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Finder Score for share trading platforms
We've scored over 30 share trading platforms assessing them for their core features, fees, customer experience and accessibility. Our experts give each platform a score out of 10.
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.
What's the best trading platform in Australia?
With dozens of share trading platforms in Australia, it's not easy to work out which one is best suited to you.
The best app for beginners is going to be very different to a platform that suits active or professional traders. Meanwhile, somebody that wants to invest in Australian shares and ETFs may have no interest in currencies trading or international markets.
The fees can also change depending on how often you trade in a month, a quarter or a year. In fact, recent Finder research found that the average share trader could save approximately $1,048 in brokerage fees a year by switching to a more suitable broker (calculated on 7 trades per month of $1,000).
It may even save money to have more than one platform. For example, you could have an app to trade US stocks, an app for ASX shares and another for currency markets.
What's your trading style?
There are many different kinds of share traders. Once you know which category 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.
This will influence the features you're looking for in an online broker. From the ease of use of the system through to the market research information available, it's important that the platform complements your trading needs.
Ask yourself the following questions to determine your trading style:
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. You'd want to look for platforms that offer low brokerage for high-frequency trading and an extensive range of trading features, such as charting tools and order options.
Am I a trader or an investor? Traders try to make money from share price movements by buying and selling stocks frequently – often several times in a day or week.
Investors use the "buy and hold" strategy by targeting quality companies they think will rise over a long time frame and possibly offer dividends. They may only buy and sell a few times in a year. Investors may find the inactivity fee more important than a stock analysis feature.
For traders, a low brokerage fee and advanced features are key. They might find the stock analysis feature more important than an inactivity fee.
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 and check the fees.
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. Depending on what your priorities are, you may wish to get a broker that offers all of the above or several different brokers – one 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.
How to compare online brokers
There are plenty of things you'll need to consider when looking at different 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:
The broker fees. Almost every online trading platform will charge you a brokerage fee (also called a commission fee) when you buy or sell shares, ranging from around $10 to $30 per trade. These fees may be calculated as a percentage of the transaction amount for larger trades and may also be lower depending on how frequently you trade.
Monthly fees. Some providers charge ongoing subscription or inactivity fees where you're charged if you make too few trades. This will especially be the case where a platform offers an extensive range of features for advanced traders.
What can you trade? Some trading platforms will not only give you access to Australian shares but also international shares. Others will also allow you to trade currencies, indices and much more, so look for this functionality if it's important to you.
Ease of use. Share market trading can be complicated and often requires you to respond quickly to market changes. With this in mind, look for a platform that allows you to make fast and precise trades with minimum fuss.
Access to market 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. Consider the options available when you're buying or selling shares. Can you place orders at market and/or at limit and are other order types such as stop/loss orders an option to add more flexibility to your trading?
Reporting. Check what reporting tools each platform offers to help you track how your trades are performing, record dividends and pass on any relevant information to the 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 and what measures are in place to ensure the safety of your funds?
What fees will I pay to trade shares?
There are 3 main fees that commonly apply when you use online share trading platforms – brokerage fees, monthly fees and foreign exchange fees if you trade global shares.
Brokerage fees vary greatly between providers but typically start at around the $10 to $20 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 will often charge a monthly fee that could be as high as around $80 per month. A number of brokers will 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 offer different features and therefore attract varying fees.
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.
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.
Kylie Purcell is an experienced investments analyst and finance journalist with over a decade of expertise in a wide range of financial products, including online trading platforms, robo-advisors, stocks, ETFs and cryptocurrencies. She is a sought-after commentator and regularly shares her insights on the AFR, Yahoo Finance, The Motley Fool, SBS and News.com.au. Kylie hosts the Investment Finder video series and actively contributes to the investment community as a judge and panellist. She holds a Master of Arts in International Journalism, a Graduate Diploma in Economics, and ASIC-recognised certifications in securities and managed investments.
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Tom Stelzer is a journalist with 6 years of experience covering personal finance, specialising in investment and cryptocurrency. With a Master of Media Arts and Production and a Bachelor of Communications in Journalism from the University of Technology Sydney, Tom provides expert analysis on digital assets and market trends, helping readers navigate the fast-evolving world of finance.
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Is market edge trading a legitimate company. I invested $311 AU in Bitcoin. Now they want me to put my drivers licence into Crypto Spend to get my money back. Am I being scammed?
Finder
KylieAugust 23, 2023Finder
Hi Annette,
There are a few platforms called Market Edge or MarketEdge – some are legit and others may not be. However, this certainly sounds suspicious. You should not have to open another account or provide further ID in order to get your money back. To be safe, do not send any more money and report the situation to your bank and any other financial service providers you’ve used to transfer funds into their account. Check out ACCC’s Scamwatch for more information and to make a report: https://www.scamwatch.gov.au/report-a-scam
MichaelAugust 1, 2023
How much does it cost to start buying shares is it better to buy in one company or several different ones to broaden chances of profit just wanna figure out what’s best for me
Finder
SarahSeptember 4, 2023Finder
Hi Michael,
You can invest from as little as a few dollars using a platform like Sharsies, and it depends on your investment strategy and goals as to whether you decide to invest in one company or diversify into a number of companies.
what is the best way, in a once only encounter, to sell the shares in a deceased estate?
Finder
KylieJuly 20, 2023Finder
Hi Michael,
That will depend on how the shares were purchased and are registered. If you know the name of the broker that was used to purchase the stocks, you can in most cases organise a sale or transfer to another broker directly through them. The cost and complexity of this will vary from broker to broker. If the shares are issuer sponsored, you’ll need to organise a sale or transfer through the share registry. There are various share registries and again the cost will depend on which registry the stocks are with. Unfortunately, you may have to do a little digging to find the best and most cost-effective way for your specific circumstances. Our guide to selling shares may help: https://www.finder.com.au/how-to-sell-shares.
BarryJuly 19, 2023
I am looking to invest for my granddaughter who has around $10000 – $15000
Long term investment in blue chip shares
Finder
KylieJuly 20, 2023Finder
Hi Barry,
We cannot offer personal financial advice or stock picks. However, if you’re interested in Australian blue chip shares you might want to start by researching stocks within the S&P/ASX 20 list. These are the biggest companies in Australia: https://www.finder.com.au/blue-chip-stocks. Another option is to look at ETFs as these let you invest in a whole portfolio of stocks and can be less risky than buying a few individual stocks. Look for ETFs that offer a collection of blue chip stocks or that track a broad market index, such as the S&P/ASX 200 or the S&P 500 (for US stocks).
JohnJuly 9, 2023
what can you tell me about 4X.fm webtrader
Finder
KylieJuly 14, 2023Finder
Hi John,
4X.FM appears to be an unregistered and unlicensed CFD broker. CFDs are complex and risky derivatives products that are used to speculate on the price movements of various underlying assets, including stocks and crypto. It’s worth pointing out that with CFDs you never actually trade or own the physical asset. For this reason, CFDs are best suited to experienced traders, and in fact most CFD traders lose money.
More importantly, before signing up to any trading platform, make sure it holds an AFSL license and is regulated by ASIC as this will ensure you’re protected and avoids scam websites. You can check ASIC’s registers here: https://asic.gov.au/online-services/search-asic-s-registers/. If you’re still interested in trading CFDs, here is a list of ASIC regulated brokers: https://www.finder.com.au/cfd-trading
Just 5 years ago, few investors took cannabis stocks seriously; today, as billions of dollars pour into the sector, few doubt that it will be one of the next big disruptors.
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Is market edge trading a legitimate company. I invested $311 AU in Bitcoin. Now they want me to put my drivers licence into Crypto Spend to get my money back. Am I being scammed?
Hi Annette,
There are a few platforms called Market Edge or MarketEdge – some are legit and others may not be. However, this certainly sounds suspicious. You should not have to open another account or provide further ID in order to get your money back. To be safe, do not send any more money and report the situation to your bank and any other financial service providers you’ve used to transfer funds into their account. Check out ACCC’s Scamwatch for more information and to make a report: https://www.scamwatch.gov.au/report-a-scam
How much does it cost to start buying shares is it better to buy in one company or several different ones to broaden chances of profit just wanna figure out what’s best for me
Hi Michael,
You can invest from as little as a few dollars using a platform like Sharsies, and it depends on your investment strategy and goals as to whether you decide to invest in one company or diversify into a number of companies.
This article might help you work out the best place to start:
https://www.finder.com.au/share-trading
Hope this helps!
what is the best way, in a once only encounter, to sell the shares in a deceased estate?
Hi Michael,
That will depend on how the shares were purchased and are registered. If you know the name of the broker that was used to purchase the stocks, you can in most cases organise a sale or transfer to another broker directly through them. The cost and complexity of this will vary from broker to broker. If the shares are issuer sponsored, you’ll need to organise a sale or transfer through the share registry. There are various share registries and again the cost will depend on which registry the stocks are with. Unfortunately, you may have to do a little digging to find the best and most cost-effective way for your specific circumstances. Our guide to selling shares may help: https://www.finder.com.au/how-to-sell-shares.
I am looking to invest for my granddaughter who has around $10000 – $15000
Long term investment in blue chip shares
Hi Barry,
We cannot offer personal financial advice or stock picks. However, if you’re interested in Australian blue chip shares you might want to start by researching stocks within the S&P/ASX 20 list. These are the biggest companies in Australia: https://www.finder.com.au/blue-chip-stocks. Another option is to look at ETFs as these let you invest in a whole portfolio of stocks and can be less risky than buying a few individual stocks. Look for ETFs that offer a collection of blue chip stocks or that track a broad market index, such as the S&P/ASX 200 or the S&P 500 (for US stocks).
what can you tell me about 4X.fm webtrader
Hi John,
4X.FM appears to be an unregistered and unlicensed CFD broker. CFDs are complex and risky derivatives products that are used to speculate on the price movements of various underlying assets, including stocks and crypto. It’s worth pointing out that with CFDs you never actually trade or own the physical asset. For this reason, CFDs are best suited to experienced traders, and in fact most CFD traders lose money.
More importantly, before signing up to any trading platform, make sure it holds an AFSL license and is regulated by ASIC as this will ensure you’re protected and avoids scam websites. You can check ASIC’s registers here: https://asic.gov.au/online-services/search-asic-s-registers/. If you’re still interested in trading CFDs, here is a list of ASIC regulated brokers: https://www.finder.com.au/cfd-trading