Pearler is an Australian long-term investing platform offering CHESS-sponsored ASX shares from AU$6.50 alongside automated US investing and micro-investing portfolios.
Written by StockEmber Team · Updated Oct 13, 2026
Researched with AI assistance and verified by our editors
Pearler pairs CHESS-sponsored ASX investing with US shares and rule-based automation, designed for long-term Australian index and ETF investors.
Pearler was founded in 2018 by a team that includes co-founders Nicholas Nicolaides (CEO) and Hayden Smith (CTO), to give younger Australians a long-term alternative to speculative trading apps. Pearler Investments Pty Ltd operates as an authorised representative (AFS Representative No. 1281540) of Sanlam Private Wealth Pty Ltd under ASIC regulation. ASX orders go through Openmarkets Australia Limited and US shares through Alpaca Securities LLC. Pearler is a private company.
Licensed & regulated
ASIC
Money protected
0 None · $500k SIPC
You own the shares
Real ownership
Track record
8 yrs · Private
AU · None
0
US · SIPC
$500k
Commission
A$6.50 flat per trade (A$5.50 with prepaid credit)
Account minimum
No minimum deposit stated; first ASX purchase must be at least A$500 of full units
Est. 10-year cost
~$789
Markets
Stocks · ETFs · Micro-investing managed fund (Pearler Investors Fund)
Fractional
Real owner not transferable
Tax wrappers
Australia: Pearler Super (superannuation)
Automated ETF dollar-cost averaging and long-term buy-and-hold investing on the ASX.
Not for active day traders, technical chartists, or investors seeking markets outside Australia and the US.
ASIC Tier 1 oversight via Sanlam Private Wealth backs Pearler, but Sanlam's 2024 ASIC undertaking and the lack of a compensation fund are caveats.
Pearler provides share trading under Australian regulatory oversight as an authorised representative. Pearler Investments Pty Ltd operates as AFS Representative No. 1281540 under Sanlam Private Wealth Pty Ltd, which holds Australian Financial Services Licence 337927. You can check both entries on the ASIC Connect register before you open an account.
Pearler does not hold its own licence, so Sanlam is the licensee responsible for the service. In December 2024, ASIC accepted a court enforceable undertaking from Sanlam after it admitted it had not adequately supervised its many authorised representatives. The action concerned Sanlam's compliance systems rather than Pearler specifically, and it carried no fine or suspension. Sanlam had to appoint an independent expert and implement a remedial plan, and ASIC published its final compliance report on the undertaking in June 2026.
Direct CHESS sponsorship gives you legal title on ASX holdings, while US shares sit in Alpaca's custody.
When you buy Australian shares on Pearler, your investments are not pooled in a broker nominee account. Pearler's ASX broker, Openmarkets Australia Limited, sponsors you on the ASX CHESS system with your own HIN, so your holdings are registered with the relevant share registries and you have direct ownership.
For US shares the setup changes. Alpaca Securities LLC holds them in custody for you. Pearler's help center notes you have no direct relationship with the company or its share registry, though you still receive dividends in proportion to your holding.
A$6.50 flat trades and no custody fees keep ongoing costs low, though US trades add a 0.50% currency fee.
Pearler charges a flat A$6.50 per buy or sell on ASX and US shares (about US$4.62 at the AUD/USD rate used in Stockember's October 2026 methodology). Prepaying brokerage credit takes 15% off, which saves A$1.00 per trade and brings the fee to A$5.50. Under Stockember's ten-year model of a $10,000 deposit and $300 monthly additions, that is 121 trades and roughly $559 in commissions.
Coverage spans the ASX, US share markets and a micro-investing fund, but excludes European and Asian exchanges.
Pearler focuses on the core assets favored by long-term accumulators. Your account gives access to more than 2,000 ETFs and shares on the Australian Securities Exchange, plus whole or fractional US ETFs and shares on the NYSE and Nasdaq through Alpaca. Your first ASX purchase must be at least $500 worth of full units, and ASX trades are in whole units only.
For smaller balances, Pearler Micro invests through the Pearler Investors Fund, a managed fund that holds ETFs. You can start with as little as $5 and choose from 10 investment funds, for a flat A$2.00 a month with the first two months free.
Automate tools and goal tracking anchor a platform designed for long-term investing rather than trading.
Pearler is built for long-term investors rather than traders, with a web platform and mobile apps for iOS and Android. The dashboard focuses on goals and net worth, and lets you track assets beyond your Pearler holdings.
Market and limit orders go through Openmarkets and Alpaca; US orders may earn Alpaca payment for order flow, which Alpaca discloses.
Order execution on Pearler favors simplicity. Your ASX orders go to Openmarkets Australia Limited, Pearler's ASX broker, and you can place market or limit orders. Orders placed during market hours are sent to the market immediately; otherwise they queue for the next trading day.
For US shares, orders are executed through Alpaca Securities LLC in the United States, and you can buy instantly with AUD while the US market is open. Alpaca's own disclosures say it receives payment for order flow from third-party market centers when you trade, and it publishes quarterly SEC Rule 606 order-routing reports. Pearler's own pages do not discuss this, so read Alpaca's disclosures before you open a US account.
Individual, joint, trust, minor and super accounts are supported, with US tax forms filed at account opening.
Pearler lets you open individual, joint, trust and minor accounts, and the pricing page notes you can open multiple accounts at no cost. For retirement, Pearler Super (issued by Equity Trustees Superannuation Limited) and its HomeSoon feature are offered as separate products. Headstart lets parents invest for their kids.
Free AUD deposits and PayID funding keep domestic cash movement simple, with multi-day settlement on sales.
You fund Pearler from the Invest & Cash button or the app's $ icon, and deposits to your AUD cash account are free. Pearler supports PayID deposits for faster funding alongside bank transfers. If you want to deposit US dollars directly from a US bank account, Pearler offers ACH and wire details. There is no stated minimum deposit, though your first ASX purchase must be at least $500 of full units.
After you sell, the proceeds take two business days to settle before you can withdraw them. Pearler staff have said there is no set limit on withdrawals to your linked bank account and no cost for doing so. Pearler does not state an official time for the bank transfer itself, and users report it can take a couple of business days.
Pearler offers separate AUD and USD cash balances. AUD to USD conversions are instant, while converting USD back to AUD normally takes 2 to 4 business days, and money in Automate or USD cash must first move to AUD cash before withdrawal.
Education, calculators and a community forum replace traditional analyst research.
Pearler takes a different approach to research than full-service brokers. There is no third-party research from providers such as Morningstar or Refinitiv listed on its pages. Instead it offers education and a community: more than 1,000 blog articles, over 10 calculators, 2 podcast shows, guided lessons and 100+ investor profiles.
The Pearler Exchange community lets members ask questions and discuss features and ETFs, and an ETF selection tool covers the most popular ETFs.
Pearler runs a rewards program with points and prize draws, but its design avoids trading-themed gamification. Investors who need deep company fundamentals or analyst reports will need to look elsewhere.
Live chat, email and phone support are available, but only on weekdays during business hours.
Pearler offers support through live chat, email (help@pearler.com) and phone on (02) 5747 4747. Its help center lists phone hours as Monday to Friday, 9am to 5pm, so you cannot reach the team in the evening or at the weekend.
The Help Center covers the main topics, including transfers, tax, US investing and deposits. Pearler also runs a community forum where you can ask questions of other investors.
If you cannot settle a complaint with Pearler, Sanlam Private Wealth is the licensee responsible for the service. Check the Financial Services Guide on Pearler's site for the current complaints process.
Pearler is available to Australian residents aged 18 and over. Its site says it reserves the right not to open accounts for residents outside Australia, and it is registered to operate only in Australia. Residents of other countries should not expect to be able to open an account.
Pearler delivers a purposeful investing environment for Australian long-term investors. CHESS sponsorship through Openmarkets removes nominee-custody concerns on ASX shares, while the flat A$6.50 brokerage keeps costs predictable. Automate and a long-term design give structure to regular investing, though global market access and trading tools are limited.
If your plan is to build a portfolio of Australian and US ETFs on an automated schedule, Pearler is a strong operational fit. Having your own HIN, paying no custody fees and automating deposits remove much of the day-to-day friction. If you want advanced charting, access to exchanges beyond the US and Australia, or round-the-clock support, a broader broker such as Interactive Brokers may serve you better.
Pearler connects your bank account to ASX and US share markets through a web and mobile app. You deposit money into your AUD cash account, choose your ETFs and shares, and can set up Automate to invest on a schedule or when your balance reaches a threshold.
Pearler is a private Australian company, Pearler Investments Pty Ltd, founded in 2018 and not listed on any stock exchange. It operates as an authorised representative of Sanlam Private Wealth Pty Ltd (AFSL 337927).
You sign up, verify your identity and link your Australian bank account. Your first ASX purchase must be at least $500 of full units, and each buy or sell costs A$6.50, or A$5.50 with prepaid credit. You can also use Automate to invest your deposits automatically.
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Important information
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~$789
Best for
Beginners · ETF DCA · Long-term FIRE
US shares are held with Alpaca Securities LLC, a US broker-dealer and member of FINRA and SIPC, which gives US holdings SIPC protection of up to $500,000. Australian shares have no equivalent statutory compensation scheme; your main safeguard on the ASX is legal title registered under your own Holder Identification Number (HIN). Pearler is a privately held company, so its financial reports are not published as openly as those of exchange-listed brokers.
Bottom line: Pearler operates under ASIC via Sanlam, but a 2024 ASIC undertaking over Sanlam's supervision and the lack of its own licence temper the picture.
“Tier 1 oversight and direct CHESS title for ASX shares are real positives, but Pearler relies on a licensee that gave ASIC a court enforceable undertaking in 2024.”
Transferring ASX shares out is free when both HINs share the same account name, address and entity type. For US shares, an ACAT (Automated Customer Account Transfer) costs US$25. Fractional units are sold and transferred as cash through ACAT, and only whole units can move through DTC (the Depository Trust Company), so fractional units stay in your account.
Bottom line: Pearler delivers direct legal ownership for Australian shares, with free same-name HIN transfers out.
“Real CHESS title on the ASX gives Pearler users registry-level ownership that nominee-only brokers cannot match.”
Pearler does not charge custody or account-keeping fees on its share accounts, and deposits and dividends are free. The main extra cost comes with US shares: Pearler adds a 0.50% (50 bps) margin to the Currencycloud exchange rate on every AUD to USD conversion, and the reverse. US brokerage is always paid in AUD.
Pearler pays 2.75% p.a. on money held in your US cash account, and no interest on AUD cash. Moving ASX shares to a matching HIN at another broker is free, while US ACAT transfers cost US$25. Pearler Micro is priced separately at A$2.00 a month.
What you will pay over 10 years
~$789over 10 years
Commission drag
~$559
$4.62 × 121 buys
Custody + annual fee
~$0
no fee charged
FX conversion
~$230
0.5% × $46,000
Total
~$789
Under Stockember's baseline ten-year model (a $10,000 initial deposit plus $300 a month, giving 121 trades and $46,000 invested), brokerage comes to about $559.02 (121 trades at $4.62, converted from A$6.50). Custody and account fees are $0. If every purchase were US shares, the 0.50% FX margin would add about $230.00 on $46,000 converted, for roughly $789.02 in total. ASX-only investors pay no FX fee. Either way total costs stay below the $1,000 threshold, so no cost score cap applies.
Bottom line: Pearler offers predictable flat-fee brokerage for disciplined long-term investors, especially in ASX assets.
“A simple A$6.50 fee with no custody charges suits investors who buy larger amounts less often.”
Market breadth is intentionally narrow. Pearler does not offer European or Asian exchanges, and its pricing and product pages list no bonds or options. You can hold separate AUD and USD cash balances, so USD proceeds from US sales stay in USD until you convert them.
Bottom line: Pearler delivers focused access to Australian and US share markets suited to standard ETF portfolios, though global reach is limited.
“Focusing on ASX and US markets suits index accumulators, but global portfolio builders will miss other exchanges.”
Its flagship feature is Automate, which supports scheduled investments, round-ups, thresholds, rebalancing and investing excess cash across ASX and US assets. This rules-based approach helps you keep brokerage costs down by avoiding many small trades.
For reporting, Pearler offers a CGT Tax Helper as an ATO-friendly PDF and a historical trades CSV. It also integrates with Sharesight and Navexa for performance tracking. Experienced traders who want advanced charting tools will find it a poor fit, as the platform is designed for buy-and-hold investing.
Bottom line: Pearler offers a distraction-free interface built for recurring index investors rather than active chart readers.
“Automate and goal tracking make Pearler a practical platform for passive, recurring investors.”
Pearler does not offer pre-market or after-hours trading. Accounts with less than US$25,000 in end-of-day equity are restricted from placing a fourth day trade within the rule's period, which is a US trading rule.
Bottom line: Pearler provides straightforward execution for patient investors, though US orders carry the payment for order flow that Alpaca discloses.
“Plain market and limit orders suit buy-and-hold investors, but US orders carry Alpaca's disclosed payment for order flow.”
When you open a US account, a W-8BEN form is filed for you by Pearler's US broker. This establishes your status as a non-US investor, which typically lowers US dividend withholding tax to the 15% treaty rate for Australian residents.
Because your ASX shares sit under your own CHESS HIN, dividends and corporate-action notices come through the share registries in your name, and you can use registry dividend reinvestment plans. Pearler also offers round-ups and Automate to put cash to work.
Bottom line: Pearler offers account options that suit Australian families, with US tax paperwork handled at opening and full shareholder rights on ASX holdings.
“CHESS title gives direct registry rights, including voting, without the friction common to omnibus brokers.”
Bottom line: Pearler offers low-cost domestic cash handling, balanced by multi-day settlement on sales and US dollar conversions.
“PayID deposits and free AUD withdrawals keep domestic cash movements simple, with some delay on US dollar flows.”
Bottom line: Pearler offers solid long-term education and a community, but serious fundamental researchers will need external tools.
“Education and a community forum fit patient, habits-first investors but are no substitute for professional research.”
Bottom line: Pearler offers competent support through chat, email and phone, but only during weekday business hours.
“Chat, email and phone cover routine needs, though hours are limited to weekdays.”
Pearler pays 2.75% p.a. (variable) on money held in your US cash account. Pearler does not pay interest on AUD cash.
Sell your investments, then wait two business days for the sale to settle. Use the Invest & Cash button or the app's $ icon to withdraw to your linked bank account. Money in Automate or USD cash must be moved to AUD cash first, and converting USD back to AUD normally takes 2 to 4 business days.
Pearler says you can withdraw and close your account at any time. Sell your investments or transfer your ASX shares to another broker (free between matching HINs), then withdraw your cash. For US shares, an ACAT transfer costs US$25. Contact Pearler by live chat or help@pearler.com for help.
