Interactive Brokers was the best platform for international stock trades because of its long list of available overseas markets, cheap global brokerage fees and low currency conversion fees. It also has a number of markets not typically available through Australian brokers, such as Chinese, Mexican, Israeli and over-the-counter (OTC) stocks.
CMC Invest also made the list thanks to its $0 brokerage offer for some global stock trades, while Totality impressed with its combination of available markets and its low $1 brokerage for US stocks.
To determine the best trading platforms for global, Australian and US equities, we compared the fees and features relevant to each specific market.
For instance, we up-weighted the costs of trading US stocks for the Best for US Stocks award, while the Australian and global equities categories were up-weighted for ASX and global equity trade fees.
Features included in the weightings were:
Stock and ETF trading fees for US, global and ASX trades
The number of available global stock markets
Foreign exchange fees
Subscription or inactivity fees
Trading features such as conditional orders and fractional stocks
Availability of educational resources or training options
Access to a demo account option
Its range of trading tools, including news, research tools and technical analysis charts
Available support options
Availability on both desktop and mobile
For more information on how we determined our finalists, check out our full methodology.
We currently don't have that product, but here are others to consider:
How we picked these
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.
Key takeaways
Some of the biggest stocks in the world are only available through international exchanges
Many trading platforms and brokers let you buy global shares
Some platforms charge no trading fees on global stocks, but you will need to pay a currency conversion fee
What is an international share trading platform?
An international share trading account allows Australians to trade shares in global companies instead of being limited to companies listed on the Australian Securities Exchange (ASX).
For example, Alphabet (Google's parent company) is listed on the US stock exchange Nasdaq. So if Australians wish to buy Alphabet shares, they’ll need to do this via an international share trading platform.
Which global stock exchanges can I access?
The global markets available will vary between platforms, so it's best to check if a provider can access the particular stock exchange you're looking for before you open an account. However, most international share trading platforms will provide traders access to the following major global exchanges and more:
Australia – The Australian Securities Exchange (ASX)
United States – The New York Stock Exchange, Nasdaq
United Kingdom – London Stock Exchange
Europe – Euronext
Asia – Japan Exchange Group, Shanghai Stock Exchange, Hong Kong Stock Exchange
Finder survey: Have Australians of different ages bought overseas stocks?
Response
75+ yrs
65-74 yrs
55-64 yrs
45-54 yrs
35-44 yrs
25-34 yrs
18-24 yrs
Australia
29.85%
23.43%
24.69%
25.56%
23.29%
28.11%
12.63%
Other
5.97%
4%
1.23%
0.56%
0.4%
1.05%
US
2.99%
4%
7.41%
12.22%
12.05%
9.22%
7.37%
NZ
1.49%
0.57%
1.61%
1.84%
UK
1.49%
1.14%
3.09%
1.11%
1.2%
1.84%
1.05%
China/Hong Kong
0.57%
0.62%
0.56%
3.21%
1.38%
2.11%
Europe (EU)
0.57%
1.23%
2.01%
1.38%
1.05%
Canada
1.23%
1.67%
1.2%
1.38%
1.05%
Japan
0.62%
0.56%
2.01%
1.84%
1.05%
India
0.56%
0.4%
0.92%
1.05%
Singapore
0.56%
1.61%
0.92%
1.05%
Africa & Middle East
1.05%
Source: Finder survey by Pure Profile of 1145 Australians, December 2023
What are the benefits of international share trading?
Some of the major benefits of international share trading include the following:
Access more shares. The Australian share market only represents around 2% of the world's shares. International share trading allows you to access thousands of global shares that you wouldn't have access to if you were trading on the ASX alone.
Invest in major global brands. You can invest in shares of major global companies such as Meta (Facebook's parent company), Tesla, Amazon, PayPal, Google and Apple.
Diversification. Investing in global stocks as well as local Australian shares will ensure your portfolio is more diversified. Remember, if you live in Australia, work in Australia and own a home in Australia, by default you are incredibly exposed to the country's economy. An internationally diversified portfolio will help protect you from any major dips in the Australian market.
24/7 trading. You can trade 24 hours a day rather than being restricted to set hours.
Cheaper brokerage. Depending on where you trade, it can be cheaper to buy overseas shares than to invest in Australia.
International share trading fees
Trading international shares can incur different fees and commissions than what you would pay when trading Australian shares.
When you trade global shares the two most common costs are brokerage (commission) and foreign exchange fees. The commission fee is what you pay to the brokerage for executing the trade while the foreign exchange fee is charged to convert your AUD into the currency of the stock you're trading. For instance, if you buy US stocks, you'll need to do that using USD.
Foreign exchange fees are usually a small percentage of your trade size. They're usually charged as either pips or basis points (bps).
Here's an idea of the commission fees you can expect to pay when trading shares on the New York Stock Exchange or the London Stock Exchange.
Provider
New York Stock Exchange Brokerage Fee
London Stock Exchange Brokerage Fee
Australian Seccurities Exchange
IG Share Trading
US$0
£0
$5
Totality
US$1
£8
$3
CommSec International Trading Account
US$5
US$39.95 or 0.40%, whichever is greater
$5
Other fees you might pay to trade international stocks include:
Admin fee. Some providers charge a registration fee, an ongoing membership or an admin fee to use their brokerage services.
Market fees. These are charges or fees for trading in a particular market. For example, trades in the US are subject to SEC fees and trades in the UK attract a stamp duty charge. Local exchange fees can also apply.
Custody fees. This is typically an annual fee which is charged as a percentage of your overall portfolio.
How to find the best international share trading platform
When you’re comparing international share trading accounts, make sure to consider the following features:
Brokerage fee: This is a commission for executing a trade and is a flat fee or a percentage charge, whichever is greater. Providers charge a brokerage fee per trade. Some may even offer free brokerage deals.
Available markets: Where can you trade? Almost every provider can give you access to the US, but not all platforms let you trade in some areas of Asia and Europe.
If you can trade options: Consider whether you can trade ETOs and ETFs alongside shares and in which markets. Only some international share trading accounts let you trade options.
Execution speed: Check how long it takes for funds to clear and execute the trade.
The buffer: The account provider will take a couple of percentage points extra as a buffer against international currency fluctuations. This happens in the time it takes for the trade to clear.
Foreign exchange fee: Also called the currency conversion fee. The account provider will often charge a bit extra on top of the real currency exchange rate to make a profit when converting Australian dollars to a foreign currency and vice versa.
Trading platform: Is smartphone compatibility with a mobile app an important feature or are you happy with a browser-based platform? Either way, the trading platform should be easy to use. You should also be able to access account services such as tax, profit and loss, and dividend reporting tools quickly and easily.
Registration fees: Are you required to pay a registration or membership fee to open an international share trading account?
Education and research tools: Check which market tools and resources you can access to educate yourself about different companies and foreign markets on offer. Fundamental analysis and charting tools are key to making better trades.
Customer support: Can you contact the provider outside business hours? Do they provide a dedicated account manager for clients?
How do I open an international share trading account?
You can apply for an international share trading account online in less than 15 minutes. Compare accounts in the table above and click on the site to begin your application.
Eligibility
Application requirements can vary between different international share trading account providers. Generally, eligibility requirements for personal applicants will include the following:
Be over the age of 18
Have an Australian residential address
Have a valid contact number
Documentation and ID needed
If you’re a new customer to the share trading platform, you’ll need to verify your identity before you can begin to make trades. Have the following information on hand when you start your application for a share trading account.
Photographic identification such as your passport, driver’s licence or proof of age card
Your tax file number (TFN) or exemption code (optional)
Companies, organisations and trusts must be registered in Australia and lodge a US Withholding Tax Treaty Statement to trade in the United States. If you’re opening the account in the name of a trust or company, you’ll also need to supply the following:
Australian company number (ACN)
Australian business number (ABN)
What are the risks of international share trading?
International stock exchanges give you access to many more investment options than those listed on the Australian Securities Exchange (ASX). However, it can carry a few more risks than the domestic market, such as foreign exchange rate risks, liquidity risks and risks from changes in foreign governments.
Here are some things to be aware of:
Exchange rate volatility. You will need to convert Australian dollars into a foreign currency to buy shares listed on an international stock exchange. When you convert the money back to Australian dollars, there’s a risk the exchange rate will be worse than when you purchased the foreign currency. This could offset the profits you've made on your shares.
Liquidity. You can only realise capital gains (or losses) after settling a sell order. Overseas stock exchanges can have fewer participants and a lower trading volume. So if you’re trading on a small international stock exchange, there’s a chance you may not be able to find a buyer for your shares and will have to sell at a significant discount.
Foreign policy. Just as the Australian government’s policies can impact your bottom line, overseas governments can introduce policies and restrictions that can reduce your return on international investment. Many companies also have operations running in politically unstable regions. Political turmoil such as a military coup or civil war can derail foreign investments. Do your homework carefully before investing.
Tax legislation. The capital gains and other tax implications of trading international shares are more complex than if you were only trading Australian shares. You may need to pay for professional tax advice.
Different time zones. You’ll need to manage opposite time zones when buying or selling shares in major international markets like America and Europe.
Pros and cons of international share trading
Pros
Access more markets
Access major global brands
Portfolio diversification
24/7 trading
Cons
More fees and costs involved
Complex tax rules
Foreign currency exchange rates will affect your returns
Competing time zones
Frequently asked questions
Adding international shares to your portfolio comes with a number of benefits including lowering portfolio risk, reducing the risks of Australia's economy going into a downturn, providing an additional source of portfolio growth and tempering volatility risks.
When it comes to paying taxes overseas, it'll all depend on the withholding rate.
How much you will pay will ultimately depend on the treaties that Australia has with the other countries and the size of your investment.
To make this easier, let's start with an example. If you invest in the US, you will have a withholding tax rate of 15% if you have a W8BEN form. Without one, you will be paying a tax of 30% on shares, plus a withholding tax of 30% on dividends. But if you happen to be an incredibly large shareholder and own more than 10% of the voting rights, the amount of taxes falls to 5%, and if you own 80% of the voting rights, it drops to 0%.
Finder's recent awards found that the best broker for international shares is Interactive Brokers.
When it comes to investing in US shares, CMC Invest took out our award, and was also named best overall broker.
While Finder's awards are independently tracked across 40 brokers, it is important to highlight that there's no one "best broker". You should try to find a trading account that matches your own circumstances and needs.
The ASX is for Australian-listed companies, meaning you can't buy international shares directly online.
However, many international exchange traded funds (ETFs) are listed on the ASX. These trade the same way as any Australian shares. You can buy them off the ASX, which is open from 10am to 4pm AEST.
Yes, CommSec will allow you to buy international shares in the following countries:
North America
Canada
Asia Pacific - Japan, Hong Kong
Singapore
Europe and the Middle East - France, Germany, Italy, The Netherlands, Norway, Sweden, Switzerland
London
Sources
Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, CFDs, 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 involves substantial risk of loss and therefore are not appropriate for all investors. Trading CFDs and forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades. Read the Product Disclosure Statement (PDS) and Target Market Determination (TMD) for the product on the provider's website.
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To make sure you get accurate and helpful information, this guide has been edited by
David Gregory
as part of our
fact-checking process.
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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hi i have some British share certificates and wish to sell them can you help me. Regards
Paul
Finder
ShirleySeptember 28, 2015Finder
Hi Paul,
Thanks for your question.
Please be mindful that finder.com.au is online comparison service. Please pick a share trading platform on this page to assist you with this enquiry.
Cheers,
Shirley
JohnAugust 25, 2015
I live in Australia, hold a share certificate (Paper) of a London listed company.
I want to sell. I heard some brokers can do that.
Or, can I register an account with a broker, then transfer the paper certificate to electronic, then trade?
BelindaAugust 26, 2015
Hi John,
Thanks for your enquiry.
finder.com.au is an online comparison service so while we can offer general information regarding share trading accounts, we can’t recommend any specific strategies or brokers to you.
It may be possible for you to ‘paper trade’ before moving on to the electronic version of the share. You can do this by setting up a watchlist which allows you to store in one place all the shares you’re interested in.
Above on this page you can compare a range of share trading accounts and you can click on the ‘enquire now’ button to speak with the provider and see whether they will allow you to trade the share certificate.
Thanks,
Belinda
KevinAugust 18, 2015
I have a small number of Aviva (UK) shares which I need to sell quickly. I have a NABTrade account but NAB won’t trade internationally in share values of less than 50K. Any advice on Australian banks who will trade internationally in small transactions?
BelindaAugust 20, 2015
Hi Kevin,
Thanks for your enquiry.
You can compare a range of share trading accounts to see if there is a provider that enables you to trade smaller transactions. If you would like to apply, simply click ‘enquire’ and you will be redirected to the provider’s website where you can complete the application online.
You might be interested to read our guide about how to find a competitive online share trading platform. As a reminder, it is always advisable to conduct a thorough research before investing as there are significant risks involved. Please also read through the Product Disclosure Statement/Terms and Conditions before making a decision on whether it is right for you. You may want to also consider speaking to a financial advisor who can guide you in stock trading.
Thanks,
Belinda
MariaJuly 27, 2015
What about Interactive Brokers and Options Express? If they are online brokers, how do they compare?
Thanks.
JodieJuly 28, 2015
Hi Maria,
Thank you for contacting finder.com.au, a financial comparison website.
Although we strive to have information on all the options available to visitors of our website we are still growing certain areas of the website and don’t currently have any review or comparison information on Interactive Brokers or Options Express but hope to in the near future.
I am sorry we were not able to answer your query.
Regards
Jodie
SamJuly 24, 2015
Is there an online broker in Australia that provides an online trading platform that shows quotes, and market depth of equities and ETFs on the NYSE and Nasdaq in real time.
The query relates to trading with minimum lag time while US markets are open.
BelindaJuly 31, 2015
Hi Sam,
Thanks for your enquiry.
You can read more about how to compare different share trading accounts to help refine your search. As a reminder, it is always advisable to conduct a thorough research before investing as there are significant risks involved. Please also read through the Product Disclosure Statement/Terms and Conditions before making a decision on whether it is right for you. You may want to also consider speaking to a financial advisor who can guide you in share 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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We try to take an open and transparent approach and provide a broad-based comparison service. However, you should be aware that while we are an independently owned service, our comparison service does not include all providers or all products available in the market.
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hi i have some British share certificates and wish to sell them can you help me. Regards
Paul
Hi Paul,
Thanks for your question.
Please be mindful that finder.com.au is online comparison service. Please pick a share trading platform on this page to assist you with this enquiry.
Cheers,
Shirley
I live in Australia, hold a share certificate (Paper) of a London listed company.
I want to sell. I heard some brokers can do that.
Or, can I register an account with a broker, then transfer the paper certificate to electronic, then trade?
Hi John,
Thanks for your enquiry.
finder.com.au is an online comparison service so while we can offer general information regarding share trading accounts, we can’t recommend any specific strategies or brokers to you.
It may be possible for you to ‘paper trade’ before moving on to the electronic version of the share. You can do this by setting up a watchlist which allows you to store in one place all the shares you’re interested in.
Above on this page you can compare a range of share trading accounts and you can click on the ‘enquire now’ button to speak with the provider and see whether they will allow you to trade the share certificate.
Thanks,
Belinda
I have a small number of Aviva (UK) shares which I need to sell quickly. I have a NABTrade account but NAB won’t trade internationally in share values of less than 50K. Any advice on Australian banks who will trade internationally in small transactions?
Hi Kevin,
Thanks for your enquiry.
You can compare a range of share trading accounts to see if there is a provider that enables you to trade smaller transactions. If you would like to apply, simply click ‘enquire’ and you will be redirected to the provider’s website where you can complete the application online.
You might be interested to read our guide about how to find a competitive online share trading platform. As a reminder, it is always advisable to conduct a thorough research before investing as there are significant risks involved. Please also read through the Product Disclosure Statement/Terms and Conditions before making a decision on whether it is right for you. You may want to also consider speaking to a financial advisor who can guide you in stock trading.
Thanks,
Belinda
What about Interactive Brokers and Options Express? If they are online brokers, how do they compare?
Thanks.
Hi Maria,
Thank you for contacting finder.com.au, a financial comparison website.
Although we strive to have information on all the options available to visitors of our website we are still growing certain areas of the website and don’t currently have any review or comparison information on Interactive Brokers or Options Express but hope to in the near future.
I am sorry we were not able to answer your query.
Regards
Jodie
Is there an online broker in Australia that provides an online trading platform that shows quotes, and market depth of equities and ETFs on the NYSE and Nasdaq in real time.
The query relates to trading with minimum lag time while US markets are open.
Hi Sam,
Thanks for your enquiry.
You can read more about how to compare different share trading accounts to help refine your search. As a reminder, it is always advisable to conduct a thorough research before investing as there are significant risks involved. Please also read through the Product Disclosure Statement/Terms and Conditions before making a decision on whether it is right for you. You may want to also consider speaking to a financial advisor who can guide you in share trading.
Thanks,
Belinda