1. eToro - Overall Best
eToro is the best stock trading investing platform in Australia and allows its users the opportunity to invest in multiple asset classes including over 2200 stocks on the ASX. The platform has amassed an impressive 30 million users across 60 countries and is regulated and licensed by the FCA, CySEC, AUSTRAC and ASIC.
It is widely regarded as one of the most secure exchanges in the world having never been subject to a cyber attack in its 15 years of operation. eToro stores its the entirety of its clients’ funds in secure tier 1 banks. In addition to that, all of its clients personal information is guarded under SSL encryption.
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Refer to the list below for a detailed summary of the features supported on eToro.
- Multiple Asset Classes: 6 different asset classes including stocks, ETFs, commodities, currencies, indices and cryptocurrencies.
- Zero Commissions: eToro offers zero broker fees when trading stocks (excluding short or leverage positions).
- Diverse Live Chat: 24/7 Live customer support available in 12 languages including English, Mandarin, Spanish, Italian, German and more.
- CopyTrading: A feature that allows eToro users the ability to mimic the trades of successful eToro users/investors for free.
- Cryptocurrency Staking: There are three cryptocurrency staking options available on eToro - Ethereum, Cardano & Tron.
- Paper Trading: A virtual trading account that allows users to replicate the same features and market conditions as a real trading account, without the risk of losing real money.
To learn more about this platform, we recommend visiting our comprehensive eToro Review.
Website: Visit eToro
moomoo
moomoo is a US based stock investing platform that offers services to Australians plus 18M+ investors worldwide. The platform offers a myriad of asset classes with over 11,000 US Stocks and ETFs, plus stocks from ASX. And it's one of the few trading apps to provide real-time Level 2 US-Market Data for free.
Not to mention, moomoo is currently running a promotion until the end of August where new Australian users get 180 days of brokerage-free trading. Meaning that you get 6 months where you can freely invest in stocks without needing to pay any fees. Additionally, new users get $10 for every $100 deposit (up to $50 in total can be paid out).
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Refer to the list below for a detailed summary of the features supported on moomoo.
- Free Paper-trading: For beginners who don't feel comfortable trading with real money can use moomoo's paper-trading with real-time data to simulate the investment experience before going all in.
- Free Smart Research Tools: moomoo's smart research tools include Stock Screener (100+ indicators), Stock Compare (similar to Apple's Compare Models), Institutional Tracking (know what Warren Buffett is buying) and many more to discover.
- Active moo community: There is an inbuilt investor's community in moomoo where 18M+ users worldwide discuss trades, share strategies and more.
- 24/7 Financial News: Besides 24/7 financial news from financial publishers like Dow Jones, Reuters, Bloomberg, and more (all for free), the moomoo editorial team also handpicks financial news each day.
- 24/7 Live Customer Support: moomoo offers users 24/7 live customer support through multiple channels including live chat, phone, email, Twitter, Instagram & Facebook.
- Extended Trading Hours: One feature that sets apart moomoo from its competitors is its fully extended trading hours for the US market, which is significantly longer than the industry average, 4AM - 8PM EST.
- Level 2 US-Market Data: Real-time US level 2 market data (with a refresh rate of 0.3s) that displays up to 60 levels of bids and asks.
To learn more about this platform, we recommend visiting our comprehensive moomoo Review.
Website: Visit moomoo
SelfWealth
SelfWealth is an online stock trading and investing platform that allows users to manage their own portfolios and trade shares. The platform provides users with access to real-time market data, news and analysis, as well as tools to help them make informed investment decisions. The company was founded in 2012 and is headquartered in Melbourne, Victoria.
The platform is a member of the Australian Securities Exchange (ASX) and is regulated by the Australian Securities and Investments Commission (ASIC). One of the reasons Aussie investors prefer to use this exchange is because it offers a flat $9.5 fee on all trades no matter the size.
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Refer to the list below for a detailed summary of the features supported on SelfWealth.
- Flat Brokerage Fee: Every trade made on SelfWealth is subject to one $9.5 fee no matter the size of the trade.
- Live Chat: The platform offers a Live Chat feature that is handled by Australian customer service consultants for 24 hours, 7 days a week.
- Copy Trading: A feature to allow SelfWealth clients to copy the trades of other successful users.
- Free Account for Children: SelfWealth now offers free accounts to children under the age of 18 who wish to learn about investing from a young age.
- Free access to Selfwealth Premium: For the first 90 days, all users will have access to the premium version of the platform for free.
To learn more about this platform, we recommend visiting our comprehensive SelfWealth Review.
Website: Visit SelfWealth
Interactive Brokers
Interactive Brokers Australia is a subsidiary of the US-based Interactive Brokers Group, Inc, which is one of the largest electronic brokers in the world. Interactive Brokers Australia offers a wide range of products and services for individual investors, professional traders and institutions.
This platform is best suited to experienced traders and investors and is not suitable for beginners or first-time investors as the UI can be very overwhelming. Interactive Brokers has been customised to service institutional clients and has a complex interface with an array of extensive trading tools.
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Refer to the list below for a detailed summary of the features supported on Interactive Brokers.
- Monthly Payment System: The platform offers a monthly fees system that offers a flat rate charged every month to cover the costs of brokerage, admin and ticketing fees.
- Strong Educational Resources: An extensive educational blog, FAQs, webinar and courses are available on Interactive Brokers to help users understand trading techniques, tools etc.
- Stock Yield Enhancement Program: This features allows users to earn extra income on the fully-paid shares of stock held in their accounts.
- Multiple Assets: Its suite of products includes stocks, options, futures, forex and fixed income.
Website: Visit Interactive Brokers
What is a Stock Trading platform?
A stock trading and investing platform is a software application that enables investors to trade stocks and other securities online. A typical platform will allow users to open and manage their accounts, place orders, view real-time market data, and track their portfolios. Many platforms also offer research tools, news feeds, and other resources to help investors make informed decisions.
Choosing the right stock trading and investing platform is essential to success in the markets. There are a number of factors to consider when selecting a platform, including fees, account minimums, ease of use, customer service, and the range of features offered. It's important to compare different platforms before making a decision to ensure that you're getting the best possible value for your needs.
Best Stock Platforms in Australia Compared
Refer to the side-by-side comparison table below for a high-level overview of the three best stock platforms In Australia and what features, assets and support they offer.
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How is Stock Trading Taxed?
In Australia, capital gains tax (CGT) is generally payable on the sale of shares or other taxable capital assets. However, there are certain exemptions and discounts that may apply to reduce the amount of tax you need to pay.
If you hold a stock for less than 12 months, any capital gain you make on the sale of the stock will be treated as a short-term capital gain and will be included in your taxable income for the year in which you sold the stock. Short-term capital gains are taxed at your marginal tax rate, which is the tax rate that applies to the highest bracket of your taxable income.
It's a good idea to seek advice from a tax professional or refer to the Australian Taxation Office (ATO) website for more information on the tax treatment of different types of investments in Australia.
Final Thoughts
eToro is a powerful and reliable stock trading platform that offers extensive features, tools and resources to help investors succeed in the markets. With low fees, a wide range of assets and excellent customer service, it's one of the best platforms available in Australia. The platform also provides access to world-class research tools and educational resources to help users understand trading techniques, tools and strategies.
Before making any decision about which stock trading platform to use, it's important to compare the features and fees of different platforms to make sure you're getting the best value for your needs. Additionally, be sure to familiarize yourself with taxation rules before investing so that you understand how your profits will be taxed.
