19 Best Stock Trading Apps In Australia For 2023 [Rated & Ranked]

You can’t build an international and Australian share portfolio on the go without access to the right mobile trading app. From supporting you with advanced trading tools to offering timely market insights, the best stock trading app can help you find, buy and sell stocks at the right time.

I don’t recommend that you get into the habit of trading on the go, as you’re more likely to make the best investing decisions when seated at your desk, having carefully weighed up your options.

I ranked and reviewed the 19 best stock trading apps below, highlighting my top choice for November 2023 so you can start your online stock trading journey today.

1. eToro.

Best overall 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.

Founded in 2007, this trading platform is great for beginner and intermediate traders because it offers an easy-to-use interface and charges $0 commissions on stocks and ETFs. It’s regulated in the EU, the UK, and Australia.

(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 allows you to save time by talking with more experienced traders on the platform, following their strategies, and copying their trades.

The brutal truth is that most beginner investors lose money when they attempt to pick stocks.

Copy trading allows you to defer stock-buying decisions to more experienced investors with a demonstrated record of success.

This ability to follow 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.

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.

Fractional ownership is also possible, with the app allowing you to buy traditionally “expensive” stocks like Tesla and Chipotle, priced at US$273 and US$2,166 in Australia as of November 2023, respectively.

I also like that eToro allows you to trade contracts for difference (CFDs) and stocks from the same trading panel. If you:

Lastly, eToro is a broker with zero-commission stock trading fees. But before you start worrying about rampant socialism in Australia, let me “reassure” you that they will charge you:

Cons.

While eToro’s simple user interface attracts beginner and intermediate traders, it is not great for advanced traders who like to perform technical analyses.

Financial market news and stock screeners are also not available.

However, it’s a minor quibble as I think getting market news from Australian independent outlets like Yahoo Finance is best.

eToro is quick to remind you about its zero-commission stock trading fees, but it does charge other fees that you need to keep an eye on:

eToro’s overall fees are comparable with those of other top trading apps in Australia. They’re not ahead or behind.

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.

Finally, eToro’s educational materials have room for improvement.

You’ll find long-form video tutorials and podcasts that offer a lot of detail but are not as great as the free and independent stock market education on YouTube.

Overall.

If you’re a beginner or intermediate Australian investor who wants to start building a portfolio of Australian and international stocks, eToro is the best trading app for you.

It offers reasonable fees, access to leverage, a huge selection of tradeable assets, an intuitive, easy-to-use interface and the option to diversify your portfolio with exchange-traded funds, forex, crypto and indices.

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
✔ 0% commissions on the purchase of stocks and ETFs
✔ Excellent social trading features
✘ Advanced traders will want better charts and technical analyses
✘ Conversion and withdrawal fees

eToro Service ARSN 637 489 466 promoted by eToro AUS Capital Limited ACN 612 791 803 AFSL 491139. Capital at risk. See PDS and TMD. Zero commission does not apply to short or leveraged positions. Zero commission means that no broker fee has been charged when opening or closing the position. Limited stock exchanges only.

How eToro Stacks Up	Score
Range Of Assets & Instruments	4.5
Commissions & Fees	4.5
Trading App	5.0
Trading Platform	4.5
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	4.4/5

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 a generous ($200 of free shares) sign-on bonus.

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.

Some investors feel uneasy about not having an individual HIN number, which is why I ranked Webull above the next best low-cost broker on this list – Tiger Brokers.

Webull follows an app-first philosophy, meaning its fully-featured mobile trading app is the centrepiece of your trading experience – not an afterthought. 

Available trading assets have a strong share and ETF focus, with a couple of interesting twists. You get access to:

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.

You’ll pay trade value x 0.0003 when buying Australian stocks, with a $4.9 minimum. 

Webull’s fees for the US market purchases are just as competitive but involve a more complex calculus:

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).

In case the fees weren’t low enough, Webull sweetens the deal by waiving commissions altogether for the first 30 days and gives you $200 worth of shares for free. See below for details.

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.

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.

Overall.

Webull Australia is the best low-cost trading app in Australia. You get a snappy, user-friendly interface, rock-bottom commissions and the peace of mind of CHESS sponsorship. 

It’s the best platform for building a medium- to long-term equity portfolio focusing on Australian and US shares and ETFs.

It allows you to build your first portfolio without any fees eating into your capital.

Beyond that, 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.

Webull is eager to expand in Australia, so it’s offering a $200 sign-on bonus.

That’s $200 of free shares just to open an account and make a deposit – but only if you sign up using the links on this page. A deal worth considering.

✔ Trade ASX, US and HK stocks, plus US options
✔ Already rock-bottom commissions waived for the first 30 days
✔ CHESS sponsorship offers 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
Market Access	4.0
Fees	5.0
Trading Platform & App	4.5
Ease Of Use	5.0
Customer Service	4.5
Research & Analysis	4.0
OVERALL	4.5

3. Interactive Brokers.

The most comprehensive trading app.

Since its inception in 1978, Interactive Brokers has become a huge securities firm, holding over $12.2 billion in equity capital and serving over 2 million active clients.

Regulated in Australia and listed on the New York Stock Exchange, it has traditionally been the best choice for advanced and algorithmic traders.

Did they succeed?

Pros.

Instead of cramming every feature under the Sun into one trading app and struggling to make it user-friendly, Interactive Brokers offers its account holders two apps (plus two trading platforms)

Mobile Apps:

Desktop Platforms:

This approach gives meets users at their skill level, and allows them to upgrade whenever they feel comfortable.

Beginner investors and traders get uncomplicated, unintimidating interfaces stripped of excessive functionality they’re not likely to use.

Meanwhile, experienced traders ready for more sophisticated trading strategies and larger trading volumes across a wider range of financial markets can jump off the deep end with IBKR’s pro-level interfaces.

Far more detailed than eToro’s and Plus500’s and about on par with Vantage, they let you formulate trading plans with deep-dives into Morningstar-powered company research complete with:

Reporting features are equally strong.

The beginner-level app and desktop platform are limited to the basics, but the advanced platforms give you a detailed view of your investing strategy with trade logs, performance summaries, cash balances, and fee summaries.

Fees, however, are both a source of joy and frustration.

You only pay fees when you trade, and these are some of the lowest in the business.

The fee structure is ridiculously complicated (and the source of frustration that I’ll talk about shortly). As a rough guide, expect to pay $8.80 for every $10,000 you trade.

Unlike eToro, which works only in USD, Interactive Brokers doesn’t lock you into a base currency.

Fractional shares are available on over 11,000 US, Canadian and Euro stocks and ETFs, making expensive assets affordable to beginner investors.

Cons.

The fee structure is complex, and I guarantee you won’t get your head around it without getting an ache. First, you get two pricing pans: tiered and fixed.

Second, different regions have different commission structures. For example, fees for Australian stocks are charged on a percentage of trade value, but US stocks are charged as a portion of each share.

Third, fees are not consistent across asset classes, and yes, those vary by geolocation, too.

This lack of consistency makes it difficult to forecast your costs.

For example, you can opt into its Stock Yield Enhancement Program, which means you will earn extra income by lending assets in your account back to Interactive Brokers.

Yes, you will get some returns, but these are likely to be an inconsequential distraction – less than 0.3% per year.

You also get access to 1 million bonds via IB’s Bond Marketplace and over 48,000 funds via its Mutual Fund Marketplace.

Be mindful of this when using Interactive Brokers.

Overall.

Interactive Brokers is a go-to choice for sophisticated traders because of its institutional-grade desktop trading platform, sophisticated stock trading apps, and rock-bottom brokerage fees.

Sadly, Australians don’t get access to copy trading features (for those, you’re better off with eToro), but I love the platform’s zero deposit, withdrawal and inactivity fees, as well as low trading fees.

Combined with strong reporting and analysis features and a huge range of assets, they make Interactive Brokers appealing to beginner investors and grizzly day traders alike.

✔ Huge range of tradeable assets
✔ Rockbottom brokerage fees
✔ Two apps and two desktop platforms
✘ Too many options
✘ Confusing fee structure

How Interactive Brokers Stacks Up	Score
Range Of Assets & Instruments	5.0
Commissions & Fees	5.0
Trading App	4.5
Trading Platform	4.5
Suitability For Beginner Traders	4.0
Suitability For Sophisticated Traders	5.0
Customer Service	4.5
Research Tools	4.0
Social Trading	1.0
Education Resources	4.0
OVERALL	4.2/5

4. Vantage.

Best stock trading app for serious CFD share traders.

Vantage was founded in 2009 and is regulated by ASIC in Australia, FCA in the UK and CIMA in the Cayman Islands.

Like Plus500, it is a global CFD brokerage offering stock, forex, precious metals and commodity derivatives.

This award-winning brokerage operates in 172 countries and has 30 offices globally.

Pros.

While Vantage offers a powerful yet easy-to-use trading app, its desktop offering is centered around the powerful MetaTrader 4 and 5 software.

While Plus500’s relatively uncomplicated proprietary platform is more geared towards beginner to intermediate traders, Vantage’s decision to use MT4 and 5 is a clear nod to the intermediate to advanced crowd.

Mind you, beginners are not abandoned by Vantage, as they have the option to use the less complex, web-based WebTrader platform.

Intuitive, gorgeous and friendly, it retains about 80% of the desktop’s functionality. You can place and edit orders while on the move to your heart’s content.

You also get access to SmartTrader tools as part of the MetaTrader suite and forex news headlines via FxStreet and FXWire Pro.

The range of tradeable assets is very comprehensive.

You get 500 US share CFDs, 50 AUS ASX share CFDs, 200 UK and hundreds of EURO share CFDs. Crypto fans will enjoy 30 crypto CFDs, while forex fans have access to 44 majors, minors and exotics.

I like that, like Plus500, Vantage is unapologetically a CFD trading platform.

While Interactive Brokers tries to be everything to everyone, and eToro is great for novice and intermediate traders using copy trading to build their portfolios, Vantage offers a platform with features and fee structure that’s ideal for CFD traders.

Speaking of fees, they’re organised according to three account options on offer:

To qualify for Vantage’s Pro account, you need to pass either an income test (net assets of $2.5 million / gross income of $250k/year for two years) or a sophisticated investor test.

Cons.

Let me reiterate – Vantage is a forex and CFD trading platform. It gives you access to a comprehensive range of share CFDs, it’s not suitable for traditional, unleveraged long-term share investing.

Even though Vantage offers social trading in other regions via ZuluTrade and DupliTrade, Australians miss out.

This is a weird decision, as plenty of other brokerages offer these 3rd party bolt-ons in Australia.

If you’re a relative beginner, you will probably start dabbling on Vantage’s Standard account, but keep in mind that it offers the least competitive fees.

Once you find your feet and get serious, the Raw account will allow you to waste less money on fees. The $1 commission per side is remarkably low, while the spreads are variable – and very competitive.

Overall.

Vantage is aimed at intermediate to advanced CFD traders – but won’t scare away relative beginners who aspire to become pros.

Vantage’s MetaTrader 4 and 5 suites are a huge selling point for people who want to get serious about trading share, ETF, commodity and bond CFDs.

While the Pro account offers even better pricing, I don’t recommend you go there unless you’re a legitimate Pro.

✔ Fantastic proprietary mobile trading app
✔ MT4, MT5, WebTrader and TradingView are included
✔ Great fee structure to suit every level of trader
✘ CFDs only – no access to underlying stocks
✘ Not for passive share investors

How Vantage Stacks Up	Score
Range Of Assets & Instruments	4.0
Commissions & Fees	5.0
Trading App	4.5
Trading Platform	4.5
Suitability For Beginner Traders	4.0
Suitability For Sophisticated Traders	5.0
Customer Service	4.0
Research Tools	4.0
Social Trading	1.0
Education Resources	4.0
OVERALL	4.0/5

Trading CFDs carries significant risks and is not suitable for everyone. You may lose your capital. Please refer to PDS and TMD on our website. AFSL no. 428901.

5. Tiger Brokers.

Good low-cost 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.

(Related: 12 Best CFD Trading Platforms In Australia).

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. Simplicity is the trading app’s key attribute.

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:

This is enough to build a reasonably diversified portfolio with exposure to a number of 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 a signup deal – you get $0 brokerage fees on ASX and US stocks within the first 90 days of signing up.

You can take advantage of it to build your first share trading portfolio and not pay a cent in fees. After 90 days, you’ll pay Tiger Brokers’ standard brokerage:

(Although this isn’t the full picture, and it can get very confusing, very quickly – I’ll explain why in a moment).

Zero inactivity fees are also a surprise, making this one of the most competitive fee structures available to Australian investors.

Tiger Brokers also regularly include secondary signup perks, like depositing $60 worth of shares in your account. at no cost to you. See their website for details.

Cons.

Tiger Brokers keeps its costs low by not issuing you a unique Holder Identification Number for your shares.

I’m not concerned because the company is ASIC-regulated and holds an AFSL, but you should do your own research to ensure you’re comfortable with your decision.

Because leveraged trading isn’t available through Tiger Brokers, you will need to switch to eToro or another equivalent if you ever decide to dabble in more advanced investing tactics.

The fees I mentioned earlier don’t include pass-through (settlement) fees. These are added to each transaction because Tiger Brokers runs its brokerage on top of the Interactive Brokers system.

These fees aren’t high, but they are different on every single exchange, and use different metrics.

For example, on the ASX, you’ll pay 0.03% of the trade.

But on US exchanges, you’ll pay three separate fees:

Any questions?

Exactly.

Most people won’t bother calculating these prior to trading, and people who dislike complexity may choose other trading apps, like eToro instead.

Overall.

Tiger Brokers is a great trading app for beginner investors who want to focus on shares and ETFs on major global stock exchanges.

Zero inactivity fees make it a great fit for people who like to buy and hold.

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.

If only the fee structure was a little simpler, Tiger Brokers would have been a contender for the #1 spot in this review.

✔ 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	3.0
Commissions & Fees	5.0
Trading App	4.5
Trading Platform	4.5
Suitability For Beginner Traders	5.0
Suitability For Sophisticated Traders	2.0
Customer Service	4.0
Research Tools	4.0
Social Trading	2.5
Education Resources	4.0
OVERALL	3.9/5

6. Plus500.

Good app for beginner and intermediate stock CFD traders.

CFD Service. Your capital is at risk.

Plus500 is a global CFD trading platform with headquarters in Israel. Listed on the London Stock Exchange, it has a solid reputation and is regulated by ASIC in Australia, FCA in the UK and CySEC in Cyprus.

Founded in 2008, it offers clients in more than 50 countries – including Australia – access to CFDs on stocks, forex, ETFs, stock indices, and more.

Pros.

Like eToro, Plus500 offers an unintimidating, intuitive trading app that allows you to make trading decisions on the fly.

The interface is clean, easy to get your head around and has a built-in live chat function, making it great for beginners.

While this feature makes Plus500 unsuitable for defensive buy-and-hold share investors, it makes it excellent for people who want to get serious about leveraged trading.

While Interactive Brokers gives you access to almost every instrument in every market under the sun, Plus500 prefers to keep its offering more tightly focused.

I prefer Plus500‘s approach, as excessive options rarely lead to tangible ROI, and instead create more distractions, analysis paralysis and FOMO.

You get access to about 2800 CFDs in total, with 70 of those being Australian stock CFDs as well as hundreds in the USA, UK, Europe, Hong Kong and Singapore.

Plus500 makes its money solely through spreads and overnight fees, so you won’t pay deposit, trading or withdrawal fees.

Spread fees vary depending on which instrument and market you choose to trade, but are in line with industry averages.

For the EUR/USD currency pair, for example, it offers a spread of 0.8 pips. 

Cons.

Let me reiterate – Plus500 is a CFD trading platform.

If you don’t want to be locked into trading CFDs only, you’re better off with eToro or Interactive Brokers instead.

Both of those brokerages allow you to buy the underlying assets while also giving you the option to trade CFDs. Plus500 specialises in the latter, but it does so very well.

You get a proprietary desktop trading platform and a mobile trading app that attempts to solve the difficult task of not intimidating beginners while satisfying the veterans.

The tools are more advanced than eToro’s, but advanced CFD traders with a thirst for deep technical analysis – especially chart analysis and economic indicators – will want more, and are better off with Vantage or Interactive Brokers.

Both Vantage and Interactive Brokers offer a range of trading apps and platforms aimed at specific demographics.

Nonetheless, Plus500 gives you access to 13 real-time charts, 20 drawing tools and 110 indicators. Some indicators can be customised.

Stop-loss orders are available but attract additional fees (gotta spend money to make money, right?).

Research resources follow a similar trend. You get news feeds, an economic calendar and client sentiment tools.

Overall.

Plus500 is one of the best trading platforms in Australia, and the best choice for people who want to get serious about CFD trading.

Ease of use, simplicity and access to a generous, but not excessive, range of instruments make Plus500 ideal for beginner and intermediate CFD traders. Advanced users, meanwhile, may be turned off by the absence of MT4 and MT5.

The absence of social trading features is a letdown, with eToro still leading the pack on that front.

As with eToro, you trade via a single proprietary trading app and a single desktop platform. Both are some of the most user-friendly platforms I’ve come across in this space.

✔ Specialises in CFD trading
✔ Great proprietary app and desktop platform
✔ Focus on beginner and intermediate CFD traders
✘ Only CFDs are available – no access to underlying stocks.
✘ Advanced traders will miss MT4 and MT5

How Plus500 Stacks Up	Score
Range Of Assets & Instruments	4.0
Commissions & Fees	4.5
Trading App	4.5
Trading Platform	4.5
Suitability For Beginner Traders	4.5
Suitability For Sophisticated Traders	3.5
Customer Service	4.5
Research Tools	4.0
Social Trading	1.0
Education Resources	4.0
OVERALL	3.9/5

81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

7. CommSec Pocket.

A surprisingly good micro-investing app.

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 it – 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.

✔ 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	4.5
Trading Platform	4.0
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

8. AvaTrade.

Good for intermediate derivative traders.

AvaTrade is a massive player in the trading app space, facilitating 2 million monthly transactions.

It is considered one of the best trading platforms in the world and is regulated by the Australian Securities And Investments Commission (ASIC).

Pros.

AvaTrade’s account opening process is impressively fast. You can start trading in minutes.

The friendly and sleek user experience doesn’t stop once you’re in. An intuitive, easy-to-use interface gives you access to four trading platforms:

The fee structure on AvaTrade favours frequent traders, and if you get stuck, the support is excellent. Available via phone, email, live chat and – yes – WhatsApp, I found it responsive and very competent.

Brushing up on your trading skills is easy. Training guides and videos, forex trade news and market analyses are all at your fingertips.

Cons.

AvaTrade trades exclusively in derivatives (CFD and forex options). Yes, it offers over 600 stock CFDs, some commodities and cryptocurrency indices, but this is a comparatively average offering in the space.

You won’t pay account, deposit or withdrawal fees, but prepare to cough up an eye-watering $50 quarterly inactivity fee – after just 3 months of inactivity.

Speaking of fees, AvaTrade’s:

Overall.

AvaTrade is a great trading app for Australian investors who intend to trade exclusively in derivatives.

Its mobile trading app will satisfy beginner and intermediate traders, but it’s slightly less advanced than apps from CMC and IC.

However, I found AvaTrade’s proprietary mobile platforms – AvaTradeGO and AvaOption – excellent.

A limited amount of tradeable assets and no option to trade CFDs and stocks can catch you off-guard, so check that the instruments you usually trade are available – prior to signing up.

✔ AUD account available for Australian traders
✔ No fees on withdrawals and deposits
✔ Some copy trading functionality
✘ High fees on dormant accounts
✘ Not aimed at stock traders

9. IG.

Good stock trading app for professional investors.

IG is one of the world’s oldest and most experienced brokers, with operations dating back to 1974. The company is listed on the stock exchange (FTSE250) and overseen by top-tier regulators, including ASIC.

With a clientele of over 313,000 traders in more than 17,000 markets worldwide, IG is the largest online stock trading platform – and one of the best.

Pros.

You won’t be surprised to find out that IG isn’t just a stock trading app. It offers 17,000 markets to trade on, across shares, commodities, crypto, bonds, forex, indices, options and, of course, ETFs.

This service is excellent for inexperienced investors as it offers a mix of fully managed, highly diversified, low-cost portfolios across a mix of commodities, bonds and stocks.

Experienced investors should tilt towards IG’s Share Dealing product. It is the best tool for creating your own diversified portfolio by studying the market, dealing shares, buying ETFs and participating in spread betting.

Users enjoy high leverage, extended trading hours on US stocks and the ability to trade on weekends.

Australians need to open a separate account if they want to trade stocks in addition to having access to CFD and forex accounts.

The IG app, like IG’s desktop interface, is intuitive, fast and crisp. Advanced search functions, a customisable interface and a 2FA login make it one of the best investment apps in Australia.

Cons.

Although IG’s mobile app is designed well, some beginners may feel overwhelmed when first using the app because of its many features, assets, and trading tools.

Also, because the trading platform offers a variety of investment types, its fee structure can be difficult to get your head around.

Overall.

IG is primarily a CFD and forex broker. It offers more research tools than Etoro because its service is primarily geared towards professional investors.

✔ Great functionality for advanced traders
✔ Mobile trading app allows advanced technical analysis
✔ Access to 12,000+ CFDs
✘ Educational content is good without being great
✘ Only CFDs are available

10. SelfWealth.

Good stock trading app for low trading fees.

Disclaimer: Your capital is at risk.

SelfWealth is a publicly listed low-cost broker that allows you to trade Australian shares for a flat $AUD 9 per trade and US shares for $USD 9.50 per trade.

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.

You get a very user-friendly trading app, but limited to stocks only. Leveraged trading and access to commodities, crypto or forex are unavailable.

✔ AUD account available for Australian traders
✔ No fees on withdrawals and deposits
✔ Some copy trading functionality
✘ Fees on dormant accounts

11. NABTrade.

Trading app with no minimum deposits. Backed by an Australian bank.

NABTrade is one of the big banks stepping into the online stock trading market, and it offers users a fairly intuitive experience.

With contingent orders and live prices, market depth and charts easily accessible from the app’s straightforward interface, trading has never been more convenient.

With this app, you can quickly check on the status of your orders, see what stocks are rising and falling, and get an overview of your trading account while remaining up-to-date with the latest news.

12. ANZ.

Good app with fixed fees. Also 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.

If you want a quick way of getting started with online investing, ANZ is ideal for streamlining the process.

With this app, you not only get access to live news and company announcements, but you can also edit your watch screens and track your portfolio.

13. GoMarkets.

Great for educational resources.

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 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. ThinkMarkets.

Great low-cost trading platform for beginners.

ThinkMarkets offers CHESS-sponsored shares and ETFs (over 3100 on the Australian stock exchange) at a flat $8/trade.

Known for its rock-bottom fee structure, ThinkMarkets offers zero monthly, transfer and account opening fees.

Smaller investors will pay an $8 brokerage fee per trade, while investors who trade more than $200,000 will have to cough up 0.05% instead.

16. Pearler.

Great app for long-term investing.

Pearler is a new trading platform founded in 2018 in sunny Sydney (before La Nina came around). It strongly focuses on usability, with one of the most gorgeous trading apps around.

Pearler’s social trading feature imitates eToro by allowing you to follow portfolios of large traders and influencers.

17. Stake.

Good trading app for buying US equities at $3 per side.

Stake has been offering US shares with zero brokerage fees since 2017.

Australian Stock Exchange trades will cost you a lowly $3, making it one of the cheapest trading apps around.

The best thing about the Stake app is its clean interface.

18. IC Markets.

Another good all-round mobile trading app for serious traders.

IC Markets is a stock trading app that was established in 2007. ASIC regulates it in Australia.

The multi-asset platform focuses on providing its clients with one of the most comprehensive trading experiences possible.

In addition, they offer competitive prices and a wide variety of free forex education tools and technical analysis.

Pros.

IC Markets offers some of the best spreads in Australia, as low as 0.0.

Raw Spread is most useful for professionals, who can take advantage of the low spreads and commissions (as little as $3.5). On Raw Spread, users can access over 60 currency pairs and quotes from 25 different pricing sources.

The straightforward trading app provides free educational materials like video tutorials, webinars, and technical analyses.

The IC Markets cTrader stock trading app is compatible with Android and iOS devices and allows you to trade stocks, ETFs, indices, metals, and forex by supporting both MT4 and MT5.

This makes it one of the fastest stock trading apps in Australia, with execution speeds of 40ms.

As far as trading platforms, you get MetaTrader 4 and 5, as well as desktop and mobile versions of cTrader.

As with most other Australian-regulated trading apps, you can access 1:30 leverage.

Cons.

IC Markets is primarily a forex broker. You get a limited range of products, but it’s enough for beginners to cut teeth.

Overall.

IC Markets is a fast trading app with a fantastic interface.

It gives you access to 100 large-cap stock CFDs as well as commodities, indices and bonds.

✔ Fast execution speeds
✔ Fantastic charts
✔ 24/7 customer support
✘ Slow live chat

19. CMC Markets.

Good trading app for advanced traders.

While eToro is geared towards newbies and intermediate traders, CMC Markets is best suited to seasoned pros.

The platform offers several advanced trading tools to help day and swing traders outperform the markets.

Pros.

CMC Markets has a much larger range of instruments than eToro. Covering almost 12,000 stock CFDs from over 23 exchanges, it offers 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.

Two trading platforms are available through CMC Markets:

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.

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, but it doesn’t do anything that Interactive Brokers can’t.

Yes, you get MT4, but you have to put up with a clunky account-opening process and a lethargic customer service.

✔ Great functionality for advanced traders
✔ Mobile trading app allows advanced technical analysis
✔ Access to 12,000+ CFDs
✘ Educational content is good without being great
✘ Only CFDs are available

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 Trade Stocks In Australia Without A Stock Trading App?

Yes. Trading apps are great for placing trades on the go, but professional investors and traders tend to spend 70% of their time on desktop platforms. These include:

2. Stock Trading App vs Web Platform: Which Is Best?

Convenience is the main reason for the rise in the popularity of trading apps. You can learn to trade and create an investment portfolio while commuting or waiting for your next meeting.

New research suggests that having access to the markets in your pocket may lead you to make poorer decisions.

Guardian Australia recently reported that trading via a phone app was likely to result in FOMO-driven, riskier trades.

People were more likely to chase past losses, buy assets at the top of the market and think impulsively rather than make long-term, strategic decisions.

3. Banks vs Independent Trading Platforms: Which Is Best?

Eight Australian banks offer trading platforms to retail traders and investors.

This is a misconception, as ASIC regulates all stock trading platforms in Australia. Best stock trading platforms keep client funds in a segregated account at a Tier 1 bank, away from its own operational capital.

Yes, and it must have an Australian Financial Services License (AFSL).

In any event, the trading platforms provided by Australian banks are:

As of November 2023, there are also at least 20 independent online brokers operating on the Australian market, 14 of which ended up in this review:

4. Is Stock Trading Legal In Australia? Is it Safe?

Australians are free to trade stocks without restrictions, as long as the broker they use is licensed in Australia.

5. What’s The Difference Between Stocks And CFD Stocks?

If you trade stocks, you own the corresponding asset. Your potential profits are only limited to how much the stock prices increase.

In contrast, CFDs are speculative products that leverage your investment, allowing you to bet on the price movement of various assets without owning them.

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.

Although these reasons might make you second-guess trading online stocks in the US, there are also advantages to doing so.

7. What Is The Best Stock Trading App For Beginners?

eToro is the best beginner stock trading platform in Australia.

Which Stock Trading App Has The Best Features And Lowest Fees?

A trading app is a portal that buys and shares on the share market – on your behalf. Simple enough, right?

While they all share this feature, they differ in other minor details. If you want to geek out, here they all are.

Stock Trading App	Minimum Deposit (US$)	Demo Account?	Mobile App Score	Days To Open An Account
eToro	$50	Yes	4.8/5	1
CMC Markets	$0	Yes	4.7/5	1-3
IC Markets	$200	Yes	4.6/5	1
AvaTrade	$100	Yes	4.5/5	1
IG	$250	Yes	4.3/5	1-3
SelfWealth	$500	Yes	4.3/5	1-4
CommSec	$500	No	4.2/5	2-5
NabTrade	$500	No	4/5	Unclear
ANZ	$500	No	4/5	1-2

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) somehow. Here’s how they do it – and what you should watch out for.

Stock Trading App	Deposit Fee	Ongoing Fee	Withdrawal Fee	Inactivity Fee	Brokerage Fee
eToro	$0	$0	$5	$10 after 12 months	$0
CMC Markets	$0	$0	$0	$15 after 12 months	$0
IC Markets	$0	$0	$0	$0	Yes
AvaTrade	$0	$0	$0	$50 after 3 months, $100 after 12 months	Yes
IG	$0	$0	$0	$0	Yes
SelfWealth	$0	$20/month for SelfWealth Premium	$0	$0	Yes
CommSec	$0	$0	$0	$25/year	Yes
NabTrade	$0	$0	$0	$0	Yes
ANZ	$0	$0	$0	0.5%/year	Yes

Why Did I Decide To Discover The Best Stock Trading App?

I’m not an investing guru.

At the start of 2023, I made surplus cash in one of my businesses (hooray!).

Instead of blowing it on a new car, I put it into shares.

I chose NABTrade because it seemed like an option that would entail the least amount of 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.

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 It Have CHESS Sponsorship?

CHESS electronically registers the ownership of your shares 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 It Intuitive?

Choose an app with a user-friendly interface to make things easier, especially if you’re a beginner.

3. Is The Customer Service Any Good?

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:

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:

6. What Are The Brokerage Fees Like?

Compare brokerage fees because they can vary significantly.

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.

Quick Comparison Of Best Australian Stock Trading Apps.

How does my #1 recommended stock trading app in Australia, eToro, compare with its main competitors? Let’s find out.

eToro vs IC Markets.

eToro vs AvaTrade.

Steven