Best Trading Platforms Australia (Day Trading ASX)
Investing in the stock market is now effortless due to the introduction of trading platforms. This has made it easy for investors to monitor how the market performs through their mobile devices or computer. The use of trading platforms is on the rise in Australia; thus, you need to be cautious before using an online broker to invest in the stock market.
You need to ensure the trading platform has a user-friendly interface, an analysis tool, data security, responsiveness, reliability, and an automatic trading feature. On that note, we help you reduce the research time of the best trading platform in Australia. As in this guide, you get information on the ten best stock trading platforms in Australia.
10 Best Stock Trading Platforms in Australia
The following is a list of ten of the best stock trading platforms in Australia.
· CMC Markets
· IG Share Trading
The top stock trading platform in Australia on our list is the Plus500. As per Australian financial experts, they term Plus500 as the safest due to it being controlled by top financial authorities like;
· Reserve Bank of Australia
· Australian Prudential Regulation Authority
· The Australian Securities and Investments Commission
· The Australian Treasury
Plus500 allows investors to trade stock CFDs, stock Index CFDs, commodity CFDs, ETF CFDs, spot currency pairs, and cryptocurrency. When using this platform, you will not pay any commission or trading fees.
Additionally, you can withdraw five times a month for free. However, experts inform investors that Plus500 is not the best when it comes to long-term investing.
Regulated by the Australian Securities and Investment Commission, CMC Markets is among the best trading platforms you should be using while in Australia. You can buy international shares, indexes, cryptocurrencies, treasuries, stocks, CFDs, forex pairs, and commodities at this platform. If it's your first time trading at CMC Markets, you get a 0.1% commission for the first ten trades per month.
Unlike other platforms, CMC Markets hasn't set a minimum amount to deposit. This favors new investors. Trading using CMC is the best as it offers low fees if you are a casual investor. Additionally, it has a live support chat, which makes it easy to get help. If you are a new trader, you will get educational and training materials on the platform.
Is it your first time to trade? Then the best platform for a beginner is eToro. This is because eToro is termed as social trading by users due to traders being able to share ideas on the platform.
eToro has its headquarters in Israel but works in Australia, and the Australian Securities and Investment Commission regulates it. You can purchase stocks, ETFs, CFDs, indexes commodities, currencies, and digital currencies on this trading platform.
When trading ETFs and stock, you will not be charged any commission. But for the others, you will pay a commission fee. Due to it being favorable to beginners, creating an account is fast. You will also receive materials to help you learn about trading on the platform.
Another online broker operating in Australia is SwissQuote. This platform is best for intermediate and expert traders as its minimum deposit fee is high (AU$1346). At SwissQuote, you can trade funds, forex, stocks, and CFDs.
Expert traders prefer this broker because it's trusted by the banking sector. Additionally, if you don't understand English, you can change the language as it has numerous languages.
Before you begin official trading at SwissQuote, you can create a demo account first. If you are a new trader, you can find learning material to help you trade properly. Furthermore, if your account is inactive, you won't be charged, unlike other brokers.
Managed by Commonwealth Bank, CommSec is another leading online broker in Australia. You can create a CommSec account even though you aren't a Commonwealth Bank customer.
At CommSec, you can trade up to twenty-five global currencies. This trading platform is best for use for both beginners and expert traders. On a global scale, CommSec has been in operation for the past twenty years. You can also download the CommSec application on your smartphone or tablet to access your account.
In the Australian trading market, Pepperstone has a great reputation. This platform was started in 2010. As a new trader on this platform, you can create an account. However, there are two accounts;
For you to trade on Pepperstone, you need to deposit a minimum of AU$500. Additionally, this platform has a low commission fee. You can trade forex, cryptocurrencies, and some CFDs. If you have any questions about trading at Pepperstone, you can contact their live support chat. This trading platform is regulated by the Australian Securities and Investments Commission.
Presently, many Australian stock traders use SaxoBank. This online broker was started in 1998, thus trusted by many due to their market and financial sector experience. You can trade bonds, commodities, futures, ETFs, CFDs, foreign currency, and stock at SaxoBank.
It would be best if you started trading on SaxoBank. The Australian Securities and Investment Commission regulates this broker.
The reason you should consider trading at Westpac is that it has a low brokerage fee. You can choose from over two thousand two hundred Australian shares on ASX and Chi-X, foreign currencies, ETFs, bonds, and many others.
In case you have any queries, you can contact their support team via email or call from Monday to Friday from 8 AM to 7 PM.
IG Share Trading
IG share trading is known as the number one CFD provider in Australia. When using this broker, you can create a demo account before you open a live account. IG share is best for experienced and new traders.
If you are a new trader, you will get detailed information on using the online broker. At IG share trading, you can buy forex, cryptocurrencies, indices, shares, commodities, and other markets.
The last trading platform is Nabtrade. It has the lowest brokerage at $14.95. When you invest using this platform, you are better at getting a profit of 0.60% per annum of the amount you invested. You also have an opportunity to access global markets such as the US, UK, Hong Kong, and Germany.
Best ASX Shares to Buy Right Now
The ASX is the Australian market operator that ensures proper management of companies listed on the Australian Securities Exchange (ASX).
So, the following are the best ASX shares you should purchase today.
· Afterpay (Technology) – It has a tip price of $2.51 and a return percentage of 3816.3.
· Northern Star (Gold Mining) has a tip price of $0.83 and a return percentage of 1546.4.
· Zip Co (Technology) – This ASX share has a tip price of $0.66 and a return percentage of 813.6.
· Nick Scali (Retail) has a tip price of $1.40 and a return percentage of 696.7.
· Evolution Mining (Gold Mining) has a tip price of $0,72 and a return percentage of 672.2.
· Codan (Manufacturing) has a tip price of $1.52 and a return percentage of 642.4.
· Macquarie Telecom (Information technology) has a tip price of $8.15 and a return percentage of 536.2.
· Data3 (IT services) has a tip price of $0.99 and a return percentage of 532.5.
· Clover Corp (Media Technology) has a tip price of $0.30 and a return percentage of 532.3.
· Medical Developments (Pharmaceuticals) has a tip price of $1.18 and a return percentage of 512.7.
Australian Trading Platform Buying Guide
The Australian Securities Exchange is one of the best in the world. This has made many investors buy and sell shares using brokers regulated Australian securities authorities.
So, this is a guide to help you reap profits by trading using Australian brokers.
What Type of "Shares" Can You Buy?
On the ASX, there are three categories of shares you can trade. They include;
· Ordinary shares – This is the most common type of share traded on the Australian Securities Exchange. Ordinary shares don't have any special or preferred rights when it comes to you as a shareholder.
· Preference shares
· Partly-paid or contributing shares
Different Ways to Buy Shares
The following are ways you should use when buying shares.
· Select a stockbroker
· Create an account
· Make plans
· Choose your preferred stocks
Day trading on the ASX is so far the best option for investors. Therefore, I think you have learned how to buy and sell shares on the Australian market.