a lot of Australians building a simple ETF portfolio — especially around an all-in-one fund like DHHF — the lowest-friction path is Betashares Direct for the zero brokerage. If you want to understand that fund itself first, see our guide on how to invest in DHHF.

FAQ

Which is cheapest for buying ETFs?

On brokerage alone, Betashares Direct ($0) beats Stake ($3) and Pearler ($6.50) for ASX ETFs. But “cheapest” depends on whether you value CHESS sponsorship, which the $0 option doesn’t offer. Some newer brokers also pair $0 brokerage with CHESS, so it’s worth checking those too.

Can I buy DHHF on all three?

Yes — DHHF trades on the ASX, so all three can buy it. It’s brokerage-free on Betashares Direct since it’s a Betashares fund; on Stake and Pearler you’d pay their normal ASX brokerage.

Is custodial investing safe?

Custodial models are widely used by reputable, regulated platforms. The investments are still yours; they’re just held via a custodian rather than registered under your personal HIN. The trade-off is about direct legal title and ease of transferring, not about whether your money disappears. As always, market risk applies regardless of structure.