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.
You're not alone. Around 1 in 3 Australians (34%) have bought shares, according to Finder data, and 14% of young people are looking to start investing for the first time this year.1
But how do you pick a trading platform when you're just starting out?
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.
We've focused on things like educational resources, low fees, ease-of-use and features like auto-investing and fractional shares. However, if you're planning on just buying and holding stocks or ETFs, you may find another it's more cost effective to use another trading platform.
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), useful tools such as live market data and auto-invest plus an Australian customer service team.
Low brokerage on ASX 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 2024).
Brokerage fees: AU stocks: $2 for trades up to $20,000, 0.01% for trades over $20,000 US stocks: US$2 UK stocks: Not available ETF brokerage fees: AU ETFs: $2 for trades up to $20,000, 0.01% for trades over $20,000 US ETFs: US$2 Inactivity fee: $0 Currency conversion fee: 65 bps
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.
AU 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.
Trading platforms in Australia (2024 update)
Variety of trading platforms. There are over 35 ASIC-regulated share trading platforms available to Australians, with at least 10 of them having launched after 2020. The platforms cater to a range of investors, from casual traders to active day traders and long-term investors.
Fees and charges. Most platforms charge a brokerage fee for each transaction, with additional fees like monthly fees or inactivity fees also being common. The average brokerage fee to purchase $1,000 of stock from an ASX-listed company is around $11, and for US stocks, it's approximately $10.70, with several platforms now offering $0 brokerage fees for US stocks​.
Introduction of new features: Several Australian trading platforms have introduced innovative features aimed at beginners, such as enhanced educational resources and simplified trading interfaces. These enhancements are designed to make the trading process more accessible and less intimidating for those new to the market.
What type of investments are offered on trading platforms?
Beginner-friendly trading platforms generally offer the following types of investment options:
Please note that the specific investments available to trade, such as individual stocks, will vary between platforms and if you have a certain investment in mind it's worth checking which platforms list it when comparing.
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.
FAQs
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 Investment Awards the best trading account 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 was a utilities writer for Finder. He 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. See full bio
Cameron's expertise
Cameron has written 177 Finder guides across topics including:
If you’re thinking of investing in gold, our guide will explain how and where to buy gold in Australia as well as the pros and cons of investing in it.
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
Finder
KylieJuly 4, 2023Finder
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.
LouisJune 22, 2023
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.
Finder
KylieJuly 4, 2023Finder
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.