Our top pick for
Best for day trading
![Webull image](https://www.finder.com.au/niche-builder/63aa91c33eb20.jpg)
Australia's largest and most well known online broker might be CommSec, but that doesn't mean you have to sign up with them.
In 2024, there are literally dozens of share trading platforms in Australia for you to choose from.
Each broker has its pros and cons when it comes to available markets, trading tools and costs. So it's a good idea to compare your options before deciding on the trading platform that meets all your investment requirements and offers the best value for money.
Below we've listed some online trading platforms for you to consider. Like CommSec, these brokers offer Australian and global shares as well as a good selection of trading and research tools.
Our top pick for
Best for day trading
Our top pick for
Education & learning
Our top pick for
Australian stocks
As you can see from the profiles above, brokerage fees range from as little as $0 to around $20 per trade, but there are almost always caveats. As a comparison, CommSec's brokerage fees start at $5 per Internet trade, but that's only on trades of up to $1,000. Here's a rundown of what CommSec charges for Australian shares (as of July 2023):
You'll find most trading platforms have some kind of tiered system, usually based on the amount you're trading and how often. For example, using CMC Invest's classic account, you'll be charged $$0 or 0.1% (whichever is higher), though this fee falls to $9.90 or 0.08% for the 11th to 30th trade and $9.90 or 0.075% on the 31st+ trade.
Brokerage and commission fees aside, you should also consider whether the platform charges an inactivity fee. Although IG charges just $$8 per trade, its inactivity fee of won't suit everyone. Similarly, CMC Invest will charge a monthly fee of $15 if no trades have been conducted.
CommSec has relatively high brokerage fees for international stocks and ETFs compared to others. Here's a basic breakdown of CommSec's fees:
Aside from CommSec, eToro, Westpac, IG, nabtrade, Saxo Invested and CMC Invest all offer global share trading options. Among these, IG, CMC Invest and eToro feature $0 brokerage for global stocks.
IG offers similar brokerage fees at $US US$0 for US stocks, £10 or 0.1% for UK and €10 or 0.1% for Germany. Other platforms, Selfwealth and Bell Direct do not offer access to global shares.
Like CommSec, all of the trading platforms listed on this page can offer secure and reliable trading solutions.
Some people prefer the peace of mind of dealing with an institution they know and trust.
The financial services royal commission not withstanding, a trading platform provided by one of the Big Four banks makes for a convincing argument. However, IG Markets, Selfwealth and Saxo Invested are also well-established and regulated names in the Australian share trading industry.
Each trading platform has a raft of security measures in place to ensure the safety of your funds and your security details. For example, IG Markets and Saxo Invested both keep all client funds fully segregated with top-tier Australian banks as required by the Australian regulator. Westpac Online Investing also offers 128-bit encryption when trading.
When it comes to making your final share trading account decision make sure you know what's most important to you. Do you most value low brokerage costs, a wide range of international share markets or in-depth broker market analysis?
It's also essential you go through all of the fine print located in the broker's financial services guide (FSG). Note any asterisks that might lead to some type of fee that might affect your trading size or style.
If you still have questions about share trading, use our main guide to compare online share trading accounts in further detail.
Share trading platform news: July 2024
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Just letting you know, your link to Westpac actually takes you to General Pants Co
Hi David,
Thanks kindly for your comment. We have now made the corrections.
Cheers
Clarizza