10 Best Share Trading Platforms In Australia [No BS Review]

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.

Hoping to become your share trading platform of choice, they lure you with reduced or nonexistent commissions, advanced trading features, multiple account types, and a huge range of tradeable assets.

Here’s my list of the 10 best share trading platforms in Australia for 2024, ranked from best to worst. Choose one and start your international share trading journey today.

1. Interactive Brokers.

Best overall 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:

All four 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 best – and 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

2. eToro.

The best share trading platform for social trading.

eToro has taken out the #2 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 79 crypto coins and gives you access to hundreds 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 Service ARSN 637 489 466 operated by Gleneagle Asset Management ACN 103 162 278 AFSL 226199 and promoted by eToro AUS Capital Limited ACN 612 791 803 AFSL 491139. Investing in shares via a managed investment scheme does not result in direct ownership of the underlying assets. The scheme has legal ownership, the investor has beneficial ownership i.e. the shares are held on your behalf. As the scheme has legal ownership, you have no rights in the securities, including voting rights. Shares are non-transferable. Refer to the Product Disclosure Statement and Target Market Determination. See PDS and TMD before transacting. See full disclaimer.

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. 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, and give you additional flexibility in diversifying your portfolio.

However, Webull’s biggest differentiator is its focus on low trading fees. You’ll pay about the same fees as at Interactive Brokers (although an exact head-to-head comparison is tricky due to their different tier structures.

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. 

As of 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 5.3% 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 four trading platforms, Webull offers you just one – a mobile trading app.

This won’t be a stumbling block for casual traders and Gen Zs, but older folks and more sophisticated investors will likely miss the ability to trade via a desktop interface.

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. 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 fee structure
✔ Low brokerage fees
✔ 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	4.5
Ease Of Use	5.0
Customer Service	4.5
Research & Analysis	3.5
OVERALL	4.2

5. 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 $5 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.

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 centered 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 0.7%.

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 $5 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
✘ Custodian model is not for everyone

6. IG.

Good all-round share trading platform.

IG is another custodial broker, like TigerBrokers and Superhero, which allows it to keep its brokerage fees at rock-bottom prices.

It has existed for over 45 years and has established itself as a trusted and reliable choice for traders worldwide, with offices in Sydney and Melbourne and headquarters in London.

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.

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

7. 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
✘ No mobile app

8. Tiger Brokers.

Good low-fee share trading platform.

Who Is Tiger Brokers Best For?	Why?
Investors with a smaller budget or moderate investment volumes, keen to create a balanced stock portfolio.	Because Tiger Brokers has competitive brokerage costs and no minimum deposit amount (compared to minimums of $50-$100 on similar platforms).
Investors at all experience levels looking to hold stocks medium to long-term.	Because the platform has no inactivity or ongoing maintenance fees.
Investors looking to diversify through US stocks.	Because Tiger Brokers makes it cost-effective to own ‘expensive’ big-name stocks through fractional US shares.

Who Should Avoid Tiger Brokers?	Why?
Stock investors who also want to trade across other assets.	Because the platform differs from many standard share trading apps in not supporting forex, CFDs, indices or crypto.
Beginners looking for tips and camaraderie through a shared community.	Because most people using its app post poor quality content simply to earn ‘Tiger Coins’.
Investors serious about high-level insights to guide their decisions.	Because Tiger Brokers interface strikes a balance between ease of use and advanced tools, without being exceptional at either.

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 very attractive signup bonus, a reasonably sophisticated trading platform and one of the best mobile trading apps in the business.

Pros.

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

Second, you can take advantage of Tiger Brokers’ signup bonus by funding your account with AU$500 and getting US$50 of US fractional shares.

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. 

Beyond that, a flat fee structure of Selfwealth begins to be far more cost effective.

US fees switch to a per-share pricing model (hello, complexity) and attract (relatively minor) regulator fees.

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 $81.

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

Unfortunately, the old accounts will remain under the custodial 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?).

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 2024, I’ll be happy to recommend it as one of the best share trading platforms in Australia.

Tiger Feature	Why Should You Care?
Low Fees You Can Benefit From	0.025% commission on buying/selling ASX stocks and ETFs (or minimum of AUD$6.45 per trade). For US stocks, the cost if USD$0.0099 per share (minimum of USD$1.99 per order).
Available Markets	Australian and US shares/ETFs, HK stocks, US options and futures.
Support	Web-based help centre, email and phone available 5 days a week during business hours.
Trading Platforms	Desktop and mobile apps for iOS and Android.

✔ Easy to use platform and app with great UX
✔ Very impressive signup bonus for newly funded accounts
✔ No ongoing fees
✘ A few legal bumps

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.

The platform focuses on providing a user-friendly experience, and it is one of the best stock trading platforms for young investors just beginning their investment journey.

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.

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
✔ No inactivity fees
✔ Auto-invest feature that actually works
✘ Limited research tools

10. Stake.

Good trading platform for buying US equities.

Stake is a relatively new Australian fintech specialising in providing commission-free US stock market access.

The platform is designed for new and experienced traders looking to invest in Australian and US equities.

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.

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

This extensive selection enables users to diversify their portfolios by investing in US markets. So if you’re looking to capitalise on opportunities in the US market, you can leverage Stake’s platform.

Cons.

While Stake does trade some Australian equities, the platform focuses more on US equities, which can be limiting for traders looking to invest in other markets or asset classes.

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 solid 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

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