Top 5 Australian Share Trading Platforms for 2020

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Author: victoria briano

Traders in Australia looking to participate in share trading have plenty of options at their disposal when it comes to choosing best online share trading platforms.

With this in mind, we have curated a comprehensive review of the best share trading platforms in Australia. Our in-depth analysis of these share trading platforms and accounts in Australia breaks down the highlights, offerings and downsides of these services.

Read on to find the best share trading platform for your trading needs.

    Top Australian Share Trading Platform

    eToro took the title of best overall Australian share trading platform as it surpassed its competitors in a number of aspects. We assessed the top share trading platforms and accounts in Australia based on aspects such as user-friendliness, cost, mobile access, reputation, fees and trading tools.

    In all of these aspects, eToro excelled, emerging as the most well-rounded Australian shares platform. It has excellent accessibility, allowing users to trade Australian stocks on a desktop, web-based and mobile app.

    Furthermore, it is one of the most user-friendly trading platforms, with plenty of resources for beginners. Regulated by the Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC) among other tier-1 authorities, it has a sterling reputation for security.

    When it comes to trading fees, no other online stock brokers in Australia offer free trading for any class of users. And its trading tools and research features are the best in class.

    Based on these and other features discussed in greater detail below, eToro deserves the title of the best share trading platform in Australia. If you’d like to learn a little more check out our eToro review!

    eToro: Best AU Share Trading Platform

    Our rating

    • ASIC regulated
    • 800+ shares to buy outright or trade as CFDs
    • Social and copy trading available
    AFSL 491139. High risk to capital.

     

    Plus500: Best Mobile App Share Trading Platform

    Founded in Israel in 2008, Plus500 is a regulated trading platform under the ASIC as well as other top-tier authorities like the FCA (UK). In addition to its regulatory status, it is considered to be a secure choice since it discloses its financials and is listed on a stock exchange.

    Plus500 has one of the widest offerings of stocks globally. It allows its users to trade over 2,000 stocks. It also offers at least 1,000 Wall Street shares (NYSE) and others from the Italian FTSE, UK’s LSE and many more. And you can trade with a leverage of 1:300.

    However, when it comes to trading and investment, there are limited options as the only stocks available are equity CFDs. In this respect, eToro is superior as it offers both of these instruments in addition to a host of others. But the selection of CFDs here is quite impressive.

    Research options on Plus500 are limited as it does not provide fundamental data and trading ideas, unlike eToro. But the charting tool is great, with 107 technical indicators as well as excellent editing tools. Another great thing is that you can save your charts.

    The aforementioned Trader’s Sentiment tool is another great feature of the research section. It gives you an idea of the direction other traders are going.

    Customer support is available 24/7 and quickly accessible both on email and live chat. And though there is no phone support, you can reach the team via WhatsApp.

    For beginners, there is a demo account and some basic videos. However, there are no tutorial videos to help you get a grasp on trading.

    Share Trading Fees:

    • AUD/USD Spread – 0.6 pips or 0.10%
    • EUR/USD Spread – 0.6 pips or 0.10%
    • Commission for trading CFD shares – 0%

    Other Fees:

    • Account fees – None
    • Deposit fee – None
    • Withdrawal fees - $0 for 5 withdrawals, $10 per withdrawal afterwards
    • Inactivity fee - $10 quarterly after 3 months of inactivity (You can avoid it by simply logging in.)

    • User-friendly platform
    • Excellent mobile app
    • Listed on the London Stock Exchange (LSE)
    • Limited research tools
    • Few investment offerings

    Pepperstone: Lowest Fee AU Share Trading Platform

    Established in 2010, Pepperstone is a regulated entity operating under the ASIC and FCA. It offers some of the lowest spreads in the Australian market.

    On this site, you can only trade share CFDs, and not physical stocks. In this case, eToro is superior as you can do both. There are over 60 top quality stocks that include big names like IBM, Facebook, Boeing and Exxon. Leverage for trading shares CFDs on Pepperstone is 20:1 and the margin is 5%.

    Additionally, it allows for direct access to over 150 financial service providers, 400+ buy and sell firms as well as more than 60 exchanges. Another reason behind its reputation for tight spreads is its Price Improvement Technology.

    When it comes to pricing, the best choice is an account known as the Razor account. It is a commission-based account that incorporates fees on prevailing spreads. The Standard account has higher spreads, so even though it is commission-free, its fees are higher. Users on the Active Trader program get even better rates thanks to its discount program.

    Pepperstone uses third-party trading platforms as it does not have its own proprietary app. Though this is a downside, they make it work to their advantage by offering access to almost every top-tier third party platform.

    Research features are above average as you will find trading ideas that are based on technical tools, as well as quality market reports. However, there is no fundamental data and poor quality news feed.

    For beginners, there is a demo account, webinars, plenty of educational texts and a tutorial for the trading platforms.

    Customer support is accessible via live chat, email and phone, all of which offer fast responses. But these are not available 24/7.

    Share Trading Fees (CFDs):

    • Commission - $0.02 per share
    • Spread costs – Taken from NYSE, no pips added

    Other Fees:

    • Account Maintenance - $0
    • Withdrawals - $0
    • Deposits -$0
    • Inactivity - $0

    • Highly competitive fees
    • Tight spreads
    • Regulated by top-tier authorities
    • No proprietary trading platform

    IG Markets: Best Platform for Research and Tools

    • Robust research tools
    • Excellent educational resources
    • Regulated by top tier authorities and publicly traded
    • Poor phone support

    AvaTrade: Best for Reputation

    Founded in 2006, AvaTrade has created a stellar reputation in the market. It is a regulated entity under a number of financial authorities including the ASIC and Central Bank of Ireland.

    The Irish platform only offers forex and CFDs for its Australian users, with 19 stock indices on its CFD markets. There are no real stocks or mutual funds. In this regard, it falls below eToro which has physical stocks as well and a much wider product offering.

    It makes use of trading platforms from MetaTrader, offering multiple language support and a highly customizable interface. But it also has two of its own apps, AvaOptions for forex trading and Webtrader for general trading. However, these are not accessible in Australia.

    One of the factors contributing to its great reputation is the social trading feature. It makes use of two third parties, ZuluTrade and DupllTrade, to allow users to copy others’ trades. However, the feature is not as extensive as eToro’s.

    Both its trading and non-trading fees are average, but there is an inactivity fee and an administration fee.

    Research features are above average, thanks to its integration with Autochartist. Charting tools are great and you can make use of 31 technical indicators.

    There is a demo account on AvaTrade as well as a host of other educational materials including tutorials and educational videos. But there are no webinars.

    When it comes to customer support, live chat is the best option, accessible in multiple languages. You can also use phone support but it’s not the most reliable, and it’s not accessible 24/7.

    Share Trading Fees:

    • Stocks – 0.0028%
    • Commission – None

    Other Fees:

    • Inactivity Fee – $50 after 3 months
    • Deposit Fee - $0
    • Withdrawal Fee - $0
    • Administration Fee - $100 after a year of inactivity

    • Uses both proprietary and third-party trading platforms
    • Offers an opportunity for copy trading
    • Regulated service
    • Fee structure not transparent
    • Limited product offering

    How to Choose an Australian Share Broker

    Share trading services differ remarkably in features, offerings and other respects. However, some of the aspects that define a good platform overlap. These overlapping aspects make it possible to make a comparative analysis and tell apart the best from the average.

    To help you along, we have analyzed some of the key features that the best share trading platforms Australia should have. Take a look below.

    • Fees

    Fees differ significantly from one platform to the next. These include trading and non-trading fees, all of which can eat into your gains.

    eToro excels in this regard as it offers zero commissions stock trading. Pepperstone’s $0.02 commission per share is also highly competitive.

    • Access to Different Markets

    The best trading platforms offer opportunities to trade shares in different markets.

    A platform like eToro will give you access to international markers, and so will Plus500 and IG Markets. However, Pepperstone and AvaTrade have a relatively limited scope.

    • Security

    The safety of your funds is without a doubt one of the most important considerations to make when choosing a service. Regulated providers have to adhere to the stringent security measures stipulated by the ASIC. This includes keeping user funds in a segregated account among others.

    All of the ANZ share trading platforms discussed above are regulated by the ASIC.

    • Customer Support

    No matter your level of experience, from time to time you will likely experience problems and require assistance. Live chat is one of the best support features as it is likely to offer immediate responses.

    eToro takes the day with regards to customer support, as the team has a reputation for being polite, helpful and patient.

    • Trading Platform

    Find a trading platform that matches your trading style and also your tech needs.

    From the 5 platforms discussed above, Plus500 and eToro offer some of the best trading platforms.

    • Ease of Use

    Whether you are a veteran share trader or a newbie, user-friendliness is a crucial factor to consider. Trading is complex enough without being made more complicated by a trading platform.

    eToro, IG and Plus500 have highly intuitive interfaces that can new traders will like.

    • Accessibility

    If you want to have the ability to trade on your desktop as well as your phone, then eToro is the best share trading platform for you. Only eToro offers accessibility on desktop, mobile and on the web.

    • Education

    For newbies, this is one of the most important features when choosing a service. What types of education resources are available? And what is the quality of information available?

    On Pepperstone, eToro and AvaTrade, you will find one of the handiest education tools, a demo account. And eToro’s account stands out above the rest as it has $100,000 in virtual money.

    • Account Offerings

    Depending on whether you want to make a long-term investment or not, there are different accounts to choose from.

    The Razor account on Pepperstone and Professional account on eToro are some of the best options available.

    • Service Reliability

    At the end of the day, everyone wants a reliable service that executes flawlessly for easy trading. And the service in question should function seamlessly on the different operating systems.

    IG Markets and eToro have some of the most robust and reliable platforms, with high execution speeds and responsive interfaces.

    Conclusion

    All the Australian share trading platforms discussed above are secure and can provide you with all the tools you need to hone your trading skills. Pick one of them and start share trading today!

    Lastly, if you are still new to share trading, remember to only invest what you can afford to lose. Only trade a huge amount of money once you’re confident about your trading skills.

    eToro: Best AU Share Trading Platform

    Our rating

    • ASIC regulated
    • 800+ shares to buy outright or trade as CFDs
    • Social and copy trading available
    AFSL 491139. High risk to capital.

    FAQs

    Are share trading platforms in Australia safe?

    The Australian share trading platforms mentioned above are proven to be safe. They are also regulated by the Australian Securities & Investments Commission (ASIC).

    Which Australian share trading platfrom is best for beginners?

    eToro is the best share trading platform Australia for beginners. You can take advantage of its copy trading platform and great educational resources.

    How much do I need to start share trading in Australia?

    eToro only requires Australians to have a minimum deposit of $50 to start trading.

    Is it easy to create a share trading account?

    Yes. All you need to do is provide your name, email and password to create a share trading account. It will only take you a few minutes to do so.

    What payment methods are supported by Australian share trading platforms?

    Most of the share trading platforms in Australia support credit/debit card, PayPal and wire transfer as payment methods.

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    75% of retail investors lose money when trading CFDs with eToro.

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