Technology has changed investing and trading. Now, anyone in Australia or anywhere in the world with a smartphone can buy and sell stocks—investing is no longer just for the wealthy.
To start, you need the right app to make wise decisions. Many options exist, but we’ll help you find the best ones in Australia. These apps make investing easy and help you manage your money better.
Our Top Picks
Here are our top ten investment and stock trading apps with standout features and benefits.
- eToro: Best Overall Trading App in Australia With Low Fees
- CommSec: Australia's Biggest Trading Platform
- IC Markets: Best for Beginner Stock Traders in Australia
- AvaTrade: Best for Mid-level Traders Specialising in Derivatives
- CMC Markets: Ultimate Trading App for Seasoned Traders
- Westpac Online Investing: Best Blend of Traditional Banking With Modern Trading Versatility
- SelfWealth: Excellent for Cost-Conscious Investors Seeking Low Fees
- IG: Most Feature-Rich Trading App in Australia
- Dough: Best for Ethically Conscious Investors
- nabtrade: Deposit-Free App for Traders
10 Stock Trading Apps for Australians
Let's explore Australia's best investment and stock trading apps, highlighting their features, pros, cons, and reasons for choosing them.
#1. eToro
Best Overall Trading App in Australia
eToro offers access to various assets, including stocks, ETFs, and cryptocurrencies. Its clean and user-friendly design makes investing more approachable for beginners and experienced traders. The platform's CopyTrader feature allows you to follow and replicate the trades of top investors, helping you learn while potentially increasing your returns.
The platform also fosters an interactive investing experience through its social and educational tools. You can engage with other traders, discuss strategies, and expand your knowledge using resources from the eToro Academy. The platform also has a Smart Portfolios feature that offers a structured way to invest in diversified assets, making it easier for new investors to start.
On the downside, currency conversion fees apply when depositing or withdrawing funds in Australian dollars, and a $2 commission applies to stock trades on Australian and international exchanges. Plus, a monthly inactivity fee kicks in if your account is inactive for 12 months.
Pros
- Social trading features
- Beginner-friendly interface
- Strong educational resources
- Wide asset selection
Cons
- Currency conversion fees
- Inactivity fee after 12 months
#2. CommSec
Australia's Biggest Trading Platform
CommSec is a trusted online trading platform in Australia, backed by Commonwealth Bank. You can access real-time updates, a simple interface, and learning resources to improve your trading skills. Unlike many platforms, CommSec allows you to trade on the Australian Securities Exchange (ASX) and across 25 international markets.
You will appreciate CommSec’s CHESS-sponsored trades, which ensure your stock ownership is directly recorded under your name. Another plus is that there are no monthly account fees. If you're new to trading, the educational resources, including webinars and market research from top firms, will help you navigate the market confidently. The platform offers live pricing to update you on stock movements, helping you make timely decisions.
Despite its strengths, CommSec has some drawbacks. Its international trading fees are higher than other platforms, and you’ll need to pay a foreign currency conversion fee of 0.60% when trading overseas stocks. If you primarily trade internationally, these costs can add up over time.
Pros
- No monthly account fees
- Real-time stock pricing
- CHESS-sponsored security
- Strong educational resources
- Wide market access
Cons
- High international fees
- Currency conversion costs
#3. IC Markets
Best for Beginner Stock Traders
IC Markets is a solid choice for low-cost forex and CFD trading. It offers tight spreads and reasonable commissions. You also get access to a variety of financial instruments, including cryptocurrencies. However, if you're looking to invest in stocks, ETFs, or funds, this platform won't meet your needs, as it focuses mainly on forex and CFDs.
IC Markets makes it easy to get started with a quick account setup process and no fees for deposits or withdrawals. This means you can begin trading without unnecessary delays or extra costs. The MetaTrader platform isn't perfect, but experienced traders will appreciate its advanced tools. Additionally, the ZuluTrade copy trading feature offers a great way to learn from other traders, though you should always be mindful of risks.
For drawbacks, IC Market's customer support is decent overall, but the live chat feature is slow.
Pros
- Low-cost forex/CFD trading
- Wide range of assets
- Fast and easy setup
- No deposit/withdrawal fees
- Useful copy trading feature
Cons
- No stocks or ETFs
- Weak mobile login security
- Slow live chat response
#4. AvaTrade
Best for Derivative Traders
AvaTrade is a safe and well-regulated broker worth considering. The investment platform offers a secure and efficient trading environment backed by seven regulatory authorities across five continents. It also provides over 250 trading instruments, including forex, commodities, indices, and cryptocurrencies, to diversify your portfolio.
AvaTrade offers multiple platforms suited to different trading styles, whether you prefer MetaTrader 4, MetaTrader 5, or a simple mobile app. The platform also provides a rich set of educational resources. Customer service is available in 14 languages for quick and practical support.
AvaTrade's limitations include its lack of real stocks, bonds, or mutual funds and its inactivity fees, which can be costly if you do not trade regularly. That said, if you are an active trader focused on Forex and CFDs, AvaTrade provides a reliable, feature-rich, and well-regulated platform.
Pros
- Wide range of assets
- Strong regulatory oversight
- Great educational resources
- 24/5 multilingual support
- High trading liquidity
Cons
- No real stocks or bonds
- High inactivity fees
#5. CMC Markets
Best Trading App for Seasoned Traders
CMC Markets is a well-established trading platform. It is publicly traded and follows strict regulations in multiple high-tier jurisdictions, making it a safe and trusted choice. With over 12,000 financial instruments, you get access to a vast range of trading options, allowing you to diversify your investments. Whether you're a beginner or an experienced trader, CMC Markets offers a competitive edge in the forex and CFD industry.
One of its biggest strengths is affordability. CMC Markets keeps trading costs lower than the industry average. Another highlight is its next-generation platform, which offers a smooth and feature-rich experience. It provides advanced tools, market research, and a user-friendly design that enhances efficiency. The mobile app is equally impressive, ensuring seamless access for on-the-go traders, though it has some limitations with technical indicators.
Despite its strengths, the investment platform does not automatically sync indicators between its web and mobile versions. The mobile app also offers only 29 of the 86 available technical indicators.
Pros
- Strong regulatory compliance
- Low trading costs
- Over 12,000 instruments
- Advanced trading platform
- High-quality mobile app
Cons
- No auto-sync for indicators
- Limited mobile indicators
#6. Westpac Online Investing
Best for Traditional Banking
Westpac Share Trading is backed by one of Australia’s oldest and most trusted banks. You get a broad range of asset classes, from stocks and bonds to ETFs and forex. With access to over 30 international exchanges, you have plenty of opportunities to diversify your portfolio and grow your investments. The platform is built to be easy to use, offering web-based trading, a mobile app, and phone-based transactions for added convenience.
The platform has advanced tools to help you make informed decisions. You get free and unlimited trading alerts and detailed charting tools with customisable indicators. If you're already a Westpac banker, you get extra benefits, including more favourable trading terms through their Cash Investment Account. However, if you want access to premium research, you’ll need to pay for it—though Westpac can rebate the fees based on your trading volume.
Our major peeve was that customer support was not available 24/7. Likewise, frequent traders have no discounts, making it less appealing or rewarding if you're a high-volume investor or trader.
Pros
- Wide asset selection
- Easy access across devices
- Advanced charting tools
- Extra perks for Westpac users
- Free trading alerts
Cons
- No 24/7 support
- No discounts for frequent traders
- Paid premium research
#7. SelfWealth
Best for Cost-Conscious Investors
SelfWealth is a simple and cost-effective trading platform. With a flat $9.50 fee per trade, you don’t have to worry about hidden costs or changing fees based on trade size. The platform is also CHESS-sponsored, which means your investments are securely registered under your name.
The platform is easy to use with automated US tax forms, lodging, and access to US markets. The user-friendly interface makes setting up an account and trading easy. However, remember that SelfWealth charges high foreign exchange fees if you frequently trade international stocks.
Like Westpac, SelfWealth's customer support is not always responsive. The platform also lacks an auto-invest feature.
Pros
- Flat $9.50 trading fee
- CHESS-sponsored security
- Automated US tax form
- Easy-to-use platform
Cons
- Slow customer support
- No auto-invest feature
- High forex fees
#8. IG
Best Feature-Rich Trading App
IG offers access to many investment opportunities, including nearly 20,000 CFDs and exchange-traded securities. The platform supports options and futures trading in key global markets, ensuring reliable and consistent performance and a broad spectrum of markets to explore.
The platform's research tools, trading resources, advanced risk-management features, and educational materials cater to all skill levels. The mobile trading experience is seamless and feature-rich. IG’s competitive pricing structure and Forex Direct accounts provide additional value if you are an active trader. These factors make IG a strong choice for those who want a comprehensive and well-supported trading environment.
Still, the platform lacks pre-defined layouts, so you must customise your workspace manually. Additionally, its MetaTrader offerings are somewhat restricted, with only 76 tradeable instruments.
Pros
- Wide range of investments
- Competitive pricing structure
- Excellent mobile experience
- Strong research and tools
Cons
- No pre-set layouts
- Limited MetaTrader options
#9. Dough (Previously Goodments)
Best for Ethically Conscious Investors
Dough is a micro-investment app that helps you invest in companies that match your values. It offers access to over 4,500 US stocks and ETFs. The platform is built on ethical principles, with strong filters to guide your choices. It also charges zero brokerage fees, making investing more accessible. As a certified B Corp, Dough follows high social and environmental standards, reinforcing its commitment to responsible investing.
The app offers useful features, including fractional investing, which lets you buy small portions of expensive stocks like Tesla and Microsoft. Security is also a priority, with Dough operating under an Australian Financial Services Licence and providing insurance coverage up to $500,000 under the SIPC scheme. However, the platform is limited to US-listed stocks and ETFs. There’s a $5 setup fee, and a minimum deposit of A$100 is required to start.
Pros
- Ethical investment filters
- 4,500+ US stocks and ETFs
- Fractional investing available
- Strong security and insurance
- Zero brokerage fees
Cons
- US stocks only
- $100 minimum deposit
- $5 setup fee
#10. nabtrade
Best Deposit-Free App for Traders
If you want a trading platform that suits beginners and experienced investors, nabtrade is a good choice. You can access over 10,000 securities, including Australian and international shares, ETFs, and hybrid securities. The platform offers research reports and charting tools to make informed decisions. Plus, you can trade on the go with its mobile-friendly interface.
For beginners, nabtrade provides a simple interface and educational resources to build confidence in trading. If you're an advanced trader, you'll appreciate the in-depth market research and tools. The platform offers competitive interest rates on cash balances, adding extra value to your investments. Customer support is reliable, with assistance available via phone or email.
However, there are some limitations. Global market access is restricted to a few countries, and the $14.95 brokerage fee for trades up to $5,000 might not be ideal for small investors.
Pros
- Diverse investment options
- Easy-to-use interface
- Strong research tools
- Mobile-friendly trading
- Reliable customer support
Cons
- Limited global access
- Flat brokerage fee
How We Evaluated
Our investment and stock trading app evaluation was based on a detailed and structured methodology. We aimed to assess their overall performance, usability, and suitability for different investors.
Ease of Use
We examined each app's user-friendliness. This involved testing the account setup process, navigating through different functionalities, and evaluating the overall layout and design of the app.
Range of Tradable Assets
We evaluated each app's variety of investment options, including the availability of different types of securities, such as stocks, ETFs, bonds, options, and international stocks.
Costs and Fees
We also scrutinised the apps' pricing structures, including trading fees, account maintenance fees, and hidden costs. Affordable trading is a significant consideration for all investors, particularly those starting with a smaller capital.
Educational Content and Research Tools
We assessed the availability and quality of educational resources and research tools to help investors make informed decisions. These include market news, analytical tools, academic articles, and videos.
Customer Service
We then looked at the quality and responsiveness of the customer service team. Support channels, availability hours, and response time were some areas we considered.
Security Measures
We also prioritised the safety and security of users' information and funds. We assessed the security features, including data encryption and insurance coverage.
Account Types
We examined the various account types available to users, considering factors such as individual, joint, and retirement accounts.
Regulatory Compliance
Lastly, we ensured each app is regulated by an appropriate financial authority, providing investors a safety net.
Expert Tips for Investing and Stock Trading
While we’ve covered the best investment and stock trading apps, here are some handy tips for when you start investing or trading.
- Diversify your Portfolio: Diversification involves spreading your investments across various assets to reduce risk. Even if one investment performs poorly, others might perform well.
- Understand the Market: Stay updated with financial news, understand market trends, and educate yourself on investment strategies. This understanding can help you make informed decisions.
- Start Small: If you’re new to investing, start with a small amount that you can afford to lose. As you gain experience, gradually increase your investment.
- Have a Clear Investment Goal: Whether it's retirement, buying a house, or saving for a child's education, having a clear goal will guide your investment decisions.
Frequently Asked Questions (FAQs)
Are stock trading apps safe?
Yes, most stock trading apps use advanced security measures to protect your personal and financial information. However, always ensure the app is regulated by relevant financial authorities.
Can I make money with stock trading apps in Australia?
Yes, it's possible to make money through stock trading apps. However, it's important to remember that all investments carry risk, and it's possible to lose money.
Are there fees associated with using investment and stock trading apps?
Yes, most apps have fees, such as transaction fees or inactivity fees. It's important to familiarise yourself with these fees before deciding on an app.
Can beginners use stock trading apps?
Absolutely! Many stock trading apps are designed with beginners in mind, providing educational resources and user-friendly interfaces to help newcomers understand the ins and outs of trading.
Can I use multiple stock trading apps on my phone?
Yes, you can use multiple stock trading apps. This allows you to take advantage of different features and investment options offered by each app.
Can I access stock trading apps from anywhere?
Yes, one of the key advantages of using trading apps is their accessibility. As long as you have an internet connection, you can access your account, check your portfolio, and make trades from anywhere in the world.
Trading stocks is risky and not for everyone. Your investments can go up or down, and you could lose all the money you invest. Past success doesn’t guarantee future results.
Before trading, consider your finances, skills, risk tolerance, and goals. Always get advice from a licensed financial advisor. In Australia, financial advice is regulated by the Australian Securities and Investments Commission (ASIC).
Final Thoughts
Whether you're new to investing or an experienced trader, there’s an app for you. Assess your needs, choose the right app, and leverage it to make better trading decisions and work toward your financial goals.
Investing always involves risk. These apps give you the tools, but the decisions are yours. Understanding the market, diversifying your investments, and trading responsibly is essential. Happy investing.
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