I will discuss the best apps for buying shares in Australia in this article. Nowadays, because of the numerous trading systems, it is not easy to decide which is most suitable for all investors.
To provide the reader with the best options, the leading apps will be evaluated based on their best features, simplicity, and performance.
Key Points & Best Apps To Buy Shares In Australia
| Platform | Key Points |
|---|---|
| eToro | – Social trading features – User-friendly interface – Offers stocks, crypto, and ETFs |
| CMC Markets | – Extensive range of instruments – Advanced charting tools – Competitive spreads |
| SelfWealth | – Flat fee structure – Australian-based – Strong research tools |
| NABtrade | – Integrated with NAB banking services – Extensive research resources – Investor education tools |
| Webull | – Commission-free trading – Advanced trading tools – Strong mobile app |
| Vantage Markets | – Competitive spreads – Wide range of currency pairs – Good for forex trading |
| Axi | – Strong forex offerings – High leverage options – Advanced trading platforms |
| Trade Nation | – Competitive fees – Strong support for forex – Simple trading platform |
| Pepperstone | – Low spreads – Fast execution – Supports various trading platforms |
| Interactive Brokers | – Global market access – Advanced trading tools – Low-cost structure |
10 Best Apps to Buy Shares In Australia
1.eToro
eToro is frequently rated as the best app for purchasing shares in Australia because of its simple interface and attractive social trade prospects.
It allows you to follow seasoned investors’ trades and mimic their strategies.
eToro also boasts a broad selection of stocks, exchange-traded funds, and even digital currencies, making it an attractive destination for all investment endeavours.
Pros And Cons Of eToro
Pros:
- Social Trading: Users can copy the strategies of top performers within the platform.
- Wide Variety of Assets: Many stocks, cryptocurrencies, and exchange-traded funds are included.
- Easy to Use: A simple layout is available to all users, regardless of their experience.
- No Commission On Stocks: Trades in several stocks and does not charge commissions.
Cons:
- Wider Spreads: Spreads may be more than some of the rivals.
- Quite Basic With Research Tools: Has less sophisticated research tools than its competitors.
- Fees on Withdrawals: There are withdrawal fees which eventually aggregate.
- Geographical Limitations: Specific tools and assets may be available depending on your address.
2. CMC Markets
According to Australian brokers, CMC Markets is one of the most advanced apps for buying shares since it contains numerous investment options and advanced charting tools.
It provides competitive spreads and in-depth research materials to novice and pro traders.
This broker’s advanced trading platform ensures Australian investors can expect a comprehensively traded risk.
Pros And Cons Of CMC Markets
Pros:
- Variety of Trading Instruments: This option allows you to trade in various financial instruments, such as shares, forex, and commodities.
- Professional Charting features: Apart from regular accounts with charts instantly available within a month, professional charting and technical analysis can be done through this broker.
- Low Spreads: Low spreads are generally found at this broker’s.
- Research Facilities cater to a broader audience, including investors, by allowing a detail-oriented research module.
Cons:
- Complicated Functionality: The terminal may complicate the beginners as it is too advanced.
- High Minimum Deposit: This is considered high because the minimum deposit allowed by other brokers is much lower.
- Educational Resources are Campus for Students as Few: Educative resources fall short of most competitors.
- Fees on Inactive Accounts: A penalty for not using an account for some time was imposed.
3.SelfWealth
In Australia, anyone wanting to invest in stocks should consider SelfWealth. The app provides a simple and affordable approach to trading with its flat fee structure.
The investment experience is further enhanced by the powerful research tools provided and the presence of support from Australia.
Given its user-friendly layout and lack of commission on trades, the platform is perfect for novice and regular traders.
Pros And Cons Of SelfWealth
Pros:
- Low and All-Inclusive Fee: When investors buy or sell share trades using this company’s services, they pay a fixed amount for each trade, which is excellent for active trading.
- Focused on the Australian Market: We understand our clients and provide Australian investors with relevant services.
- Good Analytical Options: Has effective instruments for researching the market and analyzing the investor’s portfolio.
- No Brokerage Fees: This reduces the additional costs to clients that arise with engaging intermediate brokers.
Cons:
- Limited Access to International Markets: The company works exclusively with the Australian and United States markets. Very few other foreign exchanges operate.
- Histo-Tech Platform is Cheap: Some extended trading tools and appearance customization are absent in actual stock.
- Trading Payment Application is Not Available: This mobile application is not as robust as it should have been compared to its competitors.
- Limited to Few Asset Types: This platform offers fewer asset classes, such as purchasing cryptocurrencies and trading in the commodities market, than other platforms.
4.NABtrade
NABtrade has established itself as a leading platform among many investors for trading stocks in Australia, enabling users to access their NAB’s banking
features while providing numerous research options. It affords adequate investor education resources and advanced features in the process of trading.
Thus, NABtrade’s quality platform and adequate supporting features can meet the trading needs of both beginner and advanced investors.
Pros And Cons Of NABtrade
Pros:
- Integrated Banking Services: Easy transfer of funds linked to NAB banking accounts.
- Extensive Research Tools: Offers tools for executing trades and all necessary research on equities and subsequent analysis.
- Educational Resources: Educational materials posing all sorts of questions, including the reason for investing, are available.
Cons:
- Higher Fees: Tends to have higher trading levels for some accounts than some low-cost brokers.
- Complex Platform: The structure of the particular platform may be a hassle to first-time users as it requires time to learn.
- Limited International Access: There is less concentration on global exchanges, with Australian markets targeted more.
5. Webull
Webull is an excellent application for purchasing shares in Australia. It charges no brokerage fees and has many features for professional traders.
The mobile app enables trading and access to the market in real-time. Webull also has some relatively advanced charting and research tools.
These are essential for any trader looking for an affordable, feature-rich trading application.
Pros And Cons Of Webull
Pros:
- No Commission on Trades: Provoоes zero commission charges against brokers, stocks, etc.
- Professional Tools: There are potent instruments for trade and functionality with the assistance of graphs.
- Instant News Feed: Streaming live data market updates and specialized news works.
- Easy to Navigate Application: A well-designed mobile trading platform for effective operations also exists.
Cons:
- Very Few Global Markets Accessible: It focuses on US-based markets with little global reach.
- Elementary Research Tools: Among many reasons are less typical research and resources and their insight capability.
- Cryptos Not Available in All Regions: This may not be enabled for purchase in certain regions.
- Gone Are The Premises and These Often Limitations: Resources, particularly for textual support, are absent as there are no such supporting structures, which might be a detriment to some users.
6. Vantage Markets
Vantage Markets is a leading application for stock purchase in Australia, and it particularly stands out because of its wide range of tradeable instruments and competitive spreads.
Its strengths remain in forex trading, as it offers a lot of leverage and is thus suitable for only advanced traders.
The platform’s navigation and the speed at which trades are placed add value to the trading experience.
Pros And Cons Of Vantage Markets
Pros:
- Narrow Spreads: It reports low spreads on most trading instruments, especially major forex currencies, increasing profitability.
- High leverage Amenity: Provides every user with the option of accessing high leverage, which gives room for enhanced trading activity and, therefore, returns.
- Storey Assessment Types Available: Offers various fund types to suit the appetite of different users and investors.
- Specialization in Forex Trading: This firm focuses strongly on forex trading and offers various currency pairs.
Cons:
- Lacks Full-service Stock Trade: Concentrates majorly on forex, lacks stock trading services, or has few stock trading options.
- Complicated Platform: Due to the numerous features in the platform, beginners may find it quite tricky as they will face a learning curve.
- Certain Services Packs Overly High Costs: Some paintings, such as withdrawal, may cost more than expected.
7. Axi
Axi is a decent application for investing in shares in Australia, but addiction is also advanced in forex trading and high leverage.
The platform is sophisticated and offers advanced trading instruments and arms to the trading platform, which veterans can thus use.
Smooth execution of actions and narrow spreads enrich the Company’s investors with positive trading experience.
Pros And Cons: Axi
Pros:
- Forex Trading Strength: Axi has a commendable capability for forex trading, having numerous currency pairs with great spreads.
- Trustworthy Features: Popular systems such as MetaTrader 4 and 5 are supported, enhancing traders’ efficiency.
- High Leverage Available: High leverage options allow traders to open more prominent positions with low initial deposits.
- Low Total Minimum Deposit Required: You must look for a very low total minimum deposit in order to start trading.
Cons:
- Limited Choice of Assets: A smaller array of other asset classes, such as stocks or cryptocurrencies, such as forex.
- No Trading Platform of Their Own: This broker does not have a platform that fetters some users into the shelter of their predetermined preferences.
- Fees on Withdrawals: Withdrawals may attract some costs which affect the total cost of trading activities.
- Elementary Level of Education Providers Instructions: Such information is scanty and low-quality compared to several other rivals.
8. Trade Nation
Trade Nation is a popular app for investing in shares in Australia. It features low commission fees and an easy-to-use interface.
The mobile app is very intuitive and designed for trading foreign currency. Due to its simple pricing model and practical support, Trade Nation is a good choice for novice and experienced users.
Pros And Cons Of Trade Nation
Pros:
- Affordability of costs: Low fees for trading and offers a cost-effective pricing system.
- Customer Support is Reliable and Quick: Customers offer responsive and efficient support.
- Forex Oriented: Has a strong forex focus and provides a wide range of currency pairs.
Cons:
- Assets are few: Forex brokers have a narrower range of assets than forex brokers, for example, stocks or cryptocurrency.
- Research Facilities are Quite Simple: Has less sophisticated research and analysis tools.
- No Real-Time Charts Available: There are no advanced charting and technical features.
- No mobile application is available: As there is no dedicated mobile trading application, trading on the move is limited.
9. Pepperstone
In Australia, the Pepperstone app is one of the most popular for purchasing shares, thanks to low spreads and high order execution speeds.
The company offers multiple trading platforms, including MetaTrader 4 and 5.
It suits all investors who want a safe and reliable trading environment with good security and customer support.
Pros And Cons Of Pepperstone
Pros:
- Low Spreads: Provides beautiful spreads on most currency pairs, primarily the majors.
- Fast Execution: Provides quick order execution, much needed for scalpers.
- Wide Range of Platforms: Different trading platforms such as MetaTrader 4, MetaTrader 5 and cTrader are used.
- Strong Security Measures: Effective measures are applied to safeguard users’ information and deposits.
Cons:
- Limited Cryptocurrency Options: It doesn’t provide as many cryptocurrency trading options as other brokers.
- No Inbloc KNSR: No internal research is undertaken; all analyses are prepared externally.
- High Inactivity Fees: Attempts to discourage dormant accounts by charging inactivity fees.
- No Physical Offices: There are no physical offices where customers can get assistance or consultations. However, many trading staff are based in London and can be contacted by e-mail.
10. Interactive Brokers
Interactive Brokers is among the foremost places to buy shares in available apps in Australia. It provides access to international markets and has everything necessary for advanced trading.
Known for its cheap structure and many investment suggestions, it attracts ordinary and professional investors.
The platform’s capability of providing high security and fast execution places it among the best of such platforms.
Pros And Cons Of Interactive Brokers
Pros:
- Global market access: Available on various countries and markets’ stock exchanges.
- Low-cost structure: It is cost-effective, has reasonable trading commissions, and has low trading costs.
- Advanced trading tools: Provides advanced and technically equipped trading platforms.
- Diversity of asset classes offered: Includes financial instruments, stocks, options, futures, forex trading, and more.
Cons:
- Complicated interface: Due to its many features and complexities, this may be good for advanced users but not beginners.
- High minimum deposit required: Requires a more significant deposit than most other brokers.
- There is not much assistance from customer service. It does not intensely focus on personal attention to customers and assists online rather than in person.
- Inactivity fees: A fee for lack of activity on an account if computing the activity doesn’t meet the set standards.
How do We Pick the Best Apps To Buy Shares in Australia?
User Experience: Easy and quick interface for subsequent trading.
Price and Commissions: Fees are as low as possible to ensure reasonable trade profits.
Investment Variety: A good number of shares, ETFs and other types of securities.
Research and Tools: In-depth studies and strategies are in place for all aspects of the investments.
Support: Good customer support to sort out issues as they arise and quickly.
Safety: Adequate security focused on protecting customers’ confidentiality and financial integrity.
Conclusion
The proper application to purchase shares in Australia will depend on your trading preferences and requirements.
Do not forget to check fees, features, and user-friendliness. Each of these platforms – eToro, CMC Markets and SelfWealth
Each has its fair share of benefits that you should examine to determine which is ideal for your investing requirements.
