Best International Trading Platform in Australia 2023
There are many options available to Australians who want to trade shares on the stock market. Many online brokers offer a wide range of services, from discount to full-service, while others are known for their trading tools or research.
We have listed for you the best international trading platform in Australia in 2023. In addition to selecting quality online brokers, we checked and compared every aspect of their services with an emphasis on , safety, trading platforms, and deposit and withdrawal options.
2 Providers that match your filters
Payment methods
Features
Customer service
Classification
Mobile App
Fixed commissions per operation
Account Fee
Rating
- 0% commissions on the purchase of shares
- Friendly and easy-to-use platform
- Highly regulated broker
68% of retail investor accounts lose money when trading CFDs with this provider.
Account Info
Fees per operation
Rating
- No deposit or withdrawal fees
- Trade major forex pairs such as EUR/USD with leverage up to 1:400 and tight spreads of 0.9 pips
- Low $100 minimum deposit to open a trading account
71% of retail investor accounts lose money when trading CFDs with this provider.
Account Info
Fees per operation
In This Guide
- 1 Best International Trading Platform Australia (List)
- 2 Best International Trading Platforms in Australia- Reviewed
- 3 What is International Stock Trading?
- 4 Benefits of International Stock Trading
- 5 How To Start International Trading In Australia With eToro
- 6 Best International Trading Platforms in Australia- Conclusion
- 7 eToro – Overall Best International Trading Platform In Australia
- 8 FAQs
Best International Trading Platform Australia (List)
Below you will find a list of Australia’s best international trading platforms in 2023.
- eToro – Overall Best International Trading Platform in Australia 2023
- Interactive Brokers – Best International Trading Platform Australia for Stocks
- Saxo Bank – International Company with Various Online Trading Services
Best International Trading Platforms in Australia- Reviewed
The sections below will provide a comprehensive review of Australia’s best international trading platforms.
Review criteria include fees and commissions, minimum account balances, supported asset classes and markets, regulation and licensing, and user-friendliness.
1. eToro – Overall Best International Trading Platform in Australia for 2023
Regarding Australia’s overall best trading platform for 2023, eToro was a clear winner. With low fees and access to plenty of asset classes, Australian investors of all skill levels will appreciate this platform’s user-friendliness. The registration process takes just minutes, and you can start using your account immediately.
After setting up an account, investors can access over 2,500 stocks from over 17 marketplaces for just $50. Listed companies include those in the UK, the US, Saudi Arabia, Hong Kong, Germany, Canada, and more. Additionally, more than 250 ETFs are supported.
The eToro platform allows you to buy and sell stocks and ETFs with 0% commission. There is a minimum investment of just $10 per trade. Besides stocks and ETFs, Australian investors can also invest in cryptocurrencies through eToro. Approximately 60+ digital currencies are supported, such as Bitcoin, Ethereum, Dogecoin, Cardano, and BNB.
Along with indices and forex, eToro offers markets on commodities such as gold and natural gas. This popular trading platform also has a mobile app for iOS and Android smartphones. By doing so, clients can trade assets on the move, check their outstanding investments, and make deposits and withdrawals.
As an additional feature, eToro also offers a free demo account that comes pre-loaded with $100k in demo funds so that investors can practice and perfect new trading strategies without risking any capital. Additionally, eToro’s Copy Trading feature is worth exploring if you are looking for a passive investment journey. In this way, clients can learn from experienced investors who use eToro. All buy and sell positions the investor enters will automatically be carried over to the user’s portfolio.
Additionally, eToro offers dozens of Smart Portfolios. Pre-made, professionally managed Smart Portfolios track specific markets (e.g., renewable energy stocks) or strategies (e.g., high-yield dividend stocks).
eToro, on the other hand, is a heavily regulated broker when it comes to licensing. As well as with regulators in the US, UK, and Cyprus, this includes the Australian Securities & Investments Commission (ASIC). There are over 25 million clients using eToro’s trading platform in the investment scene.
Australians can also deposit funds easily with eToro. In addition to bank wire transfers, eToro accepts debit and credit cards, POLi, and e-wallets such as PayPal. Aside from educational resources, eToro offers guides and videos on core trading practices for beginners.
Pros:
- Australia's best stock trading platform
- There is no commission on thousands of international stocks
- Cryptocurrencies and ETFs are also supported
- The minimum deposit is just $10
- Smart portfolios and copy trading
- Mobile app with the highest rating
Cons:
- High-frequency trading is not recommended
67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
2. Interactive Brokers - Best International Trading Platform Australia for Stocks
You might want to consider Interactive Brokers if you're looking for a top-rated online stock trading platform in Australia. A hugely popular online broker gives you access to more than 135 global markets in 33 countries.
The US, UK, Europe, Asia, and Australia are included. Investing in international shares from several stock markets gives you a chance to build a diverse portfolio. You can invest in stocks in the traditional sense or trade them as CFDs with Interactive Brokers.
Thus, it is important to note that this top-rated Australian online brokerage platform is suitable for both long-term and short-term strategies in the financial markets. If you prefer the former, you can invest in ETFs and investment funds through Interactive Broker. In addition, pre-selected portfolios are also available that cover a variety of risk levels and financial goals for you to choose from.
Interactive Brokers' pricing structure can be confusing at first glance regarding fees. In addition to the asset you wish to trade, your commission will also depend on your account type. However, Interactive Brokers allows commission-free trading of US-listed stocks and ETFs.
The result of this is that now you have the opportunity to purchase shares in Amazon, Facebook, Tesla, IBM, and many more - without getting hammered with fees. With regards to the level of safety Interactive Brokers offers, it has been providing financial trading services for more than four decades. It is heavily regulated since it is a US-based brokerage firm.
Pros:
- A large collection of traditional stocks
- Coverage of dozens of exchanges and markets
- Support is also provided for CFD instruments
- There is no minimum deposit required
- Fees start at $0.005 per share
Cons:
- Suitable for experienced investors and traders
- Bank transfers only - no debit/credit cards
4. Saxo Bank - International Company with Various Online Trading Services
Saxo Bank (Saxo Capital Markets) is an investment bank established in Denmark in 1992. The company provides various online trading services to retail and institutional investors based on their requirements and needs. There is no doubt that Saxo Bank is completely regulated, and it adheres to strict regulatory compliance across several jurisdictions, which include Denmark, the UK, Australia, and Singapore, among many others. Furthermore, Saxo capital markets offer over 35,000 tradable assets and have customers in more than 170 countries. In addition to traditional share broking services, it offers Forex, CFDs, futures, and mutual funds.
With Saxo Bank, you can access the trading platform via your web browser, offering numerous features with high-security levels. To open an account with this broker, clients must provide a copy of their passport, driver's license, or government identification. In addition, some account types protect user data during the login process.
Like any online trading broker, Saxo Trading offers its customers several trading instruments. In addition, it offers several services and managed portfolios for them. Managed portfolios involve an experienced team of professionals from Saxo Bank purchasing and selling assets on the customer's behalf. In these managed accounts, there is no lock-in period, so that traders can withdraw their funds anytime.
Per our Saxo Bank review, this broker offers a wide range of educational materials and trading courses covering futures, bonds, CFDs, equities, forex, and options. In addition to being easy to understand, the course is beneficial to both new and experienced traders.
Pros:
- Traders can choose from over 35,000 tradable instruments at Saxo Bank and invest in asset classes.
- Trading with Saxo can also be done through a third-party platform that provides the trader with customized tools.
- It offers short-term clients Forex, futures & options, and CFD trading services.
- Additionally, the company offers mutual funds, which clients can use regardless of their trading experience.
- Globally, Saxo Bank is regulated by several licensing bodies.
Cons:
- This broker requires a minimum deposit of $500, which is a major drawback
- Live Chat is not available with these brokers
What is International Stock Trading?
A stock is a financial asset that indicates ownership of a company. Alternatively, they are called shares or equity shares. You own a part of a company if you own stocks (often a small percentage).
You will not be paid any interest on your investment if you own stocks. Rather, you receive dividends when the company makes a profit. Investing in stocks can also be profitable when they go up in value. That means more people are willing to invest in that company, which leads to its capitalization. If you sold it at a higher price than you bought it, your profit would be the difference.
A stock market is a place where stocks are bought and sold daily. The international stock market comprises all international markets that trade stocks from domestic companies. For example, apple stocks can be bought at the local American market, but Sapporo stocks must be bought at the international (Japanese) market. Almost every country has its stock exchange.
Indexes measure fluctuations in the value of stocks in one market. New York's Dow Jones and NASDAQ are some of the most important indices, as well as Japan's Nikkei 225, Frankfurt's DAX, and London's FTSE.
Investing in stocks from developing markets can sometimes be more profitable, but there are also more risks, especially due to currency fluctuations. Consequently, international markets make up only a small portion of the portfolios of commercial banks and other institutional investors, typically between 15 and 25%. Domestic assets account for the difference.
Benefits of International Stock Trading
Most investors are creatures of habit, doing the same thing repeatedly without thinking of approaching the markets differently. As a result, every investor has an entrenched way of choosing investments, whether they invest in stocks, bonds, commodities, or currencies.
Despite this, the best investors always think outside the box when searching for the best ways to deploy their capital. To capture opportunities in the market, they must adapt their portfolios wherever they might arise.
A good way to do this for the average investor, especially right now, is to consider international stocks despite international stocks outperforming the US. Unfortunately, markets over the last quarter-century, many domestic investors still avoid global equities. For most investors, fear of the unknown and loss aversion.
However, history shows that these fears are unfounded. Nevertheless, you should try your hand in the international market if you are an investor, and here are a few reasons why.
Take Advantage of Different Economies
The exposure of your dollars to faster-growing economies may also boost your returns. There may be favorable conditions that enable a foreign industry to grow at a faster rate than one of its counterparts in the home country, such as tax incentives, progressive government leadership, or even access to natural resources that enable the industry to grow at a faster rate than its domestic counterpart.
According to Nauman Anees, CEO of ThinkMarkets, an international brokerage based in Australia and the United Kingdom, international companies could represent an attractive relative market value compared to US peers.
It's almost as if you're investing in another currency by investing in a different country's companies. But, according to Willis, this creates opportunities for growth if these other currencies rise against the dollar.
Diversify Your Portfolio
In the stock market, diversification is often the key to avoiding catastrophic downsides and what better way to diversify than across nations?
Even though domestic and foreign equities are increasingly correlated, diversifying internationally still makes sense for investors, mainly due to lower market valuations. Generally, US stocks trade for roughly 20 times trailing earnings on average, while international developed markets trade for 15 times and emerging markets for 13 times. In addition, international and emerging markets appear to have greater growth potential than the United States.
Decrease Risk
According to Wells Fargo Investment Institute analyst Veronica Willis, stocks and bonds have different risk and return profiles in different countries.
The behavior of a diversified mix of US stocks is more similar to that of US stocks collectively. Willis says that including international stocks in a stock portfolio can reduce risk because US and international stocks don't move simultaneously.
Global Growth
As a mature market, the United States has not experienced as much growth as other economies in recent years. It is well known that growth is cyclical, and investing internationally allows you to profit from shifting economic cycles. It's a great time to diversify internationally because the world economy is in a growth phase.
The International Monetary Fund (IMF) forecasts steady global growth for the foreseeable future. 2018 is expected to see an overall growth of nearly 4%. A 5% rate is expected for developing economies.
Specifically, the IMF projects 7% GDP growth in India and over 6% in China in 2018, highlighting the need for both countries to diversify internationally.
Better Choice of Investments
Through global investing, you can access investment opportunities that are not available domestically. For example, some of the world's largest tech companies are in developed markets like the US - an opportunity you cannot access if you invest in India.
Even better, you can combine multiple sectors into one theme. For example, you can focus on the US market for technology, the European market for engineering, and the Australian market for commodities. There are several options in the US and Europe if you are interested in a career in healthcare or pharmaceuticals.
Through the use of ETFs, you can access a wide range of geographies. Using the EWG ETF, for example, you can invest in German equities or the EWZ ETF, which is listed in Brazil.
How To Start International Trading In Australia With eToro
The Australian trading platform that's right for you should be clear to you by now if you've made it this far. It's just a matter of placing your first order!
In less than 10 minutes, you can start trading with the ASIC-regulated platform eToro, our recommended best broker in Australia, even if you are a complete novice. Follow the steps below for the easiest way to start trading with this platform.
Open an Account and Verify ID
Since eToro is ASIC-regulated, opening an account is quick and easy. On the homepage, click the 'Join Now' button.
Provide your personal and contact information to eToro by following the instructions on the screen. You will also need to upload some verification documents to eToro. That is because documents can be automatically verified, unlike traditional brokers. Doing this means you don't have to wait days for the broker to review your documents manually.
eToro requires two documents:
- A valid passport or driver's license
- The latest utility bill or bank statement
All account restrictions will be lifted by uploading the above, allowing you to deposit more than $2,250 and request withdrawals.
Deposit Funds
The eToro demo account facility is an excellent place for you to practice your trading endeavors before you deposit real money into your account.
In the event, however, you wish to start trading with real funds, you can make a deposit using one of the following methods of payment:
- Visa
- MasterCard
- Maestro
- Paypal
- Skrill
- Neteller
- Bank Transfer
Search for Stocks
After making a deposit, you can search the eToro asset library for your chosen market as soon as you have made your deposit. For example, let's imagine that we are looking to trade GameStop shares, so we enter the company into the search box and then click on the 'Trade' button.
Best International Trading Platforms in Australia- Conclusion
There has been a great deal of information provided in this guide regarding finding the best international trading platform in Australia for you and your financial goals. However, it is important to focus on key metrics such as regulation, tradable markets, fees, and customer service.
Despite our review of top-rated providers, the best international trading platform for 2022 is eToro. This ASIC-regulated trading platform provides commission-free trading on traditional assets like stocks and CFDs. The best part is that eToro is perfect for beginners, and it only takes 10 minutes to get started!
eToro – Overall Best International Trading Platform In Australia
67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
FAQs
What is international stock trading?
The international stock market refers to all the international markets negotiating stocks from their domestic companies.
Can you trade international stocks in Australia?
Yes, of course. All the international trading platforms we have reviewed allow you to do it. However, for a minimum investment, we recommend eToro, where you can find the best stocks on the market.
What is the best trading platform in Australia?
In the Australian trading scene, eToro is as simple as they come. Over 17 million customers use this user-friendly platform to trade assets without learning complicated financial jargon. Despite this, you should still understand the risks associated with trading, even if a trading platform is beginner-friendly.
How to buy Hong Kong stocks in Australia?
Hong Kong stocks are available on eToro, and you can buy them from Australia.
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