Major domestic securities firms have reignited fierce competition to cut brokerage commissions to win new customers and bring dormant clients back. Some firms are waiving fees entirely based on monthly transaction value or promoting 0% fees for a set period as they pursue aggressive marketing.
ChosunBiz's analysis on Apr. 15 of domestic stock brokerage commission schedules at 10 securities firms found a stark gap between base rates and promotional rates. Base commission rates at major securities firms varied widely, from as low as 0.0018% to as high as 0.50%. Large firms such as Samsung Securities (0.076%–0.497%), Mirae Asset Securities (0.013%–0.49%), and NH Investment & Securities (0.01%–0.50%) maintain tiered fee structures by transaction channel and amount.
By contrast, Kiwoom Securities (0.0145%–0.015%), Toss Securities (0.014%–0.015%), and Daishin Securities (0.014%–0.015%) have adopted relatively low and steady base rates. Promotions to attract new and dormant clients are also active. In particular, Meritz Securities is drawing customers by offering a bold benefit of 0% fees for clients with monthly transaction value of up to 20 billion won.
Shinhan Investment & Securities and Toss Securities also applied 0% fees for monthly transaction value of up to 50 billion won to attract high–net worth and heavy traders. Mirae Asset Securities and Daishin Securities are understood to be running unconditional 0% fee promotions for three months and one month, respectively.
A strategy of differentiating eligible clients and durations also stands out. Fee benefits are focused mainly on new and dormant clients. The definition of dormant clients differed by firm: one year at KB Securities, six months at Shinhan Investment & Securities, and 11 months at Samsung Securities. Benefit periods range widely from short term (1–6 months) to long term (lifetime).
In particular, KB Securities and Daishin Securities offered "lifetime" fee benefits for new and dormant clients, aiming for a lock-in effect to prevent customer churn. NH Investment & Securities and Kiwoom Securities set generous promotion periods of about one year (through the end of 2026) to lure customers.
In the brokered ISA (individual savings account) market, which is popular among investors for its tax-saving benefits, securities firms are in the midst of intense competition with bold fee discounts.
Samsung Securities, Mirae Asset Securities, Korea Investment & Securities Co., and Daishin Securities are applying about 0.0036% as the brokered ISA promotional rate and taking a "lock-in" strategy by offering it for life. Shinhan Investment & Securities and KB Securities countered by guaranteeing preferential rates of 0.0042% and 0.0045%, respectively, for life. Effectively, they are seeking to preempt asset management clients on tax-advantaged accounts even at the expense of commission revenue.
NH Investment & Securities offers a 0.0043% preferential rate for about one year, while Kiwoom Securities is focusing on customer acquisition through subsidy promotions instead of separate fee events. In contrast, Toss Securities is understood not to offer brokered ISA services at this time.
Not only domestic stocks but also U.S. stock brokerage fees are trending toward a lower, standardized level. Most securities firms apply low rates of around 0.25% for U.S. stocks, keeping Korean retail investors trading U.S. stocks engaged.
A securities industry official said, "Amid an unprecedented boom in the securities market, fee competition among securities firms is not just about price cuts but an essential strategy to strengthen platform competitiveness and expand the customer base," adding, "Investors should carefully check the base fee rates that apply after promotions end and whether fees payable to related institutions are included."