14 Best Share Trading Platforms In Australia For 2025 Compared

The Australian stock trading landscape has evolved significantly in the last few years. Dozens of online share trading platforms, aimed at experienced traders and novice investors alike, compete for your attention.

They lure you with reduced or nonexistent commissions, advanced trading features, multiple account types, and a huge range of tradeable assets.

Which platforms offer you the best value, and which ones ply you with a thick layer of marketing BS?

Here’s my list of the 14 best share trading platforms in Australia for 2025, ranked from best to worst. Choose one and start your international share trading journey today.

1. eToro.

The best share trading platform for social trading.

eToro took out the #1 spot in my review of best trading platforms in Australia because it has a fantastic user interface, a huge range of tradeable assets and class-leading social trading features.

You can use these features to follow, interact with, and copy the strategies of more experienced traders. But I’m getting ahead of myself.

(Related: eToro Review: Pros, Cons, Fees & Ugly Details).

Pros.

eToro excels at catering to two types of users:

eToro’s proprietary desktop trading platform and mobile app are remarkably friendly and easy to figure out.

In my experience, both do a fantastic job of not scaring off novices while providing sufficient research and reporting features to reasonably experienced users.

Copy trading features are some of the best in the game:

Because practising with Monopoly money is fun and inconsequential, eToro provides a free demo trading account with $100,000 in virtual funds.

eToro offers 101 crypto coins and gives you access to thousands of ASX, US, UK, and Euro stocks and ETFs.

Cons.

Etoro’s main downside is its higher-than-average fees.

First, you’ll pay $2 per side when buying stocks. This is almost a trivial amount, but will add up if you have a habit of opening and closing positions.

Because eToro’s base currency is USD only, you must convert all of your Aussie dollars, copping a 1.5% fee in the process.

In net terms, this translates to about 3% in fees on all stock and ETF purchases forever.

Finally, the non-trading fees will also sting if you have a (bad) habit of making frequent withdrawals and/or going MIA from trading for long periods:

Overall.

eToro is my top pick for investors who want to dabble in copy and social trading. Its intuitive WebTrader platform and a sea of tradeable assets make it a compelling proposition.

Ultra-experienced traders and investors can use eToro to make extra commissions by allowing novices to copy their moves.

But beginner and intermediate investors who want a no-frills, low-cost trading platform should consider Webull (see below).

✔ Copy trading features and Smart Portfolios
✔ Big fat no commissions on ETFs
✔ Demo account for consequence-free practice
✘ USD base currency attracts a currency conversion fee on every trade
✘ Lack of advanced analysis tools will frustrate experienced traders

eToro AUS Capital Limited AFSL 491139. eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision. Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk. eToro AUS Capital Limited ACN 612 791 803 AFSL 491139. Crypto assets are unregulated and highly speculative. There is no consumer protection. You risk losing all of your capital. Refer to our Terms and Conditions. See full disclaimer. eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.

How eToro Stacks Up	Score
Market Access	4.5
Fees	4.0
Trading Platform & App	4.0
Ease Of Use	5.0
Customer Service	4.5
Research & Analysis	3.5
OVERALL	4.3

2. Interactive Brokers.

Most comprehensive share trading platform in Australia.

Traditionally the weapon of choice for active day traders and sophisticated investors, Interactive Brokers has recently improved its features to make itself more appealing to novice and intermediate share investors and traders.

Key improvements are its simple Global Trader mobile app, an easy-to-use online Client Portal trading platform (more about them shortly) and the ability to earn up to 4.09% interest on cash balances above AU$15,000.

Founded 48 years ago in 1978, it’s a fully blown multinational brokerage firm that allows Australians to trade shares, futures, options, currencies and bonds.

(Related: Interactive Brokers Review: Pros, Cons, Fees & Ugly Details).

Pros.

Most share trading platforms offer one one-size-fits-all web-based interface and one mobile app.

Interactive Brokers, meanwhile, caters to investors of all levels by offering no less than four options.

Beginners get:

Advanced users with a thirst for pro-level features will love:

And, for socially conscious investors, there is the IMPACT platform.

All eight platforms have clear, minimalist, modern interfaces with dark and light skins.

And the research tools are excellent.

You’ll find all the usual tools like charts and candlestick graphs, but more impressively, Interactive Brokers allows you to formulate a solid trading plan with deep-dives into:

Reporting features are equally outstanding.

Professional-grade performance summaries, trade logs, cash balances, and fee summaries give you a bird’s-eye view of your investing strategy and allow you to course-correct.

Zero monthly inactivity and low brokerage fees make Interactive Brokers especially appealing to cautious buy-and-hold investors.

You get a choice of two fee pricing plans: fixed and tiered.

Both plans have some of the lowest commissions in the industry (expect to pay AU$8.80 to buy $10,000 worth of shares – and the same again to sell them), but professional and serious traders will be better off choosing tiered.

Unfortunately, the fee system gets complicated once you start trading in multiple share markets (more on this shortly).

You can set it when opening your account (AUD, USD, GBP, and EUR are available to Australian traders), but you can change it later with a few clicks.

As you’d expect from a top-tier share trading platform, you can buy fractional stocks. US, Canadian, and European shares and ETFs are also available.

Cons.

Do you know how your smartphone has dozens of features you rarely use? Interactive Brokers is a bit like that.

Apart from trading shares, currencies, commodities and stocks, you get access to:

Will you ever use these features? Possibly, though not likely.

I look at it this way – to get an edge in the heavily contested share trading industry, Interactive Brokers packed their platform with the equivalent of iPhone’s Siri and Screen Time features.

A form of distraction, even.

However, my biggest gripe with Interactive Brokers is its fee structure. It is clunky, making it difficult to forecast your costs. 

For example, trades of Australian shares are based on monthly trading volume, while trades of US, Canadian and Mexican stocks are based on brokerage fees per stock.

Remember that IB runs proprietary platforms only. Algorithmic day traders who are used to MT4 and MT5 will be disappointed.

Overall.

Interactive Brokers is Australia’s most comprehensive – trading platform.

Rock-bottom brokerage fees mean you get to keep more of your money.

In addition to trading shares, you can access hundreds of options, futures, forex, cryptocurrencies, bonds, and funds in 150 markets.

Market access is via one of IB’s four proprietary trading platforms, matched to your skill level and preference for desktop vs mobile.

Oh, and you can leverage margin loans and a bottomless inventory of research tools.

Some may never take full advantage of the platform’s features (and may even find them distracting), while others will feel right at home.

Professional day traders will love Interactive Brokers for its power, flexibility and ultra-low fees (especially once they reach high trading volumes).

Novice buy-and-hold investors will love it for the same reasons, plus zero inactivity fees and the intuitive Global Trader app.

✔ Huge range of assets
✔ Very low commissions
✘ Lots of options means lots of distractions
✘ Complex fee structure

How Interactive Brokers Stacks Up	Score
Market Access	5.0
Fees	5.0
Trading Platform & App	4.5
Ease Of Use	4.0
Customer Service	4.0
Research & Analysis	5.0
OVERALL	4.6

3. Webull Australia.

Best low-cost share trading platform in Australia.

Webull is a low-fee share trading platform that offers access to Australian shares, US shares, and options. It also offers access to shares in emerging Asian markets.

ASIC regulates the platform in Australia, while the SEC, FINRA and SIPC do the same in the United States.

Compared with Interactive Brokers, Webull offers a more limited range of features, asset classes and order types (i.e., no social trading, leveraged trading or access to crypto, commodities or forex).

Pros.

Webull is one of the few low-cost Australian trading platforms offering CHESS-sponsored shares.

The usability is excellent, with an easy-to-use, intuitive and modern web-based desktop interface and mobile app.

Australians planning to build a portfolio focused on Australian and international equities, as well as ETFs and options, will be impressed with the range of tradeable assets:

Fractional shares on US stocks and ETFs are available, giving you additional flexibility in diversifying your portfolio.

However, Webull’s biggest differentiator is its focus on low trading fees. While Superhero is the outright cheapest for ASX stocks, Webull is a clear winner for a more diversified portfolio of holdings.

And while eToro (below) slaps you with marked-up currency conversion fees, Webull does the opposite.

Thankfully, Webull’s fees are some of the lowest fees I’ve come across in the industry. Australian stocks, for example, will cost 0.0003 x trade value, with a $4.9 minimum. 

Back in August 2024, Webull reduced its commissions on ETFs to zero. Yep, zero. Both sides.

Fees on US stocks are also very competitive but harder to calculate precisely:

They add up to a sell commission of 0.00043 x volume (i.e., Webull will charge you US$4.3 to sell $10,000 of US shares).

Purchases of stocks in Emerging Asian (Hong Kong And Chinese) markets will attract the least competitive fees.

Even though the rate matches Australia’s at 0.0003 x trade volume, the transactions trigger a (relatively) hefty $15 minimum flagfall.

Plus, you’ll earn up to 4.8% on idle USD in your cash account (see T&Cs for details), a great incentive to keep your USD account funded.

And if you transfer your stocks from another share trading platform, Webull will give you some trading vouchers. The bigger the transfer, the bigger the bonus:

$Up to $19,999	$50
$20,000+	$200

To qualify for the bonus, you must keep your funds on Webull’s platform for over 90 days. Transferring your money to Webull, taking the bonus, and running away will not work.

Cons.

While Interactive Brokers offers you 8 trading platforms, Webull offers just two – a mobile and desktop trading app.

This won’t be a stumbling block for casual traders, but more sophisticated investors will likely miss having a more sophisticated trading platform available.

Unlike eToro, Webull doesn’t offer any copy or social trading features.

You get access to a “global community of traders”, but these are likely to be other retail investors looking for tips and offering advice you can’t sanity check.

Webull will give you access to margin lending as a consolation prize, but their 9.6% interest rate is hardly competitive.

Again, go elsewhere if you want to get fancy and buy assets with borrowed funds.

I’ve seen complaints about Webull’s less-than-stellar educational materials, and I agree. All you get is a blog that explains common trading terms and shows you how to perform technical analysis.

However, I don’t see it as a stumbling block, as you must not rely on brokers for your education anyway.

Besides, most share trading platforms’ training materials are publicly available. No one will stop you from trading on Webull while helping yourself to eToro’s Academy.

Overall.

Webull Australia is an excellent low-cost share trading platform. You get a user-friendly interface with a shallow learning curve, low commissions and a surprisingly powerful suite of research tools.

It’s the best platform for beginner and intermediate investors looking to build investment portfolios focusing on Australian and US shares and ETFs without paying hefty fees.

US options and Asian shares are on the menu for people with an appetite for more exotic asset classes.

Unfortunately, you miss out on copy and social trading features. If those are non-negotiable, eToro is still your best option. 

✔ Trade ASX, US, HK and Chinese stocks
✔ Ultra-low commissions with first 20 trades free
✔ CHESS sponsorship with your individual HIN
✘ No copy trading or social trading features
✘ No leveraged trading

How Webull Stacks Up	Score
Market Access	4.0
Fees	5.0
Trading Platform & App	4.5
Ease Of Use	5.0
Customer Service	4.5
Research & Analysis	3.5
OVERALL	4.4

4. Superhero.

Good share trading platform for ASX stocks and ETFs.

Superhero is one of the newer fintech disruptors, fighting for dominance in the Australian online trading market since 2020.

It competes directly with Tiger Brokers, Stake, SelfWealth and – to a lesser extent – eToro, to give you access to the share market at rock-bottom fees.

Pros.

Commitment to affordability is Superhero’s key differentiator. You pay $0 on ETF purchases (but cop $5 when you sell them) and $2 on ASX share transactions, both ways.

Start trading US shares, however, and fees will start to add up (more on this shortly).

Speaking of America, Superhero supports fractional share trading on US stocks, but not on the ASX.

This means that, instead of saving up $420 to buy one share in Microsoft, investors can purchase a fraction of a share at a current price.

The desktop user interface and the mobile app are very simple to use, while the signup process is quick and easy.

I also love the comprehensive customer support available through live chat and email.

Cons.

Unlike eToro and other online share trading platforms, Superhero doesn’t offer access to CFDs, crypto or commodities.

While this is great if you plan to build a portfolio centred around ASX stocks and ETFs, you’ll be forced to switch to a more comprehensive platform if you decide to play around with leverage or diversify.

Yes, it is true, but you’ll also cop Superhero’s high currency conversion fee of 0.65 bps.

Like Selfwealth, this is not 0.65%, as you may imagine, but 65 bps added to the spot rate. Confused? Don’t worry, you’re not alone. It works like this:

Superhero are not alone in using this method to calculate this fee (looking at you Stake and Selfwealth), but it feels unnecessarily complicated.

Superhero charges this fee in USD, which translates to almost 1% in net Aussie dollar terms. You’ll need to pay it again when you transfer your money back.

By the way, Superhero can keep its fees low because it operates on a shared HIN (custodian) model.

Overall.

You’ll get the most out of Superhero if you stick to the ASX and reduce the sting of the $2 brokerage fee by resisting the urge to make small, frequent trades.

US stock investors will be better off with a more holistic platform like eToro, which is just as easy to use and gives you access to free copy trading features.

✔ Low-fee ASX trading
✔ Pay zero brokerage fees for US fractional shares and ETFs
✔ No monthly fees
✘ Limited reporting, analysis and charting
✘ FX fee is higher than it appears

How Superhero Stacks Up	Score
Market Access	3.0
Fees	4.0
Trading Platform & App	4.5
Ease Of Use	4.5
Customer Service	4.5
Research & Analysis	3.5
OVERALL	4.4

5. Selfwealth.

Great for passive investing in stocks & ETFs.

Selfwealth is an Australian CHESS-sponsored online trading platform founded in 2012.

Since its launch, it has become popular among Australian investors due to a healthy range of Australian and international markets and rock-bottom, flat-fee pricing.

You pay a very predictable, low, $9.5 per side. But I’m getting ahead of myself. Again.

Pros.

Selfwealth’s fees are always predictable and easy to calculate – regardless of your trade size.

When you buy US shares, you’ll be charged the fee in US Dollars. When you buy Australian shares, you’ll be charged in Australian dollars. Simple.

As someone allergic to complexity, I find this fee structure a welcome breath of fresh air.

In contrast, I’ve been using (and reviewing) Interactive Brokers for almost a year, and I still haven’t fully wrapped my head around their fee structure.

To be fair, Selfwealth has fewer features than “big boy” trading apps like Interactive Brokers, eToro, IG and CMC.

I’ll talk about those shortfalls below.

The platform’s interface strikes a nice balance of simplicity and sophistication.

The mobile app allows you to place orders, create watchlists and monitor your portfolio’s performance in real-time.

As you’d expect, company research is also available within the app, and is surprisingly detailed.

Income, balance and cashflow projections will satisfy Benjamin Graham-inspired value investors among you.

Note to self:

Thankfully, the latter is also excellent, and definitely built with value investors in mind.

You get a built-in company event calendar, news, financials, ratios, basic performance charts, yield and Refinitiv buy-and-sell ratings. I’ll discuss these limitations in the “Cons” section below.

Last but not least, you get in-app live chat support. I’ve used it a few times, and it’s brilliant.

I’ve already hinted at Selfwealth’s CHESS sponsorship, but let me emphasise this feature, as cheaper Australian brokerages rarely offer it.

Selfwealth will hold in your name using a unique-to-you Holder Identifier Number (HIN).

Theoretically, this feature offers you more security than the alternative custodial model, although this topic is hotly debated online.

Cons.

Selfwealth doesn’t have every stock under the Sun.

You get access to all the main assets and quite a lot of obscure ones, but you won’t find penny stocks, brand-new IPOs or very obscure companies.

Remember that Selfwealth doesn’t offer “fancy” features like margin trading, leverage, copy trading, Euro stocks, commodities, crypto or forex.

In other words, Selfwealth is great for defensive, buy-and-hold investors interested in getting exposure to Australian and US stocks and ETFs.

While quasi-social trading feature is available (you can watch and follow portfolios of other Selfwealth members), it’s only free for 90 days, after which you’ll need to pay $29/month.

Overall.

Selfwealth is one of my favourite low-cost brokerages in Australia because of its CHESS sponsorship, clear pricing and low costs.

You don’t have to wrestle with tiers, pay pass-through fees or calculate percentages of trades.

Just pay $9.5 per trade (plus 0.6% currency conversion on US trades).

But it is a great choice for buy-and-hold investors who want to build a portfolio by investing spare cash into US and Australian stocks at the end of each month.

✔ Simple $9.5 structure
✔ Aussie owned and managed
✔ Great interface on desktop and app
✘ Free research and analysis tools could be better

How Selfwealth Stacks Up	Score
Market Access	4.5
Fees	3.5
Trading Platform & App	4.0
Ease Of Use	5.0
Customer Service	4.5
Research & Analysis	3.5
OVERALL	4.1

6. IG.

Good all-round share trading platform.

IG is another custodial broker, sitting between IC Markets and Interactive Brokers.

It offers professional-grade tools and access to a wide variety of tradable securities. However, like IC Markets, most of these are available via CFD.

The share trading platform has existed for over 50 years and has established itself as a trusted and reliable choice for traders worldwide, with offices in 18 countries, including Sydney and Melbourne.

It has amassed over 300,000 clients and offers access to an absurd number of markets (currently, 17,000+!).

Pros.

IG offers an extensive selection of financial instruments.

You can trade shares, ETFs, CFDs, futures, options, commodities, and cryptocurrency and diversify your capital evenly across them, thus minimising your risk exposure to a specific market, asset or sector.

You have IG’s in-house IGTV, Reuters financial news, an economic calendar, weekly market forecast, and daily blog updates.

Aside from that, the 60,000-strong IG community brings together fellow investors and helps them to learn from one another.

Fees are also quite reasonable.

New traders also get a fully functioning demo brokerage account with $20,000 worth of virtual assets.

The top-notch mobile trading app makes trading on the go very easy. The app is fully featured, offering desktop-like features (e.g., market analysis and auto-syncing charts), and functions properly with no bugs.

Cons.

IG charges inactivity fees and a fee for guaranteed stop orders, which kind of sucks when you consider that stop orders are free on many other trading platforms.

Last but not least, I found IG customer support slow and unresponsive, with the live chat function offline frequently during business hours.

Overall.

IG is a noteworthy online share trading platform, especially for advanced traders and definitely worth a comparison for investors using or considering Interactive Brokers.

The top-notch trading interface, competitive fees and wide availability of financial instruments are IG’s key differentiators. But the complexity of the platform could be a turnoff for newbies.

✔ Top-notch mobile trading platform
✔ Solid market research news
✔ Great demo account
✘ High fees on small trades
✘ Can get overwhelming for beginners

How IG Stacks Up	Score
Market Access	4.0
Fees	4.5
Trading Platform & App	4.5
Ease Of Use	4.0
Customer Service	4.5
Research & Analysis	4.5
OVERALL	4.3

7. IC Markets.

The low-cost forex broker expands to equities.

IC Markets is a name almost every forex trader has heard of. Famous for its low spreads and competitive product selection, it has now made the move to offer equity trading on its platform.

Pros.

IC Markets offer MetaTrader 4 and 5 as their investment platforms, which will be familiar to most and provide enough functionality for all but the most advanced traders.

However, share trading is a new feature for them, and so their live support may improve over time.

Unlike some of the newer entrants to the market, IC Markets is an established brand.

The platform has been in business for nearly 20 years, providing you with reassurance that they are financially sustainable.

Cons.

Their equity selection is relatively limited, with just ASX and US stocks available, although this will likely be adequate for many investors.

Their fees are not expensive, but at $7.70 per side, they are not competitive in the current Australian market.

ASIC regulates the platform in Australia, while the company is mainly regulated by the Financial Services Authority (FSA) in the Seychelles, a tier-2 financial regulator and thus imposes less stringent regulations than a tier-1 broker.

While ASIC is a tier-1 regulator, it is notable that IC Markets is not regulated in the US or the UK, with the FCA recently warning that IC Markets was not regulated to offer its services in their jurisdiction.

✔ Solid brand reputation
✔ Great for CFD investors who want to trade shares
✘ Limited range of shares available
✘ Fees aren’t super competitive

How IC Markets Stacks Up	Score
Market Access	4.0
Fees	4.5
Trading Platform & App	4.5
Ease Of Use	4.0
Customer Service	4.5
Research & Analysis	4.5
OVERALL	4.3

8. Tiger Brokers.

Good low-fee share trading platform.

Tiger Brokers is a rapidly growing, ASIC-regulated share trading platform with over a million users worldwide and a strict focus on low fees. 

Aimed primarily at investors rather than traders, it offers a reasonably sophisticated trading platform and one of the best mobile trading apps in the business.

It appears to attempt to provide a USP, with its TigerGPT AI feature – “the first financial AI investment assistant of its kind”.

However, looking past the marketing guff, reveals that TigerGPT is based on OpenAI. This means that anyone who has the paid version of ChatGPT is unlikely to see any additional benefit from this function.

Pros.

First, it gives you access to a competitive range of assets, including ASX, HK and US shares and ETFs, plus US options.

Tiger Brokers used to offer a 90-day fee-free period (which was a great way to build a portfolio without paying any fees at all), but that was scrapped in 2024. 

You’ll pay:

This makes ASX fees very competitive, especially if you’re investing less than $20,000 a pop.

US fees switch to a per-share pricing model (hello, complexity) and attract (relatively minor) regulator fees, while the fx conversion fee of 0.55% is relatively competitive (why they insist on calling it pips I do not know).

In practical terms, this model is very cost-effective when buying expensive shares (e.g., Visa or Hubspot). You’ll rarely pay more than $2 per side.

But if you decide to buy $10,000 worth of a cheap stock like Reneo Pharmaceuticals (roughly $1.6/share – and no, this is not a stock tip), you’ll suddenly be up for $62.5.

Finally, Tiger Brokers has switched from a custodial to a CHESS sponsorship model.

 Oh, and you get a clean, attractive desktop interface and mobile app.

Cons.

Tiger Brokers has gone to great lengths to shake off some of the “Chinese brokerage” stigma and build an aura of trust around its brand. 

However, throughout 2023, Tiger Brokers has consistently landed in hot water with regulators. 

The media also reported on some eyebrow-raising staffing issues.

This is a relatively young company, and these could be nothing more than “growing pains”. Most new businesses step on regulators’ toes in their early years (remember Uber?).

Tiger Brokers’ patchy track record with regulators is the #1 reason I didn’t rank it higher in this list of best trading platforms.

Whether this track record concerns you is a decision you’ll need to make yourself, weighing it up against Tiger Brokers’ (admittedly excellent) features and fees.

Overall.

Tiger Brokers offers rock-bottom pricing and a nice user interface.

The trading platform is a great fit for investors who want to build a portfolio of ASX shares and ETFs, diversify it with some US shares and have the option to trade regularly or hold for long periods.

The range of assets is wider than what’s available on its low-cost rivals like Superhero, Pearler and Selfwealth.

If the company manages to stay out of the media and the courts throughout 2025, I’ll be happy to recommend it as one of the best share trading platforms in Australia.

✔ Easy to use platform and app with great UX
✔ Listed on the NASDAQ for improved transparency
✘ A few legal bumps

How Tiger Brokers Stacks Up	Score
Market Access	4.0
Fees	4.0
Trading Platform & App	4.5
Ease Of Use	4.5
Customer Service	4.5
Research & Analysis	4.0
OVERALL	4.3

9. Pearler.

Good share trading platform for passive investors.

Pearler is an innovative Australian online trading platform that has gained much traction since its launch in 2018.

Here’s the platform’s pitch: most investors do not beat the market over the long term, not even professionals.

Therefore, Pearler believes your best option is to invest regularly into a set asset allocation as cheaply as possible. As they say, time in the market beats timing the market.

The platform focuses on providing you with a user-friendly experience and tools to help you build a long-term passive investing stock portfolio.

Pros.

Pearler is quite easy to use. The share trading platform was designed to get out of your way and accomplishes just that.

No superficial features, needless clutter, obtrusive icons or buttons. Just a simple platform that new investors will find quite appealing.

You can set up a regular investment plan to automatically purchase shares of selected ETFs each month, so your portfolio effortlessly grows over time.

Pearler also does not charge inactivity fees, making it suitable for users who may not trade frequently.

Cons.

Pearler currently only offers access to ASX-listed shares and ETFs. This could constrain and/or turn off Australian investors who want to trade other financial instruments or access international markets.

Another potential downside of Pearler is the absence of advanced trading tools and research resources that some experienced Australian brokers might expect.

While its micro investing product offers the ability to invest with a little as $100, fees at this level can be prohibitively expensive.

This means your total fees for that year would be around 6.5% (or more than the average long-term real returns for equities).

They have put in features that allow you to build deposits before investing at a certain level to mitigate this, while balances of $5,000+ begin to have a more palatable 0.41% management fee.

Overall.

Pearler is a user-friendly and accessible trading platform primarily geared toward novice investors and those interested in long-term, passive investing.

With automated investment features, it’s an ideal next-generation trading platform for casual traders.

✔ User-friendly and intuitive UI
✔ Auto-invest feature that actually works
✘ Basic research tools
✘ Limited range of assets

How Pearler Stacks Up	Score
Market Access	4.0
Fees	4.0
Trading Platform & App	4.5
Ease Of Use	4.5
Customer Service	4.5
Research & Analysis	3.0
OVERALL	4.0

10. Stake.

Good trading platform for buying US equities.

Stake is a relatively new platform that takes pride in simplicity, as hinted at by its monochrome colour palette.

Its offering is straightforward — perfect for investors who want the bare minimum.

But in a world where brokers are battling to innovate, is simplicity enough?

Pros.

Stake offers a $3 flat trading fee on trades up to $30,000 making it a popular choice for several traders looking to save costs on trading fees.

Stake’s no-frills, monochrome layout functions seamlessly and reduces the annoying distractions and chaos you can experience with some of its competitors (yes, you NABTrade).

It’s unlikely anyone would be unhappy with Stake’s user experience.

Also, Australian shares bought on Stake are CHESS-sponsored, meaning they are registered with the ASX.

Cons.

Stake would like to think its simplicity is a selling point. However, it feels like it’s almost too simple.

You can deposit, trade, and withdraw.

That’s it.

There’s some company analysis tucked behind the ‘Stake Black’ paywall, but it’s pretty barebones.

While this is probably all most investors need, the $14 monthly subscription feels a bit of a stretch.

For a $1,000 portfolio, that’s 17% of your portfolio eaten up each year. Even for a $10,000 portfolio, 1.7% is massive – professional traders could make a career from beating the market by this amount annually.

This is also reflected in the selection of assets provide.

While you definitely don’t need the range provided by IB or IG, Stake perhaps keeps it too simple, with just two equity markets: Australia and the US.

Beyond that?

You’ll need to use a range of US-traded ETFs for more diverse exposure. It’s fine for those who want to dabble in local or US markets, but the lack of direct access to European or Asian stocks will frustrate many investors.

There is no live chat option. So, you can only contact the customer support service via email, which can take over 24 hours.

Overall.

Stake is a decent choice for traders seeking a simple and affordable way to own a few Australian stocks, but intends on majoring in US stocks.

✔ Low fees!
✔ Good rangeintendingftoamajorstruments
✘ Controversial custodial model
✘ Limited customer support

How Stake Stacks Up	Score
Market Access	3.5
Fees	4.5
Trading Platform & App	4.5
Ease Of Use	5.0
Customer Service	3.5
Research & Analysis	3.0
OVERALL	4.0

11. nabtrade.

Share trading platform for anxious people who only trust big banks.

nabtrade is a trading platform founded in 2011 and backed by NAB, one of Australia’s Big Four banks.

The platform offers access to over 10,000 stocks and ETFs at stock exchanges in Australia, the USA, Germany, Hong Kong and the United Kingdom.

Pros.

nabtrade gives you good expert analysis, market news, and company reports.

In addition to the comprehensive data, nabtrade offers integrated banking services for NAB customers, simplifying the process of transferring funds and managing investments.

You can send money back and forth without any delays.

NAB’s brand value is also hard to ignore. If you’re anxious about leaving your money with global platforms like eToro, nabtrade is a good option.

Cons.

The first disadvantage of nabtrade is its user interface, which I find more clunky than Windows 95. Compared with newer trading platforms like eToro and Superhero, it looks like it belongs in the stone age.

Small screen elements, confusing menus and a lack of a good mobile app add unnecessary friction to the process.

The second issue I have with nabtrade is its fee structure.

The 0.5% inactivity fee, triggered when you don’t make trades for 12 months, is outrageous.

The same fees on eToro, charged at $10/month, add up to $120, while low-cost brokers like Superhero and Tiger Brokers charge zero inactivity fees.

Overall.

nabtrade is a reputable trading platform suited to NAB customers who want to keep their finances under the roof of a trusted Australian institution.

Because nabtrade is backed by the National Australia Bank, you’ll sleep well knowing your money is as safe as it can be.

But you will pay for this with high fees and time lost navigating its unintuitive interface.

✔ Solid brand reputation
✔ Comprehensive research tools
✘ Clunky platform

How Nabtrade Stacks Up	Score
Market Access	4.0
Fees	3.0
Trading Platform & App	4.5
Ease Of Use	3.0
Customer Service	4.5
Research & Analysis	3.5
OVERALL	3.8

12. Bell Direct.

Bell Direct is the online broking arm of Bell Financial Group, a global financial advisory firm that has offices in Australia.

Pros.

Bell Direct firmly makes a play for offering the best customer service of all the online brokers in the market. Evidence from customers does seem to support it, with many recommending the broker, despite its limitations.

The level of market analysis and data is up there with some of the best on offer, thanks to its ties to Bell Financial Group. And, while there are cheaper data packages available, it’s still pretty reasonable.

In addition, its mobile app functions reasonably well, if not quite at the level of Stake but certainly not a nails-on-chalkboard experience.

Cons.

While it does offer some good features and the customer service will be a pleasant surprise, it’s offering is pretty limited. While a step above HSBC and Macquarie, investors are still limited to Australian-domiciled investments.

In addition, its fees are still at the top end of the market at $15.50 per trade. There is a tiered pricing model, but $10/trade on your 31^st trade is hardly going to sway day traders to the platform.

Overall.

Bell Direct’s offering is fine. If you’re happy with Australian securities and value customer service it may work for. However, it’s unlikely to be the only broker most investors will use.

13. HSBC Online Share Trading.

HSBC will be a name familiar to many reading this. One of the world’s largest banks, it returned to the Australian securities market a few years ago, via Bell Financial Group.

Pros.

For investors already banking with HSBC, its online trading account offers the ability to have a clear view of your overall financial position.

In addition, thanks to its link to Bell Financial Group, you can access sell-side analysis reports that would normally only be available to professional or full-service clients.

Taking this one step further HSBC offers a wealth of market data at a somewhat reasonable price of $10/month – which is what Stake charges just to access publically available data.

Cons.

While the above is great, HSBC is basically just the same offering as Macquarie.

It’s offers access to ASX-listed shares and Australian-domiciled mutual funds only, which is pretty limiting when the ASX makes up just 2% of the global market.

In addition, its fees are about as uncompetitive as it gets, equalling Macquarie’s $19.95.

Overall.

HSBC’s online share trading account is unlikely to appeal to the masses.

If you already have all your banking with HSBC and trade large sums relatively infrequently, then the ease of use may be worthwhile.

In addition, if you value market data and company information, then it could be worth using HSBC to make a few trades in return for their data packages.

One slight concern is how Bell Financial Group’s planned purchase of Selfwealth will impact HSBC.

Current indications are that BFG will run Selfwealth as is, while continuing to receive commissions from HSBC, but it is definitely something to keep an eye out for.

14. Macquarie Online Trading.

The so-called millionaire factory (for its employees’ benefit, mind) has joined the market of online brokers. And, why not?

They have a wealthy customer base and surely some of these people will be keen to say that not only do they bank with Macquarie, but they also invest with Macquarie as well.

For full disclosure, I do not bank with Macquarie, but I do have friends that work there that are lovely people and I’m trying hard to produce a balanced review. So here goes.

Pros.

• It’s integrated to the Macquarie Cash Management Account
• You can borrow to invest…yay!
• (Bizarrely) you can choose from four different market data packages, which is quite good, if they offered any of the other features an advanced trader would want

Cons.

• It’s really f@cking expensive at $19.90/trade
• The only support available is via the telephone during office hours.
• The data packages, while extensive, can run you up to $79/month – that’s $948 per year just for market data.

And here’s the kicker, this is just for ASX-listed equities.

Overall.

The platform is smooth and intuitive and works well. It only offers ASX stocks and has a pricing model stuck in the 90s.

3 Factors To Consider When Choosing The Best Share Trading Platform.

Don’t get distracted by shiny objects. Here are the top factors that make or break a platform.

1. Range Of Assets.

Your risk appetite is the biggest predictor of your asset needs:

This is why sophisticated investors who set out to build balanced portfolios choose trading platforms that offer access to a large range of markets.

2. Fee Structure.

Trading platforms use fees strategically to attract and repel certain types of investors. Choose a platform that best matches your trading style.

For example:

3. Ease Of Use.

Are you surprised to see this as a key prerequisite? Don’t be. You’re less likely to interact with a clunky, unintuitive platform.

Some platforms (e.g. CMC Markets) offer the well-regarded but complex Meta Trader package, while others (e.g. eToro) opt for proprietary software.

Frequently Asked Questions About Share Trading Platforms.

People have consistently asked me the following questions about trading on the Australian stock market.

What fees do Australian online brokers charge?

Fees are calculated in a variety of ways including percentages, flat rates and based on volume — which can make it harder to understand and compare costs.

Some brokers have a no-commission model, but beware that these platforms make money through fees charged on currency conversions, spreads when you apply leverage, and costs related to using your account (e.g., withdrawing money, inactivity).

Are online brokerages safe?

Thousands of Australians safely invest and trade every day using the reputable, established, and regulated share trading platforms compared in this article.

If you’re keen to directly hold your shares for added protection in case of a broker’s insolvency, you might prefer a CHESS-sponsored broker compared to a broker with a custodial model.

What Are The Risks Of Investing In Shares?

When you buy shares from an online broker, you spend money without guarantee of a return.

While Australian and international markets tend to add value over the long term (in a broad sense), individual stocks can be volatile.

Each company’s share price depends on a huge variety of macro, performance-based and consumer-led factors.

What Is CHESS Sponsorship?

CHESS stands for Clearing House Electronic Subregister System, and it’s the software the Australian Securities Exchange (ASX) uses to manage and record a change of ownership in shares when they’re bought or sold.

Your ownership is represented by a unique Holder Identification Number (HIN) you’ll receive from your broker.

How many Australians invest in the share market?

According to Deloitte, investing on the Australian Stock Exchange (ASX) puts you in good company – over 30% of Australians own assets listed on an exchange.

These include shares, bonds, ETFs, managed funds, warrants, options and futures.

Which trading platforms in Australia have the lowest fees?

The table below compares the fees of 9 share trading platforms in Australia. Remember to place these into context.

For example, look for low, percentage-based commissions if you’re a high-volume trader. Look for zero inactivity fees if you’re a passive investor.

Platform	Brokerage Fee	Tradeable Assets	Signup Bonus	Tradeable Indices
eToro	1% fee on crypto assets, 1.5% currency conversion fee, US$2 per side on stocks	Stocks, ETFs, crypto assets	None	NYSE, NASDAQ, ASX, LSE, HKEX
Superhero	$5 flat fee on ASX stocks and ETFs, $0 on US stocks, 0.5% FX conversion fee	Stocks and ETFs	$10 of Tesla stocks for $100	ASX, NYSE and NASDAQ
Tiger Brokers	0.055% or $5.5 minimum for ASX trades, 0.013 USD/share or $2 minimum for US trades	Stocks, ETFs, options and futures	$50 of fractional shares	ASX, NYSE, NASDAQ, HKEX and more
CMC Markets	From $9.90 or 0.075% for ASX trades, from US$10 or 2c per share for US trades, 0.6% FX conversion fee	Stocks, ETFs, CFDs and forex	None	ASX, NYSE, NASDAQ and more
IG	From $8 or 0.1% for ASX trades, from US$10 or 2c per share for US trades, 0.7% FX fee	Stocks, ETFs, CFDs and forex	None	ASX, NYSE, NASDAQ and more
Pearler	From $9.50 per trade for ASX stocks and ETFs	Stocks and ETFs	None	ASX
nabtrade	From $14.95 or 0.11% for ASX trades, from US$14.95 or 0.11% for US trades, up to 0.6% FX fee	Stocks and ETFs	None	ASX, NYSE and NASDAQ
Selfwealth	$9.50 flat fee per trade for ASX stocks and ETFs, $9.50 flat fee per trade plus FX fee of 0.6% for US stocks and ETFs	Stocks and ETFs	None	ASX, NYSE and NASDAQ
ThinkMarkets	From $8 or 0.08% for ASX trades, from US$9.95 or 2c per share for US trades, up to 1% FX fee	Stocks, ETFs, CFDs and forex	5 free ASX trades (T&Cs apply)	ASX, NYSE and NASDAQ

Which share trading platform in Australia is best for beginners?

Beginners should look for a trading platform that offers the following features, as a minimum:

Yes, I recommend eToro as the best platform for novice traders and investors – because it scores very highly across all of the criteria above.

HIN vs custody: does it matter?

A custodial model allows the comingling of assets under the same HIN.

Each system has its pros and cons, but I believe that separate HINs are better for serious investors – because it gives you direct ownership of your shares.

If you’re simply dabbling in share trading, or have a small portion of your net worth tied up in stocks, a custodial model is less of an issue.

Bottom Line For Choosing The Best Share Trading Platform In Australia.

In conclusion, the Australian share market offers plenty of opportunities for investors and traders.

Before you begin, learn the basics of investing – and choose a share trading platform that suits your trading style.

The perfect trading platform doesn’t exist. You must choose the best trading platform for your needs by understanding the respective strengths and weaknesses of each.

Steven