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- Pay US$2 trade fees on AU, US, Hong Kong and European stocks
- Access the NASDAQ and S&P500
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.
With dozens of share trading platforms in Australia, it's not easy to work out which one is best suited to you.
The best app for beginners is going to be very different to a platform that suits active or professional traders. Meanwhile, somebody that wants to invest in Australian shares and ETFs may have no interest in currencies trading or international markets.
The fees can also change depending on how often you trade in a month, a quarter or a year. In fact, recent Finder research found that the average share trader could save approximately $1,048 in brokerage fees a year by switching to a more suitable broker (calculated on 7 trades per month of $1,000).
It may even save money to have more than one platform. For example, you could have an app to trade US stocks, an app for ASX shares and another for currency markets.
There are many different kinds of share traders. Once you know which category 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.
This will influence the features you're looking for in an online broker. From the ease of use of the system through to the market research information available, it's important that the platform complements your trading needs.
Ask yourself the following questions to determine your trading style:
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. You'd want to look for platforms that offer low brokerage for high-frequency trading and an extensive range of trading features, such as charting tools and order options.
Am I a trader or an investor? Traders try to make money from share price movements by buying and selling stocks frequently – often several times in a day or week.
Investors use the "buy and hold" strategy by targeting quality companies they think will rise over a long time frame and possibly offer dividends. They may only buy and sell a few times in a year. Investors may find the inactivity fee more important than a stock analysis feature.
For traders, a low brokerage fee and advanced features are key. They might find the stock analysis feature more important than an inactivity fee.
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 and check the fees.
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. Depending on what your priorities are, you may wish to get a broker that offers all of the above or several different brokers – one 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.
There are plenty of things you'll need to consider when looking at different 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:
There are 3 main fees that commonly apply when you use online share trading platforms – brokerage fees, monthly fees and foreign exchange fees if you trade global shares.
Brokerage fees vary greatly between providers but typically start at around the $10 to $20 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 will often charge a monthly fee that could be as high as around $80 per month. A number of brokers will 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 offer different features and therefore attract varying fees.
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I have lost the SRN to a share I hold. Who do I ask to recover it? – Computershare or the Company.
And who can I phone at the relevant party to assist?
Hi Jim,
Thanks for your question.
Your SRN should be viewable on your most recent holding statement or share certificate. This should have been sent to you by Computershare, but you should also be able to access it by logging into your Computershare account.
If you can’t access your holding statement, you’ll need to contact Computershare to request another one, which you can do by phoning them on 1300 555 159, or via the Computershare online enquiry page (https://www-au.computershare.com/Investor/#Contact/Enquiry).
I hope this helps,
Regards,
Tom
Is Apex Investments Ltd a real Australian company and fully regulated by ASIC?
Hi Jane,
You can search the ASIC register here.
There are many scams to be aware of these days, so if you are noticing in red flags or being pressured into making a decision about investing your money, it’s a good idea to pause your plans while you do more research.
Best of luck!
I would like to know if Trader AI is legit? I read an article on them, then signed up but received a phone call from very pushy salesperson that raised many red flags for me. I ended the call and decided not to pursue it. The other thing that raised a red flag was that the article said it was an app-based product, but when I searched, I couldn’t find the app – I’m on android – so my initial registration was done online, but not via an app. I found this odd.
Hi Nadine,
We’re not aware of this platform and can’t provide personal advice, but it is a good idea to follow your instincts if you notice any red flags. A reputable trading platform should not use pressure tactics to get your business. It’s also a good idea to research the company online and your due diligence again showed red flag. Well done for following your instincts! And best of luck on your trading journey.
Hi, can I buy US EFT from Australia without a CFD in Etoro?
Hi Vignesh,
Yes, you can directly buy and sell US stocks listed on the NYSE and Nasdaq through eToro.
I hope this helps,
Elizabeth
I would like to trade Aussie shares.. I am a permanent resident of Australia/USA Citizen. What on line Aussie platform supports me ?
Hi Harry,
As a resident you should be eligible for most online trading platforms. You usually need a bank account, tax file number and a form of ID (such as a licence) to sign up and start trading.
You can use the page above to compare your options.
I hope this helps,
Elizabeth