The most important factor to consider when choosing the Best Investment Platforms in Australia is the fees charged for trades. Look for low brokerage fees, especially if you trade often or in large quantities. Other fees to watch out for include account maintenance, inactivity fees, and education fees. Also check whether the platform offers a wide range of investment options. Some platforms specialise in a certain area, such as Australian or US shares, while others offer global markets.
IG Markets offers one of the most comprehensive platforms for investors, with access to global assets and CFD trading. The firm has an established reputation for its powerful trading app and competitive fees, which makes it ideal for day traders. The firm charges a flat 0.08% fee on Australian shares, and a tiered system on international shares (from $5 per share).
Best Investment Platforms in Australia: Comprehensive Comparison
Selfwealth is another popular trading app with a straightforward fee structure. Its AU$9.5 brokerage fee on ASX shares and AUD$9.5 fee on US stocks makes it attractive for investors who want to minimize transaction costs. The app also offers a low-cost ETF service, allowing you to invest in diversified ETFs for a minimal fee.
moomoo is an easy-to-use investing app backed by an Australian bank. Its streamlined interface is aimed at beginner investors, and its fees are among the lowest in Australia. The firm charges a flat AU$3 brokerage fee on ASX shares, and a lower fee on US stocks. The platform also allows you to consolidate your financial life with a single investment account, and it provides reports that can help you track your portfolio performance for tax purposes.