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There is no single trading platform that will fit all your needs or perfectly fit your individual circumstances. Keep in mind that we don't compare every product on the market. But we hope our information and trading tool will allow you to compare options and help you find the best trading account for you. To find out more about how we selected our 'best trading platforms', head to our methodology guide.
Are you new to investing and looking for a share trading platform? The best share trading platforms will largely differ based on what you are trying to achieve.
How we selected the best trading apps for beginners
To help beginners out, we sourced a list of top brokers for beginners using Finder's proprietary algorithm. Here are some of the features we included in our methodology that we thought were important for beginner investors:
Low brokerage fees for small investment amounts. You want to build your investment portfolio over time and there's no better way than to start small and add consistently. As such, if you're a newer investor you might want to find a fund has low fees and allows for smaller trading limits
Low brokerage on just 1 trade or less per month. Lowering the fees you pay is a great way to increase your returns. But be warned, some accounts will charge you more if you don't constantly trade. Beginner investors should avoid these accounts.
Low brokerage for ETFs. If you're looking to buy low cost ETFs some brokers will charge you less. This can be advantageous for long-term, low volume ETF investors.
No inactivity fee. Again, lowering your fees is important. An easy way to avoid paying unnecessary fees is to make sure your broker isn't charging you for inactivity.
Fractional investing. If you're starting out small, finding a broker that lets you buy fractional shares can help you gain access to the market without having to save for an entire share.
An online demo. It might sound simple enough, but learning the basics of how to invest is important. As such, an online demo can help beginners get ahead.
Educational or training content. If you want to improve your investing skills, education and training content is a great place to start. Some brokers will provide this information for you.
User-friendliness. Our editorial team gave platforms a rating based on how easy they were to navigate and place a trade.
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
Invest from $1
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 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 Inactivity fee: $0 Currency conversion fee: 60 bps of trade value
2. Superhero: Best for long-term investing (Finder Awards)
Superhero came to market in early 2021 with a low cost user-friendly product that made it an instant hit. A lot of its key features are great for beginner investors. These include being able to start investing from just $10 a trade (compared with the usual $500), $0 brokerage on ETF purchases and US trading and it's auto-investment feature.
Low brokerage. Superhero offers a $5 (flat) brokerage for ASX shares and $0 for ETFs and US stocks.
Low minimum investment. You can invest from $10 at a time, rather than the standard $500 for ASX stocks.
User-friendly. The design is minimalistic and simple enough for beginners to pick up and enjoy.
Live data. It offers live stock prices for no extra cost.
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 (as of 2023).
Brokerage fees: AU stocks: $5 US stocks: US$0 UK stocks: Not available 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)
3. Douugh: Best overall for beginners (Finder Awards)
Douugh offers beginners a simple and easy-to-use platform with low fees and a few very handy tools. Among its stand out features includes its automated investment feature that lets you set up a recurring payment into a portfolio, stock or ETF of choice. Or you can buy US stocks directly from just $1 per trade. Perfect for beginners that don't want any of the fuss.
$0 brokerage trades.
Set recurring automated investments
Easy to use platform
Invest in read-made portfolios or directly buy stocks
Invest from just $1
No Australian stocks or ETFs, US only.
Limited trading tools.
$4.99/month account fee
Brokerage fee per trade: AU stocks: Not available US stocks: $4.99/28 days with unlimited trades ($0 if you make no trades) UK stocks: Not available Inactivity fee: $0 Currency conversion fee: 0.99% of trade value
Pearler's intuitive platform makes investing a breeze, with some excellent tools such as its micro-investment feature where you can round up and invest your spare change into your portfolio of choice. It's the perfect combination for investors that want to set a 'set and forget' strategy with automated investments, alongside the ability to directly purchase Australian and US stocks and ETFs.
$0 brokerage ETF purchases.
CHESS-sponsored shares available. .
Easy to use platform.
Headstart app designed for parents to invest with their kids.
Aus and US shares only.
There are no advanced trading features available, such as technical analysis charts.
Brokerage fees cheaper on some other platforms.
Brokerage fees AU stocks: $6.50 US stocks: US$6.50 Inactivity fee: $0 Currency conversion fee: 0.50% of trade value
5. Sharesies: Investing from a few cents into ASX and NZX stocks
Start investing for less with Kiwi broker Sharesies. Aimed at removing barriers to entry for investors, Sharesies allows you to start with as little as 1 cent. You can invest in the Australian, New Zealand and US markets, and it also has an auto-invest function to make sure you never miss a trade.
Novice investors.
Access to Australian and international shares and ETFs.
Ease of use.
No minimum investment.
Experienced traders might prefer platforms with more-advanced features.
Not for investors looking for an all-in-one trading platform.
Brokerage fees Sharesies offers 2 fee structures to choose from - ‘pay as you go’ and ‘monthly’ plans.
Pay as you go: 1.9% transaction fee on investments, capped. Aussie Shares: $6 AUD per transaction US Shares: US$5 per transaction NZ shares: NS$25
Monthly Plans: $5/month: Covers up to $500 orders with fees included. $10/month: Covers up to $1,000 orders with fees included. $20/month: Covers up to $3,000 orders with fees included.
Other markets: Details here Inactivity fee: $0 Currency conversion fee: 0.60% of trade value
Beginners need to know their investment style
There are many different kinds of share trading and beginner investors should try to work out what works best for them prior to signing up to a new broker.
Investors can either be passive or active and they can choose to trade between exchange-traded funds or individual shares.
The category you fall into will greatly determine what type of broker you should sign up with.
So before signing up ask yourself the following questions:
Am I an active trader or investor?
There's a distinct difference between trading and investing. Traders try to make money from stock movements, while investors try to buy quality businesses for the long-term.
When it comes to beginners most should favour investing. This is because actively trading is incredibly complex and comes with more risk.
Regardless, you would need a broker that matches your style.
For traders, a low brokerage fee and advanced features are key. They might find trading tools more important than an inactivity fee.
While an investor might only buy once or twice a year meaning they need a broker without inactivity fees, but they might want features including broker recommendations.
How will I place trades?
Will you be placing all your trades online, via a mobile app or over the phone? It is important that your broker's services match your individual needs.
Where will I be buying shares?
Some investors choose to focus exclusively on the Australian market while others want broad exposure to the world. Before signing up to a broker it is important to know what you can buy with each. Most brokers will charge different fees depending on location, which can impact your decision.
How much money am I trading?
Brokers fees will largely vary depending on how much you are investing. This means you should find a broker that matches your needs. If you have a small balance you want a broker that lets you trade with less. If you have a large balance try to avoid a percentage based fee.
Why is there so much focus on fees?
When you sign up to a share trading platform you'll be facing various types of fees. The more you pay in fees the less you'll end up pocketing from your investments.
They range from:
Broker fees. This is the fee that is charged every time you buy and sell shares. Brokers charge different fees depending on the product you're trading, the size of the trade you make and how often you trade per month. Monthly fees. Some brokers are more aimed at active traders and will charge a subscription or inactivity fee for those who trade less. This may or may not suit you depending on your trading requirements. Foreign exchange fees. This one is for investors buying shares overseas. If you're interested in trading global stocks, you'll want to check what the foreign exchange (FX) fee is for converting your Australian dollars to the foreign currency of choice.
Share trading platform news: December 2023
Australian trading platform Superhero has added a new AI feature that quickly summarises ASX company announcements selected by users.
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.
This varies greatly depending on the broker you choose. Some will let you start trading from as little as 1 cent, while others will need you to have a minimum of $500. If you are looking for CHESS sponsored shares (explained in our glossary here) you will need at least $500 before starting.
According to Finder's latest analysis (June 2023), the best broker for beginners is Douugh thanks to its low fees, low minimum investment and auto-invest feature. However, it largely depends on your individual style and needs. Generally speaking a low cost broker with an easy to use platform will work for most new investors.
You can, but it will again depend on the broker you choose. Syfe, Superhero, Douugh, Pearler and eToro are all examples of platforms where you can invest less than $100 per trade.
Cameron Micallef is a utilities writer for Finder. He has previously worked on titles including Smart Property Investment, nestegg and Investor Daily, reporting across superannuation, property and investments. Cameron has a Bachelor of Communication and Media Studies/ Commerce from the University of Wollongong. Outside of work Cameron is passionate about all things sports and travel.
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Hi Eugene, the right platform for you will depend on your preferences and circumstances. However if you prefer to invest small amounts without selecting the assets yourself, you could choose a robo-advisor or invest into a ready-made portfolio. Platforms that offer pre-made portfolios include eToro, Douugh, CommSec Pocket and Spaceship.
I have invested with Trytrade but they have disappeared with my money. Now I would like to find another platform where I won’t have anything to do just put the money and let the platform works for me as it was with Trytrade.
Hi Louis,
I’m sorry to hear about your losses with Trytrade. To avoid scam investment platforms, make sure the company is registered with your local regulator – in the case of Australia that’s ASIC. You can check the organisation has an Australian financial services (AFS) licence here: https://asic.gov.au/online-services/search-asic-s-registers/#companies If you’re looking for a platform where you can passively invest without doing any of the trading yourself, you might want to go with a robo advisor (check out our guide: https://www.finder.com.au/robo-advice) or a platform that offers pre-made investment portfolios, such as eToro, Douugh, Spaceship or Pearler.
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hey what type of auto trading suits a beginner that just wants to not be a stockbroker but wants to invest $50 an let the algorythem do the trades
Hi Eugene, the right platform for you will depend on your preferences and circumstances. However if you prefer to invest small amounts without selecting the assets yourself, you could choose a robo-advisor or invest into a ready-made portfolio. Platforms that offer pre-made portfolios include eToro, Douugh, CommSec Pocket and Spaceship.
I have invested with Trytrade but they have disappeared with my money. Now I would like to find another platform where I won’t have anything to do just put the money and let the platform works for me as it was with Trytrade.
Hi Louis,
I’m sorry to hear about your losses with Trytrade. To avoid scam investment platforms, make sure the company is registered with your local regulator – in the case of Australia that’s ASIC. You can check the organisation has an Australian financial services (AFS) licence here: https://asic.gov.au/online-services/search-asic-s-registers/#companies If you’re looking for a platform where you can passively invest without doing any of the trading yourself, you might want to go with a robo advisor (check out our guide: https://www.finder.com.au/robo-advice) or a platform that offers pre-made investment portfolios, such as eToro, Douugh, Spaceship or Pearler.