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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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
Note: 82% of retail investor accounts lose money when trading CFDs with this provider.
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:
Best Share Trading Platform Australia | License & Regulation | Support Service | Software | Payment Method | Demo Account |
---|---|---|---|---|---|
Pepperstone | FCA, ASIC, DFSA, CySEC, CMAK, SCB, BaFin | 24/7 | TradingView, MT4, MT5, cTrader, Pepperstone Trading Platform, Social trading | PayPal, Visa, MasterCard, Bank Transfers | Yes |
Plus500* 82% of retail investor accounts lose money when trading CFDs with this provider. | FMA, FSCA, CySEC, FCA, ASIC, MAS | 24/7 | Plus500 CFD | Visa, MasterCard, PayPal, Skrill, Bank Transfer | Yes |
eToro | FMA, FCA, 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 |
FP Markets | CySEC, FCA, ASIC, FSCA | 24/7 | MT4, MT5, cTrader, TradingView, WebTrader, Mobile Trading App | Credit/debit cards, Neteller, Skrill, Bank transfer, Google Pay, Apple Pay | 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 |
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
Best Share Trading Platform Australia | Minimum Deposit Requirement | Commission/ Spreads | Deposits/ Withdrawals | Inactivity Fee |
---|---|---|---|---|
Pepperstone | $0 | From 0.0 pips | Free | None |
Plus500* | $100 | From 0% | Free | $10 monthly |
eToro | $50 | From 0% | $5 Withdrawal | $10 monthly |
FP Markets | $100 | From 0.0 pips | Free | $0 |
AvaTrade | $100 | From 0.9 pips | Free | $50 after every 3 months of inactivity |
Note: 82% of retail investor accounts lose money when trading CFDs with this provider.
Assets
Best Share Trading Platform Australia | Stocks | Forex | Cryptocurrencies | Commodities | Indices | ETFs | Options |
---|---|---|---|---|---|---|---|
Pepperstone | Yes | Yes | Yes | Yes | Yes | No | No |
Plus500* | Yes | Yes | Yes | Yes | Yes | Yes | No |
eToro | Yes | Yes | Yes | Yes | Yes | Yes | No |
FP Markets | Yes | Yes | Yes | Yes | Yes | Yes | No |
AvaTrade | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
Note: 82% of retail investor accounts lose money when trading CFDs with this provider.
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.
Pros
- There are no inactivity fees, and it has low spreads
- Access to MT4, MT5, and cTrader
- A broad range of assets, such as forex, commodities, and stocks
- $0 minimum deposit requirement
- Free withdrawals and deposits
Cons
- Limited access to options and ETFs
- Lacks proprietary platform for starters
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. 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.
Note: 82% of retail investor accounts lose money when trading CFDs with this provider.
Pros
- Access to 2800+ CFDs, including cryptocurrencies, forex, and shares
- Intuitive platform
- Zero commissions and low spreads
- Secure, ASIC-regulated trading environment
- Superb risk management features, such as guaranteed stop-loss orders
Cons
- It doesn’t support external platforms such as MT4/5
- Inactivity charge that springs into action after 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 |
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.
Pros
- Social trading feature to get insights from successful players
- More than 6,000 assets, including cryptocurrencies, ETFs, and real stocks
- Commission-free trading on ETFs and stocks
- User-friendly and community-focused interface
- Add one more pro
Cons
- Higher Forex pairs’ spreads than other platforms
- High inactivity charges
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 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.
Pros
- Access to more than 10,000 trading instruments, including forex, stocks, and ETFs
- Doesn’t charge deposits and withdrawals
- A raw account with spreads from 0.0 pips
- Advanced trading platforms like MT4, MT5, and IRESS
- No inactivity fee
Cons
- Higher charges for IRESS access
- Limited advanced tools and learning materials
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. 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.
Pros
- Rich educational resources
- Access to MT4 and MT5 platforms
- Free deposits and withdrawals
- Unique AvaProtect to protect against loss
- Access to major assets, such as stocks, forex, cryptocurrencies, indices, ETFs, and options
Cons
- High charges on dormant accounts
- Lacks 24/7 customer support
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 |
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:
- 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.
- 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.
- Research and cherry-pick shares: This is a crucial step. Analyze a company’s financial position and market trends before buying its shares.
- 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.
- 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:
Costs can accumulate and eat into your profits. Before signing up, consider the platform’s different fees, including brokerage and maintenance charges. Watch out for fees on non-trading activities, such as withdrawal, deposit, and inactivity charges.
A clunky or cluttered platform can easily frustrate any beginner or seasoned trader. So go for a user-friendly one that offers seamless navigation and trading. Be sure you can switch from your desktop to mobile experience without stress.
Continuous learning boosts your odds of scooping profits in share trading. Ensure your platform houses educational resources, research reports, and analysis tools. That way, you’ll always be ahead of the industry trends, company performance, and the latest trading tricks.
Security is a significant factor in any trading. You want to ensure your funds, personal details, and trading activities will be safe on the platform. Therefore, if the platform isn’t regulated by ASIC or other reputable regulatory bodies, flee without looking behind.
Even on the best platform, issues with your account or trades are bound to crop up. That’s where a professional customer support team should come in to save the day. A serious platform has many support channels, such as live chat, email addresses, phone numbers, and FAQ sections.
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:
- 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.
- 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.
- 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.
- 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.
- 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!