We’ve spent over 100 hours testing different trading platforms to put together a reliable trading guide to the best stock brokers and platforms in Australia.
In This Guide
Here are the Best Stock Brokers & Platforms in Australia
- Best Stock Broker in Australia: CMC Markets
- Best Share and Stock Trading Platform in Australia: IG Markets
- One of the Most Popular CFD Stock Brokers in Australia: Plus500
- Best CFD Stock Broker in Australia: CMC Markets
- Best Trading Platform for Day Trading in Australia: Interactive Brokers
Which is the Best Stock Broker in Australia?
CMC Markets is a global trading service based in the UK but with customers and offices all around the globe.
A combination of great trading tools, tons of assets, and long experience in the industry make CMC Markets an excellent choice for most traders.
✔ Huge selection of assets
✔ Well-established broker
✔ Top-notch trading platform
✔ Complicated registration
✔ High spread on stocks
✔ Fees on many transactions
✔ Huge selection of assets
✔ Well-established broker
✔ Top-notch trading platform
✗ Complicated registration
✗ High spread on stocks
✗ Fees on many transactions
Fees: 0 commission on FX and CFDs
Demo Account: Yes
Min Deposit: Zero
Assets: 10,000+
License: CySEC, FCA, ASIC
Although CMC Markets is an international, multi-asset broker, it has made a name for itself, mainly as the best online stock broker in Australia. With access to CFD trading, as well as a Direct Market Access platform, you can trade and invest in stocks using different instruments.
Today, there are thousands of international and Australian stocks listed on the platform so that you can trade whichever companies you feel like, from massive Fortune 500 companies listed on the NYSE to smaller local companies.
And if you ever grow tired of trading stocks, you can switch to one of the other markets that CMC Markets support, for example, forex or cryptocurrencies.
Which is the Best Share and Stock Trading Platform in Australia?
IG Markets is one of the oldest and biggest online brokers in the world.
This UK-based broker has been offering trading opportunities since the early 1970s.
Still to this day, IG Markets keeps trail blazing the industry and setting the standard for all other online brokers.
✔ Real stock trading of the exchanges
✔ Huge selection of international stocks.
✔ High minimum deposit.
✔ Commission on spread betting and CFD stock trading.
✔ Real stock trading of the exchanges
✔ Huge selection of international stocks.
✗ High minimum deposit.
✗ Commission on spread betting and CFD stock trading.
Fees: Low spread & commission.
Demo Account: Yes
Min Deposit: £300
Deposit Options: Visa, Mastercard, PayPal, Bank Transfer
Assets: 10,000+
License: FCA, ASIC, CFTC, MAS
IG Markets is an online broker based in the United Kingdom, and it features one of the biggest selections of stocks on the market. However, in the end, it’s not the massive selection of stocks or the broker’s 40+ years of experience that makes IG Markets so popular, but rather, its platform.
In our opinion, IG Markets’ advanced platform is the best share and stock trading platform in Australia right now. It makes online trading feel seamless and allows everyone to analyse the stock market like a professional.
Which is One of the Most Popular Online Stock Brokers in Australia?
When you trade with Plus500's app, you will be using the highest-ranked trading app for both Android and iOS.
You will also gain access to some of the world's best mobile trading features and a great selection of asset classes.
✔ Easy to use mobile software
✔ Competitive spread
✔ Top rated in both app stores
✔ Limited monthly transactions
✔ Only 2,200 CFD assets on offer
✔ Easy to use mobile software
✔ Competitive spread
✔ Top rated in both app stores
✗ Limited monthly transactions
✗ Only 2,200 CFD assets on offer
Fees: Overnight Funding, Currency Conversion Fee and Inactivity fee (read more about Plus500 fees here)
Demo Account: Yes
Min Deposit: £100
CFD Assets: 2,000+
License: FCA, CySEC, ASIC, FSCA, MAS
Plus500 is a low-fee, multi-asset CFD broker. Although it has quite a small selection of stocks, it is one of the highest-rated online stock trading apps in both Google Play and the App Store. With the fact that Plus500 does not charge commission and has a competitive spread.
Thanks to the stock trading platform’s user-friendly interface, trading stocks as CFDs with Plus500 is comfortably. There are also some benefits to trading stocks as CFDs, such as not having to buy an entire stock, but rather a derivative based on the said stock, to trade a company.
Which is the Best CFD Stock Broker in Australia?
CMC Markets is a global trading service based in the UK but with customers and offices all around the globe.
A combination of great trading tools, tons of assets, and long experience in the industry make CMC Markets an excellent choice for most traders.
✔ Huge selection of assets
✔ Well-established broker
✔ Top-notch trading platform
✔ Complicated registration
✔ High spread on stocks
✔ Fees on many transactions
✔ Huge selection of assets
✔ Well-established broker
✔ Top-notch trading platform
✗ Complicated registration
✗ High spread on stocks
✗ Fees on many transactions
Fees: 0 commission on FX and CFDs
Demo Account: Yes
Min Deposit: Zero
Assets: 10,000+
License: CySEC, FCA, ASIC
Since CMC Markets is the best stock broker in Australia because of the combined CFD and DMA platform, it should not come as a surprise that CMC Markets is also the best CFD stock broker in Australia.
You can pick from thousands of stocks from all over the globe, analyse the assets using state of the art analytic tools, and open and close positions with top-tier execution. CMC Markets is everything you could ever wish for in an online stock broker.
Which is the Best Trading Platform for Day Trading in Australia?
✔ One of the biggest online brokers in North America
✔ Top-shelf trading software for all customers
✔ Long processing time for withdrawls
✔ High commission for small positions
✔ One of the biggest online brokers in North America
✔ Top-shelf trading software for all customers
✗ Long processing time for withdrawls
✗ High commission for small positions
Fees: Rather high fees
Demo account: Yes
Min deposit: $100
Assets: Huge selection
License: SEC, IIROC, FCA, ASIC
Interactive Brokers (IBRK) is another global online brokerage firm that allows Australians to trade a range of exciting instruments, including stocks. IBRK has also established themselves as the main platform for a number of professional day traders.
Thanks to sophisticated trading platforms with high-quality analytic abilities, the Interactive Brokers platform provides you with the tools needed to trade efficiently. Whether you have a solid action plan or need to build a new strategy, IBRK is an optimal solution.
Guide for Traders in Australia
The online trading industry in Australia is alive and thriving. There is a broad selection of brokers offering access to every market imaginable, nonetheless stock trading.
One thing to keep in mind is that online trading is strictly regulated in Australia. The Australian Securities and Investment Commission (ASIC) is tasked with issuing broker licenses and regulating the industry.
Therefore, you should only trade using brokers with an ASIC license. Any other brokers are to be avoided at all costs.
How to Choose the Best Stock Broker
If you’re on the market for a new online stock broker in Australia, we advise you to follow the tips listed below. That way, you’ll find a legitimate and licensed broker that offers the company stocks and analytic tools you need.
1. Safety first
Once again, your safety is very important, and by using one of the licensed brokers listed on this site, you will avoid all unnecessary risks associated with trading.
With that said, stock trading is always associated with the risk of losing money, so you still need to be careful and educate yourself on risk-management.
2. Decide what you are trading
The instruments and stocks that you’re planning on trading will affect your choice of broker. There are big differences in the selection of stocks that the best stock brokers in Australia offer.
Ideally, you want a broker with as many stocks as possible, such as IG Markets or CMC Markets. However, there are benefits to limiting your options and using a broker like Plus500 instead.
In our reviews, you can find more information about the markets that each broker operates on. You can also find a complete list of stocks on each of the brokers’ websites.
3. Set a budget
You also need to consider your budget. To activate a trading account, you have to make a minimum deposit of between $100 and $250. In other words, you will need a budget of at least the minimum deposit amount.
Obviously, you can trade with more money, as long as you stick to a budget that does not affect your finances. Never trade stocks using the money you cannot afford to lose.
4. Use demo accounts
When you find a broker that fits the description of your ideal stock broker, we suggest you try it out. By opening a demo account, you can trade on the broker’s platform using virtual money.
This is, by far, the best way to test a broker without risking any money. And in case you don’t like the broker, you can move on and try the next one.
5. Start trading
And that’s it. Now, all you have to do is register an account, verify your identity, make a first deposit, and start trading stocks.
FAQs
How do I trade U.S. stocks in Australia?
It’s rather easy to trade U.S stocks all over the world, thanks to North America’s role as an established, global financial leader. Therefore, all the best stock brokers in Australia offer access to U.S. stocks.
Also, since the NYSE and Nasdaq are two of the biggest stock exchanges in the world, with some of the most exciting companies listed, there is a huge demand for U.S. stock trading in Australia and elsewhere.
Can I use Robinhood in Australia?
No, unfortunately, the free stock trading app, Robinhood, is not available in Australia. For the time being, Robinhood is only available to U.S traders, and it looks like it will remain like that for a while.
Although it’s a bit of a loss for the Australian market, there are plenty of alternatives and fantastic stock brokers to use instead. Also, you can rest assured that we will update this guide with new recommendations as soon as Robinhood launches in Australia.
Is day trading illegal in Australia?
No, day trading is perfectly legal and regulated in Australia. As long as a broker is registered and licensed by the Australian Securities and Investment Commission (ASIC), they’re allowed to offer day trading services to Australian traders.
In addition, most of the brokers we’ve recommended are derivative brokers, which, in many ways, are better suited for day trading than long-term stock investments.
How do you trade stocks in Australia?
You pick one of the best stock brokers that we’ve listed on this page, register a trading account with the broker, make an initial deposit, and start trading. It’s really that simple, at least to get started.
Please keep in mind that all trading forms, including stock trading, are difficult and associated with risk. Therefore, we advise you to start studying the art of stock trading as soon as you can. That way, you will improve your chances of making a profit and becoming a successful stock trader.
Can you start day trading with $500 in Australia?
Yes, you can start trading in Australia with $500. All you need to start trading stocks is enough to cover your broker’s minimum deposit level.
Today, all of the best stock brokers in Australia have a deposit level that you have to fulfill to activate your account. These limits tend to span between $100 and $250, meaning $500 is more than enough to get started.
With that being said, you should always adjust your trading budget based on your financial situation. Never, ever trade using money that you cannot afford to lose – that’s the golden rule of risk management when trading and investing.
Can I buy Apple shares in Australia?
Yes, you can trade Apple shares in Australia. Since Apple is one of the world’s largest companies, the demand to buy Apple shares is huge. Luckily, all the best stock brokers in Australia, which we have reviewed, offer access to Apple shares.
In fact, every stock broker that we know of that’s worthy of a recommendation offers Apple shares. That we can guarantee.
Conclusion
To learn more about online trading in Australia, you can check out our other Australian trading guides. For example, we’ve listed all the best forex brokers, as well as the best trading apps in the country.
Note: Don’t hesitate to leave a comment below in case you have any questions regarding trading apps, safety, day trading, investments, financial systems, or anything else that might come to mind while spending time on our website. We promise to answer you as soon as possible.
Trading Platforms, Brokers & Apps That We Tested:
- Markets.com
- 24Option
- IQ Option
- BDSwiss
- HotForex
- Trade.com
- Libertex
- Plus500
- XTB
- InstaForex
- IG Markets
- GKFX
- LionsFX
- Valutrades
- XM
- IronFX
- Blackwellglobal
- FPMarkets
- AmanaCapital
- Admiralmarkets
- Alvexo
- Bizintra
- Pepperstone
- Windsorbrokers
- FXPro
- ForexTime
- HYCM
- FXGrow
- TeleTrade
- Trader.online
- Marketscube
- Finmaxbo
- FXCC
- Oanda
- Forex.com
- LCG
- CMC Markets
- FXCM
- iForex
- IFC Markets
- Aaatrade
Is Trading Allowed In My Country?
CFD Regulation Country by Country. The CFD trading services we are listing in this article are available in the following countries.
Europe:
- Albania
- Bosnia & Herzegovina
- Bulgaria
- Croatia
- Czech Republic
- Denmark
- Estonia
- Finland
- France
- Germany
- Greece
- Hungary
- Iceland
- Ireland
- Italy
- Kosovo
- Latvia
- Lithuania
- Macedonia
- Malta
- Moldova
- Montenegro
- Netherlands
- Norway
- Poland
- Portugal
- Romania
- Russia
- Serbia
- Slovenia
- Spain
- Sweden
- Switzerland
- Turkey
- Ukraine
- United Kingdom
Excluded: Belgium
North America
- Belize
- Canada
- Costa Rica
- Cuba
- Guatemala
- Honduras
- Jamaica
- Mexico
- Nicaragua
- Panama
- Puerto Rico
- The Bahamas
Excluded: United States
South America
- Argentina
- Bolivia
- Chile
- Colombia
- Dominican Republic
- Ecuador
- Guyana
- Paraguay
- Peru
- Suriname
- Uruguay
- Venezuela
Excluded: Brazil
Africa
- Algeria
- Angola
- Benin
- Botswana
- Burkina Faso
- Burundi
- Cameroon
- Central African Republic
- Chad
- Democratic Republic of Congo
- Egypt
- Eritrea
- Ethiopia
- Gabon
- Ghana
- Guinea
- Guinea-Bissau
- Kenya
- Lesotho
- Liberia
- Libya
- Madagascar
- Malawi
- Mali
- Mauritania
- Morocco
- Mozambique
- Namibia
- Niger
- Nigeria
- Republic of the Congo
- Rwanda
- Sierra Leone
- Somalia
- South Africa
- South Sudan
- Sudan
- Swaziland
- Tanzania
- The Ivory Coast
- Togo
- Tunisia
- Tunisia
- Uganda
- Western Sahara
- Zambia
- Zimbabwe
Middle East
- Georgia
- Armenia
- Azerbaijan
- Iran
- Iraq
- Syria
- Lebanon
- Cyprus
- Israel
- Jordan
- Saudi Arabia
- Kuwait
- Bahrain
- Qatar
- United Arab Emirates
- Oman
- Yemen
Asia
- Afghanistan
- Bangladesh
- Cambodia
- China
- China
- India
- Indonesia
- Japan
- Kazakstan
- Kirgizistan
- Laos
- Malaysia
- Mongolia
- Myanmar
- North Korea
- Pakistan
- Papua New Guinea
- Philippines
- Singapore
- South Korea
- Sri Lanka
- Thailand
- Turkmenistan
- Uzbekistan
- Vietnam
Excluded: Hong Kong
Oceania:
- Australia
- New Zealand
Our Author:
Adam Jarfjord is a Swedish day trader, investor, and copywriter. He works as head of content at BullMarketz.com and has been providing editorial content within the financial sector for more than 5 years.Read more about him by visiting his LinkedIn profile or contact us directly to learn more about the team.
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