Best investment accounts in Australia

What investment account types are there?

There are many ways that you can grow your money. Savings accounts, term deposits, superannuation, share trading and foreign exchange are all investment options that people use to increase their wealth.

Each type of investment comes with its own potential return and associated level of risk. As a general rule, the safest options offer the lowest returns, while the riskiest options have the potential for bigger returns.

We've divided your options into zero-risk or defensive investments (such as savings accounts and term deposits) and riskier growth-oriented investments (like stocks or forex) to give you an overview of your investing account options.

How to choose an investment account

As we've outlined above, the key difference between most investment account types is what they offer in terms of risk and potential returns.

For example, the stock market has historically had a better return than that offered on savings accounts, but it's also possible to lose money on stocks, while that isn't really possible with a savings account.

If you’re looking to earn more from your money, start by considering whether you’re comfortable taking a loss. If you aren't, that will automatically rule out the "growth" investment accounts like share trading and forex.

Other factors, such as investment size and horizon, also play a part in picking an investment account, as does the current macroeconomic environment.

When cash rates are low, keeping your money in a savings account may not represent the best risk and reward profile, while the opposite might be true when rates are high.

You may also want to consider diversifying your investments across a number of the investment accounts, and many experts would recommend exactly that.

One final thing to keep in mind is that you should always try to pay off your existing debts first before looking to invest.

Expert insight: How to pick an investment account

"Start by defining clear, realistic financial goals based on your risk tolerance and time horizon. From there, drill into how you are going to achieve those goals with your chosen investing strategy."

Dale Gillham

Chief analyst, Wealth Within

Defensive investments

Low- or zero-risk investments where your money is guaranteed include high-interest savings accounts and term deposits. With these kinds of investments, you'll make a small capital gain on your money with no real potential for loss.

In Australia, when it comes to savings accounts, your money is guaranteed by the government, up to the first $250,000 you have with a financial institution. This is a legacy from the global financial crisis but means today's savers' capital is secure regardless of what happens to the authorised deposit taking institution.

1. Savings accounts

Savings accounts are among the most widely used types of investment accounts by Australians because they're completely safe and your funds can be deposited or withdrawn at any time without hassle.

High-interest savings accounts offer the most competitive rates in the market.

Key features of a savings account

• Has no minimum deposit requirements
• Is an ongoing investment
• Earns income from interest payments based on the size of your cash deposit
• Sometimes pays bonus interest during an introductory period
• Allows your money to remain available to withdraw when you want
• Can be easily accessed online or at a bank branch
• Generally low or no fees

What are the potential downsides of savings accounts?

One of the biggest risks of savings accounts is the opportunity cost of not investing your money in an account with the potential for higher returns.

In Australia, interest rates remained relatively high throughout 2023 and 2024, but in February 2025 the RBA cut the official cash rate for the first time since 2020, followed by a second cut in May.

The cycle has since reversed, and the RBA has raised the cash rate several times in 2026. Savings rates tend to follow the cash rate, so they may rise when the RBA raises rates and fall when it cuts them, which changes how a savings account compares with other investments.

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Finder Score	Maximum interest rate	Base interest rate	Max rate type & duration	Monthly Max Rate Conditions	Table Description
Promoted Finder score 9.9 Excellent ING Savings Booster	Finder score 9.9 Excellent	Maximum Variable Rate p.a. 6%	Standard Variable Rate p.a. 2.25%	Intro/Ongoing 4 month intro rate	Monthly Max Rate Conditions Intro rate of 0.6% for 4 months for new ING savings customers (balance up to $500,000) Ongoing Boost rate of 3.15% (total 5.4%) with $100+ per month balance growth (excl. interest) (balance up to $500,000)		Go to siteView details Compare product selection Compare	loading
Promoted Finder score 9.8 Excellent AMP Bank GO Save	Finder score 9.8 Excellent	Maximum Variable Rate p.a. 5.5%	Standard Variable Rate p.a. 5.5%	Intro/Ongoing Ongoing rate	Monthly Max Rate Conditions No deposit or withdrawal conditions Balance $0 to $50,000		Go to siteView details Compare product selection Compare	loading
Promoted Finder score 9.7 Excellent Bankwest Easy Saver	Finder score 9.7 Excellent	Maximum Variable Rate p.a. 5.75%	Standard Variable Rate p.a. 5%	Intro/Ongoing 4 month intro rate	Monthly Max Rate Conditions No deposit or withdrawal conditions Balance $0 to $250k New accounts only	Competition: Enter draw to win 11.50% p.a. for 4 months up to $250,000 balance: NSW, VIC, QLD & WA 18+, T&Cs apply, consider PDS & TMD on website. Comp ends 30 Nov 2026. NSW TP/05238.		Go to siteView details Compare product selection Compare	loading
Finder score 9.3 Excellent Bank of Queensland Simple Saver Account	Finder score 9.3 Excellent	Maximum Variable Rate p.a. 5.35%	Standard Variable Rate p.a. 4.8%	Intro/Ongoing 4 month intro rate	Monthly Max Rate Conditions No deposit or withdrawal conditions Balance $0 to $5,000,000		Go to siteView details Compare product selection Compare	loading
Finder score 8.4 Great IMB Reward Saver Kick Start	Finder score 8.4 Great	Maximum Variable Rate p.a. 5.25%	Standard Variable Rate p.a. 0%	Intro/Ongoing Ongoing rate (conditions apply)	Monthly Max Rate Conditions No withdrawals Deposit $20+ each month Balance $0 to $100,000 Age 13-29	Cashback: Get $50 when you open a new account by 20 November 2026 and deposit $20 or more for 3 months in a row. T&Cs apply.		Go to siteView details Compare product selection Compare	loading
Finder score 9 Excellent Rabobank High Interest Savings Account	Finder score 9 Excellent	Maximum Variable Rate p.a. 5.9%	Standard Variable Rate p.a. 4%	Intro/Ongoing 4 month intro rate	Monthly Max Rate Conditions No deposit or withdrawal conditions Balance $0 to $250,000 New accounts only		Go to siteView details Compare product selection Compare	loading

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How the Finder Score helps you find a better savings account

The Finder Score is a simple score out of 10. The higher a savings account's score, the better we think it is for the average customer.

We score each savings account in our database of hundreds based on a data-driven methodology with 2 main criteria: Does the account offer a high interest rate? And is it easy for savers to actually earn that rate?

Read the full breakdown

2. Notice saver accounts

A notice saver is a relatively new product in Australia and a hybrid between a term deposit and a savings account. While your interest rate is variable as with a savings account, you can't access your funds immediately. Instead, you need to give notice of a month or more to withdraw your money. Notice periods are usually 30, 60 or 90 days.

Key features of a notice saver

• No term date, but requires that you give notice to withdraw funds, typically 30, 60 or 90 days
• Has a variable rate of interest which may benefit you
• Is an ongoing investment; funds are withdrawn to a linked transaction or savings account
• No minimum deposit usually required

What are the potential downsides of notice savers?

Notice Savers may potentially offer slightly higher rates than regular savings accounts, but come with the caveat that you can't access your money without seeing out the notice period.

While some investors may see this as a worthwhile trade off, for others it means they're giving up the flexibility of a savings account for potentially little in return.

Compare notice saver accounts

3. Term deposits

A term deposit is a set and forget investment. You agree to deposit your money for a fixed term and get paid a fixed amount of interest over the life of the investment. As a banking product, there is no risk that you will lose your funds. On the other hand, if interest rates go up and you're locked into a lower rate account, you risk being stuck in an underperforming investment.

Compare term deposit accounts

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Finder Score	3 Mths p.a.	6 Mths p.a.	10 Mths p.a.	12 Mths p.a.	24 Mths p.a.
Promoted 9.7 Excellent Judo Bank Term Deposit Finder Award $1,000 min. deposit $2,000,000 max. deposit	9.7 Excellent	3 Mths p.a. 4.90%	6 Mths p.a. 4.95%	10 Mths p.a. 5.05%	12 Mths p.a. 5.45%	24 Mths p.a. 5.45%	You can get competitive interest rates on all term lengths. This term deposit has a low minimum deposit amount and is a 2026 Finder Award winner.	Go to siteView details Compare product selection Compare	loading
Promoted 9.5 Excellent Bank First Term Deposit $500 min. deposit	9.5 Excellent	3 Mths p.a. 4.95%	6 Mths p.a. 5.30%	10 Mths p.a. -	12 Mths p.a. 5.50%	24 Mths p.a. 5.00%	Go to siteView details Compare product selection Compare	loading
Promoted 8.7 Great Newcastle Permanent Term Deposit $1,000 min. deposit	8.7 Great	3 Mths p.a. 4.50%	6 Mths p.a. 5.10%	10 Mths p.a. 3.60%	12 Mths p.a. 5.30%	24 Mths p.a. 4.25%	Go to siteView details Compare product selection Compare	loading
8.8 Great P&N Bank Money Maker Term Deposit $5,000 min. deposit $1,000,000 max. deposit	8.8 Great	3 Mths p.a. 3.75%	6 Mths p.a. 5.20%	10 Mths p.a. 3.60%	12 Mths p.a. 5.30%	24 Mths p.a. -	ContinueView details Compare product selection Compare	loading
8 Great BCU Bank Term Deposit $1,000 min. deposit $1,000,000 max. deposit	8 Great	3 Mths p.a. 4.00%	6 Mths p.a. 5.20%	10 Mths p.a. 3.55%	12 Mths p.a. 5.30%	24 Mths p.a. 3.45%	ContinueView details Compare product selection Compare	loading
9.6 Excellent AMP Bank GO Term Deposit $5,000 min. deposit $10,000,000 max. deposit	9.6 Excellent	3 Mths p.a. -	6 Mths p.a. 5.15%	10 Mths p.a. -	12 Mths p.a. 5.40%	24 Mths p.a. -	Go to siteView details Compare product selection Compare	loading
8.4 Great Greater Bank Term Deposit $5,000 $5,000 min. deposit	8.4 Great	3 Mths p.a. 4.50%	6 Mths p.a. 5.10%	10 Mths p.a. 3.60%	12 Mths p.a. 5.30%	24 Mths p.a. 4.25%	ContinueView details Compare product selection Compare	loading
8.9 Great Bankwest Term Deposit $1,000 min. deposit $10,000,000 max. deposit	8.9 Great	3 Mths p.a. 4.80%	6 Mths p.a. 4.40%	10 Mths p.a. 4.40%	12 Mths p.a. 5.20%	24 Mths p.a. 5.00%	ContinueView details Compare product selection Compare	loading
9.1 Excellent MyState Bank Online Term Deposit $5,000 min. deposit $50,000,000 max. deposit	9.1 Excellent	3 Mths p.a. 4.95%	6 Mths p.a. 5.00%	10 Mths p.a. 5.10%	12 Mths p.a. 5.25%	24 Mths p.a. 5.15%	ContinueView details Compare product selection Compare	loading
9 Excellent Rabobank Term Deposit (SMSF) $1,000 min. deposit $100,000 max. deposit	9 Excellent	3 Mths p.a. 4.85%	6 Mths p.a. 4.95%	10 Mths p.a. -	12 Mths p.a. 5.10%	24 Mths p.a. 5.00%	ContinueView details Compare product selection Compare	loading

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Finder Score for term deposits

Finder Score assigns Term Deposit products a score out of 10, comparing interest rates and features, to make comparison easier. We assess over 150 products from more than 90 providers, assessing products across different terms to determine an average score per product.

Read the full methodology

Key features of a term deposit

• Has a minimum deposit requirement higher than a savings account
• Requires you to lock your money away for a term ranging from 1 month to several years
• Pays a fixed rate of interest over the life of the investment
• Is a fee-free investment, though break fees apply for withdrawing funds before the end of the term
• Is available to both personal and institutional investors
• Is not an ongoing investment, but funds can be rolled over to another term deposit at maturity

What are the potential downsides of term deposits?

Like savings accounts and notice savers, the return you'll get from a term deposit is directly impacted by current interest rates. While term deposits offer a guaranteed return over an agreed period of time, they won't necessarily be the most effective way to invest your cash.

If you put your money in a term deposit and then interest rates rise, chances are you would have been better off leaving your money in a standard savings account with a variable interest rate.

Growth investments

Any investment held outside of a bank account will carry some kind of risk because funds aren't guaranteed by the government if a company collapse occurs. At the same time, there's an opportunity to make higher returns and the risk of a company collapse is low for many well established organisations – it's all about doing your research.

Non-banking investments include exchange-traded funds (ETFs), P2P funds, share trading, managed funds and portfolios offered by robo-advisors. The following investments offer varying levels of risk and won't be suitable for everyone. Click through to their respective guides for more information.

4. Peer-to-peer investing accounts

Peer to peer (P2P) lending investment accounts appear like a mash between bonds and savings accounts. They'll have the same face value as a term deposit but because they're non-bank investments, you don't have the same safety guarantee.

They offer a fixed rate – typically much higher than those of savings accounts or term deposits – and your funds are locked down for a specified term.

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Minimum deposit	Target return	Investment term	Available to everyday customers?
Plenti (Investing)	$10	up to 8.0% p.a.	1 month to 7 years	Yes	Plenti is a peer-to-peer lender that connects investors with borrowers.	View details	loading
SocietyOne	$100,000	Up to 8% p.a.	1 to 7 years	Yes	View details	loading
Marketlend	$1,000	Up to 13.4% p.a.	1 year	No	View details	loading

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Key features of P2P investing accounts

• Competitive return on investment typically higher than savings accounts or term deposits
• Investors take on a higher level of risk than with term deposits and there's no guarantee of a return
• Funds are locked away for a set period of time
• Your funds are being loaned to borrowers
• It's not an ongoing investment, but funds can be rolled over

What are the potential downsides of peer-to-peer investing?

P2P investing is still a relatively new sector and doesn't have the same level of government protection that a savings account would. While the return will likely be higher than a savings account, peer-to-peer investing has a different risk profile and it's possible to lose your money if the borrower fails to repay their loan.

5. Share trading accounts

Share trading accounts allow you to buy and sell stocks and other listed financial instruments – such as exchange-traded funds – by acting as an intermediary to the stock market.

With an online share trading platform you can buy and sell shares on your computer or mobile with lower fees than you'd normally get when you go through a personal full-service stock broker.

Compare share trading platforms

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Finder Score	AU Trading Fee	US Trading Fee	Asset Class
Promoted 9.6 Excellent Moomoo Share Trading Finder Award	9.6 Excellent	$3.00	US$0.99	ASX shares, Global shares, Options trading, US shares, ETFs	Trade major markets with built-in social trading tools.	$100 RewardT&Cs apply T&Cs apply Go to siteView details Compare product selection Compare	loading
Promoted 8.7 Great eToro Most Loved	8.7 Great	US$2.00	US$2.00	ASX shares, Global shares, US shares, ETFs, Cryptocurrencies	CFD service. Capital at risk. Trade a range of assets from a single account with access to social trading features.	$150 RewardT&Cs apply T&Cs apply Go to siteView details Compare product selection Compare	loading
Promoted 9.3 Excellent Tiger Brokers Finder Award	9.3 Excellent	$3.00	US$2.00	ASX shares, Global shares, Options trading, US shares, ETFs	Deposit any amount and receive $20 to trade in Tiger Brokers. Plus 4x zero brokerage trades and no FX fees on the first $2,000 you exchange every month. T&Cs apply. + Finder Rewards: Get this PLUS a $120 digital Visa gift card when you join Finder, sign up to Tiger Brokers, deposit $2,000 within 7 days and complete a qualifying BUY trade within 20 days. T&Cs apply.	Trade US, Asian and CHESS-sponsored ASX stocks, China A-class shares, plus US and Hong Kong options and ETFs.	$120 RewardT&Cs apply T&Cs apply Go to siteView details Compare product selection Compare	loading
9.8 Excellent Webull Finder Award	9.8 Excellent	$1.00	$0.00	ASX shares, Global shares, Options trading, US shares, ETFs, Cryptocurrencies	Earn up to 5,000 Qantas Points per month on international trades, plus 2,500 bonus points on your first international buy order with Webull. Min spend and T&Cs apply. + Finder Rewards: Get this PLUS a $150 digital Visa gift card when you join Finder, sign up to Webull as a new customer, deposit at least $2,000 in a single transaction and place at least 1 BUY order for a US-listed stock or ETF during the promotion period. T&Cs apply.	Invest in over 15,000 shares, options, and $0 Brokerage on all U.S. and Australian Chess-Sponsored ETFs.	$150 RewardT&Cs apply T&Cs apply Go to siteView details Compare product selection Compare	loading
9.3 Excellent IG Share Trading Finder Award	9.3 Excellent	$0.00	US$0.00	ASX shares, Global shares, US shares, UK shares, ETFs	Go to siteView details Compare product selection Compare	loading
9.9 Excellent CMC Invest Finder Award	9.9 Excellent	$0.00	$0.00	ASX shares, Global shares, Options trading, US shares, mFunds, ETFs, Cryptocurrencies	Trade 40,000+ listed securities across the local markets and 15 major global exchanges.	Go to siteView details Compare product selection Compare	loading

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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.

Read the full methodology

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.

Key features of share trading accounts

• Give you access to a wide range of investments including shares, ETFs and listed investment companies (LITs)
• Charge a brokerage fee when you trade shares
• Share trading has the potential for very high capital gains
• There is the potential to lose money if your investments perform poorly
• Is available for personal and institutional investors
• Can deposit and withdraw funds easily online

What are the potential downsides of share trading?

Investing in the stock market remains one of the most popular ways for people to invest their money but it's not without its risks. The price of stocks can go up and down and it's possible to lose money.

For example, the S&P 500 stock index, which tracks 500 of the largest companies on the US stock market, returned an impressive 24.23% in 2023. In 2022, it returned a worrying -19.44%.²

It recorded another strong year in 2024, returning 23.31%, which shows the volatility (both good and bad) that is possible in the stock market.

If you're planning to invest in stocks, it's recommended that you take a longer term outlook and make sure you do your due diligence before investing.

Over the long-term, the S&P 500 has averaged a return of around 10% a year.²

ETFs (exchange-traded funds) can be a good, low-cost way to invest in the stock market because they give you exposure to a group of companies with a single investment.

6. Robo-advisors

Robo-advisors are a relatively new service to Australia that let you invest in pre-built or professionally curated portfolios based on your financial goals and risk profile. They offer competitively low fees compared to standard investment advisers and competitive high rates of return.

Most robo-advisors are app-based, so they make it easy to deposit your funds into and monitor the performance of your portfolio from your smartphone. They also tend to offer a broad range of investment portfolio choices, from aggressive to conservative and across a wider range of assets.

Compare robo-advisors

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Fees	Minimum investment	Investment product	Number of portfolios
Spaceship Voyager	$3 a month (on accounts over $100)	$0	Stocks, Cash, ETFs	5	Invest in Australian shares, global shares and cash markets.	View details Compare product selection Compare	loading

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Key features of robo-advisors

• Low fee investment funds
• Matched to an investment fund based on your profile
• Easy to access and monitor online or on your mobile
• Broad range of investment fund options
• Can access Australian and international theme investments

What are the potential downsides of robo-advisors?

Robo-advisors can be handy for beginner investors looking to get started but they lack the flexibility of other investment accounts. For example, you generally can't invest in individual stocks via a robo-advisor, and are instead limited to the handful of prebuilt portfolios that may not match your investing goals.

The performance of these portfolios can also vary, especially those geared towards riskier investments like stocks.

While robo-advisors also offer low fees, they won't necessarily be the most cost-effective method for intermediate and experienced investors.

7. Forex trading accounts

Forex trading has the potential for both high gains and big losses. This is all due to leverage – when it goes well you can make money quickly, but equally you can lose your capital fast. In fact, up to 86% of forex traders lose money, according to analysis of data released by European forex brokers.³

Rather than buying shares for capital growth or investing into a high interest fund, forex traders speculate on the future price movements of international currency pairs. For this reason, forex is not "investing" in the traditional sense – rather it is trading.

Online forex accounts allow you to trade currencies from around the world from your computer or mobile. In exchange, you typically pay a commission or FX fee, known as the spread.

Compare forex accounts

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Minimum Opening Deposit	Commission	Minimum Trade Size (Lots)	Platforms
Pepperstone Forex Trading (Razor Account)	AUD 0	$0	0.01	MetaTrader 4 MetaTrader 5 cTrader TradingView Pepperstone Trading Platform	Disclaimer: CFD Service. Your capital is at risk. Choose from a range of fee-free funding methods, plus multiple trading tools including Smart Trader Tools for MetaTrader and cTrader platforms.	Go to siteView details Compare product selection Compare	loading
Go Markets Forex Trading	AUD 0	$0		MetaTrader 4 MetaTrader 5 GO TradeX™ TradingView cTrader	Disclaimer: CFD Service. Your capital is at risk.	Go to siteView details Compare product selection Compare	loading
Vantage Forex Trading	AUD 50	$0	0.01	MetaTrader 4 MetaTrader 5 TradingView Vantage app Vantage Web Trading	Disclaimer: CFD Service. Your capital is at risk. Spreads start from 0.0 on major currency pairs like AUD/USD, EUR/USD, GBP/USD and more. Plus you can places trades and find global trends through the TradingView charts platform. Trade with our RAW account with just $1 per lot each side	ContinueView details Compare product selection Compare	loading
Capital.com	AUD 20	$0	0	Capital.com web trading platform, Capital.com mobile trading app, MetaTrader 4, MetaTrader 5, TradingView	Disclaimer: CFD Service. Your capital is at risk.	ContinueView details Compare product selection Compare	loading
Plus500 Forex Trading	AUD 100	$0		Plus500 Trading Platform	Disclaimer: CFD Service. Your capital is at risk. Minimum spreads of 0.01% for major currencies. Customers should visit Plus500's website for updated spreads in real time. Open an account and experience Plus500's easy-to-use proprietary trading platform, 24/7 online chat support and free real-time forex quotes.	ContinueView details Compare product selection Compare	loading
CMC Markets	AUD 0	$0	0.01	CMC Markets Platform, MetaTrader 4, TradingView	Disclaimer: CFD Service. Your capital is at risk.	ContinueView details Compare product selection Compare	loading
Mitrade Forex	AUD 50	$0	0.01	Mitrade Trading Platform	ContinueView details Compare product selection Compare	loading
FOREX.com Forex Trading	AUD 150	$0	0.01	MetaTrader 4 At Pro Advantage Web	Disclaimer: CFD Service. Your capital is at risk. Choice of trading platforms, integrated Reuters news and device-synching so you can monitor trades across multiple devices.	ContinueView details Compare product selection Compare	loading
OANDA Forex Trading	AUD 0	$0	0.01	MetaTrader 4, fxTrade	ContinueView details Compare product selection Compare	loading
Blueberry Markets Forex Trading	USD 100	$0	0.01	MetaTrader4, MetaTrader5	Disclaimer: CFD Service. Your capital is at risk. Bottom of the market fees on forex, CFDs and commodities with 24/7 quality customer service.	ContinueView details Compare product selection Compare	loading
Hantec Markets Australia	AUD 0	$0	0.01		ContinueView details Compare product selection Compare	loading
Global Prime Forex	AUD 0	$0	0.01	MetaTrader 4 MetaTrader 5	ContinueView details Compare product selection Compare	loading
eToro Forex Trading	USD 50	$0	0.01	eToro Trading Platform	Disclaimer: CFD Service. Your capital is at risk. Social trading, advanced charting tools, plus receive exclusive benefits through the eToro Club (membership is tiered based on the equity in your trading account).	ContinueView details Compare product selection Compare	loading
ACY Securities Forex Trading	USD 50	$0	0.01	MetaTrader 4 MetaTrader 5 LogixTrader	Disclaimer: CFD Service. Your capital is at risk. Trade over 2,200 CFDs instruments across forex, shares, ETFs, indices, commodities, and cryptocurrency.	ContinueView details Compare product selection Compare	loading
AvaTrade Forex Trading	AUD 100		0.01	MetaTrader4 MetaTrader5 AvaTradeAct web trading AvaOptions AvaTradeGO Automated Trading	Disclaimer: CFD Service. Your capital is at risk. Enjoy minimum spreads of 0.01% for major currencies pairs as well as gain access to trading crypto currency pairs through Avatrade.	ContinueView details Compare product selection Compare	loading
ThinkMarkets Forex Trading	AUD 0	$0	0.01	MetaTrader4, MetaTrader5, ThinkTrader	Trading CFDs and forex on leverage is high-risk and losses could exceed your deposits. Trade forex, commodities and CFDs using MetaTrader4/MetaTrader5 platforms or access advanced analysis tools through ThinkTrader.	ContinueView details Compare product selection Compare	loading
Fusion Markets	AUD 0	$0	0.01	MT4, MT5, TradingView, cTrader	ContinueView details Compare product selection Compare	loading
easyMarkets Forex Trading	AUD 200	$0		MetaTrader 4	ContinueView details Compare product selection Compare	loading
Axi Forex	AUD 100	$0	0.01	MetaTrader4, MetaTrader4 Next Gen, Psyquation, AutoChartist, WebTrader, Axi-One ECN	Trading CFDs and forex on leverage is high-risk and losses could exceed your deposits. Axi uses the popular MT4 trading platform along with several free add-ons. Live chat, email and phone support available 24 hours a day, Monday to Friday. Important: Axi is undergoing a review by the Administrative Appeals Tribunal into a recent decision by ASIC to suspend its Australian financial services (AFS) licence. Until a final decision has been made by the Tribunal, AxiCorp can continue normal operations.	ContinueView details Compare product selection Compare	loading
IC Markets Forex Trading (Raw Spread account)	USD 200	$0	0.01	MetaTrader 4 MetaTrader 5 TradingView cTrader	Disclaimer: CFD Service. Your capital is at risk. Trade forex with tight spreads as low as 0.0 pips and fast execution of under 40 milliseconds on average.	ContinueView details Compare product selection Compare	loading

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Trading CFDs and forex on leverage is high-risk and you could lose more than your initial investment. It may not be suitable for every investor. Refer to the provider’s PDS and consider the risks before trading.

Forex trading account key features

• Forex trading requires specialist knowledge
• Can be opened by both personal and institutional investors
• You need to pay fees to the forex platform provider in the form of spread
• Typically gives you access to other investments such as commodities and CFDs
• Can leverage investments, which allows you to trade with more capital than you actually have. This can magnify both profits and losses

What are the potential downsides of forex trading?

Forex trading is a complex and fast-paced industry that is only suitable to experienced traders.

With forex trading, it's possible to lose all your money, especially if you use leverage or other advanced trading options.

Foreign exchange markets can be extremely volatile and even professional traders may struggle to beat the market.

Frequently asked questions

• What are investment accounts?

  Investment accounts are financial accounts specifically designed for investing in various assets such as stocks, bonds, managed funds or ETFs. Interest earning cash accounts may also be called a type of low or zero risk investment account. They offer a platform to grow your wealth over time through capital appreciation or income generation.

• What type of account is best for investing?

  If you're looking to invest in the stock market, a low-cost share trading account is probably the best option for those looking for a cost-effective way to buy shares.

• How to get a 10% return on investment?

  Unfortunately, no investment can guarantee a 10% return, and if it does, it's likely to be a scam. However, it is possible to make returns of 10% or more investing in the stock market or other riskier asset classes, but is unlikely to be possible via a savings account or term deposit.

• How much money do I need to invest to make $3,000 a month?

  At the moment you can get a return of up to 5% in a high interest savings account. To make $3,000 a month in interest (5% annually), you'd need to deposit about $720,000.

• How many investment accounts should I have?

  The number of investment accounts you should have depends on your investment goals, risk tolerance, and diversification strategy.

  Investment accounts are simply platforms to invest your money into different types of assets and it's generally a good idea to be invested in a diversified range of asset classes. For instance you might have a cash account, a share trading account and a managed fund account.

  In some cases, it may make sense to have multiple accounts for one asset. For instance, some share trading accounts will offer better deals for different types of stocks, so it can be cheaper to sign up to more than 1 platform.

  There's no limit to how many accounts you sign up to. That being said, some accounts will charge subscription fees and you'll also need to compile more documentation when it comes to tax time.

• How do I find lost investment accounts?

  Start by contacting your bank or financial institution where you initially opened the account. They can assist you in locating any dormant or forgotten accounts. Additionally, you can search the Australian Securities and Investments Commission's (ASIC) MoneySmart website for unclaimed money or use their online tools.

• How are investment accounts taxed?

  In Australia, investment accounts are subject to taxation based on the type of investment and the investor's personal circumstances. Capital gains tax (CGT) may apply when selling investments, while dividends and interest earned are subject to income tax.

  It's important to consult with a tax professional or refer to the Australian Taxation Office (ATO) guidelines to understand your specific tax obligations.

Written by

Kylie Purcell

Investments Analyst

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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. See full bio

Kylie's expertise

Kylie has written 167 Finder guides across topics including:

• Investment strategies
• Financial platforms
• Stockbrokers
• Robo advisors
• Exchange traded funds (ETFs)
• Ethical investing
• ASX stocks
• Stock and forex markets