Looking for the best trading platforms in Australia for low fees, tight spreads, and support assets classes? In the following guide, we compare the best trading platforms in Australia with detailed reviews, comparing fees, features, and market access to ensure a successful trading journey.
As a wise investor, finding the best trading platforms that meet your objectives is crucial. A good platform should be affordable and offer access to your preferred stocks, cryptocurrencies, and ETFs while perfectly fitting your investment strategy. Choosing the right platform sets the stage for a rewarding trading experience, empowering you to seize opportunities and navigate the market with ease.
Best Trading Platforms in Australia 2024
Our team of trading experts narrowed down the list to the following options. We select eToro as the best trading platforms in Australia, but feel free to read more about the remaining nine options, too.
- eToro – Best trading platforms in Australia with social trading functionality
- CommSec – Australia’s largest online trading platform
- Westpac – The best feature-rich trading platform in Australia
- Swyftx – The best feature-rich trading platform in Australia
- Coinbase – One of the best trading platforms for swift crypto trading and investment
- Binance – The safest crypto trading platform for beginners
- Capital.com – Largest cryptocurrency exchange in Australia
- AvaTrade – Best-in-class trading platform for beginners
- Crypto.com – One of the fastest growing crypto trading platform
- ANZ – Australia’s leading online trading platforms
Review Of The Top 10 Best Australian Trading Platforms
The investment landscape is constantly evolving with new trading capabilities. With cryptocurrency and artificial intelligence coming onto the scene, it can be difficult to find the right trading platform for your trading needs.
Check out our detailed reviews of the best trading platforms in Australia to learn more about their type, supported markets, fees, security, and more.
1. eToro – Best trading platforms in Australia with social trading functionality
When it comes to the best trading platforms in Australia, eToro ranks at the top. With a focus on cryptocurrency and international markets, eToro offers a unique trading experience for beginners and seasoned traders.
With a vast user base of over 30 million, this leading trading platform facilitates trading in commodities, currencies, ETFs, stocks, indexes, and invest in cryptocurrency assets. It includes popular digital currencies like Bitcoin, Ethereum, Dogecoin, Shiba Inu, Cardano and BNB. This feature opens up opportunities for those interested in diversifying their investments in the world of digital currencies.
On the eToro platform, Australian traders can enjoy the benefit of 0% commission on all stocks and ETFs, making it an attractive choice for cost-conscious investors. The platform offers a low minimum investment per trade of just $10, allowing users to start small and gradually build their portfolios. With its commission-free model and diverse investment options, eToro presents a compelling option for Australian traders looking to explore various markets.
Our Verdict: 5.0/5
eToro is also one of the top regulated CFD brokers in Australia and authorised by top-tiers governments including: AU, US, UK, and Cyprus regulators, earning it an esteemed status in the investment world with over 25 million clients. Diverse payment options, including bank wires, debit/credit cards, POLi, and e-wallets like Paypal, enhance convenience for users.
Its commitment to beginners is evident with its ample offering of comprehensive educational resources like guides and videos. The platform aims to empower novices with essential trading knowledge and practices. eToro’s user-friendly approach and stringent regulatory compliance make it a go-to trading platform for Australian traders seeking a reliable and reputable option in the financial market.
Australian investors can securely open an account through “eToro AUS Capital Limited,” a subsidiary authorized and regulated by ASIC. This affiliation ensures membership in the Securities Exchanges Guarantee Corporation, granting direct access to the National Guarantee Fund (NGF). Consequently, investors enjoy investment protection coverage of up to $1,000,000 per client per account.
eToro stands out as one of the best trading platforms as it offers features like Copy Trading tool. It is a powerful feature that enables account holders to replicate the trades and positions of expert traders. With this tool, investors can follow and mirror the strategies of skilled traders in real time, allowing them to potentially benefit from the expertise of others without having to actively manage their own trades.
eToro Platform: Pros & Cons
| Assets available | Stocks, ETF, commodity, Forex, commodities, copy trading, CFD, and cryptocurrencies |
| Fees and charges |
|
- Overall best trading platform in Australia
- Has social investing features that allow users to match the moves of popular traders
- Regulated in numerous jurisdictions
- Excellent for social copy trading and cryptocurrency trading
- Offers copy trading and smart portfolios
- The platform does not offer service in all states
- Does not support automated trading strategies
CFD Service. Your capital is at risk
2. CommSec – Australia’s largest online trading platform
CommSec is the powerhouse of Australian trading. Backed by the esteemed Commonwealth Bank and founded nearly three decades ago in 1995, this platform’s reputation speaks for itself. Awarded Money Magazine’s Best Feature-Packed Bank Online Broker for an astounding 16 years in a row, CommSec continues to set the bar high. With services spanning across 13 countries and flexible fee structures, it’s no wonder traders flock to this exceptional platform.
Our Verdict: 4.9/5
Over half of Australian investors choose CommSec for their share trading, investment research, and more. It provides access to a wide range of assets, including Australian and international shares, ETFs, and options. With its intuitive interface and advanced research tools, CommSec caters to traders of all levels.
A notable advantage is the foreign exchange spread of 0.6%, which is only applied to deposits and withdrawals, not every trade, allowing for significant cost savings. This feature makes CommSec an attractive option for Australians seeking the best trading platforms. Furthermore, the absence of account fees is an added benefit, although traders should be aware of the $500 minimum deposit requirement to get started.
As an Australian trader, having access to the ASX is essential, and CommSec ensures this access for its users, making it a reliable choice for trading shares on the Australian market. CommSec goes beyond local markets and offers access to 25 international markets across the US, UK, Europe, and Asia, providing opportunities for global diversification. This feature enables traders to expand their horizons and explore international investment options while managing their portfolios effectively.
CommSec has introduced a range of new features to enable more Australians to embark on their investment journey. These additions include an innovative online international share trading platform that facilitates rapid account setup, grants seamless access to 13 equities markets, and offers competitive brokerage rates starting from USD$5.
CommSec Platform: Pros & Cons
| Assets available | Shares, ETFs, and warrants |
| Fees and charges |
|
- Offers top-notch educational tools
- Robust customer support
- Provides access to thousands of local and international shares
- Offers Micro investing app
- Has a high international trading fee
- Currency conversion fees
- Only provide a limited intro-offer discounts
3. Westpac – The best feature-rich trading platform in Australia
Westpac Share Trading, commonly known as Westpac, stands out as one of the best trading platforms in Australia. For the past two decades, Westpac has been a trusted partner for Australian investors, facilitating the growth of their wealth. This renowned platform provides an extensive selection of Australian and international asset classes, allowing investors to diversify their portfolios effectively.
Our Verdict: 4.8/5
When trading Australian shares, investors gain access to a vast selection of over 2,200 companies listed on the ASX. For those interested in international shares, the platform offers even more opportunities, with the ability to invest in over 30 international exchanges. This includes renowned stock markets such as the New York Stock Exchange, NASDAQ, London Stock Exchange, Hong Kong Stock Exchange, and Tokyo Exchange.
Being one of the Big Four banks, Westpac Share Trading enables investors to place orders via telephone, albeit at a slightly higher cost compared to online and mobile app transactions. It facilitates access to over 25 international exchanges. Known for its research offerings, it includes robust company information, news, and research opinions.
WestPac caters to individuals with a background in derivatives trading, offering them a wide selection of options markets to explore. Additionally, the platform goes beyond just options. It provides support for funds on the CBOE, ETFs, and bonds, presenting investors with a comprehensive array of investment opportunities to diversify their portfolios effectively.
Accessibility is a key advantage of WestPac, with the platform being accessible online and via their native mobile app. This allows investors to stay connected and engaged in the markets at their convenience, whether at home or on the move.
With its extensive offerings, user-friendly accessibility, and responsive customer support, Westpac has established itself as a top trading platform among seasoned Australian traders seeking a robust and versatile trading platform to navigate the complexities of the financial markets.
Westpac Platform: Pros & Cons
| Assets available | Bonds stocks, ETFs, warrants, and options |
| Fees and charges |
|
- Diverse investment options
- Support and backing of a large bank
- There is no inactivity fee
- Has an easy-to-use brokerage cost structure
- No account opening fees or maintenance fees
- There are no specific discounts for frequent traders
- Customer assistance is not offered for 7 days and there is no live chat option
- The brokerage fees start at a higher price point
4. Swyftx – One of the best trading platforms for swift crypto trading and investment
Swyftx stands as one of the top trading platforms in Australia, with a core objective to provide users with a transparent and uncomplicated means of purchasing, selling, and trading. This leading exchange grants access to more than 320 digital currencies, all at reasonable fees. Remarkably, the platform charges a mere 0.6% commission per transaction.
It has carefully designed both its desktop and mobile applications to cater to the needs of beginners and intermediate investors, making it convenient for them to enter the world of cryptocurrencies. With the app at their fingertips, there’s no need to rush to a computer whenever there’s a change in the crypto world. Users can stay informed and take action promptly, making it easier to manage their crypto investments on the go.
Our Verdict: 4.7/5
Swyftx holds its position in the list of best trading platforms in Australia as it caters to new investors with its user-friendly interface and a complimentary Demo Mode accessible after account creation. The risk-free simulation allows users to practice cryptocurrency trading using $10,000 in-play money, gaining practical experience without any financial risk. The Demo Mode replicates real-world market events, providing insights into market reactions and the impact of investments on your liquid assets.
Swyftx operates as a fully regulated exchange, holding a license from AUSTRAC (Australian Transaction Reports and Analysis Centre). Consequently, the platform adheres to rigorous KYC (Know Your Customer) and AML (Anti-Money Laundering) policies, which are mandatory for all users registered on the platform.
The platform stands out with its competitive ‘Instant Buy’ trading fees, charging a mere 0.6% on all supported tokens, making it the most cost-effective option in Australia. Swyftx imposes no charges for depositing or withdrawing AUD. While depositing cryptocurrencies is also fee-free, a nominal charge is applicable for withdrawing crypto, which is solely to cover the network transaction fee.
This leading trading platform also offers various convenient methods for users to transfer and deposit AUD to their accounts. Users can swiftly deposit fiat currency, up to 50,000 Australian dollars, using options like OSKO, bank transfer, POLi payment, and PayID via an Australian bank account. Additionally, the platform has recently introduced credit card acceptance to fund accounts, further enhancing the depositing process for its users.
Swyftx Platform: Pros & Cons
| Assets available | 320+ digital currencies |
| Fees and charges |
|
- Robust customer support
- Offers demo account for beginners
- Has API for automated trading
- Accepts multiple payment methods, including debit and credit cards
- Has highly limited product offering
- No instant buy option available
5. Coinbase – The safest crypto trading platform for beginners
Coinbase stands out as the top trading platform in Australia due to its unique combination of being a brokerage platform and an exchange, allowing users to purchase coins with fiat currency. As one of the largest exchanges globally, it holds over $20 billion in assets and facilitated $195 billion in trading volume during 2020.
Thanks to its world-class service for all levels of crypto traders and investors, the crypto trading platform won the 2024 Finder Award for Best Crypto Exchange Overall. The Coinbase website offers added features, such as a debit card that enables users to spend their tokens in the real world.
Our Verdict: 4.6/5
Institutional security controls are provided, including cold storage, two-factor authentication, and withdrawal timelocks, ensuring enhanced security for users’ assets. Coinbase offers an automatic yield reward on any USDC held in users’ accounts. This means that if you choose to hold stablecoins for a period, you can still see an increase in your digital asset holdings through the yield earned while doing so on the Coinbase platform.
Throughout its journey, the company has forged significant partnerships with prominent mainstream entities, including Dell, Overstock, and Time Inc. These strategic collaborations have played a pivotal role in establishing the company as a highly trusted and respected organization within the cryptocurrency community.
A crucial issue with this exchange platform is its relatively higher fees compared to other crypto exchanges like eToro and Crypto.com. When buying or selling crypto assets on Coinbase, a 1.49% commission is charged for orders above $200, and a fixed fee applies for orders below $200, depending on the specific order size. This fee structure may impact investors seeking cost-effective trading options.
Coinbase Platform: Pros & Cons
| Assets available | Access to over 150+ digital currencies |
| Fees and charges |
|
- Offers high levels of liquidity compared to other exchanges
- Top-notch security features
- Fiat currency stored on the platform is insured by FDIC
- One of the oldest and most reliable exchange
- Australian users can only buy coins and not sell them
- Lacks a robust customer support
6. Binance – Largest cryptocurrency exchange in Australia
Binance sets new standards for cryptocurrency exchanges with its comprehensive offerings, making it a crypto super app. It remains a market leader in the fiercely competitive world of crypto trading, attaining esteemed recognition in Finder’s 2024 Crypto Trading Platform Awards for Australia, Canada, and the global market.
Binance boasts incredibly low trading fees, starting at just 0.1%. These fees can be further reduced by utilizing Binance’s native token, BNB, which grants a 25% discount, lowering fees to 0.075%. Moreover, high-volume traders can enjoy additional fee discounts based on their trading activity over the previous 30 days.
Our Verdict: 4.5/5
Binance is an ideal platform for experienced traders, providing extensive liquidity for over 600 tokens and a wide array of trading tools to facilitate advanced analysis. These tools encompass technical indicators, drawing tools, and customizable charts. The platform also allows users to personalize their trading interface by incorporating multiple charts, indicators, and data feeds. Additionally, a desktop app is available for both Windows and Mac users, offering enhanced customizability and a more immersive trading experience.
Binance Australia, along with other leading Australian crypto exchanges, operates with full licensing and registration with AUSTRAC, ensuring compliance with stringent KYC/AML obligations. To safeguard against cybersecurity threats, Binance securely stores the majority of its crypto assets in cold storage, enhancing the security and protection of user funds.
Binace Platform: Pros & Cons
| Assets available | Access to over 600+ digital currencies |
| Fees and charges |
|
- Wide selection of trading options
- Low trading fees compared to competitors
- Trading with their native token (BNB) reduces trading fees
- The platform UI can be complicated to learn for new investors
- Debit card transactions add 4.5% in trading costs
- Lacks robust customer support
7. Capital.com – Leverage your trades with the top trading Platform
Capital.com distinguishes itself with its exceptional research, comprehensive educational resources, and innovative web platform. These attractive features make it one of the leading trading platforms for novices and seasoned Australian traders. The platform offers competitive pricing and a diverse selection of tradable instruments, including crypto CFDs.
Our Verdict: 4.5/5
This prominent trading platform presents a vast array of financial instruments. This includes over 5,400 shares, 470 cryptocurrencies, 130 forex pairs, 470 crypto markets, and 23 indices. Notably, all markets supported by Capital.com can be traded with 0% commission, providing cost-effective trading opportunities for users.
Capital.com also boasts an impressive track record, attracting over 788,000 active customers and facilitating a trading volume exceeding $13 billion. The platform’s popularity continues to grow, with a surge of investors expressing interest in this exceptional platform. With over 7 million accounts created to date, Capital.com proves to be a trading platform that caters to the needs and desires of every trader.
It offers a broad selection of CFDs across popular asset classes. This includes 2,833 shares CFDs, 21 indices CFDs, 124 forex CFDs, 119 crypto CFDs, 22 commodities CFDs, and nearly a dozen thematic indexes. It’s important to note that spread betting is exclusively accessible to U.K. residents on the platform.
Capital.com has established a strong reputation for safety and legitimacy in the CFD trading industry. The platform is regulated by ASIC, FCA, CySEC, and NBRB, providing Australian investors with the assurance of trustworthy and regulated operations. Users can confidently deposit funds and invest capital on Capital.com, knowing that it adheres to strict regulatory standards and prioritizes the safety of their investments.
However, it is worth noting that Capital.com holds fewer regulatory licenses and provides a narrower range of markets compared to the industry’s top brokers.
Capital Platform: Pros & Cons
| Assets available | Offer a variety of CFDs, spanning stocks, ETFs, forex, cryptocurrencies, and indices |
| Fees and charges |
|
- High-quality newsroom-grade research articles, educational articles, and courses available
- Has robust customer support
- Charges $0 brokerage fees
- The platform does not have smaller account currencies
- Spread betting and CFD are limited for AU clients
- Users must consider the heightened risk of loss since CFDs are complex instruments
8. AvaTrade – Best-in-class trading platform for beginners
AvaTrade stands out as one of the top Australian trading platforms, attributed to its establishment in 2006 and its strong presence in the global market. This leading trading platform is bolstered by strict regulatory compliance. Renowned for its trustworthiness and security, the platform serves a vast customer base of over 200,000 worldwide.
Our Verdict: 4.4/5
AvaTrade operates under the regulation of seven reputable commissions, ensuring compliance with CBI (EU), B.V.I. FSC (British Virgin Islands), ASIC (Australia), FSCA (RSA), FRSA (UAE), FSA, and FFAJ (Japan). The broker prioritizes customer fund security by utilizing segregated accounts, offering enhanced protection for clients’ funds.
With an impressive track record, it facilitates more than 2 million trades each month, surpassing a staggering $1.47 trillion in traded value since its inception. This trading platform is also known for providing leveraged trading options that comply with ASIC limits. This enables Australian retail clients to access leverage of up to 1:30 on major forex pairs and lower on other markets. Traders can access AvaTrade through its primary web trading platform, and there is additional support for third-party providers such as MT4 and MT5.
AvaTrade empowers traders with a variety of research tools, delivering valuable insights. In addition to news updates and live economic calendars, traders gain access to educational resources on Sharptrader.com, offering an extra advantage in enhancing their trading knowledge and skills.
This share trading platform has a withdrawal time of over one to two business days, a common practice among forex brokers. However, the withdrawal time may vary depending on the chosen method.
It is essential to keep your account information up to date. In some cases, even if you were verified during account opening, the broker might require updated proof of ID and address to process your withdrawal request, especially if a considerable amount of time has passed since the initial verification. However, this helps in ensuring a smooth and efficient withdrawal process.
AvaTrade Platform: Pros & Cons
| Assets available | Access to 44 forex options, 1,200+ CFDs, ETFs, bonds, forex, crypto, and indices |
| Fees and charges |
|
- Easy account opening
- Has easy-to-use mobile trading apps
- Supports Leverage and short-selling
- Has high inactivity fees
- The number of crypto markets available or highly limited
9. Crypto.com – One of the fastest growing crypto trading platform
Crypto.com also tops the list of best crypto trading platforms in Australia. With an impressive growth record, it has a global user base exceeding 50 million and a daily trading volume amounting to $1 billion. This review delves into the platform’s primary functionalities, encompassing spot trading, margin trading, derivatives trading, staking, NFT marketplace, Visa card, and various other features.
With its diverse offerings and extensive user base, Crypto.com has maintained its place as one of the best trading platforms in Australia. The platform began its journey as a cryptocurrency-exclusive exchange, but over time, it expanded its services to provide a wide-ranging platform. Today, it offers various features such as cryptocurrency payments, lending and borrowing services, a non-custodial crypto wallet, the Crypto.org blockchain with its native CRO token, and even an NFT marketplace.
Our Verdict: 4.4/5
The crypto.com platform provides various payment methods for its Australian users to buy the best altcoins and Bitcoin. The most efficient option is using NPP (New Payments Platform), which involves a bank transfer from the user’s online banking account using PayID. NPP deposits are free and typically processed within minutes, enabling users to start buying cryptocurrencies immediately. Another free option available is BPAY, but this method usually takes a few days for the funds to appear in the user’s account.
In addition to NPP and BPAY, Australian traders have the option to pay with credit or debit cards, although there is a 3.50% fee associated with these transactions. However, there’s a special promotion in place where Crypto.com waives the credit/debit card fees for the first 30 days of using the app. This offer allows users who prefer paying with cards to take advantage of fee-free transactions during the initial period of app usage.
Crypto.com prioritizes user security by providing a wide array of default and customizable security features. These include mandatory passcodes and the option to enable two-factor authentication (2FA) for enhanced protection. Moreover, before any cryptocurrency withdrawal is allowed, users must authorize the withdrawal address from their registered email address, ensuring an additional layer of security.
In addition to its security features, this leading crypto exchange platform also offers a unique feature called Supercharger. Users can earn interest by staking their CRO coin, and the rewards are paid in different cryptocurrencies, which change every fortnight. Notable cryptocurrencies that have been available on Supercharger in the past include BTC, ETH, LUNA, UNI, DOT, DOGE, SHIB, and AXS.
Crypto.com Platform: Pros & Cons
| Assets available | Access to over 312 cryptocurrencies |
| Fees and charges |
|
- All-in-one ecosystem super app for crypto investing
- Has a large insurance policy
- Has an NFT marketplace to buy and sell NFTs
- Has high fiat withdrawal fees
- Lacks robust customer support
10. ANZ – Australia’s leading online trading platforms
ANZ is a prominent trading platform in Australia, renowned for its extensive range of interactive tools and diverse trading opportunities across various markets. For new investors, ANZ offers market research tools that provide comprehensive market analysis, aiding them in making informed decisions.
Seasoned investors can leverage more advanced techniques like copy trading and automated trades to enhance their trading strategies.
Our Verdict: 4.3/5
With its inclusive offerings catering to investors of all levels, ANZ Investing is one of the best trading platforms to consider. Whether you are a beginner or amateur seeking valuable insights or an experienced trader looking to refine your approach, ANZ Investing might be a suitable option to consider. Take a closer look to see if it aligns with your investment goals and preferences.
ANZ Share Investing operates as a regulated broker under the purview of the Australian Securities and Investments Commission (ASIC). As a licensed financial service provider in Australia, the platform’s legitimacy is assured, and investors can rest assured that their funds are secure.
The ANZ share trading platform is specifically designed for Australian residents, providing them with the opportunity to invest in domestic companies listed on the Australian Securities Exchange (ASX). With a vast array of choices, ANZ grants access to over 2,000 local stocks, enabling investors to diversify their portfolios within the Australian market.
ANZ goes beyond the domestic market and extends its services to international marketplaces. This means that investors can effortlessly purchase stocks from global exchanges, including the United States and other international markets. The platform’s international access broadens investment possibilities and allows users to explore opportunities beyond their home country’s borders.
ANZ Platform: Pros & Cons
| Assets available | Access to all local and international stocks and ETFs |
| Fees and charges |
|
- Has access to trades in 11 different overseas exchanges
- Offers users access to advanced tools
- No dedicated app for ANZ investing
Top Trading Platforms in Australia Compared
It can be difficult to determine the best stock and crypto trading platforms in Australia just by looking at reviews. So, we list a comparison table below that details key metrics from our reviews of the best trading platforms in Australia.
| Trading Platforms | Available Assets | Commissions | Minimum Deposit |
| CommSec | ETFs and Stocks | Trading at a rate of $10 for trades valued up to $1,000 | Not mentioned |
| WestPac | Bonds, warrants, ETFs, stocks | For stocks, the cost is $19.95 or 0.11% of the trade value, whichever is higher | Not mentioned |
| eToro | Commodities, copy trading, smart portfolios, stocks, digital currencies | The interest rate for stocks and ETFs is 0%, while the interest rate for cryptocurrencies is 1% | Requires $50 |
| Swyftx | Over 320+ digital currencies | Charges 0.60% as commission | Completely depends on the payment provider |
| Coinbase | Over 150+ digital currencies | The standard commission rate is 1.49% | Charges 3.99% minimum deposit |
| Binance | Over 600+ digital currencies | The commission rate is up to 0.10% per trade or transaction | Completely depends on the payment provider |
| Capital.com | CFDs including stocks, ETFs, indices, cryptocurrencies, and forex | The commission rate is 0% on all markets | Requires $20 |
| Ava Trade | Over 1,250 CFD markets | The commission rate is 0% on all markets | Requires $100 |
| Crypto.com | Over 250+ digital currencies | The commission rate is up to 0.4% | Charges 2.99% as minimum deposit |
| ANZ | Access to all local and international stocks and ETFs | For Australian share trades under $5,000, the cost is $19.95 per trade | Not mentioned |
Different Types of Trading Platforms
In the above section, we uncovered the best trading platforms in Australia, spotlighting their unique features, accessibility, and the opportunities they present. From real-time data to advanced tools and competitive fees, these platforms have it all!
In the following sections, we will explored some of the key factors traders to consider while choosing the best trading platforms. Whether you are a seasoned investor or an eager newcomer, these platforms offer a gateway to ensure a successful trading journey.
Trading platforms have revolutionized the way financial markets operate, providing traders and investors with unparalleled access to a wide range of assets and trading tools. These platforms operate within a networked environment, enabling users to execute various types of trades.
Trading platforms come in various types, each tailored to cater to specific trading needs and preferences. From stocks and forex to cryptocurrencies and options, the world of trading platforms is abundant with opportunities.
There are multiple trading platforms for Australian users and here are some of the most popular ones.
Forex Trading Platforms
Forex (foreign exchange) trading platforms cater specifically to users interested in the currency markets. These platforms allow Australian traders to buy, sell, and speculate on currency pairs from around the world. Forex trading platforms are known for their high liquidity, low transaction costs, and 24/5 trading hours, providing ample opportunities for traders to take advantage of currency fluctuations.
Among the list of best trading platforms mentioned above, eToro is one of the best examples of a forex trading platform in Australia. It presents an attractive option for Australian clients seeking exposure to a variety of currency pairs at competitive fees.
The platform allows users to trade major currency pairs with a leverage of up to 1:30, providing the potential for enhanced returns on investments, while minor and exotic trading pairs have a maximum leverage limit of 1:20.
Cryptocurrency Trading Platforms
The widespread adoption of cryptocurrencies on a global scale has led to a significant increase in the number of cryptocurrency exchanges. With thousands of cryptocurrencies in existence and new ones launching regularly, crypto exchanges serve as the meeting point for traders and investors seeking to capitalize on the exciting potential of this burgeoning market.
These platforms allow traders and investors to buy and sell digital currencies on their preferred platforms. They enable users to create accounts, deposit funds, and execute trades seamlessly.
Depending on the exchange, users can engage in spot trading, margin trading, and even access various financial products like futures and options contracts. Most cryptocurrency exchanges offer advanced charting tools, multiple trading pairs, and secure wallet solutions to store digital assets.
CFD Trading Platforms
Contracts for Difference (CFD) trading platforms allow Australian users to speculate on the price movements of various financial instruments without owning the underlying assets. CFDs offer flexibility and the potential for both long and short positions, enabling traders to profit from both rising and falling markets.
These platforms often cover a wide range of assets, including stocks, indices, commodities, and cryptocurrencies. However, it is always important to consider whether the platform provides leverage options as well, given the narrow profit margins typically associated with day trading.
Social Trading Platforms
Social trading platforms have revolutionized the trading landscape by integrating social networking with trading functionalities. These platforms enable Australian users to follow and copy the trades of experienced traders in real time.
This approach is particularly beneficial for less experienced traders, as it allows them to learn from the strategies of seasoned investors and potentially achieve better trading outcomes. Social trading platforms enable traders to observe and automatically replicate the trading practices of seasoned investors.
Robo-Advisory Platforms
Robo-advisory platforms offer automated investment services to Australian users. It is a digital financial advisor that offers financial advice or manages investments with limited to no human intervention.
These platforms use algorithms to create and manage diversified portfolios based on users’ risk tolerance and investment goals.
Day Trading Platforms Australia
Day trading platforms have transformed the landscape of active trading, providing traders with powerful tools and real-time data to execute swift and frequent trades within the same trading day. These are uniquely designed for day traders who buy and sell within the same day.
Day trading platforms empower traders with fast order execution, advanced charting tools, and comprehensive market analysis, enabling them to seize fleeting opportunities in dynamic financial markets. These platforms cater to frequent traders and offer real-time market data.
Australians in search of a top-rated day trading platform should prioritize providers offering low fees and high-level charting tools.
Stock and ETF Trading Platforms
Stock and ETF trading platforms are digital systems that enable investors to buy and sell shares of individual company stocks and exchange-traded funds (ETFs) in a streamlined and efficient manner. These platforms enable easy access to the Australian stock market and diverse investment opportunities.
When choosing a stock and ETF trading platform in Australia, investors should consider factors such as brokerage fees, account types, regulatory compliance, customer support, and available research resources.
Options Trading Platforms
Options trading platforms in Australia enable investors to trade options contracts on various financial instruments, offering flexibility, risk management tools, and access to diverse markets.
As financial derivatives, options provide unique opportunities for hedging, speculation, and risk management. These platforms offer a comprehensive suite of tools, real-time data, and analytical capabilities, empowering users to craft and execute a wide range of options strategies.
Experienced traders frequently engage in buying and selling options contracts. This enables them to access financial markets without requiring the full trade size up front. Traders can place various types of options orders, such as market orders, limit orders, and stop-loss orders, to execute trades efficiently.
Commodities Trading Platforms
Commodities trading platforms cater to traders interested in buying and selling various physical commodities such as gold, silver, crude oil trading, agricultural products, and more. These platforms offer easy access to global commodity markets. They also offer real-time data and analysis to help traders make informed decisions.
There are multiple platforms that have user-friendly interfaces and efficient order execution. These platforms allow Australian traders to participate in commodity trading and diversify their investment portfolios.
CFD Service. Your capital is at risk
How to Choose The Best Australian Trading Platforms
Now you are well aware of the different types of trading platforms and some of the best trading platforms in Australia. Let us explore some of the key criteria to keenly watch while searching for the perfect trading platform that matches your needs and requirements.
Before beginning, the most significant factor is to define your objective. Decide whether you are looking for a seasoned pro seeking advanced tools, or a newbie looking for user-friendly features. Knowing what you want sets the course.
Check Regulation and Security
Safety is always the first thing to consider when choosing an Australian trading platform. Trading in Australia is subject to stringent regulations to prioritize the protection of retail clients. To uphold this commitment, the best trading platforms in Australia adhere to regulations by the Australian Securities and Investments Commission (ASIC).
Being a reputable regulatory body, ASIC ensures that these platforms comply with strict standards, fostering a secure and transparent trading environment for investors.
Real-Time Data and Analysis
Staying up-to-date and vigilant is mandatory when you are in the trading sphere. Access to real-time data and comprehensive analysis can make all the difference in your trading success. A crucial feature to consider while searching for the best trading platforms in Australia is the availability of passive investment tools. Look for platforms that offer robo-advisory services and automated portfolio management to align with your passive investment goals.
However, long-term investors seek simplicity and ease for buying and selling assets, often foregoing analysis tools. Yet, those aiming to elevate their strategies desire platforms with technical indicators and advanced charts. Therefore, it is always wiser to choose the trading platform that matches your trading aspirations.
Mobile Accessibility
Trade on the go is a significant feature that makes an exchange platform more attractive. Look for platforms with mobile apps that keep you connected, even when you’re on the move. Almost all prominent trading apps are fully optimized for both iOS and Android.
Mobile trading platforms also allow for instant trade execution. Traders can react to market opportunities promptly, capitalizing on favorable price movements and avoiding potential losses.
Demo Accounts
Opt for platforms with demo accounts to practice your strategies risk-free before diving into the real action. Many trading platforms offer a feature known as “paper trading” or “virtual trading,” which simulates live market conditions using virtual or paper funds.
This allows investors to practice and test their trading strategies without risking real money. Features like paper trading, help investors to refine their approaches and learn from their experiences without the fear of financial loss.
Assess Fees and Costs
Before signing up for a trading platform, understanding the fees is vital. Commissions differ among providers. Don’t forget to check fees for non-trading activities like deposits and withdrawals. Also, verify the applicable interest rates for margin trading.
It is always advised to compare platforms to find competitive pricing that aligns with your trading frequency.
Check for Minimum Deposits
Along with checking for fees and charges, it is also important to look for minimum deposits when selecting a trading platform. Some platforms have no minimum deposit, making them accessible for beginners and with limited funds. Others may impose varying minimums, catering to different traders’ preferences and trading goals.
On the other hand, experienced traders might prefer platforms with higher minimum deposits, offering additional benefits and features. The main objective is to choose a platform that aligns with your financial situation and trading objectives.
Variety of Tradable Assets
Never forget to diversify your options! Almost all best trading platforms offer a broad range of tradable assets, from stocks to cryptocurrencies.
The review of trading platforms in Australia mentioned above, clearly shows that trading platforms do not follow a consistent pattern when it comes to supported markets. Some platforms focus on a specific asset like crypto or stocks, while others cover a full range of financial instruments and markets. However, it is worth noting that top-notch Australian trading platforms offer access to international exchanges.
Robust and Swift Customer Support
Customer support is a critical aspect that categorizes the best trading platforms. A responsive and efficient customer support team ensures that traders can seek assistance promptly when they encounter issues or have questions.
A platform with robust customer support offers multiple channels of communication, such as email, live chat, and phone support. This availability allows traders to choose their preferred method of contact, making it more convenient to reach out when needed. For traders, having access to reliable customer support instills confidence and creates a sense of trust. The belief that the platform values its users ensures a positive trading experience
Order Execution Speed
In the fast-paced world of trading, every millisecond counts! Order execution speed refers to how quickly a platform processes and executes trade orders. A platform with lightning-fast order execution ensures that trades are executed promptly. It enables traders to capitalize on market opportunities without delay.
Moreover, a platform with fast order execution reduces the risk of slippage, where the actual trade execution price differs from the expected price due to delays. Minimizing slippage enhances the accuracy and efficiency of trades.
For day traders and scalpers, in particular, fast order execution is critical as they seek to capitalize on short-term price movements. Choosing a trading platform with speedy execution helps traders to stay ahead of the competition and maximize their trading profits.
User-Friendly Interface
A user-friendly interface is a key factor to consider when choosing a trading platform. It refers to the platform’s design and layout, ensuring that traders can easily navigate and access various features and tools without feeling overwhelmed. An intuitive interface is designed with simplicity in mind. It streamlines the user experience, making it effortless for traders of all levels, from beginners to experienced investors.
Especially for novice investors/traders a user-friendly interface makes them comfortable and confident while exploring the platform’s features. Even experienced traders appreciate a simple and intuitive interface as it saves time and reduces the chances of errors in fast-paced trading environments.
Conclusion – Best Trading Platforms In Australia
In the fast-paced world of financial markets, trading platforms have become essential tools for Australian users looking to capitalize on investment opportunities. The landscape of Australian trading platforms offers a wealth of possibilities for traders of all levels. Whether you’re a seasoned, novice, or pro novice, in the end, the efficiency of your trading journey depends upon the platform you chose.
Our research reveals that the top trading platforms worth considering prioritize low fees, small minimum deposits, and access to a wide array of markets. However, aligning with your goals and objectives is the primary factor to consider before choosing any platform.
A detailed review of these 10 best trading platforms in Australia reveals that they offer a seamless and rewarding trading experience. Each platform offers its unique set of features, empowering traders to engage with different assets and execute strategies effectively. In conclusion, choosing the right trading platform ensures a successful trading journey in the dynamic world of finance.
eToro Exchange
- Free Copy Trading of Professional Traders
- Best Place to Buy Cryptos & Stocks
- Minimum Deposit only $10
- Best Beginner exchange
- Open to AU & Worldwide – Accepts Paypal
Cryptoassets are a highly volatile unregulated investment product.
FAQs about the Best Trading Platform Australia
Which is the cheapest Australian share trading platform?
eToro is the cheapest broker in Australia on commission fees alone, as they charge $0 brokerage on both Australian and global stock trades.
How to start trading in Australia?
The two primary methods for buying and selling shares are through online broking services or full-service brokers.
Which trading platform is the best in Australia?
Although eToro is overall the best trading platform in Australia, it is always best to choose a trading platform based on your objective and requirements.
How can I find the best trading platforms in Australia?
To find the best trading platform in Australia, consider factors like fees, market access, user interface, customer support, and regulatory compliance.
Can I access international markets with Australian trading platforms?
Yes, some trading platforms offer access to international markets, allowing you to trade shares and other assets listed on global exchanges.
What types of assets can I trade on the best platforms in Australia?
Top trading platforms in Australia typically offer a broad range of assets, including stocks, ETFs, cryptocurrencies, forex, commodities, and more.
Are trading platforms in Australia regulated and safe to use?
The best trading platforms in Australia are regulated by authorities like ASIC, ensuring they comply with industry standards and provide a safe trading environment for investors.
What factors should I consider when choosing a trading platform?
Consider factors such as fees and commissions, available markets and instruments, user-friendly interface, customer support, security measures, mobile app availability, and educational resources.
Can I trade stocks, ETFs, and cryptocurrencies on the same platform?
Some platforms offer a wide range of financial instruments, allowing you to trade stocks, ETFs, and cryptocurrencies, all within the same account.
How do I deposit and withdraw funds from the trading platform?
Best trading platforms offer various deposit and withdrawal methods, such as bank transfers, credit/debit cards, and electronic payment systems. Check the supported options and associated fees.