Last updated: November 4th, 2024
Skip to section
From supporting you with advanced trading tools to offering timely market insights, the best stock trading apps can help you find, buy and sell stocks at the right time.
I don’t love buying unfamiliar stock on the go, as I make the best investing decisions when seated at my desk, having carefully weighed up my options.
However, I use trading apps to increase my positions in stocks and ETFs that I already own or am familiar with.
Below are my picks for the 15 best stock trading apps available to Australian investors. I hope my insights help you start your online stock trading journey sooner.
1. eToro.
Best overall stock trading app in Australia.
If you’re looking for an easy-to-use stock trading app with great social trading features, eToro is for you.
Heavily regulated in Australia, this trading platform is great for beginner and intermediate traders because it offers excellent copy-trading features, a friendly interface with an easy learning curve and low brokerage fees (US$2 per side on stocks – more about fees below).
(Related: eToro Review: Pros, Cons, Fees & Ugly Details).
Pros.
eToro‘s key differentiator (and the #1 reason it topped my list of best stock trading apps in Australia) is its social trading feature.
It saves you time by allowing you to follow the strategies of more experienced traders. You can copy their trades and learn from their advice.
Copy trading allows you to defer stock-buying decisions to more experienced investors with a demonstrated record of success.
Following expert traders’ strategies allows you to focus on your real job (and let’s not forget family and hobbies) instead of spending your evenings doing fundamental and technical analysis.
Did You Know?
eToro offers massive incentives to experienced traders for allowing other users to copy their positions.
Choosing an experienced trader is easy. eToro scores each with a ‘risk score’ while providing insight into their trading history and patterns.
From that moment on, any trades they place will be automatically mirrored by your portfolio.
eToro’s mobile app is easy to use and available on Android and iOS. Its crisp, clean, inviting layout has the same features as the desktop app and is protected by two-factor authentication.
You can buy, sell, deposit funds and research stocks from the convenience of your mobile device.
The range of tradable assets is excellent.
Expert Tip.
eToro offers over 3000 tradeable instruments, including equities, ETFs, cryptocurrencies and options.
Fractional ownership is also possible, with the app allowing you to buy traditionally “expensive” stocks like Tesla and Berkshire Hathaway Class B, priced at about US$260 and US$460, respectively.
By the way, eToro doesn’t charge commissions on ETFs.
But before you start worrying about rampant socialism in Australia, let me “reassure” you that they will charge you:
- $2 per side when you buy individual stocks (except when you copy trades using social trading or Smart Portfolios).
- 1.5% currency conversion fee. In other words, you’ll give eToro $150 for every $10,000 you decide to invest. That’s not a trivial amount (but you can reduce it to zero using a loophole I show below).
- Other fees that I’ll cover in “Cons” below.
Cons.
While eToro’s simple user interface attracts beginner and intermediate traders, it is not great for advanced traders who like to perform sophisticated technical analyses.
Financial market news and stock screeners are also not available.
However, it’s a minor quibble, as I prefer to keep up with market news by following independent Australian outlets like Morningstar.
Expert Tip.
If you prefer a premium paid option, nothing beats the Wall Street Journal. The $204 annual subscription also gives you access to Barron’s and MarketWatch.
Remember that eToro is aimed at investors who plan to outsource the bulk of their trading decisions to expert traders, making advanced tools largely redundant.
Let’s return to eToro’s fees momentarily, as they’re both a pro and a con.
Because the app operates in USD, you’ll need to convert all your AUD deposits, copping a 1.5% currency exchange fee in the process. You’ll need to do the same on the way out.
However, I consider it a price of admission to the platform’s copy trading features, which buy me my most important asset – my time.
I’d rather invest my time into growing my businesses and career, where the long-term ROI compounds at a much greater rate.
Expert Tip.
You can get a 25%, 50% or 100% discount on the 1.5% currency conversion fee if you hit deposit thresholds of $5,000, $25,000 or $250,000, respectively.
The overall amount you’ll pay in fees to eToro will depend on your portfolio structure.
eToro is quite cheap if you create a $25,000-$250,000+ portfolio centered around Australian and US equities, as you’ll pay minimal brokerage fees, and your currency exchange fee will be reduced by 50-100%.
But if you plan to build a smaller portfolio, diversifying into commodities, options and crypto, eToro becomes more expensive, with slightly above-average fees and spreads (depending on the asset).
Crypto, for example, attracts a flat 1% fee per side.
Most crypto bros will brush this off as insignificant, due to the inherent volatility of the asset. However, this is more expensive than the 0.6% you’ll pay on a dedicated crypto exchange like Swyftx.
Other fees are insignificant. If anything, they’re designed to stop you from developing poor trading habits:
- $5 withdrawal fee (curbs the temptation to make small withdrawals).
- $10/month inactivity fee after 12 months (encourages you to keep an eye on your portfolio).
Important!
Support is nothing to complain about, but I would have preferred to see 24/7 coverage instead of 24/5.
I understand they need to mirror market conditions, but the support opening hours are synced with the central United States timezone, effectively shaving 16 hours off the support hours at the start of the work week.
Overall.
If you’re a beginner or intermediate Australian investor who wants to start building a portfolio of Australian and international stocks, and spend less time researching stocks, eToro is the best trading app for you.
It offers reasonable fees, a huge selection of tradeable assets, an intuitive, easy-to-use interface and the option to diversify your portfolio with exchange-traded funds and crypto.
Most importantly, it allows you to free up your time by leveraging the expertise of advanced traders via its copy trading features.
If you belong in that camp, you are much better off with Interactive Brokers or Vantage. But you already knew that.
✔ Easy-to-use app interface
✔ ASIC regulated
✔ Excellent social trading features
✘ Advanced traders will want better charts and technical analyses
✘ Currency conversion fees
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. See PDS and TMD.
| How eToro Stacks Up | Score |
|---|---|
| Range Of Assets & Instruments | 5.0 |
| Commissions & Fees | 4.5 |
| Trading App’s Interface | 5.0 |
| Suitability For Beginner Traders | 5.0 |
| Suitability For Sophisticated Traders | 4.0 |
| Customer Service | 4.5 |
| Research Tools | 4.0 |
| Social Trading | 5.0 |
| Education Resources | 4.0 |
| OVERALL | 4.7/5 |
2. Webull Australia.
Best low-cost trading app in Australia.
Webull is a low-fee trading app that gives you access to ASX and US shares, US options and shares from emerging Asian economies.
While it doesn’t offer anywhere near the same range of tradeable assets as eToro, it makes up for it with impossibly low fees and $0 brokerage on your first 30 days.
But is it enough to beat eToro?
Pros.
Few low-cost brokers in Australia offer CHESS sponsorship on ASX chares, and Webull is one of them.
Webull follows an app-first philosophy, meaning its fully featured mobile trading app is the centrepiece of your trading experience — not an afterthought.
Important!
Some people online mentioned that Webull only allows you to trade via its app. This isn’t true; a desktop platform is also available as of July 2024. Both are easy to use, modern and intuitive.
Available trading assets have a strong share and ETF focus, with interesting twists. You get access to:
- Australian and US stocks.
- Australian and US ETFs.
- US Options.
- Hong Kong Stocks and Chinese A-Shares.
This is a good range of assets for someone looking to build a diversified international equity portfolio (but may disappoint people who want access to crypto, forex, plus leveraged trading – I’ll come back to this in a moment).
Fees are very low – and are Webull’s main selling point.
First, as of August 2024, all ETF trades on Webull are free.
Yep, free. Both ways.
When buying Australian stocks, you’ll pay trade value x 0.0003, with a $4.9 minimum.
Practical Example.
Webull will charge you $4.9 on trades of up to about $16330. Above that, you’ll pay more. A $25,000 trade will cost you $7.5, which is dirt cheap.
Webull’s fees for the US market purchases are just as competitive but involve a more complex calculus:
- Buy orders on stocks and ETFs: trade volume x 0.00025 (i.e., you’ll pay US$2.5 to buy $10,000 of US shares).
- Sell orders trigger a couple of minor (border negligible) SEC and FINRA fees.
They add up to a sell commission of trade volume x 0.00043 (you’ll cough up US$4.3 to sell $10,000 of US shares).
US stock trades must be made in US Dollars. Your Australian Dollar deposits will convert, attracting a reasonable 50 basis point spread (about US$5 for every AU$1,000 transferred.
Expert Tip.
Commissions in Hong Kong and Chinese markets are not as competitive as they attract a substantial $15 minimum flagfall.
In case the fees weren’t low enough, Webull sweetens the deal by waiving commissions on all the first 20 trades (which expire after 90 days).
Yep, it means you can build out your portfolio and not pay a cent in brokerage fees.
Moreover, if you already own shares, Webull will give you trading vouchers if you transfer them to their platform. The more you transfer, the more you get:
| $2,000-$19,999 | $50 |
| $20,000+ | $200 |
I don’t know if many investors will find $50 to be enough motivation, but $200 to switch to Webull is certainly enticing. People with substantial stock portfolios will consider this.
Is there a catch?
Yes, you must keep your funds on Webull’s platform for over 90 days to get the vouchers. You can’t simply transfer your shares, take the cash and run.
Cons.
Webull is a no-frills stock trading app.
You don’t get any copy trading and social trading features. If those are a must, eToro is still your best bet.
But before you rush out and buy assets with borrowed funds, let me point out that Webull’s 9.6% interest rate is somewhat eye-watering.
Expert Tip.
If you want to trade on margin, consider using Interactive Brokers instead. You’ll get a better interest rate (between 5.6% and 6.6%) plus a more advanced set of trading tools. Oh, and you’ll get access to mutual funds, bonds and forex.
Last, let me say a word about Webull’s educational materials, aka “Investor Education Centre”.
They’re not as good as eToro’s “Academy”, but I don’t view this as an issue, as you must not rely on the trading platform for your education, anyway.
The trading platform gets paid more when you trade poorly (high volumes and often), so it’s not incentivised to help you succeed.
Important!
I’m not allowed to provide investing advice, but if you want to learn investing, leave me a comment below. I’ll email you details of educators I trust.
Overall.
Webull Australia is the best low-cost trading app in Australia. It offers a snappy, user-friendly interface, rock-bottom commissions, and the peace of mind of CHESS sponsorship.
You’ll pay a $4.9 (or so) fee per trade – one of the lowest in Australia, and Webull won’t insist on a minimum deposit amount.
Unfortunately, you will miss out on copy and social trading features. If those are non-negotiable, eToro is still the best.
Important!
eToro is also better if you need a bona fide multi-asset platform that will give you access to crypto, options, and UK and Euro markets.
✔ Trade ASX, US and HK stocks, plus US options
✔ Commissions waived for the 20 trades
✔ CHESS sponsorship for peace of mind
✘ No copy trading or social trading features
✘ No CFDs, forex, crypto, commodities, and no access to UK/Euro markets
| How Webull Stacks Up | Score |
|---|---|
| Range Of Assets & Instruments | 4.0 |
| Commissions & Fees | 5.0 |
| Trading App’s Interface | 4.5 |
| Suitability For Beginner Traders | 5.0 |
| Suitability For Sophisticated Traders | 4.0 |
| Customer Service | 4.0 |
| Research Tools | 3.5 |
| Social Trading | 3.0 |
| Education Resources | 4.0 |
| OVERALL | 4.2/5 |
3. Selfwealth.
Investing app with the simplest fee structure.
Selfwealth is an excellent trading app allowing you to trade Australian shares for a flat AU$9.5 per trade and US shares for US$9.50.
It’s one of the original low-cost CHESS-sponsored platforms that took off in Australia. Today, it has a base of over 100,000 clients.
Pros.
I love Selfwealth’s refreshingly simple approach to brokerage fees.
Instead of convoluting your life with tiers, percentages and multiple fees (looking at you, Webull) the investing app will charge you a flat $9.5 fee.
Every time.
The only other “cost” you need to be mindful of is the 0.6 basis point spread on AUD to USD currency exchange transfers, which you’ll need to pay when buying US shares.
In other words, about US$6 per AU$1,000 transferred.
What do you get once you pop Selfwealth’s bonnet?
Access to an excellent range of stocks and ETFs in Australia, the USA and Hong Kong. It’s a slightly smaller range than eToro’s, but always been able to find what I needed.
CHESS sponsorship on all ASX shares is standard.
You can’t do everything on the go (e.g., transferring USD to AUD must be done via the desktop platform), but you can place and cancel orders, do comprehensive company research and monitor your portfolio’s performance.
The desktop platform, by the way, is also outstanding.
Sidebar navigation could use more clarity, but the overall design is inviting and user-friendly.
Moreover, I was surprised to find a very comprehensive set of portfolio monitoring and company research tools.
Important!
Unfortunately, some of them are not complimentary (more about this problem below).
Cons.
When Selfwealth launched with its $9.5 flat fee, it was one of the cheapest CHESS-sponsored brokerages in Australia.
At the time, cheap brokerages like Webull and TigerBrokers offered lower commissions, but not CHESS.
Since the start of 2024, both Webull and TigerBrokers introduced CHESS sponsorship, eroding some of Selfwealth’s lead.
So why would you pay $9.5 per side with Selfwealth when you can pay $4.9 with Webull?
That’s a great question, and the answer is –
Selfwealth is an Australian company with headquarters in Melbourne. Webull and TigerBrokers, meanwhile, are Chinese-based companies, aggressively attempting to penetrate the Australian market.
Chinese companies are working hard to fix the “dodgy” stigma by improving their trading apps while piling on incentives such as rock-bottom trading fees.
Important!
It’s working, but there’ll always be a subset of Australians who will happily pay a few extra bucks in brokerage fees to deal with an Australian company.
Which is where Selfwealth comes in. Its fees are no longer ultra-competitive, but they’re low enough if you want to buy Strayan.
Selfwealth Premium, which includes the (admittedly excellent) Refinitiv stock research tools, used to cost $9/month. It’s now $29/month.
That’s quite a steep jump, and I’m unsure if I’d pay almost $350 per year just to manage my portfolio. If your portfolio is a few thousand bucks, this sum is absurd.
The transfer of AUD to USD is slower than I would like. It usually takes 2-3 days from the moment you deposit the funds into your AUD account.
Several times I’ve wanted to take advantage of stock price dips (e.g., Microsoft’s plunge to $389 back in May), only to realise that I didn’t have cash in my US account.
By the time the funds cleared, MSFT stock was back at $410 🙁
Apart from that, I don’t have complaints about Selfwealth. It’s the Toyota of stock trading apps – well-priced, non-pretentious, reliable and straightforward.
Important!
Remember that you’re limited to investing in stocks and ETFs only. Selfwealth doesn’t give you access to commodities, crypto or forex.
Overall.
Selfwealth is one of my favourite investing apps because I dislike unnecessary complexity.
Yes, there are cheaper investing apps out there, but not all have such clear, simple fee structures, nor are they based in Australia, nor do they have CHESS sponsorship.
However, it’s one of the best choices for defensive, medium- and long-term investors who plan to build diversified equity portfolios.
✔ Great range of equities and ETFs
✔ Simple, clear fee structure
✔ CHESS sponsorship is standard
✘ $29/month for Refinitiv is steep
| How Selfwealth Stacks Up | Score |
|---|---|
| Range Of Assets & Instruments | 4.0 |
| Commissions & Fees | 4.5 |
| Trading App’s Interface | 4.5 |
| Suitability For Beginner Traders | 5.0 |
| Suitability For Sophisticated Traders | 4.0 |
| Customer Service | 4.5 |
| Research Tools | 3.5 |
| Social Trading | 3.0 |
| Education Resources | 4.0 |
| OVERALL | 4.2/5 |
4. moomoo.
Good alternative to Selfwealth for buying ASX stocks and ETFs.
moomoo is one of the newer fintech disruptors, fighting for dominance in the Australian online trading market since 2022.
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.
moomoo’s key differentiator is its commitment to affordability. You pay a tiny $3 brokerage fee on ASX share and ETF transactions each way.
US shares and EFTs, meanwhile, attract a US$0.99 charge per order.
In case you’re new to investing, these are ridiculously low fees.
Oh, and moomoo supports fractional share trading on US stocks.
Important!
Fractional shares are useful if you want to time the purchase of a company’s stock, but don’t have enough money saved up to buy an entire share.
By the way, momooo recently upgraded from a shared HIN (custodian) model to full CHESS sponsorship, – without increasing its fees.
The desktop user interface and the mobile app are very simple, while the signup process is quick and easy.
- As someone who hates admin, I was pleasantly surprised to discover that moomoo offers a sophisticated tax reporting function.
- Instead of forcing you to wade through spreadsheets, it allows you to export pre-compiled reports that you simply pass on to your accountant.
I also love the comprehensive customer support available through live chat and email.
Cons.
Unlike eToro , moomoo doesn’t offer access to cryptocurrencies.
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 add crypto to your portfolio.
Important!
Crypto ETFs allow you to side-step this limitation, but do your research before committing – the risks and fees may not be to your taste.
Overall.
You’ll get the most out of moomoo if you stick to the ASX and resist the urge to make small, frequent trades, reducing the sting of the $3 brokerage fee.
US stock investors will be better off with a more holistic platform like eToro, which is just as easy to use and offers free copy trading features.
✔ Low-fee ASX trading
✔ No monthly fees
✘ Limited reporting, analysis and charting
| How moomoo Stacks Up | Score |
|---|---|
| Range Of Assets & Instruments | 3.5 |
| Commissions & Fees | 4.5 |
| Trading App’s Interface | 4.5 |
| Suitability For Beginner Traders | 5.0 |
| Suitability For Sophisticated Traders | 4.0 |
| Customer Service | 4.0 |
| Research Tools | 3.5 |
| Social Trading | 2.0 |
| Education Resources | 3.0 |
| OVERALL | 3.8/5 |
5. Douugh.
Investment app that allows you to consolidate your financial life.
ASX-listed Dough Douugh is not just an investing app. It’s an entire online bank, with saving, lending and investing features built in.
Pros.
Under Douugh’s bonnet, you’ll find:
- Everyday payments app, with built-in stock rewards incentive.
- Buy now, pay later platform.
- Investing app that allows you to buy US shares and dabble in one of six BlackRock-managed investment portfolios.
The three features are seamlessly integrated into the app. You link it to your bank account and use the money to make investments or everyday purchases.
The built-in pay later function deserves a special mention. Called the Spot Jar, it will, um, spot you, up to $2,000 for a flat fee of $9.99.
While it seems like a pretty good deal on paper, remember that $9.99 of $2,000 across 4 weeks translates to an effective 60% annual interest rate.
The investing side of the app allows you to set up recurring micro-investing savings plans, directing your spare cash towards diversified portfolios run by asset management giant BlackRock.
Did You know?
You can choose the level of risk (Conservative, Moderate or Aggressive) and the option to invest in sustainability-focused companies.
The share trading functionality costs $4.99 monthly after a 28-day trial ends.
Whether this is a problem will depend on the size of your portfolio. The bigger, the less problematic.
For example, if I have $1000 invested at a moderate 5%, I’ll bank $50 annually in interest payments. But the app’s $4.99 fee will add up to $60 annually, eating away all of my profits.
This is before I pay management and FX fees (see below).
Cons.
While the app claims not to charge you late fees for its Spot Jar feature, this is not technically true.
If you can’t make a payment, you can use the Snooze function to delay your upcoming repayment by 7 days for “just” $2.45.
And again, while coughing up just over two bucks may not seem like much, on an annualised, pro-rata basis, it’s quite steep.
The additional portfolio management feature costs $2.99 monthly, which becomes less problematic once you start investing larger sums.
ImportaHowever,
However, the fee you need to watch out for is the 0.99% currency conversion, which you’ll pay every time you want to invest.
For context, a rate of 0.6%-0.65% is the norm on Syfe and Selfwealth.
Don’t forget that you’ll pay this fee twice – once to buy in and once to sell.
Overall.
Douugh’s biggest claim to fame is its seamless integration of investing, everyday payments and pay-later features.
You could manage your entire financial life from within the app.
The convenience is nice, but you’ll pay higher-than-average average fees – especially if your investment portfolio doesn’t grow beyond a couple of thousand bucks.
✔ Very convenient
✔ Rewards are nice
✘ Fees stack up, especially with smaller portfolios
| How Douugh Stacks Up | Score |
|---|---|
| Range Of Assets & Instruments | 3.0 |
| Commissions & Fees | 3.0 |
| Trading App’s Interface | 4.0 |
| Suitability For Beginner Traders | 5.0 |
| Suitability For Sophisticated Traders | 2.0 |
| Customer Service | 4.5 |
| Research Tools | 2.0 |
| Social Trading | 2.0 |
| Education Resources | 3.0 |
| OVERALL | 2.9/5 |
6. Tiger Brokers.
Good low-cost share trading app.
Tiger Brokers is an online brokerage app with almost 2 million account holders and an annual trading volume of over $219B.
Founded in 2014 by Wu Tianhua, Tiger Brokers is an international trading platform with offices in Sydney, Auckland, Singapore, Beijing and New York.
The Australian Securities and Investments Commission (ASIC) regulates the company.
Pros.
Tiger Brokers is quite different from eToro. You don’t get social trading or access to forex, crypto, or CFDs — and that’s the point.
The trading app’s key attribute is simplicity.
It does fewer things but does them very well – at a cheap rate. But I’m getting ahead of myself.
First, you get access to a satisfyingly large range of markets and trading assets:
- ASX: ETFs and shares.
- NYSE: ETFs, options, and shares.
- NASDAQ: ETFs, options, and shares.
- AMEX: ETFs, options, and shares.
- HKEX: ETFs and shares.
This is enough to build a reasonably diversified portfolio with exposure to several sectors and regions.
Second, the trading app itself is very friendly. More friendly than its desktop counterpart, in fact.
You get access to market data and charting tools on the go and full compatibility with Android and Apple.
Third, Tiger Brokers wants to seduce you with regular signup deals. For example, as of June, you will get 1 Google share if you transfer your trading account from another trading platform to Tiger Brokers.
It’s not a huge amount, but free shares are free shares – right?
Tiger Brokers’ low brokerage fees also allow you to hold on to more of your money:
- 0.055% of trade value for ASX shares (minimum of AU$5.5 per trade).
- US$0.013 per US share (minimum of US$2 per order).
Zero inactivity fees are also a surprise, making this one of the most competitive fee structures available to Australian investors.
Important!
Like eToro, Tiger Brokers lets you purchase fractional shares in US companies.
Cons.
Tiger Brokers recently improved its service by introducing CHESS sponsorship on its new accounts.
If you follow my blog closely, you’ll know this was one of my consistent criticisms of the trading app throughout 2023, and I’m happy that they’ve resolved the issue.
Important!
Because leveraged trading isn’t available through Tiger Brokers, if you decide to experiment with more advanced investing tactics, you must switch to CMC Markets or an equivalent platform.
But my biggest criticism of Tiger Brokers has nothing to do with their platform.
I can’t help but notice that the company has been in trouble with the courts and regulators several times, which is unsettling.
Most legal issues occurred in New Zealand and were covered closely by mainstream media. If you’re interested, do a quick Google search.
Should you be concerned?
This is up to you to decide.
Overall.
Tiger Brokers is a great trading app for beginner investors who want to focus on shares and ETFs on major global stock exchanges.
The signup perks are nice, too.
Yes, the range of assets isn’t huge, but you’ll find that extra options become a distraction beyond a certain point.
Best investors I know follow very simple strategies by dollar cost averaging into indexes and blue chip stocks over long periods of time – and this is exactly what Tiger Brokers is great for.
I’ll gladly give them a higher score if they stay out of courts and regulators’ sights throughout 2024.
✔ Intuitive, friendly app
✔ Nice signup perks for newly funded accounts
✔ No ongoing fees
✘ Fee structure gets confusing
✘ The custodian model is not for everyone
| How Tiger Brokers Stacks Up | Score |
|---|---|
| Range Of Assets & Instruments | 3.5 |
| Commissions & Fees | 5.0 |
| Trading App’s Interface | 4.5 |
| Suitability For Beginner Traders | 5.0 |
| Suitability For Sophisticated Traders | 3.5 |
| Customer Service | 4.0 |
| Research Tools | 4.0 |
| Social Trading | 2.5 |
| Education Resources | 4.0 |
| OVERALL | 4/5 |
7. Syfe.
New stock trading app attempting to penetrate the Australian market.
Relatively new trading app on the Australian market, Syfe views itself as a “superapp”, offering “institutional-like solutions” to retail investors via its “wealth management and advice platform”.
You get a stock screener that shows company valuations and earnings momentum, to start.
Think of it as a robot-advisor that uses an AI algorithm to offer personalised investment advice.
The app wants to maximise your risk-adjusted returns.
You can dial in your preferred level of risk, and the app will provide you with stock recommendations to match it.
Expert Tip.
Unlike Selfwealth, which charges a nasty $29/month for its suite of premium advisory features, Syfe gives its goodies away for free.
Do these features work?
Look, let me put it this way.
If you built an AI algorithm that could accurately forecast stock movements, how would you spend your time:
- Building a trading app that helps other investors make money, or
- Using the algorithm to get rich yourself?
I’m not saying that the trading app’s features are without merit. Just that a free robo-adviser app will probably lose against a seasoned, well-informed, cautious investor.
What can you trade with Syfe?
Over 2,200 ASX equities and ETFs, over 10,000 US equities and ETFs, and the largest 20 crypto coins.
The app offers very reasonable trading fees:
- ASX trades under $20,000 – flat fee of AU$4.99.
- ASX trades over $20,000 – brokerage of 0.025%.
- US trades – flat fee of US$1.49 (and a 0.6% currency conversion fee)
This makes Syfe comparable with its direct competitor Tiger Brokers, and cheaper than Selfwealth.
✔ Easy-to-use and uncomplicated
✔ Phone, email, live chat support
✔ Personalised investment advice
✘ Limited to AU and US markets only
8. Revolut.
Investing app with currency exchange & money management features.
Revolut follows in the footsteps of Douugh with an attempt to create an app that allows you to do anything with your money:
- Invest (buy stocks, crypto and commodities).
- Spend (get an everyday savings account with a physical card)
- Exchange (buy foreign currency before your holiday).
- Save (round up transactions and invest, receive cashbacks, etc).
Think of Revolut as a Swiss army knife of investing apps.
Apart from a travel card and a money transfer service, your everyday spending account, plus access to 2,000 stocks and ETFs, as well as a few commodities and cryptocurrencies.
Crypto fees are steep at 1.49% per side, as is the 0.25% brokerage on equities.
✔ Very convenient
✘ Limited reporting, analysis and charting
✘ Fees are quite high compared with dedicated investing apps
| How Revolut Stacks Up | Score |
|---|---|
| Range Of Assets & Instruments | 3.0 |
| Commissions & Fees | 3.5 |
| Trading App’s Interface | 4.0 |
| Suitability For Beginner Traders | 5.0 |
| Suitability For Sophisticated Traders | 2.0 |
| Customer Service | 4.0 |
| Research Tools | 2.0 |
| Social Trading | 0.0 |
| Education Resources | 5.0 |
| OVERALL | 2.9/5 |
9. CommSec Pocket.
A surprisingly good micro-investing app backed by CBA.
CommSec has a “safe a houses” reputation in Australia and attracts a lot of beginner traders.
CommSec Pocket is the bank’s micro-investing app, allowing you to buy stocks in tiny increments, starting with $50 (although I don’t recommend doing this – the $2 per trade fee will eat up a lot of your capital).
It’s a good way to build a simple stock and ETF investment portfolio.
You can trade stocks live and get updates on the most popular stocks in Australia.
The app does not charge any inactivity or subscription fee for Aussies.
But overall, CommSec Pocket is not the best option for most Australian investors.
Expert Tip.
My motto is – if you do something, do it properly. Open an account with a fully featured trading provider like eToro instead – you’ll have more features at your disposal and pay less brokerage fees.
✔ Convenient for existing CommBank customers
✔ Invest your spare change instead of blowing it
✔ Easy to use app
✘ High fees
✘ Not for serious investors and traders
| How CommSec Pocket Stacks Up | Score |
|---|---|
| Range Of Assets & Instruments | 3.0 |
| Commissions & Fees | 3.0 |
| Trading App’s Interface | 4.5 |
| Suitability For Beginner Traders | 5.0 |
| Suitability For Sophisticated Traders | 1.0 |
| Customer Service | 4.0 |
| Research Tools | 3.0 |
| Social Trading | 1.5 |
| Education Resources | 4.0 |
| OVERALL | 3.3/5 |
10. Westpac Share Trading App.
Best if you want a trading app backed by an Australian bank.
Australian banks are not known for their innovation, but if I had to choose the least worst one, I’d pick Westpac.
Important!
If you sleep better knowing that your trading app is backed by the same level of security and financial stability as one of Australia’s most established banks, this is a great choice.
Unofficially known as the bank of choice for Australia’s wealthiest people, it strives to create products that will keep the elites happy.
Its share trading app follows this principle. Simple, clear, and easy to use, it also allows you to keep your money within the Westpac ecosystem.
If you’re transferring money from other Westpac products, expect to pay $19.95 (or 0.11%, whichever is smaller) per trade on the ASX and an eye-watering $29.95 (or 0.29%, whichever is smaller) if you’re transferring from another bank.
US stock trades are even more expensive.
NASDAQ trades are US$29.95, and NY stock exchange trades are US$19.95. These are borderline obscene figures compared with Webull’s $4.9 commission.
✔ Easy money transfers for existing Westpac customers
✔ Security of a major Australian bank
✔ Intuitive, easy-to-use trading app
✘ Very high fees
✘ No access to leverage or crypto.
| How Westpac Investing App Stacks Up | Score |
|---|---|
| Range Of Assets & Instruments | 3.5 |
| Commissions & Fees | 3.0 |
| Trading App’s Interface | 4.5 |
| Suitability For Beginner Traders | 5.0 |
| Suitability For Sophisticated Traders | 3.0 |
| Customer Service | 3.5 |
| Research Tools | 3.0 |
| Social Trading | 0.0 |
| Education Resources | 3.0 |
| OVERALL | 3.2/5 |
11. CMC Markets.
Good all-around trading app for intermediate traders.
While eToro is geared towards newbies and intermediate traders, CMC Markets is best suited to seasoned pros.
The platform offers advanced trading tools to help day and swing traders outperform the markets.
Pros.
CMC Markets offers a much wider range of instruments than eToro. It covers almost 12,000 stock CFDs from over 23 exchanges, offering Australian traders a comprehensive product.
The platform offers one of the best mobile apps on the market. Clear design, extensive research tools, as well as customisable graphs and watchlists deliver a terrific user experience.
Important!
The mobile app doesn’t fully mirror CMC Markets’ desktop interface. Only 29 of 86 technical indicators are available via mobile devices.
Two trading platforms are available through CMC Markets:
- Next Generation. Fast, well-designed and offering 80 technical indicators, 40 drawing tools and 60 candlestick patterns, it is one of the most impressive proprietary platforms available to Australian traders.
- MT4. Offers an automated trading experience, but has far fewer features overall than the Next Generation platform.
Back in March 2022, CMC announced that Australian investors would benefit from $0 brokerage fees. This applies only to one sub $1,000 purchase of Australian stock, per day.
For subsequent transactions or any transactions above $1,000, the usual $11 fee will apply.
I grabbed this screenshot from their website for you to see:
This puts CMC on a very competitive footing against all big Australian banks that offer stock trading, and means you can pay $0 in fees if you buy your positions over a few days.
| Stock Platform | Up to $1,000 | Up to $5,000 | $10,000 | $50,000 |
|---|---|---|---|---|
| CMC | $0* | $11 | $20 | $50 |
| CommSec | $10 | $19.95 | $29.95 | 0.12% |
| NABtrade | $9.95 | $14.95 | $19.95 | 0.11% |
| ANZ | $0* | $11 or 0.10% | $11 or 0.10% | $11 or 0.10% |
What about international shares? They currently offer $0 brokerage fees on shares in US, UK, Canada and Japanese markets – as long as you spend more than $1,000 per trade.
Expert Tip.
Want faster access to your money? Enable real-time payments by hooking up a Macquarie Cash Management Account to CMC Markets. The Macquarie CMA will replace the default ANZ Cash Settlement account.
Cons.
CMC Markets will charge you a $15 monthly account fee after 12 months of inactivity (but no deposit or withdrawal fees).
Though educational content at CMC Markets is robust, it lacks progress tracking, quizzes and interactive content.
Customer service is available only 24/5 (from Sunday night through to Friday night).
Opening an account also seems clunky, with many people being asked to submit multiple documents, and then waiting between 3 and 14 days to get approved.
Overall.
CMC Markets is one of the best stock trading apps in Australia for advanced traders who don’t want to be limited to stocks and ETFs.
Options, managed, funds as well as forex and CFDs on commodities, indices, trea,suries and crypto are all available.
Think of it as a Swiss Army knife of investing. CFD traders will love access to MT4 while defensive share traders will benefit from CMC’s proprietary (and excellent) CMC Markets Invest platform.
✔ Great functionality for advanced traders
✔ Mobile trading app allows advanced technical analysis
✔ Access to 12,000+ CFDs as well as shares
✘ Educational content is good without being great
✘ Account opening process can be testy
12. ANZ Share Investing App.
Good trading app, backed by an Australian bank.
Aimed mainly at ASX shares and insights, the ANZ investment app is a great way to start if you’re new to online trading in Australia.
- ANZ’s app makes it easy to trade, chart, and research when investing in shares within Australia.
If you want a quick way of getting started with online investing, ANZ is ideal for streamlining the process.
With this app, you can access live news and company announcements, edit your watch screens, and track your portfolio.
13. GoMarkets.
Great investing app for CFD traders.
GoMarkets is an online trading platform that was founded in Melbourne.
It’s an unusual brokerage in the sense that it primarily focuses on serious CFD trading (Meta Trader 4 and 5 are available!), but also gives you access to low-cost share trading.
Over 2500 shares and ETFs are available.
Oh, and you get a surprisingly good inventory of educational resources that prioritise both quality and quantity.
14. OANDA.
Great stock trading app for trading forex and CFDs.
Oanda is a broker operating since 1996 and is regulated in six tier-1 countries, including Australia.
The Oanda stock trading app offers excellent charting on both Android and iOS devices.
It has 11 customisable charts and over 65 indicators, including Bollinger Bands, Aroon, Donchian Channels, and Ichimoku Cloud.
The software can also compare currency pairs using TradingView, giving users the ability to open and close trades using Heikin-Ashi, Renko, candle, and point-and-figure chart types.
15. Saxo Markets.
Good all-round trading platform with an excellent investing app.
Saxo Markets has been offering US shares with zero brokerage fees since 1992.
Australian Stock Exchange trades will cost you a lowly $3, making it one of the cheapest trading apps around.
The best thing about the Saxo app is its clean interface.
Frequently Asked Questions About Stock Trading Apps.
Since writing this review, I have been bombarded with questions. Here are the most common ones.
1. Can I Buy Stocks In Australia Without A Stock Trading App?
Yes. Most brokerages offer a mobile trading app and a desktop share trading platform.
Important!
While mobile trading apps are great for buying shares and monitoring your portfolio on the go, in-depth company and stock research is best done on a desktop.
Apps tend to have fewer features; combined with small screen sizes, they are not ideal for studying economic calendars, charts, and company reports.
When not using a share trading app, you’re likely to trade via:
- Meta Trader 4 & Meta Trader 5. Downloadable, pro-grade, desktop trading platforms (offered by serious brokers such as Vantage, AvaTrade, IG and many others).
- Proprietary Desktop Trading Platforms. Some brokers build their own custom interfaces to offer you the right balance of sophistication and ease of use (e.g., eToro, CMC Markets).
2. Why Are Stock Trading Apps So Popular?
Convenience is the main reason for the rise in the adoption of mobile stock trading apps. You can create an investment portfolio while commuting or waiting for your next meeting.
Expert Tip.
What you gain in convenience, you lose in insights. Most trading apps lack advanced reporting features.
But research suggests that having access to the markets in your pocket may lead you to make poorer decisions.
Guardian Australia, for example, has reported that trading via a phone app is more likely to result in FOMO-driven, riskier trades.
They found that investors were likelier to chase past losses, buy assets at the top of the market and think impulsively rather than make long-term, strategic decisions.
3. Bank Apps vs Dedicated Share Trading Aps: Which Are Best?
Eight Australian banks offer trading apps and platforms to retail investors.
- They charge high brokerage fees – as much as $29.95 per trade – though many Australians accept this as the “cost of doing business” because “banks are safe as houses”.
This is a misconception, as ASIC regulates all online stock brokers in Australia.
The best of them, like eToro, Webull, Selfwealth and moomoo keep client funds in a segregated account at a Tier 1 bank, away from their own operational capital.
Furthermore, ASIC insists that all trading platforms hold an Australian Financial Services License (AFSL).
Important!
To protect your money in case your brokerage goes bust, ensure it is CHESS-sponsored (see below for details).
If you prefer to buy and sell your shares via a banking app, the following Australian banks will be happy to provide you with one:
| Bank | Investing App Name |
|---|---|
| Commonwealth Bank | CommSec |
| NAB | NABTrade |
| Bendigo Bank | Bendigo Invest Direct |
| St George | Directshares |
| HSBC | HSBC Invest App |
| Macquarie | Macquarie Trading App |
| Westpac | Westpac Share Trading App |
| ANZ | ANZ Share Trading App |
Did You Know?
Some “independent” brokerages build their platforms on top of bank infrastructure. For example, CMC Markets closely partner with ANZ Bank; their share trading platform is largely a white-labelled ANZ Bank product.
4. Is Stock Trading Legal In Australia?
Australians are free to trade stocks without restrictions as long as their broker is licensed by ASIC.
5. What’s The Difference Between Buying Shares And CFDs?
When you buy stocks, you own the corresponding asset. Your potential profits are limited by the gains in stock prices.
In contrast, CFDs are speculative products that leverage your investment, allowing you to bet on the price movement of various assets without owning them.
CFDs vs spread Betting: what’s the Difference?
The main difference between CFD trading and spread betting is that the latter is exempt from capital gains tax (CGT) in Australia.
6. What Are The Differences In Online Trading Between US And Australia?
Although the essentials of online stock trading are the same in Australia as in America, there are two crucial differences to remember when trading globally.
First, commission rates for the former are fixed, while the latter may vary depending on trade size. This can mean that a small investment will cost more money to the broker.
- Some brokers in the US do not offer after-hour trading, so you must check the details and service offerings before investing.
Although these reasons might make you second-guess trading online stocks in the US, there are also advantages to doing so.
Important!
In the United States, many brokers offer their research and guidance for free. In Australia, this type of research is often part of the commission fee or optional added extras.
7. What Is The Best Stock Trading App For Beginners?
eToro is the best beginner stock trading platform in Australia for folks who want to build multi-asset portfolios and/or dabble in copy trading.
Folks who seek the lowest possible rates, want to invest in shares and ETFs only and don’t care much for copy trading should go with Webull or Selfwealth.
8. Is The Robinhood Trading App Available In Australia?
No. The popular US share trading app, Robinhood, has no plans to launch in Australia. If you’re looking for something similar, consider Selfwealth or Moomoo.
Which Stock Trading App Has The Best Features And Lowest Fees?
A trading app is a portal that allows you to buy and sell shares on the share market. Simple enough, right?
Yes, but they differ in minor details. Here are the vital specs for the top 5 investing apps in Australia.
| Stock Trading App | Minimum Deposit (US$) | Demo Account? | Trading Platforms | Mobile App Score | Days To Open An Account |
|---|---|---|---|---|---|
| eToro | $50 | Yes | Desktop & mobile app | 4.4/5 | 2-5 |
| Webull | $0 | Yes | Mobile app only | 4.2/5 | 1-3 |
| Selfwealth | $500 | Yes | Desktop & mobile app | 4.2/5 | 1-4 |
| moomoo | $0 | Yes | Mobile app only | 3.8/5 | 2-5 |
| Tiger Brokers | $0 | Yes | Desktop & mobile app | 2.9/5 | 2-5 |
How do trading platforms make money? Well, sir – through fees, of course!
Even though some position themselves as “0% fee platforms”, they must pay their bills (and investors). Here’s how they do it – and what you should watch out for.
| Stock Trading App | Deposit Fee | Ongoing Fee | Withdrawal Fee | Inactivity Fee | Currency Conversion Fee | Brokerage Fee |
|---|---|---|---|---|---|---|
| eToro | $0 | $0 | $5 | $10 after 12 months | 1.5% on all trades (but can be discounted to 0% – see above) | US$2 on share trades only (copy trading and Smart Portfolios are exempt) |
| Webull | $0 | $0 | $0 | $15 after 12 months | About 0.6% spread on US stocks only | $0 |
| Selfwealth | $0 | $29/month for Selfwealth Premium | $0 | $0 | About 0.6% spread on US stocks only | AU$9.5 for ASX stocks, US$9.5 for US stocks |
| moomoo | $0 | $0 | $0 | $25/year | None | Yes |
| Tiger Brokers | $0 | $0 | $0 | $0 | None | Yes |
Why Did I Decide To Discover The Best Stock Trading App?
I’m not an investing guru.
Back in 2023, I made surplus cash in one of my businesses (hooray!).
Instead of blowing it on a new car, I put it into shares.
- Very mature of me, I know. (I haven’t always been like this).
- I quickly opened a NABTrade account and bought some Adobe, United and Tesla stocks. That’s a story for another day 🙁
- The process was easy enough (a couple of forms notwithstanding), but I realised I didn’t choose the best trading platform for trading international and Australian securities.
I chose NABTrade because it seemed like an option that would entail the least paperwork, as I already do all my business and personal banking with NAB.
Being the kind of guy who likes to go into deep rabbit holes about topics that interest me, I decided to learn everything about trading platforms, exchange-traded funds and mobile trading apps.
- The information on this page is the result of my research.
I examined over 20 online share trading platforms, most of which come bundled with mobile trading apps, to find the best available options in Australia.
What I Looked For In An Australian Stock Trading App.
Not all trading platforms are made equal. I discovered that when choosing the best stock trading app, it’s essential to consider the following factors.
1. Does The App Have CHESS Sponsorship?
CHESS electronically registers your share ownership with the Australian Stock Exchange. You are given a Holder Identification Number (HIN), and your shares can be traced to a specific broker.
This contrasts with the custodian model, where the trading platform owns the shares on your behalf.
If the brokerage goes down, getting your money back via a CHESS sponsorship is easier because it’s clear that you’re the owner.
2. Is The App Intuitive To Use?
Choose an app with a user-friendly interface to make things easier, especially if you’re a beginner.
Expert Tip.
The best stock trading apps have in-app tutorials that show you how to get the most out of their platforms.
3. How Is The Customer Service?
Top-notch customer service is key.
Something will eventually go wrong. When it does, you’ll feel a lot less stress if you know that support is:
- Competent.
- Within easy reach.
- In your timezone.
Expert Tip.
To test customer support, contact them via chat or email before you sign up for the app. You should receive a response within 1-2 hours, if not sooner.
4. Does It Have Low Transaction Speeds?
For any trading, but especially scalp trading, latency is a killer. Look for instant execution speeds or apps that integrate using Straight Through Processing (STP) technology.
5. Which Basic And Advanced Tools Does It Offer?
The stock trading app should give access to the following:
- Basic tools, like real-time charts, updates, and well-researched information.
- Advanced tools, like risk management and technical analysis (to help you determine your entry and exit points).
6. What Are The Brokerage Fees Like?
Compare brokerage fees because they can vary significantly.
- A trade that costs $0 at one broker might cost $100 at another.
7. Can It Send Trading Alerts?
Your chosen trading app must be able to send alerts and notifications.
8. Does It Charge Non-Trading Fees?
Watch out for sneaky fees, that have nothing to do with trading itself, as they tend to add up quickly and eat into your hard-earned profits.
- Withdrawal fees. What you need to pay when transferring money from your trading account to your bank account.
- Inactivity fees. Charged when you have not bought or sold stocks on your trading app for a specific time.
- Deposit fees. You guessed it – the money that trading platforms charge you for the pleasure of sending your money over to them. These fees vary depending on the method of transfer (i.e. bank card, bank transfer, e-wallets, etc.).
- Monthly fees. They charge you something every month … but for what exactly? No one is sure, so look for trading apps with zero monthly fees.
Thanks for stopping by. I hope my review of the best investing apps in Australia will help you start your investing journey sooner.
Steven
Hi
Would you consider advertising my website on your platform
Looking forward to hearing from you
Regards
Steve Sivathas
Hi Steve, thanks for stopping by. Unfortunately, we don’t offer advertising opportunities on our review pages at this time. Steven
You’ve incorrectly labelled some as having ‘capital at risk’ regardless of CHESS sponsorship.
Your capital is no less at risk with CommSec than with any other CHESS-sponsored trading platform.
Hi Rob, thanks for your perspective. Could you clarify what you mean please? Are you saying that a trading app’s CHESS status doesn’t affect its risk profile?
Steven
Hi, started out on Nabtrade but things I think could be better that’s not included in your review!
1: what interest rate do they give on your holding account. As I have larger amount it’s not very reasonable to not pay interest or under 1%
2: execution of trade might be instant but it can take 3working days to be able to sell them!
3: some trading companies batch your same shares purchases and average the price. Not a biggie but I like to sell and compare to what I payed for that lot!
4: reporting: if you trade frequently it would be great if the reporting batched by share and listed your gain or loss by share not a periodic list?
5: getting full ASX access while assumed is not the case with every broker, trap for beginners
Great review and thanks for going down that rabbit hole!
Thanks for stopping by and providing your perspective, Joe.
Hi Steve, will you be doing any reviews of the moomoo AU trading app/desktop anytime soon? Thanks
Hi Anthony, yes, I’ll be doing a standalone review of the moomoo trading app soon – together with Selfwealth and a few others. Stay tuned.
Just looking at getting into shares and needed an idea of what platforms to use. I found this very useful, straight to the point and clear. I now have a better understanding of what to look for, and even some clarity on what platforms to use 🙂
Sam, your comment reads suspiciously like it was written for SEO purposes, but you’re welcome anyway.
Hi Steven,
I’m interested in learning more about investing/stocks and have found your piece to be very helpful and informative. You mentioned that you would recommend some educators you trusts. Can you please email me their details.
Thanks.
Hey Nate, I’m double-checking with my solicitor whether I’m allowed to do this. Because I run a publication and don’t provide financial advice, I want to ensure I don’t break any rules.