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Claire Maumo has experience in investment banking, strategic consultancy, and journalism. She has a Bachelor’s degree in Business Management and a Master’s in finance. She has a knack for making complex concepts easy to understand. Her primary focus is on crypto, blockchain, and financial instruments. Follow her for expert insights on trading and investment.
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Stocks are one of the most traded assets in Australia. It gives you exposure to global companies, which makes it easier to choose an option you are familiar with. With the existence of mobile devices, stock trading has skyrocketed even more. Australian traders can now explore the market using their smartphones or tablets. They no longer need to spend hours on a desktop, which can inconvenience them, especially if they have other activities to attend to.
If you are here, you probably are looking for the best stock trading app in Australia in 2024. Worry not, for we will walk you through the top options we have tested and approved. And if you are new to stock trading, we will help you understand more about stock trading and make the best choices/decisions.
List of the Best Stock Trading Apps
- Pepperstone – Top Trading App For CFD Trading in Australia
- AvaTrade – Overall Stocks Trading App in Australia
- eToro – Beginner-Friendly Stock Trading App in Australia
- FP Markets – Best Stock Trading App With Excellent Support Service
- Saxo – Top Stock Trading App For Professional Aussie Traders
In This Guide
Australian Stock Trading Apps: Comparison Table
As professionals, we believe in recommending stock trading platforms that are the best in the market. To do so, we must conduct thorough market research and analysis. We start by identifying hundreds of stock trading apps, prioritising their regulatory status. We then test them multiple times and compare their features to shortlist only those that meet our stringent requirements.
To remain unbiased and only list apps based on their features, we include user testimonial findings in this process. This means that we must also visit Google Play, the App Store, and Trustpilot to sample as many comments and ratings as possible. Through this procedure, we understand what a trading app has to offer from a user perspective.
Take a look at our comparison table below. We share the top features of our best stock trading apps in Australia to help you choose what best suits your trading needs.
| Best Stock Trading App Australia | License & Regulation | Support Service | Software | Payment Method | Demo Account |
|---|---|---|---|---|---|
| Pepperstone | ASIC, FSCA, FCA, DFSA, CySEC, CMA, SCB, BaFin | 24/7 | TradingView, MT4, MT5, cTrader, Pepperstone Trading Platform, Social trading | Visa, Mastercard, Bank transfer, Neteller, Skrill, PayPal | Yes |
| AvaTrade | FMA, FCA, FSCA, CBI, CySEC, PFSA, ASIC, B.V.I FSC, FSA, ADGM, ISA | 24/5 | WebTrader, AvaOptions, AvaTrade App, Mac Trading, MT4, MT5, Automated Trading | Credit/debit cards, Neteller, Skrill, Wire transfer, WebMoney | Yes |
| eToro | ASIC, MAS, FCA, CySEC, FSCA, SFSA ADGM, MFSA, FSAS, GFSC, SEC | 24/5 | eToro investing platform and app, Multi-asset platform, Social Trading, Copy Trader, Smart Portfolios | Credit/ debit cards, Bank transfer, Klarna, PayPal, Skrill, Neteller | Yes |
| FP Markets | ASIC, FCA, MAS, FSCA, CMA, CySEC, FSA | 24/7 | MT4, MT5, TradingView, cTrader, WebTrader, Mobile App, Copy Trading | Credit/debit cards, Neteller, Skrill, Bank transfer, Google Pay, Apple Pay | Yes |
| Saxo | FCA, SCA, DFSA | 24/5 | SaxoTraderGO, SaxoTraderPRO | Bank Wire Transfer, Debit cards | Yes |
Apps Short Overview
We always advise our readers to prioritise their needs when choosing the best stock trading apps in Australia. For instance, have a budget and stick to it to avoid risking more than you are comfortable losing. Then, select an app aligning with this budget.
Another essential element many traders in Australia prioritise is asset offerings. Whether you want an app with access to stock exchanges or one that offers derivatives trading, ensure it hosts the right securities.
Unfortunately, it is challenging to review these features among hundreds of trading apps out there. For this reason, we did the legwork and share the tables below with overviews of the fee structures and asset offerings of our best stock trading apps in Australia.
Fees
| Best Stock Trading App Australia | Minimum Deposit Requirement | Commission/ Spreads | Deposits/ Withdrawals | Inactivity Fee |
|---|---|---|---|---|
| Pepperstone | A$0 | From 0.0 pips | Free | A$0 |
| AvaTrade | A$100 | 0.13% | Free | A$50 quarterly |
| eToro | A$50 | From 0% | A$5 withdrawal fee | A$10 monthly |
| FP Markets | A$100 | From 0.0 pips | Free | A$0 |
| Saxo | A$0 | Commission from A$1 | Free | None |
Assets
| Best Stock Trading App Australia | Stocks | Forex | Crypto | Commodities | Indices | ETFs | Options |
|---|---|---|---|---|---|---|---|
| Pepperstone | Yes | Yes | Yes | Yes | Yes | Yes | No |
| AvaTrade | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| eToro | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| FP Markets | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Saxo | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
Our Expert Opinion about Stock Trading Apps in AU
Below, we share mini-reviews on our top stock trading apps in Australia. Note that all these apps have been tested and approved by our professionals, so rest assured that you will receive accurate information. You should compare them and choose an option that suits your skill level and needs.
1. Pepperstone – Top Trading App For CFD Trading in Australia
CFD trading has now been made easier with Pepperstone. During our period with this CFD trading app, we discovered numerous features that made it stand out. Besides having a user-friendly interface, the app has a fast trade execution speed, which allows users to manage short-term trades. Plus, we like the fact that it has no minimum deposit requirement, and all transactions are free.
When it comes to CFD stock trading instruments, Pepperstone hosts over 700 options. The best part is that these assets are available on multiple advanced platforms, including MT4, MT5, cTrader, and TradingView. These platforms are known and praised for their incredible features that, when utilised strategically, can maximise your success potential. The app also lists additional securities, including forex, commodities, cryptos, indices, and more, for portfolio diversification.
Pepperstone
✔24/7 support service
✔User-friendly and navigable platform
Pros & Cons
Fees
Trading Assets
Pros
- No minimum deposit requirement
- Hosts advanced third-party platforms with quality resources
- High leverage limit for professional traders up to 1:500
- Low CFD stock trading fees from 0.0 pips
Cons
- Limited asset offerings compared to its peers
- The learning materials availability can be improved
We find Pepperstone broker to be one of the brokers with transparent fee structures. There are no hidden charges, so what you see displayed on its platform is what you will incur. This makes it easier for you to budget without worrying about overspending.
Let’s discover below some of the trading and non-trading charges at Pepperstone.
| Trading and Non-Trading Charges | Details |
|---|---|
| Account Opening | $0 |
| Management Fee | $0 |
| Minimum Deposit Requirement | From $0, depending on your jurisdiction |
| Commission | From $0.02 on US-listed shares |
| Spreads | From 0.0 pips on its Razor Account |
| Deposits and Withdrawals | Free |
| Inactivity | None |
| Overnight Funding | Varies based on global market conditions |
| Copy Trading | Free |
Note that Pepperstone charges both spreads and commissions. While spreads are charged on all accounts, commissions are only imposed on the Razor Account.
2. AvaTrade – Overall Stocks Trading App in Australia
We find the AvaTradeGO app to be the best in Australia because of its impeccable features, which left us in awe. During our experience with it, we like that it has a user-friendly and intuitive design platform. Its fast trade execution speed made us seamlessly manage short-term positions. On top of that, we discovered that AvaTradeGO is highly rated by users on Google Play, the App Store, and Trustplit.
AvaTradeGO app hosts quality resources for beginners and expert stock traders in Australia. With plenty of learning materials and a demo account, beginners have nothing to complain about. Plus, we like that this app features social trading—an element that allows newbies to meet other traders and maximise their profitability through copy trading. We traded over 600 CFD shares at low fees.
AvaTrade
✔Regulated by FCA
✔The platform supports algorithmic trading
Pros & Cons
Fees
Trading Assets
Pros
- A$100 minimum deposit requirement for Aussie stock traders
- A user-friendly and mobile design web platform
- Hosts additional platforms with advanced resources, including MT4, MT5, AvaSocial, and AvaOptions
- Low stock trading fees
Cons
- The DupliTrade and ZuluTrade platforms have high minimum deposit requirements, thus inconveniencing low-budget traders
- Limited asset offerings compared to its peers
Our experts investigated the AvaTrade broker’s fees and charges. We first noticed that the platform has a modest minimum deposit requirement of $100. What’s more, its users pay no additional costs while depositing funds or cashing out. That makes AvaTrade an ideal broker for both cost-conscious and newbie traders who want to test their waters with small capital before going all in.
That said, AvaTrade requires dormant account holders to pay $50 after every 3 consecutive months of inactivity. Moreover, if you let your account remain inactive for over successive months of inactivity, the broker will charge you a $100 administration fee. Not to forget, AvaTrade requires traders who hold positions overnight to cover a premium.
Here’s a breakdown of the fees you should expect to encounter while trading with this service provider:
| Fees and Charges | Amount |
|---|---|
| Spreads | From 0.9 pips |
| Administration fee | $100 |
| Inactivity fee | $50 |
| Overnight premium | Yes |
3. eToro – Beginner-Friendly Stock Trading App in Australia
If you are looking for the best stock trading app Australia for beginners, eToro is a viable choice. From our analysis, this app is one of the most user-friendly and highly rated. Plus, we noticed that the app hosts numerous learning materials, including articles, guides, eBooks, webinars, and more. There is also a CopyTrader platform that can help newbies interact with other traders and learn various trading tips. Through the platform, they can also mirror expert traders’ positions and earn profits when they do.
We traded more than 4,500 stocks listed on 50+ global markets. With eToro, stock trading is commission-free, and Australian traders can get started with as little as A$50. Sadly, the spreads for stock trading are a bit high compared to most of its peers. Withdrawals also incur an A$5 fee, and there are no third-party platforms like MT4/5.
eToro
✔ User-friendly trading platform
✔ Over 6000 trading instruments
Pros & Cons
Fees
Trading Assets
Pros
- No deposit charges
- Commission-free stock trading
- Two-step authentication login on its mobile app
- Features social and copy trading
Cons
- The DupliTrade and ZuluTrade platforms have high minimum deposit requirements of A$2,000 and A$200, respectively
- Charges withdrawal fees
eToro has a transparent fee structure that is easy to understand and helps you plan accordingly. From our analysis, we discovered the following trading and non-trading eToro fees.
| Trading and Non-Trading Charges | Details |
|---|---|
| Account Opening | $0 |
| Management Fee | $0 |
| From $50, depending on your jurisdiction | 0.6 |
| Commission | From 0% on stocks and ETF trading |
| Spreads | From 1 pip on major currency pairs |
| Deposits and Withdrawals | $5 withdrawal |
| Inactivity | $10 monthly |
| Currency Conversion | 1.5% or 3.0%, depending on the currency or payment method |
| Overnight Funding | Varies based on global market conditions |
| Copy Trading | Free |
4. FP Markets – Best Stock Trading App With Excellent Support Service
FP Markets impressed us with its professional staff, who were very responsive and reliable in managing our issues. We didn’t have problems contacting the team or waiting for long to be attended to. Its 24/7 support is available in 12+ languages via phone, live chat, and email. We also discovered a comprehensive FAQ section that can be of assistance to anyone starting to learn more about how stock trading works.
Besides having one of the best support services, the FP Markets best stock trading app Australia is user-friendly. It has multiple platforms and trading accounts, but our stock trading experience with its IRess account was exceptional. Some of the features we enjoyed include automated trading, access to over 10,000 global stocks, Direct Market Access pricing, customisable chart templates, and more. You can start live trading for as low as A$100 or explore the market using its risk-free demo account.
FP Markets
✔Low minimum deposit requirement
✔Hosts numerous learning and market analysis tools
Pros & Cons
Fees
Trading Assets
Pros
- Low minimum deposit requirement
- Free transactions
- Quality learning and research materials
- Multiple trading accounts, including MT4, MT5, cTrader, and TradingView
Cons
- You can only trade the stocks as CFDs
- The Iress account has a high minimum deposit requirement of A$1,000
We reviewed the applicable FP Markets fees, and like that the broker has a transparent structure. This allows users to efficiently plan for their activities without worrying about incurring additional costs. There are no hidden charges and no price manipulation with this broker.
| Trading and Non-Trading Charges | Details |
|---|---|
| Account Opening | $0 |
| Management Fee | $0 |
| Minimum Deposit Requirement | From $50, depending on your jurisdiction |
| Commission | From 0% |
| Spreads | From 0.0 pips on major currency pairs |
| Deposits and Withdrawals | Free deposits. Withdrawal fees apply based on the payment method used |
| Inactivity | $0 |
| Overnight Funding | Varies based on global market conditions |
| Copy Trading | Free |
5. Saxo – Top Stock Trading App For Professional Aussie Traders
We primarily recommend the SaxoTraderGO app to professional traders because of its advanced resources, which we like. From our experience, the app is easily downloadable on Android and iOS mobile devices. Stock trading exposes users to over 23,500 equities across 50+ global markets, including Hong Kong, New York, London, and more. The best part is that you can start investing in company stocks with as little as A$1 commission for American shares. Plus, the SaxoTraderGO allows users to diversify their portfolios across forex, commodities, futures, bonds, ETFs, and more.
There are no third-party platforms at Saxo, but this shouldn’t hinder you from exploring the market with the app’s advanced resources. We also like that its support service team is professional while handling issues. With no minimum deposit requirement and zero transaction fees, the SaxoTraderGO app makes it easier for all types of traders to start exploring the stock market.
Pros & Cons
Pros
- Low minimum deposit requirement
- Over 23,500 stocks to explore
- Hosts a SaxoTraderPro platform with advanced resources for professional traders
- Has a reliable and responsive 24/5 support team via phone, email, and live chat
Cons
- Stock investment commission is higher compared to its peers
- No third-party platforms like MT4, MT5, and more
Stock Trading in Australia
Stock trading Australia exposes individuals to various company equities listed in the Australian Securities Exchange (ASX). While you can purchase stocks directly from an exchange, the procedures involved are complex and require professionals with lots of money. The good news is that various stock brokers are available in Australia. With brokers, you will have access to not only the ASX-listed stocks but also those on other global exchanges like NYSE, NASDAQ, LSE, and more.
The Australian Securities and Investment Commission (ASIC) is responsible for overseeing Australia’s stock trading activities. Its main aim is to uphold the integrity of the market while securing traders’ needs in the region. It ensures no imposters or fraudsters take advantage of innocent traders by regulating all stock brokers in the region.
The share market is dynamic, and trading stocks in Australia carries the risk of losing money. You can only increase your chances of success by remaining disciplined and conducting thorough research before opening a position. Note that even the most professional stock traders lose money. Therefore, be open to learning from your mistakes and keep going until you become more independent and successful.
When it comes to tax implications, stock trading in Australia is considered a business venture. This means that any profits you earn from the activity must undergo capital gains tax deductions.
What is Stock Trading?
Stock trading involves the buying and selling of various company stocks. With this activity, you will predict the direction in which an asset will go with the aim of earning profits in the long run. Stock trading involves capitalising on short-term market trends.
In stock trading, you can either buy a company equity and take full ownership or trade the asset as derivatives. When you buy a company stock, you become a partial owner of that company. This gives you an entitlement to dividend earnings, which are mostly paid to shareholders annually.
Derivative stock trading comes in various forms, including CFDs, indices, and spread betting. While spread betting is not allowed in Australia, you can also trade the security as CFD. Through this method, you get to speculate on the rising or falling of a stock value. This way, you will benefit from the price difference once the trade closes.
There is also indices trading, whereby you trade in a basket of various company stocks with a specific sector or economy. Indices trading carries limited risks compared to trading a single stock as you will be investing in a diversified portfolio.
How does Stock Trading Work?
In Australia, you need a reliable stock trading app to trade the asset. The broker should be ASIC-regulated to guarantee safety and host your preferred company stocks. Plus, it should give you access to various exchanges that list stocks if you want to buy and take full ownership.
There are various stock trading strategies that you can opt for when exploring this asset. For instance, you can day trade, whereby traders open and close positions within the same day. There is also swing trading, which involves holding on to an asset for a few days or weeks and long-term investing, where you buy and hold stocks for years.
Regardless of the stock you trade, you must be strategic to maximise your chances of success. Being knowledgeable about stock trading is the first step towards success. You can learn more about this market by utilising brokers’ learning materials.
How to Choose the Best Stock Trading App in AU
Selecting the best stock trading app Australia is not a walk in the park. You must go out of your way and conduct thorough research that involves multiple tests and comparisons. The goal is to leave no stone unturned and choose what aligns with your requirements.
Here are the top features to consider when choosing an app for stock trading in Australia.
Licences/Regulations
Charges
Asset Offerings
Platform Performance
Support Service
User Recommendations
In Australia, the stock market is overseen by the Australian Securities and Investment Commission (ASIC). This means that any stock trading app you consider must be licensed and regulated by this authority. The best element about using such apps for your activities is that your funds are safe in segregated accounts. Plus, you enjoy the best trading conditions that will excite your experience.
Additionally, the share market in Australia hosts fraudsters. Therefore, confirming an app’s regulatory status will ensure you avoid falling victim to such unscrupulous individuals. Our top stock trading apps are ASIC-regulated, thus guaranteeing maximum safety.
Every stock trader should have a budget before engaging in this activity. Note that stock trading can bring about profits and losses, and you do not want to invest more than you are comfortable losing. Therefore, choose an app by considering trading and non trading costs. These include minimum deposit requirements, commissions/spreads, transaction charges, inactivity fees, and more.
The best Australian stock trading app should host the right assets for your stock trading needs. Confirm the availability of the company stocks you want to trade and ensure you can explore them through your preferred strategy. For instance, our recommendations above give users access to global exchanges and offer derivatives trading as well. If you meet an app with additional securities, this is a plus. It will be easier for you to spread your capital across multiple asset classes and limit the risks of putting all your money in one basket.
Whether you are a beginner or a professional stock trader, the stock app you choose should be user-friendly, customisable, and have a modern design. Plus, it should have a fast trade execution speed, especially if you are looking to open short-term positions. Also, check the availability of learning and research materials. An app supporting users with quality resources proves it has your interest at heart. For newbies, ensure the app has a demo account to test it without using your hard-earned money.
We find this element necessary when considering the best Australian stock trading app. You see, it is challenging to manage stock trading on your own. At some point, you will require clarifications or guidance to be able to make the best decisions. An app with reliable and responsive support service is what you need in the dynamic stock market. Simply confirm availability and ensure they operate within your trading schedule. Plus, the app’s team must be reachable via convenient channels like live chat, email, and phone.
Since we incorporate user testimonials in our research procedure, you should as well. Analysing as many comments and ratings on Google Play, the App Store, and Trustpilot will help you understand an app’s strengths and weaknesses from a user perspective. As a result, you will make a choice based on what interests you and not listen to your friends or relatives’ recommendations.
Stock Trading Risks
Stock trading is risky, as the market is dynamic, with prices constantly changing. With this in mind, it is essential to conduct thorough market research before opening a position. Use your broker’s resources to analyse a company’s share value, including its historical performance, to identify the best entry and exit points.
For traders engaging in stock CFD trading, the activity carries the risk of losing more than your initial capital. When you apply leverage in a trade, your provider will allow you to open a position with borrowed funds. If a trade doesn’t work out as expected, you will be left with massive losses. Simply put, leverage can bring good profits, but do not utilise amounts you are not comfortable losing.
Stock trading also comes with cash management risks, especially if you have no plan to stick to it. We have witnessed many traders incurring more and more losses simply because they couldn’t control their emotions after a loss or profit. We advise you to only trade when you see potential and not with an aim to cover a loss or earn more.
Pros & Cons of Stock Trading
Stock trading has been around for decades, and many engage in the activity because of the benefits that come with it. However, there are also cons that you must be aware of before you engage in the activity. Some of the advantages and disadvantages of stock trading include:
| Pros | Cons |
|---|---|
| You can earn profits with the right stocks and strategies | Leverage in stock trading can leave you with massive losses |
| Stocks are among the most liquid assets, making you to easily buy and sell them | The volatility of the stock market makes prices fluctuate, thus making it challenging for traders to make accurate predictions |
| By owning a company stock, you become a partial owner of the company. This allows you to earn dividend payments. | You must pay trading fees in this venture, with the amount varying from broker to broker. |
| Stock trading is easily accessible through internet-enabled desktop or mobile devices. | |
| Stock trading allows you to apply leverage, which can amplify returns should things work out in your favour. |
Conclusion
Stock trading apps in Australia have become a necessity when managing online activities. While we recommend the best for you to choose from, your input in stock trading goes a long way to bringing success. Start by learning how the share market operates and prices that affect various equities. Plus, ensure you conduct a thorough market analysis for solid strategies that could maximise your potential. Since profits are never guaranteed in stock trading, apply risk management controls to your activities. The tools will help you close a position at a certain level, thus mitigating massive losses.