Compare Share Trading Platforms & Online Stock Brokers In Australia

“Do your research” is a common tip in articles about comparing online share trading platforms. It’s a smart approach, because your needs, goals and financial situation are unique.

A careful comparison of brokers leads to choosing will help you choose an online share trading platform that makes managing your securities portfolio easier and more cost-effective.

However, it can be difficult to get the ‘meaty’ information about brokerage fees and breadth of market access in a format that helps you compare trading platforms meaningfully.

These insights are based on our previous, in-depth reviews of these online brokers — presented here in a more digestible way to help you make an informed choice.

1. eToro.

A high-profile online share trading platform for a reason — eToro’s user-friendliness, copy-trading features and broad access to assets are its defining features, making it a widely appealing option for the less invested investor.

eToro is regulated in Australia, the EU and the UK.

Who Is eToro Best For?	Why?
Time-poor, medium-to-long-term share/ETF investors with no opportunity to analyse the market or pick stocks.	Because you can leverage the expertise of advanced traders (helpfully rated for past success/risk) via its top-notch copy trading features, for free.
Budget-conscious investors who want to build a diversified stock portfolio with low levels of turnover.	Because trading stocks and ETFs on eToro is commission-free, and you’ll also avoid spreads on long, non-leveraged positions.
Beginner and intermediate investors ready to explore a broader range of assets.	Because eToro offers over 3,000 tradable instruments, has a great demo account, lets you spend less to buy fractional shares, and simplifies using leverage.

Who Should Avoid eToro?	Why?
Experienced investors with a higher frequency of trades.	You can find more competitive currency conversion, spread, and account fees on platforms aimed at day traders.
Investors who want control and are keen to deepen their technical analysis skills.	Because eToro’s excellent copy trading feature is such a draw, you won’t get the same value if you don’t need it. Plus, its research tools are less sophisticated.
People investing with very small sums of money.	Because eToro’s fee structure is complex, complicated by the fact that it operates in US dollars (you’ll incur a currency conversion fee every time you add/withdraw funds in AUD). The fee gets reduced by 50% once your balance exceeds $25,000.

eToro Feature	Why Should You Care?
Low Fees You Can Benefit From	$0 commission to buy or sell stocks and ETFs
Costs To Factor In	1.5% currency conversion fee from AUD to USD (discounts of 25%, 50% and 100% apply once your balance reaches thresholds of $5,000, $25,000 and $250,000, respectively).
Available Markets	17 major exchanges, including ASX, NASDAQ, NYSE, LSE, HKEX, TSX and Euronext
Available Crypto Markets	79 coins
Available Forex Markets	47 global currency pairs
Support	Ticket only (usually takes 1 business day to respond).
Trading Platforms	Proprietary desktop app. Fully featured mobile app for iOS and Android.

2. Webull.

You’ll see the benefits of Webull if you’re focused on minimising your brokerage fees, provided it matches your needs in terms of the available markets/assets.

If your main interest is Australian and US stocks and ETFs, it’s a winner. 

Who Is Webull Best For?	Why?
Value-driven investors with less cash to get started with.	Because Webull’s fees are dirt cheap compared to online brokers with similar features. It also allows fractional shares, and has no minimum deposit amount.
Investors who value simplicity in their approach to investing, for longer-term capital growth.	Because it’s intuitive to use and has enough variety of assets to build a balanced portfolio based on Australian and international shares plus ETFs.
Investors who value simplicity in their approach to investing, for longer-term capital growth.	Because it’s intuitive to use and has enough variety of assets to build a balanced portfolio based on Australian and international shares plus ETFs.
Security-conscious investors who prefer their ASX shares are linked to their individual HIN.	Because Webull is one of the few low-cost stock brokers that offers CHESS-sponsored Australian shares, compared to the more common custodial model.

Who Should Avoid Webull?	Why?
Beginners looking for guidance from experienced peers and trading professionals.	Because Webull doesn’t have any copy trading or social trading features, and less-than-stellar educational materials.
Intermediate and experienced traders with a higher risk appetite.	Because Webull doesn’t offer leveraged trading. While it does offer margin lending, it comes with a high interest fee of 9.6% (e.g., compared to Interactive Brokers’ rate of 5.6-6.6%).
People wanting to invest in broad asset classes including exotic and niche assets.	Because you’re limited to Australian and US shares and ETFs, US options and select Asian shares.

Webull Feature	Why Should You Care?
Low fees you can benefit from	Trade value X 0.0003 for ASX stocks, with a $4.9 minimum. Trade value x $0.00025 to buy US stocks, slightly higher fees to sell.
Costs To Factor In	9.6% interest rate on margin lending
Available Markets	ASX, NASDAQ, Cboe, HKE and exchanges in Shanghai and Shenzhen
Support	Email and phone
Trading Platforms	Mobile-first philosophy makes the app the focus, but a proprietary desktop version is also available.

3. Interactive Brokers.

Probably the longest-standing online stock broker in our comparison, Interactive Brokers is a trusted, ASIC-regulated multinational firm listed on the NASDAQ.

The platform has a reputation as being for skilled traders, but now caters to a breadth of investor types.

Who Is Interactive Brokers Best For?	Why?
People who want all-in-one platform capabilities, to avoid switching accounts later.	Because Interactive Broker has multiple apps for beginners to advanced investors, and allows you to upgrade when you feel comfortable.
Experienced investors focused on research and analysis to underpin their decision-making.	Because the platform’s fundamental, technical research and reporting tools are robust. Powered by Morningstar, they offer high-resolution insights and live market data.
Buy-and-hold investors looking to lower their costs.	Because Interactive Brokers boasts low commissions, no penalties for no activity on your account, no minimum deposit amount, and free withdrawals.

Who Should Avoid Interactive Brokers?	Why?
Stock market investors who value straightforward brokerage fee structures.	Because you’ll get a headache trying to understand Interactive Broker’s fees across multiple plans and asset types.
People hoping to engage with an expert peer community.	Because the platform lacks social trading features.
New or low-touch investors overwhelmed by too many options.	Because Interactive Brokers covers a huge variety of asset types, markets and extra features like ESG investing and earning interest on returns.

Interactive Brokers Feature	Why Should You Care?
Low Fees You Can Benefit From	0.08% of trade value (or a minimum of AUD$6) for Australian stocks and ETFs. Depending on your trading volume, US share commissions start from as low as US$0.0005%.
Costs To Factor In	You’ll need the equivalent of USD$2,000 in your account to access margin lending.
Available Markets	150 global markets, including 90 stock markets.
Available Crypto Markets	Spot Bitcoin ETFs are available to eligible investors
Available Forex Markets	27 currency pairs.
Support	Web-based help centre, email, phone and online chat.
Trading Platforms	Modern and fully-featured desktop and mobile apps are available for both beginners and more advanced traders (4 platforms in total).

4. Vantage.

If you’re interested in Contracts for Difference (CFD) trading in Australia, Vantage is our top pick for a comprehensive and inexpensive online broker.

It compares favourably to other CFD trading platforms because it offers access to pro-level MetaTrader 4 and 5 (MT4, MT5) functionality and razor-sharp spreads.

Who Is Vantage Best For?	Why?
Serious CFD and forex traders that need all the bells and whistles for precision in trading.	Because Vantage focuses solely on CFDs and Forex trading, with a user experience that gives you direct access to industry-standard MT4 and MT5 tools.
Traders levelling up in their experience who want to learn about CFDs and forex.	Because of its targeted charting capabilities, the option to engage via simpler interfaces, and built-in access to forex news headlines and trade ideas.
Traders who want to buy and sell CFDs across a wide range of asset types.	Because Vantage offers a generous range of 44+ forex pairs as well as CFDs for shares, ETFs, bonds, crypto, commodities and indices.

Who Should Avoid Vantage?	Why?
Beginner investors with a low risk tolerance.	Because Vantage is unashamedly focused on CFDs, a notably risky investment product.
Investors focused on Australian and international shares.	Because you can’t use Vantage to buy underlying assets, only derivative contracts.
CFD traders who don’t have the time or patience for a steep learning curve.	Because Vantage doubles-down on technical trading features, a simpler app might be better if you don’t want to hone your CFD skills.

Vantage Feature	Why Should You Care?
Low Fees You Can Benefit From	A competitive $1 commission per side and low variable spreads (When using Raw account).
Available Markets	Share CFDs are available across US, UK, European and Australian markets.
Available Crypto Markets	40+ coins.
Available Forex Markets	44+ currency pairs.
Support	Online help centre, email, phone and live chat.
Trading Platforms	Desktop and mobile apps. Mobile app offers around 80% of the desktop functionality.

5. Selfwealth.

Competitive and truly transparent pricing is putting Selfwealth on the radar of more Australian investors.

If owning Australian and US company shares or ETFs is the centrepiece of your investing strategy, this solid share trading platform compares well.  

Who Is Selfwealth Best For?	Why?
US and ASX-focused investors who need up-front clarity on costs.	Because Selfwealth has the simplest pricing model compared to other online trading platforms – one flat fee for any sized trade. It’s very competitive at just AUD$9.50 (Australian shares) and US$9.5 (US shares).
Long-term holders looking to enhance their knowledge and skills primarily in stock/ETF investing.	Because the platform has a surprisingly good market insights feature that lets you explore opportunities and analyst recommendations (for a $29/month fee).
Investors who want peace of mind.	Because Selfwealth provides CHESS-sponsored ASX shares (you retain ownership). Not something you always get with a discount online share trading platform.

Who Should Avoid SelfWealth?	Why?
Cash-strapped newbies who want to invest very small amounts.	Because you’ll need to invest AUD$500 at a minimum to buy ASX shares, and $100 for US shares.
Investors keen to experiment across diverse asset types or tradable products.	Because the platform lacks leveraged trading and focuses solely on securities.
Investors who’ll regularly rebalance their international share allocation.	Because buying and selling US stocks comes with an (approximately) 0.6% foreign exchange fee, a considerable drawback if you trade often.

Selfwealth Feature	Why Should You Care?
Low fees you can benefit from	Flat fee of AU$9.50 per ASX trade, regardless of the trade size (US stock fee is US$9.5 per trade)
Costs To Factor In	Minimum investment of $500 for ASX shares. You’ll pay $29 monthly to access advanced market insights and learn from expert analysts.
Available Markets	ASX, NYSE, NASDAQ, and Hong Kong Stock Exchange
Support	Web-based help centre, email and live chat. The live chat is excellent.
Trading Platforms	Desktop and mobile apps for iOS and Android.

6. Fusion Markets.

Fusion Markets is a go-to trading platform for forex trading and CFDs. It’s headquartered in Melbourne and regulated by ASIC. If your priority is forex trading, this broker is low-cost and fully featured.

Who Is Fusion Markets Best For?	Why?
Forex traders at every level of experience.	Because it offers a comprehensive suite of analytical trading tools including MetaTrader 4 & 5, WebTrader and cTrader.
Beginner and time-poor forex traders looking for a hands-off approach to trading.	Because FusionMarkets uses a third-party copy trading provider (DupliTrade), so you can mimic expert traders’ activities through MT4/5.
Frequent forex traders who want the best value.	Because when you choose a ‘Zero’ account type, you’ll benefit from competitive costs — $2.25 per side and razor-tight spreads that are about 30% lower when compared with the industry average.

Who Should Avoid Fusion Markets?	Why?
People trading in highly volatile markets.	Because there are no guaranteed stop-loss orders (GSLO) available.
Beginners with less capital to invest.	Because the copy trading feature has a $5,000 minimum entry threshold and Fusion Markets education tools are basic.
Forex investors also looking to trade real stocks.	Because this is where the app falls down compared to similar platforms like Think Markets and Go Markets.

Feature	Why Should You Care?
Low Fees You Can Benefit From	Extremely low commissions of $2.25 per side and industry-best spreads (with a Zero account). Currency conversion is 0.2%.
Available Markets	Forex and CFDs on commodities, equities indices, US shares, and crypto.
Available Crypto Markets	Over 10 popular Crypto pair CFDs.
Available Forex Markets	90 currency pairs.
Support	Responsive 24/7 support via email, chat and phone (compared to an industry-standard 24/5 support).
Trading Platforms	Desktop and mobile apps for iOS and Android.

7. CMC Markets.

CMC Markets is a respected, global player that offers an extensive range of tradable instruments (12,000+) and a strong suite of educational resources.

Need a reliable, all-rounder platform? This is a strong contender.

Who Is CMC Markets Best For?	Why?
Investors who want exposure to a large range of assets.	Because CMC Markets’ variety is huge: Australian shares, international stocks, forex, commodities, CFDs, ETFs, cryptocurrency, indices, exotics, treasury notes, bonds, and other government debt instruments.
Intermediate and experienced investors and traders seeking market data, research and technical analysis.	Because it’s known for its advanced tools, including being accessible on MetaTrader 4, Stockbroking Pro/Standard and Next Generation.
People keen to learn and grow their investing knowledge.	Because the platform has thorough guides, live webinars, events, podcasts and lessons that make learning easy.

Who Should Avoid CMC Markets?	Why?
Buy-and-hold investors who trade less frequently.	Because the platform has relatively high fees for inactivity compared to its competitors.
Beginners averse to complexity or advancing their skills.	Because the platform is relatively complex, and only people primed to learn will make the most of it.

CMC Feature	Why Should You Care?
Low Fees You Can Benefit From	$0 brokerage on US, UK, Canada and Japan shares. $0 brokerage on Australian shares up to $1000 for 1 buy order per day.
Costs To Watch Out For	You’ll pay a comparatively high $15 per month inactivity fee after 12 months.
Available Markets	Australian shares, international stocks, forex, commodities, CFDs, ETFs, cryptocurrency, indices, treasury notes and bonds.
Available Crypto Markets	CFDs for 19 coins and crypto indices.
Available Forex Markets	330+ currency pairs.
Support	24/5 support via phone, live chat.
Trading Platforms	Desktop and mobile apps for iOS and Android.

8. Tiger Brokers.

Tiger Brokers is a competitive, low-cost stock broker compared to other platforms focused on shares. It offers a healthy range of investment products, including Australian and US shares and ETFs, US options and futures and Hong Kong stocks.

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

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

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

9. Plus500.

Compared to other trading platforms that specialise in CFDs covered here, Plus500 is a good option for relatively new CFD and forex traders who’d prefer a user-friendly online experience.

Who Is Plus500 Best For?	Why?
New CFD traders who value simplicity.	Because the online broker’s trading tools are easy to use, with a considerable range of trading instruments presented clearly.
CFD traders looking for quick access to core international markets.	Because Plus500 offers over 2,500 popular instruments in 7 markets and a low minimum deposit requirement of $100.
Traders who value precision and control over trade executions.	Because the platform has solid risk management tools and guaranteed stop-loss orders (GSLOs).

Who Should Avoid Plus500?	Why?
Cautious investors who want to buy and hold stocks.	Because Plus500 only offers CFDs, a highly risky investment product.
Day traders who don’t want to limit themselves to CFDs.	Because Plus500 only has CFDs. By comparison, a trader with a broader interest should explore Interactive Brokers.
Seasoned CFD traders that need highly advanced analytical tools.	Because you’ll probably prefer access to MT4 or MT5. Plus500 doesn’t compare well to an online brokerage like Vantage in this regard.

Plus500 Feature	Why Should You Care?
Low Fees You Can Benefit From	Spreads vary across different instruments, but are in line with industry averages. No deposit, withdrawal or trading fees.
Costs To Watch Out For	Double-check your stop-loss orders before you trade – they can often attract a wider spread on Plus500. Plus500 charges 0.7% currency conversion fee on a trade’s realised net profits.
Available Markets	2,500 CFDs across major indices, US stocks, commodities, forex, and crypto.
Available Crypto Markets	33 coins and crypto indices/ETFs.
Available Forex Markets	60+ currency pairs.
Support	24/7 online chat and web tickets. No phone support
Trading Platforms	Desktop and mobile apps for iOS and Android.

How Do I Make Money From Trading Shares?

Investors trade shares online with the aim of:

Capital gains made through an increase in a stock’s value on the market hinge on the company’s real-world performance, its perceived value in the eyes of investors (sentiment), and when you buy in and how long you hold.

What Are The Risks Of Investing In Shares?

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

You also accept the chance that you could lose all of your capital.

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

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

What Is CHESS Sponsorship?

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

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

How To Compare Trading Platforms And Brokers?

As this comparison of share trading platforms and online brokers demonstrates, your choice will be driven by your investing experience and plans.

For example, There’s no reason to compare platforms that only offer CFDs if your goal is to invest long-term in stocks.

Clarify your own priorities first. You might narrow your options by determining:

What Fees Do Australian Online Share Trading Platforms Charge?

A number of dependable, low-cost stock broking apps are competing for market share in Australia, aimed at making investing affordable for retail investors.

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

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

Are Online Share Trading Platforms Safe?

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

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

Jody