Best Stock Trading Platforms Australia

Best Share Trading Platforms in Australia

To identify the best stock and ETF trading apps for Australian investors, we've assessed each platform's strengths and weaknesses. Our evaluation covers essential factors such as compliance with the Australian Securities and Investments Commission (ASIC), the variety of available stocks and shares, overall user satisfaction, AUD deposit options, and trading fees. Below is a concise overview of Australia's top five trading platforms.

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1. eToro

eToro is the top choice for stock trading in Australia, offering access to over 4,500 equities, ETFs, commodities, and treasuries. Trusted by more than 30 million investors, it is licensed by the Australian Securities and Investments Commission (ASIC), ensuring a secure investment environment.

The platform stands out with its innovative social trading features like Copy Trading and a Virtual Account, providing AUD 100K in demo funds for skill development. Known for its low fees, tight spreads, and convenient AUD deposit options, eToro also supports popular products like Bitcoin ETFs by BlackRock and ARK Invest ETFs in robotics and AI.

• Fees: Zero trading fees, 1% spread.
• Assets: 4,500+ stocks, ETFs, commodities, currencies.
• Regulation: Licensed by the Australian Securities and Investments Commission (ASIC).‍
• AUD Deposit Methods: PayID, Osko, POLi, bank transfers, debit cards, credit cards, PayPal

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2. SelfWealth

SelfWealth ranks among the best stock trading platforms in Australia, giving investors access to over 1,000 US and ASX-listed equities, ETFs, and managed funds. Based in Melbourne and licensed by the Australian Securities and Investments Commission (ASIC), it ensures a secure trading environment. As an ASX-listed company featured in the Australian Financial Review’s “Fast 100,” SelfWealth has over 128,000 active investors and manages $10.2 billion in funds, highlighting its strong market presence.

The brokerage sets itself apart with its flat-fee pricing model, making it an appealing choice for cost-conscious investors. Additionally, SelfWealth provides comprehensive market data and insights, empowering users to make well-informed investment decisions. The platform's user-friendly interface and convenient AUD deposit options further enhance the user experience.

• Fees: AUD 9.50 flat fee per trade.
• Assets: 1,000 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.

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3. Stake

Stake holds the third spot as an outstanding stock trading platform in Australia, offering access to over 8,000 ASX and US-listed equities, ETFs, and ADRs. With more than 150,000 Australian investors, Stake provides a sleek, user-friendly experience on both web and mobile apps, making it easy for investors to buy, sell, and trade shares.

The platform features a competitive fee structure with zero brokerage fees on US stock trades and a 0.7% foreign exchange fee for converting AUD to USD. Stake also offers advanced trading tools and real-time market data, helping users make informed decisions. Based in Sydney and licensed by the Australian Securities and Investments Commission (ASIC), Stake ensures a secure trading environment.

• 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.

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4. CommSec

CommSec ranks fourth among Australian trading platforms, catering primarily to high-net-worth and institutional clients. It offers a comprehensive range of ASX-listed equities, ETFs, options, bonds, treasuries, and warrants. As part of Commonwealth Bank, Australia's largest financial institution, CommSec provides a secure means to access and manage various assets.

The platform uses a tiered pricing model based on trading volume and offers extensive market research, real-time data, and expert insights. CommSec's advanced trading tools, premium support, and detailed reporting features appeal to experienced investors. However, its outdated interface may pose challenges for newer users.

• Fees: Tiered pricing from AUD 10 to AUD 29.95 per trade based on volume.
• Assets: ASX-listed equities, ETFs, options, bonds, treasuries, warrants.
• Regulation: Licensed by ASIC.
• AUD Deposit Methods: Bank transfers, BPAY, direct debit.

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5. IG Markets

IG Markets secures the fifth position as a leading stock trading platform in Australia, catering to sophisticated investors with a diverse selection of ASX-listed equities, ETFs, options, CFDs, and forex. Licensed by the Australian Securities and Investments Commission (ASIC), IG Markets provides a secure and regulated environment for trading, offering leverage up to 100x on certain assets.

The platform is known for its competitive pricing structure, with fees designed to suit various trading activity levels. IG Markets features an advanced trading platform, ProRealTime, equipped with cutting-edge charting tools, real-time data, and expert insights to facilitate informed decision-making. Users benefit from a seamless trading experience through its intuitive interface, mobile app, and multiple AUD deposit options, including 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 ASIC.
• AUD Deposit Methods: Bank transfers and BPAY.
  

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How to Trade Stocks and ETFs in Australia

Entering Australia's stock market might seem daunting, but with the right guidance and a structured approach, beginners can quickly find their footing. Follow this concise guide to start trading stocks and ETFs in Australia confidently:

1. Master Fundamentals: Understand key investment concepts, how the stock market operates, and risk management principles.
2. Set Goals & Strategies: Define your investment objectives and choose appropriate strategies, such as value investing, growth investing, or dividend investing.
3. Pick a Trading Platform: Select a suitable stock trading platform based on fees, available assets, and user experience.
4. Open an Account: Sign up on your chosen platform and complete the required identity verification process.
5. Deposit Funds: Transfer AUD to your account using methods like bank transfers or credit/debit cards.
6. Assess Stocks: Use the platform's resources to identify stocks that match your goals and strategies.
7. Execute Trades: Buy stocks and ETFs using market or limit orders, and regularly monitor your portfolio.

By following these steps and staying updated on market trends, you'll be on your way to becoming a savvy stock trader, investor, or speculator.

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What Australian Banks Offer Share Trading?

Major Australian banks provide share trading services, granting access to both local and global markets. Here are the key offerings:

• Commonwealth Bank (CBA): Offers CommSec, an online trading platform with extensive market research and investment tools.
• Westpac: Provides Online Investing for trading shares and ETFs.
• ANZ: Features ANZ Share Investing, allowing access to a variety of markets and resources.
• NAB: Offers NABtrade, which includes Australian and international shares, ETFs, and market insights.

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Who Regulates Stock Trading in Australia?

In Australia, the Australian Securities and Investments Commission (ASIC) oversees and regulates stock trading. This government body ensures fairness and transparency in financial markets, enforces company and financial service laws, and protects consumers, investors, and creditors from fraud and market misconduct.

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Bottom Line

In conclusion, Australia's well-regulated and dynamic stock market provides a secure environment for investors, overseen by ASIC and the RBA. Our review highlights the top five trading platforms: eToro, SelfWealth, Stake, CommSec, and IG Markets, each offering unique features tailored to different investor needs. Whether you're new to investing or looking for advanced tools, these platforms provide reliable and efficient options to help you achieve your financial goals. Stay informed and choose the platform that best aligns with your investment strategy for a successful trading experience.