Australians who want to participate in the stock market can do so in various ways. Online brokers provide a wide range of services, from basic to comprehensive, and some are known for their trading tools or research.
The Australian Stock Exchange (ASX), according to Wikipedia, is the world’s 16th biggest stock exchange, with a market capitalization of $1.44 trillion. Depending on their broker, Australians can also trade on some of the world’s leading businesses, such as the NASDAQ in the United States. Australian brokerages are regulated by the Australian Securities and Investments Commission (ASIC).
If you’re in Australia and looking to trade stocks, let’s get down to business and find the best stock broker in Australia!
CommSec is one of Australia’s leading internet brokers, with trading access to 25 different global exchanges. CommSEC gives traders a variety of trading instruments and market information, despite its high share trading costs.
Cheap Stock Brokers in Australia
If you’re going for something less costly, Interactive Brokers is the place to go. This company provides a cheap pricing strategy for your investment and has a record of delivering the best returns and investment returns.
Interactive Brokers has the most comprehensive portfolio in the market and dominates in several categories, including international trading. Customers may trade in over 135 foreign marketplaces in 33 countries across the world.
Interactive Brokers introduced cryptocurrency trading to their portfolio in September 2021. Traders may now use their integrated accounts to trade Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.
Retail forex trading is unavailable in the United States unless Interactive Brokers approve you as an “eligible contract participant.” This more precisely refers to a person or organization having a net worth of more than $10 million.
Interactive Brokers has allowed American investors to trade spot gold in one-ounce increments. A large range of micro and small-sized futures contracts have also been offered. These contracts, like tiny crude oil futures, allow more people to participate in futures markets.
Best Overall Stock Trading Platform
CMC Markets gives Australian traders a comprehensive selection of options with special pricing and its Next Generation trading platform, which is packed with new trading tools and charting through offices regulated in key global financial cities. For the previous eight years, CMC Markets has been named Canstar’s Broker of the Year.
CMC Markets has a wide range of features and alternatives to appeal to all types of traders, including CHESS-sponsored Australian shares, worldwide shares, and currencies. You’ll also get access to sophisticated technical charts, stock watchlists, and conditional orders, among other features.
There are different options based on various categories; however, if you’re looking to invest, make sure you’ve researched the best stocks available to support. Furthermore, you can also look into the platforms that provide easy solutions to your investment.