10 "Best" Stock Trading Platforms in Australia (2024) (2024)

Share trading doesn’t require an insane trading rig with 20 screens.

It does, however, require a secure online trading platform that allows you to segment data more effectively.

Over the last 3 years, I’ve tried many online trading platforms. Through my research and testing, I’ve created a list of those that stand out.

In my guide below you’ll see the best trading platforms that are the go-to brokers in Australia.

I’ve had some great experiences and also some pretty bad ones.

Below are my top recommendations for share trading online.

Table of Contents:

• Best Share Trading Platforms in Australia
• Australian Share Trading Platform Guide
• Australian Stock Trading Laws
• Finding The Top Trading Platform

1. Best Share Trading Platform in Australia – eToro
2. Well-Designed CFD Platform – Plus500
3. Best Forex Trading Platform – Pepperstone
4. Most Available Markets – CMC Markets
5. Best Trading Platform for Newbies – IG Share Trading
6. Best Bank for Share Trading – CommSec
7. Cheapest Online Trading Platform – SelfWealth
8. Easy Account Opening – Capital.com
9. Best Low-Cost Trading Platform – Superhero
10. Broker with the Most Transparent Fees – Sharesies

1. Best Trading Platform Overall in Australia — eToro

• Brokerage: Either $8.00 or 0.1%.
• CopyTrader technology allows for social trading
• Type of broker: Online only
• ASX products: Shares
• Support: website help section and live chat.
• Available Markets: 47 global currency pairings, stock, commodities, cryptocurrency
• Authorised by the Australian Securities and Investments Commission (ASIC)

Visit eToro

eToro AUS Capital Ltd ACN 612 791 803 AFSL 491139. OTC Derivatives are speculative and leveraged. Capital is at risk. See PDS

What is eToro?

eToro is a social trading platform designed for beginner investors with limited time. More than 15+ million active users in over 140 countries make it the largest social trading network in the world. allowing you to trade over 2000 stocks, 40+ currencies, 140+ different EFTs, and 90+ cryptocurrencies.

Although it is not listed on any stock exchange, eToro provides its services to Australians through an entity regulated by the Australian Securities and Investment Commission (ASIC). This means you get instant access to over 2,000 stocks including popular stocks such as Tesla, Google, Apple, and Amazon.

Even though it doesn’t have a parent bank and does not disclose its annual report, eToro is regarded as safe because its Australian and UK arms are regulated by top-tier financial authorities such as ASIC.

Read our full eToro review or sign up directly to eToro and get started today.

Introducing Social Trading With eToro

Social trading is relatively new in the investment landscape. It is a concept that allows online investors to follow the behaviour of leading investors by learning from them and imitating their actions.

This unique niche it has carved out for itself with its narrow focus on social and copy trading has spurred rapid growth. The distinguishing feature of eToro’s proprietary platform is the ease with which it allows a single investor to implement copy trading.

Its model hinges on the willingness of many traders, especially the successful ones who follow risk-control rules, to be copied. It then provides accessibility and proximity to retail account traders to mimic and imitate these trading strategies, and even the trades of the most successful investors on the platform, both automatically and in real-time.

This isn’t an entirely unique concept, as other brokerages have implemented copy trading to varying degrees. However, what distinguishes eToro from the pack is how it has deftly integrated social media communication with its concept.

On the plus side, eToro makes it super easy and convenient to trade commodities, forex, and cryptocurrency by providing investors with the ability to follow others with a profitable track record.

CopyTrader Tech

However, while you can leverage its patented CopyTrader™ technology to connect with other traders to discuss trading strategies, and automatically copy their trading portfolio performance, it is no guarantee of your own success.

Signing Up With eToro Australia

eToro Australia provides a lot of range and versatility to its subscribers, with 47 currency pairs/quotations on worldwide forex markets, including major currencies such as EUR/USD, along with a wide variety of exotics.

Key Features:

• ☑️ Delivers effective copy trading feature
• ☑️ World’s largest social trading network
• ☑️ Lack of variety in currency denomination, as only USD is currently supported
• ☑️ Great educational opportunities through copy trading, market data and news

Apart from its stellar reputation for social communications, its cryptocurrency impact hasn’t gone unnoticed, with eToro being recognised as the best broker for cryptos meaning you can trade Bitcoin, Ethereum, and many others. In addition, there are also over 90 crypto-related assets available to trade.

Check out our eToro review for more information.

2. Well-Designed CFD Platform – Plus500

• Brokerage: Europe 50 CFD average fees + High forex fees
• Type of broker: CFD provider, Online only
• Support: Live chat available 24/7
• Authorised by the Australian Securities and Investments Commission (ASIC)

For more detailed information visit: https://www.plus500.com/Help/FeesCharges

Visit Plus500

CFDs are a leveraged product and can result in the loss of your entire balance. Trading CFDs may not be suitable for you. Please consider whether you fall within Plus500’s Target Market Determination available in its Terms and Agreements. Please ensure you fully understand the risks involved.

Plus500 was founded back in 2008, quickly taking the trading world by storm. It has a well-designed platform that’s filled with useful tools, plenty of markets, and educational resources to help investors amp up their trading abilities.

Though it offers a promising list of features, its portfolio is limited, and it lacks key advanced analysis features other online brokers tend to have.

Illustrative Prices

Opening an Account with Plus500

A demo account can be opened in a few minutes.

Investors should wait longer to trade on the real account since their documents need to be checked and approved first. Even though the process requires identity verification, the process runs smoothly and takes place in a secured browser.

Plus500 Mobile Trading App

To get access to updates around the clock, investors can download the mobile app and make a few clicks to make trades, browse market activity, and even add funds to their accounts. The mobile app gives investors access to alerts and automatic trades, so that they can easily manage their accounts and never miss a moment.

Plus500 Charting

Investors can use charting as a way to decide whether or not to make trades. It’s a strong option for analysis, and the charging option with Plus 500 is advanced and interactive. It takes a look at tons of technical indicators and gives traders the option to save charts for later analysis.

Key Features:

• ☑️ Access to chart analysis tools and news updates
• ☑️ Interactive app with around-the-clock access to the market
• ☑️ Customer care that’s easy to contact and available 24/7

Learn more about Plus500 by checking out our in-depth review.

Disclaimer: CFDs are a leveraged product and can result in the loss of your entire balance. Trading CFDs may not be suitable for you. Please consider whether you fall within Plus500’s Target Market Determination available in its Terms and Agreements. Please ensure you fully understand the risks involved.

Plus500AU Pty Ltd (ACN 153301681), licensed by: ASIC in Australia, AFSL #417727, FMA in New Zealand, FSP #486026; Authorised Financial Services Provider in South Africa, FSP #47546. You do not own or have any rights to the underlying assets. Consider if you fall within our Target Market Distribution. Please refer to the Disclosure documents available on the website.

3. Best Forex Trading Platform — Pepperstone

• Brokerage: Low forex/equity fees – High CFD Fees (commissions are only charged on CFD Razor accounts when trading forex and CFD Equities)
• Type of broker: Online only
• ASX products: forex, CFDs on Indices, Commodities, Cryptocurrencies and Shares
• Support: 24/5 (Weekdays) Live Chat with extended hours during the weekend
• Base currencies available: AUD, USD, GBP, EUR, CHF, HKD, SGD, JPY and NZD
• Available Markets: forex, cryptocurrencies and equity index CFDs and ETFs

Visit Pepperstone

Established back in 2010, Pepperstone hasn’t been in the market as long as some of the other trading platforms on our list. Albeit, it’s certainly one of the best. Today, it is highly valued by industry professionals and skilled investors alike. It offers several platforms to choose from, including cTrader, MT5, MT4, and TradingView.

Pepperstone has something for every type of investor. It has since branched out, launching in the UK so that European traders can expand their portfolio in a low-cost environment.

Signing Up With Pepperstone

At Pepperstone, there are two account options to choose from: the Razor account and the Standard account. The core features of both are essentially the same, the only main difference is the overall fee structure. With a Razor account, you must pay commission for all sides of the trade, whereas Standard accounts are commission-free.

Opening an account with Pepperstone is fast, and user-friendly, you don’t even have to put a deposit down to open up a Standard account. Be that as it may, Pepperstone recommends putting a minimum deposit of AU$200 (or equivalent) into your account to get things started.

With 9 base currencies from which to choose, you don’t have to worry about paying a ridiculous currency conversion fee, either.

Low Commission Fees

Compared to the great majority of trading platforms, Pepperstone prides itself in having low trading, equity index, and forex fees. Non-trading fees are also low since no account or inactivity fees are charged.

As a result of low commissions, traders can grow their portfolios in a low-cost setting. In terms of spread betting, the average spread for currency pairs such as USD/EUR in a commission-free Standard account wharves between 0.69 to 0.92 pips.

That said, CFD financing rates are fairly high, since you have to pay a fee for things such as holding CFD positions overnight. In contrast with some of the other trading platforms on this list, Pepperstone has a relatively limited product portfolio as it only offers forex, cryptocurrencies and equity index CFDs.

On the positive side, it offers a seamless deposit and withdrawal process that is, in most cases, free of charge. This helps make it one of the best forex trading platforms in Australia.

Unique Features

The low-cost setting is accompanied by three fairly unique features: cTrader Automate, Smart Trader Tools and Social Trading. Each enhances the basic services and shows how much Pepperstone is committed to catering to the requirements of its traders.

The cTrader Automate API is part of the cTrader platform and enables developers and traders to create custom automated trading solutions and indicators. The API is there to support everything related to CFDs and trading forex and includes trading history and market data.

The Smart Trader Tools package consists of 28 trading apps available for MT4 and MT5 trading platforms to help optimise your trading strategy and risk management. It doesn’t take a genius to use, install and access them.

Pepperstone has partnered with a variety of social trading platforms, giving traders the choice of Myfxbook, MetaTrader Signals and DupliTrade. Some allow you to create a portfolio without paying management fees, while others require a minimum deposit. As a trader, it is your job to determine which service is most suitable for you.

Despite all of the fantastic features, trading CFDs carries a high degree of risk compared to trading shares and therefore success is not guaranteed. It is reported that 76.5% of retail investor accounts actually lose money when trading CFDs with Pepperstone. Having said that, despite the risk that comes with CFD trading, Pepperstone admittedly makes it very simple to trade CFDs.

Key Features:

• ☑️ Award-winning broker with awards from Deloitte, Investment Trends and the Governor of Victoria.
• ☑️ User-friendly deposit and withdrawal process.
• ☑️ Low trading, equity index, and forex fees.
• ☑️ Outstanding, 24/5 online customer service.
• ☑️ Regulated by the Australian Securities and Investments Commission (ASIC), the UK Financial Conduct Authority (FCA), CySEC, BaFin, DFSA, CMA, SCB

Trading CFDs and FX is risky. It isn’t suitable for everyone and if you are a professional client, you could lose substantially more than your initial investment. You don’t own or have rights in the underlying assets. Past performance is no indication of future performance and tax laws are subject to change.

4. Most Available Markets  — CMC Markets

• Brokerage: $11 or 0.10% for first 10 trades
• Type of broker: Online only
• Product Name(s):
• ASX products: Shares, TRaCRS, IPOs/floats, Warrants
• Support: Live chat, email, and phone.
• Available Markets: ASX, NASDAQ, NYSE, Hong Kong Stock Exchange, Tokyo Stock Exchange, the London Stock Exchange, Euronext, AMEX, and more.

Visit CMC Markets

CMC has been in the market for quite a while  —  30 years and counting  —  and in the process has solidified its position as a trading services powerhouse. This derivatives dealer has offices in major financial centres and provides Australians with a wide range of offerings through its CMC Markets Stockbroking Account and Next Generation trading platform.

Australia’s best-value online broker is packed with innovative tools at excellent pricing. It is both versatile and unique, providing Australians with the ability to trade both locally and internationally, whether it be on shares, bonds, commodities, indices, or Exchange Trade Options (ETOs).

Great for Trading Both on ASX and Overseas Markets

Even if you’re outside the boundaries of Australia, CMC has a truly sophisticated international bent and reach. It provides online trading to foreign exchange across world markets, in addition to providing complex instruments such as spread betting, and contracts for differences (CFD) for the more advanced traders.

As a result, CMC enables the average Australian investor to access a much broader range of investment products, both locally and overseas.

This broad range of useful features is one of the reasons CMC has been crowned as Canstar’s Broker of the Year for the past eight years. Further burnishing its reputation as undisputed overall leader is the fact that it has also won other multiple industry awards for customer satisfaction and overall value for money.

Paperwork Issues

That being said, our reviews caught some areas of customer discontent, especially surrounding the provision of certain amenities that a trading platform of its calibre ought to have. For example, as at the time of this article, it lacks a feature that allows users to pull up capital gains loss/tax at the end of the fiscal year.

Other frustrations boiled over concerning its turnaround time for handling paperwork. On the flip side, users commend the fact that it is the cheapest per trade and happily note that the price is further discounted when you trade on it more often.

If speed is a competitive advantage, CMC Markets has it in spades. It offers traders the ability to execute fast trades with low brokerage, coupled with a range of integrated research tools.

Less Is More

CMC should perhaps also be considered for a Casual Trader Award for its CMC Classics account. Designated for investors who trade less than 10 times a month, it only costs $11 or 0.1% per trade, whichever amount is greater.

If you fall within this category of trading frequency, you will also appreciate its substantial library of educational resources like videos, ebooks, podcasts, and articles.

Apart from its impressive suite of resources, CMC’s Active Investor account also provides a deeper level of market-leading service with the addition of an expert local support centre. This account comes with the Pro version of the CMC platform, and is tailored for those who do 30 trades each month at a cost of $9.90 or 0.08% for each trade, whichever one is greater.

Key Features and Takeaways:

• ☑️ Market data that is up-to-date
• ☑️ Multiple channel trading
• ☑️ Order types to help hedge risk
• ☑️ Its 3 membership options split account types into Classic, Active Investor and Premium Trader to hedge your risks.
  • Classic – This is CMC Market’s standard platform that comprises primarily low brokerage fees but with a host of useful features on a world-class platform.
  • Active Investor – All Classic features, plus free access to daily emails providing technical analysis and data, in addition to eScreener research reports.
  • Premium Trader – All Active Investor features in addition to exclusive access to CMC Premium Client events and educational resources, free tax and portfolio reporting.
• ☑️ An award-winning provider with a wide range of trading options with a full suite of investment options from shares to managed funds.

• Brokerage: Either $8.00 or 0.1%.
• Type of broker: Online only
• Product Name(s):
• ASX products: Shares
• Support: Live chat, email, and phone.
• Available Markets: ASX, the London Stock Exchange, AMEX, NASDAQ, NYSE

Visit IG

Well, IG has a lot of things going for it, namely: it is an established provider, founded in 1974. It boasts of an excellent trading platform that is able to go toe-to-toe with any industry leader, especially its mobile app which has one of the most comprehensive charting packages among all the brokers.

This global online share trading provider has built a solid reputation by charging some of the lowest brokerage fees for Australian share trading: $8.00 or 0.1% per trade, whichever figure is greater.

In addition to a monthly fee waiver, unlike most trading platforms, it also sweetens the deal by incentivising traders with free Qantas points with each trade.

IG’s share trading through its intuitive platforms and apps allows you to buy and sell shares for much less, and from a wide range of international markets. Its breadth is far-reaching, offering its users access to Australian shares, along with the opportunity to trade more than 11,000 international shares at $10 USD per trade and a foreign exchange rate of just 0.3%.

Great UX and Design for Day Trading

While affordability and reliability are primarily what it is known for, IG’s sharing dealing experience is remarkable, deftly combined with excellent trading tools.

IG provides a consistent and seamless user-friendly experience on its trading platform which extends to its mobile app. These include excellent technical analysis features, along with mechanisms for screening and charting.

This trading platform mixes fundamental research with third-party features and tools which are high-quality, like Trading Central and Auto Chartist. These aim to give traders invaluable actionable insights to place better trades, especially for beginners.

Speaking of beginner traders, IG also includes an exceptional education segment that provides weekly webinars, trading courses, and live sessions. Its IG Academy can be accessed through either the website or mobile app.

IG Academy is filled with trading courses that can be easily accessed online, covering all levels of trading. There are weekly webinars, along with live sessions which are provided every weekday. These courses are designed to save time and usually take between 20-85 minutes to complete.

IG enables investors to trade over 9,000 shares across 19 international exchanges, ETFs, investment trusts, and funds.

Key Features:

• ☑️ Cheap FX and brokerage rate
• ☑️ An established, respected provider
• ☑️ Offers Qantas Points as incentives
• ☑️ Providers both Australian and international share trading

6. Best Bank for Share Trading – CommSec

• Brokerage: $10.
• Type of broker: Online only
• Product Name(s): CommSec Share Trading Account.
• Available Markets: ASX, AMEX, NASDAQ, NYSE
• Support: Email, and phone.
• ASX products: Company issued options, Shares, Endowment warrants, Instalment warrants, IPOs/floats.

Visit CommSec

One of the largest online brokers in Australia, CommSec is wholly owned by the Commonwealth Bank, serving as its trading arm. However, you don’t have to be a customer of Commonwealth Bank in order to open a CommSec Share Trading Account.

This trusted brand provides trading exposure to international markets with access to 25 exchanges throughout the world. It has a simple sign-up mechanism that allows you to get up and running as quickly as possible, perhaps trading in as little as 5 minutes from sign-up.

While its shares trading fees are expensive, CommSec attempts to balance this by providing traders with a valuable variety of trading tools and market research, including news and data monitoring tools. Moreover, it charges no inactivity fee.

CommSec Pocket

With the launch of CommSec Pocket, a new micro-investing app which turns saving into investments, CommSec is signalling innovation leadership.

Touting itself as a product that provides simplified investing anywhere and at any time, CommSec Pocket allows you to start investing with as little as $50. This micro-investing mainly targets new investors with very competitive brokerage fees, in addition to its low minimum investment requirement.

CommSec Pocket’s brokerage fees start at just $2, which favourably compares to the normal minimum first investment of $500 offered by most trading platforms for share trading and brokerage fees of around $10-$25. Because it is focused on savers who have not yet made the leap into investing, it provides a list of exchange-traded funds (ETFs) in an easy-to-understand format.

Missing Live Chat Support

However, its disadvantages include having no live chat support and charging for WebIRESS charting services. which can be paired and unified with a Commonwealth Direct Investment Account (CDIA),

Up-to-date market prices and data are made available by the CommSec Share Trading Account, which provides them in real-time. It also permits you to access videos, reports, and analyses from CommSec analysts directly inside its platform.

This hub of insights is designed to support all skill levels through comprehensive analysis by a team of market analysts and economists.

These educational insights allow investors to develop and hone their skills along the way. Speaking of trading along the way, the free CommSec Equities App allows you to stay on top of the market wherever you are, and whenever you like.

Key Features:

• ☑️ Single Commonwealth Bank Login – This single login provides a unified interface which eases switching between CommSec and NetBank and helps to integrate all your finances in one place. You will need to set up a Commonwealth Direct Investment Account (CDIA) transaction account.
• ☑️ It accommodates both novice and advanced investors through a robust set of features that are simultaneously simple for both categories to grasp.
• ☑️ Prices, news, and research provided in real-time: Good effort made to keep investors up to date with daily updates and live commentary from industry experts with the latest news from Australian investment markets.
• ☑️ No minimum trading requirement is imposed on standard Australian shares account.
• ☑️ No inactivity fee is charged.
• ☑️ Brokerage fees for trades over $1,000 tend to be high.
• ☑️ CommSec Pocket app provides 7 simplified investment options to choose from, namely: Aussie Top 200, Global 100, Emerging Markets, Aussie Dividends, Tech Savvy, Sustainability Leaders, and Health Wise

7. Cheapest Online Trading Platform – SelfWealth

• Brokerage: $9.50.
• Type of broker: Online only
• Product Name(s): CommSec Share Trading Account.
• ASX products: Shares only.
• Available Markets: ASX
• Support: Live chat and email.
• Copy Trading

Visit SelfWealth

SelfWealth touts itself as Australia’s cheapest online broker, and it has the awards to back up its claim. Apart from its award-winning pedigree, (Money Magazine has crowned it with the Best of the Best Awards for Cheapest Online Broker for three years in a row) it has established exceptional online and mobile trading tools that provide investors with value for money.

Well-Known & Respected

Its other accolades over the years include being named as Finder’s Best Share Trading Account for Australian equities (2019), Fintech Business of the Year award (2016) for the ease of its online platform, and several for Software Innovation at the Australian Business awards (2016 and 2017).

SelfWealth allows investors to buy and sell shares for a flat brokerage fee of $9.50 per trade. However, its clarion call is to help its members get returns without the downside of paying commissions.

There is transparency of transaction costs, and no hidden commissions is a huge part of SelfWealth’s appeal. Another refreshing fallout of this policy is that investors can readily predict their trading costs even before taking a position.

This is designed to let the users of its platform make an informed decision upfront as to whether or not SelfWealth is a good fit for their particular circ*mstances.

Copy Trading (Again)

Sharing some similarities with eToro’s copy trading feature, SelfWealth was conceptualised to allow individual investors to build a target portfolio by benchmarking their own portfolio against like-minded investors, in order to mirror how they trade.

Investors seeking out ideas from other investors and monitoring their peers’ performance is meant to remove the roadblock of doubt regarding the quality of stock ideas presented to investors.

SelfWealth offers two products namely, SelfWealth INTELLIGENCE and SelfWealth TRADING.

SelfWealth INTELLIGENCE

The aforementioned copy trading is facilitated by SelfWealth INTELLIGENCE, which provides a suite of tools to facilitate the benchmarking of an account against the performance of similar-minded investors. It includes features that allow the measurement of comparative performance and risk of a portfolio, along with the ability to review featured stocks.

SelfWealth TRADING

On the other hand, SelfWealth TRADING grants investors the ability to trade shares at a competitive price. It applies a flat fee of $9.50, regardless of the trade size, thereby providing clear benefits to all investors, but especially those who are trading large parcels of shares.

Unfortunately, SelfWealth users who want to broaden their portfolio with more global fare are stymied because international share trading isn’t available.

However, the breadth of informative materials is a breath of fresh air, as SelfWealth allows viewing of your daily performance and estimated earnings, in addition to the top stocks of the day.

The platform also issues a SafetyRating and WealthScore. The SafetyRating score enables you to know how diverse your portfolio is, while the WealthScor represents the health of the portfolio.

Key Features:

• ☑️ Transparency of costs through a clear, fixed, flat-fee brokerage: Unlike platforms like CommSec where any trade above $1,000 will usually cost you around $20. Moreover, you own your shares directly without them being held under custody on your behalf.
• ☑️ Cheapest in Australia with no hidden account fees and costs: SelfWealth doesn’t charge monthly account fees, dormancy fees, and hidden commissions. This guarantees that the bulk of your trading effort accrues to you.
• ☑️ Access to free live market data available to members
• ☑️ Stock research tools along with powerful community data that you can benchmark and learn from
• ☑️ No minimum balance required.
• ☑️ No commissions charged

8. Easy Account Opening – Capital.com

• Brokerage: $0 brokerage fees
• Type of broker: Online only
• ASX products: Stocks and Forex
• Support: Live Chat, Phone, Email, WhatsApp
• Available Markets: Forex, Cryptocurrencies, CFDs, Commodities
• Authorised by the Australian Securities and Investments Commission (ASIC)

Visit Capital.com

Capital.com was founded back in 2016, climbing its way to the top as a top online broker. It currently operates in more than 50 countries and has served more than 1,000,000 clients over the years. One of the top perks of Capital.com is the varied market, allowing Aussies to diversify their investments all in one place. New traders can take advantage of a demo account where they can learn the ropes and minimum deposits start as low as $20 in some markets.

The Trading Platform

The design of the trading platform is made for customer experience, with a seamless experience from signup to making trades and withdrawals. Investors of all levels have access to detailed figures, charts, and advanced analysis tools. Capital.com is compatible with MT4, helping investors take their market analysis to the next level.

The Variety

One of the key things that I love about Capital.com is the wide range of markets available for traders in Australia. The markets available include:

• 20+ commodities
• 130+ cryptocurrencies
• 120+ forex pairs
• 20+ indices

Key Features:

• ☑️ Compatible with MT4
• ☑️ $0 brokerage fees and inactivity fees
• ☑️ Access to demo accounts for practice
• ☑️ Ai-integrated tools for better market analysis
• ☑️ Solid customer care that’s there 24/7
• ☑️ Offers a long list of markets including forex and crypto
• ☑️ Easy account opening, including quick signup to trade time.

9. Best Low-Cost Trading Platform – Superhero

• Brokerage: $0 for US stocks and $5 flat fee for ASX
• Type of broker: Online only
• ASX products: Shares
• Support: Live chat and email support
• Available markets: ASX and US
• Authorised by the Australian Securities and Investments Commission (ASIC)

Visit Superhero

Superhero has made a name for itself as a low-cost broker that is perfect for traders of all types. Its low fees and access to both ASX and US shares are what makes it attractive, though there are some limitations that traders should know about involving features and access to advanced analysis tools.

Zero Brokerage

Perhaps the key thing that gets Superhero most of the attention is its zero brokerage. That means that traders can make trades without losing any of their profits to brokerage. Apart from brokerage fees, there are virtually no other fees to worry about, which is one of the main reasons why it’s made our list as the best low-cost online trading option.

Superhero Tax Reporting

Keeping up with all the funds and taxes can be difficult, which is why users will benefit from tax reporting. Superhero keeps traders’ information organised and accessible, making sure that, when tax time comes, they can access their numbers and file without any hassle.

Low Minimum Deposits

All traders can open their accounts and start trading by adding as little as $100. This plus the simplicity of opening an account makes it a great option for even the newest traders. They can use their first $100 to start trading or use some of the tools to find the best options for making trades.

Key Features:

• ☑️ Low fees
• ☑️ Zero brokerage fees for all trades
• ☑️ Limited portfolio and access to ASX and US shares only

• Brokerage: 0.5% up to $3,000 for trades and 0.1% above $3,000
• Type of broker: Online only
• ASX products: Shares, Forex, and CFDs
• Support: Live chat and email Monday – Saturday
• Available markets: ASX shares and EFTs
• Authorised by the Australian Securities and Investments Commission (ASIC)

Visit Sharesies

Transparent Fees

If there is one reason that I like Sharesies, it’s because of its transparent fees. It does charge a brokerage fee, though it is easy to find and simple to understand. There are never any hidden or unforeseen fees, which is exactly what you want in a broker. Take a peek and browse what the fees will be before you trade, assuring that it doesn’t get in the way of your final return.

Access to More than 3000 EFTs and Companies

Even if you’re a new investor, Sharesies is the perfect place to start trading and start to diversify your portfolio. Access to more than 3000 EFTs in Australia, the US, and New Zealand, increases your chances to walk away with more than you came with.

No matter which payment method you prefer, Sharesies is likely to have it available. It offers a number of payment options to choose from, some of which include debit cards, credit cards, and even using your bank account. There is no minimum payment required, which means that traders can start trading with as little or as much as they like.

Key Features:

• ☑️ No minimum investment required
• ☑️ Access to more than 3,000 shares
• ☑️ Easy to use and simple to join
• ☑️ No hidden fees to deal with
• ☑️ Access to a ton of payment options

While all trading platforms are not created equal, they have enough overlapping features that a fair assessment of their comparative strengths and liabilities can be made.

To save you the trouble, I have researched and assessed their suitability through the various lenses a typical investor might use to gauge them, such as by comparing fees, the range of diverse offerings they provide (whether discount or full service), their features and trading tools.

What you are permitted to trade ✅

While some trading platforms only allow access to Australian shares, others are far more encompassing, permitting both international trades and more sophisticated instruments currencies, CFDs, forex, indices and much more.

Fees charged ✅

Virtually all online trading platforms charge fees for the use of their platform. For larger trades, some are calculated as a percentage of the transaction amount. These fees are also priced depending on how often the trades are placed.

Accessibility to market data and research ✅

A trading platform that offers dynamic, up-to-date, real-time data that investors can avail for actionable information is invaluable.

Ease of use ✅

User-friendliness is important even if you’re a grizzled investment veteran, but even more so if you are still a wet-behind-the-ears trader. Share market trading is complicated enough as it is without the task being made more cumbersome and difficult by the peculiarities of the trading platform.

Reporting ✅

The next important thing to making effective trades is tracking those trades effectively. A reporting tool keeps track of everything.

Margin loans ✅

Just as in business, access to other features such as security, education and customer support are important.

Australian Stock Trading Laws

Every country has rules and regulations regarding financial transactions, especially with regard to high-risk and volatile activities such as online trading. Australia is no exception, with the Australian Securities Exchange (ASX) maintaining operating rules designed to protect investors and maintain good faith and confidence in the market.

Much of Australia’s securities law and regulation revolves around mandatory disclosure and conduct. These are largely established to prevent improper practices connected with fraudulent dealing, false trading, and insider trading.

Most of what I have presented is a summarised and heavily abridged version. To gain a comprehensive look at the full body of ASX rules, click here.

ASX Operating Rules

There are several guidelines and regulations codified in the ASX Operating Rules manual, but because of time and space I will only focus on a handful that are fundamental to accessing the Australian market, and provide general and trading rules stipulations.

Access to the Australian Market

The three broad categories ASX uses to delineate market actors or participants, with regard to ASX market products, are Market Participant, Principal Trader, or Market Maker.

With regard to trading platforms, messages are only allowed to be entered into a platform by someone designated as a Trading Participant.

In order to legitimately gain access to the Australian market as a Market Participant, a potential investor must first lodge an application on a “form prescribed by ASX and satisfy ASX that it” meets any of the following criteria (this is an abridged listing, so for the full conditions and stipulations, go here):

• Possess an Australian Financial Services Licence which authorises the holder to carry on business as a Market Participant.
• Possess the adequate and requisite resources to comply and adhere to the obligations required under ASX rules.
• Has sufficient resources and adequate processes to prevent any occurrence, whether by action or inaction that results in a Product not being fair and orderly.
• Be a person of high business integrity.

The way the stature is written, it becomes obvious that the criteria for Trading Partner/Participant subsumes the role of Market Participant.

Those aspiring to become a Trading Participant under ASX’s trading platform have to demonstrate to the body that the applicant has the ability to maintain the knowledge and technical capacity required to execute the trading permission being sought.

Trading Rules

Trading rules are necessary to ensure the smooth and orderly operations of ASX market. These rules cover things such as how to maintain fair and orderly markets, handle requests for trade cancellations, communications with the platform, and so on.

A few trading rules are listed below:

• Fair and Orderly Markets: All trading messages must reflect accurate details. The Trading Participant is responsible for maintaining the integrity and bona fides of the communication.
  • If a trading message embedded with a Trading Participant’s unique identifier is submitted, the Trading Participant is responsible for that message because the system will assume it was submitted by the Trading Participant.
  • ASX may take any necessary action to ensure that a market for one or more products is fair, equitable, orderly and transparent including, but not limited to the following:
    • Cancelling or modifying a transaction
    • Suspending or halting trading in one or more Products for any period of time deemed necessary to rectify the underlying problem
    • Instructing a market participant to take – or not take – a particular course of action in connection with the affected markets
    • Directing that Products be settled at a price other than provided by the Rules, under such conditions that ASX determines
  • A Market Participant may not:
    • Take advantage or exploit a malfunction or breakdown in ASX trading systems or procedures
    • Do anything or take any action that will result in a Market for a Product not being fair or orderly
• Technical Failure: In the situation that access to a Trading Platform is impaired or affected due to system or communication failure, the ASX may decide to
  • Impose restrictions such as Session states that it considers appropriate in regard to the Product
  • Suspend or restrict the trading in one or more of the affected Products
  • Take any other steps it deems necessary to ameliorate the situation.

Finding The Top Trading Platform 🔝️

Stock trading is one of the most remarkable innovations of capitalism, allowing investors especially active traders, to take and dispense of ownership stakes in other businesses.

The best stock trading platforms in Australia allow you to do so seamlessly, with minimal hassles while providing you with the resources to make the most informed decisions along the way.

If you are already an active investor, you probably have a good idea of what you want in a brokerage platform, such as low costs, premium research, innovative strategy tools and a comprehensive trading platform.

The growth of mobile adoption in the financial arena also means that you can now trade your brokerage account from an online platform.

While this has increased benefits such as providing more educational experiences, comprehensive charting tools for day traders and a wider variety of order types for option traders, it has nevertheless added another layer of complexity by spurring a variety of different product categories.

So, while there are several trading platforms available for Australians looking to trade shares, with this abundance comes the challenge of finding the right trading platform based on individual priorities.

This is especially important if you are a new investor, where the correct brokerage account is much more than just a platform for placing trades.

The best trading platforms provide a solid investing foundation and are built to function as a lifelong portfolio co-pilot.

They are an integrated investment and analysis platforms that provide opportunities to teach, follow upcoming trading trends, and advise even as your skills and strategy mature and evolve.

The best platforms emphasise the importance of having the right tools to make an informed decision, so they incorporate features that provide traders with both a high-level and granular view of market operations.

In summary, there are plenty of things to consider when comparing trading platforms and I have distilled them in our categorisation of the best stock trading platforms in Australia.

Stock trading has come a long way since the era when the only way to invest in stocks was through licensed stock brokers, who were the only intermediaries permitted to place trades on your behalf. But this progress has brought along with it the urgency of finding the platform that provides the best strategic advantage for your type of trading.

While there are a lot of things to consider when choosing an online trading platform, it all boils down to how you intend to use the platform. To pierce the fog of confusion and provide clarity, especially for beginners just starting out, there are several questions that you need to ask.

In terms of the diversity of your portfolio, are you just buying local Australian shares or global shares as well? Are you a savvy, advanced investor, or are you a beginner just dipping your toe in the water?

Clear-cut answers to these questions will help clarify your needs and determine the type of share trading platform that will be the most beneficial in supporting them.

Digital security is extremely important when it comes to trading online.

Compromised accounts are a big issue that is rarely talked about. Just as you need to be careful when using your credit card online, you need to make sure you get all of the protection you need. With that in mind, let’s take a look at some of the other considerations you’ll need to be mindful of when trying to find a day trading platform.

Conclusion

Investing in shares is regarded as an integral part of every trader’s overall strategy of wealth creation. For active traders trying to beat the market, it is important to have a clear idea of the features you desire in a brokerage, such as innovative strategy, comprehensive tools, premium research, and low cost.

There are tradeoffs to be made in choosing an online trading platform, but the best of the breed manages to provide vital competitive advantages for the type of trader they cater to.

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