Stock Market Overview

The United States is home to two of the largest exchanges in the world by market capitalisation the New York Stock Exchange and NASDAQ. Other exchanges within the US include AMEX, NYSE MKT. The most widely used indexes referencing the US stock exchanges are the DOW Jones Industrial average (DJI), the NASDAQ and the S&P 500.

Some of the largest and most well-known listed stocks include Apple (AAPL), Alphabet Inc (GOOG), Meta Platforms (FB), Microsoft Corporation (MSFT), Amazon Inc (AMZN), Tesla Inc (TSLA), Twitter (TWTR), Netflix (NFLX) and Airbnb (ABNB).

Brokerage Fees

Trade Size PhillipCapital CMC Markets CommSec
$5,000 US $6.00 AU $14.95 US $19.95
$10,000 US $6.00 AU $19.95 US $29.95
$100,000 US $6.00 0.11% 0.31%
$1,000,000 US $6.00 0.11% 0.31%

* Prices as at August 2019

Online Trading Offline Trading
North America % Minimum % Minimum
United States (NASDAQ, NSYE-MKT, NYSE) Flat Rate US $6.00 0.60% US $60.00

Note: Exchange fees are exclusive of GST, may be subject to change without prior notice. Share Trading Fees outlined are for execution only, fees for advisory services may differ and should be discussed with your Private Client Adviser. Custodian charges may apply.

Compare brokerage fees across all markets here.

Exchange Fees

Securities and Exchange Commission (SEC) Fees 0.0008% (Sell trades)

Other Charges and Exchange Fees

Financial Transaction Tax 0.3% (Buy trades only, applicable for French ADRs with market cap >= EUR 1 B)

0.1% (Buy trades only, applicable for Italian ADRs with market cap >= EUR 500 M)

0.2% (Buy trades only, applicable for Spanish ADRs with market cap >= EUR 1 B)

American Depositary Receipt (ADR) / Depositary Receipt (DR) Fee Varies for each country
Trading Activity Fee Applicable only for sell trades at USD 0.000145 per share, subject to maximum of USD 7.27. (With effect from 3rd January 2022).

Trading Hours

Australia Time AEST 12:30am – 07:00am
United States Eastern Time 09:30am – 04:00pm


Settlement Cycle T+2 Market Days
Settlement Currency USD
Order Amalgamation No