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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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Investing in financial assets like stocks, cryptos, and bonds can lead to financial growth and stability. With the right assets and investment decisions, you can generate substantial income, accumulate wealth, and secure your future. But to gain maximum boons and avoid catastrophic losses, you must use a good and reliable investment platform.
Finding a reliable investment platform guaranteed to help you hit your financial goals can be difficult, and rightly so. Countless service providers are available in Australia – both good and bad. But this issue shouldn’t bother any of our readers. We’ve made finding the best investment platform Australia by vetting diverse service providers and recommending the pacesetters based on our discoveries and experiences.
List of the Best Investment Platforms
- Saxo – Overall Best Investment Platform Australia
- eToro – Best Investment Platform for Beginners in Australia
- OANDA – Best Shares Investment Platform in Australia
- Kraken – Best Investment Platform for Crypto Enthusiasts in Australia
- Interactive Brokers – Most Well-Rounded Investment Platform in Australia
In This Guide
Australian Investment Platforms: Comparison Table
We’ve listed 5 of the best investment platforms in the previous section, from Saxo, our top pick, to Kraken, the ideal choice for crypto enthusiasts. But what process and criteria did we use to pick this service provider from the vast pool of options available today?
First, our experts researched most, if not all, of the licensed and reputable investment platforms in Australia. Then, we selected the most promising providers and pitted them against each other. While doing so, our team paid attention to numerous predetermined aspects, from regulatory status and customer support service to supported payment methods and software solutions. The entire process took several days. Finally, we singled out 5 platforms that are, without any doubt, better than the rest.
We encourage you to pick one of our top 5 investment platforms Australia for optimum convenience and peace of mind. We also urge you to vet and evaluate every service provider’s suitability based on the same factors we used to identify the best investing platforms in Australia. Here’s a highlight of the most crucial ones.
| Best Investment Platform Australia | License & Regulation | Support Service | Software | Payment Method | Demo Account |
|---|---|---|---|---|---|
| Saxo | ASIC, FCA, FSA, MAS, FINMA, JFSA, SFC, AFM, FSMA | 24/5 | SaxoTraderGo, SaxoTraderPRO | Bank/wire transfer, debit card | Yes |
| eToro | FCA, MAS, CySEC, FSCA, ASIC, 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 |
| OANDA | ASIC, MAS, FCA, CFTC, PFSA, IIROC, FSA, FSC BVI | 24/5 | OANDA Mobile, OANDA Web, MetaTrader 4, TradingView | Credit/debit cards, Bank transfer, Wire transfer, Skrill, Neteller | Yes |
| Kraken | AUSTRAC, ASIC, FCA, FinCEN, FINTRAC, OAM, BoS, CBI, DNBM, ADGM | 24/7 | Kraken, Kraken Pro, Kraken Classic | Credit/debit cards, PayPal, Bank transfer, Apple Pay, Google Pay | Yes |
| Interactive Brokers | FCA, SEC, FINRA, ICS, CBH, ASIC, SFC, MAS | 24/5 | IBKR Desktop, IBKR Trader Workstation (TWS), IBKR Mobile, IBKR GlobalTrader | Check, wire transfer, direct bank transfer (ACH) | Yes |
Platforms Short Overview
Don’t forget to factor in fees and assets while choosing the ideal investment platform for you. High fees will negatively impact your net returns in the long run, so investing with an affordable platform is paramount. In addition, to ensure you have everything you need to leverage optimum opportunities and hedge against risk, you must sign up with a service provider offering an extensive range of assets, including your favorite products.
Use the table below to familiarize yourself with our recommended platforms’ fees and assets and identify a provider that matches your goals and requirements.
Fees
| Best Investment Platform Australia | Minimum Deposit Requirement | Commission/ Spreads | Deposits/ Withdrawals | Inactivity Fee |
|---|---|---|---|---|
| Saxo | $0 | From 0.03% | $0 | $0 |
| eToro | $50 | From 0% | $5 withdrawal fee | $10 monthly |
| OANDA | $0 | From $0 | $20 withdrawal fee | $10 monthly |
| Kraken | $1 | From 0.00% to 0.01% maker/taker fee | Free | $0 |
| Interactive Brokers | $0 | From 0.08% | From $10 withdrawal fees | $0 |
Assets
| Best Investment Platform Australia | Stocks | Forex | Crypto | Commodities | Indices | ETFs | Options |
|---|---|---|---|---|---|---|---|
| Saxo | Yes | Yes | No | Yes | Yes | Yes | Yes |
| eToro | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| OANDA | Yes | Yes | Yes | Yes | Yes | Yes | No |
| Kraken | No | Yes | Yes | Yes | No | No | No |
| Interactive Brokers | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
Our Expert Opinion about Investment Platforms
The investment platforms we are about to review are regulated by ASIC, AUSTRAC, and other trusted authorities. As such, they are credible and 100% safe to invest with. Our experts trust and recommend them to our readers. However, you should conduct thorough research and evaluation before investing with any of these service providers. You can also seek other investors’ opinions on the most popular investment forums and communities.
And remember that we offer general insights and recommendations. Ensure every provider’s products and services match your financial goals and needs before making long-term commitments.
1. Saxo – Overall Best Investment Platform Australia
Our top choice is Saxo, a platform that boasts over 1.2 million customers. We’ve given our top spot to this service since it has extensive market coverage. As a Saxo user, you have access to over 23,500 stocks from different corners of the globe, including ASX, Hong Kong, and New York. And you don’t have to worry about capital limitations. This broker allows people with limited budgets to start buying US stocks with a minimum of $1.
Besides stocks, Saxo users can get reliable returns from bond investments. This platform has over 5,900 corporate and government bonds from different global regions. Also, Saxo offers bond investors the opportunity to leverage investment inspiration, insights from expert analysts, webinars, live market updates, and more. Such elements are indispensable in effective decision-making.
Saxo also gives its clients access to over 7,000 ETFs from popular sectors like healthcare, tech, and environment. You can buy popular US ETFs for as little as $1 and start your journey to enjoying juicy investment returns. As an investor, you can also diversify your Saxo portfolio with tradable financial instruments like forex pairs, commodities, and crypto CFDs.
If high minimum deposit requirements give you sleepless nights, now’s the time to smile and rest easy. Saxo has no minimum deposit, a godsend for investors working with a limited budget. Moreover, this service provider’s clients enjoy rock-bottom commissions, free transactions, and zero inactivity fees. Additionally, Saxo is one of the leading stock trading apps that offers a user-friendly interface, making it easy for both novice and experienced investors to manage their portfolios effectively.
Pros & Cons
Pros
- Thousands of stocks, bonds, and ETFs
- Low-budget traders can buy stocks and ETFs with as little as $1
- Investors can diversify with currency pairs, commodities, and other tradable financial instruments
- No minimum deposit requirement
- Zero inactivity fees for dormant accounts
- 24/7 multilingual customer support service
Cons
- Higher custody fees for Classic account holders
- No third-party software like MT4 and MT5 for trading enthusiasts
2. eToro – Best Investment Platform for Beginners in Australia
We strongly recommend eToro to Australians who are just starting their investment journey. This company has a world-class educational platform called the eToro Academy. It’s tailored for newbies who need to learn the fundamentals of investing before getting started. The materials offered here cover indispensable topics like reasons to consider investing and the investment terms every investor should know. You can also find rich materials related to the basics of investing in crypto, the best dividend stocks to invest in, and the intricacies of deciphering divergences.
Your journey to becoming a better investor won’t start and stop at eToro’s academy. You can also open a demo account, which will give you access to free $100,000 virtual money that you can use to test and advance your skills. Furthermore, you can join eToro’s vibrant global community, where you will connect with other investors and learn from the best. The community is also a goldmine where social and copy investing are concerned.
eToro is also on our list of the best investment platforms in Australia because it has a commendable selection of financial products. There are over 6,000 assets on this fantastic platform, including over 4,500 stocks from 20 exchanges and 100+ crypto assets. Besides such assets, eToro users have access to thousands of tradable instruments like FX pairs and CFDs on indices and other assets.
eToro
✔ User-friendly trading platform
✔ Over 6000 trading instruments
Pros & Cons
Fees
Trading Assets
Pros
- Simple, beginner-friendly platform interface
- Super-competitive minimum deposit requirements for Australians
- Thousands of stocks, digital currencies, and other investment products
- Users can diversify with currencies, commodities, and other tradable instruments
- Beginners can learn from and copy top investors
- Free online education materials are available
Cons
- $10 monthly inactivity fee
- Higher stock exchange fees for Australians
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. OANDA – Best Shares Investment Platform in Australia
If you need a simple, transparent platform where you buy shares, we recommend OANDA. Register with it today and get access to over 2,200 shares from Britain, Spain, and Germany. You will be in the best position to invest in popular products like Microsoft, Unilever, and Pfizer. With such assets, your portfolio will have uncapped growth potential.
OANDA’s shares come with low commissions, starting at 0.5%. What’s more, this service provider has made it easier for investors like you to pick and buy stocks. All available products have been sorted and filtered exquisitely well. All you have to do is search for your favorite assets using categories like top movers, hot sectors, and most traded stocks. And besides European stocks, OANDA has over 1,400 US shares.
Like most platforms reviewed here, OANDA offers its clients the opportunity to trade CFDs on crypto, commodities, indices, and other financial instruments. Additionally, this platform supports forex trading and some of the friendliest spreads out there. In other words, diversifying your portfolio won’t be an issue while investing with OANDA.
OANDA
✔Offers a negative balance protection
✔Customizable trading platform
Pros & Cons
Fees
Trading Assets
Pros
- Thousands of European and US shares are available
- Users can also engage in CFD trading
- Low commissions starting from 0%
- MT5 and TradingView are hosted
- Professionals get negative balance protection, higher leverage, and other unique boons
- Investors can profit from unused margin
Cons
- Limited educational materials
- $10 monthly account inactivity fee
OANDA broker has a clear fee structure with no hidden charges. This makes it easier for you to know how much you will be paying once you make a commitment. Some of the fees to incur at OANDA include the following:
| Trading and Non-Trading Charges | Details |
|---|---|
| Account Opening | $0 |
| Management Fee | $0 |
| Minimum Deposit Requirement | From $0, depending on your jurisdiction |
| Commission | From 0% on US-listed shares |
| Spreads | From 0.6 points |
| Deposits and Withdrawals | Free deposits. Withdrawal fees apply based on the payment method used |
| Inactivity | $10 after 12 months |
| Overnight Funding | Varies based on global market conditions |
| Currency Conversion Fee | Calculated by applying a 0.5% mark-up or mark-down |
4. Kraken – Best Investment Platform for Crypto Enthusiasts in Australia
As of 2023, around 4.5 million Aussies owned crypto. The number has spiked since then, courtesy of an increase in the popularity of digital assets. If you’re interested in crypto, we highly recommend buying assets with Kraken. Founded in 2011, Kraken is a trusted platform used by 9 million individuals and institutions.
Kraken has made it easier for Australians to buy and sell over 280 cryptos, from Bitcoin and Dash to Kava, Ethereum, and more. You can purchase such assets and keep them in your Kraken wallet while waiting for their value to increase. Additionally, you can stake supported cryptocurrencies and earn considerable returns in the long run.
The best thing about investing with Kraken is that you can start with just $10. Moreover, while investing, you can also trade crypto and boost your earnings. If you encounter any issues while trading or investing with Kraken, all you have to do is contact support. This platform’s representatives are available 24/7 via chat, phone, and email.
Kraken
✔245+ available crypto
✔Simple user interface
Pros & Cons
Fees
Trading Assets
Pros
- Simplified platform interface ideal for beginners and pros
- Hundreds of crypto assets are available
- Professional support is available 24/7
- Flexible funding options, including cash and cards
- New investors can start buying crypto with $10
- Crypto trading and staking are supported
- No account inactivity fees
Cons
- Only crypto assets are available
- Limited learning materials
Fees are a bone of contention with Kraken because while some praise the platform’s affordability, lenient fees are mostly available to pro users and high-volume traders. For instance, individuals with a 30-day trading volume can enjoysuper-low maker fees starting from 0.00%. On the other hand, the maker/taker fees for low-volume traders can go as high 0.25%/0.4%. We’ve outlined some of the fees that our gurus unearthed while evaluating Kraken in the table below.
| Fees and Charges | Details |
|---|---|
| Maker/taker fees | From 0.00%/0.10% |
| Margin trading fees | Between 0.01% and 0.02% |
| Rollover fee | Up to 0.02% (per 4 hours) |
| Instant buy fees | Yes |
| Account inactivity fees | No |
| Minimum deposit requirement | 0.00001 BTC |
5. Interactive Brokers – Most Well-Rounded Investment Platform in Australia
We consider Interactive Brokers to be the most well-rounded investment platform in Australia for a beaver of reasons. First, IBKR has an extensive assortment of tradable and investment financial products, ranging from stocks and futures to ETFs, options, and indices. You can open a free account with this broker, deposit whatever you can afford since there’s no minimum deposit requirement, and invest in your favorite instruments without any hassles.
But here’s what makes IBKR exceptional. This platform has numerous unique investment accounts you won’t find on many of its peers. You can open an individual investment account with this broker or a joint account that you can use by one more person, like a loved one. You can also open an IRA and use it to prepare for retirement.
If you are new to investing and need to learn the basics before risking your money, Interactive Brokers is here to help. The platform has innumerable educational materials, including courses, podcasts, and webinars. You can also improve your knowledge of the financial markets with recent news and commentaries.
Interactive Brokers
✔$0 minimum deposit requirement
✔No account inactivity fees
Pros & Cons
Fees
Trading Assets
Pros
- Offers tens of thousands of financial assets
- Top-tier educational resources
- IRA, joint, and individual accounts are available
- No minimum deposit requirement
- Low, transparent spreads and commissions
- Supports sustainable investing
- No monthly fee for inactive accounts
Cons
- No third-party trading platforms
- Tailored primarily for advanced investors
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% |
Investing in Australia
Australia has a robust regulatory framework surrounding investing. And that’s a good thing since it guarantees optimum investor protection. Without strict regulation, Aussie investors like yourself would be highly exposed to issues like market manipulation and fraud. But it’s up to you to optimize your safety and security by choosing ASIC-authorized and regulated investment platforms.
Note that regulated investment platforms have strict KYC protocols. You can’t invest with them without proving your identity, location, and age. You must have valid identification information, proof of address, and be at least 18 years old to invest in different financial products in Australia.
Also, investment income is taxable in Aussieland. According to ATO mandates, you must declare proceeds from assets and investments in your tax return. Research and get acquainted with all applicable taxation laws to avoid severe penalties and hefty fines.
What is an Investment Platform?
An investment platform is a digital service provider that allows people from all over the world, Australia included, to invest in financial assets like stocks, bonds, and ETFs. The best investment platforms give investors all the tools they need to make informed decisions, from recent news updates to advanced research and market analysis tools. Depending on what your preferred service provider supports, you can access an online investment platform from a PC, tablet, or mobile phone.
How to Choose the Best Investment Platform in AU
In Australia, investment platforms are available in their numbers. As any experienced investor will tell you, not all of the service providers operating in this region offer top-notch services. To make matters worse, there are many scammy and fraudulent platforms. We’ve been in the scene long enough to know that paying close attention to the following factors is crucial to finding the best online investment platform Australia:
Licensing and Regulation
Security
Asset Range
Fees and Charges
User Experience and Interface
Customer Support
Online Reputation
Investment platforms are regulated and monitored by ASIC in Australia. You can safely assume the worst of the service providers that don’t adhere to ASIC rules and mandates. We strongly urge you to limit your investment activities to ASIC-regulated brands to avoid exposing your hard-earned money and sensitive data to cyber criminals and other unscrupulous entities.
Cybercriminals steal billions of dollars each year. Some of this money comes from online trading and investment platforms. With that in mind, you should lessen your odds of losing money to cybercrime by investing with a service provider that employs the best data encryption, account protection, and crime detection systems.
Do you have a specific asset that you’d like to invest in? Find a platform that offers it. And remember that the only thing that can save you from catastrophic losses is portfolio diversification. As such, you have to sign up with a platform that offers a considerable variety of financial instruments.
Consider fees and charges while scouring the internet for a fitting investment platform. Compare available providers’ brokerage charges, transaction fees, etc. And be keen since some service providers have hidden costs. To avoid compromising your returns in the long run, prioritize trading with an affordable platform.
You should gauge if every platform’s interface is fitting depending on your experience level as an investor. If you are a newbie, choose a service provider with a simple, beginner-friendly user interface. But if you are a seasoned pro, go with any option that appeals to you.
Since excellent customer support is indispensable to investors, we urge you to sign up with a platform that offers this element. Check availability and supported channels while getting a provider’s customer support service. You should also test the support team with a few fundamental questions.
Never invest with a platform before reviewing its online ratings and testimonials. These elements can help you determine reliability and trustworthiness effortlessly. The best investment platforms in Australia have high ratings and positive reviews, and vice versa.
Investing Risks for AU Traders
While investing in Australia, you will be exposed to the following noteworthy risks:
- Market risk
The prices of financial assets fluctuate constantly, courtesy of changing market conditions and other factors. And significant price fluctuations can catalyze immense monetary losses. Moreover, numerous elements can negatively impact market performance, including inflation and changing interest rates.
- Operational risk
Investment platforms can fail from time to time. They can also develop issues like constant downtime and technical glitches. Not to mention, fundamental systems may become compromised and expose your resources to cybercrime.
- Behavioral risk
As a human, you are susceptible to emotions like frustration, happiness, and fear. Unfortunately, most human emotions can compromise your ability to make the best decisions and cultivate the tendency to make high-risk investment moves.
Pros & Cons of Investing with Investment Platform
Before you choose an investment platform and go all in, please review the pros and cons of investing with investment platforms.
Pros:
- The best platforms give you access to a broad range of assets
- Investment platforms are highly regulated and monitored in Australia
- Digital platforms allow you to invest and manage your portfolio from anywhere
- Investment platforms give investors access to advanced tools and features
Cons:
- Cybercriminals often target online investment platforms
- Complex investment platforms can be overwhelming to newbies
Conclusion
Investing is inherently risky. We strongly advise you to reduce your exposure to crippling losses by learning everything you can about how investment products work and their failibilities before making any life-changing decisions. Also, keep an eye out for fraudulent platforms and unscrupulous service providers, including certain investment apps, whose primary goal is to separate you from your hard-earned money.
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