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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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The advancing technology has encouraged many Australians to try online investments across various securities like stocks, ETFs, commodities, cryptocurrencies, and more. With the region’s robust economy, having the best investment platform is crucial to increasing profitability. Many Aussies prefer mobile-friendly options that they can easily install on their Android or iOS devices. This way, they can manage and track their investments while on the move or away from their investing stations.
Since choosing the best investment apps Australia 2024 can be challenging given the multitude of options, BrokerRaters experts are here to save the day. Besides recommending the best apps for investing in Australia, we shed light on additional elements that will encourage you to take the leap of faith.
List of the Best Investment Apps
- Saxo – Overall Best Investment App in Australia
- eToro – Commission-Free Investment App in Australia
- Interactive Brokers – Best App For Professional Aussie Investors
- Plus500* – Beginner-Friendly Investment App in Australia
- FP Markets – Top Investment App With Excellent Support Service
Note: 82% of retail investor accounts lose money when trading CFDs with this provider.
In This Guide
Australian Investment Apps: Comparison Table
We take our research process seriously to ensure we make the best recommendations. Overall, we spent hundreds of hours testing and comparing as many investment apps in Australia as possible. We shortlisted what we believe to be the best based on various elements, including security, charges, support service, platform reliability, and demo account.
Our research also led us to analyse user testimonials on Google Play, the App Store, and Trustpilot. We wanted to understand each app’s strengths and weaknesses from a user perspective. By doing so, we combined our findings and test results to come up with unbiased recommendations, which we share in this guide.
That being said, utilise our comparison table below to choose a suitable investment app based on its features.
| Best Investment App Australia | License | Support Service | Software | Payment | Demo Account |
|---|---|---|---|---|---|
| Saxo | FCA, SCA, DFSA | 24/5 | SaxoTraderGO, SaxoTraderPRO, SaxoInvestor | Bank Wire Transfer, Debit cards | Yes |
| eToro | ASIC, CySEC, FCA, FSAS | 24/5 | eToro investing platform, Multi-asset platform, Copy Trader | Credit/debit cards, PayPal, Bank transfer, Neteller, Skrill, eToro Money, Online Banking | Yes |
| Interactive Brokers | FCA, FSA, CFTC | 24/5 | IBKR Mobile, APIs, Trader Workstation | Bank or wire transfers | Yes |
| Plus500* 82% of retail investor accounts lose money when trading CFDs with this provider. | FCA, CySEC, ASIC, MAS, FSA | 24/7 | Plus500 Webtrader | Bank Wire Transfer, Credit/debit cards, Paypal, Skrill | Yes |
| FP Markets | FCA, FSCA, ASIC, 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 |
Apps Short Overview
Whether you are a newbie looking to try short-term investments or are a professional Aussie seeking a long-term investment app, it is crucial to consider various elements. Our analysis shows that many investors consider safety by settling with highly encrypted apps that ASIC regulates. Plus, they consider affordability and asset offerings to plan and budget accordingly.
Below, we share tables showing overviews of the fee structures and available securities at our best investing apps Australia. Our goal is to ensure you select a suitable option that will give you an exciting experience.
Fees
| Best Investment App Australia | Commissions/Spreads | Minimum Deposit Requirement | Transaction | Inactivity |
|---|---|---|---|---|
| Saxo | Commissions from A$1 | A$0 | Free | None |
| eToro | From 2 pips | A$50 | A$5 withdrawal | A$10 monthly |
| IBKR | From A$0.0005 to A$0.0035 per share on US stocks | A$0 | Free | None |
| Plus500* | From 0.0 pips | A$100 | Free | A$10 monthly |
| FP Markets | From 0.0 pips | A$100 | Free deposits | None |
Note: 82% of retail investor accounts lose money when trading CFDs with this provider.
Assets
| Best Investment App Australia | Forex | Stocks | Commodities | ETFs | Options |
|---|---|---|---|---|---|
| Saxo | Yes | Yes | Yes | Yes | Yes |
| eToro | Yes | Yes | Yes | Yes | No |
| IBKR | Yes | Yes | Yes | Yes | Yes |
| Plus500* (CFDs) | Yes | Yes | Yes | Yes | Yes |
| FP Markets | Yes | Yes | Yes | Yes | Yes |
Note: 82% of retail investor accounts lose money when trading CFDs with this provider.
Our Expert Opinion about Investment Apps in Australia
As experts, we do not just randomly select investment apps and recommend them to our readers. Instead, we conduct multiple tests on as many as we could and leave no stone unturned. We want to ensure that we only get the best of the best to suit all types of investors in Australia. Keep reading to discover some of the elements that make our top investment apps Australia stand out. We share the mini-reviews below based on our hands-on experience. All you have to do is compare them and make suitable choices for your skill level and investment needs.
1. Saxo – Overall Best Investment App in Australia
Saxo continues to captivate Australian investors with its cutting-edge features on its SaxoTraderGO app. From our analysis, the app is user-friendly and offers users an opportunity to invest across over 71,000 securities. These include shares, commodities, cryptos, bonds, and more. The best part is that investment attracts low fees from A$1 on US-listed stocks, and there is no minimum deposit requirement.
The SaxoTraderGO app comes with different investment accounts to suit all types of users. Depending on your skill level, you can choose between classic, platinum, and VIP accounts. Plus, the app hosts advanced resources for market analysis and innovative risk management features such as account shield, stop orders, margin alerts, and more. And if you want to alternate between mobile and desktop trading, you can do so via its SaxoTraderPRO and SaxoInvestor platforms.
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
2. eToro – Commission-Free Investment App in Australia
Our analysis shows that eToro is the best commission-free investment app, especially for stock investors. Stock investing gives you access to over 4,500 equities across over 20 exchanges. With this app, you will own the underlying security and benefit from dividend payments if applicable. Moreover, eToro allows you to invest in fractional shares, thus exposing you to popular company stocks across the globe.
Another unique feature of eToro is its social and copy trading. Through its CopyTrader platform, you will meet and interact with other global traders, share ideas and follow the most professional ones. This way, you can copy their potentially profitable positions and earn profits when they do. On top of that, there is a Smart Investor platform, whereby you will be guided through the best investment portfolios for your long-term goals.
eToro
✔ User-friendly trading platform
✔ Over 6000 trading instruments
Pros & Cons
Fees
Trading Assets
Pros
- Intuitive user interface tailored to make navigation easy for beginners
- Offers a free academy platform with top-quality courses and other materials
- Low minimum deposit requirements for Australians
- Beginners can leverage the power of copy and social trading
Cons
- A$5 fee for every withdrawal request
- No third-party platforms like MT4/5
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 |
3. Interactive Brokers – Best App For Professional Aussie Investors
Professional Australian investors looking for a reliable app can trust our judgement in Interactive Brokers (IBKR). First, the app has no minimum deposit requirement and charges low commissions from A$0.0005 to A$0.0035 per share on US stocks. This makes it easier for users to enter multiple positions without worrying about overspending. Moreover, we like that IBKR lists over 10,000 securities, including shares, commodities, ETFs, and more.
When it comes to trading resource availability, Interactive Brokers outshines many. Expect to benefit from Expert Advisors, charting tools, advanced algos, and more on its IBKR GlobalTrader and IBKR Mobile apps. You will also enjoy the same features on the IBKR Desktop and TraderWorkStation. The best part is that these apps are beginner-friendly and backed up by quality learning materials.
Interactive Brokers
✔$0 minimum deposit requirement
✔No account inactivity fees
Pros & Cons
Fees
Trading Assets
Pros
- No minimum, deposit requirement
- A user-friendly and intuitive design IBKR GlobalTrader app, which is perfect for newbies
- Excellent selection of learning and research materials
- Lists numerous investment options to choose from
Cons
- Many users find the desktop platform challenging to navigate
- Its support service response rate can be improved
After conducting thorough research and extensive assesments, we can confidently categorize Interactive Brokers as one of the most affordable service providers out here. As we’ve already mentioned, this company has no minimum deposit requirement. Plus, it allows traders to fund their accounts with payment methods like ACH and wire transfer at no additional cost. We also highly recommend IBKR because, unlike other brokers, it doesn’t require traders to pay inactivity fees for dormant accounts.
Here’s an overview of the Interactive Brokers fees and charges our team unearthed during our evaluation and exploration:
| Type | Fee |
|---|---|
| Account opening and maintenance | $0 |
| Deposit | $0 |
| Withdrawal | Yes |
| Inactivity | $0 |
| Overnight charges | Yes |
| Currency conversion | 0,5% |
4. Plus500 – Beginner-Friendly Investment App in Australia
If you are a beginner trying to enter the world of financial investing, Plus500* is beginner-friendly. Not only does it have a user-friendly platform, but it is also customisable. Moreover, we like the app’s demo account, which many users on Google Play, the App Store, and Trustpilot highly rate. You can also make use of its learning materials to advance your skill level.
We noticed that Plus500 lists CFD trading instruments, which, in our opinion, is perfect for newbies. You don’t need to dive straight into long-term investments without getting used to the activity. With CFD assets, you can manage short-term positions and try applying leverage to gauge your risk tolerance. The best part is that CFD investing at Plus500 is commission free and you can get started with as little as A$100.
As one of the leading CFD trading apps, Plus500 provides an accessible and supportive environment for new investors looking to build their confidence and skills.
Note: 82% of retail investor accounts lose money when trading CFDs with this provider.
Plus500
✔Easy-to-use trading platform
✔No hidden charges
Pros & Cons
Fees
Trading Assets
Pros
- Users can invest in over 2,800 CFD financial assets
- Low spreads and commissions-free trades
- Cost-free deposits and withdrawals
- Professional support is available 24/7
- Top-notch educational tools, including articles, guides, videos, and more
Cons
- No third-party platforms like the MT4/5
- Its A$10 monthly inactivity fee kicks in after only three months
Many traders prioritize brokers they can afford. Since fees vary with a broker, we decided to go through Plus500’s fee structure. Here are some of the trading and non-trading charges to expect when you commit to this broker.
| Trading and Non-Trading Charges | Details |
|---|---|
| Account Opening | $0 |
| Minimum Deposit Requirement | $100 |
| Commission | $0 |
| Spreads | From 0.0 pips on major currency pairs |
| Deposits and Withdrawals | $0 |
| Inactivity | $10 monthly |
| Currency Conversion | Up to 0.7% |
| Overnight Funding | Varies based on trade size |
5. FP Markets – Top Investment App With Excellent Support Service
While all our top investing apps Australia have reliable support services, FP Markets stood out in this c category. While contacting the app’s customer care, we met professional individuals who ensured we were completely satisfied. Plus, we like that its team operates 24/7 and is backed up by a comprehensive FAQ section with answers to some of the commonly asked questions for investors.
FP Markets also stood out because of its user-friendly and customisable investment platforms. Although it only features CFD instruments, you will enjoy over 10,000 options across asset classes like shares, commodities, cryptos, and EFTs. Quality market analysis resources are available on the MT4, MT5, cTrader, and TradingView platforms. For beginners, the app hosts adequate learning materials and a social trading platform to maximise your experience.
FP Markets
✔Low minimum deposit requirement
✔Hosts numerous learning and market analysis tools
Pros & Cons
Fees
Trading Assets
Pros
- A 24/7 reliable and responsive support service team via email, phone, and live chat
- Multiple investment platforms to choose from
- Lists over 10,000 instruments
- Automated and social trading available
Cons
- Withdrawal fees apply depending on the payment method
- You can only trade the assets as CFDs
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 |
Investing in Australia
Investing in Australia’s financial space is becoming a common activity. Through brokers like the ones we recommend above, any individual above 18 can engage in this activity. You can put up your money across various securities, including shares, which can bring about profits and dividend payments. You can also invest in cryptos, commodities, and mutual funds, whereby you look to benefit from the asset’s price increase.
Investing can either be short-term or long-term, depending on your preference. Long-term investments mean holding onto a position for periods exceeding one year. In contrast, short-term investments do not last past one year.
The Australian Securities and Investment Commission (ASIC) is responsible for regulating the financial market in Australia. It strives to maintain the integrity of the financial space and protect investors by ensuring all brokers adhere to its laid-down regulations. Therefore, it is best to invest with an ASIC-regulated broker to enjoy your experience.
Note that success doesn’t come with the best investment broker. Dedicate your time to learning how the financial landscape works. Plus, develop solid strategies and remain disciplined to increase your profitability.
How to Start Investing in Australia?
Investing in Australia begins with learning how online investing in the financial space works. Then, identify the best asset you are familiar with so it will be easier for you to develop strategies to maximise your potential. Then, follow the steps below to set up an investment account with a broker you select to kickstart your ventures.
Step 1: Visit your broker’s website
Step 2: Register for an investment account
Step 3: Verify your identity
Step 4: Fund your account
Step 5: Start investing
With your chosen broker, visit its official website to set up an investment account. Before you do, read and understand its terms of service to avoid future inconveniences. It is also crucial to install the broker’s investment app on your Android or iOS device to manage your activities anytime, anywhere.
While you may be seeking the best app for your investment, start by creating an account on the web. With a desktop, the procedure is fast, considering the bigger screen. Simply click the sign up, register, or join now button to share your personal details. These include your name, email, phone number, location, and more. It is also essential to create a unique username and strong password for an added layer of safety to your account.
In Australia, all brokers or apps overseen by ASIC must verify their clients’ identities before activating their investment accounts. In this regard, you will participate in account verification by sharing copies of your personal documents. These include your ID card and utility bill or passport and bank statement. Once you submit the requested documents, your broker will verify that you are not an imposter and send you an email notification on the status of your account.
Upon activation, deposit funds into your investment account. Consider your broker’s minimum deposit requirement since they vary from low to high. You should also make the deposit using a convenient method supported by your broker. For instance, our investment apps above allow deposits using credit/debit cards, bank transfers, and e-wallets.
Your broker will automatically redirect you to its listed investment assets once you make the deposit. At this point, feel free to explore the available options and select what you are familiar with. Then, select a trade size and consider applying risk management controls to ensure you do not incur massive losses in case an investment doesn’t work out in your favour.
For beginners, don’t rush into live investing. Instead, gauge your skill level using your broker’s demo account until you are confident enough. And when you put up real money in live trading, invest what you are comfortable losing in case the market changes against what you expected. Also, diversify your portfolio across diverse assets to mitigate massive losses.
How to Choose the Best Investment App in AU
Choosing the best investing apps Australia will give you a nice head start toward your investment goals. For expert investors, you probably know the procedures involved. Therefore, bear with us as we bring newbies up to speed on what to consider when making a suitable choice.
Licences/Regulations
Available Market Assets
Trading Tools
Trading Platform
Charges
Support Service
User Testimonials
Do not settle for an app that is not licensed and regulated by the Australian Securities and Investment Commission (ASIC). You see, many providers claim to be legitimate in Australia, but that is not the case. Some are fraudsters looking to get away with your hard-earned money.
With an ASIC-regulated investment app, your funds are secured in a segregated account only accessible to you. Plus, you get the best investment environment with favourable conditions. Most importantly, ASIC-regulated apps offer highly encrypted platforms free from unauthorised access.
Whether you want to invest in equities, commodities, mutual funds, or more, choose an app offering your preferred securities. We also advise you to consider one with multiple asset offerings. This way, you can easily try new investment options and discover what’s best for portfolio diversification. The best element about portfolio diversification is that you get to spread risks across multiple assets. As a result, it will be difficult to lose all of your capital since some investments may bring profits to cover incurred losses.
The best investing apps Australia should host quality tools for market technical and fundamental analysis. Such tools help you create the best strategies and identify the best entry and exit points. For beginners, check the availability of learning resources. For instance, our recommended apps above host articles, guides, recorded videos, webinars, and more. It is essential to keep boosting your skills if you want to eventually become an independent and successful investor in Australia.
Aussie investors must choose user-friendly, modern-design apps if they want to enjoy their experience. Also, confirm the execution speed and ensure it is fast enough to enable you to benefit from all arising opportunities. Most importantly, choose an app with a demo account. It is always best to test an app’s performance before making a commitment.
The last thing you want is to spend a lot of money than you had expected in an investment. To avoid this, analyse the fee structure of an investment app you are considering and ensure you can afford it. If an app doesn’t fit your budget, then it is not the right one for you. Compare trading and non-trading charges, including minimum deposit requirements, transaction costs, inactivity fees, overnight fees, and more. The best app should have a transparent fee structure with no hidden costs.
Challenges in the financial space often occur, and you want the best support system when you encounter such. For this reason, gauge an app’s support service team by contacting them. Whether it operates 24/7 or five days a week, ensure it is responsive and offers relevant solutions. Plus, assess the supported communication channels and ensure there is a convenient option for you.
If you want to make the best decisions and choices when it comes to identifying the best investment app, analyse user testimonials. Having an understanding of an app’s features and performance from a user perspective will help you better understand its strengths and weaknesses. You can get honest reviews and comments by visiting Google Play, the App Store, and Trustpilot.
Investment Risks for AU Traders
As mentioned earlier, investing in the Australian financial market is risky. This is because the market is volatile, meaning that prices rarely remain constant. With frequent fluctuations, it’s challenging to make accurate predictions and identify the best entry and exit points. There is no profit guarantee but you can increase your chances with solid strategies.
There is also the leverage risk. For investors who prefer to participate in margin trading, note that leverage can bring about massive losses in case an investment works out against you. Therefore, do not go all in when looking to apply leverage. While it can earn you good profits, select an amount you are comfortable losing.
If you are investing with an app, you will access the market and manage your positions anytime. However, understand that mobile trading comes with cash management risks. With no proper plan in place, you are likely to open positions based on emotions. In the end, you will be risking a lot of your hard-earned money, which can be addictive and affect your nest egg.
Pros & Cons of Investing
Before you decide to engage in online investing in Australia, it is crucial to be familiar with the attached pros and cons. These include:
| Pros | Cons |
|---|---|
| Investing gives you an opportunity to explore the financial market using numerous strategies | Investing in a volatile asset can leave you with losses. There is no profit guarantee |
| You can diversify your portfolio across multiple assets, which increases the potential for higher returns | Online investing exposes you to numerous risks, like cyber attacks and poor internet connectivity. As a result, you may end up with losses |
| Investing enables you to hold on to an asset for years, hoping to earn profits from its rising price | You must be knowledgeable about an asset and conduct a thorough market analysis for increased success potential |
| Investing is flexible, and you can switch to another sector depending on the economic cycle | |
| Investing in stocks can not only bring good profits but also dividend payments |
Conclusion
Thanks to modern technology, investing in the financial landscape has been made easy using mobile apps. In Australia, downloading the top investment apps from Google Play or the App Store is free of charge. Signing up for investment accounts is also free but expect to pay investment charges, which vary with a provider. It is always important to prioritise your needs when selecting an investment app, and we hope this guide will give you proper guidance to do so and more.
Overall, there is no doubt that investment apps are worth it. Not only have they encouraged many Aussie investors to explore the financial markets, but we have also witnessed many thriving at it. To maximise your success potential, remain disciplined and do not make decisions based on emotions. You can acquire an investment journal to note your moves, which helps you avoid repeating the same mistakes.
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