The best trading platforms in Australia for beginners

Before you start

Are you new to investing and looking for a share trading platform?

You're not alone. More than 1 in 3 Australians (38%) have bought shares, according to Finder data, and 14% of young people are looking to start investing for the first time this year.¹

But how do you pick a trading platform when you're just starting out?

While there's no single trading platform that will fit all your needs or individual circumstances as a beginner investor, we hope our information and tools will allow you to compare options and help you find the best trading account for you.

To find out more about how we selected our 'best trading platforms', head to our methodology guide. Keep in mind that we don't compare every product on the market.

How we selected the best trading apps for beginners

To help beginners out, we sourced a list of top brokers for beginners using Finder's proprietary algorithm. Here are some of the features we included in our methodology that we thought were important for beginner investors:

• What to look out for

  • Low brokerage fees for small investment amounts. You want to build your investment portfolio over time and there's no better way than to start small and add consistently. As such, if you're a newer investor you might want to find a fund has low fees and allows for smaller trading limits
  • Low brokerage on just 1 trade or less per month. Lowering the fees you pay is a great way to increase your returns. But be warned, some accounts will charge you more if you don't constantly trade. Beginner investors should avoid these accounts.
  • Low brokerage for ETFs. If you're looking to buy low cost ETFs some brokers will charge you less. This can be advantageous for long-term, low volume ETF investors.
  • No inactivity fee. Again, lowering your fees is important. An easy way to avoid paying unnecessary fees is to make sure your broker isn't charging you for inactivity.
  • Fractional investing. If you're starting out small, finding a broker that lets you buy fractional shares can help you gain access to the market without having to save for an entire share.
  • An online demo. It might sound simple enough, but learning the basics of how to invest is important. As such, an online demo can help beginners get ahead.
  • Educational or training content. If you want to improve your investing skills, education and training content is a great place to start. Some brokers will provide this information for you.
  • User-friendliness. Our editorial team gave platforms a rating based on how easy they were to navigate and place a trade.

We've focused on things like educational resources, low fees, ease-of-use and features like auto-investing and fractional shares. However, if you're planning on just buying and holding stocks or ETFs, you may find another it's more cost effective to use another trading platform.

Best share trading platforms for beginners

Sharesies: Best overall for Beginners (2024 Finder Awards)

3/5 ★★★★★

Finder score

Compare Read review

Capital at risk

Invest as low as 1 cent

Has an auto-invest function

Trade in AU, NZ and US markets

• Why it's great
• Pros and cons
• Fees

Kiwi brokers Sharesies aims to make investing as easy as possible with features like fractional shares, no minimum investments and auto-investing. Sharesies was named the Best for Beginners in the 2024 Finder Share Trading Platform Awards.

• Access to Australian and international shares and ETFs
• Easy to use
• No minimum investment

• Cheaper brokerage available elsewhere
• Limited global markets
• No CHESS-sponsorship

Brokerage fees
Sharesies offers 2 fee structures to choose from - ‘pay as you go’ and ‘monthly’ plans.

Pay as you go:
1.9% transaction fee on investments, capped.
Aussie Shares: $6 AUD per transaction
US Shares: US$5 per transaction
NZ shares: NS$25

Monthly Plans:
$5/month: Covers up to $500 orders with fees included.
$10/month: Covers up to $1,000 orders with fees included.
$20/month: Covers up to $3,000 orders with fees included.

Other markets: Details here
Inactivity fee: $0
Currency conversion fee: 0.60% of trade value

Tiger Brokers: Best for low brokerage

4/5 ★★★★★

Finder score

Go to site Read review

Capital at risk

Cheaply invest in US, HK and AU shares

Easy access to international trading

Low-cost options trading

• Why it's great
• Pros and cons
• Fees

Tiger Brokers offers low-cost trading on Australian, US and Hong Kong shares via an intuitive, customisable app. With free market data, high-interest account and generous sign-up bonuses, it's a good all-round beginner platform.

• Low brokerage on ASX and US stocks
• No minimum deposits
• Easy-to-use app

• Limited educational resources

Brokerage fees:
AU stocks: $2.99 per trade
US stocks: US$1.99
UK stocks: Not available
Other markets available: Details here

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ETF brokerage fees:
AU stocks: $2.99 per trade
US stocks: US$1.99
UK stocks: Not available
Other markets available: Details here

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Options:
ASX: Not available
US: US$0.95/contract (Min. US$3 per order)

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Inactivity fee: $0

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Currency conversion fee: 55 pips

Syfe: Best for auto-investing

N/A ★★★★★

Finder score

Compare Read review

Capital at risk

ASX and US stocks

Low minimum trades

Portfolio investing

• Why it's great
• Pros and cons
• Fees

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. It was named the best platform for Auto-investing in the 2024 Finder Share Trading Platform Awards. 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
• Invest from $1

• 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

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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

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Inactivity fee: $0

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Currency conversion fee: 60 bps of trade value

Interactive Brokers: Beginner-friendly platforms

5/5 ★★★★★

Finder score

Compare Read review

Capital at risk

Advanced trading features

Trade Australian and global shares

Trade OTC stocks from global markets

• Why it's great
• Pros and cons
• Fees

Interactive Brokers offers a range of beginner-friendly trading platforms across mobile, web and desktop. Along with some of the most competitive brokerage fees around, it's a worthy pick for beginners wanting to grow as investors because of its educational resources, research tools and huge range of markets.

• Low trading fees
• Fractional investing
• Strong educational resources

• 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)

Stake: Low-cost CHESS-sponsored shares

4/5 ★★★★★

Finder score

Compare Read review

Capital at risk

$3 brokerage fee per trade

No monthly fees for basic account

Buy and sell US stocks and ETFs

• Why it's great
• Pros and cons
• Fees

Stake boasts an intuitive, well-designed app along with low fees on ASX and US shares. With handy educational and research tools, it's a solid choice for beginners.

• Easy-to-use app
• CHESS-sponsored shares
• Competitive fees

• Limited markets available

Brokerage fees:
AU stocks: $3 (Up to and including $30,000); 0.01% (Over $30,000)
US stocks: US$3 (Up to and including $30,000); 0.01% (Over $30,000)
Other markets: Details here

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ETF brokerage fees:
AU ETFs: $3
US ETFs: US$3

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Inactivity fee: $0

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Currency conversion fee: 70 pips (US$0.70 for every AUD$100 exchanged)

Beginners need to know their investment style

There are many different kinds of share trading and beginner investors should try to work out what works best for them prior to signing up to a new broker. Investors can either be passive or active and they can choose to trade between exchange-traded funds or individual shares.

The category you fall into will greatly determine what type of broker you should sign up with. So before signing up ask yourself the following questions:

Am I an active trader or investor?

There's a distinct difference between trading and investing.

• Traders try to make money from stock movements, while investors try to buy quality businesses for the long-term. When it comes to beginners most should favour investing. This is because actively trading is incredibly complex and comes with more risk.

Regardless, you would need a broker that matches your style.

• For traders, a low brokerage fee and advanced features are key. They might find trading tools more important than an inactivity fee.
• While an investor might only buy once or twice a year meaning they need a broker without inactivity fees, but they might want features including broker recommendations.

How will I place trades?

Will you be placing all your trades online, via a mobile app or over the phone? It is important that your broker's services match your individual needs.

Where will I be buying shares?

Some investors choose to focus exclusively on the Australian market while others want broad exposure to the world. Before signing up to a broker it is important to know what you can buy with each. Most brokers will charge different fees depending on location, which can impact your decision.

How much money am I trading?

Brokers fees will largely vary depending on how much you are investing. This means you should find a broker that matches your needs. If you have a small balance you want a broker that lets you trade with less. If you have a large balance try to avoid a percentage based fee.

What type of investments are offered on trading platforms?

Beginner-friendly trading platforms generally offer the following types of investment options:

• Australian stocks
• US and global stocks
• ETFs

Please note that the specific investments available to trade, such as individual stocks, will vary between platforms and if you have a certain investment in mind it's worth checking which platforms list it when comparing.

Why is there so much focus on fees?

When you sign up to a share trading platform you'll be facing various types of fees. The more you pay in fees the less you'll end up pocketing from your investments.

They range from:

• Broker fees. This is the fee that is charged every time you buy and sell shares. Brokers charge different fees depending on the product you're trading, the size of the trade you make and how often you trade per month.
• Monthly fees. Some brokers are more aimed at active traders and will charge a subscription or inactivity fee for those who trade less. This may or may not suit you depending on your trading requirements.
• Foreign exchange fees. This one is for investors buying shares overseas. If you're interested in trading global stocks, you'll want to check what the foreign exchange (FX) fee is for converting your Australian dollars to the foreign currency of choice.

Frequently asked questions

• How much do you need to start trading shares?

  This varies greatly depending on the broker you choose. Some will let you start trading from as little as 1 cent, while others will need you to have a minimum of $500. If you are looking for CHESS sponsored shares (explained in our glossary here) you will need at least $500 before starting.

• What is the best trading platform for beginners in Australia?

  According to the 2024 Finder Share Trading Platform Awards, the best trading account for beginners is Sharesies, thanks to its low fees, low minimum investment and auto-invest feature. However, it largely depends on your individual style and needs. Generally speaking a low cost broker with an easy to use platform will work for most new investors.

• What platform should I start trading on?

  If you're just starting out, it can be a good idea to go with a share trading platform that offers a free demo account where you can trade with dummy money. This way you can get familiar with the platform and the stock investing process without having to risk real money. Once you're comfortable, you can then start investing with your own money.

• How do beginners trade stocks in Australia?

  In order to start trading stocks in Australia, you'll need to first sign up with a broker or online trading platform. Once you've created your account, you'll need to deposit funds and then can begin trading.

• What is the easiest trading app for beginners?

  Many trading platforms now offer beginner-friendly features like educational resources, fractional shares, micro-investing and auto-investing to help beginners get started investing. According to our latest data, Sharesies is the best trading app for beginners in Australia.

• Can I start trading with $100?

  You can, but it will again depend on the broker you choose. Syfe, Superhero, Douugh, Pearler and eToro are all examples of platforms where you can invest less than $100 per trade.

To make sure you get accurate and helpful information, this guide has been edited by Jason Loewenthal as part of our fact-checking process.

Written by

Cameron Micallef

Writer

Cameron Micallef was an investment and utilities writer for Finder. He previously worked on titles including Smart Property Investment, nestegg and Investor Daily, reporting across superannuation, property and investments. Cameron has a Bachelor of Communication and Media Studies/ Commerce from the University of Wollongong. Outside of work Cameron is passionate about all things sports and travel. See full bio

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