- Pay US$2 trade fees on AU, US, Hong Kong and European stocks
- Access the NASDAQ and S&P500
- Low brokerage fees + free pro trading data and tools
- Get 10 free shares. T&Cs apply.
- Trade Australian and global stocks
- Quality research and trading tools
- Trade US options for US$0.95 per contract
- Advanced charts and trading tools
Compare share trading platforms
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.
What's the best trading platform in Australia?
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.
What's your trading style?
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.
How to compare online brokers
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:
- The broker fees. Almost every online trading platform will charge you a brokerage fee (also called a commission fee) when you buy or sell shares, ranging from around $10 to $30 per trade. These fees may be calculated as a percentage of the transaction amount for larger trades and may also be lower depending on how frequently you trade.
- Monthly fees. Some providers charge ongoing subscription or inactivity fees where you're charged if you make too few trades. This will especially be the case where a platform offers an extensive range of features for advanced traders.
- What can you trade? Some trading platforms will not only give you access to Australian shares but also international shares. Others will also allow you to trade currencies, indices and much more, so look for this functionality if it's important to you.
- Ease of use. Share market trading can be complicated and often requires you to respond quickly to market changes. With this in mind, look for a platform that allows you to make fast and precise trades with minimum fuss.
- Access to market 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. Consider the options available when you're buying or selling shares. Can you place orders at market and/or at limit and are other order types such as stop/loss orders an option to add more flexibility to your trading?
- Reporting. Check what reporting tools each platform offers to help you track how your trades are performing, record dividends and pass on any relevant information to the 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 and what measures are in place to ensure the safety of your funds?
What fees will I pay to trade shares?
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.
- 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.
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Ask a question
Is trade 500 Intal a scam company ?
Hi Ana, I can find very little information about Trade 500 Intal other than what it provides on its website, which is already ringing alarm bells. Though it claims to be regulated globally I can find no details of this. To avoid scam investment platforms, make sure they’re regulated by ASIC and hold an AFS license. You can check these details on ASIC’s register: https://asic.gov.au/online-services/search-asic-s-registers/
Is Immediate Edge platform reliable..
If so can i choose a reliable trader to sign up to that deals with Immediate Edge..
Hi Yvonne M,
A quick search tells me that Immediate Edge is a relatively new-to-market crypto trading algo platform with a questionable background. Most alarmingly, I saw fake news articles showcasing PM Anthony Albanese in support of the platform. This tells me it’s sketchy at best and an outright scam at worst. More importantly, the platform is unregistered with our regulators and unlicensed, meaning you have very little protection. Steer clear.
I am a first time investor & I applied through the adds for “Gina Reinhardt” thinking it was an Australian investing thing. However, I got picked up by an overseas one dealing in US & Crypto currency, it is AESTOTAL do you know anything about them? I have been asked to pay taxes & surety to get the money released to my bank. Have you an opinion on this . situation.
Hi Aannii,
I’m sorry to say that it sounds like you have been scammed. Do not send any more money and report the situation to your bank and any other financial service providers you’ve used to transfer funds into their account. You should also report the incident to the police and the ACCC’s Scamwatch: https://www.scamwatch.gov.au/report-a-scam
Hi Aannii,
We are not licenced to provide personal finance advice.
However, it does sound very suspicious for a platform to require upfront payment of taxes and surety. According to this website, AES Total is an unregulated forex broker, which means the customer’s funds aren’t protected:
https://www.personal-reviews.com/2022/05/aes-total-review-aestotal-com-scam/
Make sure you do your research before engaging in doing business.
Hope this helps!
I am looking for a reputable Expert Advisor (EA) that I can use to place my trades as I am in the very beginner range of trading. Can you suggest a few to look at?
Hi Rocket, I’m afraid we can’t recommend an advisor as we don’t currently cover advisories and this is a very personal decision. However, it’s worth noting that it’s often possible to have an initial meeting with advisors before committing, giving you the chance to compare your options. Always ensure the advisor is registered with ASIC: https://asic.gov.au/for-finance-professionals/afs-licensees/financial-advisers-register/
Web Trader and Zenonline-trade are who i have been involved with are they safe?
Hi Martin,
Web Trader is a generic name used by many CFD brokers for their desktop trading platforms, so we would need more details.
As for Zenonline, according to their website, the platform is owned by a publicly listed company of which I can find no record. A quick check of their legal documents also shows numerous spelling errors and typos.
If those 2 things alone aren’t enough of a red flag, the platform appears to be entirely unregulated. To avoid scam platforms, make sure it holds an AFSL license and is regulated by ASIC. You can check ASIC’s registers here: https://asic.gov.au/online-services/search-asic-s-registers/