TOP 15 Best Trading Platform Australia 2024

What is an Online Trading Platform in Australia?

An online trading platform, essentially a digital brokerage, provides investors with a convenient and efficient way to buy and sell shares in Australian and international markets. These platforms have transformed the investment landscape, making it accessible to a broader range of individuals. By offering real-time market data, research tools, and the ability to execute trades electronically, online trading platforms have democratized investing, empowering people to take control of their financial futures.

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Whether you’re a seasoned investor or just starting, these platforms cater to various levels of experience and investment goals. Therefore, we would like to recommend the best trading platform Australia that suits your needs.

The Benefits of Best Trading Platform Australia

Best online investment platform Australia has revolutionized the investment landscape, offering a myriad of advantages for investors of all levels.

Convenience and Accessibility

These advantages stand out as primary benefits. These best trading platforms provide 24/7 access to global markets, allowing investors to monitor portfolios and execute trades at their convenience. Real-time market data and news updates keep traders informed, while intuitive interfaces simplify the trading process.

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Cost-Effectiveness 

Cost-effectiveness is another key advantage. Compared to traditional brokerage firms, the best online trading platform generally charges lower fees and commissions, making investing more affordable. This cost-efficiency empowers investors to retain a larger portion of their returns.

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Information Research 

Comprehensive information and research tools are essential for making informed investment decisions. Many platforms offer in-depth market analysis, charting tools, and educational resources to help investors stay ahead of the curve.

Control and Flexibility 

Control and flexibility are hallmarks of online trading. Investors have the autonomy to build and manage their portfolios according to their risk tolerance and financial goals. The ability to trade a diverse range of assets, from stocks and ETFs to options and derivatives, provides ample opportunities for portfolio diversification.

Democratization of Investing

Perhaps most significantly, the best trading platform Australia has democratized investing. By lowering barriers to entry and providing a user-friendly experience, these platforms have made investing accessible to a broader audience. This increased participation in the market has contributed to a more informed and engaged investor base.

How to Find The Best Trading Platform Australia for Beginners?

To help you select the best trading platform Australia, we consider these three steps as you evaluate your options.

Step 1: Understand about your needs in investment

The ideal best trading platform Australia for you hinges on your unique investment style and goals. Factors such as how often you buy or sell and the types of assets you prefer can significantly impact the platform’s suitability. Some platforms offer a wide range of investment options, spanning from stocks and ETFs to options and derivatives, while others focus on a more streamlined offering. Ultimately, the best platform will align with your specific investment needs and trading habits.

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Step 2: Compare fees about the best online trading platform Australia

Online trading platforms typically charge fees for buying and selling shares, plus an ongoing account maintenance fee in some cases. These charges can vary significantly between providers. Some platforms impose a flat fee per trade, while others calculate fees as a percentage of the trade value. Certain platforms even combine both methods, charging a flat fee for smaller trades and a percentage for larger ones.

How these fees are structured can impact your overall investment returns. For instance, a flat fee might be costly for small trades but beneficial for larger ones. Conversely, a percentage-based fee can be more expensive for high-value transactions. It’s essential to compare not just the fee amount but also how it’s calculated.

Additionally, the best trading platform Australia often charges ongoing account fees, although these can sometimes be waived or reduced based on trading activity. However, any potential savings from reduced fees might be offset by higher trading costs. To make the most of your investment, carefully consider all fees when choosing the best trading platform Australia.

Step 3: Look over the share trading platform’s features and service

The value of the best trading platform Australia hinges on a balance of costs and benefits. While fees are a significant factor, the platform’s features and services ultimately determine its worth. These include the ease of account setup and funding, the quality of research tools available to inform investment decisions, the range of trading features and market access, the platform’s role in managing share ownership, the convenience of account management and security, the level of customer support and education, and the simplicity of account closure.

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Top 15 Best Trading Platform Australia Recommended

Selecting the ideal best trading platform Australia is crucial for every investor, as it can significantly impact your investment journey. A top-tier platform not only reduces costs but also provides seamless access to your preferred stocks, and ETFs, and offers features tailored to your investment style. Therefore, here are 15 of the best share trading platforms in Australia that can support you in investment.

eToro

eToro claims the top spot for US equity trading thanks to its commission-free trades on NYSE and Nasdaq-listed stocks. The best trading platform Australia boasts robust trading features and is renowned for its social trading tools, allowing users to follow and mimic the trades of experienced investors or invest in pre-built themed portfolios. Beyond US stocks, eToro offers access to cryptocurrencies and shares from Australia, Europe, the UK, and Hong Kong.

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  • Pros and Cons of eToro

Trade US stocks commission-free with the best trading platform Australia packed with features. Enjoy the flexibility of fractional share ownership and advanced order types like conditional orders. However,

CFD trading involves significant risk. To leverage your investment, you’ll use CFDs, which are complex financial products. There’s a chance of losing more than your initial deposit. Additionally, an inactivity fee of $10 per month applies if your account is dormant for 12 consecutive months.

  • eToro Fees

Brokerage: Enjoy commission-free trading on Australian, US, and UK stocks.

Inactivity: A $10 monthly fee applies if your account is inactive for 12 consecutive months.

Currency Conversion: A 0.50% fee is charged on all currency conversions.

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Saxo

Saxo Markets offers a diverse best trading platform Australia, providing access to shares, bonds, cryptocurrencies, CFDs, and forex across over 50 global markets. To support informed decision-making, the platform furnishes investors with research from multiple fund managers and a comprehensive educational hub featuring webinars, articles, and detailed trading guides. It’s important to note that real-time market data requires a separate subscription, as standard pricing is delayed by 20 minutes.

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  • Pros and Cons of Saxo

The pros are diverse investment options with trading a wide range of securities, including cryptocurrencies and accessing over 50 international markets. On the other hand, potential costs are cons with fees that may apply for real-time market data and foreign currency conversions.

  • Saxo Fees

The classic account comes with no monthly fees or subscriptions. Live pricing data is available for an extra fee.

CommSec

CommSec is Australia’s leading online brokerage, offering investors a fee-free platform with no monthly account charges. With a minimum initial trade of $500, clients gain access to the Australian Securities Exchange (ASX) and a diverse range of 25 international markets. To support investment decisions, CommSec provides a robust suite of educational resources, catering to both novice and experienced traders seeking to expand their investment horizons.

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  • Pros and Cons of CommSec

While some platforms offer the advantage of accessing international markets and waiving account fees, they often impose high charges for international trades and currency conversions. Additionally, limited introductory offers or discounts may restrict cost savings for new users.

  • CommSec Fees 

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CMC Market Invest

CMC Invest claimed the top spot as Australia’s best overall trading platform in 2023. Its combination of robust trading tools and competitive pricing has struck a chord with investors. The platform’s user-friendly interface caters to beginners, while its advanced features satisfy seasoned traders. For those seeking a broader investment horizon, the Pro account unlocks access to currencies, commodities, and options. If you’re looking for a versatile platform that delivers, CMC Invest is worth considering as the best trading platform Australia.

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  • Pros and Cons of CMC Market Invest

Invest in Australian and global markets with competitive fees. This platform caters to both novice and experienced traders, offering robust research tools to support investment decisions. Enjoy low trading costs on Australian stocks and access to global markets is available, only four are commission-free.

  • CMC Market Invest Fees 

Australian Shares:

  • Buy orders up to $1,000: $0 commission
  • Other buy and sell orders: $11 or 0.10% of the trade value, whichever is higher

US Shares: $0 commission

UK Shares: £0 commission

Australian ETFs:

  • First buy order per ETF per day up to $1,000: $0 commission
  • Buy orders up to $10,000: $11 commission
  • Buy orders $15,000 or more: $15 commission

US ETFs: $0 commission

ASX Options: $33 per contract

US Options: Not available

Other Markets: Available

Inactivity Fee: $0

Currency Conversion Fee: 0.60% of the trade value

NABtrade

Nabtrade offers a free best trading platform Australia accessible to all Australian residents. Users can start investing with a minimum of $500 and gain access to the ASX and four major international markets: the US, UK, Hong Kong, and Germany.

For traders seeking advanced features and real-time market insights, Nabtrade provides premium tiers with additional costs. These higher-level subscriptions unlock premium charting tools, in-depth comparisons, and instant company alerts to help traders stay ahead of market trends.

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  • Pros and Cons of NABtrade 

This platform offers consistent fees for ASX shares, ETFs, and international trades, with the ability to trade warrants, options, and managed funds. It supports CHESS-sponsored ASX trades but comes with premium subscription fees and limited international market access. The platform’s fee structure is tiered and may be complex to understand.

  • NABtrade Fees 

There is no monthly account fee for any account level. While the basic account comes with no subscription charges, investors can opt for higher-tiered subscriptions that offer additional features for a fee.

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Go Markets

GO Markets is a suitable choice for Australian investors solely focused on the domestic market. Its simple fee structure of $7.70 per trade (up to $100,000) for shares and ETFs is straightforward. While offering forex and commodities trading, the platform’s primary strength lies in ASX access. Although GO Markets provides educational resources like video tutorials and market analysis, investors seeking in-depth stock research from fund managers may need to look elsewhere.

best trading platform australia

  • Pros and Cons of GO Markets

This platform offers low trading fees specifically for the ASX, allowing investors to trade ETFs, forex, and commodities. While it boasts a low minimum deposit, it’s limited to domestic trading and lacks research tools provided by fund managers. Additionally, educational resources are scarce.

  • Go Markets Fees 

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IG

IG stands out as our top choice for investors seeking low costs. With consistently competitive brokerage fees for ASX, US, and international stocks, regardless of investment amount, IG delivers significant savings. Additionally, its currency exchange fee of 0.70% is among the most competitive in the market, further enhancing its cost-effectiveness.

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  • Pros and Cons of IG 

IG’s platform offers a simulated trading environment with $20,000 of virtual funds to hone your skills. Once confident, you can transition to live trading on ASX and global markets, accessible via desktop or mobile. While the platform is designed for active traders who can dedicate time to market analysis and execution, it may not be suitable for those seeking a more casual investment approach.

  • IG Fees 

Brokerage fees for AU stocks and ETFs depend on your trading activity in the previous month. If you make 3 or more trades, you’ll pay a lower fee of $5 or 0.05% of the trade value. Otherwise, you’ll pay a higher fee of $8 or 0.1% of the trade value (whichever is higher).

US and UK stocks are free to trade.

There is no inactivity fee.

A currency conversion fee of 0.70% applies to all trades.

Syfe

Syfe is a pioneer in Australian robo-advice, offering diversified investment portfolios (smart baskets) matched to your risk profile and financial goals. With a minimal starting investment of just $1 and competitive fees, it’s incredibly accessible for new investors. Beyond robo-advice, Syfe empowers you to take control with direct purchasing of Australian and US stocks, ETFs, and even cryptocurrencies. Its user-friendly platform makes investing a breeze, making Syfe an excellent choice for those starting their investment journey.

best trading platform australia

  • Pros and Cons of Syfe 

With a minimum investment of just $1, this platform allows users to trade ASX and US stocks, as well as cryptocurrency. Designed with beginners in mind, it offers a user-friendly interface and pre-built investment portfolios. While lacking advanced features, it provides a straightforward way to invest in Australian and US markets.

  • Syfe Fees 

This broker offers tiered pricing for AU stocks and ETFs, with a lower fee for trades up to $20,000 and a higher percentage fee for trades above that amount.

US stock and ETF fees are flat fees.

There is no inactivity fee.

There is a currency conversion fee of 0.60% of the trade value.

Superhero

Superhero is a user-friendly best trading platform Australia ideally suited for both novice and seasoned investors. Its low $2 brokerage fee for trades up to $20,000, combined with features like auto-invest and instant funding, makes it a compelling choice. The platform’s standout feature is the ability to auto-invest from just $10, making it perfect for those practicing dollar-cost averaging in stocks or ETFs. Superhero further caters to long-term financial planning with its support for SMSF and superannuation accounts.

best trading platform australia

  • Pros and Cons of Superhero 

Superhero offers a straightforward platform with a flat $2 brokerage fee for both US and ASX stocks, along with convenient features like auto-investment and the ability to earn Qantas Points on eligible trades. There are no account or inactivity fees. While it caters to the basics, advanced traders may find Superhero lacking in features such as technical analysis tools, and currently, the platform only offers Australian and US stocks.

  • Superhero Fees 

Brokerage fees include a flat $2 charge for Australian and US stocks and ETFs for trades up to $20,000, increasing to 0.01% for larger trades.

UK stocks are currently unavailable on this platform.

There are no inactivity fees, but a 65 basis point currency conversion fee applies for foreign transactions.

Webull

Webull is our top pick for day traders in Australia due to its combination of low fees and powerful trading tools. The platform offers competitive rates for stocks, forex, and options trading, coupled with advanced features to support fast-paced trading styles. With access to Australian, US, Chinese (A-shares), and Hong Kong stocks, as well as US options, Webull provides a diverse market reach. Additional benefits include extended trading hours, in-depth technical analysis charts, and probability analysis tools, essential for making informed, split-second decisions.

best trading platform australia

  • Pros and Cons of Webull 

This platform provides access to stocks from Australia, the United States, China (A-Shares), and Hong Kong, with competitive fees for US options trading. Investors can benefit from a demo account, robust technical analysis tools, and high-quality research to support their investment decisions. While it offers a strong selection of markets, it’s important to note that ASX options trading is not available, and zero-commission trades are an introductory offer.

  • Webull Fees 

This platform charges a fee of $0.0003 per trade for Australian shares, with a minimum of $4.90 per trade.

For US shares, the fee is $0.00025 per trade value.

There are no fees for Australian or US ETFs, but options trading is only available for US shares at $0.50 per contract.

The platform does not charge an inactivity fee but applies a 0.50% currency conversion fee.

Interactive Brokers

Interactive Brokers is the undisputed leader in international share trading. Its extensive global market access, coupled with remarkably low brokerage and currency conversion fees, sets it apart. Investors gain exposure to a diverse range of markets, including unique offerings like Chinese, Mexican, Israeli, and over-the-counter (OTC) stocks, which are often unavailable through traditional Australian brokers.

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  • Pros and Cons of Interactive Brokers 

This platform provides access to shares from over 33 countries with competitive brokerage fees and currency conversion rates. It also offers a range of investment options including OTC and small-cap stocks. However, users might find the platform’s interface and fee structure relatively complex compared to other brokers.

  • Interactive Brokers Fees 

Brokerage fees vary depending on the stock market, the type of security, and the trade value.

Australian Stocks: Generally, a fee of $5 or 0.08% of the trade value (whichever is higher) applies for trades up to $3 million.

US Stocks: A fee of $0.0035 per share is charged, with a maximum of 1% of the total trade value.

UK Stocks: A fee of £1 or 0.05% of the trade value (whichever is higher) applies for trades up to £40 million.

Options: Fees for options contracts vary by market, but typically range from $0.25 to $0.65 per contract.

Other Fees: There’s no inactivity fee, but a currency conversion fee of 0.2% applies (with a minimum of $2 for transactions under $10,000).

Moomoo

Moomoo occupies a unique niche in the Australian brokerage market. Its competitive pricing, coupled with features like paper trading and a highly-rated mobile app, make it an attractive option for both novice and experienced investors. The platform excels in providing essential tools and low fees to support active trading styles. Investors can access stocks and ETFs from Australia, the US, and Hong Kong.

However, Moomoo’s product range is currently limited to stock trading. It lacks options trading, cryptocurrency, and automated investment features, which may be deal-breakers for some investors.

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  • Pros and Cons of Moomoo

This platform offers low-commission trading of Australian, US, and Hong Kong stocks, along with paper trading, social trading, and free access to live quotes, market research tools, and data. While it provides 24/5 US trading, its market coverage is limited, and the desktop platform might be overwhelming for beginners.

  • Moomoo Fees 

Australian Equities: 0.03% of the trade value, with a minimum fee of AUD3.

US Equities: A flat fee of US$0.99 per trade.

Hong Kong Equities: The greater of HK$3 or 0.03% of the trade value.

Stake

Stake offers a straightforward fee structure designed to be transparent for traders, both domestically and internationally. After an initial minimum trade of $500, investors can trade with a minimum of $20 per transaction. Brokerage fees are capped at $3 (or $US3 for international trades) for smaller amounts, and a 0.01% fee applies to trades exceeding AUD 30,000. This fee structure remains consistent across shares and ETFs. However, Stake’s offerings are limited to shares and ETFs, with a narrower selection of international markets compared to some competitors.

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  • Pros and Cons of Stake 

This platform offers low trading costs after the initial purchase, with a simple fee structure and CHESS-sponsored trades. However, it’s limited to trading shares and ETFs within Australia, lacking international market access and additional perks.

  • Stake Fees 

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Pearler

Pearler offers a straightforward pricing structure with a flat AUD 6.50 brokerage fee for all Australian and US trades, including ETFs. While this simplicity is appealing, users should be aware of the 0.5% currency conversion fee when trading US securities.

While the platform doesn’t provide extensive fund manager research, it fosters a community atmosphere through its social investor platform and podcast. Pearler also stands out with its “kids investing” feature, making it an option for families looking to introduce younger generations to the world of investing.

best trading platform australia

  • Pros and Cons of Pearler 

This platform offers a low barrier to entry with no minimum investment for US shares and a straightforward flat fee structure. While boasting competitive currency conversion rates, the platform’s focus is limited to trading shares and ETFs, with minimal fund manager research available. Additionally, live pricing information is only accessible at the checkout stage.

  • Pearler Fees 

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Tiger Brokers

Tiger Brokers is an excellent choice for investors seeking a unified platform to access Australian, US, and Hong Kong stocks, as well as US options. Its user-friendly interface and absence of minimum deposit requirements make it particularly appealing to retail investors. However, it’s essential to note that Tiger Brokers doesn’t currently offer trading for ASX options or European stocks, limiting its scope for some traders. If your investment focus is primarily on the Australian and US markets, Tiger Brokers could be a strong contender.

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  • Pros and Cons of Tiger Brokers

This platform offers trading on Australian, US, and Hong Kong stocks, including US options. Its user-friendly mobile app, competitive brokerage fees, and minimum deposit requirement make it accessible to various investors. Real-time quotes, generous sign-up bonuses, and a high-interest cash account are additional perks. While it provides CHESS-sponsored accounts, brokerage fees for ASX shares are slightly higher compared to some competitors. The platform’s educational resources and market offerings are limited.

  • Tiger Brokers Fees 

Standard brokerage fee is US $2

Thank you for reading it at the end and we hope through this article about the top 15 best trading platforms in Australia, you will have more options for your best online trading platform Australia. Have a good and full energy for work days!