With our post dedicated to the best trading platforms in Australia, you will find out how to choose the most suitable online broker with excellent features. We will reveal what to expect when registering with one of such brokers in terms of fees and commissions. Read how to open an account and start trading on an online trading platform. Get the best out of your trading experience with our overview of the top platforms you can use in Australia.
What is Online Share Trading?
Online share trading is the modern option of buying and selling stocks online that is being conducted via online trading platforms with no need to call a broker and spend forever and a day for the confirmation of each transaction. It has replaced an old inconvenient and time-consuming method of stock trading via brick and mortar brokerage firms. Using your account on one of the best Australian trading platforms, you will be eligible to trade without an unnecessary intermediate agent. It will make the overall trading experience significantly affordable and convenient.
TOP 10 Australian Trading Platforms
- CMC Markets Invest – the platform is famous for its low fees that reduce with the higher number of trades performed. The platform opens access to a huge choice of investment instruments like mutual funds, interest rates, and shares.
- Superhero share trading – well-known for its serious attitude to security brokers. To access your account you will need to go through a two–factor authentication. You will find that US shares go with $0 commission and Aussie shares with only a $5 commission fee.
- eToro (global stocks) – with the headquarters in Sydney, the online broker operates under the Australian Securities and Investments Commission. It offers the most favorable conditions to beginner traders with a plethora of accessible learning materials and copies trading tools.
- SelfWealth (Basic account) – a huge benefit of the low-cost online broker is its amazing research tools like a stock screener that can be accessed via any gadget. With the platform, you can perform payments via the most popular payment options for Australian traders like bank cards and Skrill.
- Interactive Brokers Australia – the platform that will be interesting to experienced traders. It is renowned for the lowest margin lending rates. The fees on a stock trading range between 0.015% and 0.08%.
- Sharesies – among the advantages that the broker is ready to offer to its customers are no requirements to the minimum investment and the choice among thousands of Aussie, US, and NZ companies to buy shares.
- Saxo Markets – allows trading a huge variety of assets via a single account. With its demo account, it will be easy for a trader to quickly learn the main trading principles and move on to real money trading.
- Superhero Live Account – if you are not ready to play it big and invest huge sums of money in trading, then the online trading platform is for you. Trade ASX shares and EFTs with one of the lowest brokerage rates out there.
- ThinkMarkets Share Trading – start with $25000 on your demo account and get the experience you need for live trading. Link your bank account to the website and get 10 ASX shares for free.
- IG Markets – the trading platform is famous for their great selection of instructional resources and research instruments. Well-structured website with clearly featured fees, trading offers and all the necessary features makes trading an easy activity. Choose among 80 currency pairs available on the platform to trade Forex.
What To Consider Before Choosing Best Australian Trading Platform
Before you make your choice on the best Australian share trading platform you’d like to use for buying and selling stocks, consider several criteria. Decide on whether you’d like to trade more actively, make sure to have access to good charting tools and can settle all the necessary notifications. Don’t forget to check if a website is convenient for you and respond to your personal needs.
Easy Of Use
Buying and selling stocks on the online stock exchange market appears to be challenging especially for beginners, and it frequently necessitates immediate responses to market movements. Therefore, it is highly important to find the best share trading platform for beginners in Australia that will enable you to execute transactions quickly, easily, and precisely with minimal effort. First, make sure that the interface of such a platform is user-friendly, simple, and straightforward. It will allow you to easily find all the sections and use the full functionality of a web-based or downloadable free trading application.
Costs may be a factor of significant importance when choosing an online stockbroker. Although, you may think to look for a platform with a bunch of commission-free services, sometimes minor charges are justifiable. Especially if a broker offers premium useful functions that you won’t find on any other websites. But keep in mind that you aim to gain as much profit as possible and there is no need to lose a penny of your invested capital return to broker account fees and high rates of different trading commissions.
What Can You Trade
There are various asset classes that you can trade via the best trading platforms in Australia. You can decide to own a share of a mutual fund that will make you a stakeholder of a small part of a company reducing risks related to owning stocks. You can buy and sell commodities like precious metals (gold, silver, etc.), oil, orange juice, grain, electricity, natural gas, and many others. Currency pairs (USD/EUR; USD/JPY; AUD/USD) are also available to trade through the trading websites.
Access To Market Data
The key factor that differentiates trading platforms with the most professional attitude from a scam is access to relevant market data. This should incorporate real-time news reports, an overview of different financial sectors, detailed profiles of companies including historical references, reports on cash flow and balance sheets, etc. Also, pay close attention to whether there is an opportunity to find information on both domestic and international markets; the variety of industries and economic sectors.
While all the other mentioned factors may seem more important, you shouldn’t underestimate the availability of good educational materials on the chosen best online share trading platform in Australia. It is especially useful for novice traders who should have the chance to look up the unfamiliar terminology and get help interpreting information. If there is a theme or metric you are not completely sure about trying the search tool on the site to check how fast and easy you can find what you need. Among the choices that will shed light on the topic of your interest, you should see glossaries, articles, dedicated posts, fundamental studies, and user forums where you can communicate with other traders. It will be an extra advantage if you get access to educational video materials and webinars. Use any opportunity to improve and become better in trading that a platform provides.
For traders who wish to actively participate in the overall trading process, it is a matter of huge significance to receive the latest reports on/her performance as well as live-time notifications about the changes in the trading market. With the top brokers, you can set up whether you’d like to get price drop alerts, news reports, or other notifications via email, on your app, or text messages.
The crucial thing to find out before registering with an online broker is the legality of its work in your country and how well your sensitive data will be protected. A trading platform should be licensed by one of the official independent regulatory authorities like, for example, FINRA (The Financial Industry Regulatory Authority) or VFSC (Vanuatu Financial Services Commission). As to the security measures adopted by the best trading platforms in Australia, there should be the possibility to enable features that provide additional security next to a password. This can be a two-factor authentication with a code from email/SMS or an extra physical safety key that you can utilize through your USB port. The highest level of electronic data encryption that protects your sensitive data from advertisers and other third parties is also an important thing to consider before choosing a suitable platform.
When you have checked the features of an online share trading platform and found it suitable for your needs, it is time to test its customer support service. Make sure that a broker presents an opportunity to contact the support agents through different channels like a live chat, and phone call. The possibility to send email queries or use video chat would be an extra benefit. There also should be a selection of languages in the support available. Moreover, all the responses should be fast, clear, and short-spoken.
In comparison to common online brokers, the best Australian share trading platform should provide traders with the superb technical features of its online portal. All the features of the website should be easily accessible through a variety of gadgets. It is especially significant for those who would like to use their trading accounts wherever they are. Adjustable web-based or specifically developed Android/iOS applications are created by the best brokers featured in the post to ensure the highest compatibility with any gadget.
Fees To Pay
Figuring out how much you are required to pay and for what services are provided by an online trading platform is crucial before you start trading for real money on a chosen website. The fees may be related to the operations conducted in your account, like withdrawing money, etc. There are also commissions charged for any trading activity on the best Australian share trading platform. They differ and depend on the number of transactions completed during a period of time.
Every broker charges the percentage of the profit you make on its platform. The strategies that various brokers apply may differ. There are two opposite directions they can choose to maintain. The first one implies the increase of a brokerage commission after a certain number of trading transactions. Some sites, on the other hand, provide lower fees in a particular quarter for traders who use their platform more frequently.
Pay attention to any ongoing fees that can be charged by one of the best trading platforms in Australia for handling your investments. These are costs for investigating financial data, and for maintenance of your account on the platform. They can be paid monthly or annually. Check what the conditions of such commissions are and whether they are charged when you do not use your account actively for some time.
While funding your trading account is, as a rule, a question of a couple of seconds and doesn’t require any extra fees to pay, it may be a different state of things with the withdrawal process. As a rule, the best Australian trading platforms provide the free-of-charge option to cash out your funds which will take between 1 and 24 hours. However, make sure to check all the requirements and conditions of making withdrawals in the terms and conditions section on the broker’s website.
Foreign Exchange Fees
When you trade foreign currency you will be charged foreign exchange fees that usually range from 1% to 3% of the transaction value. Some brokers offer a 0.5 % size of the exchange rate to create more attractive conditions for FX traders. To avoid such commissions it is highly advisable to trade Forex in the currency that is settled as a base currency for your account. As to any foreign-currency earnings they are automatically converted into your domestic currency.
How To Trade Shares In Best Share Trading Platform In Australia
To trade shares, start with choosing one of the best trading platforms in Australia featured in our post. When you click on one of the links, you will be transferred to the homepage of its website. After that proceed with the following steps:
1. Open and verify an account. Find the “Register” button and click on it. You will see a registration form that you will be required to fill in with some of the personal information (name, contact details). As an alternative, you can use one of your social media accounts to sign up with a chosen site. After you go through the verification procedure via your phone or email, you will be able to use the full functionality of your account.
2. Deposit funds. To start trading for real money, you will need to make the first deposit. The size of the minimum deposit differs and may also depend on the type of account you chose. Thus, the sum may vary between $10 and $3000, for example.
3. Search A trading market. Choosing an appropriate share trading market is the most significant thing that will influence your trading results and the sizes of your earnings. The top Australian trading platforms are known for their broad choice of marketplaces to trade on. Forex, futures, different commodities, shares in start-ups, and well-established companies are some examples of what you can trade with online brokers. When selecting one of those, take into account your trading style, the time you are ready to devote to the activity, financial possibilities, and location.
4. Place Trade. When you have completed all the previous steps, it is time to place trades. If you are an experienced trader, use your background knowledge and previously acquired experience to buy and sell stocks. If you are a newbie, use the Copy Trading option that is available on the best trading platforms. It will allow you to follow and repeat the strategies of successful traders and earn money from the beginning of your trading career.
Why To Trade Shares In AUS
There are a couple of reasons why you should start trading shares with one of the top Australian trading platforms:
- Easy To Buy & Sell – with such an intermediary you can buy and sell investments in minutes. To make things easier for traders, there are various helpful tools like market news and research, tutorials, financial planning, and even the services of a personal advisor.
- Double Earning – you can double your earnings with the help of bonus and promotion programs applied by the top AUS brokers. Follow the latest promos on the chosen site and use your chance to increase your income on the spot.
- Permanent Passive Income – automatic mode and the copy trading function will create wonderful conditions for earning money without your interference. Just get notifications on your mobile on how much money you got for each transaction.
- Get Ahead Of Inflation – certain markets perform especially well during inflation. If you buy shares of the companies that can raise prices on their products it will help you to stay ahead of inflation.
With the most modern accessible investment tools and trading features that you will be able to find on the best Australian trading platforms, you will become a professional trader in no time. The online brokers offer the possibility to learn with the help of podcasts, articles, free ebooks, and tutorials. Copy and social trading instruments will make it extra easy to adapt useful trading habits and quickly earn huge income.
Frequently Asked Questions
The best share trading platform for beginners in Australia is the one that provides the possibility to invest a smaller amount of money in stocks, takes lower commissions, and provides good educational tools. For example, Superhero or SelfWealth platforms.
The best online share trading platform in Australia is the licensed online broker with high demands for security and a great selection of trading assets to choose from. Check out our list of such brokers above in the post.
To choose the best trading platform in Australia, consider whether it is a licensed platform compatible with any device with a user-friendly interface, good choice of markets, and the affordable brokerage fees.