15 Best Stock Trading Apps In Australia For 2024 [Rated & Ranked]

4.8
(76)

(76 votes, average: 4.8 out of 5)

Choosing the right stock trading app is the first step in your investment journey. Acting as a middleman between you and the stock market, the best stock trading apps can take the friction out of buying and selling shares on the go. In this guide, I ranked and reviewed the 15 best stock trading apps in Australia, highlighting my top pick for 2024, so that you can start researching stocks, rather than endlessly trying to choose the right stock app.


Last updated: March 14th, 2024

Overall best stock trading app in Australia

eToro

eToro is great for beginner & intermediate investors because it doesn't charge commissions on stock and ETF trades, has best-in-class copy trading features, a large range of assets and a friendly interface.

Visit eToro Australia

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.

Best low-cost share trading app in Australia

Webull Australia

The intuitive trading app gives you access to hundreds of Australian, US and Asian stocks and ETFs at about $4.9 per trade, while the $50-$200 Nvidia share sign-on bonus acts as a nice sweetener.

Visit Webull Australia

Webull AFSL 536980. All forms of investment carry the risk of losing money. The value of your investments may go up or down. Your capital is at risk.

Investing app with the simplest fee structure

Selfwealth

Selfwealth stands out for its clear $9.5 fixed-fee structure. You know what their commission will be, every time. CHESS sponsorship is also great, but the optional $29/month fee for premium features isn't.

Visit Selfwealth

SelfWealth Ltd. AFSL 421789. Past performance is not a reliable indication of future performance. All financial products involve risk.

Opinions in this review are based on my personal experience with the products. Brands don’t get to offer editorial input nor see the review before it goes live, but may compensate me at no cost to you, if you choose to purchase a product on this page. Can you trust this review? Read the financial and editorial disclaimers.


Last updated: March 14th, 2024

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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 personally don’t have a habit of trading on the go, as I’m more likely to make the best investing decisions when seated at my desk, having carefully weighed up my options.

Thankfully, most trading apps I recommend allow you to trade via desktop trading platforms – except Syfe, Douugh and Revolut.

I ranked and reviewed the 15 best stock trading apps below, highlighting my top choice for 2024 so you can start your online stock trading journey today.

1. eToro.

Best overall stock trading app in Australia.

etoro stock investing app

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 doesn’t charge 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.

Did You Know?

eToro offers massive incentives to experienced traders for allowing other users 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.

You find and follow experienced traders with a proven track record and tell the trading app to copy them.

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.

Expert Tip.

eToro offers over 3000 tradeable instruments, including equities, ETFs and major cryptocurrencies.

Fractional ownership is also possible, with the app allowing you to buy traditionally “expensive” stocks like Tesla and Chipotle, priced at about US$180 and US$2,600 in Australia.

Does that sound like a lot to understand? An excellent demo account is built into the mobile app and can be accessed anytime by switching between “Real” and “Virtual” market conditions.

Lastly, eToro doesn’t charge commissions on stocks and ETFs. But before you start worrying about rampant socialism in Australia, let me “reassure” you that they will charge you:

  • 1.5% currency conversion fee. In other words, you’ll give eToro $150 for every $10,000 you decide to invest.
  • Spreads. In other words, a fee on the difference between the buy and the sell price.
  • Other fees that I’ll cover in “Cons” below.

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.

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.

Pricing charts, an economic calendar and earnings reports are available, but that’s pretty much it. Advanced users will crave MetaTrader 4, 5 (or equivalents) bundled with Vantage or Interactive Brokers (see below).

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 that it doesn’t charge commissions on stocks and ETFs, but it does charge other fees that you need to keep an eye on:

  • Withdrawal fees ($5).
  • Inactivity fees ($10 after 12 months).
  • Spreads and overnight fees.

The amount you’ll pay to eToro in fees will depend on your investing style. If you buy Australian and US stocks and ETFs, and deposit more than $25,000, it becomes quite cheap, as you won’t pay any brokerage fees, and your FX fee will be reduced by 50%.

But if you plan to diversify into CFDs, commodities and crypto, eToro becomes more expensive, as its spreads are slighly above average (depending on the asset).

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.

  • If you’re in Australia, think of it as 24/4.25 support 🙂

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.

I would appreciate it if the eToro trading app offered fast, easy-to-access answers to questions without making me scrub through hours of video.

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, 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.

This is not a platform for advanced, grizzly, die-hard day traders.

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
✘ Conversion and withdrawal 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 UpScore
Range Of Assets & Instruments4.5
Commissions & Fees4.5
Trading App’s Interface5.0
Suitability For Beginner Traders5.0
Suitability For Sophisticated Traders4.0
Customer Service4.5
Research Tools4.0
Social Trading5.0
Education Resources4.0
OVERALL4.4/5

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.

ASIC regulates it in Australia, while SEC, FINRA and SIPC keep a watchful eye on it in the United States.

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 ($50-$200 of free Nvidia 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.

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. 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.

You’ll pay trade value x 0.0003 when buying Australian stocks, 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).

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 US options altogether for the first 30 days and gives you between $50 and $200 worth of Nvidia 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.

Leveraged trading isn’t available either, but margin lending is.

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.

Keep in mind that conflicts of interest are at play here.

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. 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.

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 as well as UK and Euro markets.

Webull is eager to expand in Australia, and is offering a $50 Nvidia bonus.

Sign up, deposit $200 and make one trade to earn AU$50 in Nvidia shares. (T&Cs apply). Deposit $1,000 and hold for 30 days, and Webull will bump the bonus to $200 worth of Nvidia shares.

That’s $50-$200 of free Nvidia shares to open an account and make a relatively modest 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
✔ Commissions on US options 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 UpScore
Range Of Assets & Instruments4.0
Commissions & Fees5.0
Trading App’s Interface4.5
Suitability For Beginner Traders5.0
Suitability For Sophisticated Traders4.0
Customer Service4.0
Research Tools3.5
Social Trading3.0
Education Resources4.0
OVERALL4.2/5

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, Interactive Brokers) 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 0.6-0.65% AUD to USD currency exchange fee, which you’ll need to pay when buying US shares.

Important!

The good news is that this is a very sharp price. Even dedicated discount currency exchange apps like Wise charge about the same for their services.

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.

The mobile app is also excellent.

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 is 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.

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.

I think a “happy medium” price of $19/month would be easier to swallow.

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!

Do keep in mind 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, or have CHESS sponsorship.

This trading app is a poor choice for speculative traders who plan to take advantage of short-term market fluctuations.

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 UpScore
Range Of Assets & Instruments4.0
Commissions & Fees4.5
Trading App’s Interface4.5
Suitability For Beginner Traders5.0
Suitability For Sophisticated Traders4.0
Customer Service4.5
Research Tools3.5
Social Trading3.0
Education Resources4.0
OVERALL4.2/5

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 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. I’ll explain how moomoo achieves them in the “Cons” section below – there is a catch.

Zero account-keeping and inactivity fees also impress me, and will appeal to investors who like to buy and HODL.

Oh, and moomoo supports fractional share trading on US stocks.

Important!

Fractional shares become 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.

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 and other online share trading platforms, 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.

By the way, moomoo is able to keep its fees low because it operates on a shared HIN (custodian) model.

What you gain in low fees, you miss out on the peace of mind that comes with CHESS sponsorship, which Aussie investors increasingly expect.

Last but not least, moomoo doesn’t have any copy trading features. If this is a must-have for you, go with eToro.

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 gives you access to free copy trading features.

That said, Superhero is a great, low-cost option for novice and intermediate traders who want a straightforward and affordable way to get into the Australian share market.

✔ Low-fee ASX trading
✔ No monthly fees
✘ Limited reporting, analysis and charting
✘ Custodian model is not for everyone

How moomoo Stacks UpScore
Range Of Assets & Instruments3.5
Commissions & Fees4.5
Trading App’s Interface4.5
Suitability For Beginner Traders5.0
Suitability For Sophisticated Traders4.0
Customer Service4.0
Research Tools3.5
Social Trading2.0
Education Resources3.0
OVERALL3.8/5

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. 

The system works similarly to Afterpay; you repay the money in 4 X weekly instalments.

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. 

This is very clever marketing that reframes a late fee as a feature. 

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.

Important!

But the fee you need to watch out for is the 0.99% currency conversion fee, 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.

But do the benefits outweigh the costs?

The convenience is nice, but you’ll pay for it in higher-than 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 UpScore
Range Of Assets & Instruments3.0
Commissions & Fees3.0
Trading App’s Interface4.0
Suitability For Beginner Traders5.0
Suitability For Sophisticated Traders2.0
Customer Service4.5
Research Tools2.0
Social Trading2.0
Education Resources3.0
OVERALL2.9/5

6. Tiger Brokers.

Good low-cost share trading app.

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:

  • 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 a number of sectors and regions.

Second, the trading app itself is very friendly. More friendly than its desktop counterpart, in fact.

With fantastic UI, it is intuitive, easy to learn and runs without glitches.

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 March, you can get US$50 of fractional shares if you fund your account with AU$500.

It’s not a huge amount, but free money is free money – 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 a number of times, which is unsettling.

Most legal issues happened in New Zealand and were covered closely by mainstream media. Do a quick Google search if you’re interested.

Should you be concerned?

It’s possible that the company unintentionally stepped on the toes of a few regulators during its aggressive expansion.

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.

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.

While the product itself is great, I’m choosing to adopt a wait-and-see approach before breathlessly recommending Tiger Brokers.

If they stay out of courts and regulators’ sights throughout 2024, I’ll be happy to give them a higher score.

✔ 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 UpScore
Range Of Assets & Instruments3.5
Commissions & Fees5.0
Trading App’s Interface4.5
Suitability For Beginner Traders5.0
Suitability For Sophisticated Traders3.5
Customer Service4.0
Research Tools4.0
Social Trading2.5
Education Resources4.0
OVERALL4/5

7. Syfe.

Another 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”.

OK, enough sloganeering. What do these platitudes mean, exactly?

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 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 UpScore
Range Of Assets & Instruments3.0
Commissions & Fees3.5
Trading App’s Interface4.0
Suitability For Beginner Traders5.0
Suitability For Sophisticated Traders2.0
Customer Service4.0
Research Tools2.0
Social Trading0.0
Education Resources5.0
OVERALL2.9/5

9. CommSec Pocket.

A surprisingly good micro-investing app.

stock trading platform australia

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.

CommSec’s biggest strength is its two-day (T2) settlement, which means money hits your account two days after your trade date.

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 UpScore
Range Of Assets & Instruments3.0
Commissions & Fees3.0
Trading App’s Interface4.5
Suitability For Beginner Traders5.0
Suitability For Sophisticated Traders1.0
Customer Service4.0
Research Tools3.0
Social Trading1.5
Education Resources4.0
OVERALL3.3/5

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.

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 offers you the ability to ability to keep your money within the Westpac ecosystem.

But you will pay higher brokerage fees for this perceived safety and convenience.

Expect to pay $19.95 (or 0.11%, whichever is smaller) per trade on the ASX if you’re transferring money from other Westpac products 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 UpScore
Range Of Assets & Instruments3.5
Commissions & Fees3.0
Trading App’s Interface4.5
Suitability For Beginner Traders5.0
Suitability For Sophisticated Traders3.0
Customer Service3.5
Research Tools3.0
Social Trading0.0
Education Resources3.0
OVERALL3.2/5

11. CMC Markets.

Good all-around trading app for intermediate traders.

cmc markets stock trading apps

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 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.

You can access Australian and international stocks as well as exchange-traded funds (ETFs), options, fixed-income securities and bonds.

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.

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:

stock trading app australia

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 PlatformUp to $1,000Up to $5,000$10,000$50,000
CMC$0*$11$20$50
CommSec$10$19.95$29.950.12%
NABtrade$9.95$14.95$19.950.11%
ANZ$0*$11 or 0.10%$11 or 0.10%$11 or 0.10%
* ANZ and CMC offer $0 on the first transaction only. Subsequent transactions attract an $11 fee.

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).

According to customer feedback on Productreview.com.au, this is CMC Markets’ biggest Achilles heel, with people struggling to get fast and effective responses.

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, treasuries 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.

best stock trading app australia

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 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 investing app for educational resources.

stock trading apps australia

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.

You pay $0 brokerage fees on the first 15 trades, then a flat $7.7 per trade afterwards.

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 vs etoro

Oanda is a broker operating since 1996 and is regulated in six tier-1 countries, including Australia.

It supports MT4 and MT5 platforms and has built a strong reputation for excellent market analysis.

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 do prefer to buy and sell your shares via a banking app, the following Australian banks will be happy to provide you with one:

BankInvesting App Name
Commonwealth BankCommSec
NABNABTrade
Bendigo BankBendigo Invest Direct
St GeorgeDirectshares
HSBCHSBC Invest App
MacquarieMacquarie Trading App
WestpacWestpac Share Trading App
ANZANZ 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 in Australia.

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.

However, this also means your losses are mitigated because they cannot exceed your initial investment amount.

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

With CFDs, your profits and losses can be amplified, meaning you could lose more than what you originally put in.

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 AppMinimum Deposit (US$)Demo Account?Mobile App ScoreDays To Open An Account
eToro$50Yes4.4/52-5
Webull$0Yes4.2/51-3
Selfwealth$500Yes4.2/51-4
moomoo$500No3.8/52-5
Tiger Brokers$500No2.9/52-5

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 AppDeposit FeeOngoing FeeWithdrawal FeeInactivity FeeBrokerage Fee
eToro$0$0$5$10 after 12 monthsNone on ETFs and stocks
Webull$0$0$0$15 after 12 months$0
Selfwealth$0$20/month for Selfwealth Premium$0$0Yes
moomoo$0$0$0$25/yearYes
Tiger Brokers$0$0$0$0Yes

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.

  • 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 that 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 amount of paperwork, as I already do all my business and personal banking with NAB.

The question kept nagging me – should I choose a better investing app?

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 It 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.

CHESS sponsorship is crucial because it means you own the shares directly and can have voting rights.

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.

Expert Tip.

The best stock trading apps have in-app tutorials that show you how to get the most out of their platforms.

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:

  • 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 $10 at one broker might cost $150 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.

Steven

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12 responses to “15 Best Stock Trading Apps In Australia For 2024 [Rated & Ranked]”

  1. 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

  2. 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

  3. 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!

  4. 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.

  5. 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.

  6. 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.

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