Best trading platforms Australia
Best trading platform in Australia - IC Markets
IC Markets - is regulated by the Australian Securities and Investments Commission
Fusion Markets - offers commission-free trading on various financial instruments
eToro - best suited because of its user-friendly copy trading and social trading platforms
Questrade - offers trading services in stocks, ETFs, options, Forex, and mutual funds
TradeStation - licensed by The Financial Conduct Authority (FCA) of the United Kingdom
Trading in the Australian stock market has the potential to generate passive income, but it's essential to have a reliable and safe online trading platform. As a trader, you need to develop personalized trading strategies and execute trades with discipline while avoiding emotional reactions like fear and greed.
At Traders Union, we've analyzed and shortlisted the 12 best online trading platforms in Australia for 2025 based on criteria such as reliability, safety, low commissions, and the availability of trading instruments. Let's explore these top platforms and see which one is right for you.
IC Markets
IC Markets is regulated by the Australian Securities and Investments Commission (AFSL: 335692). The company is headquartered in Sydney, Australia, and provides services to clients in over 200 countries.
The broker offers low spreads starting from 0.0 pips on major currency pairs, with no fees or commissions charged on trades. The company also offers leverage up to 500:1 on Forex trading. IC Markets supports a range of trading platforms, including MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader. These platforms offer advanced charting and analysis tools and automated trading capabilities through Expert Advisors (EAs).
IC Markets offers 24/7 support through live chat, email, and phone. The company also offers educational resources such as trading guides, video tutorials, and webinars to help traders improve their skills and knowledge.
👍 Pros
•Provides favorable trading conditions.
•Offers a wide selection of over 2,100 trading assets.
•Low spreads starting from 0 pips.
•Fast order execution.
•Provides numerous analytical and training materials.
•Enables trading on the go with mobile devices.
•Offers additional resources such as spread monitoring, risk depth, and risk calculator.
•Provides Islamic account options.
👎 Cons
•Limited product selection available.
•No trading on weekends.
Fusion Markets
Regulated by the Australian Securities and Investments Commission (AFSL: 226199), Fusion Markets is an Australian online trading platform that offers commission-free trading on various financial instruments. With a typical EUR/USD spread of 0.0 pips, Fusion Markets offers some of the tightest spreads in the industry. The platform's average execution speed is 50ms, making it ideal for traders who require fast and efficient trade execution.
Fusion Markets supports trading on both the popular MetaTrader 4 and MetaTrader 5 trading platforms and the proprietary Fusion WebTrader. The platform also offers a mobile app for traders who prefer to trade on the go.
In terms of trading conditions, Fusion Markets offers a variety of account types, including a Standard Account and a Zero Account. The Zero Account has a $4.50 commission per side but offers tighter spreads and lower trading costs overall.
👍 Pros
•Low minimum deposit requirement of $1.
•Accessible trading platforms via desktop and mobile devices, including MetaTrader 4 and 5, and a web terminal.
•Supports passive investing through copying services.
•Low trading fees and no deposit fees.
•Multiple communication channels for customer support.
•Fast registration process and user-friendly trader's office.
👎 Cons
•Limited educational resources available.
•Product selection may be limited.
•No mention of investor protection, which could be a concern for some traders.
eToro
eToro AUS Capital Ltd ACN 612 791 803 AFSL 491139. OTC Derivatives are speculative and leveraged. Not suitable for all investors. Capital at risk. See PDS and TMD
eToro is regulated by the ASIC (AFSL: 491139) in Australia. Its office is located in Sydney, New South Wales, Australia. eToro is best suited for novice traders of Australia because of its user-friendly copy trading and social trading platforms. eToro has a huge library of educational content in the form of webinars, podcasts, videos, and ebooks. The minimum initial deposit amount of eToro in Australia is $200. After the initial deposit, the minimum deposit amount reduces to $50.
eToro does not charge any commission on trading stocks and ETFs. Its customer service is available 24X5 on email, chat, and telephone. It accepts the payment modes including credit/debit cards, wire transfer, PayPal, and Skrill. eToro charges a fee of $5 on each withdrawal.
Questrade
Investment Industry Regulatory Organization of Canada (IIROC) oversees the operations of Questrade. It offers trading services in stocks, ETFs, options, Forex, and mutual funds. Questrate promotes self-directed investing wherein it charges a minimum commission of 1 cent per share. The maximum commission on stocks can go up to $9.95 per trade. Questrade also offers a portfolio management service with a management fee starting from 0.25%. For options trading, Questrade charges a minimum of $4.95+$075 per contract. Whilst buying ETFs is free, the selling attracts a minimum fee of 1 cent per share. The spreads for Forex and CFDs would start from 0.8 pips.
Questrade offers several account types dedicated to different types of services. For example, traders who would like to use leverage can opt for margin accounts such as an individual margin account and a joint margin account. On the other hand, users who would like to save money for retirement can choose a registered retirement account.
TradeStation
TradeStation is licensed by The Financial Conduct Authority (FCA) of the United Kingdom. Though TradeStation does not have ASIC authorization, it allows Australian residents to trade in U.S stocks and ETFs. It charges $5 per trade for up to 10,000 shares. If the number of trades exceeds 10,000, it charges $0.005 per share on the number of shares above 10,000. TradeStation charges $5+$0.60 per contract on stock options, $1.5 per contract, per side on futures and futures options.
TradeStation facilitates trading through three of its platforms which include Web Platform, Mobile Platform, and Desktop Platform. It offers a broad range of educational content and simulated trading facility that help novice traders gain knowledge on trading and test strategies in real-time before risking the capital.
Stake
HelloStake Pty Ltd. (Stake) is a commission-free stockbroker in Australia. It is regulated by ASIC (487221). This stockbroker facilitates trading in over 6,000 U.S stocks and ETFs. The money with Stake is safe because it offers protection up to $500,000 ($250,000 cash) through Securities Investment Protection Corporation's (SIPC) insurance. Stake offers two types of accounts which include the Standard Account and the Black Account. However, the Black Account comes with a monthly maintenance fee of $9. Its Australian clients can avail of commission-free trades on both accounts.
It accepts deposits through credit and debit cards from customers in Australia and New Zealand. The withdrawals from Stake’s trading platform may attract a fee of up to $2. Its asset class is limited to Stocks and ETFs only; it does not facilitate trading in Forex, options, and futures.
Interactive Brokers Australia
Interactive Brokers Australia is regulated by the Australian Securities and Investments Commission (AFSL: 453554), with a registered office in Sydney, New South Wales, Australia. Interactive Brokers is best suited for professional and active traders. Interactive Brokers Australia charges a commission ranging from 0.015% to 0.08% on stocks and ETFs trading. For options trading, its charges range from AUD 0.70 to AUD 1.5 per contract.
Interactive Brokers Australia offers the lowest margin lending rates in the industry. It charges a margin lending rate of 1.5% on the amount lesser than AUD 140,000. The margin lending rate goes down to 0.5% if the amount is higher than AUD 14 million. This stockbroker facilitates trading through its trading proprietary platforms such as Client Portal, Trader Workstation, IBKR Mobile and IBKR API. Interactive Brokers is known for a broad range of assets and professional trading platforms.
Saxo Bank
Saxo Capital Markets (Australia) Limited is regulated by ASIC (AFSL: 280372). A subsidiary of Saxo Group, Saxo Markets connects investors and traders to stocks, options, Forex, Futures, and other asset classes from a single account. Saxo has proprietary trading platforms which include SaxoTraderGo and SaxoTraderPro. It also offers a demo account that lets traders test their trading strategies before implementing them in the real-time trading environment.
Saxo gives access to 19,000 stocks across 40 exchanges worldwide. It charges a minimum commission of AUD 5 per order on Australian stocks and USD 3 per order on U.S. stocks. Commissions start from $3 on the U.S listed ETFs and $0.85 per lot on Futures and commodities, and listed options. Saxo is best suited for experienced and active traders because it has over 50 technical indicators and drawing tools.
CMC Markets
CMC Markets is regulated by ASCI (AFSL: 238054) in Australia. CMC facilitates investing in 35,000 shares, mutual funds, ETFs of markets like the United States, The United Kingdom, Canada, and Japan with $0 commission.
CMC also facilitates investments in equities, warrants, and interest rate securities on the Australian Securities Exchange (ASX) by charging a minimum commission fee.
It charges $11 or 1.10% whichever is higher for less than 11 trades
For trades between 11 and 30, the amount commission reduces to $9.90 or 0.08% whichever is higher
For more than 30 trades, it charges a commission of $9.90 or 0.075% whichever is higher
CMC also gives access to 338 Forex products, 12 cryptocurrencies, and 117 commodities at competitive spreads and margin lending rates.
ThinkMarkets
Regulated by ASIC (AFSL: 337927), ThinkMarkets has a registered office in Melbourne, Australia. ThinkMarkets facilitate investing in over 3,100 ASX Shares and ETFs. The stockbroker also offers 10 free ASX promotional shares to people who open the trading account on its platform and link their bank account.
ThinkMarkets charges an $8 flat fee per trade on equities and ETFs if the trading value is less than $200,000. If the trade value is higher than $200,000, it charges a brokerage fee of 0.05% per trade. ThinkMarkets in Australia would facilitate trading in over 1600 CFDs from Forex indices, commodities, and Futures. It also offers a demo account worth $25,000 virtual funds. ThinkMarkets facilitate trading on MT4, MT5, and its proprietary platform, ThinkTrader.
Pepperstone
Pepperstone is regulated by the Australian Securities and Investments Commission (ASIC AFSL: 414530) and the Financial Conduct Authority (FCA) in the UK.
Pepperstone offers tight spreads and low commissions. The broker's standard account offers spreads starting from 1 pip, while the Razor account offers spreads starting from 0.0 pips with a commission of AUD 3.5 per 100,000 traded. In addition, Pepperstone offers flexible leverage options of up to 500:1.
Pepperstone supports MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader. These platforms are available for desktop, web, and mobile devices. Pepperstone also offers a range of useful trading tools and resources, such as a market analysis blog and an economic calendar.
👍 Pros
•Offers attractive trading conditions.
•Fast order execution with an average of 30 ms.
•Provides access to over 1200 trading instruments.
•Low fees for trading.
•No inactivity fee charged.
👎 Cons
•Customer support service is only available 24/5.
•Does not offer a cent account option.
•Limited opportunities for passive trading.
•Requires a minimum deposit of $200 to start trading.
•On the demo account, free trading is only available for one month.
Rules and Regulation
Australia's stock market has firmly established itself as one of the world's largest. With a total market capitalization well exceeding 2 trillion Australian dollars, the Australian market comfortably ranks within the top 10-15 globally.
Major Stock Exchanges
The Australian Securities Exchange (ASX) located in Sydney is the center of trading activity. Trading hours are from 10:00 AM to 4:00 PM AEST.
Market Overview
- The S&P/ASX 200 index tracks the 200 largest companies listed on the ASX, representing the leading sector contributors to the national economy.
- Daily trading volume averages over 5 billion Australian dollars, demonstrating significant liquidity.
- Financial, Materials, and Healthcare are heavily traded sectors reflective of key Australian industries.
- Companies listed on the ASX have a reputation for high dividend yields, attractive for income-oriented investors.
- Global mining corporation BHP Billiton is among the largest firms listed domestically.
- In 2020, the ASX pioneered post-trade blockchain settlement technology, the first major exchange to adopt this innovation.
- Australia's consistent regulatory environment and economic stability have reinforced investor confidence in the market.
Regulation
The Australian Securities and Investments Commission (ASIC) is in charge of ensuring transparent practices and investor protection.
Share Trading Platform Australia Comparison
Here is the comparison table between the 12 best trading platforms in Australia. This table uses variables such as minimum deposit, ASIC License, ASX Shares, and US Shares for comparison.
| Broker | Minimum Deposit | Regulated in Australia | ASX Shares | US Shares | |
|---|---|---|---|---|---|
$200 |
Yes (AFSL) |
Yes |
Yes |
|
|
$1 |
Yes (AFSL) |
Yes |
Yes |
|
|
$200 Initial Deposit and $50 minimum deposit |
Yes (AFSL) |
No |
Yes |
|
|
$1000 |
No |
Yes |
Yes |
|
|
$1000 |
No |
No |
Yes |
||
$50 |
Yes (AFSL) |
No |
Yes |
||
$0 |
Yes (AFSL) |
Yes |
Yes |
|
|
$0 |
Yes (AFSL) |
Yes |
Yes |
|
|
$0 |
Yes (AFSL) |
Yes |
Yes |
||
$0 for Standard Account; $500 for ThinkZero Account |
Yes (AFSL) |
Yes |
Yes |
|
|
$200 |
Yes (AFSL) |
Yes |
Yes |
|
How to Buy Stocks in Australia?
Here are several steps involved in the process of buying stocks in Australia:
Step-1: Choose a reliable stockbroker and register with it. You may need to have an email id and phone number to register with the stockbroker. The stockbroker may ask for additional documents to verify your identity before approving your application.
Step-2: We suggest you operate with the demo account before participating in real-time trading. The demo trading allows you to understand the trading/investing conditions and the features of the trading platform.
Step-3: You may need to link the bank account to the stockbroker and deposit the funds. Most brokers in Australia accept deposits via wire transfer, credit cards, debit cards, and PayPal.
Step-4: After depositing the funds, you may need to create the watchlist of desired stocks. We suggest you create a watchlist of at least 50 stocks that you can monitor regularly.
Step-5: Pick a stock from the watchlist, decide about the number of shares you want to buy, and make a purchase.
What Are the Best Day Trading Platforms in Australia?
IC Markets and Fusion Markets are two of the best day trading platforms in Australia due to their competitive trading conditions. Both brokers offer low spreads and high liquidity in Forex, which are optimal conditions for day traders who are looking to reduce costs. They also provide traders with a free VPS hosting service, which is essential for day traders who require fast and reliable access to their trading accounts.
Both IC Markets and Fusion Markets offer a range of advanced trading tools and resources to help traders make informed trading decisions and manage risk effectively. For example, they provide access to economic calendars, charting tools, and multiple order types. Furthermore, both brokers are regulated by reputable authorities.
What are the Best Trading Platforms for Beginners in Australia?
Investing in Australian markets can be intimidating for beginners, but luckily there are a variety of trading platforms tailored for them. eToro stands out as a top option for newcomers due to its user-friendly interface and CopyTrader feature, which allows users to copy the portfolio and behavior of experienced traders.
Not only does this provide an avenue to start learning quickly and efficiently, but it also makes diversifying investments easier. IC Markets is another great option. They not only provide excellent copy trading opportunities similar to eToro's but also offer PAMM accounts that make selecting and monitoring your assets easier.
What is the Cheapest Trading Platform in Australia?
eToro and IC Markets are two of the cheapest trading platforms in Australia. eToro is particularly cheap for US stocks trading, as it offers commission-free trading. Traders can buy and sell US stocks without incurring any trading fees or other charges.
On the other hand, IC Markets is known for offering some of the lowest trading fees in Forex. It charges a commission of $3.50 per side per lot for the MetaTrader 4 (MT4) platform and $3.0 per side per lot for the cTrader platform. In addition to the low commissions, IC Markets also has tight spreads on Forex trading, which can help to reduce trading costs further.
How to Choose a Trading Platform?
Choosing a trading platform is important for traders looking to enter the financial markets. Here's a step-by-step process for choosing a trading platform in Australia.
Check the platform's regulation in Australia by verifying its registration with ASIC. This is important to ensure the platform operates legally and follows industry standards.
Consider the range of trading instruments offered, such as stocks, Forex, indices, and commodities, to diversify your portfolio and minimize risks.
Check the fee structure and compare it with other platforms to find the most cost-effective option. Look for a transparent and competitive fee structure.
Evaluate the user-friendly tools and features of the platform, such as advanced charting tools, real-time market data, and an easy-to-use interface, to help you make informed trading decisions.
Read reviews from other traders and test the platform with a demo account to get an idea of their experience and to determine if the platform suits your trading needs.
Expert Opinion
When deciding to trade on the stock market in Australia, you should be guided by the same principles as in other countries. In the initial selection of brokers, it is advisable to focus on choosing those who have licenses not only from local regulators but also from global ones. If you plan to trade shares of local companies, pay attention to which shares are available for trading with those brokers, and whether all the companies you are interested in are listed. Narrow down the list of remaining candidates by choosing the most preferable option in terms of commissions, as well as deposit and withdrawal methods. Also, considering the time difference between Australia and other financial centers, having 24-hour support is an additional plus.
FAQs
Is eToro legal in Australia?
Yes, eToro is legal in Australia. eToro is a reputable online trading platform that operates in compliance with Australian regulations. You can use eToro to trade a variety of assets, including stocks, cryptocurrencies, and more, in Australia.
Is eToro legal in Australia?
Yes. eToro is a regulated trading platform in Australia and operates legally under the jurisdiction of the Australian Securities and Investments Commission (ASIC).
What is the most trusted trading platform in Australia?
IC Markets, eToro, and Interactive Brokers are among the most trusted trading platforms in Australia. However, the most trusted platform may vary depending on individual preferences and needs.
How can I start trading in Australia?
To begin trading in Australia, you typically need to follow these steps: choose a trading platform or broker. Afterward, complete the necessary paperwork, undergo identity verification, fund your trading account, and start executing trades.
Team that worked on the article
Andrey Mastykin is an experienced author, editor, and content strategist who has been with Traders Union since 2020. As an editor, he is meticulous about fact-checking and ensuring the accuracy of all information published on the Traders Union platform. Andrey focuses on educating readers about the potential rewards and risks involved in trading financial markets.
He firmly believes that passive investing is a more suitable strategy for most individuals. Andrey's conservative approach and focus on risk management resonate with many readers, making him a trusted source of financial information.
Also, Andrey is a member of the National Union of Journalists of Ukraine (membership card No. 4574, international certificate UKR4492).
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.
Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO).