The transaction fee is 1.9% on the amount invested up to the fee cap:

$5 USD for US shares—that equates to amounts invested (or received from selling shares) above $264 USD.

$6 AUD for Australian shares—that equates to amounts invested (or received from selling shares) above $316 AUD.

$25 NZD for NZ shares—that equates to amounts invested (or received from selling shares) above $1,316 NZD.

The transaction fee is charged in the currency of your order—currency exchange fees are charged separately.

If you’re on a pricing plan, transaction fees are covered on orders and auto-invest orders up to a certain amount. To find out more about plans and fees, check out our pricing page.

## Buy orders in dollars

For market orders and limit orders placed in dollars, the transaction fee is calculated on the amount to invest (the net amount) and deducted from the order amount you enter (the gross amount).

Your transaction fee won’t be higher than the capped fee amount per order for each market.

### Example: Buy order below fee cap

If you place a $100 buy order, the amount that’ll be invested ($98.14) is used to calculate the transaction fee amount ($98.14 x 1.9% = $1.86), which is deducted from your order amount ($100 - $1.86 = $98.14).

### Example: Buy order above fee cap

If you place a $500 buy order for Australian shares, a 1.9% transaction fee would work out to be $9.32 ($490.68 x 1.9%). But, because the capped fee amount for Australian shares is $6, you’re only charged a $6 transaction fee and the amount invested is $494.

Fee examples are in Australian dollars (AUD).

## Limit buy orders in shares

For limit buy orders in whole or fractional shares, the transaction fee is calculated on the amount to invest (the net amount). You set the amount to invest by selecting the highest price to pay per share and the number of shares to buy.

The order amount you’re charged is the amount to invest plus the transaction fee. Your transaction fee won’t be higher than the capped fee amount per order for each market.

When you place a limit buy in shares, an estimated fee amount is shown. When your order fills, the fee is recalculated on the actual amount invested.

### Example: Limit buy order below fee cap

If you place a limit buy order, your amount to invest will be $100 at most if you set:

the highest price to pay per share at $10, and

the number of whole shares to buy at 10.

From the amount to invest, a $1.90 transaction fee (1.9% × $100 = $1.90) is calculated and your total order amount is $101.90.

### Example: Limit buy order above fee cap

If you place a limit buy for Australian shares, your amount to invest will be $500 at most if you set:

the highest price to pay per share at $10, and

the number of whole shares to buy at 50.

A 1.9% transaction fee applied to the amount to invest ($500) would work out to be $9.50 (1.9% × $500 = $9.50). But, because the capped fee amount for Australian shares is $6, you’re only charged a $6 transaction fee and your total order amount is $506.

Fee examples are in Australian dollars (AUD).

## Market sell orders

For market sell orders, you set the number of shares to sell, and we calculate an estimated order amount using the estimated market price (for stop loss orders, we calculate an estimated order amount using the price you set to trigger a sell order). From the estimated order amount, we calculate an estimated transaction fee on the estimated amount you’ll receive.

When your order fills, the fee is recalculated on the actual amount you receive, and deducted from the sell order amount before it reaches your Wallet. Your transaction fee won’t be higher than the capped fee amount per order for each market.

### Example: Market sell order below fee cap

If you place a sell order for 10 shares with an estimated market price of $10 per share, your estimated order amount will be $100.

From the estimated $100 order amount, we calculate an estimated $1.86 transaction fee on the estimated $98.14 amount you’ll receive ($1.86 = 1.9% × $98.14).

When your order fills, the fee is recalculated on the actual amount you receive, and deducted from the sell order amount before it reaches your Wallet. Your transaction fee won’t be higher than the capped fee amount per order for each market.

### Example: Market sell order above fee cap

If you place a sell order for 50 Australian shares with an estimated market price of $10 per share, your estimated order amount will be $500.

From the estimated $500 order amount, a 1.9% transaction fee calculated on the estimated $490.68 amount to receive would work out to be $9.32 ($9.32 = 1.9% × $490.68). But, because the capped fee amount for Australian shares is $6, you’d only be charged a $6 transaction fee and the estimated amount received is $494.

When your order fills, the fee is recalculated on the actual amount you receive, and deducted from the sell order amount before it reaches your Wallet. Your transaction fee won’t be higher than the capped fee amount per order for each market.

Fee examples are in Australian dollars (AUD).

## Limit sell orders

For limit sell orders, you set the number of shares to sell and the lowest price to sell per share—this gives you an estimated order amount. From the estimated order amount, we calculate an estimated transaction fee on the estimated amount you’ll receive.

### Example: Limit sell order below fee cap

If you place a limit sell order, your estimated order amount will be $100 if you set:

the number of whole shares to sell at 10, and

the lowest price to sell per share at $10.

From the estimated $100 order amount, we calculate an estimated $1.86 transaction fee on the estimated $98.14 amount you’ll receive ($1.86 = 1.9% × $98.14).

### Example: Limit sell order above fee cap

If you place a limit sell order for Australian shares, your order amount will be $500 at most if you set:

the lowest price to sell per share at $10, and

the number of whole shares to sell at 50.

A 1.9% transaction fee applied to the estimated amount to receive ($490.68) would work out to be $9.32 (1.9% × $490.68 = $9.32). But, because the capped fee amount for Australian shares is $6, you’re only charged a $6 transaction fee and your total estimated amount to receive is $494.

Fee examples are in Australian dollars (AUD).

**Auto-invest orders**

If you’re not on a plan, pay as you go pricing applies. Transaction fees and fee caps apply to each of the separate market orders within the overall auto-invest order. This means that the total transaction fees from an auto-invest order could be more than the fee cap for an individual order.