When it comes to investing in the stock market, choosing the right brokerage platform is essential. With an ever-increasing array of options now available for Australian share traders, identifying the standout performers across key categories assists your decision-making. Read on to discover what is the best trading platforms in Australia that suit your investing needs.
Summary of the Best Stock Trading Platforms Australia
We analyzed the best stock trading platforms in Australia, comparing fees, tools, usability and more. Below are the standouts:
- eToro – Best Overall
- Tiger Brokers – Excellent for International Share Access
- Superhero – Best Low Fees
- IG Markets – Best Tools & Research
- CommSec – Most Trusted
eToro – Best Overall
eToro takes our top spot overall for these features:
- $0 commissions trading 1,500+ US stocks & ETFs – Major cost savings
- Simple, beginner-friendly web and mobile app platforms
- CopyTrader system to mimic successful traders’ portfolios
- Virtual money trading account with $100,000 to practice
- Deposit/withdraw AUD via PayPal, credit card, bank transfer and more
eToro is regulated in Australia by ASIC, ensuring sound practices safeguarding investor funds. We like the transparent approach offering conveinent payment options and innovative social trading capabilities alongside $0 US stock brokerage.
Potential drawbacks:
- Non-US share brokerage costs apply
- Some fees on deposits/withdrawals
For straightforward access to trade over 1,500 American stocks free of commissions, eToro delivers significant benefits to Australian traders and investors.
Tiger Brokers – Excellent for International Share Access
Tiger Brokers provides wide scope for trading international markets:
- Access global shares from Australia, US, UK and more
- Trade ASX, NYSE, NASDAQ, HKEX, SGX and other major exchanges
- App and desktop platforms with technical/fundamental analysis tools
- Low fees from $0 per trade across multiple asset classes
- Award-winning trading experience from Next Generation Finance Awards
Tiger Brokers unlocks access to trade stocks in over 13 global exchanges with competitive pricing. But watch for:
- Still establishing Australian reputation
- Complex array of pricing tiers
For cost-efficient trading in Australia plus international shares spanning global exchanges, Tiger Brokers delivers flexibility and opportunity.
Superhero – Top for Low Fees
Investors focused on minimizing brokerage expenses should consider Superhero:
- $0 brokerage on Australian, US shares & ETFs
- Cryptocurrency trading (BTC, ETH, etc.)
- Qualifies for Qantas Points on eligible transactions
- Access to IPO & ECF (equity crowdfunding) stock opportunities
- User-friendly mobile app platform
As a newer online broker, Superhero has delivered impressively on costs while providing a slick app experience. Downsides:
- Short operating history
- Less extensive share research capabilities
For straightforward, low-fee trading across Australian and US markets while potentially earning airline points, Superhero is extremely competitive.
IG Markets – Best Analysis Tools
IG Markets shines brightest for active investors valuing research:
- All-in-one MetaTrader 5 (MT5) platform
- Advanced charting & screening tools
- 10,000+ global markets including forex, shares, indices
- Regular seminars, webinars and daily market analysis
- Established 1974, regulated in multiple jurisdictions
IG caters well to traders seeking tools for technical/fundamental analysis together with leverage capabilities. Potential negatives:
- Higher fees than discount brokers
- Limited educational material for new investors
For skilled traders driven by market analytics over absolute lowest costs, IG Markets delivers a formidable product suite.
CommSec – Most Trusted
Finally, ASX titan CommSec leverages its Commonwealth Bank lineage:
- Smoothest experience for Commonwealth Bank members
- Trusted broker with 25+ year track record
- Access shares, ETFs, options, international equities, more
- Research tools highlight upcoming dividends, profit reports
As Australia’s largest retail stockbroker, CommSec brings peace of mind alongside comprehensive trading capabilities. Considerations:
- Higher brokerage costs than discount rivals
- Less intuitive platform than some neo-brokers
For long-term investors who value reputation and seeks broad asset selection under one account, CommSec is a iconsiderable choice.
How to Buy Stocks in Australia
Ready to purchase your first shares? Here is a step-by-step guide to buying stocks in Australia:
Step 1: Stock Analysis
Kick off by researching potential stocks to invest in. Scrutinize factors like financials, leadership team, products, recent headlines and more to gauge investment prospects.
Step 2: Open a Brokerage Account
Next choose an online broker that matches your preferences around fees, tools, supported markets and so on. Fund your account via BPAY, Poli Payments, wire transfer or debit card.
We recommend eToro as an easy-to-use platform with $0 commissions on US stocks and ETFs.
Step 3: Decide Position Size
Given your strategy and risk appetite, determine how many shares you want to buy. For beginners, investing $500-$1000 as a starting position is reasonable.
Step 4: Place Your Order
Use your brokerage interface to enter a buy order for your chosen stock. Specify key details like ticker symbol, number of shares, order type, investment amount and more.
Step 5: Review & Submit
Double-check order accuracy to prevent costly errors. Then submit your purchase order to finalize the transaction.
Step 6: Monitor Performance
Keep tabs on your investment via the broker platform. Set price alerts, review financial statements, follow related news events and adjust your strategy if needed.
Stock Trading Fees & Taxes in Australia
When weighing the overall cost of buying and selling shares in Australia, consider both trading commissions and capital gains tax implications:
- Commissions – Leading brokers like IG Markets and CommSec charge $10-$30 per trade. Discount platforms can be as low as $0-5 per transaction.
- Capital Gains Tax – For investments held longer than 12 months, capital gains on share sales over the tax-free threshold attract 10-15% tax depending on your income.
Assess brokerage against your expected trade frequency to gauge the overall fees you’ll incur. Factor in potential capital gains tax depending on your planned investment timeframe as well.
Conclusion
Finding the right online broker is critical when investing in the Australian share market. Seek out an intuitive platform matching your experience level. Compare fees across regular trading amounts. And consider ancillary tools that aid your decision-making.
Using our guide, weigh the strengths of leading Aussie stock brokers like eToro, Tiger Brokers, Superhero, IG Markets and CommSec. Select one catering to your priorities in terms of cost, available assets, analysis features, brand reputation and ease of use.
For trading platforms tailored to other major markets, see our guides to the:
- Best Stocks Trading Platforms in Italy
- Best Stock Trading Platforms in France
- Best CFD Trading Platforms in the UK
FAQs
What is the best trading platform for beginners?
For beginners, we recommend checking out eToro. Its simple interface, virtual trading capabilities, and copy trading make it a great starting point for new investors.
Which platform has the lowest fees for share trading?
If you want rock-bottom fees, Superhero is tough to beat. You’ll pay $0 brokerage on Australian, US and crypto trades. Stake also offers commission-free trading for US stocks.
What platform is best for trading international stocks?
For trading global stocks across many worldwide exchanges, Tiger Brokers gives you excellent access and low fees. IG Markets also enables trading shares on 10,000+ global markets.
Is it safe to trade stocks online?
Using trusted, ASIC-regulated brokers like IG Markets, CommSec and eToro ensures safe, compliant trading platforms. Check registration status before opening an account.
