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Best Trading Platforms in Australia April 2024

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Meet Thadeus, a trading guru, brilliant writer, and financial fanatic with years of expertise in the industry. Get ready to learn from his wealth of knowledge.

Article was updated: April 17, 2024
Estimated reading time: 14 minutes

Choosing the right trading platform in Australia involves more than fee structures and regulations. You must consider its suitability for your goals, trading style, and risk tolerance. For instance, does the platform cater to novice, intermediate, or seasoned traders? What asset variety does it offer, and how is its support service responsiveness? 

As professional researchers and traders, we simplify the lengthy and overwhelming research process by recommending the best trading platforms Australia. Our guide also answers the above questions, providing comprehensive insights to empower your decision-making process and kickstart your trading journey with confidence.

Essence

  • Online trading is skyrocketing in Australia, with more individuals participating in various markets due to increased accessibility and interest in investment opportunities.
  • Trading in Australia, especially with leverage, is all about taking risks. Therefore, always conduct extensive research for solid strategies that maximise your potential. 
  • Beginner traders in Australia should kickstart their activities using a platform’s demo account before committing real money.
  • The best trading platform Australia must be licensed and regulated by the Australian Securities and Investment Commission (ASIC) to ensure maximum safety.
  • Traders in Australia should settle for trading platforms with features that meet their requirements for a worthwhile experience. 
  • At TradingGuide, we conduct multiple tests and comparisons before recommending trading platforms for Australians.

List of the Best Trading Platforms in Australia

  • Plus500 Best CFD Trading Platform in Australia
  • eToro Beginner-Friendly Trading Platform in Australia
  • AvaTrade Overall Best Trading Platform in Australia
  • Pepperstone Top Platform For Trading With Excellent Support Service
  • OANDABest Forex Trading Platform in Australia
  • FP Markets Best Stock Trading Platform in Australia
  • CMC Markets Cheapest Trading Platform in Australia
  • Saxo Best Trading Platform For Professional Traders

Compare the Best Australian Trading Platforms

While comparing trading platforms in Australia, we analyse their features, including fees, licences, demo accounts, and more. Here is a table showing additional features that will aid in your quest to find the best trading platform. 

Best Trading PlatformsLicenceSupport ServiceSoftwarePaymentDemo Account
Plus500FCA, CySEC, ASIC, FSCA, MAS, FSA24/7Plus500 WebtraderBank Wire Transfer, Credit/debit cards, Paypal, SkrillYes
eToroASIC, CySec, FSCA, FCA, FSAS24/5eToro investing platform, Multi-asset platform, Copy TraderCredit or debit card, PayPal, Bank transfer, Neteller, Skrill, eToro Money, Online BankingYes
AvaTradeFCA, CySEC, ASIC, CIRO, FSCA24/5MT4, MT5, AvaSocial, DupliTrade, AvaOptions, AvaTradeGOBank transfers, e-wallets, debit/credit cardsYes
PepperstoneFCA, SEBI, ASIC, DFSA24/7MetaTrader 4, MetaTrader 5, cTrader, TradingView, Capitalise.ai, Social TradingCredit cards, Bank transfer, PayPal, Neteller, Skrill, Union PayYes
OANDAFCA, CFTC, CIRO24/5MT4, TradingViewDebit/credit cards, e-wallets, bank transfersYes
FP MarketsCySec, ASIC, FCA, SEBI24/7MT4, MT5, cTrader, Iress, Credit and Debit cards, Bank transfer, PayPal, Neteller, Skrill, PayTrust FasaPayYes
CMC MarketsBaFin, FCA, CIRO24/5MetaTrader 4, NextGeneration, Mobile Trading AppsCredit/debit cards, Paypal, Bank Wire TransferYes
SaxoFSA, CIRO24/5SaxoTraderGO, SaxoTraderPROBank Wire Transfer, Debit cards
Yes

If you have been trading in Australia, you probably know that choosing a broker licensed and regulated by the Australian Securities and Investment Commission (ASIC) is crucial. However, did you also know that you must consider other elements, such as available assets and fees applicable? Worry not, for our tables below shed light on the assets and fees to expect with our recommended Australian platforms for trading. Our goal is to ensure you make the best decisions and kickstart your trading activities on a good note. 

Fees

Best Trading PlatformsFeesMinimum Deposit RequirementTransactionInactivity
Plus500From 0.0 pipsA$100FreeA$10 monthly
eToroFrom 2 pipsA$50A$5 withdrawalA$10 monthly
AvaTradeFrom 0.8 pipsA$300FreeA$50
PepperstoneFrom 0.0 pipsA$500FreeNone
OANDAFrom 0.3 pointsA$0FreeA$10 monthly
FP MarketsFrom 0.0 pipsA$100FreeNone
CMC MarketsFrom 0.0 pipsA$0FreeA$15 monthly
SaxoFrom $0.01A$0FreeA$100 

Assets

Best Trading PlatformsForexStocksCommoditiesCryptocurrenciesETFsOptions
Plus500YesYesYesYesYesYes
eToroYesYesYesYesYesNo
AvaTradeYesYesYesYesYesYes
PepperstoneYesYesYesYesYesYes
OANDAYesNoYesNoNoNo
FP MarketsYesYesYesYesYesNo
CMC MarketsYesYesYesNoYesNo
SaxoYesYesYesYesYesYes

Our Opinion & Overview of the Best Trading Platforms in Australia

Before making any recommendations, we test and compare as many trading platforms Australia as we could. Only the platforms that meet our specifications qualify to be on our list. Below, we share our opinion and overview of the Australian trading platforms we like. Our hope is that you will be able to understand each broker’s strengths and weaknesses and make the best choice. 

1. Plus500 – Best CFD Trading Platform in Australia

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We consider Plus500 the best CFD trading platform in Australia primarily due to its 2,000 CFD instruments, spanning forex, shares, commodities, indices, and more. Despite not hosting additional trading platforms, the platform provides a seamless trading experience tailored to Australian CFD traders’ needs. Moreover, users will enjoy low spreads from 0.0 pips and a minimum deposit requirement of $100, which is affordable for traders of all levels.

The best element about trading CFDs with Pepperstone is the ability to enjoy a leverage limit of up to 1:500. However, while high leverage can maximise your profits, understand that it can leave you with massive losses. Therefore, always be confident in your strategies before applying leverage./ And if you are a beginner, we advise you to start your trading venture via Plus500’s demo account to avoid risking real money. With 24/7 support service, free transactions, and more, Plus500 deserves a 4.5-star rating.

Plus500 Review
TradingGuides Rating:
✔ Educational materials
✔ Regulated in many countries
Pros & Cons
Fees
Trading Assets
Pros
  • Reliable trading platform hosting excellent trading tools
  • No commission charges but spreads, which are low in the Australian market
  • Reliable and responsive 24/7 after-sale service, ie. for registered customers
  • Quality learning and research tools
Cons
  • Inactivity fees apply
  • No buying and taking full ownership of the featured assets

Type Fee
Overnight Funding yes
Currency Conversion Fee 0.7%
Guaranteed Stop Order spread applies
Inactivity Fee $10 per month
Withdrawls/Deposits  $0

Plus500 provides access to 2800+ CFDs across a wide range of different asset classes, including: Indices – Country and Sector, Forex, Commodities, Individual shares, ETFs, Options

Note: 81% 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.

2. eToro – Beginner-Friendly Trading Platform in Australia

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eToro stands out as the best trading platform Australia for beginners for various reasons. While testing it, we enjoyed its user-friendly platform that is fully customisable. eToro also hosts a $100,000 virtually funded demo account that newbies can get started on risk free. On top of that, you will enjoy plenty of learning materials, from articles and guides to webinars and seminars. All these are available with a minimum deposit of $50 for Australians.

This trading platform lists over 4,000 trading assets, including stocks, forex, indices, commodities, ETFs, and more. Although we noticed that its trading charges can be a bit higher compared to its peers, eToro has quality market analysis tools for all types of traders. You will also enjoy a social trading platform that allows you to connect, interact, and copy potentially profitable opportunities from expert traders. Comparing eToro with other trading platforms in Australia, it deserves a 5-star rating. 

eToro Review
TradingGuides Rating:
✔Copy/Social trading
✔Low minimum to fund an account and begin investing
Pros & Cons
Fees
Trading Assets
Pros
  • User-friendly investment platform
  • Hosts millions of investors and is highly regulated globally, including in Australia by ASIC
  • Leading copy and social trading platform
  • Low minimum deposit requirement for Australians
Cons
  • Withdrawal charges apply
  • The minimum deposit required to access the social and copy trading platforms can be high for low budget traders

Types Fee
Minimum Deposit £50
Conversion Fee depends on your payment method, currency, and eToro Club level.
Overnight Fee vary according to the value and direction (BUY or SELL) of your position
Withdrawal Fee all withdrawal requests are subject to a $5 USD fee
Inactivity Fee monthly inactivity fee of $10 USD (charged after 12 months)

  • Stocks – there is a total of 800 stocks offered ranging from the biggest tech businesses in the U.S. to smaller companies from all over the world. Stock trading is always commission-free with eToro.
  • Cryptocurrencies – being one of the first brokers to jump on the cryptocurrency bandwagon, it comes as no surprise that eToro dominates this segment. With more than 20 coins and a number of cryptocurrency pairs, there is enough for all crypto traders.
  • Currency Pairs – in the early days, eToro was just another FX broker and even though they’ve developed since, the broker has stayed true to its roots. As a trader, you can choose between 49 currency pairs ranging from majors and minors to a few exotic ones.
  • Long-Term Investments – unlike many online brokers, eToro is also suitable for long-term investments. For example, their investment portfolios are a great way to diversify your portfolio and limit risk.
  • Additional assets – in addition to the above, eToro provides access to commodities, indices, and ETFs as CFDs. There is also a range of unique assets such as Crypto Portfolios that are only offered by eToro. This means that you can create a diverse portfolio with ease.

3. AvaTrade – Overall Best Trading Platform in Australia

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After thorough testing and comparison, we, as TradingGuide experts, confidently declare AvaTrade as the overall best online trading platform Australia. Our experience revealed several key factors that set AvaTrade apart from its competitors. Firstly, AvaTrade’s multi-jurisdictional regulation, including oversight from ASIC, ensures a safe and secure trading environment for Australian traders.

We also noticed that AvaTrade has a user-friendly platform and lists over 1,250 CFD instruments available, including indices, shares, commodities, and more. Additionally, the platform has a low minimum deposit of $100, and its AvaTradeGO app is highly praised by Australian CFD traders on Google Play and the App Store. While trading, we enjoyed exploring various platforms, including MT4, MT5, AvaSocial, DupliTrade and ZuluTrade. These features and more really impressed us, leading us to award it a 5-star rating. 

AvaTrade Review
TradingGuides Rating:
✔ One of the most popular brokers in the UK/EU
✔ Quick deposits and withdrawals
Pros & Cons
Fees
Trading Assets
Pros
  • Low minimum deposit requirement
  • Regulated by the Australian Securities and Investment Commission (ASIC)
  • Advanced trading platforms for advanced Australian CFD traders
  • Features social and copy trading
Cons
  • High inactivity fee that kicks in after only three months
  • Features only CFD assets

Type Fee
Minimum Deposit £100
Inactivity Fee USD Account: $50
EUR Account: €50
GBP Account: £50
Administration Fee USD Account: $100
EUR Account: €100
GBP Account: £100
Deposit Fee $0
Withdrawal Fee $0

AvaTrade impresses with a robust portfolio of over 1250 assets, encompassing a wide range of trading instruments.

Forex – AvaTrade facilitates trading in a broad spectrum of currency pairs, enabling exposure to the dynamic forex market and diverse CFD options.

Stocks and Commodities – The platform offers a comprehensive selection of stocks and commodities, allowing users to invest in companies and raw materials across global markets.

Cryptocurrencies – AvaTrade supports trading in cryptocurrencies, providing access to a multitude of digital assets, including popular ones like Bitcoin, Ethereum, and more.

ETFs, Bonds, Treasuries, and Indices – AvaTrade’s offerings extend to ETFs, bonds, treasuries, and indices, offering diversification opportunities and exposure to various sectors and industries.

4. Pepperstone – Top Platform For Trading With Excellent Support Service

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Pepperstone website
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Our research has unveiled Pepperstone as a top-notch platform for Australian traders, offering exceptional support services and a comprehensive range of trading features. We tested it, and the team is very responsive via multiple channels, offering quality assistance that boosted our experience. Note that Pepperstone customer service operates 24/7 support via email, phone, and live chat. There is also a small FAQ section to assist users with quick answers to commonly asked questions. 

 Pepperstone offers access to over 1200 CFD assets, including cryptocurrencies, forex, commodities, indices, and more. This diversity allows traders to build diversified portfolios and capitalise on various market opportunities. Its combination of comprehensive offerings, user-friendly interface, and excellent support services make Pepperstone a top choice for Australian traders seeking a reliable and feature-rich trading platform. We therefore, give it a 4.5-star rating.

Pepperstone Review
TradingGuides Rating:
✔ Top tier liquidity
✔ No dealing desk intervention
Pros & Cons
Fees
Trading Assets
Pros
  • Low spreads starting from 0.0 pips
  • A user-friendly and highly customisable algorithmic trading platform
  • Social trading feature that allows you to interact with other traders
  • Excellent collection of learning resources and a demo account
Cons
  • Limited asset offerings
  • No buying and taking full ownership of the listed assets

Type Fee
Minimum Deposit  $200
Withdrawal fee $0
Deposit fee $0
Inactivity fee No
Account fee No

1200+ instruments across FX, indices, cryptocurrencies*, equities, energy and commodities, and more, across three, free powerful platforms.

*Only Pro clients get access to cryptos.

5. OANDA – Best Forex Trading Platform in Australia

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Our experience with OANDA confirms its status as the best forex trading platform in Australia. We found Oanda’s platform to be exceptionally user-friendly, with intuitive designs that ensure a seamless trading experience, even on mobile devices. One notable aspect of OANDA is its lack of a minimum deposit requirement. This provides newcomers and budget-conscious traders with flexibility and peace of mind to determine their trade amounts without initial risk concerns. 

We recommend this broker primarily to Australian forex traders because of its low trading fees starting from 0.6 pips on over 70 forex pairs. Its affordability offers a competitive advantage for forex traders, allowing them to maximise their experience. Moreover, OANDA provides an abundance of research tools and educational resources like videos, articles, and more. The risk-free demo account facilitates market familiarisation, while its generous welcome bonus and cash rebates enhance users’ trading journeys. With additional securities and platforms like TradingView and MetaTrader 4, OANDA earns a well-deserved 5-star rating from us.

OANDA Review
TradingGuides Rating:
✔ Outstanding research tools
✔ Fast and user-friendly account opening
Risk Warning
76.6% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the risk of losing your money.
Pros & Cons
Fees
Trading Assets
Pros
  • No minimum deposit is required
  • +70 currency pairs provided
  • It has a welcome bonus for new users
  • Excellent research resources
Cons
  • Customer service is only available 24/5
  • No touch or face ID on its mobile app

Type Fee
Minimum deposit $0
Overnight fee Yes
Deposit fee $0
Withdrawal fee $0 to your PayPal account*
Inactivity fee Yes

*We do not charge a fee for withdrawals made to your PayPal account. If your PayPal account is denominated in a currency other than GBP, EUR or USD, you may incur an exchange fee levied by PayPal.

With OANDA, you can trade forex, indices, metals (a wide range of metals, including gold and silver), commodities and bonds.

6. FP Markets – Best Stock Trading Platform in Australia

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From our research process, FP Markets excels as the best stock trading platform in Australia. We found its account opening procedure to be straightforward, allowing us to get started with a minimum deposit of $100 and zero transaction charges—a significant advantage for stock traders in Australia. The best part is that stock trading is supported on its Iress, cTrader, MT4 and MT5 platforms. Plus, the platform supports social trading, which simplifies interaction and enables the replication of potentially profitable positions from expert traders.

FP Markets charges low trading fees, with spreads starting from 0.0 pips on major currency pairs. Users can explore DMA features to connect directly with liquidity providers, further enhancing trading efficiency. Based on our analysis, we confidently award FP Markets a 5-star rating for its comprehensive offerings, advanced trading features, and competitive pricing.

FP Markets Review 2024
TradingGuides Rating:
✔Low trading fees
✔Accounts can be opened fast and easy
Pros & Cons
Fees
Trading Assets
Pros
  • Low minimum deposit
  • Multiple trading platforms, including cTrader, Iress, MT4 and MT5 to choose from
  • Over 10,000 CFD securities to choose from
  • Quality learning and research materials offered
Cons
  • No price plan
  • Only CFD assets supported

Type Fee
Minimum deposit $100
Overnight fee $0
Deposit fee $0
Withdrawal fee Depends on payment method
Inactivity fee $0

There are plenty of trading options to choose from on FP Markets. These include 70+ currency pairs, more than 10,000 stocks on global exchanges, 5 cryptocurrency CFDs,  46 ETFs, 19 major global indices, and commodities. The commodities available include gold, silver, oil and more.

7. CMC Markets – Cheapest Trading Platform in Australia

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If you are looking for the cheapest trading platform in Australia, we primarily recommend CMC Markets stands. During our experience with it, we were impressed by the platform’s combination of quality trading tools and low fees, making it a top choice for cost-effective trading. CMC Markets offers zero commissions on US, Aussies, Japan, UK, and Canadian share CFDs, along with low spreads starting from 0.0 pips, ensuring competitive pricing for traders. With a vast selection of over 12,000 markets spanning forex, indices, commodities, shares, and treasuries, traders can efficiently diversify their portfolios.

We noted that CMC Markets hosts quality research tools on its MT4 and NextGeneration platforms, including over 115 technical indicators, 70+ chart patterns, and 12 built-in chart types. The platform’s lightning-fast execution speeds and no minimum deposit requirement further enhance accessibility for traders of all levels. Comparing it with other Australian platforms for trading, CMC Markets earns a 4.4-star rating. We also find it to be the best day trading platform Australia. 

CMC Markets Review 2024
TradingGuides Rating:
✔ Top tier forex and CFD broker
✔ Great selection of assets
Pros & Cons
Fees
Trading Assets
Pros
  • No minimum deposit requirement
  • Low trading fees, thus attracting active traders
  • Quality learning and research tools
  • Hosts MT4 and NextGeneration platforms
Cons
  • A $15 monthly inactivity fee applies after 12 months
  • Features only CFD assets

Type Fee
Minimum Deposit £200
Inactivity fee £10 monthly
Withdrawal fee £0
Deposit fee £0

  • Stocks – pick and choose between 9,500 different international company stocks listed on exchanges in North America, Europe, and Asia. Use leverage to increase your exposure and analyze the assets with an award-winning stock trading platform.
  • Indices – there are close to 100 indices available, from the FTSE 100, US 30, and Germany 40 to smaller more unknown versions. CMC also has some of the tightest spread on indices in the industry.
  • Forex – foreign exchange was the first thing that CMC ever offered and it remains one of their most popular services to this day. With 330 currency pairs, you can rest assured that you can trade any major, minor, or exotic forex pair that you could ever wish for.
  • Commodities take positions on more than 100 cash and futures and profit from precious metals, energies, or even foods. Gold is always a popular option and so is Brent oil, natural gas, corn, copper and platinum.
  • ETFs – more than 1,000 ETFs await you on the CMC Markets trading platform. With super-fast execution and a 99.8% fill rate, you’re able to take your trading to the next level on one of the most versatile financial markets around.
  • Treasuries – for a more unique trading experience, you can take positions on 50 instruments based on government bonds and interest rates, both in Europe and North America.
  • Share Baskets – these instruments are exclusive to CMC Markets and provide an opportunity to profit from the next major trend. Trade baskets based on tech stocks, U.S. banks, or even streaming services, and lower the overall risk through diversification.

8. Saxo – Best Trading Platform For Professional Traders

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Professional traders in Australia will enjoy their experience with Saxo for as long as it matches their trading needs. We tested the platform and had access to an impressive selection of 71,000+ assets from global markets, all of which you get to trade with fees as low as USD 1. Notably, Saxo imposes no minimum deposit requirement, allowing Australian traders to commence trading with any affordable amount.

Our exploration of Saxo’s SaxoTraderPRO platform, specifically designed for professionals, revealed its exceptional customisation options and compatibility with iOS and Windows devices. This platform provides an unparalleled user experience, offering advanced trading resources and support for algorithmic orders. Moreover, Saxo offers a unique feature allowing users to earn interest on uninvested funds, enhancing overall profitability for professional traders. From our analysis, we confidently endorse Saxo and give it a 4.6-star rating. 

Saxo Review 2024
TradingGuides Rating:
✔ Competitive forex spread costs
✔ Best for experienced traders
Pros & Cons
Fees
Trading Assets
Pros
  • Over 71,000 trading securities to explore
  • Features automated trading on its “Managed Portfolios” section
  • Excellent research tools for market analysis
  • A user-friendly and intuitive design platform
Cons
  • Limited learning tools compared to its peers

Type Fee
Minimum deposit $0 (for Classic account)
Inactivity fee $0
Deposit fee $0
Withdrawal fee $0
Manual order fee €50 per order
Stocks from $1 on US stocks
Futures $1 per lot
Listed options $0.75 per lot
ETFs from $1
Bonds from 0.05% on govt. bonds
Mutual funds $0

Stocks, Crypto, Forex, CFDs, ETFs, Commodities, Futures, Forex options, Bonds, Listed options, and Mutual funds.

What do Other Traders Say?

Our research to find the best trading platforms in Australia is usually lengthy and overwhelming. This is because we not only test and compare various platforms before selecting. We also analyse user opinions and testimonials on Google Play, the App Store, and Trustpilot regarding their experience with various platforms. We then combine the findings from our tests and user recommendations to ensure we remain unbiased. See below some of the comments we sampled on these platforms. 

1. Plus500

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Users primarily mention Plus500’s straightforward interface and competitive spreads. We also noticed that others appreciate the platform’s support service reliability and quality trading resources for both newbies and professionals. 

  • “After many years of trading on this platform I had the chance to learn and improve my trading skills. It’s the best app and easy to use. I’ve tried other platforms but this one it’s far better 👍” – Ludovic Gyorfi

  • “Very good, no problems with deposits or withdrawals, real time prices, you can make alot of money here.” – ramzyki

2. eToro

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eToro is primarily appreciated for its social trading features, allowing users to interact and learn from other investors. The platform’s intuitive design and range of investment options also receive positive feedback.

  • “Good reliable platform for investing in various asset classes and also for day trading. The assigned RMs are proactive and available to give guidance as needed. The RM follows up until the query is resolved.” – Ankit

  • “Really I think it is amazing app” – AmirFerdos

3. AvaTrade

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Many users praise AvaTrade for its user-friendly interface and diverse trading platforms. Some mention excellent customer support, while others highlight the platform’s educational resources for beginners.

  • “I was contacted within 10 minutes from opening my account. The account validation process took less than 1 hour. I was literally trading on a live account within 2 hours from opening my account. Very impressed with the service.” – Mr Coetzee

  • “Very smooth and clean, educational videos to support your understanding of the system and trading in general. Interactive customer service that actively try to support you as best they can, very friendly and understanding” – Jaundre Koekemoer

4. Pepperstone

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When it comes to Pepperstone, the majority of traders commend it for its fast execution speeds and low fees. The platform’s selection of trading tools and responsive customer service also receive praise.

  • “Fast and easy deposits and withdrawals, good customer service and a well-regulated broker.” – Andreas

  • “I’ve used many trading platforms, and this is my favourite. Took me a while to get used to it, as it was slightly different from what I was used to, but now love it & all its features.” – Jana from Gold Coast

5. OANDA

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Many OANDA users highlight the platform’s reliable trade execution and comprehensive research tools. Some mention the availability of advanced charting features, catering to experienced traders.

  • “Account was easy to open and was contacted next day by Luke a VERY helpful account manager who was very knowledgeable and answered all my questions quickly. Happy with service.” – Lucy P T

  • “The most reliable broker out there I’ve been with them for years and they’ve never disappointed me and when it comes to withdrawal they are super fast I would rate them 10/10 but obviously no broker is perfect but so far so good” – Zukisa Gaca

  • “iOS 12.3.1 is the software I’m currently using and the app crashes out of the blue a lot and I’m using the app on my iPad Pro 11 inch with iOS 12.3.1 and on my iPhone XR running the same software! The only way to describe the crash is that it happens out of the blue I could launch the app and it runs fine for a few minutes and then it just crashes and kicks me back to the home screen and then sometimes I’ll open the app pull up a chart and try to switch between the different time frames and it will crash! Please fix this I do most of my trades from my mobile devices and I love the oanda app but the random crashes Haagen got to go thanks in advance!!!” – Michael

6. FP Markets

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FP Markets has gained numerous positive reviews from many users, including its ability to offer an extensive range of tradable assets and competitive pricing. The platform’s customer service and educational resources also receive positive feedback.

  • “Customer support is really marvelous, my problem was taken seriously and solved within no time. Thanks to the team for their efforts. Great!” – Tariq

  • “The app is user friendly. Even for beginners, it is easy to use, and the customer service live chat is quick in replying.” – Wayne K

  • “Awesome! I’ve been trading with their mobile app for a while now and no issues or lags have occurred; their UI is also clean and smooth.” – Edwina G

7. CMC Markets

CMC Markets is appreciated for its powerful trading platform and diverse asset selection. Many professional traders also find the platform reliable since it hosts quality advanced trading tools and offers a reliable support service team. 

  • “Simple easy to use platform and great demo from Tom showing start to finish trade and shortcuts to navigate features.” – Customer

  • “Great app, just better if holding costs were more clear. As per the tile, make it really straightforward to understand the holding costs daily/weekly/monthly for each product inc etfs so we don’t have to do the work to break it down.” – Suggssi1

8. Saxo

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Saxo’s professional-grade trading tools and access to global markets are among the elements that earn it high reviews on Google Play, the App Store, and Trustpilot. We also noticed that some users are impressed by its trading platform and support service team. 

  • “The person was very patient and good at slowly explaining things step by step and also strived to introduce the useful functions of the trading platform.” – Frank Sakda Sreesangkom

  • “Took a bit to get used to, but now I can really appreciate the slick UI and great performance. Wide range of products and their support replied in a timely manner the few times I had questions. Also never had any problems with outages which is a huge relieve” – Christoph Müller

How to Start Trading with Trading Platform in Australia

Online trading in Australia can be exciting and lucrative as long as you have the right broker and master proper procedures to get started. Below, we take you through how to start trading with platforms like the ones we recommend above. Ultimately, you will be able to confidently engage in this venture and enjoy your experience.

Step 1: Choose a Suitable Platform
Step 2: Create an Account
Step 3: Verify Your Account
Step 4: Deposit Funds
Step 5: Start Trading

Before diving into the world of trading, it is imperative to select a reputable platform regulated by ASIC. Look for platforms that adhere to the authority’s strict regulatory standards, ensuring the safety of your funds and the integrity of your trades. Consider factors such as the platform’s track record, reputation, range of available assets, and fees. If you are always on the move, download and install a platform’s trading app on your mobile device. This way, you will easily manage your activities anywhere, anytime. 

Once you have chosen a platform that meets your requirements, the next step is to create an account. If you have selected an option from our recommendations list, click on any of the links we have shared on this page for quick access to its website. Click “Register”, “Create Account”, or “Join”, to begin the process, which typically involves providing basic personal information. These may include your name, email address, phone number, source of income, and more. Follow the platform’s instructions to complete the registration process, ensuring accuracy and security in your account details.

Account verification is a crucial step mandated by ASIC regulations to prevent fraud and money laundering. Depending on the platform, you may be required to provide additional documentation to verify your identity and address. This could include sharing a copy of a government-issued ID and possibly a photo of yourself holding the ID for identity verification. Some brokers may also request for a copy of a recent utility bill or bank statement to verify your location. Be prepared to undergo this process promptly to unlock full access to the platform’s features.

With your account verified, you can now proceed to deposit funds into your trading account. Most platforms offer various deposit methods, including bank transfers, credit/debit cards, and electronic payment systems. Choose the method that suits you best and follow the instructions provided by the platform to complete the deposit securely.

Once your funds are deposited and available in your trading account, you are ready to open your first position. Navigate the platform’s interface to explore the available assets and select the trading opportunity that aligns with your trading strategy and risk tolerance. Enter the desired investment amount and execute your trade according to the platform’s instructions. For beginners, we advise you to start with the platform’s demo account and only transition to the live account once you are confident in your skills. 

How to Choose the Right Trading Platform in Australia

Choosing the right trading platform in Australia is paramount for your trading success and security. With numerous options available, it’s essential to consider several factors to ensure you select a platform that meets your needs and aligns with regulatory standards. Here’s a guide to help you make an informed decision.

In the Australian financial market, ensuring the security of your funds should be your top priority. Look for trading platforms offered by brokers regulated by the Australian Securities and Investment Commission (ASIC). Platforms regulated by ASIC adhere to strict regulatory standards, providing a safe environment for trading and protecting your funds from potential scams or fraudulent activities.

The platform’s features play a crucial role in your trading experience. Opt for a trading platform that offers fast and reliable trade execution, especially if you are an active trader. Additionally, ensure the platform provides a variety of trading tools to enhance your trading strategies. Look for features such as demo accounts, which allow you to test the platform’s suitability before committing real funds.

A diverse selection of assets is essential for building a well-rounded trading portfolio. Choose a trading platform that offers a wide range of assets, including forex, shares, indices, cryptocurrencies and more. Having access to various assets allows you to diversify your portfolio and explore different trading opportunities.

Different trading platforms in Australia impose various trading and non-trading charges. Before committing to a platform, carefully review the fee structure to understand the costs involved. Pay attention to factors such as trading fees, withdrawal fees, minimum deposit requirements, and more. Additionally, be vigilant for any hidden costs that may impact your trading profitability.

Responsive and reliable customer service is vital for addressing any concerns or issues that may arise during your trading journey. Select a trading platform with dedicated customer support that offers prompt assistance whenever you need it. Consider factors such as service availability, communication channels, and the responsiveness of customer support agents.

User recommendations and testimonials can provide valuable insights into the overall user experience with a trading platform. Take the time to read reviews on platforms such as Google Play, the App Store, and Trustpilot to gauge user satisfaction and identify any potential drawbacks or concerns. While individual preferences may vary, user feedback can help you make an informed decision.

Online Trading in Australia

Online trading in Australia has become increasingly popular, offering individuals the opportunity to participate in the global financial markets from virtually anywhere with an internet connection. With the advancement of technology and the rise of online trading platforms Australia, traders now have access to a wide range of investment opportunities, including stocks, forex, commodities, cryptocurrencies, and more.

One of the key advantages of online trading in Australia is its accessibility and convenience. Traders can execute trades, monitor market movements, and manage their investment portfolios using desktop computers, laptops, or mobile devices. This flexibility allows for greater autonomy and control over one’s investments, empowering traders to make informed decisions based on real-time market data.

Australia boasts a well-regulated financial market overseen by the Australian Securities and Investments Commission (ASIC). ASIC ensures transparency, fairness, and investor protection within the industry, instilling confidence in traders and investors alike. The Australian dollar (AUD) plays a pivotal role in online trading, particularly in the currency market. As a commodity currency closely tied to the performance of key Australian exports like iron ore and gold, the AUD’s value is subject to influence from global economic trends, commodity prices, and domestic factors such as interest rates. Therefore, traders must monitor these dynamics closely to anticipate fluctuations in the AUD’s value and make informed trading decisions. 

FAQs

What is the largest broker in Australia?

From our experience, Saxo is the largest broker that accepts Australian clients. This is primarily because the platform lists over 73,000 trading assets and hosts quality resources for strategy development. It has also been in the industry for decades, earning global recognition. This doesn’t mean that there are no other brokers with quality trading tools. You simply have to conduct extensive research to find them. 

Who has the lowest trading fees on the Australian market?

There are numerous trading platforms in Australia with low trading fees. However, CMC Markets takes the lead in this category as it has no minimum deposit requirement, and its spreads start from 0.0 pips on major currency pairs. 

Is eToro free in Australia?

No. eToro is not a free trading platform, as it charges commissions and spreads for its trading services. However, the platform hosts a virtually funded demo account you can start trading with. This demo account is risk-free and allows you to explore various asset classes without spending real money. While eToro’s demo account is free, you cannot earn real profits and withdraw funds with it. 

Which platform is best for trading for beginners in Australia?

From our analysis, many trading platforms in Australia are beginner-friendly. Good examples are Oanda, eToro, Pepperstone, AvaTrade, and FP Markets. These platforms host excellent features, including user-friendly platforms, social trading options, quality learning resources, and more. All you have to do is test and compare various options for the best choice. 

Conclusion

Whatever your reasons for trading in Australia, it is crucial to choose a platform that aligns with your trading goals and offers the flexibility you need. While our recommended platforms above may not all be Australian-based, they provide top-notch services and offerings to meet your needs. As a beginner, getting started using a platform’s demo account is the best decision. This way, you get to test a platform and explore the financial market risk-free. And after you transition into the live account, always conduct market research for solid strategies and apply risk management controls to mitigate massive losses in case a trade fails to work out in your favour. By carefully evaluating your options and staying informed, you can make confident decisions and maximise your trading experience in Australia.

How we test?

Our test process is really based on two different aspects: our independent tests and research, as well as user reviews from Google Play, the App Store, and Trustpilot, etc.

The first thing we do when testing is to check every detail and test every tool and instrument. Our experts spend more than 200 hours on every article. We pay special attention to the specific function or the criteria that we’re comparing during the comparing stage. This means that we must determine which broker is more suited for beginners, and which is better suited for experts, for example. Find out more about our test process here.

Thadeus Geodfrey logo
Thadeus Geodfrey

Is a regular dad trying to be smart about how we play and win in this big game of life. He has worked within the very best of the financial industry producing numerous training resources. He is an experienced copywriter with immense financial background. Now earns a full time living as a Trader, and as our writer.

His articles help everyday families build sustainable wealth, stop stressing about their financial security, and start living the life they’ve always wanted.
If he is not trading or writing, he is at the gym.

One Reply to “Best Trading Platforms in Australia”

  • Kavita Reddy says:
    Discovering the best trading platforms in Australia was an enlightening experience, especially with my trusted broker, AvaTrade, by my side for the past two years. Comparing it with others highlighted its reliability and extensive features. What's more, learning that AvaTrade has expanded its presence to Australia was a pleasant surprise. This article helped me uncover this information, making my decision-making process even more informed.

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