Australia is a nation of investors, with more than nine million Australians currently directly in shares. More than 35% of Australian investors have a portfolio worth over $500,000 according to the ASX Investors, but you can start with just $100. While most investors in Australia have a broker account with the Commonwealth Bank-owned CommSec, brokers come in all shapes and sizes. Here's what to consider when finding the right platform for you. You'll want to consider how much you'll pay in transaction fees. Don't just look out for the headline number either. Some brokers may advertise a low flat fee but hide charges in the foreign exchange or in subscription services. You also want to look at what various brokerages will let you trade. Most Australian brokers will let you access the ASX but not all. Australia represents 2% of the global equity markets so if you want more opportunities then looking overseas is one of the ways to go about it. The other would be to see if you can access different securities like bonds, foreign exchange or even crypto. Another consideration is ownership - does the broker provide CHESS-sponsored ASX trades? CHESS is the name of the system used by the ASX to transfer shares between buyers and sellers. If you hold shares on the CHESS register, you are registered as the direct owner of the shares. If your broker is not CHESS-sponsored, then your shares are held on your behalf by a custodian which can present unique issues. There are at least 40 online brokers out there in the market, so we've compared features and prices of seven of the most popular in Australia. CMC Markets is no stranger to the share market game, having been founded in 1989 and establishing itself as a share, forex and CFD broker. In that vein it does lean towards traders with a bit more experience with a $1000 minimum trade value for global markets. It does however offer $0 brokerage on US, UK, Canadian and Japanese markets and $0 brokerage on one ASX trade per day up to $1000. The largest broker platform in Australia is the Commonwealth Bank-owned CommSec. The platform is feature-packed with live pricing and access to research by fund managers and research houses like Goldman Sachs and Morningstar. It offers access to multiple overseas markets including Wall Street (NASDAQ & NYSE), the London Stock Exchange and the Tokyo Stock Exchange. For ASX trading it charges $10 per trade of up to $1000 while its international pricing varies. eToro is one of the world's biggest online trading platforms and for Australians, it offers access to the NASDAQ and NYSE but not ASX-listed stocks. It also offers access to 16 other markets with $0 commission. One of its most popular features is its copy feature though. The social network features allow users to track and imitate the platform's top traders which can be useful for those that don't have the time to make their own decisions. The other big four trading platform is nabtrade owned by NAB. The platform offers $9.95 brokerage on trades up to $1000 on both local and international markets. nabtrade offers investors access to markets in the US, UK, Hong Kong and Germany. The platform also offers investors access to a high-interest account and margin lending as well. Selfwealth is an ASX listed online trading platform with a flat brokerage fee of $9.50 per trade. The platform offers investors access to the ASX, Wall St (NASDAQ and NYSE) and the Hong Kong stock market. Given its flat fee structure, it does appeal to those looking to invest larger amounts. The minimum investment for CHESS-sponsored ASX shares is $500 while for US the minimum is $100. Stake launched as a low-cost online broker back in 2017 bringing US shares to the Australian market. Initially offering free US trades, Stake now charges $3 per trade under $30,000 for both US and ASX trades. Despite the recent rise in costs Stake still does remain one of the cheapest brokers for traders in Australia. The platform gives traders access to more than 2000 CHESS-sponsored stocks and ETFs on the ASX. In its US product it has more than 6000 stocks and ETFs on Wall Street (NASDAQ and NYSE). The latest platform to launch in the low-cost space, Superhero offers access to 2500 AX listed companies for a $5 flat fee. It also has a minimum investment of $100, much lower than the standard amount of $500. While it charges for its ASX companies, investors get access to $0 brokerage on ETF and Wall St trades. The company does not offer CHESS-sponsored shares, instead, it uses the custodian model meaning shares bought on Superhero are beneficially held in your name. Get stories like this in our newsletters.How to find the right trading platform for you
CMC Markets
CommSec
eToro
nabtrade
Selfwealth
Stake
Superhero
FAQs
Which trading platform is the best in Australia? ›
- eToro - Best trading platform in Australia for commissions. ...
- Tiger Brokers - Best new online broker with a promotional offer. ...
- CMC Markets - Multi-asset trading platform with advanced features. ...
- CommSec - Best ASX online brokerage.
Tiger is rated one of Australia's best options trading platforms because it has incredibly low fees and great features, albeit only offering US options. Commission fees for US options start at just US$1.99 per contract – the lowest we've seen to date.
What is the most reliable online trading platform? ›Broker | Star Rating | Max Option Legs |
---|---|---|
Fidelity Investments | 4.8 | 4 |
Charles Schwab | 4.7 | 4 |
Interactive Brokers | 4.7 | 6 |
tastytrade | 4.5 | 4 |
- Understand how trading works.
- See examples of trades.
- Research the available markets.
- Know the risks of trading and how to manage them.
- Learn more about trading styles and strategies.
- Create a trading plan.
- Begin trading on a practice account.
- Get into trading by opening your live account.
- Amazon.
- eBay.
- Catch.
- Kogan.
- MyDeal.
- Bunnings Marketplace.
- The Iconic.
- The Market.
Asia continues to dominate Australia's two-way trade flows with 65.2 per cent of the market. China remains our major two-way trading partner.
How to trade in US market from Australia? ›Select a broker or trading platform: Choose a broker or platform that provides access to US markets. Register and verify: Open a trading account with your chosen broker, providing necessary ID for verification. Add funds to your account: Deposit funds, making sure to account for currency exchange from AUD to USD.
How to trade options in Australia? ›Options are traded through ASX-accredited brokers. You will need to sign a Client Agreement form before you start trading. If your current broker is not active in options, or accredited to advise on options, it is wise to seek out a specialist broker in this area.
What is the best trading platform? ›- 10 Best Trading Platforms in India.
- Paytm Money. ...
- Zerodha Trading Platform. ...
- Angel One Trading Platform. ...
- ICICI Direct Trading Platform. ...
- Groww Trading Platform. ...
- Motilal Oswal Trading Platform. ...
- Sharekhan Trading Platform.
Interactive Brokers (IBKR) is a well-regarded brokerage platform particularly suited for day traders.
What site do most day traders use? ›
The type of trading platform most folks use depends on the type of trader they are. While Interactive Brokers might be one of the best options for day traders, other types of traders may like the variety of Charles Schwab or the versatility of Fidelity.
Which site is the best trading site? ›- Charles Schwab.
- Fidelity Investments.
- Interactive Brokers.
- Ally Invest.
- E-Trade.
- Merrill Edge.
- TradeStation.
- Tastytrade.
- eToro - 0% commission stock trading.
- Tiger Brokers - New online brokerage.
- IG Share Trading - Global stocks and ETFs.
- CMC Invest - All-round Australian broker.
- Superhero - No monthly account fees.
- CommSec - ASX trading platform.
- We Bull - Platform for day trading.
Primary products still represent the majority of Australia's top exports, with beef and wheat the largest agricultural sources of export earnings, and oil and gas, gold and other metals representing the other top goods exports.
What is the best way to day trade in Australia? ›- Have the right setup. Since you'll be spending a lot of time actively trading, you want to make sure you have the right tools. ...
- Find a strategy. ...
- Start small. ...
- Start with sufficient capital. ...
- Be sensible. ...
- Set a schedule. ...
- Choose a day trading strategy. ...
- Day trading crypto.
eToro may well be the closest app to Robinhood that we have available. Like Robinhood, it's a low-cost platform angled at the next generation of traders. The great thing about eToro is it does not charge commissions on US stocks and it allows you to trade a mix of stocks, commodities and currencies using leverage.
How to trade US stocks from Australia? ›Select a broker or trading platform: Choose a broker or platform that provides access to US markets. Register and verify: Open a trading account with your chosen broker, providing necessary ID for verification. Add funds to your account: Deposit funds, making sure to account for currency exchange from AUD to USD.
What is Australia's top 5 trading partners? ›Rank | Trading partners(a)(b) | Total |
---|---|---|
1 | China | 235.0 |
2 | Japan | 88.5 |
3 | United States | 76.4 |
4 | Republic of Korea | 41.4 |
CommSec - Online Share Trading & Investing. Start trading today with Australia's leading online broker.