When choosing a stock trading app, beginners need to pay special attention to whether the platform of their choice is suitable for learning. Besides that, there are several other deciding factors that can help you start your trading career.
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Continue reading to find out our choice for the best stock trading app for beginners in Australia and compare the advantages and disadvantages of our top ten trading platforms.
Top Ten Best Stock Trading Apps for Beginners in Australia
Stock Trading Apps for Beginners: Mini-Reviews
Let’s go over the top ten trading platforms available in Australia and compare their stronger and weaker points. Starting with eToro, an app most suitable for newbies, we will cover each platform’s minimum investment, security, availability of copy trading, access to learning tools and socially responsible stocks, and finally, fees.
- eToro – Best Stock Trading App for Beginners
- Plus500 – Best Feature-Packed Stock Trading App
- IG – Best for International Trading
- CMC Markets – Best Advanced Research Tools
- Capital.com – Best Price
- ANZ – Best High-End
- SelfWealth – Best for Security
- Stake – Best for Self-Managed Super Fund
- CommSec Pocket – Most Affordable for Long-Term Investment
- OpenTrader – Best Mid-Range Trading App
Disclaimer: Always take into account your own individual circumstances before making any investment decisions, and don’t rely on the information presented here alone. We highly suggest that you consult with an expert before applying for any product or service mentioned on our site.
1. eToro – Best Stock Trading App for Beginners
eToro is our pick for the best stock trading platform in Australia for beginners due to its user-friendly education section, which includes the eToro academy, the eToro plus daily, weekly, and quarterly market summaries, and expert advice through The Bull Club podcast. To add to that, there are over 2,000 financial assets available, starting from stocks to cryptocurrencies, ETFs, indices, currencies, and commodities.
- Rating: 5/5
- Minimum investment: $50
- Security: FCA, CySEC, and ASIC- certified; SSL encryption
- Copy trading: Available
- Access to advanced learning tools: 5/5
- Access to socially responsible stocks: 5/5
- Fees: Conversion Fee, Spread, Overnight Fee, Withdrawal Fee ($5), Inactivity Fee
The platform and mobile app are extremely easy to navigate and are not overly complex for a beginner. While the trading process takes place, eToro applies the zero-commission policy; however, there’s a $5 withdrawal fee and a monthly $10 charge in case of inactivity for over a year.
eToro’s Recurring Deposit feature allows customisable payments, which means that you can choose the deposit amount, frequency, currency, and the deposit day. So, you will be able to schedule automatic payments from your credit card to your eToro account to your own liking.
2. Plus500 – Best for Simple Account Set-Up
Plus500 makes the process of opening an account easier than ever. You will be required to do identity verification, but other than that, your account will be set up in no time. That said, beginners will have no problem joining this stock trading app in Australia.
PROS:
- Free stock trading
- User-friendly app and platform
- Variety of financial assets
CONS:
- Customer service needs improvement
Read our full review on the social trading platform eToro.
- Rating: 4.9/5
- Minimum investment: Not required
- Security: Authorised and regulated by Financial Conduct Authority
- Copy trading: Available
- Access to advanced learning tools: 5/5
- Access to socially responsible stocks: 3/5
- Fees: Overnight Funding, Currency Conversion Fee, Inactivity Fee
Besides shares, Plus500 also offers trading with indices, forex, commodities, crypto, options, and EFTs. No commission will be charged while trading as Plus500 makes a profit specifically through the market spread. However, keep in mind that you might have to pay some additional fees like overnight funding, currency conversion fee, or inactivity fee.
Their website offers a number of research tools, charting graphs, and educational materials to help investors hone their trading skills. In addition, the fact that it’s regulated by the FCA vouches for its security.
By checking all of our boxes, Plus500 is also one of the best trading options platforms in Australia.
3. IG – Best for International Trading
The well-established trading platform IG has been serving clients since 1974. It has one of the largest market ranges, with over 17,000 markets on which you can trade worldwide. This makes it the best stock trading platform in Australia when it comes to international trading.
24/7 available customer service
Good research tools
Easy account set-up
No customisable payments
Rating: 4.5/5
Minimum investment: $450 by credit/debit card, $10 by BPAY
Security: Regulated by the Japanese Financial Services Agency (JFSA) for Securities and Currencies, the Ministry of Economy, Trade and Industry (METI) for Hard Commodities, and the Ministry of Agriculture, Forestry and Fisheries (MAFF) for Soft Commodities
Copy trading: Available
Access to advanced learning tools: 4/5
Access to socially responsible stocks: 5/5
Fees: Live Price Data Feeds, ProReal Time Charts, Inactivity Fee, Account Documentation Fee, Currency Conversion Charge
IG doesn’t charge any fees for withdrawing or funding; however, the fees for Forex and stock CFDs are high. IG allows its investors to trade in indices, forex (being one of the best Forex brokers in Australia), shares, commodities, and cryptocurrencies.
IG has attracted more than 300,000 clients worldwide, including a fair share of newbies, thanks to trade analytics tools, seminars and webinars, and a glossary of trading terms. They also provide excellent customer service through email or phone.
4. CMC Markets – Best Advanced Research Tools
CMC Markets offers one-of-a-kind research tools like no other app. The 12 chart types, 35 drawing tools, and 80+ overlaps/indicators make it the best trading app in Australia when it comes to its immaculate research tools.
Wide trade market
Great educational tools
Multiple platforms
Expensive
Rating: 4.5/5
Minimum investment: $500
Security: Regulated by ASIC, IIROC, MAS, FMA, FCA
Copy trading: Available
Access to advanced learning tools: 5/5
Access to socially responsible stocks: 5/5
Fees: Brokerage Fee of $29.95 or 0.11% on mFund Transactions
On CMC Markets, you can trade Forex, indices, cryptocurrencies, commodities, shares, share baskets, and treasuries. Besides the Next Generation and MetaTrader 4 trading platforms, they have mobile trading apps on iPhone, iPad, and Android.
This stock trading app charges a brokerage fee of $29.95 or 0.11% on mFund transactions, while some additional fees for specialised services include a telegraphic transfer ($35), and a check drawing fee ($13.20), and a dishonoured cheque ($30).
Novice traders will appreciate the platform’s guides, trading library, webinars, and events. Additionally, the News section gives an in-depth market analysis by market analysts Michael Hewson, Tina Teng, and Kelvin Wong.
The platform also offers excellent CFD trading tools, client sentiment analysis, module linking and a pattern recognition scanner with price projection, making it one of the best CFD trading platforms in Australia.
5. Capital.com – Best Price
Capital.com is one of the few stock trading apps that don’t charge for most of their services. Additionally, they cover all the fees and costs associated with deposits and withdrawals. Aside from covering the spread charges, the only thing that you will have to pay is an overnight fee based only on the leverage provided rather than the entire value of your position for Cryptocurrencies, Shares, and Thematic Investments.
Advanced research tools
Easy to-use platform and app
Well-stocked learning section
High stock CFD fees
Rating: 4.5/5
Minimum investment: $20 for all payment methods; $250 for a wire transfer
Security: Regulated by the Australian Securities and Investments Commission (ASIC)
Copy trading: Available
Access to advanced learning tools: 3/5
Access to socially responsible stocks: 4/5
Fees: Spread Fee, Overnight Fee
On their mobile apps and web platforms such as Trading View and MetaTrader 4, you can trade with indices, forex, commodities, cryptocurrencies, and shares. You can be assured that the trading is done in a safe way because Capital.com is fully compliant with PCI Data Security Standards.
The basics of trading can be learned through their glossary, courses, and popular market guides. Moreover, you can get market updates from webinars, economic calendars, and Capitcal.com TV. All of these features for a low price contribute to its title as the best app for stock trading in Australia if you’re looking for affordable options.
6. ANZ – Best High-End Trading Platform
ANZ trading app gives you access to more than 2,000 stocks and nearly 20 different markets to trade on. Two types of funds offered are ETFs and mFunds, the latter being only available to ANZ clients.
Affordable
Excellent customer service
Easy to open an account
Only CFD, real stock, and spread betting (for UK clients) available
Rating: 4.4/5
Minimum investment: $500
Security: US PATRIOT Act Certification, ANZ Sanctions Policy Summary, Anti-Money Laundering and Counter-Terrorism Financing Policy Summary, Anti-Bribery and Anti-Corruption Policy
Copy trading: Not available
Access to advanced learning tools: 1/5
Access to socially responsible stocks: 1/5
Fees: Standard General Fee of $19.95 per quarter; Brokerage and Trading Fees
ANZ gives you the option to choose between Standard and Pro trading platforms. On the Standard platform, you can indulge in tax reporting packages, sector analysis, stock screener, and advanced charting. The Pro platform will cost you $49.95 per month; however, it comes with multi-monitor display capability, Morningstar’s quantitative research, and real-time or dynamic market data.
That said, the Standard account is free only if you complete up to five trades per month. Additionally, trading Australian shares or ETFs costs between $19.95 and $29.95 for your first trade of each month (depending on the size of the trade) and $19.95 for each trade after that.
7. SelfWealth – Best for Security
Unlike other trading platforms, SelfWealth allows you to own and hold the shares you buy from them, due to CHESS Sponsored Share Holdings. Their security transcends other platforms with their two-factor authentication and active account security monitoring, allowing you to fully control your investments. Considering this, it is hard not to rate it as the best share trading app for security in Australia.
20 international markets
Regulated by ASIC
Professionally managed mFunds
Not affordable
Rating: 4.3/5
Minimum investment: $500
Security: ASIC, CHESS sponsorship, licenced under the Corporations Act
Copy trading: Available
Access to advanced learning tools: 2/5
Access to socially responsible stocks: 5/5
Fees: Brokerage Fee of $9.50; Off Market Transfer Fee of $27.50
SelfWealth charges $9.50 per trade regardless of trade size. Other than that, there are no account fees or other commissions. SelfWealth provides numerous research tools and features like SafetyRating and WealthCheck that diagnose your portfolio.
Additionally, you can get exclusive insights from Refinitiv, a global data provider. On top of that, SelfWealth offers videos explaining investments and articles featuring news about the latest market changes.
8. Stake – Best Self-Managed Super Fund
With Stake, after you complete the 5-minute application, you will be able to invest in 2,000+ ASX-listed stocks and ETFs for an annual fee of US$90.
Good security
Low fees unless you choose a premium account
Live chat
Limited to trading in Australia, Hong Kong, and the US
Rating: 4.3/5
Minimum investment: $500
Security: Privacy policy in accordance with GDPR
Copy trading: Available
Access to advanced learning tools: 3/5
Access to socially responsible stocks: 5/5
Fees: Trading Fee of $3; Instant Funding – Transfers Fees of 0.5%; Debit Card Funding of 0.5%; Credit Card Funding of 2.5%
Super Plus makes you eligible to trade cryptocurrencies, startup ventures, capital funds, property, and precious metals. In addition, the fast digital portfolio transfers ensure the no-paperwork policy. Furthermore, this stock trading app based in Australia is CHESS sponsored, which means that you will be in control of your shares.
In the Blog section, you have access to the Stake updates that will inform you about the market’s current state and the latest news. Finally, their Stake Academy answers most common beginners’ questions about crypto, and additional knowledge about the essentials of trading and investing, and shares.
9. CommSec Pocket – Most Affordable for Long-Term Investment
On the CommSec Pocket platform, you can build your portfolio starting with a minimum $50 investment and choose from the 7 investment options, including tech companies, sustainability leaders, or the biggest 200 companies in the Aussie market.
Low trading fees
Fast account opening
User-friendly platform
Limited educational tools
Read our full review on the Australian-based trading platform Stake.
- Rating: 4/5
- Minimum investment: $50
- Security: CHESS Sponsorship
- Copy trading: Available
- Access to advanced learning tools: 4/5
- Access to socially responsible stocks: 5/5
- Fees: Fee of $2 for trades up to $1,000; Fee of 0.20% of the trade value for trades over $1,000
Micro Investments are an excellent entry point into the world of stock trading when starting out as a newbie investor in Australia. When it comes to the best micro-investing apps in Australia for ETF trading CommSec Pocket is among the best and it offers easy access to seven diverse ETFs. It is very cost-effective as you pay only $2 for trades up to $1,000. Additionally, the Exchange Traded Fund can diversify your portfolio and give you an opportunity to provide regular income.
Finally, you can gain market insight and boost your knowledge with their webinars and news to get you started in the trading world, as their team interviews leaders from the ASX market to help you discover more opportunities.
10. OpenTrader – Best Mid-Range Trading App
This Sydney-based trading platform specialises in shares, ETFs, and options trading. It also offers a wide range of tools like custom dashboards, advanced charting, live portfolio valuation, stock screener, and many more.
Affordable for starting
Low, fixed transaction fee
Zero account keeping fees
Limited number of investment options (7)
Rating: 4/5
Minimum investment: $500
Security: In accordance with the Privacy Act 1988 and the Australian Privacy Principles
Copy trading: Available
Access to advanced learning tools: 4/5
Access to socially responsible stocks: 3/5
Fees: Brokerage Fee of $10 for a transaction value of $0.01-$10,000; Trade Fee of 0.10% for transaction value over $10,000
OpenTrader allows you to trade equities, Exchange Traded Funds, warrants, Exchange Traded Bond Units (XTBs), Exchange-traded options (ETOs), ASX, CHI-X, and NSX stock exchanges.
Additionally, OpenTrader has a Pro Tools account which costs $99 per month and is suitable for professional traders as it comes with live streaming data. However, if you’re a casual trader, the investor platform would be a better choice for you.
Guide on How To Choose a Trading App
To help you choose the best trading app based on your experience, goals, and resources, we have prepared a list of things that you should keep in mind before signing up to a trading platform. Let’s have a look.
Low Prices
Good investment options
Advanced research tools
Trading advice not available
Platform Accessibility
Your preferred trading app should have a user-friendly interface that you can operate easily. Look out for platforms that hide basic information like withdrawal fees, which should be transparently disclosed. If a trading app hides any type of important details, that’s a clear sign of malicious intentions. In addition, setting up the account should be a straightforward process that takes no more than 5 minutes.
Regulation and Safety
If you don’t want your data leaked and your money lost, look for the trading platform’s regulations. A reliable stock trading app in Australia has a list of the organisations that authorise and regulate their work. Other security measures that you should look for are two-factor authentication, data encryption, firewalls, and two separate synced servers.
Assets
Another important factor is the variety of assets available on the trading app. There’s a high chance that you will want to trade some other assets like ETFs, commodities, and investment trusts. So, make sure that the trading platform offers different types of assets in case you change your mind down the line.
Trading Platform Fees
While most trading platforms have a monthly or annual fee, their prices can differ greatly. Some have fixed fees as small as $3, and some will charge you based on the size of your portfolio. The minimum deposit is susceptible to variations as well, so depending on your budget, you can choose apps with no minimum deposit or the ones with a $500 minimum investment.
Investment Fees
Paying some sort of conversion fee is standard practice for most trading apps. Although the sum might not look so bad at first, you will still be losing resources on every trade. Additionally, look out for the commission fees when utilising any brokerage services.
Customer Service
When choosing a trading app, customer service might not be a deciding factor, as you may think that you won’t need any help. But as a beginner, you will have numerous questions and not having access to a responsive 24/7 customer service will be a huge disadvantage.
Bottom Line
When choosing a stock trading app for beginners, several factors play a key role. Those factors include a low minimum investment amount required, accessibility of learning materials and tools, and excellent customer support. If a stock trading app has these requirements, it is suitable for beginners, as it poses a lower risk and can be a great way of learning about stock trading.
1. Which stock trading site is the best for beginners in Australia?
eToro might just be the best stock trading app for beginners, as it requires a low minimum investment sum of only $50. Additionally, they follow a zero-commission policy which is perfect for inexperienced traders.
2. What is the best stock market app in Australia?
The best way to find a suitable stock market app for you is by signing up for the demo account, if available. In that way, you will be able to make simulated trades and see whether the app meets your standards.
3. How do Australians trade stocks (for beginners)?
Aussies use different trading apps for diving into stock trading. If you’re curious about which apps made it on our list, scroll up and read our “Best Stock Trading App for Beginners in Australia” choices.
