As an investor, it's important to find a trading platform that's right for you. A great trading platform doesn't just save on costs, it'll give you access to your favourite stocks and ETFs and offer features that match your investment approach.
But no two investors are the same. That's why we've curated a list of categories that covers beginners, day traders, long-term investors and options traders. We also know that some stock traders prefer one market over others, so we've included out top picks for US stocks, Aussie stocks and global stocks (multiple markets).
Finding the best share trading platform in Australia
Our investment experts have analysed more than 35 share trading platforms available in Australia to make it easier for you to select the right one. Our best trading platform picks use the same methodology as the 2023 Share Trading Platform Awards. We've only included platforms that are regulated by ASIC and are available to retail investors. Keep in mind that these picks are suggestions and that the platform that's best for you will depend on your individual needs. There may be other products on the market not included in our picks.
CMC Invest was rated the best trading platform in Australia (overall) for 2023 thanks to its impressive range of trading tools and low costs. The platform is intuitive enough for new investors but has the tools and product range to keep experienced traders satisfied. If you sign up to the pro account, you'll also get access to currencies, commodities and options. Check out CMC Invest if you want an excellent all-rounder.
Trade Australian and global stocks
Low trade fees on stocks and ETFs
Suitable for new investors and advanced traders
High-quality trading and research tools
Limited global markets. Only 4 global markets are commission-free to trade. Other global markets cost $59 per trade in brokerage while ASX stock trading starts at $11.
Brokerage fees: AU stocks: $0 brokerage (for buy orders up to $1,000) and $11 or 0.10% (whichever is greater) for all other buy and sell orders. US stocks: US$0 UK stocks: £0 ETF brokerage fees: AU ETFs: $0 brokerage for trades up to $1,000 (applied to the first buy order per ETF per day). $11 fee for trades up to $10,000. $15 fee for trades equal to or greater than $15,000. US ETFs: US$0 Options: ASX: $33/contract US: Not available Other markets available: Details here Inactivity fee: $0 Currency conversion fee: 0.60% of trade value
To determine our best overall winner for 2023, our investment experts and data team analysed the fees and features of 39 trading platforms. 117 features were included in the methodology and the "best overall" winner had a high average rating across the board. Features included in the weightings were:
Stock and ETF trading fees for both casual and active investors
Whether the platform has subscription or inactivity fees
The number of stock markets available
Its product range, including stocks, ETFs, managed funds, currencies and commodities
Trading features such as conditional orders and fractional stocks
What support options are available
Whether it's both desktop and mobile accessible
It's appropriateness for both new investors and experienced traders
For more information on how we determined our finalists, check out our full methodology.
IG is our top pick for low costs because it has among the lowest fees across the board for ASX, US and other global stocks. It also has consistently low brokerage fees whether you're investing a few hundred or several thousand dollars at a time, plus a competitive currency exchange fee of 0.70%.
Practice with $20K of virtual funds
Improve trading skills on IG Academy
Switch to real trading of ASX and global stocks
Trade on desktop or mobile
Not suitable for casual investors. The IG app is targeted more towards active traders than casual investors.
Brokerage fee per trade: AU stocks: $5 or 0.05% if you make 3 or more trades in the previous month. $8 or 0.1% of your trade (whichever is higher) US stocks: US$0 UK stocks: £0 Other markets available: Details here Inactivity fee: if you make fewer than 3 trades during that time. Currency conversion fee: 0.70% of trade value
To determine Australia's best low-cost broker, we compared the fees charged by 39 trading platforms. The platforms were then given a ranking for each of the fee categories and the broker with the highest average ranking was awarded the best low-cost broker title. Fees and features included in the methodology were:
Brokerage fees for US stocks and ETFs
Brokerage fees for Australian stocks and ETFs
Brokerage fees for UK stocks and ETFs
Average brokerage charged for 1, 10 or 30 trades per month
Average brokerage charged for trade value of $100, $1,000 and $10,000
Subscription fees
Inactivity fees
The currency conversion fee (to trade global stocks)
Customer review ratings from the Apple App and Google Play stores
For more information on how we determined our finalists, check out our full methodology.
Best trading platforms by investment approach
If you're new to investing, you likely want a trading platform that has lower costs for casual investing and an easy-to-use platform. Meanwhile, advanced or active traders will generally prioritise trading tools and a good product range. Whatever your approach or level of experience, the following categories should help to narrow down your options.
Syfe is one of the first trading platforms in Australia to offer a robo-advice feature with its diversified portfolios (smart baskets) tailored to your risk tolerance and time horizon. Plus, with a low minimum investment of just $1 and low fees there's no need to break the piggy bank to start. Syfe also gives you the option to directly purchase Australian and US stocks and ETFs as well as cryptocurrencies. With its simple-to-use platform, we think Syfe is a great choice for new investors.
Invest from just $1
Trade ASX and US stocks plus crypto
User-friendly platform
Ready-made portfolios available
Few advanced features
Only access to Australian and US stocks at this stage
Brokerage fees: AU stocks: $4.99 for trades up to $20,000 and 0.025% for trades over $20,000 US stocks: US$1.49 ETF brokerage fees: AU ETFs: $4.99 for trades up to $20,000 and 0.025% for trades over $20,000 US ETFs: US$1.49 Inactivity fee: $0 Currency conversion fee: 60 bps of trade value
Superhero is rated our the best share trading platform for long-term investing thanks to its low fees, $0 brokerage fee deal for ETF investing and its auto-invest option. We particularly like that you can auto-invest from just $10, making Superhero a great choice for investors that want to dollar-cost average into stocks or ETFs over the long term. And for investors planning for retirement, Superhero also has SMSF and superannuation account options.
$0 brokerage for US stocks, $5 for ASX
Auto-investment feature
$0 brokerage for ETF purchases
No account or inactivity fees
Few features. Superhero covers the basics but does not have some features advanced traders might find useful such as technical analysis tools.
Not fully global. Superhero only offers Australian and US stocks at this stage.
Brokerage fees: AU stocks: $5 US stocks: US$0 UK stocks: Not available ETF brokerage fees: AU ETFs: $0 brokerage on buy orders, $5 on sell orders US ETFs: US$0 Inactivity fee: $0 Currency conversion fee: 70 pips (US$0.70 for every AU$100 exchanged)
We’ve rated Webull as Australia’s best platform for day trading because of its low fees for stock and options trading and high-quality trading tools. Webull offers stocks from Australia, the US, China (A-Shares) and Hong Kong as well as US options plus margin trading for both stocks and options. Useful features include extended trading hours, technical analysis charts and probability analysis tools.
Access to stocks from Australia, US, China (A-Shares) and Hong Kong
US options trading at low fees
Demo account available
Quality technical analysis tools
High-quality research tools
Fewer markets available than some other platforms
No ASX options trading
Zero-commission trades are introductory only
Brokerage fee per trade: AU stocks: $0.0003 per trade value (min $4.90) US stocks: US$0.00025 per trade value UK stocks: £0 Other markets available: Details here Inactivity fee: Currency conversion fee: 0.50% (50 pips) of trade value
To determine the best trading platforms for beginners, long-term investors and active traders we compared the fees and features most useful for each category of trader. For instance, we up-weighted the costs of placing 30+ trades per month for active traders while beginner and long-term investors were weighted on trades of 1–10 trades per month.
We also gave each platform a rating of A, B or C based on how easy it was to place a simple trade. Features included in the weightings were:
Stock and ETF trading fees for casual and active traders
Subscription or inactivity fees
Its product range, including stocks, ETFs, managed funds, currencies and commodities
Trading features such as conditional orders and fractional stocks
Availability of educational resources or training options
Access to a demo account option
Its range of trading tools, including news, research tools and technical analysis charts
Available support options
Availability on both desktop and mobile
Minimum trade sizes
For more information on how we determined our finalists, check out our full methodology.
Best trading platforms by region
Do you prefer to trade Australian or US stocks? Perhaps you'd rather find a platform that offers stocks from right around the world? In the categories below we compared the fees and features of 40 trading platforms for investors that want to focus on Australian equities, US equities or a mix of global equities.
eToro gets the top spot for US equities thanks to its $0 brokerage fee offering for NYSE and Nasdaq stocks alongside high-quality trading features. It's well known for its social trading tools that allow users to imitate the trades made by other popular traders or invest in thematic portfolios. Alongside US stocks it also offers cryptocurrency and stocks listed in Australia, Europe, the UK and Hong Kong. Disclaimer: CFD service. Capital at risk.
$0 brokerage US stock trading
Packed full of features
Fractional share trading available
Conditional orders available
CFDs are risky. To access leverage, you're trading with CFDs, which are risky and complicated investment products.
Inactivity fee. If you don't open your account for 12 months, you'll be charged an inactivity fee of $10 per month.
Brokerage fee per trade: AU stocks: $0 US stock: US$0 UK stocks: £0 Inactivity fee: USD 10 per month if you don't log in for 12 months or more Currency conversion fee: 0.50% of trade value
CMC Invest is a top pick in this category thanks to its low brokerage fees for Australian CHESS-sponsored equities and its extensive ASX stock and ETF analysis tools. Aside from trading on the ASX, you can also access stocks listed on the lesser-known Cboe (previously known as Chi-X) and SSX exchanges. Plus, CMC is one of the first brokers to offer $0 brokerage on Australian stocks and ETFs (for trades of up to $1,000).
Rated best ASX trading platform
Trade CHESS-sponsored ASX shares
Comprehensive analysis tools for Australian equities
Access the Cboe and SSX exchanges
$0 brokerage is only for trades under $1,000
Brokerage fees: AU stocks: $0 brokerage (for buy orders up to $1,000) and $11 or 0.10% (whichever is greater) for all other buy and sell orders. US stocks: US$0 UK stocks: £0 ETF brokerage fees: AU ETFs: $0 brokerage for trades up to $1,000 (applied to the first buy order per ETF per day). $11 fee for trades up to $10,000. $15 fee for trades equal to or greater than $15,000. US ETFs: US$0 Options: ASX: $33/contract US: Not available Other markets available: Details here Inactivity fee: $0 Currency conversion fee: 0.60% of trade value
Interactive Brokers is ranked number 1 for international share trading thanks to its long list of global markets, cheap global brokerage fees and low currency conversion fees. It also offers a number of markets not typically available through Australian brokers, such as Chinese, Mexican, Israeli and over-the-counter (OTC) stocks.
Trade stocks from 33+ countries
Low brokerage fees for global share trading
Low currency conversion fee
Offers OTC and small-cap stocks
Relatively complex to use compared with other brokers
Complex fee structure
Brokerage fee per trade: AU stocks: $5 or 0.08% (whichever is greater) for trade values up to $3,000,000 US stocks: US$0.0035 cents per share capped at 1.0% of trade value UK stocks: £1.00 or 0.050% (whichever is greater) for trade values up to £40,000,000 Options: AU: $0.33/contract, min $1.10 US: US$0.25 - US$0.65/contract, min US$1.00 Inactivity fee: $0 Currency conversion fee: 0.20% (Flat US$2 for transactions below $10,000 or 0.2% for amounts above $10,000)
To determine the best trading platforms for global, Australian and US equities, we compared the fees and features relevant to each specific market. For instance, we up-weighted the costs of trading US stocks for the Best US Stock Broker award, while the Australian and global equities categories were up-weighted for ASX and global equity trade fees.
We also gave each platform a rating of A, B or C based on how easy it was to place a simple trade. Features included in the weightings were:
Stock and ETF trading fees for US, global and ASX trades
The number of available global stock markets
Foreign exchange fees
Subscription or inactivity fees
Trading features such as conditional orders and fractional stocks
Availability of educational resources or training options
Access to a demo account option
Its range of trading tools, including news, research tools and technical analysis charts
Available support options
Availability on both desktop and mobile
For more information on how we determined our finalists, check out our full methodology.
Best trading platforms for stock or ETF type
Not all stock trading platforms specialise in stocks alone. Some are better suited to options, commodities, ETFs or penny stock investors. Check out the categories below if you're looking for a platform with low fees and great features for investing in your preferred type of equity.
We've rated Australia's best options trading platform as Interactive Brokers thanks to its low costs for Australian and US options and its extensive list of tools, such as technical analysis charts and conditional orders.
Technical analysis tools
Feature-rich
Long list of conditional orders
Margin trading available
Offers stocks, commodities, indices and currencies
Relatively complex to use compared with other brokers
Fee structure is relatively complex
Research tools geared towards the US
Brokerage fee per trade: AU stocks: $5 or 0.08% (whichever is greater) for trade values up to $3,000,000 US stocks: US$0.0035 cents per share capped at 1.0% of trade value UK stocks: £1.00 or 0.050% (whichever is greater) for trade values up to £40,000,000 Options: AU: $0.33/contract, min $1.10 US: US$0.25 - US$0.65/contract, min US$1.00 Inactivity fee: $0 Currency conversion fee: 0.20% (Flat US$2 for transactions below $10,000 or 0.2% for amounts above $10,000)
CMC Invest is rated Australia's best ETF broker thanks to its extensive range of Australian and global ETFs, its low brokerage fees and because it has no inactivity fees. It also offers $0 brokerage of Australian equities trades (up to $1,000), making it a great choice for investors looking to regularly invest into Australian ETFs. And we're a fan of CMC's ETF filters and search tools, which make it super easy to find your ETF of choice.
Trade Australian and global stocks
Low trade fees on stocks and ETFs
Suitable for new investors and advanced traders
High-quality trading and research tools
Limited global markets. Only 4 global markets are commission-free to trade. Other global markets cost $59 per trade in brokerage while ASX stock trading starts at $11.
Brokerage fees: AU stocks: $0 brokerage (for buy orders up to $1,000) and $11 or 0.10% (whichever is greater) for all other buy and sell orders. US stocks: US$0 UK stocks: £0 ETF brokerage fees: AU ETFs: $0 brokerage for trades up to $1,000 (applied to the first buy order per ETF per day). $11 fee for trades up to $10,000. $15 fee for trades equal to or greater than $15,000. US ETFs: US$0 Options: ASX: $33/contract US: Not available Other markets available: Details here Inactivity fee: $0 Currency conversion fee: 0.60% of trade value
Arguably best known for its social trading features, it's no surprise eToro comes out on top for this category. eToro offers several social trading features, such as copy trading, which allows users to copy the trades and portfolios made by other top traders. And if you fit the bill as a top trader yourself, you can get rewarded if others on the app choose to follow you.
Copy trading features
Demo account with $100K of practice money
Social forums within the app
$0 brokerage on ASX, US and global stocks
$200 minimum investment required to copy trade
AUD must be converted to USD to trade with eToro
Limited equities available for some global markets
Brokerage fee per trade: AU stocks: $0 US stock: US$0 UK stocks: £0 Inactivity fee: USD 10 per month if you don't log in for 12 months or more Currency conversion fee: 0.50% of trade value
IG is our top pick for paper trading thanks to its high customer ratings, range of tradeable assets and its easy sign up process. Using IG's demo account, you can practice trading stocks and futures on commodities, indices, options and ETFs. Plus, if you want to switch to the real account, you'll find some of the lowest trading fees out there.
Practice with $20K of virtual funds
Improve trading skills on IG Academy
Switch to real trading of ASX and global stocks
Trade on desktop or mobile
Not suitable for casual investors. The IG app is targeted more towards active traders than casual investors.
Brokerage fee per trade: AU stocks: $5 or 0.05% if you make 3 or more trades in the previous month. $8 or 0.1% of your trade (whichever is higher) US stocks: US$0 UK stocks: £0 Other markets available: Details here Inactivity fee: if you make fewer than 3 trades during that time. Currency conversion fee: 0.70% of trade value
Compare share trading platforms to find the best deal
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
Important: The standard brokerage fee displayed is the trade cost for new customers to purchase $1,000 of either Australian or US shares. Where a platform charges different fees for both US and Australian shares we show the lower of the two. Where both CHESS sponsored and custodian shares are offered, we display the cheapest option.
About trading platforms in Australia
A few decades ago, Australians who wanted to invest in the stock market needed to go through a personal stock broker. This typically meant you would need to call your broker to place a trade and you would be charged high fees to do it.
These days, most Australian investors (70%) buy and sell shares through online share trading platforms (online brokers), according to research by the Australian Sercurities Exchange (ASX).
While you can still hire an adviser or full-service stock broker to place trades for you, the costs are typically much higher. For instance, you might pay $100 for a single trade through an adviser as opposed to $10 via an online trading platform.
What's the best share trading platform in Australia?
According to Finder's latest analysis of 40 online brokers, CMC Invest is the best overall share trading platform in Australia thanks to its long list of trading tools, availability of global stock markets and low fees.
But unfortunately choosing a broker isn't exactly a one-size-fits-all approach.
To find the best trading platform for you, try to find tools and features that align to your personal investing approach.
For example, if you're a new investor your needs might be tailored towards educational resources and lower brokerage fees. Meanwhile, if you've been trading for years, you might want a platform that has more advanced tools.
Regardless of your experience, one place to start can be comparing fees. Finder research found that the average share trader could save approximately $1,048 in brokerage fees each year by switching to a more suitable online broker (calculated on 7 trades per month of $1,000).
Watch: The best online share trading platforms for 2023
Tips for finding the best trading platform
There are plenty of things you'll need to consider when looking at different trading platforms. Of course, it all comes down to how you're intending to use it. Here are some of the key features to look at when comparing online share trading platforms:
Fees. Almost every platform will charge you a brokerage fee (also called a commission fee) when you transact. Some will also charge you additional fees such as monthly fees or inactivity fees. To see more about fees click here.
What can you trade? Some trading platforms will give you access to both Australian and international shares. Others will also allow you to trade currencies, indices, cryptocurrencies and much more. Find a broker that matches your needs.
Ease of use. You should look for a platform that allows you to make fast and precise trades with minimum fuss.
Access to data. Does the platform offer dynamic, real-time or delayed market updates? Some platforms offer research and broker analysis on individual stocks that can come in handy.
Order types. Can you place orders at market and/or at limit? Are other order types such as stop/loss orders an option to add more flexibility to your trading? These should be considered when choosing a broker.
Reporting. Check the reporting tools on each platform to help you track how your trades are performing, record dividends and pass on any relevant information to the Australian Taxation Office (ATO) at tax time.
Customer support. Look for phone, email and live online chat support. Does it offer customer service 24/7 if you're having trouble placing a trade?
Education. Some platforms also feature a range of educational tools and resources, such as how-to guides and webinars, to help you get more out of your trading account.
Security. How secure is the platform? What measures are in place to ensure the safety of your funds?
How often and in what market you intend to trade is key to your broker choice. You want the one that's going to deliver the best deal for your particular trading profile – and personality.
If you're looking to get into share trading, picking the right platform for your needs is essential. Everyone's needs are different, but features like demo accounts, real-time news feeds and educational resources can all help you gain an edge and minimise your exposure.
Facts and figures about trading platforms in Australia
There are over 35 ASIC-regulated share trading platforms available to Australians as of 2023, according to the latest analysis by Finder.
Of these, at least 10 launched in Australia after 2020.
95% of the trading platforms offer Australian stocks, 70% offer US stocks and 32% offer stocks from the UK (Finder).
Unlike in the US where many trading platforms charge $0 brokerage fees, the fees to buy and sell Australian stocks range anywhere from $0 to $40 per trade. The average brokerage fee to purchase $1,000 of stock from an ASX-listed company is $11 as of September 2023.
The average brokerage fee to purchase $1,000 of stock from a US company on an Australian trading platform is $10.70 as of 2023, although several brokers now offer $0 brokerage fees for US stocks.
Just over 2 decades ago (2001), 18% of trades in Australia occured via an online share trading platform (RBA). Today around 70% of investors use a trading platform to buy shares (ASX).
What type of investor are you?
The trading platform you choose should suit your investment style. Once you know which category of investor you fall into, you'll be able to more easily pick the best share trading app for you. For example, there are casual traders, active traders and long-term investors. Ask yourself the following questions:
How often will I trade? If you buy or sell shares once or twice a month (or even less), you're a casual investor. You may want to avoid brokers that have an inactivity fee or charge higher broker fees for less frequent trades. If you intend to buy and sell shares multiple times in a day, you're an active trader so advanced trading features may be the priority.
How will I place trades? Will you be placing all your trades online, via a mobile app or over the phone? Make sure the app offers your preferred choice. Check the fees as well.
What will I be trading? Do you want to trade Australian shares, US shares or other international markets? Some online brokers also offer other markets such as global currencies and cryptocurrencies. Depending on your priorities, you may wish to get a broker that offers all of the above or several different brokers – 1 for each market.
How much money am I trading? Do you intend to invest a lump sum of $5,000 into the stock market or would you prefer to make several small trades of a few hundred dollars? Brokerage fees sometimes differ depending on the amount you're buying and selling per month, per year or by trade.
What fees do share trading platforms charge?
There are 3 main fees that commonly apply when you use online share trading platforms:
Brokerage fees. Brokerage fees (also called commission fees) are the charges that apply to each buy and sell transaction of stocks and ETFs. They usually vary depending on the size of your buy or sell order or how often you trade.
Ongoing fees. These apply monthly or annually, but not all providers will charge ongoing fees. This may depend on how frequently you trade. For example, inactivity fees are often charged if you don't place any trades within a certain period of time.
Withdrawal fees. Some brokers charge a fee to withdraw money from your account.
Foreign exchange fees. If you want to buy US or other global shares, you'll need to pay an exchange fee when you deposit money into your account to convert your Australian dollars to the applicable currency.
Brokerage fees vary between providers but typically start at around the $5–$15 range. For large transactions, fees of around 0.1% and up usually apply. If you're planning on making lots of trades, you'll want to keep an eye out for a platform that offers low per-trade fees.
Some providers will not charge any monthly fees at all. However, more advanced trading platforms and those that offer premium services often charge a monthly fee that could be as high as around $80 per month. A number of brokers waive this fee if you perform more than a certain number of trades each month.
Finally, remember that many brokers offer different membership levels – for example, gold, silver and platinum – which have different features and attract varying fees.
What are the risks of using trading platforms?
Most types of investments come with some risk, but there are a few specific to online share trading that you should be aware of:
Cybersecurity: Online platforms are vulnerable to hacking and cyberattacks. This can lead to sensitive information being stolen and unauthorised trades being executed.
Market risk: Share prices can fluctuate rapidly and unpredictably, leading to potential losses for traders.
Platform failure: Technical glitches and system failures can cause temporary disruptions or errors in trade execution.
Liquidity risk: Some less-established companies may have low trading volume, making it difficult to quickly buy or sell shares at a fair price.
Regulatory risk: Trading platforms may be subject to government regulations, which can change without notice and impact the ability to trade certain securities.
Counterparty risk: When using a platform to trade with other individuals, there is a risk that the counterparty may not fulfill their obligations, leading to losses.
Misleading information: Inaccurate or misleading information can lead to poor investment decisions, leading to losses.
Why you can trust Finder's share trading experts
We're free
Our comparison tables are completely free to use. We link you directly to the brokers' secure application page. On a regular basis, we update the fees and conditions of all share trading platforms in our database.
We're experts
We've researched and rated 40+ trading platforms and brokers as part of our Finder Awards. We've published 100+ guides, and our in-house experts regularly appear on Sunrise, 7News, and SBS News.
We're independent
Unlike other comparison sites, we're not owned by a bank, insurer, or broker. That means our opinions are our own, and you can compare nearly every share trading platform and broker in Australia on Finder.
We're here to help
Since 2016, we've helped over 300,000 Australians find the right stockbroking account by comparing fees and account features. We'll never ask for your personal information. We're here to help you make a decision.
Frequently asked questions
If you're looking to invest in the ASX then eToro is the cheapest trading platform at the time of writing, charging $0 commission. CMC Invest also offers $0 commission ASX trades on investments of less than $1,000.
If you're looking to invest in the US, then Stake, eToro, IG, CMC Invest and Superhero all offer zero-dollar brokerage fees. Instead you'll pay currency conversion fees.
According to Finder's latest Share Trading Awards, IG is the best low-cost broker because it offers $0 commission US stock trading, has a low currency conversion fee, the lowest ETF brokerage fee and ASX commission fees that start from $5, according to our database.
Douugh is a set-and-forget-style platform. The platform has a number of features for newer investors including auto-invest, micro-investing and cheap brokerage fees which should all appeal to beginner investors.
To compare with other platforms, check out our beginner comparison guide.
CMC Invest is the best overall trading account in Australia, according to Finder's proprietary algorithm. With a combination of cheap brokerage, a range of options and markets, CMC ticks a lot of boxes when it comes to trading accounts.
That being said, the best trading account will vary depending on your individual needs.
CMC Invest is the best ASX trading platform, according to our latest analysis. With $0 brokerage on all ASX trades up to $1,000, live market data and strong research tools, CMC won our Best ASX Trading award.
eToro is the best share trading platform with direct access to cryptocurrency trading, according to our algorithm.
But if you're looking to buy crypto directly from an exchange, Binance and Swyftx are rated as 2 of the best exchanges.
Interactive Brokers is rated as the best online broker for penny stock trading thanks to its low fees for active trading, range of OTC stocks and technical analysis tools.
It won 2 of our awards being Best Overall and Best Australian Stock Broker.
When it comes to the cheapest CHESS-sponsored broker in our database, at the time of writing, that is Stake. Stake offers $3 brokerage for ASX CHESS-sponsored trades. CMC Invest also offers $0 brokerage on ASX CHESS-sponsored trades of less than $1,000.
What you'll pay in brokerage fees will differ greatly depending on who you sign up with.
As a general rule of thumb, finding a cheaper broker is usually better. However, you always match a broker to your individual needs.
When it comes to trading the ASX, brokers are in 2 categories: CHESS-sponsored and custodian model.
A CHESS-sponsored broker will cost more in fees, but the shares will be registered in your name.
Under a custodian model, you still get all the same benefits of share ownership, but they will be in the broker's name.
The fees for CHESS sponsors range from $3 through to $19.95 a trade.
Custodian models can be free, depending on who you are trading with.
When it comes to trading overseas it'll surprisingly cost you less. That is because none of these options have CHESS sponsorship.
There are a number of brokers that'll have commission-free trading in the US. Although, you will pay a currency transaction fee instead.
IB's trading Workstation features, long list of global stocks, CFDs and forex and its low brokerage cost make it ideal for more experienced traders. You can read more about why we rate IB as the best platform for day trading in our methodology page.
For most share trading platforms, signing up won't cost you a thing.
However, you will start paying fees once you begin trading. This is known as a brokerage fee.
Watch out for additional fees such as inactivity and subscription fees.
No trading platform is truly free, but there are some brokers in Australia that offer $0 brokerage trading. These include the following:
Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involve substantial risk of loss and therefore are not appropriate for all investors. Past performance is not an indication of future results. Consider your own circumstances and obtain your own advice before making any trades.
Important: The standard brokerage fee displayed is the trade cost for new customers to purchase $1,000 of either Australian or US shares. Where a platform charges different fees for both US and Australian shares we show the lower of the two. Where both CHESS sponsored and custodian shares are offered, we display the cheapest option.
Kylie Purcell is the senior investments editor and analyst at Finder. She has completed a Certificate of Securities and Managed Investments (RG146) and specialises in investment products including online brokers, robo-advisors, stocks and ETFs.
Just 5 years ago, few investors took cannabis stocks seriously; today, as billions of dollars pour into the sector, few doubt that it will be one of the next big disruptors.
Looking for alternative investments? With a ROI of up to 3,593% lego may be worth considering. Read on to find out which lego sets are worth the investment.
Whether you want an online broker or a full-service broker, this guide explains everything you need to know in order to find one to help you buy and sell shares.
Though we do not have information on the best tax reporting for these companies to the ATO, you may want to contact the ATO directly to check on the statistics for this. They should have available historical data on these companies available for you. Hope this helps!
I’d like to buy shares online myself, I’ll be a casual investing in semi longterm shares, looking for a $20 to $50 share minimum purchase. I’m hoping that’s possible, I’m mid 50’s an hoping to add a little extra for retirement, any advice would be muchly appreciated, cheers
Going into share trading is one of the good ways to grow your money. With share trading, please note that the minimum order when buying shares on the ASX is $500 and your online trading platform may require a higher limit. We have some guides on the following pages which could help you in your journey to share trading:
You may want to check our page that discusses cheap stock brokerage in Australia. By checking that comparison table on that page, you should learn which share trading platform has the lowest brokerage fee. Most of them provide daily and yearly data reports.
Should you have further questions, please don’t hesitate to reach us out again.
I have shares in the UK, but with an Australian address it is hard (impossible) to find a UK agent to help with their sale. What is the best Australian option for a single trade (sell)?
Unfortunately, we cannot recommend what is best for you. Our company finder.com.au is a financial comparison website and general information service designed to help consumers to make a better decisions. Please note we do not represent any company we feature on our pages.
Thankfully, you can always check the list of online share trading platforms on our website. This should give you a good place to start searching for the right platform.
Although we cover a wide range of products, providers and services, we don’t cover every product, provider or service available in the market so there may be other options available to you. However, you can find more information about the amscot Stockbroking through our website.
How likely would you be to recommend finder to a friend or colleague?
0
1
2
3
4
5
6
7
8
9
10
Very UnlikelyExtremely Likely
Required
Thank you for your feedback.
Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.
Important information about this website
finder.com.au is one of Australia's leading comparison websites. We are committed to our readers and stands by our editorial principles
We try to take an open and transparent approach and provide a broad-based comparison service. However, you should be aware that while we are an independently owned service, our comparison service does not include all providers or all products available in the market.
Some product issuers may provide products or offer services through multiple brands, associated companies or different labeling arrangements. This can make it difficult for consumers to compare alternatives or identify the companies behind the products. However, we aim to provide information to enable consumers to understand these issues.
We make money by featuring products on our site. Compensation received from the providers featured on our site can influence which products we write about as well as where and how products appear on our page, but the order or placement of these products does not influence our assessment or opinions of them, nor is it an endorsement or recommendation for them.
Products marked as 'Top Pick', 'Promoted' or 'Advertisement' are prominently displayed either as a result of a commercial advertising arrangement or to highlight a particular product, provider or feature. Finder may receive remuneration from the Provider if you click on the related link, purchase or enquire about the product. Finder's decision to show a 'promoted' product is neither a recommendation that the product is appropriate for you nor an indication that the product is the best in its category. We encourage you to use the tools and information we provide to compare your options.
Where our site links to particular products or displays 'Go to site' buttons, we may receive a commission, referral fee or payment when you click on those buttons or apply for a product. You can learn more about how we make money.
When products are grouped in a table or list, the order in which they are initially sorted may be influenced by a range of factors including price, fees and discounts; commercial partnerships; product features; and brand popularity. We provide tools so you can sort and filter these lists to highlight features that matter to you.
Please note that the information published on our site should not be construed as personal advice and does not consider your personal needs and circumstances. While our site will provide you with factual information and general advice to help you make better decisions, it isn't a substitute for professional advice. You should consider whether the products or services featured on our site are appropriate for your needs. If you're unsure about anything, seek professional advice before you apply for any product or commit to any plan and read any disclosure documents (such as any Target Market Determination (TMD) and/or Product Disclosure Statement (PDS)) issued by the provider before making a decision.
Providing or obtaining an estimated insurance quote through us does not guarantee you can get the insurance. Acceptance by insurance companies is based on things like occupation, health and lifestyle. By providing you with the ability to apply for a credit card or loan, we are not guaranteeing that your application will be approved. Your application for credit products is subject to the Provider's terms and conditions as well as their application and lending criteria.
Please read our website terms of use and privacy policy for more information about our services and our approach to privacy.
Which trading platform has the best tax reporting for the ato?
Hi Jack,
Thank you for reaching out to finder.
Though we do not have information on the best tax reporting for these companies to the ATO, you may want to contact the ATO directly to check on the statistics for this. They should have available historical data on these companies available for you. Hope this helps!
Cheers,
Reggie
I’d like to buy shares online myself, I’ll be a casual investing in semi longterm shares, looking for a $20 to $50 share minimum purchase. I’m hoping that’s possible, I’m mid 50’s an hoping to add a little extra for retirement, any advice would be muchly appreciated, cheers
Hi Karen,
Thanks for your inquiry.
Going into share trading is one of the good ways to grow your money. With share trading, please note that the minimum order when buying shares on the ASX is $500 and your online trading platform may require a higher limit. We have some guides on the following pages which could help you in your journey to share trading:
1. Beginner guide to share trading
2. Opening a share trading account
3. Compare online share trading accounts
Hope this helps.
Cheers,
May
I’m looking for a discount broker for trading Australian shares that provides data reports, particularly for end of f/y
Cheers, Allan
Hi Allan,
Thanks for your question.
You may want to check our page that discusses cheap stock brokerage in Australia. By checking that comparison table on that page, you should learn which share trading platform has the lowest brokerage fee. Most of them provide daily and yearly data reports.
Should you have further questions, please don’t hesitate to reach us out again.
Cheers,
Anndy
I have shares in the UK, but with an Australian address it is hard (impossible) to find a UK agent to help with their sale. What is the best Australian option for a single trade (sell)?
My suggestion is that you do an off market transfer with a third party who is willing to buy the shares from you and arrange private cash settlement.
Hi Rich,
Thank you for your inquiry.
Unfortunately, we cannot recommend what is best for you. Our company finder.com.au is a financial comparison website and general information service designed to help consumers to make a better decisions. Please note we do not represent any company we feature on our pages.
Thankfully, you can always check the list of online share trading platforms on our website. This should give you a good place to start searching for the right platform.
I hope this helps.
Cheers,
Harold
I noticed that amscot Stockbroking is not on the comparison list.
Hi Ben,
Thanks for your question.
Although we cover a wide range of products, providers and services, we don’t cover every product, provider or service available in the market so there may be other options available to you. However, you can find more information about the amscot Stockbroking through our website.
Cheers,
May