The best trading platforms in Australia for 2023

As an investor, it's important to find a trading platform that's right for you. A great trading platform doesn't just save on costs, it'll give you access to your favourite stocks and ETFs and offer features that match your investment approach.

But no two investors are the same. That's why we've curated a list of categories that covers beginners, day traders, long-term investors and options traders. We also know that some stock traders prefer one market over others, so we've included out top picks for US stocks, Aussie stocks and global stocks (multiple markets).

Best trading platforms in Australia

1. Best trading platform (overall): CMC Markets
2. Best low-cost broker: IG
3. Best trading platform for beginners: Syfe
4. Best platform for long-term investing: Superhero
5. Best platform for day trading: Webull
6. Best trading platform for US stocks: eToro
7. Best trading platform for Australian stocks: CMC Markets
8. Best trading platform for international stocks: Interactive Brokers
9. Best options trading account: Interactive Brokers
10. Best ETF trading platform: CMC Markets
11. Best copy trading platform: eToro
12. Best paper trading app: IG

Read the full methodology for our share trading platform awards

Australia's best share trading platforms for 2023

1. CMC Markets Invest

The best trading platform in Australia (overall)

5/5 ★★★★★

score

Go to site Read review

Capital at risk

$0 brokerage for global stocks

$0 brokerage on ASX buy orders

Sophisticated research tools

• Why it's great
• Pros and cons
• Fees

CMC Markets was rated the best trading platform in Australia (overall) for 2023 thanks to its impressive range of trading tools and low costs. The platform is intuitive enough for new investors but has the tools and product range to keep experienced traders satisfied. If you sign up to the pro account, you'll also get access to currencies, commodities and options. Check out CMC Markets if you want an excellent all-rounder.

• Trade Australian and global stocks
• Low trade fees on stocks and ETFs
• Suitable for new investors and advanced traders
• High-quality trading and research tools

• Limited global markets. Only 4 global markets are commission-free to trade. Other global markets cost $59 per trade in brokerage while ASX stock trading starts at $11.

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

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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

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

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Inactivity fee: $0

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Currency conversion fee: 0.60% of trade value

2. IG

The best low-cost share trading platform

5/5 ★★★★★

score

Go to site Read review

Capital at risk

Practice with $20K virtual money

Access to educational content hub

Trade shares, forex & commodities

• Why it's great
• Pros and cons
• Fees

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
Inactivity fee: if you make fewer than 3 trades during that time.
Currency conversion fee:
0.70% of trade value

Best trading platforms by investment approach

If you're new to investing, you likely want a trading platform that has lower costs for casual investing and an easy-to-use platform. Meanwhile, advanced or active traders will generally prioritise trading tools and a good product range. Whatever your approach or level of experience, the following categories should help to narrow down your options.

3. Syfe

The best share trading platform for beginners

N/A ★★★★★

score

Similar platforms Read review

Capital at risk

ASX and US stocks

Cryptocurrency investing

Portfolio investing

• Why it's great
• Pros and cons
• Fees

Syfe is one of the first trading platforms in Australia to offer a robo-advice feature with its diversified portfolios (smart baskets) tailored to your risk tolerance and time horizon. Plus, with a low minimum investment of just $1 and low fees there's no need to break the piggy bank to start. Syfe also gives you the option to directly purchase Australian and US stocks and ETFs as well as cryptocurrencies. With its simple-to-use platform, we think Syfe is a great choice for new investors.

• Invest from just $1
• Trade ASX and US stocks plus crypto
• User-friendly platform
• Ready-made portfolios available

• Few advanced features
• Only access to Australian and US stocks at this stage

Brokerage fees:
AU stocks: $4.99 for trades up to $20,000 and 0.025% for trades over $20,000
US stocks: US$1.49

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ETF brokerage fees:
AU ETFs: $4.99 for trades up to $20,000 and 0.025% for trades over $20,000
US ETFs: US$1.49

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Inactivity fee: $0

---

Currency conversion fee: 60 bps of trade value

4. Superhero

The best platform for long-term investing

4/5 ★★★★★

score

Similar platforms Read review

Capital at risk

Flat $5 fee per trade

$0 brokerage for Australian ETFs

No monthly fees

• Why it's great
• Pros and cons
• Fees

Superhero is rated our the best share trading platform for long-term investing thanks to its low fees, $0 brokerage fee deal for ETF investing and its auto-invest option. We particularly like that you can auto-invest from just $10, making Superhero a great choice for investors that want to dollar-cost average into stocks or ETFs over the long term. And for investors planning for retirement, Superhero also has SMSF and superannuation account options.

• $0 brokerage for US stocks, $5 for ASX
• Auto-investment feature
• $0 brokerage for ETF purchases
• No account or inactivity fees

• Few features. Superhero covers the basics but does not have some features advanced traders might find useful such as technical analysis tools.
• Not fully global. Superhero only offers Australian and US stocks at this stage.

Brokerage fees:
AU stocks: $5
US stocks: US$0
UK stocks: Not available

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ETF brokerage fees:
AU ETFs: $0 brokerage on buy orders, $5 on sell orders
US ETFs: US$0

---

Inactivity fee: $0

---

Currency conversion fee: 70 pips (US$0.70 for every AU$100 exchanged)

5. Webull

The best platform for day trading

4/5 ★★★★★

score

Go to site Read review

Capital at risk

Advanced technical tools

ASX and global stocks

US options trading

• Why it's great
• Pros and cons
• Fees

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

Best trading platforms by region

Do you prefer to trade Australian or US stocks? Perhaps you'd rather find a platform that offers stocks from right around the world? In the categories below we compared the fees and features of 40 trading platforms for investors that want to focus on Australian equities, US equities or a mix of global equities.

6. eToro

The best share trading platform for US stocks

4/5 ★★★★★

score

Go to site Read review

Capital at risk

Copy trading

Social media forums

Demo account available

• Why it's great
• Pros and cons
• Fees

eToro gets the top spot for US equities thanks to its $0 brokerage fee offering for NYSE and Nasdaq stocks alongside high-quality trading features. It's well known for its social trading tools that allow users to imitate the trades made by other popular traders or invest in thematic portfolios. Alongside US stocks it also offers cryptocurrency and stocks listed in Australia, Europe, the UK and Hong Kong. _{Disclaimer: CFD service. Capital at risk.}

• $0 brokerage US stock trading
• Packed full of features
• Fractional share trading available
• Conditional orders available

• CFDs are risky. To access leverage, you're trading with CFDs, which are risky and complicated investment products.
• Inactivity fee. If you don't open your account for 12 months, you'll be charged an inactivity fee of $10 per month.

Brokerage fee per trade:
AU stocks: $0
US stock: US$0
UK stocks: £0
Inactivity fee: USD 10 per month if you don't log in for 12 months or more
Currency conversion fee: 0.50% of trade value

7. CMC Markets Invest

The best share trading platform for ASX stocks

5/5 ★★★★★

score

Go to site Read review

Capital at risk

$0 brokerage for global stocks

$0 brokerage on ASX buy orders

Sophisticated research tools

• Why it's great
• Pros and cons
• Fees

CMC Markets Invest is a top pick in this category thanks to its low brokerage fees for Australian CHESS-sponsored equities and its extensive ASX stock and ETF analysis tools. Aside from trading on the ASX, you can also access stocks listed on the lesser-known Cboe (previously known as Chi-X) and SSX exchanges. Plus, CMC is one of the first brokers to offer $0 brokerage on Australian stocks and ETFs (for trades of up to $1,000).

• Rated best ASX trading platform
• Trade CHESS-sponsored ASX shares
• Comprehensive analysis tools for Australian equities
• Access the Cboe and SSX exchanges

• $0 brokerage is only for trades under $1,000

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

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

---

Inactivity fee: $0

---

Currency conversion fee: 0.60% of trade value

8. Interactive Brokers

The best international share trading platform

5/5 ★★★★★

score

Similar platforms Read review

Capital at risk

Advanced trading features

Trade Australian and global shares

Trade OTC stocks from global markets

• Why it's great
• Pros and cons
• Fees

Interactive Brokers is ranked number 1 for international share trading thanks to its long list of global markets, cheap global brokerage fees and low currency conversion fees. It also offers a number of markets not typically available through Australian brokers, such as Chinese, Mexican, Israeli and over-the-counter (OTC) stocks.

• Trade stocks from 33+ countries
• Low brokerage fees for global share trading
• Low currency conversion fee
• Offers OTC and small-cap stocks

• Relatively complex to use compared with other brokers
• Complex fee structure

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)

Best trading platforms for stock or ETF type

Not all stock trading platforms specialise in stocks alone. Some are better suited to options, commodities, ETFs or penny stock investors. Check out the categories below if you're looking for a platform with low fees and great features for investing in your preferred type of equity.

9. Interactive Brokers

The best options trading account

5/5 ★★★★★

score

Similar platforms Read review

Capital at risk

Advanced trading features

Trade Australian and global shares

Trade OTC stocks from global markets

• Why it's great
• Pros and cons
• Fees

We've rated Australia's best options trading platform as Interactive Brokers thanks to its low costs for Australian and US options and its extensive list of tools, such as technical analysis charts and conditional orders.

• Technical analysis tools
• Feature-rich
• Long list of conditional orders
• Margin trading available
• Offers stocks, commodities, indices and currencies

• Relatively complex to use compared with other brokers
• Fee structure is relatively complex
• Research tools geared towards the US

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)

10. CMC Markets

The best ETF trading platform

5/5 ★★★★★

score

Go to site Read review

Capital at risk

$0 brokerage for global stocks

$0 brokerage on ASX buy orders

Sophisticated research tools

• Why it's great
• Pros and cons
• Fees

CMC Markets is rated Australia's best ETF broker thanks to its extensive range of Australian and global ETFs, its low brokerage fees and because it has no inactivity fees. It also offers $0 brokerage of Australian equities trades (up to $1,000), making it a great choice for investors looking to regularly invest into Australian ETFs. And we're a fan of CMC's ETF filters and search tools, which make it super easy to find your ETF of choice.

• Trade Australian and global stocks
• Low trade fees on stocks and ETFs
• Suitable for new investors and advanced traders
• High-quality trading and research tools

• Limited global markets. Only 4 global markets are commission-free to trade. Other global markets cost $59 per trade in brokerage while ASX stock trading starts at $11.

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

11. eToro

The best copy trading platform

4/5 ★★★★★

score

Go to site Read review

Capital at risk

Copy trading

Social media forums

Demo account available

• Why it's great
• Pros and cons
• Fees

Arguably best known for its social trading features, it's no surprise eToro comes out on top for this category. eToro offers several social trading features, such as copy trading, which allows users to copy the trades and portfolios made by other top traders. And if you fit the bill as a top trader yourself, you can get rewarded if others on the app choose to follow you.

• Copy trading features
• Demo account with $100K of practice money
• Social forums within the app
• $0 brokerage on ASX, US and global stocks

• $200 minimum investment required to copy trade
• AUD must be converted to USD to trade with eToro
• Limited equities available for some global markets

Brokerage fee per trade:
AU stocks: $0
US stock: US$0
UK stocks: £0
Inactivity fee: USD 10 per month if you don't log in for 12 months or more
Currency conversion fee: 0.50% of trade value

12. IG

The best paper trading app

5/5 ★★★★★

score

Go to site Read review

Capital at risk

Practice with $20K virtual money

Access to educational content hub

Trade shares, forex & commodities

• Why it's great
• Pros and cons
• Fees

IG is our top pick for paper trading thanks to its high customer ratings, range of tradeable assets and its easy sign up process. Using IG's demo account, you can practice trading stocks and futures on commodities, indices, options and ETFs. Plus, if you want to switch to the real account, you'll find some of the lowest trading fees out there.

• 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
Inactivity fee: if you make fewer than 3 trades during that time.
Currency conversion fee:
0.70% of trade value

Compare share trading platforms to find the best deal

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Updated regularly

We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.

Learn how we maintain accuracy on our site.

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Name	Product	Price per trade	Inactivity fee	Asset class	International	Offer
eToro Finder AwardExclusive		$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)	Go to site More Info	Compare	loading Fetching your data...
Tiger Brokers Exclusive		US$2	$0	ASX shares, Global shares, US shares, ETFs	Yes	Finder exclusive: Get 15 commission-free trades on US or ASX equities for the first 180 days and US$50 fractional shares when you deposit at least $500. Plus, all new customers get 1 free trade per month for the first 12 months (T&Cs apply).	Go to site More Info	Compare	loading Fetching your data...
Moomoo Share Trading Exclusive		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 (see link for details). T&Cs apply.	Go to site More Info	Compare	loading Fetching your data...
IG Share Trading Finder Award		US$0	$0	ASX shares, Global shares, US shares, UK shares, ETFs	Yes		Go to site More Info	Compare	loading Fetching your data...
CMC Invest Finder Award		$0	$0	ASX shares, Global shares, Options trading, US shares, mFunds, ETFs	Yes		Go to site More Info	Compare	loading Fetching your data...
Webull		US$0.25	$0	ASX shares, Options trading, US shares, ETFs	Yes	Earn US$100 in cash vouchers when you fund your new account with US$2,000 until March 30, 2024. Plus, earn up to 5.3% p.a. interest on your US cash account (T&Cs apply).	Go to site More Info	Compare	loading Fetching your data...

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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.

About trading platforms in Australia

A few decades ago, Australians who wanted to invest in the stock market needed to go through a personal stock broker. This typically meant you would need to call your broker to place a trade and you would be charged high fees to do it.

These days, most Australian investors (70%) buy and sell shares through online share trading platforms (online brokers), according to research by the Australian Sercurities Exchange (ASX).

While you can still hire an adviser or full-service stock broker to place trades for you, the costs are typically much higher. For instance, you might pay $100 for a single trade through an adviser as opposed to $10 via an online trading platform.

What's the best share trading platform in Australia?

According to Finder's latest analysis of 40 online brokers, CMC Markets is the best overall share trading platform in Australia thanks to its long list of trading tools, availability of global stock markets and low fees.

But unfortunately choosing a broker isn't exactly a one-size-fits-all approach.

To find the best trading platform for you, try to find tools and features that align to your personal investing approach.

For example, if you're a new investor your needs might be tailored towards educational resources and lower brokerage fees. Meanwhile, if you've been trading for years, you might want a platform that has more advanced tools.

Regardless of your experience, one place to start can be comparing fees. Finder research found that the average share trader could save approximately $1,048 in brokerage fees each year by switching to a more suitable online broker (calculated on 7 trades per month of $1,000).

Watch: The best online share trading platforms for 2023

Tips for finding the best trading platform

There are plenty of things you'll need to consider when looking at different trading platforms. Of course, it all comes down to how you're intending to use it. Here are some of the key features to look at when comparing online share trading platforms:

• Fees. Almost every platform will charge you a brokerage fee (also called a commission fee) when you transact. Some will also charge you additional fees such as monthly fees or inactivity fees. To see more about fees click here.
• What can you trade? Some trading platforms will give you access to both Australian and international shares. Others will also allow you to trade currencies, indices, cryptocurrencies and much more. Find a broker that matches your needs.
• Ease of use. You should look for a platform that allows you to make fast and precise trades with minimum fuss.
• Access to data. Does the platform offer dynamic, real-time or delayed market updates? Some platforms offer research and broker analysis on individual stocks that can come in handy.
• Order types. Can you place orders at market and/or at limit? Are other order types such as stop/loss orders an option to add more flexibility to your trading? These should be considered when choosing a broker.
• Reporting. Check the reporting tools on each platform to help you track how your trades are performing, record dividends and pass on any relevant information to the Australian Taxation Office (ATO) at tax time.
• Customer support. Look for phone, email and live online chat support. Does it offer customer service 24/7 if you're having trouble placing a trade?
• Education. Some platforms also feature a range of educational tools and resources, such as how-to guides and webinars, to help you get more out of your trading account.
• Security. How secure is the platform? What measures are in place to ensure the safety of your funds?

How often and in what market you intend to trade is key to your broker choice. You want the one that's going to deliver the best deal for your particular trading profile – and personality.

Nicole Pedersen-McKinnon
Author, finance columnist

Facts and figures about trading platforms in Australia

• There are over 35 ASIC-regulated share trading platforms available to Australians as of 2023, according to the latest analysis by Finder.
• Of these, at least 10 launched in Australia after 2020.
• 95% of the trading platforms offer Australian stocks, 70% offer US stocks and 32% offer stocks from the UK (Finder).
• Unlike in the US where many trading platforms charge $0 brokerage fees, the fees to buy and sell Australian stocks range anywhere from $0 to $40 per trade. The average brokerage fee to purchase $1,000 of stock from an ASX-listed company is $11 as of September 2023.
• The average brokerage fee to purchase $1,000 of stock from a US company on an Australian trading platform is $10.70 as of 2023, although several brokers now offer $0 brokerage fees for US stocks.
• Just over 2 decades ago (2001), 18% of trades in Australia occured via an online share trading platform (RBA). Today around 70% of investors use a trading platform to buy shares (ASX).

What type of investor are you?

The trading platform you choose should suit your investment style. Once you know which category of investor you fall into, you'll be able to more easily pick the best share trading app for you. For example, there are casual traders, active traders and long-term investors. Ask yourself the following questions:

• How often will I trade? If you buy or sell shares once or twice a month (or even less), you're a casual investor. You may want to avoid brokers that have an inactivity fee or charge higher broker fees for less frequent trades. If you intend to buy and sell shares multiple times in a day, you're an active trader so advanced trading features may be the priority.
• How will I place trades? Will you be placing all your trades online, via a mobile app or over the phone? Make sure the app offers your preferred choice. Check the fees as well.
• What will I be trading? Do you want to trade Australian shares, US shares or other international markets? Some online brokers also offer other markets such as global currencies and cryptocurrencies. Depending on your priorities, you may wish to get a broker that offers all of the above or several different brokers – 1 for each market.
• How much money am I trading? Do you intend to invest a lump sum of $5,000 into the stock market or would you prefer to make several small trades of a few hundred dollars? Brokerage fees sometimes differ depending on the amount you're buying and selling per month, per year or by trade.

What fees do share trading platforms charge?

There are 3 main fees that commonly apply when you use online share trading platforms:

• Brokerage fees. Brokerage fees (also called commission fees) are the charges that apply to each buy and sell transaction of stocks and ETFs. They usually vary depending on the size of your buy or sell order or how often you trade.
• Ongoing fees. These apply monthly or annually, but not all providers will charge ongoing fees. This may depend on how frequently you trade. For example, inactivity fees are often charged if you don't place any trades within a certain period of time.
• Withdrawal fees. Some brokers charge a fee to withdraw money from your account.
• Foreign exchange fees. If you want to buy US or other global shares, you'll need to pay an exchange fee when you deposit money into your account to convert your Australian dollars to the applicable currency.

Brokerage fees vary between providers but typically start at around the $5–$15 range. For large transactions, fees of around 0.1% and up usually apply. If you're planning on making lots of trades, you'll want to keep an eye out for a platform that offers low per-trade fees.

Some providers will not charge any monthly fees at all. However, more advanced trading platforms and those that offer premium services often charge a monthly fee that could be as high as around $80 per month. A number of brokers waive this fee if you perform more than a certain number of trades each month.

Finally, remember that many brokers offer different membership levels – for example, gold, silver and platinum – which have different features and attract varying fees.

What are the risks of using trading platforms?

Most types of investments come with some risk, but there are a few specific to online share trading that you should be aware of:

• Cybersecurity: Online platforms are vulnerable to hacking and cyberattacks. This can lead to sensitive information being stolen and unauthorised trades being executed.
• Market risk: Share prices can fluctuate rapidly and unpredictably, leading to potential losses for traders.
• Platform failure: Technical glitches and system failures can cause temporary disruptions or errors in trade execution.
• Liquidity risk: Some less-established companies may have low trading volume, making it difficult to quickly buy or sell shares at a fair price.
• Regulatory risk: Trading platforms may be subject to government regulations, which can change without notice and impact the ability to trade certain securities.
• Counterparty risk: When using a platform to trade with other individuals, there is a risk that the counterparty may not fulfill their obligations, leading to losses.
• Misleading information: Inaccurate or misleading information can lead to poor investment decisions, leading to losses.

Share trading platform news: December 2023

• ETF provider Betashares has launched a $0 brokerage investment platform that lets you buy units in individual ASX-listed ETFs or auto-invest into ETF portfolios.
• The criminal trial against Sam Bankman-Fried (SBF), the founder of disgraced crypto exchange FTX, starts in the first week of October. SBF is alleged to have defrauded customer funds for his own use in business operations and political donations.
• Interactive Brokers Australia has been slapped with an $832,500 fine by ASIC for failing to identify suspicious trading activity by one of its clients.
• Sharesies has introduced a new monthly fee structure of $5, $10 or $20 per month for unlimited trades up to a certain amount. Alternatively, you can still pay as you go.
• CommSec has launched a new global trading platform that lowers its fees for US stocks to US$5 per trade.
• Tiger Brokers has launched an AI-powered chat bot called TigerGPT. While the feature is still in beta mode, Tiger says the AI bot will be able to access live stock data and subscription-only investment data.

Why you can trust Finder's share trading experts

We're free

Our comparison tables are completely free to use. We link you directly to the brokers' secure application page. On a regular basis, we update the fees and conditions of all share trading platforms in our database.

We're experts

We've researched and rated 40+ trading platforms and brokers as part of our Finder Awards. We've published 100+ guides, and our in-house experts regularly appear on Sunrise, 7News, and SBS News.

We're independent

Unlike other comparison sites, we're not owned by a bank, insurer, or broker. That means our opinions are our own, and you can compare nearly every share trading platform and broker in Australia on Finder.

We're here to help

Since 2016, we've helped over 300,000 Australians find the right stockbroking account by comparing fees and account features. We'll never ask for your personal information. We're here to help you make a decision.

Frequently asked questions

• What is the cheapest share trading platform in Australia?

  If you're looking to invest in the ASX then eToro is the cheapest trading platform at the time of writing, charging $0 commission. CMC Markets also offers $0 commission ASX trades on investments of less than $1,000.

  If you're looking to invest in the US, then Stake, eToro, IG, CMC Markets and Superhero all offer zero-dollar brokerage fees. Instead you'll pay currency conversion fees.

  According to Finder's latest Share Trading Awards, IG is the best low-cost broker because it offers $0 commission US stock trading, has a low currency conversion fee, the lowest ETF brokerage fee and ASX commission fees that start from $5, according to our database.

  If you want to compare cheap brokers, see our cheapest broker guide here.

• What is the best trading account for beginners?

  According to Finder's Investment Awards the best trading account for beginners is Douugh.

  Douugh is a set-and-forget-style platform. The platform has a number of features for newer investors including auto-invest, micro-investing and cheap brokerage fees which should all appeal to beginner investors.

  To compare with other platforms, check out our beginner comparison guide.

• What is the best trading account in Australia?

  CMC Markets is the best overall trading account in Australia, according to Finder's proprietary algorithm. With a combination of cheap brokerage, a range of options and markets, CMC ticks a lot of boxes when it comes to trading accounts.

  That being said, the best trading account will vary depending on your individual needs.

• What's the best ASX trading platform?

  CMC Markets is the best ASX trading platform, according to our latest analysis. With $0 brokerage on all ASX trades up to $1,000, live market data and strong research tools, CMC won our Best ASX Trading award.

• What is the best trading platform for cryptocurrency?

  eToro is the best share trading platform with direct access to cryptocurrency trading, according to our algorithm.

  But if you're looking to buy crypto directly from an exchange, Binance and Swyftx are rated as 2 of the best exchanges.

  To see a full list of our crypto winners see Finder Crypto Trading Customer Satisfaction Awards 2022.

• What online broker is best for penny stocks?

  Interactive Brokers is rated as the best online broker for penny stock trading thanks to its low fees for active trading, range of OTC stocks and technical analysis tools.

  You can read more about our methodology here.

• What is the safest trading platform?

  Any broker that is regulated by ASIC is likely to be safer.

  If you're looking for the safest trading platform, check out ASIC's site. It provides a full list of approved share trading platforms.

  ASIC has one of the strongest reputations in the world when it comes to trading. It is known for protecting and educating consumers.

  As such, an ASIC-regulated broker should be considered.

• What's the best CHESS-sponsored broker in Australia?

  CMC Markets is the best CHESS-sponsored broker in Australia according to our latest algorithm rating.

  It won 2 of our awards being Best Overall and Best Australian Stock Broker.

  When it comes to the cheapest CHESS-sponsored broker in our database, at the time of writing, that is Stake. Stake offers $3 brokerage for ASX CHESS-sponsored trades. CMC Markets also offers $0 brokerage on ASX CHESS-sponsored trades of less than $1,000.

• How much are stock broker fees?

  What you'll pay in brokerage fees will differ greatly depending on who you sign up with.

  As a general rule of thumb, finding a cheaper broker is usually better. However, you always match a broker to your individual needs.

  When it comes to trading the ASX, brokers are in 2 categories: CHESS-sponsored and custodian model.

  A CHESS-sponsored broker will cost more in fees, but the shares will be registered in your name.

  Under a custodian model, you still get all the same benefits of share ownership, but they will be in the broker's name.

  The fees for CHESS sponsors range from $3 through to $19.95 a trade.

  Custodian models can be free, depending on who you are trading with.

  When it comes to trading overseas it'll surprisingly cost you less. That is because none of these options have CHESS sponsorship.

  There are a number of brokers that'll have commission-free trading in the US. Although, you will pay a currency transaction fee instead.

• What is the best day trading platform?

  Interactive Brokers.

  IB's trading Workstation features, long list of global stocks, CFDs and forex and its low brokerage cost make it ideal for more experienced traders. You can read more about why we rate IB as the best platform for day trading in our methodology page.

• How much does it cost to sign up to a trading platform?

  For most share trading platforms, signing up won't cost you a thing.

  However, you will start paying fees once you begin trading. This is known as a brokerage fee.

  Watch out for additional fees such as inactivity and subscription fees.

• What are the best free trading platforms?

  No trading platform is truly free, but there are some brokers in Australia that offer $0 brokerage trading. These include the following:

  • eToro
  • IG
  • CMC Markets
  • Stake
  • Superhero
  • Goodments
  • Monex Securities

  Among the $0 brokerage platforms, CMC Markets is the only broker not to charge commission for ASX stocks (of less than $1,000).

• Which bank is best for share trading in Australia?

  CommSec.

  The oldest and largest share trading platform is the best among the Big Four banks according to our algorithm.

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.