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Online trading is getting more and more popular in Australia, with a plethora of platforms now allowing you to buy and sell assets at the click of a button.
Whether you’re looking to trade forex, stocks, commodities, or Bitcoin – you’ll need to ensure that your chosen trading platform is right for you.
Here’s an overview of the best trading platform Australia as well as some other top platforms that are worth considering. You can read a full review of each platform by scrolling down.
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68% of retail investor accounts lose money when trading CFDs with this provider.
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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.3% of retail investor accounts lose money when trading CFDs with this provider.
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Choosing the best online trading platform in Australia is no easy feat.
Not only do you need to ensure that the provider hosts your chosen asset class, but it also needs to offer low fees and commissions. Plus, you’ll want to ensure that the trading platform is licensed by a reputable body like Australian Securities and Investments Commission (ASIC) or the UK’s Financial Conduct Authority (FCA).
Taking these key metrics into account – below you will find a selection of the best trading platforms in Australia right now.
Note: The best Australian trading platforms listed below typically have a global presence, so the figures discussed in our review are based on US dollars.
eToro is a user-friendly online broker with more than 17 million investors using the platform to trade. The provider hosts a great range of asset classes – both in the traditional form and CFDs. Regarding the former, this includes more than 2,400 stocks from 17 marketplaces.
For example, you can buy and trade stocks listed in the US, UK, Hong Kong, and several European exchanges. You can also trade 16 digital currencies and over 250+ ETFs (exchange-traded funds).
If you’re also keen on CFD instruments – maybe because you want to short-sell or apply leverage, eToro also has you covered. On top of stocks, ETFs, and cryptocurrencies – you can also trade CFDs in the form of hard metals, energies, forex, and indices. Regardless of whether you intend on investing or trading, eToro will not charge you any commission when you buy and sell your chosen instrument.
There are no ongoing platform fees either, and deposits cost just 0.5%. As such, eToro is one of the cheapest trading platforms available to Australians in 2023. eToro is also popular with Australian traders as it offers a selection of automated investment tools.
For example, its CopyPortfolios allow you to invest in a completely passive manner, as eToro will decide which assets to buy and sell. There are many CopyPortfolio strategies to choose from – such as retail stocks, renewable energies, and even a cryptocurrency basket if you are looking to get started with a cryptocurrency exchange and platform.
Then you have the Copy Trader tool, which allows you to copy another eToro trade. You can choose from thousands of verified active traders and active investors based on their historical performance and preferred strategy. When it comes to the safety of your funds, eToro is authorized and regulated by ASIC. It also holds licenses with the FCA and CySEC.
If you like the sound of this top-rated Australian share trading platform, you can open an account in minutes. eToro accepts an assortment of Australian payment methods – including debit/credit cards, bank transfers, and even e-wallets like Paypal, Skrill, and Neteller.
Pros:
Cons:
75% of retail investors lose money trading CFDs at this site
Skilling is a popular online trading platform that is suitable for traders of all shapes and sizes. If you’re a complete beginner, you will find the Skilling web-trading platform simple to use.
Or, if you’ve got a bit of trading experience, the provider also offers support for MT4 and cTrader. Either way, Skilling gives you access to more than 800 financial markets in a super cost-effective environment.
For example, Skilling does not charge any commissions on any of its markets, and spreads are often industry-leading. In fact, spreads start at just 0.1 pips on major currency pairs. On top of forex, you can also trade CFDs in the form of stocks, digital currencies, commodities, and indices.
Once again, all CFD markets can be traded with leverage. If you’re also looking to trade while on the move, Skilling offers a user-friendly mobile app. Available on both iOS and Android devices, this allows you to trade, deposit/withdraw funds, and perform research. If you prefer MT4/cTrader, you can download the respective app and log in with your Skilling account details.
We also like Skilling for its low account minimums. This stands at just $100 – which you can meet with an Australian debit/credit card, e-wallet, or bank transfer. Finally, Skilling may be relatively new in the online trading scene – but it is heavily regulated nonetheless. This includes licenses with both the FSA and CySEC, so safety should not be a concern.
Pros:
Cons:
75% of retail investor accounts lose money when trading CFDs with this provider.
AvaTrade is a popular online trading platform that’s a good option for Australian traders, particularly if you want to pair your brokerage account with third-party trading platforms. This broker is compatible with MT4 and MT5, offering you access to a wide range of advanced trading tools, and it’s also compatible with Zulutrade, so you can try out social trading!
AvaTrade is particularly well known for its forex trading options, with a huge range of currency pairs available, but it also offers cryptocurrencies, shares, ETFs, indices, commodities, and bonds. You can even trade options via the AvaOptions online trading platform.
AvaTrade is a good option for beginners as well as advanced traders. It offers some really fantastic educational tools, including videos and an ebook, and there’s also professional accounts available with more advanced settings.
This trading platform is licensed by ASIC, so you can be sure it’s safe and secure. The minimum deposit for this broker is $100 and it accepts a variety of payment methods, including e-wallets like Neteller and Skrill. AvaTrade also offers an Islamic trading account that complies with Sharia principles.
Pros:
Cons:
72% of retail CFD accounts lose money with this provider.
Eightcap is a new and exciting stock app that’s quickly become popular with traders. For starters, it’s compatible with both MT4 and MT5, so it’s ideal if you want to take advantage of the many advanced trading tools available on these platforms.
This app is a popular good choice if you’re looking to invest in US and Australian stocks, with great coverage of these markets. This means you can invest in a wide range of top companies, from Amazon and Apple in the US to Rio Tinto and BHP Group in Australia.
One of the best things about trading stocks on Eightcap is the incredibly low spreads, which start from 0 pips if you choose a RAW account. This account has a very low £3.5 commission, or you can go for a zero commission standard account in which spreads start from just 1 pip.
The minimum deposit is also just $100, so you can get started with a relatively small amount. You can make your deposit through a variety of different methods, including PayPal, POLi, Neteller and Skrill.
Eightcap is a very transparent trading app that offers direct market access with no price manipulation, and it also boasts premium liquidity. Overall, this is a great app if you’re looking to trade US and Australian stocks with low spreads.
Pros:
Cons:
Your capital is at risk.
If you’re based in Australia and looking for the best forex trading platform in the market – Plus500 is well worth considering. This popular online platform gives you access to an abundance of currency pairs at super competitive fees.
This includes dozens of majors, minors, and exotics. Best of all, you can trade forex on Plus500 without paying any commission. In terms of spreads, the provider uses a dynamic system, albeit, this is usually very competitive on major pairs during standard market hours.
For example, Plus500 offers a best-rate spread of 0.01% on the likes of EUR/USD. Although this Australia trading platform is great for forex, the provider offers thousands of other markets. This includes lots of cryptocurrency CFDs, commodities like gold, oil, and natural gas, and heaps of stocks.
Supported stock CFD markets include Australia, South Africa, the US, the UK, Germany, France, and more. On top of offering low fees and a huge CFD asset library, Plus500 is also popular with traders that seek leverage. Although the platform comes packed with real-time pricing charts and several order types, Plus500 is a bit weak when it comes to technical analysis.
This could be problematic if you are an advanced day or swing trader, as there is no support for MT4, MT5, or any third-party platform for that matter. Nevertheless, Plus500 allows you to open an account in minutes. Once you upload your Australian ID – which is usually verified straight away, you only need to meet a minimum deposit of $100.
Supported payment methods at this top-rated trading platform include debit/credit cards, Paypal, and a bank transfer. Plus 500 is a trading platforms with no fees to deposit or withdraw funds, nor is there any account fees. Finally, Plus500 is authorized by several authorities, including ASIC, the FCA, and MAS.
Pros:
Cons:
76.4% of retail CFD accounts lose money.
If you’re looking for a top-rated online stock trading platform in Australia, you might want to consider Interactive Brokers. This hugely popular online broker gives you access to more than 135 global markets across 33 nations.
This includes everything from the US, UK, Europe, Asia, and of course – Australia. This gives you ample opportunity to build a diverse portfolio of international shares from several stock markets. Interactive Brokers allows you to invest in stocks in the traditional sense or trade them via CFDs.
As such, this top-rated Australian online brokerage platform is suitable for both long-term and short-term strategies. If you are more inclined to the former, Interactive Broker also offers thousands of ETFs and investment funds. There are also pre-selected portfolios that cover a variety of risk levels and financial goals.
In terms of fees, the pricing structure at Interactive Brokers can be a bit confusing at first glance. Not only will your commission depend on the asset you wish to trade, but also the account type you are on. With that said, Interactive Brokers does allow you to buy US-listed stocks and ETFs on a commission-free basis.
This means that you can buy shares in Amazon, Facebook, Tesla, IBM, et all – without getting hammered with fees. In terms of safety, Interactive Brokers has been offering financial trading services for more than four decades. As a US-based brokerage firm, it is heavily regulated.
Pros:
Cons:
There is no guarantee you will make money with this provider.
With various crypto assets and blockchain-related products available, Crypto.com is a prominent crypto exchange. An extensive list of currencies is available for users to trade, and trading fees are relatively low. In addition, the company provides cryptocurrency credit cards, a decentralized exchange, a standalone crypto wallet, and a marketplace for NFTs. You can also earn up to 14.5% interest by holding your cryptocurrency in a Crypto.com wallet for a set period.
Besides more than 250 currencies for spot trading, Crypto.com also supports a subset of these for staking. It is impossible to list all the currencies supported here, but you can expect to be able to trade most of the most-traded currencies. Crypto.com also offers its cryptocurrency, CRO. CRO rewards significant shareholders with reduced trading fees, higher staking interest rates, and better credit card rewards.
Pros:
Cons:
There is no guarantee you will make money with this provider.
Australia’s stockbroker was founded in 2011 and works slightly different from the other brokers on the list. It is impossible to buy or sell shares using CFDs with this broker. There is no leverage involved.
When you trade shares, you become a part-owner of the company. As a part-owner, you have all the rights, including dividends. Trading CFDs does not involve the actual purchase of the underlying asset and only involves speculating on whether the price will rise or fall.
With its trading platform, SelfWealth is quickly known for its low-cost methods throughout the industry.
You will not pay commissions when you buy shares through SelfWealth. Only $9.50 will be charged. This fee is fixed, unlike some stockbrokers that increase their fees when you buy more.
Currently, SelfWealth has over 78,000 Australian investors using its platform, allowing traders to trade both Australian and US shares.
There is also a nice feature called Wealth check. Using this feature, you can compare your portfolio to other investors.
Pros:
Cons:
There is no guarantee you will make money with this provider.
With Swyftx, you can buy and sell over 310+ cryptocurrencies with AUD using one of the best cryptocurrency exchanges in Australia. The company is registered with AUSTRAC and complies with KYC/AML regulations. Its rapid growth has made them one of Australia’s most popular exchanges since it opened in 2017. In addition, Swyftx provides a user-friendly desktop and app platform for their customers. As a result, their spreads and fees are also competitive. Furthermore, it is one of the trading platforms with instant deposit.
Staking is another excellent feature Swyftx has added to the platform near the end of 2021. By holding 16 coins in their Swyftx account, crypto investors can earn interest on them. Newcomers and advanced investors can use this method to increase their crypto holdings without taking any risk.
Pros:
Cons:
There is no guarantee you will make money with this provider.
ANZ belongs to Australia’s ‘big four’ banks. In Australia and New Zealand and throughout Asia-Pacific, it is one of the largest and most prominent financial institutions.
ANZ also has an online trading platform and offers a wide range of banking services. In addition to trading shares on the New York, London, Tokyo, and Hong Kong Stock Exchanges, you can trade for virtually all companies on the Australian Stock Exchange (ASX). Additionally, ANZ also offers stock options and ETF trading.
There are a variety of trading platforms available at ANZ, which makes it unique. Standard trading at ANZ enables long-term investors to access charts, market news, watchlists, etc. In addition to Morningstar’s dynamic stock data and quantitative analysis, the Pro trading platform offers advanced features for active traders.
There are very few mobile trading options available through ANZ. Mobile banking is ANZ’s primary feature. ANZ investment accounts allow you to monitor your balance and transfer funds to or from other ANZ accounts. However, ANZ’s mobile app does not allow you to view technical charts or place trades.
Pros:
Cons:
There is no guarantee you will make money with this provider.
Commsec is the largest and most famous online trading platform founded in Australia. This platform has been about since 1995 and mainly offers shares although it also offers ETFs and options. You can invest in all the best Australian stocks, as well as thousands of international companies from 25 international exchanges.
Unlike trading platforms like eToro, Commsec doesn’t operate on a commission-free model. Online share trading commissions range from $10 to $29.95, and you also need to pay commissions to trade ETFs and options.
However, while Commsec isn’t the cheapest trading platform in Australia, it does have some great benefits. For example, Commsec is a beginner-friendly platform that has lots of really useful educational resources, including webinars, but it’s also perfect for experienced traders and is packed with advanced analysis materials and tools.
Commsec also has some interesting services, such as its Self Managed Super Fund Solutions, where you can get support from a specialized team to help you diversify your portfolio.There’s also Commsec One, which gives personalised support, excluse access and special offers.
Commsec is also an extremely secure and trustworthy platform that’s licensed by ASIC. While it’s not quite as modern as some new online trading platforms, it’s a solid choice that’s certain worth checking out if you want to trade stocks and options.
There is no guarantee you will make money with this provider.
While many of the best Australia trading platforms we have discussed thus far are geared towards newbies – CMC Markets is a great option if you are a seasoned pro. This is because the platform offers a huge selection of advanced trading tools that provide day and swing traders with everything they need to outperform the markets.
For example, the CMC Markets in-house platform covers dozens of technical indicators, the ability to customize your trading screen, and plenty of chart drawing tools. The platform offers lots of order types – both basic and advanced. With that said, CMC Markets also supports MT4, should this be your trading platform preference.
When it comes to supported markets, CMC Markets specializes in CFD instruments. This covers almost 10,000 stock CFDs from over 23 international exchanges. You can also trade cryptocurrencies, commodities, forex, and more. This top-rated CFD trading platform is also very competitive in terms of fees.
For example, UK stocks can be traded from just 0.10%, while US stocks cost $0.02 per share CFD. All other asset classes can be traded commission-free, albeit, your fees are built into the spread. For example, you can trade EUR/USD and AUD/USD from just 0.7 pips.
The spreads on crude oil start at just 2.5 pips, while gold is even more competitive at just 0.3 pips. In terms of the fundamentals, CMC Markets supports a variety of payment methods. This includes debit cards, Paypal, and an Australian bank transfer. The provider is also heavily regulated, including a fully-fledged license from the FCA.
Pros:
Cons:
There is no guarantee you will make money with this provider.
Some trading platforms Australia reddit reviews show different ways to get into platforms. But now that we have reviewed the best trading platforms Australia here, we are now going to explore how you can choose a provider that meets your requirements. This is because no-two Australian brokers are the same. For example, while some are geared towards seasoned pros, others focus on offering a low-cost pricing structure to newbies.
Below you will find a list of key metrics that you need to consider in your search for the best broker Australia.
Make no mistake about it – all of the best brokers Australia that we reviewed on this page are heavily regulated. In many cases, our selected providers hold licenses with several reputable financial bodies.
This is really important, as it ensures that you are able to trade assets in a safe and secure environment. In particular, our top-rated Australia platform is regulated on three fronts.
This includes ASIC – the financial body responsible for safeguarding the Australian financial markets, as well as the FCA (UK) and CySEC (Cyprus).
There are many reasons why you should stick with online trading platforms that are regulated by ASIC.
For example:
You might also come across trading platforms in Australia that are not regulated by ASIC, but another tier-one body like the FCA. This is perfectly fine, but you must ensure that the regulator is reputable. That is to say, if the trading platform in question is regulated in an offshore tax haven, you’ll likely want to avoid it.
If you have a particular asset class that you wish to trade, it’s important that your chosen platform supports this. For example, are you looking to trade Australian stocks, or are you more interested in the multi-trillion-dollar forex market?
Either way, the best online trading platforms Australia typically offer multiple asset classes. For instance, our top-rated platform, eToro, offers markets on forex, stocks, indices, ETFs, cryptocurrencies, and more. In addition to the specific market, you also need to understand whether the provider offers traditional assets, CFDs, or a combination of the two.
If you’re looking to take a long-term buy and hold strategy – then you’ll need to ensure the platform offers conventional stocks, bonds, or investment funds that you can own outright.
On the other hand, if you are looking to engage in a day trading or swing trading strategy, then CFDs are going to be more suitable. This is because you’ll be able to choose from a long or short position, as well as apply leverage.
All of the best trading platforms Australia are in the business of making money. The way that fees are charges can vary, so check out the following sections to gain an understanding as to what costs you might need to factor in.
If you are looking to invest in assets like stocks or ETFs, then the best online trading platforms Australia usually charge a fixed commission. For example, if the platform charges $15 to buy stocks, you’ll always pay this fee irrespective of how much you invest.
Plus, the fee is always charged at both ends of the trade. That is to say, you’ll pay a fixed fee when you buy your chosen asset, and again when you cash out.
Some trading platforms in Australia will also charge you an annual maintenance fee when you make traditional investments. If they do, this is usually a percentage fee that is multiplied by the size of your investment.
If reducing your investment fees is important to you, eToro allows you to buy stocks, ETFs, and cryptocurrencies on a commission-free basis. As the provider does not charge any maintenance fees, you can keep hold of your investment for as long as you wish.
When you trade CFDs or forex in Australia, you will almost always pay a variable commission. For example, if you are trading GBP/AUD at a stake of $500 – and the platform charges a commission of 0.1%, you’ll pay $5.
Once again, this is payable at both ends of the trade – much like traditional share dealing fees. It is important to check whether the trading platform has a minimum commission in place.
For example, the provider might advertise a 0.05% commission on Australian stock CFDs. But, it might have a minimum commission of $10. If this is the case, the provider will likely be unsuitable for those trading small amounts.
It is difficult to find trading platforms with no spread, But, we have discussed low spreads through this guide on the best online brokers Australia. What you will often find is that the best online brokers that don’t charge commission build all of their fees into the spread.
As such, although you won’t pay any commission per-say, you might be paying over the odds via a spread that is less than favorable.
On the other hand, those offering the best trading spreads in Australia will often charge a commission. All in all, just make sure that you consider both the spread and commission policy of the trading platform before signing up.
Leading on from the above sections, both CFDs and forex attract overnight financing fees as they are leveraged financial products. In simple terms, this means that the trading platform will charge you a daily fee when you keep a position open overnight.
Each platform will implement this fee at a different time of the day – say 8 pm. This means that were you to keep a trade open past 8 pm, the daily overnight financing fee would kick in. The specific amount that you pay will vary depending on the market and stock broker in question.
But, it’s calculated as a percentage, so the more you stake, the more you will pay. Crucially, the best trading platforms Australia offer super-competitive overnight financing rates. This allows you to keep your position open for longer without getting your margins eaten away at.
When using the best Australia trading platforms, other brokerage fees might come into play.
This might include:
Understanding what fees you need to pay can be challenging, so we prefer trading platforms that are upfront about their charges.
We find that the best trading platforms Australia offer a good range of tools and features to suit traders of all shapes and sizes.
This might include:
If you want to invest in shares but don’t fancy paying $3,000+ to buy a single Amazon stock – it’s best to use a trading platform that offers fractional ownership. This allows you to buy a small fraction of a stock, which is not only great for those on a budget but for diversification purposes, too. On eToro, you can buy stocks from just $50 – irrespective of the firm’s current share price.
If you are planning to use a trading platform for the first time, check to see if the provider offers any educational resources. In its most basic form, this might be an assortment of trading guides and blogs. The best Australian trading platforms go one step further by offering webinars, training videos, and even courses.
If you’re looking to invest in the financial markets but don’t have the time to do so – why not consider a platform that offers Copy Trading tools?
On eToro, for example, the platform is home to thousands of verified traders. Once you find a trader that meets your financial goals and appetite for risk, you can copy their portfolio.
You can also copy all ongoing positions that the trader enters, meaning that you can actively trade without needing to lift a finger. For example, if the trader buys Apple shares, you will do the same. If they offload the shares a few days later, as will you!
Risk management tools are crucial when trading online and will ensure that you do not lose more than you had hoped. The best trading platforms offer several risk management tools, such as stop-loss orders.
If for example, you wanted to trade Bitcoin but you don’t want to lose more than 3% of your stake, this is where a stop-loss order would come into play.
If you want to amplify the size of your trading capital, then you’ll want to use a platform that offers leverage. As we briefly noted earlier, Australians will be capped to the amount of leverage they can apply from April 2021 if they are classed as a retail trader. That’s essentially anyone that doesn’t meet the requirements of a professional trader.
In a similar nature to the caps imposed in the UK and Europe, the best brokers Australia will be able to offer you the following leverage limits:
As you can see, the best Australia trading platforms will still be able to offer you leverage of up to 1:30 – so that’s 30 times the size of your account balance.
If you are yet to trade assets in the online space, we would suggest starting off with a demo account. These are offered by all of the best Australia trading platforms that we have discussed on this page. Put simply, these demo accounts mirror live market conditions. But, you won’t be required to risk any money.
Instead, you’ll be trading with paper funds. eToro offers a demo account facility that is pre-loaded with $100,000 and there is no requirement to make a deposit to gain access. You can use the demo account for as long as you wish and when you are ready to start trading with real money, it’s then just a case of making a deposit.
More and more Australians are using mobile apps to invest and trade online. This offers a super convenient way to access the financial markets – irrespective of where you are located.
In particular, top-rated mobile trading apps are great for placing last-minute orders when you are away from your main desktop device. For example, you might spot a trading opportunity while out of the house – of gold.
Instead of facing the risk of missing this potential profit-making opportunity, you can simply open the app and place the respective order!
ASIC-regulated eToro is a great option if you are looking to combine online trading with a fully-fledged investment app. Available on both iOS and Android operating systems─ you’ll have access to all of the same account features.
If you have a specific Australian payment method that you want to use to find your trading account, check to see if this is supported before signing up.
The best trading platforms discussed on this page allow you to instantly make a deposit with a debit or credit card. Some providers also support e-wallets like Paypal. However, some online brokers in Australia only support bank transfers, so be prepared to wait several days before the funds arrive.
While this might be fine for long-term investors, it won’t be if you need to place an immediate trade and your brokerage account balance doesn’t have enough funds to cover it!
Depending on your chosen Australian trading platform, customer support might be available via the following channels:
The best providers will offer a live chat facility, as this is a quick and burden-free way of getting assistance. In some cases, you might be forced to send an email, which can take hours or even days to yield a response.
The key to successful trading is to develop a strong strategy that mitigates risk and increases your chances of making profit. There are many different strategies that you could consider for your trading and every trader will have a unique preference as to which strategy works best. A good idea is to use a demo account to test several strategies before settling on one.
Here are some popular strategies that you may want to try.
Buying the dip involves placing a buy order on an asset after the price has dropped. This is done with the belief that the price will eventually surge back to a higher level. The assumption here is that price will always return to where it has been. The tricky part is understanding when this might happen and whether or not the price will continue to fall before rising again.
Before buying the dip, it is common to conduct chart analysis to determine possible levels of resistance or support. These are then used by traders to set a stop-loss and take-profit to minimize the risk involved with the trade.
Breakouts in the stock market refer to the price of an asset moving above a resistance level or dropping below a support level. Breaking through these levels often signifies strong movement in the related direction.
Breakout trading is the process of spotting these trends when they begin and placing buy or sell orders to profit as the trend continues. If the trend continues, this strategy can results in excellent profits. However, there is always a chance that a breakout could be false and the trend will turn.
Price action trading involves studying the past price movement of the market and placing trades accordingly. Traders who use this strategy typically look for patterns that signify the price will move in one way or another. These patterns are determined through fundamental and technical analysis.
Price action trading is usually done with candle stick charts. Each candle represents the price movement of an asset over a previous period of time. Common candlestick patterns to look out for include bullish/bearish pin bars, engulfing candles and dojis.
There are many different types of fees that are involved with using a trading platform. As a result, it can be tricky to say which one is the cheapest. However, eToro is a good option if you want to start trading with a small budget. This is because the minimum deposit is just $20 and no fees are charged for deposits or account management. Furthermore, the platform offers a free-to-use demo trading account.
It is also worth considered the cost of placing trades. eToro offers tight spreads but will charge you $5 to withdraw any profits that you make. Before choosing a trading platform, consider whether the costs of trading outweigh potential profits.
Overall, eToro is considered to be the best trading platform for beginner’s in Australia. This is because the broker offers a variety of high quality educational resources and research tools that can be used to leanr about the markets as well as trading strategies. eToro also provides a demo trading account which is recommended to beginner’s before putting any real money on the line.
Other platforms that could also be considered by beginner traders include AvaTrade and ANZ. These platforms offer slightly different services to eToro but both have easy-to-use interfaces and excellent customer support. Additionally, ANZ has no minimum deposit so you can start trading with as little as you like.
If you’ve made it this far – you should now know which Australian trading platform is right for your needs. If so, there is just one more step to take – placing your first trade!
If you’re a complete novice and need a bit of guidance, following the steps below to start trading with ASIC-regulated platform eToro, our recommended best broker Australia, in less than 10 minutes.
As an ASIC-regulated broker, eToro will need you to go through a quick account opening process. To get the ball rolling, click on the ‘Join Now’ button – which you’ll find on the homepage.
Follow the on-screen instructions by supplying eToro with your personal information and contact details.
eToro will also ask you to upload some verification documents. The good news is that unlike traditional brokers, the documents can be verified automatically. This means that you don’t need to wait days for the broker to manually review your documents.
The two documents required by eToro are:
Once you upload the above, all account restrictions will be lifted – which means you can deposit more than $2,250 and make a withdrawal request.
If you want to practice your trading endeavors depositing real money, head over to the eToro demo account facility.
If, however, you want to start trading with real funds, you can make a deposit with one of the following payment methods:
As soon as you have made a deposit, you can then search the eToro asset library for your chosen market. In our example, we are looking to trade GameStop shares, so we enter the company into the search box and then click on ‘Trade’.
Once you have clicked on the ‘Trade’ button, an order box will appear. This is where you need to tell eToro what trade you wish to place.
The most important fields that you need to complete are as follows:
It’s also wise to set up a stop-loss and take-profit order on your trade. This will allow you to limit your potential losses and lock in gains automatically.
Finally, click on the ‘Open Trade’ button to complete your commission-free trade!
Successful trading and investing requires understanding market conditions. One way to do this is to stay on top of the latest news. Here are the top stories from the week beginning the 31st October 2022.
This guide has discussed everything there is to know about finding the best online trading platform in Australia for you and your financial goals. We have stressed the importance of focusing on key metrics like regulation, tradable markets, fees, and customer service.
Although we have reviewed a selection of top-rated providers, we found that eToro wins the award as the best Australian trading platform of 2023.
This ASIC-regulated trading platform supports traditional assets like stocks as well as CFD trading markets – all of a commission-free basis. Plus, eToro is perfect for beginners and it takes just 10 minutes to get started!
Your capital is at risk.
67% of retail investor accounts lose money when trading CFDs with this provider.
Best Australia Stock, Forex, CFD, Crypto, Social or Day Trading Platform that meets your needs.