Best Stock Trading Platforms Australia
An overview of the best stock and share trading platforms for Australian investors.
Summary: Australia's stock, ETF and equity investment environment is vibrant and well-regulated, under the diligent supervision of the Australian Securities and Investments Commission (ASIC) and the Reserve Bank of Australia (RBA). These authorities ensure a secure financial market for investments made through various means, including bank transfers, BPAY, and card payments.
To support your investment endeavours, our proficient team has thoroughly reviewed and highlighted the top five user-friendly stock trading platforms in Australia, providing dependable and effective tools for investing.
- eToro - Best Stock Trading Platform in Australia
- SelfWealth - Best Alternative in Australia
- Stake - Best for Beginners
- CommSec - Best Institutional Share Broker
- IG Markets - Best for CFDs on Stocks
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Best Share Trading Platforms in Australia
To pinpoint top stock and ETF trading apps among Australian investors, we've devised an approach examining each platform's strengths and weaknesses of each trading platform. Our evaluation embraces essential elements such as compliance with the Australian Securities and Investments Commission (ASIC), the assortment of offered stocks and shares, general user satisfaction, AUD deposit options, and trading fees. Below, find a concise overview of Australia's top five trading platforms.
1. eToro
eToro earns the title of the best overall stock trading platform in Australia, providing investors with unrestricted access to over 3,000 equities, ETFs, commodities, and more. Their platform is trusted by over 30 million investors and is licensed by the Australian Securities and Investments Commission (ASIC), making them one of the safest brokers for investing and trading stocks.
The platform sets itself apart with innovative social trading features like Copy Trading and a Virtual Account, which allows users to refine their skills with AUD 100K in demo funds. They are also widely recognized for their low fees, tight spreads, and user-friendly deposit options for Australian Dollars (AUD).
- Fees: Zero trading fees and 1% spread.
- Assets: 3,000+ stocks, ETFs, commodities, currencies, and more.
- Regulation: Licensed by the Australian Securities and Investments Commission (ASIC).
- AUD Deposit Methods: New Payments Platform, PayID, Osko, POLi, Bank Transfers, Debit Cards, Credit Cards, and PayPal.
2. SelfWealth
SelfWealth secures the second spot as an exceptional stock trading platform in Australia, offering investors access to over 1,000 US & ASX-listed equities, ETFs, and managed funds. The platform is licensed by the Australian Securities and Investments Commission (ASIC) and headquartered in Melbourne, guaranteeing a secure environment for investing and trading stocks.
The brokerage distinguishes itself with its flat-fee pricing model, making it an appealing choice for cost-conscious investors. Additionally, SelfWealth supplies comprehensive market data and insights, empowering users to make well-informed investment decisions. The user-friendly interface and convenient AUD deposit options further improve the user experience.
- Fees: AUD 9.50 flat fee per trade.
- Assets: ASX-listed stocks, ETFs, and managed funds.
- Regulation: Licensed by the Australian Securities and Investments Commission (ASIC).
- AUD Deposit Methods: Bank Transfers, BPAY, and Direct Debit.
3. Stake
Stake captures the third position as a notable stock trading platform in Australia, specializing in providing investors access to over 8,000 ASX & US-listed equities, ETFs, and ADRs. Catering to more than 150,000 Australian investors, Stake offers a sleek user experience and interface on their web and mobile app making it accessible for all investors to buy, sell and trade shares.
The platform is known for its competitive fee structure, with zero brokerage fees on US stock trades and a foreign exchange fee for converting AUD to USD. Stake also features advanced trading tools and real-time market data, enabling users to make well-informed decisions. The company is licensed by ASIC and are based in Sydney, Australia.
- Fees: Zero brokerage fees on US stock trades, 0.7% foreign exchange fee for AUD to USD conversion.
- Assets: 8,000+ US-listed stocks, ETFs, and ADRs.
- Regulation: Licensed by the Australian Securities and Investments Commission (ASIC).
- AUD Deposit Methods: Bank Transfers, POLi, and Debit Cards.
4. CommSec
CommSec ranks as our 4th pick for Aussie investors, primarily catering to high-net-worth and institutional clients with its extensive range of ASX-listed equities, ETFs, options, bonds, treasuries and warrants. As a division of Commonwealth Bank, the largest financial institution in Australia, CommSec undoubtedly offers the safest means to access and custody equities and other assets.
The platform features a tiered pricing model based on trading volume, extensive market research, real-time data, and expert insights. Its advanced trading tools, premium support, and sophisticated reporting features make CommSec particularly attractive to discerning investors. One main downside to CommSec is its outdated user interface and user experience, which many be confusing for newer investors.
- Fees: Tiered pricing from AUD 10 to AUD 29.95 per trade based on trading volume.
- Assets: ASX-listed equities, ETFs, options, bonds, treasuries and warrants.
- Regulation: Licensed by the Australian Securities and Investments Commission (ASIC).
- AUD Deposit Methods: Bank Transfers, BPAY, and Direct Debit.
5. IG Markets
IG Markets secures the fifth and final position as a reputable stock trading platform in Australia, catering to sophisticated investors with its broad selection of ASX-listed equities, ETFs, options, CFDs, and forex. Licensed by the Australian Securities and Investments Commission (ASIC), IG Markets ensures a secure and regulated environment for trading stocks and other equities with up to 100x leverage on some assets.
The platform is renowned for its competitive pricing structure, with fees tailored to accommodate different levels of trading activity. IG Markets also offers an advanced trading platform, ProRealTime, with cutting-edge charting tools, real-time data, and expert insights to support informed decision-making. Users can enjoy a seamless trading experience through its user-friendly interface, mobile app, and multiple AUD deposit options such as Bank Transfers and BPAY.
- Fees: Variable pricing based on trading activity and instrument.
- Assets: ASX-listed equities, ETFs, options, CFDs, and forex.
- Regulation: Licensed by the Australian Securities and Investments Commission (ASIC).
- AUD Deposit Methods: Bank Transfers and BPAY.
How to Trade Stocks and ETFs in Australia
Venturing into Australia's stock market can be intimidating, but with proper direction and a systematic approach, newcomers can quickly excel. Follow this concise guide for a confident start in stock trading down under:
- Master Fundamentals: Grasp key investment concepts, stock market operations, and risk management.
- Set Goals & Tactics: Define investment objectives and adopt fitting strategies like value, growth, or dividend investing.
- Pick a Trading Platform: Choose an ideal stock trading platform considering fees, assets, and user experience.
- Open an Account: Register on your selected platform and complete identity verification.
- Deposit Funds: Transfer AUD via methods like bank transfers or credit/debit cards.
- Assess Stocks: Leverage platform resources to pinpoint stocks aligned with your goals and strategy.
- Execute Trades: Acquire stocks and ETFs using market or limit orders and consistently monitor your portfolio.
By following these steps and staying informed about market trends, you'll be well on your way to becoming a prudent stock trader, investor or speculator.
What Australian Banks Offer Share Trading?
Major Australian banks offer share trading services, enabling access to local and global markets. CBA provides CommSec, an online trading platform with market research and investment tools. Westpac offers Online Investing for trading shares and ETFs. ANZ features ANZ Share Investing, granting access to various markets and resources. Lastly, NAB offers NABtrade, encompassing Australian and international shares, ETFs, and market insights.
Who Regulates Stock Trading in Australia?
In Australia, the oversight and regulation of stock trading falls under the jurisdiction of the Australian Securities and Investments Commission (ASIC), a government body whose mandate includes ensuring fairness and transparency in financial markets, implementing company and financial service laws, and safeguarding Australian consumers, investors, and creditors from potential fraud and market misconduct.
Bottom Line
In summary, Australia's stock and ETF investment landscape is dynamic and secure, managed by ASIC and RBA. Top trading platforms such as eToro, SelfWealth, Stake, CommSec, and IG Markets offer diverse assets, competitive fees, and user-friendly interfaces. Picking a platform depends on your investment goals and the platform's unique features.
To start trading, learn the basics, define goals, choose a platform, register, deposit funds, and commence trading. Major Australian banks also provide share trading services, and ASIC ensures fair trading, enhancing investor trust in Australia's financial markets.