The Best Stock Brokers in Australia

Trading platform in Australia for stock and sharesWe’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.

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
  • Cheapest Online Stock Broker in Australia: Plus500
  • Best Stock Broker for Beginners in Australia: eToro  
  • 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

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.

What we like

Huge selection of assets

Well-established broker

Top-notch trading platform

What we don't like

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

Features

Fees: 0 commission on FX and CFDs
Demo Account: Yes
Min Deposit: Zero
Assets: 10,000+
License: CySEC, FCA, ASIC

Ratings:
star-full star-full star-full star-full star-empty

Rating by our editorial team

5 users gave the score of 4.6/5
Total score:
star-full star-full star-full star-full star-empty

3,111 users gave the score of 4.05/5

Between 73-89% of retail investor accounts lose money when trading CFDs.

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

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.

What we like

Real stock trading of the exchanges

Huge selection of international stocks.

What we don't like

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.

Features

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

Ratings:
star-full star-full star-full star-full star-empty

Rating by our editorial team

9 users gave the score of 4.7/5
Total score:
star-full star-full star-full star-full star-empty

26,473 users gave the score of 4.1/5

Between 73-89% of retail investor accounts lose money when trading CFDs.

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 the Cheapest Online Stock Broker in Australia?

Plus500

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.

What we like

Easy to use mobile software

Competitive spread

Top rated in both app stores

What we don't like

Commission on stock trading

Limited monthly transactions

Only 2,200 assets on offer

Easy to use mobile software

Competitive spread

Top rated in both app stores

Commission on stock trading

Limited monthly transactions

Only 2,200 assets on offer

Features

Fees: 0% commission, except stocks.
Demo Account: Yes
Min Deposit: £100
Assets: 2,000+
License: FCA, CySEC, ASIC, FSCA, MAS

Ratings:
star-full star-full star-full star-full star-half

Rating by our editorial team

16 users gave the score of 4.4/5
Total score:
star-full star-full star-full star-full star-empty

96,505 users gave the score of 4.03/5

76,4% of retail CFD accounts lose money. Plus500 has been named the best CFD provider in the UK, Spain, and Germany by the Investment Trends 2019 Leverage Trading Report in the UK and Spain. In 2018, Plus500 was named the best CFD mobile platform by the Investment Trends 2018 Australia CFD report.

Plus500 is a low-fee, multi-asset CFD broker. Although it has quite a small selection of stocks, it is the highest-rated online stock trading app in both Google Play and the App Store. With the fact that Plus500 does not charge commission and has a competitive spread, this makes them a fairly cheap option on the Australian market.

Thanks to the stock trading platform’s user-friendly interface, trading stocks with Plus500 is both cheap and easy, regardless of your previous experience. There are also some benefits to trading stocks as CFDs as a beginner, 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 Stock Broker for Beginners in Australia? 

eToro

No online broker does copy trading like eToro.

You can choose to trade on your own or copy other traders, and the social trading network is the perfect place to share experiences and learn new skills from other traders from all over the world.

What we like

Copy trading for convenience.

Fantastic app that runs smoothly on Android and iOS.

What we don't like

Commission of CFD stocks.

High minimum deposit

Copy trading for convenience.

Fantastic app that runs smoothly on Android and iOS.

Commission of CFD stocks.

High minimum deposit

Features

Fees: 0% commission on stocks, although not on stock CFDs.
Demo Account: Yes
Min Deposit: £200
Assets: Hundreds of stocks.
Deposit Options: Credit/Debit Cards, Skrill, Neteller, PayPal, Wire, Rapid Transfer
License: FCA, CySEC, ASIC

Ratings:
star-full star-full star-full star-full star-full

Rating by our editorial team

14 users gave the score of 4.6/5
Total score:
star-full star-full star-full star-half star-empty

60,014 users gave the score of 3.7/5

75% 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.

eToro is the best stock broker for beginners in Australia, as well as the rest of the world (in the jurisdictions where eToro is licensed). And if you don’t believe us, then maybe the 13 million other active eToro customers will convince you.

Thanks to the innovative eToro social trading solution, beginners can start trading right off the bat with a copy trading platform without worrying too much about the analytic work. Instead, you can pick a successful trader, study his or her every move, and then automatically copy that person’s trades.

It’s a great way to get started as a stock trader, as well as a fun way to trade, as you gain more experience and better understand the strategies behind every trade that you copy.

Which is the Best CFD Stock Broker in Australia?

CMC Markets

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.

What we like

Huge selection of assets

Well-established broker

Top-notch trading platform

What we don't like

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

Features

Fees: 0 commission on FX and CFDs
Demo Account: Yes
Min Deposit: Zero
Assets: 10,000+
License: CySEC, FCA, ASIC

Ratings:
star-full star-full star-full star-full star-empty

Rating by our editorial team

5 users gave the score of 4.6/5
Total score:
star-full star-full star-full star-full star-empty

3,111 users gave the score of 4.05/5

Between 73-89% of retail investor accounts lose money when trading CFDs.

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?

Interactive Brokers
What we like

One of the biggest online brokers in North America

Top-shelf trading software for all customers

What we don't like

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

Features

Fees: Rather high fees
Demo account: Yes
Min deposit: $100
Assets: Huge selection
License: SEC, IIROC, FCA, ASIC

Ratings:
star-full star-full star-full star-full star-half

Rating by our editorial team

2 users gave the score of 5/5
star-full star-full star-full star-half star-empty

6,472 users gave the score of 3.65/5

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.

Best Stock Broker in Australia

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:

  • eToro
  • 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:

Our Author:

Our editorAdam 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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