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The best day trading platforms in Australia

The best day trading platforms have low fees and are packed full of features for active traders.

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Selecting the best day trading platform is about finding a broker that offers low fees for high frequency trading along with features that keep you one step ahead of the rest.

Best day trading platforms in Australia (2024)


We used Finder's proprietary algorithm to find brokers that offer the best selection of tools and to nail down those with the most attractive fees for high frequency traders.

According to our latest review, Interactive Brokers Trader Workstation (TWS) is the best day trading platform in Australia thanks to its extensive list of available assets and trading tools especially designed for algorithmic traders. It also offers extremely low fees, particularly if you're looking to trade larger amounts frequently or using leverage.

Australia's best platforms for day trading

Tiger Brokers: Low fee options trading

Tiger Brokers logo
4/5 ★★★★★
Go to site Read review
Capital at risk
Cheaply invest in US, HK and AU shares
Easy access to international trading
Low-cost options trading
Tiger Brokers is one of the newest entrants to Australia's market and has already made its mark thanks to low fees, solid trading tools and training resources for those looking to upskill. In Finder's 2022 broker analysis, Tiger was awarded the title of Australia's best options trading account thanks to its low fees for US options and high quality trading tools.
  • Low options trading fees.
  • Trade ASX, US and HK stocks.
  • No minimum deposits.
  • Technical analysis tools.
  • Slightly cheaper brokerage elsewhere.
  • Might be tricky for newer investors.
  • Limited access to global markets.
Brokerage fee per trade:
AU stocks: $5.50 per trade
US stocks: US$2
UK stocks: Not available
Other markets available: Details here
Options:
ASX: Not available
US: US$0.95/contract (Min. US$3 per order)
Inactivity fee: $0
Currency conversion fee: 0.53% of trade value

IG: Best for low-cost trading (Finder Awards)

IG Share Trading logo
5/5 ★★★★★
Similar platforms Read review
Capital at risk
Practice with $20K virtual money
Access to educational content hub
Trade shares, forex & commodities
IG is our top pick for low costs because it has among the lowest fees across the board for ASX, US and other global stocks. It also has consistently low brokerage fees whether you're investing a few hundred or several thousand dollars at a time, plus a competitive currency exchange fee of 0.70%.
  • Practice with $20K of virtual funds, Improve trading skills on IG Academy
  • Switch to real trading of ASX and global stocks
  • Trade on desktop or mobile
  • Not suitable for casual investors. The IG app is targeted more towards active traders than casual investors.
Brokerage fee per trade:
AU stocks: $5 or 0.05% if you make 3 or more trades in the previous month. $8 or 0.1% of your trade (whichever is higher)
US stocks: US$0
UK stocks: £0
Other markets available: Details here

ETF brokerage fees:
AU ETFs: $5 or 0.05% if you make 3 or more trades in the previous month. $8 or 0.1% of your trade (whichever is higher)
US ETFs: US$0
UK ETFs: £0
Other markets available: Details here

Inactivity fee: if you make fewer than 3 trades during that time.

Currency conversion fee: 0.70% of trade value

CMC Invest: Best for Australian stocks

CMC Invest logo
5/5 ★★★★★
Go to site Read review
Capital at risk
$0 brokerage for global stocks
$0 brokerage on ASX buy orders
Sophisticated research tools
CMC Invest is a feature rich CHESS sponsored platform without the price tag. Along with low fees on global and ASX stocks, you get access to technical tools, stock analysis, watchlists and stock filters. You can also trade options (ETOs) and CFDs on forex, commodities, indices and stocks.
  • $0 brokerage on global stocks. CMC charges no commissions to trade stocks listed in the US, UK, Germany or Japan.
  • Conditional orders. Along with market and limit orders, you can place a range of conditional orders to fine tune your strategy.
  • Research tools. You get access to top quality research and filtering tools to help you find new opportunities.
  • Technical analysis tools. You can build your own charts with CMC's technical analysis suite.
  • Limited global markets. Only 4 global markets are commission-free to trade. Others are $59 per trade in brokerage.
  • Leverage (CFD) trading is available on a different account to the main stock trading account.
Brokerage fees:
AU stocks: $0 brokerage (for buy orders up to $1,000) and $11 or 0.10% (whichever is greater) for all other buy and sell orders.
US stocks: US$0
UK stocks: £0

ETF brokerage fees:
AU ETFs: $0 brokerage for trades up to $1,000 (applied to the first buy order per ETF per day). $11 fee for trades up to $10,000. $15 fee for trades equal to or greater than $15,000.
US ETFs: US$0

Options:
ASX: $33/contract
US: Not available
Other markets available: Details here

Inactivity fee: $0

Currency conversion fee: 0.60% of trade value

Webull: Best day trading platform (August 2023 update)

Webull logo
4/5 ★★★★★
Go to site Read review
Capital at risk
Advanced technical tools
ASX and global stocks
US options trading
We've rated Webull as Australia's best platform for day trading because of its low fees for stock and options trading and high quality trading tools. Webull offers stocks from Australia, the US, China (A-Shares) and Hong Kong as well as US options plus margin trading for both stocks and options. Useful features include extended trading hours, technical analysis charts and probability analysis tools.
  • Access to stocks from Australia, US, China (A-Shares) and Hong Kong
  • US options trading at low fees
  • Demo account available
  • Quality technical analysis tools
  • High quality research tools
  • Fewer markets available than some other platforms
  • No ASX options trading
  • Zero commission trades are introductory only
Brokerage fee per trade:
AU stocks: $0.0003 per trade value (min $4.90)
US stocks: US$0.00025 per trade value
UK stocks: £0
Other markets available: Details here
Inactivity fee:
Currency conversion fee: 0.50% (50 pips) of trade value

Interactive Brokers: Best for options trading

Interactive Brokers Australia logo
5/5 ★★★★★
Similar platforms Read review
Capital at risk
Advanced trading features
Trade Australian and global shares
Trade OTC stocks from global markets
As Finder's best rated day trading account for the last 3 years running, it's easy to see why Interactive Brokers is hugely popular with active traders. It features a long list of trading tools including technical analysis charts, over a dozen conditional orders and a range of available assets, including stocks, options and CFDs. Interactive is also one of the only brokers to offer OTC (over the counter) stocks and futures.
  • Low brokerage fees on global and ASX stock trades.
  • Low options trading fees.
  • Top quality trading tools.
  • Complicated fee structure.
  • Its app user rating is lower than some others.
  • Its trader workstation is not for beginners.
Brokerage fee per trade:
AU stocks: $5 or 0.08% (whichever is greater) for trade values up to $3,000,000
US stocks: US$0.0035 cents per share capped at 1.0% of trade value
UK stocks: £1.00 or 0.050% (whichever is greater) for trade values up to £40,000,000
Options:
AU: $0.33/contract, min $1.10
US: US$0.25 - US$0.65/contract, min US$1.00
Inactivity fee: $0
Currency conversion fee: 0.20% (Flat US$2 for transactions below $10,000 or 0.2% for amounts above $10,000)

Our methodology for the best day trading platforms

To find the platforms for day traders we analysed the fees and features of 40 platforms available in Australia. 40 features were included in the algorithm and the top rated trading platforms featured here had the highest average rating across the board.

Features included in the weightings were:

  • Brokerage fees for active investors that make 30 or more trades per month
  • The number of stock markets available
  • Its product range, including stocks, options, currencies and futures products
  • Whether it offer margin trading
  • Advanced trading tools such as conditional orders and technical analysis charts
  • Research tools such as stock ratings and news
  • What support options are available
  • Whether it's both desktop and mobile accessible
  • It's appropriateness for advanced traders

For more information on how we determined our finalists, check out our full methodology.

What is day trading?

Day trading involves buying and selling financial instruments within the same trading day. Traders aim to capitalise on short-term price movements to make profits.

It's important to note that day trading can be highly volatile and risky, and it requires a good understanding of the market, technical analysis, and risk management.

If you're considering day trading, it's crucial to educate yourself, stay informed about market trends, and develop a solid trading strategy.

Keep in mind that financial markets can be unpredictable, and there are no guaranteed profits. It's recommended to start with a small amount of capital, use risk management strategies, and be prepared to handle the emotional challenges that come with day trading.

Advantages and disadvantages of day trading

Pros

  • Potential for quick gains: Day trading offers the opportunity for rapid profit-making. Each trade decision represents a chance to earn money swiftly, which can outpace traditional investing.
  • User-friendly access: Modern online brokerage platforms have made day trading accessible from the comfort of your home. Setting up your trading activities can be done conveniently through your computer and smartphone.
  • Thrilling experience: Unlike long-term investments, day trading provides an exciting and dynamic environment. Researching opportunities, executing trades, and achieving successful outcomes can be a source of excitement.
  • Risk mitigation: Day traders typically close their positions before the market closes, minimising the risk of overnight losses. This contrasts with regular investors who may face unexpected overnight market movements.
  • Independence: For some dedicated individuals, day trading can become a full-time profession, offering the independence to work for yourself.

Cons

  • High risk: Day trading is a high-risk, high-reward strategy. Making poor decisions can lead to rapid losses. Statistics in 2024 reveal a stark reality about day trading, not just in Australia but globally. A significant majority of day traders, over 80%, end up losing money within their first year of trading.
  • Costs and taxation: Day trading can accumulate fees, and short-term capital gains may result in higher taxes. In Australia, selling investments held for less than a year may not qualify for the capital gains tax discount.
  • Stressful nature: The fast-paced nature of markets can be stressful, especially when trades are not going as planned. Day trading can be akin to gambling and may lead to addiction, affecting one's well-being and relationships.
  • Time-intensive: Successful day trading requires a significant time commitment. Extensive hours are needed for market research, tracking, and executing trades. Additionally, competition is fierce, even against professionals from major financial institutions.

Compare other trading platforms

Name Product Price per trade Inactivity fee Asset class International
eToro
Finder AwardExclusive
eToro
$0
US$10 per month if there’s been no log-in for 12 months
ASX shares, Global shares, US shares, ETFs
Yes
Finder exclusive: Get 12 months of investment tracking app Delta PRO for free when you fund your eToro account (T&Cs apply).
CFD service. Capital at risk.
Join the world's biggest social trading network when you trade stocks, commodities and currencies from the one account.
CMC Invest
Finder Award
CMC Invest
$0
$0
ASX shares, Global shares, Options trading, US shares, ETFs
Yes
$0 brokerage on US, UK, Canadian and Japanese markets (FX spreads apply).
Trade over 45,000 shares and ETFs from Australia and 15 major global markets. Plus, buy Aussie shares or ETFs for $0 brokerage up to $1,000 (First buy order of each security, each day - excludes margin loan settled trades).
Moomoo Share Trading
US$0.99
$0
ASX shares, Global shares, US shares, ETFs
Yes
Finder exclusive: Get an additional 30 days on top of the regular brokerage-free period for new accounts. T&Cs apply.
Trade shares on the ASX, the US markets and buy ETFs with Moomoo. Plus join a community over 20 million investors.
Spaceship US Investing
US$0
$0
US shares, ETFs
Yes
Dive into US markets with $0 brokerage, starting with just a $10 investment.
Unlock US stocks and ETFs with minimal entry barriers, offering straightforward, low-cost options for new and seasoned investors.
Tiger Brokers
US$2
$0
ASX shares, Global shares, US shares, ETFs
Yes
Finder exclusive: 10 no-brokerage US or ASX market trades in the first 180 days + 7% p.a. on uninvested cash with first deposit of any amount, plus US$30 TSLA + US$30 NVDA shares with deposits up to AU$2000. T&Cs apply.
Trade Australian, US and Asian stocks with no minimum deposit on Tiger Broker’s feature-packed platform.
Webull
US$0.25
$0
ASX shares, Global shares, Options trading, US shares, ETFs
Yes
Sign up & deposit $200 to get $100 of rewards value, or deposit $1,000 to get $200 worth. Up to $5,450 value available. T&Cs apply.
Trade ASX and US stocks and US options, plus gain access to inbuilt news platforms and educational resources. You can also start trading for less with fractional shares.
Saxo Invested
US$1
$0
ASX shares, Global shares, Options trading, US shares, ETFs
Yes
Access 22,000+ stocks on 50+ exchanges worldwide
Low fees for Australian and global share trading, no inactivity fees, low currency conversion fee and optimised for mobile.
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Important: The standard brokerage fee displayed is the trade cost for new customers to purchase $1,000 of either Australian or US shares. Where a platform charges different fees for both US and Australian shares we show the lower of the two. Where both CHESS sponsored and custodian shares are offered, we display the cheapest option.

Frequently asked questions

Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involve substantial risk of loss and therefore are not appropriate for all investors. Past performance is not an indication of future results. Consider your own circumstances and obtain your own advice before making any trades.

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