Best Investment Trading Apps for Australians : Gone are the days when managing stocks and shares meant a phone call to your broker or sitting in front of a desktop. Today, thanks to powerful smartphones and intuitive trading platforms, Australians can manage their entire investment portfolios from the palm of their hand. In fact, mobile investing has grown significantly in recent years, with micro-investing apps alone doubling in popularity by the end of 2022.
Whether you’re a seasoned investor or just starting out, choosing the right investment trading app is crucial for growing your wealth. Here’s an overview of the top trading apps for Australians, helping you decide which one best fits your investment style, needs, and budget.
What to Consider When Choosing a Trading App
Choosing the right investment app is more than just about fees. There are several factors that can affect your trading experience and returns, including:
- Ease of Use: How user-friendly is the app? Does it have a clean, intuitive interface?
- Available Markets: Does the app let you trade the markets you’re interested in, such as Australian stocks, US equities, or global indices?
- Demo Accounts: If you’re new to investing, does the app allow you to practice with virtual trading before putting real money on the line?
- Fees: How much does it cost to make trades, and are there other admin or subscription fees to consider?
- Regulation and Security: Is the app regulated by ASIC (Australian Securities and Investments Commission) to ensure your investments are safe?
- Investment Tools: Does the app provide educational resources, research tools, and other features to help you make informed decisions?
Best Investment Trading Apps for Australians in 2024
With a growing number of trading apps in Australia, each platform offers unique features that cater to different investor types. Below are our top picks for the best trading apps that you can use to buy, sell, and manage your investments.
Here’s the information presented in a table format:
| App Name | Best For | Markets Available | Demo Account | Key Features | Fees |
|---|---|---|---|---|---|
| eToro | Copy Trading & Education | Global indices, stocks, ETFs, cryptocurrencies | Yes | Social trading (copy others), educational resources, user-friendly interface | Spread-based fees, no commission on stocks |
| SelfWealth | Low-Cost, Flat Fee Trading | Australia (ASX), US, Hong Kong | Yes | Flat fee model, portfolio tracking, performance analysis, easy-to-use | Flat $9.50 per trade (ASX) |
| Tiger Brokers | Global Exposure | Australia, US, Hong Kong | No | Access to international markets, low-cost trades, efficient interface | Low trading fees, currency conversion fees |
| Superhero | Commission-Free Trading | Australia (ASX), US | No | No commission fees, simple interface, US market access | No commission, foreign exchange fees apply |
| Saxo Markets | Advanced Traders | 50+ global markets | No | Advanced charting tools, real-time data, comprehensive market selection | High fees on some account types, trading fees |
| IG Australia | Advanced Research & Analysis Tools | 50+ global markets | Yes | Extensive research tools, analysis features, wide market access | Spread-based fees, inactivity fees apply |
| Pearler | Micro-Investing & Long-Term Goals | Australia, US | No | Automated investing, micro-investing options, long-term focus | Monthly subscription fee (varies by plan) |
| Stake | Simplicity & US Market Access | Australia, US | No | Simple interface, no commission fees for ASX stocks, easy US trading | No commission on ASX, currency conversion fees |
1. eToro – Best for Copy Trading & Education
- Markets: 19 global indices, stocks, ETFs, and cryptocurrencies
- Demo Account: Yes, for practice trading
- Why We Like It: eToro’s standout feature is its social trading platform, where you can copy the trades of more experienced investors. It’s ideal for beginners or those who want to diversify their portfolio without doing all the heavy lifting. The app also offers excellent educational resources and a demo account to practice before you trade with real money.
2. SelfWealth – Best for Low-Cost, Flat Fee Trading
- Markets: Australia (ASX), US, Hong Kong
- Demo Account: Yes
- Why We Like It: SelfWealth stands out for its flat fee trading model. With no percentage-based fees, it’s perfect for active traders who make multiple transactions. The app provides a streamlined user experience and tools like portfolio tracking and performance analysis, all without hidden fees or commissions.
3. Tiger Brokers – Best for Global Exposure
- Markets: Australia, US, Hong Kong
- Demo Account: No
- Why We Like It: Tiger Brokers offers access to international markets, making it a great choice for those looking to invest in global stocks like US tech giants or emerging Asian markets. The app provides a clean, efficient interface and low-cost trades, though it lacks a demo account for practice trading.
4. Superhero – Best for Commission-Free Trading
- Markets: Australia (ASX), US
- Demo Account: No
- Why We Like It: Superhero is all about commission-free trading. The platform offers low fees and gives you access to both the Australian and US stock markets. The app’s interface is simple and easy to navigate, making it a great option for both beginners and experienced investors.
5. Saxo Markets – Best for Advanced Traders
- Markets: Over 50 global markets
- Demo Account: No
- Why We Like It: Saxo Markets is tailored for experienced traders who need access to a wide range of investment instruments like forex, stocks, bonds, and commodities. With advanced charting tools, real-time data, and a rich selection of markets, it’s perfect for those who want to dive deeper into the financial markets.
6. IG Australia – Best for Advanced Research & Analysis Tools
- Markets: 50+ global markets
- Demo Account: Yes
- Why We Like It: IG Australia offers an impressive suite of research and analysis tools, making it a great option for experienced traders looking for a more comprehensive trading experience. The app provides access to a range of global markets, including stocks, ETFs, and options, with robust charting and analysis tools.
7. Pearler – Best for Micro-Investing & Long-Term Goals
- Markets: Australia, US
- Demo Account: No
- Why We Like It: Pearler is designed for long-term investors who want to automate their investing. The app focuses on micro-investing—allowing you to set up automatic contributions to your portfolio regularly. It’s ideal for beginners who want to invest small amounts over time and build wealth gradually.
8. Stake – Best for Simplicity and US Market Access
- Markets: Australia, US
- Demo Account: No
- Why We Like It: Stake’s simple, no-fuss interface makes it ideal for investors looking to trade US stocks without high fees. The platform is well-suited for those who want to invest in US equities like Apple, Tesla, or Amazon with ease. Stake also offers commission-free trading for ASX-listed stocks.
Understanding Trading Costs
When selecting an app, it’s important to understand the fee structure, as these can vary greatly between platforms. Some of the common fees you might encounter include:
- Trading Fees: A flat fee per trade or a percentage-based charge, depending on the platform.
- Currency Conversion Fees: If you’re buying international stocks, you may incur fees when converting AUD to USD.
- Inactivity Fees: Some platforms charge a fee if your account is inactive for a certain period.
- Withdrawal Fees: Be aware of any costs associated with withdrawing funds from your account.
While many platforms now offer commission-free trading, keep an eye on other potential fees, such as currency conversion or withdrawal charges.
Tips for Using Trading Apps Responsibly
Trading apps offer tremendous convenience, but it’s important to use them wisely:
- Avoid Impulsive Decisions: Mobile trading makes it easy to react quickly to market movements, but avoid trading on impulse. This could lead to making high-risk, speculative investments based on short-term trends.
- Diversify Your Portfolio: Spread your investments across different sectors and asset classes to reduce risk.
- Set Realistic Goals: Don’t expect quick returns. Stock market investing is a long-term endeavor, and while apps make it easy to trade frequently, it’s essential to stick to your strategy and avoid emotional decisions.
- Stay Informed: Use the research tools and educational resources provided by your trading app to stay up-to-date on market news, company performance, and economic events that could impact your investments.
Frequently Asked Questions (FAQs)
Can I invest in stocks from my phone?
Yes, with the right trading app, you can manage and trade stocks entirely from your mobile device
Which trading app is best for beginners in Australia?
Apps like eToro and Superhero are beginner-friendly, offering simple interfaces and educational resources to help you get started.
Do share trading apps cost money?
Most trading apps charge fees, though many offer commission-free trading. Be sure to review the full fee structure, including any currency conversion or withdrawal fees.
Is eToro legal in Australia?
Yes, eToro is fully regulated in Australia and is licensed by the Australian Securities and Investments Commission (ASIC).
What is better than CommSec?
It depends on your needs. SelfWealth offers low-cost flat fees, while Superhero and Stake are great for commission-free trading. For access to global markets, IG Australia or Saxo Markets may be a better fit.
Are investment apps worth it?
Yes, trading apps offer convenience, low fees, and access to a variety of markets, making them an attractive option for many investors. Just ensure you choose one that fits your investment style and goals.
Which one app is best for trading?
The best app depends on your investment needs. For global exposure and educational tools, eToro is a solid option. For low fees, SelfWealth is ideal, and for simplicity, Stake is great for US stock trading.
How much do you need to start day trading in Australia?
Day trading requires a solid strategy and sufficient capital to cover potential losses. Generally, you can start with a few thousand dollars, but be sure to assess your risk tolerance before diving in.
Conclusion
In 2024, trading apps have transformed how Australians invest. Whether you’re looking for a low-cost, easy-to-use app or a platform with advanced tools for seasoned traders, there’s an app to suit your needs. By carefully considering your investment style, goals, and the fees associated with each app, you can make an informed decision and start building your portfolio today. Happy trading!
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