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The investment landscape is constantly evolving and, with the new trading capabilities–think cryptocurrency and artificial intelligence–coming onto the scene, it can be difficult to find the right platform for your trading needs.
Do you want to trade international shares, or only on the ASX? How much are you willing to invest upfront? Do you want access to additional securities, such as bonds and crypto, or do you want to focus on ETFs? Whether you’re a seasoned investor or a novice, these are all questions to consider.
That’s why we’ve given you a head-start with our pick of the best share trading platforms, also known as online brokers, available in Australia. Our Australian-based Forbes Advisor research and editorial team have done the heavy lifting for you, and our opinions and judgments are entirely based on our methodology outlined below.
Note: the below list represents a selection of our top category picks, as chosen by Forbes Advisor Australia’s editors and journalists. The information provided is purely factual and is not intended to imply any recommendation, opinion, or advice about a financial product. Not every product or provider in the marketplace has been reviewed, and the list below is not intended to be exhaustive nor replace your own research or independent financial advice. For more information on how Forbes Advisor ranks and reviews products, including how we identified our top category picks, read the methodology selection below.
Join 30M users and explore stocks and ETFs.
On eToro’s website. Your capital is at risk.
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On eToro’s Website
All your investments in one place
Join 30M users and explore stocks and ETFs
On Saxo’s Secure Website
Minimum trade
No minimum trade
Market Access
ASX, as well as more than 40 international markets.
Account Fees
No monthly account or subscription fee for classic account.
AFSL 491139. Capital at risk. See PDS and TMD
Minimum $500 initial purchase
ASX, as well as 25 international markets across US, EK, Europe and Asia
No monthly account or subscription fee
Minimum $500 initial purchase
ASX, as well as 25 international markets across US, EK, Europe and Asia
No monthly account or subscription fee
CommSec is Australia’s largest online trading platform, offering users no monthly account-keeping nor subscription fee. It has the industry standard minimum initial trade of $500, and access to both the ASX and 25 international markets.
Additionally, CommSec has a wide-range of educational tools available to its users, helping beginner traders and seasoned investors learn more about their investment decisions—whether in the Australian market or further afield.
Minimum of $500 for first trade
ASX and nine international markets: United States, United Kingdom, Canada, Germany, France, Spain, Italy, Sweden, and Japan
No monthly account or subscription fee
Minimum of $500 for first trade
ASX and nine international markets: United States, United Kingdom, Canada, Germany, France, Spain, Italy, Sweden, and Japan
No monthly account or subscription fee
CMC Markets offers a wide range of trading options for its users beyond simply trading shares. There is a minimum of $500 for the first trade, with users also able to trade in CFDs, forex, commodities, indices, options, cryptocurrencies and sharebaskets (some securities require higher buy-ins).
There are also many educational resources available via CMC Markets, including demo accounts to practice trading and even junior accounts available to kids.
Minimum $500 initial purchase
ASX, as well as international markets in the US, UK, Hong Kong and Germany
No monthly account fee. For an entry level account, there are no subscription fees, however, higher level subscriptions are available which do incur fees
Minimum $500 initial purchase
ASX, as well as international markets in the US, UK, Hong Kong and Germany
No monthly account fee. For an entry level account, there are no subscription fees, however, higher level subscriptions are available which do incur fees
The nabtrade platform is available to all Australians with no monthly or subscription fee, however, for keen traders looking for a more premium model, there are higher service levels which do incur subscription fees. This higher tier provides access to premium charting and comparisons, as well as instantaneous company announcement and alerts to keep you up to speed with market changes.
Regardless of the tier of subscription, traders are required to put forth a minimum $500 for the initial purchase, and have access to the ASX as well as four international markets: the US, UK, Hong Kong and Germany.
No minimum trade amount
ASX, as well as more than 50 international markets across, US, EK, Asia and Europe
No monthly account or subscription fee for classic account. There are fees if the user wants to subscribe to live pricing
No minimum trade amount
ASX, as well as more than 50 international markets across, US, EK, Asia and Europe
No monthly account or subscription fee for classic account. There are fees if the user wants to subscribe to live pricing
Previously investors needed $1,000 as an initial outlay—which was high by industry standards—but there is no longer a minimum investment requirement and Saxo has since simplified its fee structure. You can read more about their fees, on their pricing page.
Saxo Markets allow investors to trade in a range of assets, from shares and bonds to cryptocurrencies, CFDs, and foreign exchange, across more than 50 international markets.
There is access to research by various fund managers, as well as learning resources such as webinars, articles, videos, and detailed guides on trading and investing. Unfortunately, the prices in the market are 20 minutes delayed, unless the user subscribes to live pricing for the relevant exchange.
US$50
ASX, as well as 17 international markets across US, UK, Europe and Asia
No monthly fee but there is a monthly inactivity fee when account has been inactive for more than 12 months, which is $10 per month
US$50
ASX, as well as 17 international markets across US, UK, Europe and Asia
No monthly fee but there is a monthly inactivity fee when account has been inactive for more than 12 months, which is $10 per month
While eToro is a highly regarded share trading platform, its fee structure is not straight-forward and can catch inexperienced traders by surprise. While there are no set brokerage or commission fee for ASX, international or ETFs trades—nor any management or subscription fees—you may have to pay withdrawal, inactivity, conversion fees, overnight and spread fees. You can read more on eToro’s dedicated fees page.
The eToro platform allows users to not only trade in shares and ETFs, but also crypto, commodities, foreign exchanges and indices, and offers a multitude of training and educational resources for novice through to advanced investors. Notably, the ability to ‘copy trade’ other more experienced and successful traders is a big drawcard.
Minimum deposit amount is $99 (must deposit this minimum to start the account)
ASX only
No monthly account or subscription fee
Minimum deposit amount is $99 (must deposit this minimum to start the account)
ASX only
No monthly account or subscription fee
For traders not interested in overseas markets, GO Markets as a share trading platform is a reasonable choice: it only offers access to the ASX, and has a flat fee of $7.70 up to $100,000 for share trading and EFTs. It is also possible to trade in forex, and commodities.
Additionally, while there are video tutorials, a trading glossary, and a blog with market insights and analysis, GO Markets does not provide access to research on stocks by fund managers.
There are no account minimums for individual, joint, trust and org accounts
ASX, as well as more than 150 international markets in 33 countries
No monthly account or subscription fee
There are no account minimums for individual, joint, trust and org accounts
ASX, as well as more than 150 international markets in 33 countries
No monthly account or subscription fee
The big draw card for Interactive Brokers is its minimum and clear brokerage fee structure, alongside access to more than 150 international markets and the ability to trade in bonds, stocks, options, futures, funds, CFDs, and foreign exchange.
There are no account minimums for individual, joint, trust and org accounts, nor any monthly account or subscription fees, but there are other caveats that users must be aware of before signing up. For one, ASX trades are not CHESS-sponsored. Instead, your shares are held in a custodial model. You also can’t access live pricing data unless you sign up for a more premium account, and cryptocurrency trading is not available to Australian customers.
Fees are calculated in the currency that a trade is executed in, with Interactive Brokers Australia supporting five currencies—AUD, USD, GBP, EUR, HKD.
The initial minimum trade is $500. After that, it's $20
ASX, US, UK, Hong Kong
No monthly account or subscription fee
The initial minimum trade is $500. After that, it's $20
ASX, US, UK, Hong Kong
No monthly account or subscription fee
Stake offers low fees and a simple brokerage structure, helping traders gain a clear picture of their costs when it comes to trading both in Australia and overseas. After the initial minimum trade of $500 (which is standard for the industry), investors only have to put forth a minimum $20 for each trade. On top of that, the brokerage fee is $3 ($US3 if trading internationally) or 0.01% for trades over $30,000 Australian dollars.
These fees are consistent across shares and buying and selling ETFs, but those securities are the only ones that investors have access to with Stake—and only in a limited number of international markets compared others to the industry.
Minimum initial investment of $500 for AU shares, with subsequent buy-ins for same share being a minimum $100. There is no minimum for US shares
ASX and US
No monthly account or subscription fee
Minimum initial investment of $500 for AU shares, with subsequent buy-ins for same share being a minimum $100. There is no minimum for US shares
ASX and US
No monthly account or subscription fee
Pearler only provides access to the Australian and US markets for its users, but it does offer a flat fee of $6.50 AUD regardless of whether you’re trading here, on the NYSE, Nasdaq or even in ETFs. There’s a 0.5% flat fee per currency conversion charge between AUD and USD.
Additionally, while research from fund managers is minimal on the Pearler platform, it does have a social investor community and podcast available to its users. It also has an option to explore ‘kids’ investing’, allowing for younger generations to learn more about trading too.
$100
ASX and US
No monthly account or subscription fee
$100
ASX and US
No monthly account or subscription fee
Superhero is an Australian startup company, offering investors low, set fees across Australian and US markets. There is no monthly account or subscription fee, and regardless of whether you are trading on the ASX or US shares, the brokerage fee is a flat $5 for each trade.
What’s more, Superhero allows you to earn Qantas points when you link your frequent flyer account, and whenever you make a trade on the ASX.
In order to develop our best share trading platforms Australia list, Forbes Advisor compared more than 20 of the most popular share trading platforms.
Our methodology consisted of breaking down certain factors of each platform, for an easy contrast and comparison. These factors included, but were not limited to:
This data research was compiled with each share trading platform then receiving a ranking out of 5. The top 10 scoring were what made the best share trading platforms list as seen above.
You will note that we have included a star rating next to each product or provider. This rating was determined by the editorial team once all of the data points above were considered, and the pros and cons of each product attribute was reviewed. The star rating is solely the view of Forbes Advisor editorial staff. Commercial partners or advertisers have no bearing on the star rating or their inclusion on this list. Star ratings are only one factor to be considered, and Forbes Advisor encourages you to seek independent advice from an authorised financial adviser in relation to your own financial circumstances and investments before you decide to choose a particular financial product or service.
Data Research: Mia Dunn
Featured Partner Offer
On eToro’s Website
All your investments in one place
Join 30M users and explore stocks and ETFs
On Saxo’s Secure Website
Minimum trade
No minimum trade
Market Access
ASX, as well as more than 40 international markets.
Account Fees
No monthly account or subscription fee for classic account.
AFSL 491139. Capital at risk. See PDS and TMD
Put simply, share trading is the art of buying and selling a portion of a company with other traders. Ideally, share traders are looking to purchase stocks that will increase in value over time, and therefore make a profit on their investment when they sell the stocks to another trader.
The process of buying and selling shares is completed via the stock market, where the companies are listed and valued. The price of a company’s shares are determined by the supply and demand in the market.
The stock market fluctuates day-by-day, meaning the price of shares for a specific company can change at any time. This is often due to its present or predicted performance. For example, if there was negative news in the media about a specific company, you may see its share price plummet heavily as traders look to not lose money on their investment.
In order to access the stock market and complete these trades, Australians can use an online share trading platform (where you complete the trades yourself) or a full-service broker (someone who completes trades on your behalf).
In this article, we have looked at the best share trading platforms (which are ranked above), as well as what you should look for when choosing one to suit your investment goals.
Gone are the days when you needed to call your stock broker to place an order on your behalf, with most traders using share trading platforms to buy and sell stocks.
There are many benefits of share trading platforms and online brokers, the most obvious being that all that’s required is an internet connection in order to buy and sell your trades. Many are even now available on apps rather than just a desktop browser, allowing keen traders to make investment decisions with the tap of a finger.
Obviously, this can also come as a risk: having constant access to share trading platforms can see individuals become obsessed with checking the market throughout the day, or making investment decisions on a whim–such as selling stocks at the first sign of trouble. Rather than making careful decisions via an analysis of the risks and benefits, traders could lured by impulsivity and see themselves locked into rash investments they’ve made (or lost) while standing in line for a coffee.
With so many share trading platforms available to investors, it’s hard to know what you should look for as you compare them all. The above list helps take guesswork out of it for you, with the following factors being highly regarded as important considerations:
Before signing up to a share trading platform, ensure that you can afford–and are happy to–pay the minimum investment. Often this is $500, but it can increase to over $1,000 or decrease significantly to $0 for smaller more niche platforms.
Sometimes this minimum investment is only for the first initial trade, while other times, there’s a minimum for every trade you make via the platform.
Additionally, some platforms may have introductory offers available to new customers that waive these minimum initial investments, or a certain amount of free trades depending on how their minimum investment conditions are set up.
Ensure you are aware of any minimum investment requirements before signing up to a share trading platform, as it is an additional cost you need to consider in your investment journey.
There are numerous fees associated with share trading, regardless of how you choose to trade. When looking at a trading platform or online broker, you need to understand what fees you will face for having an account and when you made a trade.
The common fees to be aware of are account fees or subscription fees, brokerage fees, ETF trading fees, international trading fees, withdrawal fees, and currency conversion fees.
The ASX fluctuates throughout the day, with changes happening minute-by-minute. This is why knowing whether live-pricing is available via your chosen share trading platform is important, as you want to know where your investment stands in real time.
Some automatically offer live pricing to all users, while other platforms may charge a fee in order to access live-pricing feeds.
There’s a lot of lingo when it comes to investing, and CHESS-sponsored trades is another one to add to your investment encyclopedia. Put simply, CHESS-sponsored trades means the ASX has a record of you owning the shares directly.
If your share trading platform operates with a CHESS-sponsored model, you’ll be provided with a Holder Identification Number (HIN) if you don’t already have one. If you do, you can transfer your HIN between brokers.
The HIN is then how the ASX recognises which shares you own. This then means that if the trading platform or online broker you are using happens to go under, your ownership of the shares will still be recognised.
Some brokers, however, choose to use a custodial model for the ASX (international shares are traded in this manner). Those that use a custodial model for buying and selling on the ASX often have cheaper fees, but they do not have the protection of guaranteeing your share ownership if something were to go wrong.
Therefore, it’s important to understand what system a platform operates from, so that you know how your ownership of shares will be treated in the event something goes wrong.
The above factors are all important considerations for any investor choosing a share trading platform, but for some traders, there might additional desires, such as exposure to international markets or alternative assets for diversification or educational resources and social interaction with other investors.
Consider whether you want the following before settling on a share trading platform:
The vast majority of share trading platforms available in Australia are going to offer access to the ASX, considering that is the nation’s stock exchange. Indeed, all of the platforms and online brokers analysed by Forbes Advisor above have ASX access.
What some traders may be looking for, however, is access to international trade markets as well. This may only be access to US markets–such as Nasdaq and the NYSE–or any number of markets around the world. Some platforms have access to hundreds while some only have access to a few international markets–or none at all.
Depending on how you are wanting to trade will depend on whether international market access is an important feature of a share trading platform for you.
Along with international trading, some investors may be looking to buy and sell more than shares. You may want to invest in cryptocurrencies via your share trading platform, or even commodities, such as gold and silver.
It’s quite common for online brokers to offer the buying and selling of ETFs alongside shares, but other securities may be more difficult to find on certain platforms (and is often the reason for higher fees). Consider what you are looking to trade in–and make sure the online trading platform allows for it–before committing to a platform.
Regardless of where you are in your investment journey, you may be interested in having access to trading guidance tools while making investment decisions.
This could simply look like access to research on stocks from leading fund managers, such as Goldman Sachs or Morningstar. Alternatively, it could look like more in-depth support and educational tools, such video tutorials.
There are even more advanced training tools available, including demo models that allow you to practice trading without actually putting down any money, or training academies to help you learn how to invest responsibly.
This entirely depends on your investment needs and risk-tolerance. However, many beginners opt for Pearler, as it offers a flat fee structure of $6.50, so investors aren’t caught out with complicated fee tiers, along with a range of educational tools to help guide individuals on their investment journey.
It also has an option to explore ‘kids’ investing’, allowing for younger generations to learn more about trading as well. This is just one of many share trading platforms that beginners may be interested in.
To find the right share trading platform for you, consider some key factors of what you would like your investment journey to look like: how much are you willing to invest, what type of investments are you looking to make, do you want to be able to see pricing updates live?
Considering these factors will enable you to find a share trading platform that suits you best. Our pick of the favourites include CommSec, CNC Markets and NABtrade, but it’s worth testing a few out and seeing what works for you.
Forbes Advisor Australia ranked a wide range of share trading platforms above, using a meticulous analysis in order to do so. Among our favourites are CommSec, NABtrade and CMC Markets. Nevertheless, our top picks may not necessarily be right for you and your investment goals.
It’s best to do your own research before deciding which platform to use.
Many commentators claim that intraday trading—whereby you buy and sell shares in the same day—is the best way to maximise profits. However, this is predicated on an excellent ability to time the market as well as a knowledge of the right stocks to buy. Very few, if any, traders have this sixth sense. In reality, the best way to ensure returns in the long-run is investing for the long-term—and being willing to ride out any market dips.
Sophie Venz is an experienced editor and features reporter, and has previously worked in the small business and start-up reporting space. Previously the Associate Editor of SmartCompany, Sophie has worked closely with finance experts and columnists around Australia and internationally.