Best Share Trading Platforms in Australia 2024

Thadeus Geodfrey

Thadeus Geodfrey is an experienced and celebrated writer and self-taught trader specialising in cryptocurrencies and forex. Market analysis, identifying fraudulent brokers, and security are his cup of tea. At BrokerRaters Thadeus develops educational materials and user-guides, offer market insights, ensures our content conforms to the best standards. Join Thadeus to succeed in your trading endeavours.

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Article was updated: December 12, 2024

Estimated reading time: 14 minutes

Cherry-picking the best share trading platform in Australia can be daunting amidst a forest of brokers screaming for your attention. It’s easy to fall for a non-regulated broker or one that doesn’t fit your trading style, experience level, and financial goals. In fact, some Australians lost over $8 million to online trading scams in 2023. 

But don’t worry – we have assembled top platforms to help you trade like a pro. This article also dives into share trading, how it works, and common pitfalls to avoid. Furthermore, you’ll weigh some of its pros against cons to decide whether it’s the right investment vehicle for your money.

List of the Best Share Trading Platforms

• Pepperstone – Best Overall Share Trading Platform in Australia
• Plus500* – Best CFD Share Trading Platform in Australia
• eToro – Best Share Trading Platform for Investment Enthusiasts
• FP Markets – Best Share Trading Platform for Advanced Traders
• AvaTrade – Best Share Trading Platform for Beginners

Australian Share Trading Platforms: Comparison Table

Just conduct an online search for the “best share trading platforms in Australia.” You will see many providers that promise gold. But how sure are you that they would stick to their words instead of delivering dust? 

And since time is money, it’s tempting to hurriedly skip the necessary research homework and pick one of them. Don’t worry – our seasoned pros have done the job for you! We thoroughly vetted all the platforms in the country before narrowing down to the best five. We further analyzed the chosen providers to determine the winner. 

Let’s start with a brief comparison table:

Platforms Short Overview

Pay attention to a broker’s fees, even if they look negligible. Why would you trade on a platform that wastes much of your hard-earned money? Also, ensure you get access to a familiar trading asset. 

We have stitched together tables showing the fees and assets on the selected platforms. We strive to provide the latest figures so you can stay on top of your game. 

Fees

Assets

Our Expert Opinion about Share Trading Platforms in Australia

Australia is home to diverse share trading platforms. Comparing them to find the right fit for your needs can be time consuming. But you can skip that step, thanks to our expert research.

We tested every platform in Australia based on crucial factors, such as regulatory status, security, fees, payment methods, demo accounts availability, and assets. We also looked into reviews left on Google Play, App Store, and Trustpilot to ensure you get unbiased information.

The following platforms emerged to be the best one in Australia from our professional study.

1. Pepperstone – Overall Best Share Trading Platform in Australia

Our expert analysis crowned Pepperstone the best share trading platform in Australia, thanks to its robust blend of trading tools, affordable fees, and extensive market access. Since its inception in 2010, the platform has spread its wings to claim its space in the trading world, carving out a name for its competitive spreads and wide range of financial instruments. In fact, you can trade CFDs on over 1200 instruments, including shares, commodities, forex, and indices. 

Versatility is a crucial factor to consider in the world of share trading. Pepperstone delighted us by allowing integration with MetaTrader 4, MetaTrader 5, cTrader, and other trading platforms alongside its proprietary app. All these environments have sleek designs, allowing you to enjoy ease of use and diverse functionalities.  

The platform also has various accounts: Razor, Standard, and Active Trader. The Razor account’s pricing is commission-based, while the Standard account is commission-free. You need at least 100 lots over a 3-month period to be accepted into the Active Trader account. 

You can trust Pepperstone’s safe trading experience. It has a robust regulatory framework under ASIC and other reputable licensing bodies in the industry. Plus, its 24/5 customer support helped us solve a deposit issue. 

Pepperstone

✔24/7 support service
✔User-friendly and navigable platform

Visit site Read review

2,863 User Reviews

4,510 User Reviews

1 User Reviews

Our Rating

Total Rating:

7,374 User Reviews

2. Plus500 – Best CFD Share Trading Platform in Australia

Contracts for Difference (CFDs) traders will fall in love with Plus500. This rich platform gives you access to more than 2,800 financial instruments, including indices, cryptocurrencies, shares, forex, and commodities. 

When testing Plus500, its low-cost trading environment is an advantage that stood out. You won’t pay commissions on trades, and the platform’s tight spreads start from 0 pips. Furthermore, it has flexible leverage options to allow you to boost your exposure with a tight budget. So, limited capital isn’t an excuse to enter the world of share trading. 

Plus500 also has a clutter-free interface, which allows you to kick-start your trading journey immediately. The platform has logically arranged menu items and categorized assets, making it user-friendly even for the newest traders. 

So, if you’re tired of platforms with unnecessary complexities, welcome here. The no-frills simplicity allows you to hop from a desktop onto your mobile without interrupting your trading. 

While Plus500 learning resources are limited, the available ones will boost your game. You can watch video tutorials or use its “Economic Calendar” to grasp significant concepts and catch the latest market events. And like other platforms on our list, Plus500 provides a demo account for beginners. 

Customer support is another area where the platform scores big points. Its round-the-clock live chat and WhatsApp channels ensure you get real-time answers to your issues wherever you are. You can also visit their comprehensive FAQ section on their website or email them your concerns.

Plus500

✔Easy-to-use trading platform
✔No hidden charges

Visit site

82% of retail investor accounts lose money when trading CFDs with this provider.

Read review

14,180 User Reviews

102,000 User Reviews

1,800 User Reviews

Our Rating

Total Rating:

117,980 User Reviews

3. eToro – Best Share Trading Platform for Investment Enthusiasts

Are you an investment enthusiast who’s been hunting for a platform with community vibes? eToro is your best stop. 

Social trading is where this platform shines the most. You can copy successful investors to sharpen your trading strategies and become the next big guru in Australia. 

And regardless your trading prowess, eToro’s education section will cater for your learning needs. Newbies can glean insights from its rich video tutorials, stepwise trading courses, and webinars. You can also visit its blog for updated insights, market analyses, and trading tactics. Do you want to exercise your trading muscles without burning any coins? The platform’s virtual portfolio welcomes you. Once you’re ready to dip your feet in the world of trading shares, you’ll likely find whatever asset you desire on it. In fact, our expert research found that it offers more than 6,000 trading instruments, including real stocks, ETFs, CFDs, and cryptocurrencies. 

We also found the platform’s fee structure transparent and friendly to cost-conscious traders. It charges primarily through spreads, and stock trades are commission-free. But you must note its charges on non-trading actions, such as withdrawal and inactivity fees. For example, you’ll have to cough up some dollars if you don’t log into the system within one year.

Thanks to its wide range of channels, eToro’s support team is a few clicks away. The dedicated help center provides answers to FAQs. But if your query is more specific, they have a ticketing system that allows you to reach the customer support agents. 

Another excellent feature we loved is eToro’s intuitive, community-focused, and aesthetically pleasing interface. Once you log in, you can seamlessly navigate to an asset, visit your portfolio, start copying gurus, and do more. The mobile app has all the features you need to trade on the go. 

With its strong emphasis on social interaction and user-friendly tools, eToro is truly one of the best investment platforms available today.

eToro

✔ User-friendly trading platform
✔ Over 6000 trading instruments

Visit site

{etoroCFDrisk}% of retail investor accounts lose money when trading CFDs with this provider.

Read review

5 User Reviews

143,000 User Reviews

31 User Reviews

Our Rating

Total Rating:

143,036 User Reviews

4. FP Markets – Best Share Trading Platform for Advanced Traders

If you’re a seasoned trader looking to diversify your portfolio with advanced tools, consider FP Markets. The platform has over 10,000 assets, including commodities, forex, stocks, and ETFs. 

It also supports traditional third-party platforms like MT4, MT5, and IRESS. For high-frequency traders, FP Markets provides a raw account with spreads starting from 0 pips. 

The platform offered a plethora of features during our trading journey. For instance, we could receive real-time push notifications regarding changes in the market, price, and account. The Trend Exploration Tools allowed us to monitor market trends, possible reversals, and primary resistance levels. 

FP Markets platform knows that learning is a continuous process. Their Learning Centre covers everything from basic analysis to risk management and technical strategies to equip traders of all levels. You can also dive into their video content or webinars for a more interactive learning experience. Other features include Instrument-Specific Insights and Comparative Analysis, just to mention a few. 

Whatever your choice of device, FP Markets will cater to your needs. Its desktop version supports both Mac and Windows operating systems. You can also hop into its web-based version from any browser without installation. Want to trade from anywhere? Fish out your hand-held Android or iOS gadget to keep the trading going. 

The platform also provides live customer support from 9am-6pm. EST. But if an issue crops up beyond this time frame, you can always reach support via email or phone. They also have an ever-updated FAQ section on their website to quench your thirst for details. 

FP Markets

✔Low minimum deposit requirement
✔Hosts numerous learning and market analysis tools

Visit site Read review

7,239 User Reviews

0 User Reviews

2 User Reviews

Our Rating

Total Rating:

7,241 User Reviews

5. AvaTrade – Best Share Trading Platform for Beginners

We highly recommend AvaTrade for beginner traders in Australia. Its beginner-friendly AvaAcademy offers self-paced learning regarding trading strategies, technical analysis, and the best forex trading app. 

The platform’s demo account comes with $10,000 to help you hone your skills before trading with real money. Furthermore, features like AvaProtect will safeguard your money against losses while trading. It’s also compatible with popular trading platforms like MT4 and MT5.

You’ll be ushered into a Retail Account when you first sign up. This level gives access to various assets, such as forex pairs, commodities, and precious metals. You can later advance to Professional Accounts for voluminous instruments and higher leverage. And if you’re a Muslim who desires to follow Sharia law, why not try its swap-free Islamic Account? 

While AvaTrade charges spreads on any instrument you trade, it provides commission-free trading. That means you can enter or exit trades on any asset without breaking the bank. However, a swap fee applies if your trade position remains open after closing, i.e., at midnight. It also charges inactive accounts after 12 months. 

AvaTrade

✔Regulated by FCA
✔The platform supports algorithmic trading

Visit site Read review

45 User Reviews

10,300 User Reviews

25 User Reviews

Our Rating

Total Rating:

10,370 User Reviews

Share Trading in Australia

Australia’s stable economy and well-regulated financial markets continue to boost share trading. Various online platforms allow traders to access diverse company stocks listed on the Australian Securities Exchange (ASX). You can also purchase shares from international exchanges to diversify your portfolio, such as the New York Stock Exchange (NYSE), the London Stock Exchange (LSE), and NASDAQ.

ASIC oversees share trading in Australia to maintain market integrity. We assure you that all our carefully selected platforms are ASIC-regulated and operate under the body’s stringent regulations.

Regarding legality, the country allows residents and non-residents to trade shares. But you must be at least 18 years old to invest in shares. Does your minor desire to trade shares? They can only do so through a custodial account that you (the parent or guardian) manage.

The Australian Taxation Office (ATO) views profits from share trading as capital gains. So, you need to pay capital gains tax (CGT) on the returns based on your total taxable income and how long you held the shares before selling. Some good news: If you held these assets for at least 12 months, you’re eligible for a 50% discount on CGT.  

But before starting this wealth-creation journey, you must grasp share trading ins and outs:

What is Share Trading?

Share or stock trading involves buying and selling companies’ shares on the stock market. Purchasing a publicly traded company’s shares essentially gives you a small ownership stake. Your share’s value can rise or drop depending on various factors, including the company’s performance or market trends. 

Share trading occurs through stock exchanges like the Australian Securities Exchange (ASX). This organization houses a diverse range of companies, from emerging SMEs to giants like Commonwealth Bank. 

You can trade shares to diversify your portfolio, generate an income through dividends, or for capital appreciation. But as you hunt for substantial returns and profits, remember that this investment comes with risks. That’s why our experienced experts are here to hold your hand. 

How Does Share Trading Work?

You’re just a few steps away from trading shares on your chosen platform. But remember to trade carefully! Here we go:

1. Set up a trading account: Opening an account with an online broker is a breeze. Once you submit your personal and identification details, you’re good to go.
2. Fund your account: The second step is to deposit the funds into your account. Check the lowest amount on your chosen platform, as it often varies with platforms. 
3. Research and cherry-pick shares: This is a crucial step. Analyze a company’s financial position and market trends before buying its shares. 
4. Place a trade: Have you identified promising shares? Awesome. You can buy them at the existing price or set a limit order to purchase them when they hit a specific price. 
5. Track your investment: Due to the ever-changing nature of share prices, share trading isn’t a set-once-and-forget homework assignment. A great platform should have real-time data, charts, and news updates to help you stay abreast of any changes and act accordingly. 

You can also sell your shares to a willing buyer at any time. Your selling price should be higher than the buying price to enable you to make a profit. 

How to Choose the Best Share Trading Platform

Your success story starts with the right share trading platform. Consider these players to inform your investment decision:

Share Trading Risks

Sure, you can get high returns from your share trading. But consider significant risks. The last thing you want is to see your investment and profits hijacked by an overlooked event. Here are some of them:

1. Market volatility

Share prices are highly volatile – they can be low now and high within the next few minutes. You can suffer a massive loss if the market shifts against your position.

2. Company performance

Your shares’ value depends heavily on the underlying company’s performance—poor performance results in a drop in shares, which can lead to losses.

3. Economic factors

The company and traders don’t exist in isolation. Uncontrollable external factors like inflation, interest rates, unemployment, and global events can threaten the Australian economy, resulting in a widespread plummeting of share values. 

4. Liquidity risk

A company’s shares may be less liquid, especially if it’s still tiny. If you own such a share, selling it at your desired price can be difficult. 

5. Leverage

Does a platform offer leverage? You can grab it to trade with borrowed funds and potentially increase returns. However, leverage can lead to more significant losses than if you traded with your initial investment. 

Pros & Cons of Share Trading

You need to weigh the pros and cons of share trading before venturing into it. We have highlighted the most common ones:

Pros:

• High returns potential: If the underlying company and the economy look promising, you can bag significant profits.
• Diversification: You can invest in diverse industries, companies, and regions to reduce risks
• Ownership and dividends: It may provide a regular income as company dividends. Plus, you can exercise voting and other ownership rights in the company.
• Accessibility: The platform is accessible from any internet-enabled device. With the often low minimum deposits and user-friendly interface, there are no barriers to entry.

Cons:

• Risky: Share trading can gulp up your money in case of a sharp decline in share value.
• Time-consuming: You must research market trends and company events to ensure you’re on the right track. 
• Costs: Maintenance, brokerage, and other fees can quickly add up and reduce your returns.
• Emotional stress: Downturns can cause stress. To stick to a trading strategy, it helps to have a strong mindset and resilience. 

Conclusion

Your share trading success story starts with the platform you choose. According to our professional research, Pepperstone stood out as the overall best share trading platform in Australia. You can also try Plus500, eToro, FP Markets, and AvaTrade for their distinctive advantages. 

But before picking a broker platform and running with it, consider their fees, tools, support, and other factors to ensure they align with your needs and goals. Now, it’s time to start trading with confidence!

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Thadeus Geodfrey

Thadeus Geodfrey is an experienced and celebrated writer and self-taught trader specialising in cryptocurrencies and forex. Market analysis, identifying fraudulent brokers, and security are his cup of tea. At BrokerRaters Thadeus develops educational materials and user-guides, offer market insights, ensures our content conforms to the best standards. Join Thadeus to succeed in your trading endeavours.

Contact us More about Thadeus Geodfrey