Comparing Share Trading Platforms in Australia

When it comes to share trading in Australia, choosing the right platform can significantly impact your investment experience and success. With numerous options available, each offering a range of features, fees, and tools, it's essential to evaluate your choices carefully. In this comprehensive guide, we'll compare some of the most popular share trading platforms in Australia, focusing on their key features, costs, and overall suitability for different types of investors.

1. Introduction to Share Trading Platforms

Share trading platforms are online services that allow investors to buy and sell shares, manage their portfolios, and access various market information and research tools. In Australia, the landscape of share trading platforms is diverse, ranging from basic, low-cost options to more advanced, feature-rich platforms catering to experienced traders.

2. Key Features to Consider

When comparing share trading platforms, consider the following key features:

• Trading Fees: Different platforms charge varying fees for trades, which can be either flat fees or a percentage of the trade value. Lower fees can be beneficial, especially for frequent traders.

• Account Types: Platforms may offer different account types, including standard brokerage accounts, margin accounts, and retirement accounts (like SMSFs - Self-Managed Super Funds).

• User Interface: The ease of use and the design of the platform can significantly impact your trading experience. Look for a platform with a user-friendly interface that suits your trading style.

• Research Tools: Access to market data, analysis tools, and research reports can help you make informed investment decisions.

• Customer Support: Good customer support can be crucial, especially if you encounter any issues with your account or trades.

• Mobile App: For traders who prefer trading on the go, a reliable mobile app with full functionality is important.

3. Comparison of Top Share Trading Platforms

Let's compare some of the top share trading platforms available in Australia:

3.1. CommSec

Trading Fees: CommSec charges $10 per trade for trades up to $1,000, with fees increasing for higher amounts.

Account Types: Offers standard brokerage accounts and SMSF accounts.

User Interface: Known for its user-friendly interface and robust trading tools.

Research Tools: Provides extensive research reports, market news, and analysis tools.

Customer Support: Excellent customer service with various contact options including phone and email.

Mobile App: Highly rated app with comprehensive trading features.

3.2. SelfWealth

Trading Fees: SelfWealth offers a flat fee of $9.50 per trade, regardless of the trade amount.

Account Types: Standard brokerage accounts available.

User Interface: Simple and straightforward interface that is easy to navigate.

Research Tools: Limited compared to some competitors but includes essential market data.

Customer Support: Good support with responsive service.

Mobile App: Functional app with core trading features.

3.3. IG Markets

Trading Fees: IG Markets charges a minimum of $8 per trade with competitive pricing for larger trades.

Account Types: Offers standard brokerage accounts and margin trading accounts.

User Interface: Advanced interface with customizable features for experienced traders.

Research Tools: Comprehensive research tools, including advanced charting and market analysis.

Customer Support: Excellent support with a variety of contact options.

Mobile App: Highly functional app with advanced trading capabilities.

3.4. ANZ Share Investing

Trading Fees: Charges $19.95 per trade for trades up to $10,000, with lower fees for larger trades.

Account Types: Provides standard brokerage and SMSF accounts.

User Interface: Well-designed platform with easy navigation.

Research Tools: Good range of research tools and market insights.

Customer Support: Reliable customer support with multiple contact methods.

Mobile App: Solid app with good trading features.

3.5. CMC Markets

Trading Fees: CMC Markets charges a minimum of $0 for trades under $1,000, with competitive pricing for higher amounts.

Account Types: Offers standard, margin, and SMSF accounts.

User Interface: Highly advanced platform with a range of customization options.

Research Tools: Extensive research and analysis tools, including live charts and market news.

Customer Support: Strong customer service with various support channels.

Mobile App: Excellent app with a wide range of features.

4. Conclusion

Choosing the right share trading platform depends on your individual needs and trading preferences. If you're looking for low fees and basic features, platforms like SelfWealth may be ideal. For more advanced trading tools and comprehensive research, IG Markets or CMC Markets might be better suited.

5. Summary

When selecting a share trading platform in Australia, consider factors such as trading fees, account types, user interface, research tools, customer support, and mobile app functionality. Each platform offers unique advantages, so weigh these based on your trading style and needs to find the best fit for you.