Online share trading in Australia: Compare stock brokers (2021)

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Online share trading platforms make it cheaper and easier to buy and sell shares from Australia and overseas. You can use our stock broker comparison table below to compare fees and features and find the best deal for you.

Name	Standard brokerage fee	Inactivity fee	Markets	International
eToro (global stocks)	US$0	US$10 per month if there’s been no login for 12 months	Global shares, US shares, ETFs	Yes	Zero brokerage share trading on US, Hong Kong and European stocks with trades as low as $50. Note: This broker offers CFDs which are volatile investment products and most clients lose money trading CFDs with this provider. Join the world’s biggest social trading network when you trade stocks, commodities and currencies from the one account.	Go to site More Info	Compare	loading Fetching your data...
IG Share Trading	$8	$50 per quarter if you make fewer than three trades in that period	ASX shares, Global shares	Yes	$0 brokerage for US and global shares plus get an active trader discount of $5 commission on Australian shares. Enjoy some of the lowest brokerage fees on the market when trading Australian shares, international shares, plus get access to 24-hour customer support.	Go to site More Info	Compare	loading Fetching your data...
Superhero share trading	$5	No	ASX shares, US shares	Yes	Australia’s lowest-cost broker for ASX shares and ETFs. Pay zero brokerage on US stocks and all ETFs and just $5 (flat fee) to trade Australian shares from your mobile or desktop.	Go to site More Info	Compare	loading Fetching your data...
ThinkMarkets Share Trading	$8	No	ASX shares	No	Limited-time offer: Get 10 free ASX trades ($0 brokerage) when you open a share trading account with ThinkMarkets(T&Cs apply).$8 flat fee brokerage for CHESS Sponsored ASX stocks (HIN ownership), plus free live stock price data on an easy to use mobile app.	Go to site More Info	Compare	loading Fetching your data...
Saxo Capital Markets (Classic account)	$5	No	ASX shares, Global shares, Forex, CFDs, Margin trading, Options trading, ETFs	Yes	Access 19,000+ stocks on 40+ exchanges worldwide Low fees for Australian and global share trading, no inactivity fees, low currency conversion fee and optimised for mobile.	Go to site More Info	Compare	loading Fetching your data...
CMC Markets Invest	$11	No	ASX shares, Global shares, mFunds, ETFs	Yes	$0 brokerage on global shares including US, UK and Japan markets. Trade up to 9,000 products, including shares, ETFs and managed funds, plus access up to 15 major global and Australian stock exchanges.	Go to site More Info	Compare	loading Fetching your data...
HSBC Online Share Trading	$19.95	No	ASX shares, mFunds, ETFs, Bonds	No	Limited time offer: Get up to $100 in brokerage rebates on your first 5 trades when you sign up to a HSBC Online Share Trading account (T&Cs apply). Make trades online with brokerage fees starting from just $19.95 with an HSBC Online Share Trading account. Plus gain access to complimentary expert research, trading ideas and tools.	Go to site More Info	Compare	loading Fetching your data...
Bell Direct Share Trading Finder Award	$15	No	ASX shares, mFunds, ETFs	No	Invest in Australian shares, options and managed funds from the one account with no inactivity fee. Bell Direct offers a one-second placement guarantee on market-to-limit ASX orders or your trade is free, plus enjoy extensive free research reports from top financial experts.	Go to site More Info	Compare	loading Fetching your data...

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Compare up to 4 providers

Important: Share trading can be financially risky and the value of your investment can go down as well as up. Standard brokerage is the cost to purchase $1,000 or less of equities without any qualifications or special eligibility. Where both CHESS sponsored and custodian shares are offered, we display the cheapest option.

Today it's possible to buy and sell stocks from Australia and other parts of the world through online share trading platforms, making it cheaper and easier than ever before. Learn how these online brokers work, how you can make money from stocks, what kinds of fees you'll pay and what all that confusing terminology means in this guide.

Not what you're after? If you're looking for other kinds of investment options, you can find an extensive list on our Investment's Homepage, including term deposits, managed funds, superannuation and forex trading.

In the pre-Internet era, the only way to buy or sell shares was by hiring a full-service stockbroker, which could be expensive and time consuming. Today, investors can buy and sell shares themselves through online trading platforms (aka online brokers).

Using an online platform is far cheaper than using full-service brokers. When you buy shares online, you'll pay a brokerage fee for each transaction, which typically ranges from $10 to $30 for ASX trades, as opposed to $50 to $150 for full-service brokers.

The standard ASX trading hours are 10am to 4pm AEST Monday to Friday, while other global exchanges keep similar hours. Along with shares, you can trade in index funds such as exchange traded funds (which track the performance of a range of stocks) and other products.

Keep in mind there's a minimum first order of $500 when buying shares in a company on the ASX, however some trading apps get around this by offering fractional investing, just as others choose to impose a higher minimum limit. To buy shares online, simply open an account with an online share trading platform such as those listed in the table above.

For a more detailed guide on the process of buying shares, take a look at our 6 step guide to buying shares online.

How do I choose the best online broker?

The best online broker will be different for everybody and we all have different investment goals. When choosing an online share trading platform, consider the following:

Broker fees. This is the fee that is charged every time you buy and sell shares. Brokers charge different fees depending on the product you're trading (e.g. global shares, local shares, options), how often you trade in a month and the size of the trade.
Monthly fees. Some broker's charge ongoing subscription fees or additional inactivity fees if you don't make any trades within a certain period of time. This may or may not suit you depending on your trading requirements.
Advice and research options. Online brokers sometimes offer market news and updates, as well as other research tools that will let you investigate the trading history of individual stocks.
Integration with bank accounts. Some services let you transfer money easily from your trading account to a transaction or savings account. Others offer linked debit cards to use with your accounts.
Access to global markets. Not all brokers offer global shares. If you want to invest in offshore exchanges, such as the New York Stock Exchange (NYSE), check what options are available with each service.
Australian shares. Some online brokers only offer US shares. If Australian shares are important to you, check whether the broker offers access to the Australian Securities Exchange.
Foreign exchange fees. If you're interested in trading global stocks, you'll want to check what the foreign exchange (FX) fee is for converting your AUD to the foreign currency of choice.
Other trading options. Other products offered by some online brokers include forex, CFDs, managed funds and options trading.
Customer support. Check what level of customer support is available, what hours it's available and if the support team is based locally in Australia. This is particularly important for new traders.

Brokerage fee structures

While share trading accounts tend to highlight their lowest available brokerage fee, this is usually impacted by how often you trade and how much you trade. For example, some brokers charge higher fees if you make fewer trades. Or they may charge higher fees the higher the amount you're investing.

Some accounts also have monthly inactivity fees if you don't place any trades for a specific period of time. Other fees, such as the 'custody' fee for global brokers, is sometimes waived if you make a minimum number of trades in a year.

It also pays to consider that brokerage fees can change drastically depending on which market you're purchasing stocks from. For example, CommSec charges from $10 per trade for Australian stocks but $29.95 for US stocks, whereas CMC Markets charges from $11 for Australian shares and $0 for US shares.

Is my online broker safe?

Before you start downloading software, check whether the online broker has a good reputation and is a trusted provider in the community.

You can start by looking at some of our online reviews and doing a bit of research on user experience. Next, look at the team behind the platform. Ask, how long has it been offering online share trading services? Is it backed by a large bank or financial institution?

There are several other key details to look out for:

Encryption. Reputable online trading platforms rely on encryption technology to protect your sensitive information. This means that when you log into a broker’s website, no one will be able to see any of the information transmitted between you and the broker.
Login information. Check out what information you will need to provide in order to log in to your account. While many providers only ask for a username and password, others may ask you to enter an additional security code.
Online checks. Does the provider offer online checks and restrictions to reduce the risk of fraud? For example, do you receive an SMS code that you will need to enter before trading, or do you need to answer an online security question?
Previewing trades. When talking about online share trading security, it’s also important to check that there are measures in place to prevent you placing the wrong trade. For example, does the trading platform show you a preview screen outlining the full details of a transaction so you can review the total cost, total shares purchased etc before placing a trade?
Processes for dealing with fraud. Next, check to see what will happen if you’re a victim of fraud via your trading account. Does the provider have processes in place to reimburse you for any losses you suffer through no fault of your own if you are the victim of fraud? Are there any exclusions to when this cover applies?
Customer support. It’s vital that if something ever goes wrong with a trade or you have a problem with your account, you can quickly access assistance from a company representative. Check to see when and how you can get in touch with the customer support team.

How can I make money from shares?

There are two main ways to make money from share trading:

Capital growth. If you can sell your shares for a higher price than what you paid for them you'll make a profit. This is known as capital growth, given that your initial capital (your shares) has increased in value. This is possible both with short-term investments (where you sell the shares after a brief period of time) and over longer periods.
Dividends. Some (but not all) companies pay regular dividends to their shareholders, based on the amount of profit they make, which can provide an ongoing income stream plus tax advantages for certain investors. Dividend payments are a great form of passive income and it means investors may never need to sell their shares in order to make a profit.

Here's some tips to help get you started:

Read the news. It's important to stay up-to-date with the broader economy, and learn how major events such as national elections impact the share price of various companies.
Research companies before buying. If you want to buy shares in a company, research as much as you can about the company before making your final decision. It's a good idea to read the company's annual reports and meeting minutes to learn what's in the pipe-line, and what changes will be made that could affect their share price.
Up-skill. It can be easy to lose a lot of money by making a poor investment decision or by simply clicking on the wrong button if you don't know what you're doing. Practice trading on a demo account first and consider taking an online investment course.
Consider blue chip companies. This is good strategy for people new to the share market, as blue-chip often have more stable returns, are less volatile and often pay dividends.
Diversify. Say you had $5,000 to invest in the share market. Rather than invest it all in one company, consider spreading it out across a few companies from different industries. Diversification will help lower your risk, and ensure you don't have all your eggs in the one basket.

Ask an expert: How do you pick the right stocks?

Michael McCarthy
Chief market strategist, CMC

Many investors spend hours reading reports and studying charts to select the “right” share, only to disregard the most important factor – themselves. Every individual’s circumstances are unique. We all have different investment goals, amounts to invest, time frames, existing investments and risk appetites. All of these should be taken into account when selecting a stock.
An exciting new technology start up or a promising medical research group might suit an investor with a higher risk appetite and many years of investing ahead of them. On the other hand, an investor in or near retirement might prefer a more stable, well-known business that pays a reliable dividend. It’s up to you.

Before you start buying and selling shares, make sure you’re aware of all the risks involved, including:

Financial loss. The biggest risk in share trading is there's the possibility you could lose some or all of your investment if the company's share price falls dramatically or if the company goes into liquidation.
Company bankruptcy. If a company goes bust, shareholders are usually the last in line to be paid after creditors, meaning there's very little chance there'll be anything left for investors to take home.
Emotional. Market fluctuations can be stressful for shareholders as they see their wealth rise and fall on a daily basis. This can also lead to poor decision-making where investors sell when share prices are low and buy when they're high.
Unexpected events. It's impossible to predict what the future will hold for companies. Even the most secure companies can be negatively impacted by global events such as a pandemic, natural disasters, warfare or political changes.
Lack of expertise. While buying shares is as easy as clicking a button these days, the truth is plenty of people lose money because they don't fully understand what they're doing. First-time investors should educate themselves and ease their way into stocks slowly.

How to protect your personal and financial information

Watch out for scams. Just as online share trading technology has grown more sophisticated, so too have the methods used by scammers to trick people into giving up their account details
Keep your login details safe. This is an obvious tip but one you should always remember. Never give your account login details to a third party, and don’t leave your computer unattended while you’re logged into your account.
Keep a copy of your records. Keep a record of all your online share trading transactions. Your records could be in digital or hard-copy form, but should always be stored in a safe place. This will ensure that you have evidence to refer to if something goes wrong with your account or if you suspect you may have been a victim of fraud.
Look after your computer. Make sure that you always keep your antivirus software up to date to protect your computer against malware and other viruses. In addition, check that you only ever log in to the trading platform via a secure Internet connection.

If you think you’ve been the victim of fraud or a scam, the first thing you should do is notify your online share broker immediately. You should also notify the police and provide full details of what happened. You can also report online stockbroking scams to the Australian Securities and Investment Commission (ASIC).

Finally, remember to take steps to protect yourself against any further loss. Change your password on your share trading account and on any linked bank accounts. Also make sure to update your antivirus software to protect yourself against any further cybercrime.

Share trading glossary - learn the key share trading terms and what they mean

ASX: The abbreviation for the Australian Securities Exchange, Australia's primary stock exchange
All Ordinaries: This is an index of the performance of the share prices of around 500 of Australia’s biggest companies. Also referred to as the All Ords
Bear market: This term refers to when prices on the market are falling and further falls are expected to occur
Blue chip stock: A blue chip stock is a large company with a steady history of turning a profit
Brokerage fee: This is the fee you must pay to a share trading platform when you use the platform to buy or sell shares
Bull market: Opposite to a bear market. This term applies when share market prices are rising and expected to continue to rise
CHESS (Clearing house electronic sub register system): This ASX system settles share trades and acts as the central registry for the electronic transfer of share ownership
Contract note: This confirms a buy or sell transaction and includes details such as the type of share, the price paid and the quantity traded
Dividend: Companies can distribute their profits or earnings to shareholders in the form of dividends. A dividend is calculated as a number of cents for each share you own
Float: The initial raising of capital through public subscription to a security
Fundamental analysis: This involves analysing the financial statements of a business to determine its overall financial standing
Futures: Futures are contracts to buy or sell an asset at a specified future date
Limit order: A limit order specifies the maximum (when buying) or minimum (when selling) price you are willing to accept for a share transaction
Listed company: Listed companies have shares that are purchased and sold through the ASX
Live price: This is the price of a share at a precise moment in time
Market order: A market order is an order to buy or sell a share at its current market price
Short selling: This is when you borrow a security and subsequently sell it, with the obligation to buy it back in future at a much lower price
Volatility: This reflects the amount of fluctuation in share prices
Warrant: This gives its holder the right to purchase a security at within a certain timeframe and at a specific price
Yield: This is your return on an investment and is expressed as a percentage

Want to learn more about share trading?

How the stock market works

The latest in share trading

Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, CFDs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading CFDs and forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades.

Thank you for your feedback!

Kylie Purcell

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Kylie Purcell is the investments editor at Finder, specialising in investment products from online brokers to robo-advisors and ETFs. She has a background in business and finance content with her work featured on sites including Yahoo Finance, Sky Business, SBS, CTGN and the Adviser Magazine. Kylie has a Masters in International Journalism and a Graduate Diploma in Economics. She is currently working towards ASIC RG146 compliance certificates for Financial Advice and Securities and Managed Investments. When she's not writing about the markets you can find her demoing the latest trading app.

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22 Responses

JarvisJuly 12, 2019

Hi! What is the best platform that has a stock screener for fundamental and technical analysis and has a good charting software? Thanks!

Reply

finder Customer Care

FayeJuly 12, 2019Staff

Hi Jarvis,

Thanks for contacting Finder.

You may refer to our list of online share trading platforms. On that page is a comparison table you can use to find the right platform for you. You can press the name of the brand to be redirected to our review page to know if the features you are looking for are present. When you are ready, press the ‘Start investing’ button to open an investment account. Please read the Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you. You can also contact the provider if you have specific questions.

I hope that helps.

Kind Regards,
Faye

Reply

stuJune 13, 2019

how do i transfer stock from one broker to another

Reply

NikkiJune 14, 2019

Hi Stu,

Thanks for getting in touch!

To transfer from one broker to another will depend on who your bank is. Following, you would need to fill out a broker to broker transfer form.
Fill out your details as well as the details of the holding, then complete and sign the Declaration Section. Email the form to your bank’s department handling this matter. Normally, this type of process is free of cost. The transfer process will be dependent on your bank as well.

Hope this was helpful. Don’t hesitate to message us back if you have more questions.

Best,
Nikki

Reply

CharlesMarch 28, 2019

We just want to make a one of sale of shares. What are our best options?

Reply

NikkiMarch 29, 2019

Hi Charles,

Thanks for getting in touch! As per the information above, there are two main ways to make money from share trading: Capital Growth and Dividends and you can read more information on this above. While we review share trading – we are not in the position to recommend the best platform for you but there are a few ways to help you find the best options as seen below:

– Brokers
– Availability of advice and research options
– Integration with bank accounts
– Access to other markets
– Customer support

Hope this helps!

Best,
Nikki

Reply

HamishOctober 17, 2018

Hello I had an etrade account but I can no longer log in to check it….can you help as Etrade had been sold off??

Reply

JoelOctober 17, 2018

Hi Hamish,

Thanks for leaving a question on Finder.

The E*TRADE Australia has already been stopped and is now replaced by ANZ Share Investing. If you are looking to access your ETrade account, please contact ANZ directly for instructions on how to do it step by step.

Please send me a message if you need anything else. :)

Cheers,
Joel

Reply

GirlieMay 6, 2018

Why are there so many different terms and conditions requiring a check mark when setting up an account with CMC

Reply

finder Customer Care

JeniMay 7, 2018Staff

Hi Girlie,

Thank you for getting in touch with finder.

As a friendly reminder, while we do not represent any company we feature on our pages, we can offer you general advice.

The reason for this is because buying and selling shares involves a certain amount of terms and conditions and this is something that online traders need to be aware of in order to open an account.

I hope this helps.

Have a great day!

Cheers,
Jeni

Reply

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