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, offers market insights, and ensures our content conforms to the best standards. Join Thadeus to succeed in your trading endeavors.
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A sea of trading platforms is available in Australia. As an Australian, you have to watch every move you make, otherwise you’ll drown. I’ve said that because the platforms that you have access to range from the good to the bad and the ugly.
Good platforms are reliable and secure, whereas the bad ones have inferior products and services. The last category, the ugly, comprises fraudulent and scammy providers that will clean you out and disappear with your hard-earned money. But don’t worry; I will help you avoid the bad and the ugly by introducing you to the best Australian trading platforms.
Plus500* – Best Platform for CFD Trading in Australia
Pepperstone – Best Platform for Active Australian Traders
FP Markets – Best Forex Trading Platform in Australia
AvaTrade – Best Trading Platform in Australia for Beginners
Note: 82% of retail investor accounts lose money when trading CFDs with this provider.
In This Guide
Compare Brokers Table
Allow me to lay the groundwork with an exhaustive comparison table. It will help you gauge every trading platform’s standing based on the most crucial factors, from licensing and regulatory status to support for demo trading and money insurance. Use the table to compare the top trading platforms in Australia and a candidate that’s likely to meet your needs and requirements.
Let’s get into the meat of the matter, i.e., each platform’s mini-review. Here, I will explain what makes each service provider outstanding and also highlight a few cons that you should be aware of. I aim to be as objective and educational as possible, so I’ll base the mini-reviews on my own experience, findings from extensive research, and opinions from other traders.
1. eToro – Overall Best Trading Platform
I like eToro because it makes trading fun and engaging. This isn’t one of your run-of-the-mill trading tools; far from it. It’s an exceptional provider that gives you the opportunity to join a bustling community of traders where you can learn, share ideas, and dominate the markets with your peers and superiors.
eToro has also earned the top spot due to its unmatched variety of financial assets. I have traded with countless brokers over the years, and I can say with unwavering certainty that finding a broker with a wider scope of assets than eToro is almost impossible. For starters, the provider’s platform has over 7,000 trading instruments, including forex pairs, share CFDs, and index CFDs.
But that isn’t all. In addition to trading instruments, eToro has thousands of assets you can buy, hold, and sell whenever you please. That includes 6,000+ stocks and 300+ ETFs. You won’t find this offering on any of the other platforms. So, if you plan to add a couple of investment products to your portfolio, this is the best service provider for you.
As if that isn’t impressive enough already, eToro has a proprietary crypto exchange and digital wallet. You can purchase and sell over 100 cryptocurrencies on the eToro exchange, including Bitcoin and Ethereum. Additionally, you can use the eToro Money digital wallet to store, send, and receive a wide variety of digital coins and tokens.
eToro
✔ User-friendly trading platform
✔ Over 6000 trading instruments
An all-encompassing library of educational materials
Cons
AU$10 monthly inactivity fee
Higher spreads than other top providers
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
We discovered that eToro allows users to trade and invest in global markets. You can go long or short in a single portfolio. Overall, there are more than 6,000 instruments, which are spread across multiple classes. Investment options are stocks, which allow you to buy and take ownership of global stocks across various sectors. Fractional share purchases are also supported at eToro. This will enable you to fill your portfolio with leading stocks from global exchanges. ETFs are also other investment assets at eToro.
When it comes to CFD trading, this broker offers it with flexible leverage limits for both new and professional traders. From our experience, retail traders get up to 1:30 leverage limit and professionals up to 1:400. With CFD assets, you can go long or short and speculate on both rising and falling asset prices.
That being said, here is the number of tradable assets available at eToro.
Asset Class
Number Offered
Forex
55+ currency pairs
Shares
5558+
Indices
21+
Commodities
35+
Cryptocurrencies
100+
ETFs
680+
Note that eToro also supports options trading but is limited to US clients only. You can also explore diverse non-fungible tokens (NFTs) via its Delta platform.
Disclaimer: CFD trading is risky and complex, thus not suitable for all types of traders. This is primarily due to the application of leverage attached, which can give you good profits as well as leave you with massive losses. So far, over 76% lose their money in CFD trading. That is why it is important to conduct extensive research and understand CFD trading risks before you invest your money in it.
2. Plus500 – Best Platform for CFD Trading in Australia
Plus500 is so dedicated to facilitating smooth CFD trading that it has developed one of the most user-friendly CFD trading platforms available. It’s called Plus500 CFD and is the only platform this broker offers in Australia. If you are not interested in trading CFDs exclusively, please move on to the other mini-reviews.
As a CFD trader, you’ll love your experience with this platform. That is because, first, it has an excellent range of assets- over 2,800, to be exact. Here, you’ll find CFDs on a wide variety of popular assets, from cryptocurrencies like Bitcoin and Cardano to ETFs like GLD Gold and iShares Silver. Other categories include indices, shares, commodities, and options.
While trading CFDs on your favourite assets with Plus500, you can diversify with popular currency pairs like EUR/AUD, AUD/USD, and USD/JPY. Moreover, you’ll get the opportunity to further mitigate financial losses with powerful risk management tools like Trailing Stop, Guaranteed Stop, and Close at Profit.
If CFDs won your attention recently but you’ve never interacted with them before, the Plus500 online trading academy is the best place to start. Here, you will learn what you need to know to succeed, from the definition of CFD trading to how to trade CFDs with Plus500.
Note: 82% of retail investor accounts lose money when trading CFDs with this provider.
Premium rewards for loyal clients, dedicated support
Cons
$10 monthly inactivity fee
High spreads and overnight fees
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
From our analysis, we discovered that the Plus500 trading platform lists over 2,800 assets. These assets are spread across various classes, including forex, shares, indices, commodities, cryptos, options, and ETFs. For most regions, Plus500 supports CFD trading across the featured assets. Real stock trading is available on the Plus500 Invest platform, while futures trading is only available for US citizens on the Plus500 Futures platform.
Let’s break down the number of Plus500 product selections.
Asset Class
Number Offered
Forex
60+ currency pairs
Shares
1900+
Indices
29+ global stock indices
Commodities
24+
Cryptocurrencies
19+
ETFs
96+
Note that options trading at Plus500 is offered on a few stock CFDs and stock index CFDs. Thematic indices like the Cannabis Index are also available for traders.
Disclaimer: CFD trading is complex and highly risky, considering the application of leverage attached. We have witnessed over 76% of retail traders lose their money in CFD trading. It may not be a suitable activity for you. Therefore, ensure you understand how CFD trading works and the risks involved.
3. Pepperstone – Best Platform for Active Australian Traders
As an active trader, I’ve learned the hard way that choosing the right platform can make all the difference. I’ve interacted with several unfitting service providers in the past, and multiple issues, especially high costs and slow execution, significantly undermined my experience and profitability. Avoid these issues and their aftermath by trading with Pepperstone.
The first factor that makes Pepperstone the best platform for active traders is low costs. This service provider has some of the lowest spreads and commissions in the industry. Imagine trading major currency pairs like AUD/USD and USD/CAD and enjoying spreads as low as 0 pips. That’s right! You can also diversify your portfolio with assets like Australian share CFDs, which come with a super low commission per side of only 0.07%.
And while trading the assets offered by Pepperstone, your orders will be executed promptly, which is crucial to your success as an active trader. This platform’s execution speed is an astounding 30ms, so rest assured your profit margins won’t be undermined by high slippage or unnecessary delays.
Not to forget, Pepperstone has an exemplary array of trading platforms. I trade with this broker often because it supports two of my favourite tools: MT4 and MT5. Sign up with it today and start leveraging the fantastic features offered by these powerful platforms. You’ll also get the chance to use powerful charting tools courtesy of cTrader and TradingView.
Pepperstone
✔24/7 support service
✔User-friendly and navigable platform
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.
At Pepperstone, we discovered over 1,200 CFD and spread betting assets. The securities are in different classes, including shares, commodities, forex, indices, ETFs, and cryptocurrencies. Unfortunately, some assets like options are missing.
As we previously mentioned, there are two types of trading accounts, namely Razor and Standard, with which you can explore these securities. We also noticed that Pepperstone supports leverage trading on its featured securities. Retail traders will enjoy limits up to 30:1, while professionals are eligible for limits up to 400:1. This allows you to manage larger trades with a small capital, thus maximizing your chances of earning huge profits.
That being said, let’s break down the number of asset offerings at Pepperstone.
Asset Class
Number Offered
Forex
97+ currency pairs
Shares
1000+
Indices
23+
Commodities
40+
Cryptocurrencies
30+
ETFs
48+
Disclaimer: Spread betting and CFD trading have the application of leverage attached to them. Therefore, while the activity can magnify your returns, losses are inevitable. To avoid incurring massive losses with CFD trading, understand how it works plus all the risks involved. Plus, only risk funds you are comfortable losing, considering that over 76% of retail traders lose money in this activity.
4. FP Markets – Best Forex Trading Platform in Australia
My gift to avid forex traders is FP Markets, a broker headquartered in Sydney, Australia. Its platform has over 60 currency pairs you can trade today, from AUD/CAD and AUD/CHF to USD/ZAR, NZD/USD, and GBP/DKK. Many of the available FX pairs’ spreads start at 0 pips, a deal that most of this broker’s competitors don’t offer. Besides, FP Markets stands out among forex brokers.
Before you start trading currency pairs with FP Markets, you’ll get the opportunity to choose an account that suits you. You can open a Standard account, which has zero commission and spreads from 1.0 pips, or opt for a Raw account, with spreads as low as 0 pips and AU$3 commission per side. If you are a professional, you can open a Pro account and get everything you need to shine, including a personal account manager and higher leverage options of up to 1:500.
When trading forex pairs with this provider, you’ll have unlimited access to its Forex Calculator. This exceptional tool helps you calculate value per pip in your base currency, which is indispensable in working out and monitoring the risk of each trade. You can also use it to calculate margin requirements, interest rates, and projected profit/loss.
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
There are more than 10,000 CFD instruments at FP Markets across various asset classes. These include forex, shares, commodities, cryptos, and more. The best element about exploring these securities is that you have access to multiple platforms to choose from. Whether you prefer the MT4, MT5, cTrader, or TradingView, FP Markets has it all for you. You are guaranteed quality resources to maximize your potential.
When it comes to leverage applications, FP Markets has favorable limits for all types of traders. Retail traders can get up to 30:1, while professionals get 500:1. Moreover, we discovered multiple account types to suit every trader’s needs.
Here is a breakdown of the number of assets you will trade at FP Markets Standard, Raw, and Iress accounts.
Asset Class
Number Offered
Forex
70+ currency pairs
Shares
10000+
Indices
19+
Commodities
12+
Cryptocurrencies
12+
ETFs
46+
Bonds
2+
Futures
7+
Disclaimer: CFD trading is risky, especially with the application of leverage attached. While many traders earn good profits from it, it can leave you with massive losses should a trade work out against you. Therefore, start by understanding CFD trading and all the risks involved before venturing into such securities. Remember, over 76% of retail traders lose money in CFD trading.
5. AvaTrade – Best Trading Platform in Australia for Beginners
I was once a noob; and so was every single trader in the industry. This is nothing to be ashamed of. But if you are not careful, your beginner phase might be a terrible disaster that will make you shun trading for good. I know that for a fact because I almost quit a few days after trying my hand at trading, courtesy of a lineup of successive losses. My predicament was caused by one major culprit: insufficient knowledge.
Don’t let ignorance wipe out your capital and make trading a waking nightmare. Let AvaTrade, the best trading platform in Australia for beginners, help you out. Visit the broker’s free online academy, Ava Academy, and learn all the fundamentals before risking money. Here, you’ll find courses and other materials that will introduce you to crucial topics like how to trade the most common financial assets, leverage effective strategies, and manage risk.
Although Ava Academy is a one-stop shop, you should consider topping up the knowledge you acquire from its resources. YouTube has countless free tutorials you can start with. After soaking in as much information as your brain can hold, open an AvaTrade demo account and put everything into practice. Test your comprehension, strategies, and discipline. If you find any of these aspects wanting, work on your shortcomings and keep practising until you’re ready.
After gathering enough knowledge and skills, shift to live trading. Since this is where you can lose a truckload of your hard-earned cash, I urge you to manage your risk exposure with the tools accessible to AvaTrade users, especially Guardian Angel and AvaProtect. Guardian Angel will help you identify and rectify your mistakes, and AvaProtect will protect each specified position from losses of up to $1 million.
AvaTrade
✔Regulated by FCA
✔The platform supports algorithmic trading
Premium risk management tools, including AvaProtect
MT4, MT5, and other excellent software
Supports social and copy trading
Cons
High charges for dormant accounts
Higher spreads than other top brokers
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
The AvaTrade trading platform’s users have access to over 1,250 financial instruments, from forex pairs and indices to commodities, options, ETFs, and more. Below is an overview of some of this service provider’s product offerings:
Forex: As an AvaTrade user, you can trade diverse popular currency pairs, like EUR/USD, CAD/JPY, and USD/TRY. You can also boost potential returns with leverage of up to 400:1.
Commodities: From crude oil to silver, corn, and platinum, countless commodities are available on the Ava trading platform. They have competitive spreads and juicy leverages for individuals who want to access larger positions with small capital.
Cryptocurrencies: With an AvaTrade account, you can trade crypto CFDs like BTC/USD, Ripple, and Bitcoin Gold. These assets have reasonable spreads starting from 0.10% over-market.
Stocks: Over 90 stocks are accessible on the AvaTrade platform, including popular products like Groupon, Apple, and Microsoft. You can trade such instruments and enjoy reasonable spreads starting from 0.13%.
ETFs: If you want to trade ETFs, AvaTrade has you covered. You’ll find numerous outstanding assets, such as the MSCI EAFE Index Fund, S&P 500 VIX Short-Term Futures ETN-Series B, and Energy Select Sector SPDR.
Indices: After opening an AvaTrade account, you’ll get uncapped access to US500, UK100, CHINA A50. The broker also allows index traders to enhance potential returns with up to 100:1.
Options: AvaTrade’s AvaOptions trading platform allows users to trade options. It’s also equipped with 13 strategies, including call spread, put spread, and straddle.
How to Start with a Trading Platform
You’ve read all the mini-reviews and picked a trading platform that matches your needs and preferences, right? Now, the only thing left is jumping in and making money. Here’s how to get started:
Step 1: Visit the platform provider’s official site
Step 2: Open a new account
Step 3: Verify your identity and location
Step 4: Make a deposit
Step 5: Trade
The first step is both simple and tricky. Go to your chosen broker’s official site to start the signup process. The tricky bit is that cybercriminals have created imposter sites that resemble those of legitimate service providers. You have to be careful and check the URL because if you fall for a fake site, you will likely put your data and money in the hands of criminals.
Once you’re at the official site, do a little window shopping. Check out the available platforms, assets, terms and conditions, etc., to determine if that provider is really the right one for you.
After confirming that you’ve picked the right service provider, start the signup process. Many have simplified this process, so you shouldn’t be overwhelmed. Just share the requested information and answer all the questions you might encounter.
While at this phase, your provider may ask you to choose either a live or demo account. If you are good to good, select the former. But if you think you need to practice first, open a demo account. You can always shift to live trading whenever you’re ready.
You’ll need to verify your new live account to unlock all features and functionalities. Verification is mandatory because it helps your broker ascertain your identity/location and curb fraud. It’s considered vital by most regulators, so avoiding it is next to impossible.
Verifying your new trading account should be quick and easy as long as you have the right documents. These include a valid photo ID and a document with your current address, like a bank statement. If you don’t have any documentation required by your chosen platform, pause verification until you acquire it.
After successful verification, your new account should be up and running. You should also be able to do several things, including depositing money. You’ll need funds to buy and sell securities, so use one of the supported payment methods to top up your account.
Remember to check the service provider’s minimum deposit threshold and the processing time of your chosen payment method.
While topping up your account, determine how much money you can lose without throwing your life off the track. That’s what you should deposit. If you are a noob, starting small is the way to go; it will save you from a potential financial carnage.
And now, the moment you’ve been eagerly waiting for: live trading! Research the markets, pick your instruments, and open as many positions as necessary. Pay heed to proper position sizing, and avoid risking more than 2-5% of your entire capital per trade. Be sure to control risk exposure with stop-loss and other tools.
I also suggest you closely monitor the market and your positions. If news that can affect your trade crops up, adjust your stop-loss and take-profit orders accordingly.
How we test
At BrokerRaters, we are on a vital mission to provide you with the information you need to invest confidently and conquer the markets. Our team will never break the trust you and millions of other traders have in us. We promise to focus on guiding you with factual information and top-tier hacks; nothing less.
That said, today’s guide focused on the best trading platforms in Australia. Rest assured that we tested each service provider with demo and live accounts before making recommendations. Our gurus also gauged each platform’s reputability and credibility with past user reviews and ratings on Google Play, the App Store, Trustpilot, and other independent sites.
Our other duty is to remind you about the risks of trading and the importance of responsible trading. Maintain discipline, never stop learning, and manage your risk exposure properly. That is your gateway to success.
Bottom Line
My job is done and dusted, and I now pass the baton to you. Use your financial goals, trading level, and experience level to choose the best trading platform Australia has to offer.
Before you go, I have to remind you that losses are common in this venture. You will lose money more than once. But you should NEVER try to recoup your losses through revenge trading. Why? The answer is simple: you will make impulsive decisions and incur more losses. If you lose a significant sum of money, take a break, cool off, and come back with a clear head.
Have you been privileged to get trading insider information? But who doesn’t want that unfair advantage? Meet your insider source, Thadeus Geodfrey. He provides insider information on anything trading. But the information he shares is not the kind that would get you in trouble with regulators. Thadeus writes on trade and investment.
With more than a decade of experience, Thadeus has an eagle eye for spotting opportunities and risks. If he tells you a specific broker isn’t to be trusted, you better believe him. He has been swimming in these trading waters long enough to spot scam brokers from afar. Thadeus’s priority is your safety as an investor or trader.
2 Replies to “Best Trading Platforms in Australia 2025”
Moby says:
I’m definitely leaning towards trying eToro or AvaTrade as they seem user-friendly and offer a lot of learning resources. Just need to be cautious and research more before jumping in. Thanks for the detailed comparison
I've been trading for 8 years and currently split between Pepperstone and Interactive Brokers. eToro might be good for complete beginners who want the social features
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I’m definitely leaning towards trying eToro or AvaTrade as they seem user-friendly and offer a lot of learning resources. Just need to be cautious and research more before jumping in. Thanks for the detailed comparison
I've been trading for 8 years and currently split between Pepperstone and Interactive Brokers. eToro might be good for complete beginners who want the social features