Top 7 best investment & stock trading apps in Australia in 2024

We asked a panel of Invezz investing experts to rate and review the best investment apps in Australia. Compare their best features and find out which app came out on top.
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Updated: Apr 23, 2024
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Retail investing apps have soared in popularity over the last couple of years. More investments are made on mobile phones than ever before and the process is easier than ever as well.

Our team of finance & trading experts research and test the best investment apps in Australia, rating, ranking and comparing the results in order to guide you towards finding your perfect investment app.

Best investment apps Australia overall for 2024

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  1. eToro: Best for beginners, copy-trading & demo-account
  2. Plus500: Best for international CFD trading*
  3. Eightcap: Best online broker for choice of trading platform
  4. IG Markets: Best for trusted and transparent CFD trading
  5. AvaTrade: Best regulated broker for secure trading

What is the best stock trading app in Australia?

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These are our experts’ picks for the best investing apps in Australia today. Use the links to sign up straight away, or keep reading for more mobile trading app recommendations that are tailored to different investing styles.

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1
Min. Deposit
$ 100
Best offer
User Score
9.9
Invest/buy real stocks and ETFs with 0% commission fees
Invest for dividends and get payout on stocks on Ex-Dividend day
Over 11 payment methods, including PayPal
Start Trading
Payment Methods:
Debit Card, PayPal, neteller, Credit Card, Wire Transfer, WebMoney, Yandex, UnionPay, skrill
Full Regulations:
ASIC, CySEC, FCA

51% of retail CFD accounts lose money. Your capital is at risk.

2
Min. Deposit
$ 100
Best offer
User Score
9.9
Trade +2000 CFDs on Shares, Options, Commodities & more
Unlimited risk-free Demo Account
0 commissions & attractive spreads with up to 1:5 leverage
Start Trading
Payment Methods:
Bank Transfer, Debit Card, PayPal, Credit Card, Visa, Mastercard, American Express, Trustly, Apple Pay, Google Pay, Discover, Bank Transfer: SEPA, Bank Transfer: FPS, skrill
Full Regulations:
ASIC, FCA, FSA, MAS, CySEC #250/14

CFD service. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

3
Min. Deposit
$ 100
Best offer
User Score
9.7
Open an MT5 account to go long or short on 250 of the largest US, Australian, and European stocks
Instruments in 21 time-frames and 80 pre-installed indicators
Multi jurisdiction regulation by ASIC and VFSC
Start Trading
Payment Methods:
PayPal, neteller, Credit Card, Wire Transfer, Cryptocurrencies, skrill
Full Regulations:
ASIC, CySEC, FCA
74-89% of retail CFD accounts lose money

Top 7 Australian trading & investment apps, reviewed

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1. eToro. Best for beginners, copy-trading & demo-account

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0% commission

Fees

$100

Minimum deposit

4,000

No. assets

Yes

Demo/virtual account

Pros & Cons

Great for beginners, simple to set up and get started Competitive, industry-leading commissions Popular ‘Copy Portfolios’ function lets you follow top traders Excellent customer service, with live chat support provided
Comparatively high fees for withdrawals and account inactivity Does not integrate with the MetaTrader platform High spreads on some assets

Overview

We love eToro because it’s a great trading platform for beginners, with an interface that’s easy to use via app or desktop. A safe and trustworthy broker used by millions of traders worldwide, eToro boasts a zero-to-low fee structure that won’t gobble up your money in charges.

There are more than 5,000 crypto, stock, etf, forex, and commodity assets available to trade on eToro. You can dive straight in to trade or dip your toe in gently with one of the best demo accounts in the business. We like to switch to virtual mode and use its unique CopyTrader feature to get trade ideas, test out strategies, and learn from the pros.

The fees: All stock and ETF trading is commission fee. All crypto trades are charged a 1% fee. Currency spreads are 1 pip, for commodities it’s 2 pips. Stock CFDs have a 0.15% spread. All deposits are free, withdrawals cost $5. There’s an inactivity fee of $10 per month that kicks in if you don’t log in to your account for 12 months.

Highlights

Visit eToro eToro Review

eToro Service ARSN 637 489 466. AFSL 491139. Capital at risk. See PDS and TMD.

2. Plus500. Best for international CFD trading*

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From 0.08%

Fees

$100

Minimum deposit

3,000

No. assets

Yes

Demo/virtual account

Pros & Cons

Free demo account for every user Secure broker, licensed by top-tier regulators Wide variety of CFDs to trade Several good risk management tools
No support on trading information and education Website isn’t brilliantly designed to help users find answers to their questions No MetaTrader trading platform compatibility

Overview

We love Plus500 because it is one of the industry’s most transparent and reliable brokers. Its fees are clear and you’ll know exactly what you will be paying before you make a trade. Its technology driven platform gives access to over 2800 instruments, including CFDs on stocks, forex, commodities, and cryptocurrencies among several others.

Plus500 has something for all types of traders, no matter what level of experience. It’s zero commission and tight spreads make it a top choice for day traders and its trading academy is packed with educational content, perfect for beginners just starting. 

For accurate instrument availability, visit plus500.com.

The fees: There are no commission fees on any trades with Plus500 and it makes it money through the Bid/Ask spread. Spread starts from 0.01% or 0.9 pips and varies depending on the instrument. Additional fees include overnight funding which is dependant on trade size and guaranteed stop orders, which add a minimum of 10% to the spread. There is an inactivity charge of £10 per month for accounts not logged in for three months. 

*Based on a comparison of 60+ leading brokers and trading platforms.

Highlights

Visit Plus500 Plus500 Review

CFD service. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

3. Eightcap. Best online broker for choice of trading platform

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Up to $3.5 RT

Fees

$100

Minimum deposit

800

No. assets

Yes

Demo/virtual account

Pros & Cons

Low trading fees for CFDs Trade directly from the TradingView platform Regulated by top-tier authorities Leverage up to 1:500 Partnered with multiple proprietary trading firms
Some markets are not available to all regions Customer support does not operate 24/7

Overview

We love Eightcap because you have several trading platforms to choose from. You can choose between MetaTrader 4, MetaTrader 5, and TradingView. All of these platforms are favourites among retail traders. With the MetaTrade suite of platforms, you can access lots of technical indicators, custom tools, and expert advisors. 

TradingView with Eightcap allows you to trade directly from your charts while accessing the hundreds of tools and features available. Eightcap has over 900 markets available including stocks, forex, indices, commodities, and cryptocurrencies. 

The fees: Eightcap is a CFD broker and charges spreads, commissions, or a combination of both. There are two account types available, RAW, and Standard. The RAW account has ultra-low spreads starting from 0.0 pips but charges $3.5 RT per lot. The standard account is commission-free for most assets and spreads start from 1 pip.

Highlights

Visit Eightcap Eightcap Review
74-89% of retail CFD accounts lose money

4. IG Markets: Best for trusted and transparent CFD trading

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...

Fees

...

Minimum deposit

...

No. assets

No

Demo/virtual account

Pros & Cons

Intuitive web trading platform Excellent demo account available Variety of deposit and withdrawal options Wide variety of useful educational tools Trading platform tutorial to get you started
High fees for CFD trading Slow account opening process Limited product portfolio

Overview

We love IG because it’s one of the most established and reputable names in the online trading industry, known for its reliability, comprehensive market offerings, and strong regulatory compliance. IG offers CFD trading in stocks, forex, commodities, indices, ETFs and more, with plenty of useful plugins and integrations to improve the trading experience.

One of the key strengths of IG Markets is its seamless integration with MetaTrader 4 (MT4), a popular third-party trading platform favored by many traders for its advanced charting tools, automated trading capabilities, and custom indicators. This integration allows users to leverage MT4’s sophisticated features while benefiting from IG Markets’ competitive pricing, reliable execution, and extensive market access.

Beyond its product range and platform integrations, IG Markets stands out for its commitment to education and customer support. The company offers a wealth of educational resources, such as webinars, tutorials, and market analysis, which help traders of all levels improve their knowledge and skills.

The fees: For most assets, you don’t pay a trading fee but will be charged through the spread instead. That’s the difference between the buy and sell price of an asset. IG’s spreads are competitive but variable: you’ll pay a smaller spread on popular assets compared to less popular ones. Share trading works differently, and you’ll be charged a minimum fee on each trade of at least $15.

Highlights

Visit IG Markets IG Markets Review

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

5. AvaTrade. Best regulated broker for secure trading

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From 0.13%

Fees

$100

Minimum deposit

1,000

No. assets

Yes

Demo/virtual account

Pros & Cons

Trade 1000+ CFDs with competitive spreads Regulated by Tier 1 financial bodies across the world Consistently highly rated trading platform on web and mobile Offers social trading through its proprietary AvaSocial platform
Spreads are competitive without being industry-leading Some assets are only available to trade through the MetaTrader software

Overview

We love AvaTrade because it offers powerful trading software to anyone who wants to trade professionally. AvaTrade is a CFD broker where you can trade more than 800 markets, including forex, stocks, commodities, indices, ETFs, bonds, and cryptocurrency.  

AvaTrade integrates with trading software like MetaTrader 4 and 5 and boasts its own bespoke and award-winning mobile app software, AvaTradeGo. AvaTrade has been around since 2006 and is extensively regulated in Europe, Australia, Japan, British Virgin Islands, UAE, and South Africa.

The fees: There is no commission on any trading. AvaTrade makes money from the Bid/Ask spread instead. Stock spreads start from 0.13 and forex spreads start at 0.7 pips. Positions left overnight are charged a swap fee that varies depending on size. An inactivity fee of £50 per month is applicable if you don’t log in to your account for three consecutive months. 

Highlights

Visit AvaTrade AvaTrade Review
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

6. Pepperstone. Best low spread & no commission broker

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pepperstone logo

0.20%

Fees

...

Minimum deposit

1,000

No. assets

Yes

Demo/virtual account

Pros & Cons

Zero commission on trades Hedging, scalping, and crypto CFD trading available Lots of deposit and withdrawal options, including PayPal
No guaranteed negative balance protection in some jurisdictions No option to purchase stocks or bonds directly, only CFDs and spread betting available

Overview

We love Pepperstone because it’s a CFD broker with top tier regulatory protection. It’s regulated by the FCA in the UK and ASIC in Australia, two of the most respected financial bodies. You can safely trade 1200+ currency, stock, and commodity CFDs on Pepperstone.

Pepperstone’s high level of security makes it a good option for beginners, as does the fact it provides webinars to help you learn from the experts. For more experienced traders, you can access up to 30:1 leverage (500:1 for professionals) and integrate your trading account with four leading software platforms, including MetaTrader 4 and 5.

The fees: Forex trades are commission free, as Pepperstone makes money from the Bid/Ask spread. The spreads vary depending on the asset you want to trade. Razor (pro) account customers get significant discounts on the spreads. US stock trades are charged a $0.02 commission, for other stocks the commission starts at 0.07%.

Highlights

Visit Pepperstone Pepperstone Review

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81.7%of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. Refer to our RDN and other legal documents. Pepperstone Markets Limited, SCB no. SIAF217.

7. FP Markets. Best for low spread & 0-pip trading

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fp markets logo

...

Fees

...

Minimum deposit

...

No. assets

No

Demo/virtual account

Pros & Cons

Trade 10,000+ CFDs across multiple asset classes Highly regulated and reliable platform Copy and social trading features
Not available in the US, Japan & New Zealand IRESS platform is expensive

Overview

We love FP Markets because it uses cutting-edge technology to ensure all trades are executed at lightning fast speed. It’s an award-winning broker and offers over 1000 CFDs on forex, stocks, commodities, and indices.

FP Markets has zero restrictions and allows all trading styles, including scalping and running expert advisors. It integrates with the popular MetaTrader 4 platform and has its own technology-driven charting package. For beginners, FP Markets offers a free copy trading service where you can mirror profitable users’ trades directly in your own account. 

The fees:  FP Markets’ fees are determined by your account type. Its standard account has zero commission for all markets other than stocks, which start at 0.05% per side. Standard accounts are charged the Bid/Ask spread which starts at 1.3 pips. Raw accounts have a commission of $3 per side for forex and metals. Stocks start at $2 per transaction.  

Highlights

Visit Review
CFDs are derivatives and can be risky; losses can exceed your initial payment and you must be able to meet all margin calls as soon as they are made. When trading CFDs you do not own or have any rights to the CFDs underlying assets.

What is an investment app?

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It is an application that allows you to manage your investment portfolio on a mobile device. These apps are offered by almost every share trading platform in Australia. When using an investing app, you will usually be able to carry out the same functions as a web or desktop based platform. 

The different types of investment apps in Australia

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Investment apps come in all shapes and sizes, although they generally fall into two categories; DIY or Robo-advisor. DIY investment or stock trading apps give full control to the user. Robo-advisor apps take a different approach and use technology to invest automatically on your behalf. Here is a brief description of the most common trading apps in Australia and what they offer.

  • DIY trading apps. These types of apps give you full control over your portfolio. They’re generally targeted towards frequent traders or Australian investors who want to pick their own stocks. These stock trading apps let you invest how and when you want. DIY investment apps are the easiest way to manage your investment account while using your expertise to make decisions. 
  • Robo advisors. The best robo-advisors in Australia use software and AI to make investments automatically for you based on your answers to a series of questions. After depositing money, you’ll need to complete a questionnaire to determine your goals, and then the app creates investment portfolios that work for you.
  • Micro investing apps. Micro investing apps allow you to save and invest your pennies. Micro investing apps are similar to robo-advisors and everything can be automated. They work by investing small amounts of money (usually rounding up your everyday spending) into low cost stocks and ETFs.
  • Portfolio managers. These are apps that track your overall investment performance. You connect the app to your other investment accounts and it shows your profit and loss record across all your desktop and mobile trading apps in one place. If you use multiple investment apps, then controlling it all through a portfolio manager is a good idea.

How should I choose an investment app?

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Every user will have a slightly different list of priorities when it comes to choosing an investing app from Australia, although low fees and reliability are usually high on the list. Below we’ve highlighted some of the key features to consider when choosing an investing app. 

  • Fees. When it comes to investing, trading fees are unavoidable and something that needs to be taken into account. Some brokers charge commissions on every transaction. You’ll also pay a spread in AUD (the difference between the buy and sell price). Finding an investing app with low fees can help reduce your investment costs. 
  • Reliability. These days mobile applications offer a seamless experience although some are better than others. If you’re planning to use an app to make investments then you’ll want to make sure it’s reliable. When downloading an investing app you can check out reviews on things like the Apple App Store or Google Play store. 
  • Assets. The best investing & trading apps give users access to a wide range of financial instruments. Some apps are geared towards only one of two assets, while others cover as many as they can. While almost every app will allow you to trade Australian shares, but things like cryptocurrency investing have risen in popularity in recent times and lots of apps now let you buy and sell coins as well.
  • Security. Trading apps in Australia all have different levels of security, although the best ones offer extra features to make sure your funds are secure. When choosing an app, finding one which offers 2 factor authentication is a good way to boost your security. The best apps also have fingerprint and facial recognition unlocking features. 
  • Web and desktop platforms. Sometimes your mobile app may go down, or you could lose your device. If this ever happens you’ll need to make sure you have a way to access your account. A good web or desktop platform will make this easier, so finding an investment broker with good online services is helpful. 
  • Operating system. The best investment apps for iOS and Android phones might be different. Check you can download the app through the App or Play Store before you sign up, and make sure all the features are available on the system you want to use.

Should I use an investment app from Australia?

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Yes, it’s a good idea to use an investing app. Apps make it easy to manage your investment portfolio when not at your desktop. Most people use a smartphone or tablet these days and downloading an investing app can save a lot of time when buying and selling financial instruments. Apps also give constant access to your investments and the ability to make changes very quickly. 

Are investment apps safe?

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Yes, they generally are, although it is important to remember that you can still lose money while investing. Apps from a regulated share trading platform that is licensed by the Australian Securities & Investments Commission (ASIC) are considered the safest. Users are better protected through compensation schemes which provide a safety net if an app goes out of business. 

Most investment apps belong to well known brokerage firms or robo-advisor services that have been in operation for many years. The financial industry is heavily regulated and shady business practices are difficult to pass these days. Investment apps are, for the most part, safe.

What are the risks of using a share trading app in Australia?

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With any investment there is the risk of losing money. That’s why the golden rule is to never invest more than you can afford to lose; you can never predict exactly how a stock will perform and there are lots of factors outside of your control.

Online trading apps or their mobile equivalent can be risky because they’re so easy to use. When you can invest in Australian stocks instantly, wherever you are, it encourages you to make quick decisions without taking the time to research first.

It pays to set some strict guidelines that any stock must hit before you invest in it, so that you make decisions with a clear head rather than emotionally. Use the list of quick benefits and risks below to help you decide if an investment app is for you.

Benefits

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  • Easy access to your investment portfolio even when on the go
  • The ability to buy and sell thousands of assets from a smartphone or tablet
  • The latest market information at your fingertips
  • Most apps have the same features as desktop or web based platforms. 
  • Investment apps are free to download and use

Risks

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What are the fees for Australian investment & stock trading apps?

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It is usually free to download an investment app. The cost for using one depends on what type of app it is. Stock trading apps in Australia either charge a fixed commission per trade, or through the spread (the difference between the buy and sell price of an asset).

Other types of Australian investing app, particularly robo advisors or micro investing apps that invest in exchange traded funds (ETFs), may charge a monthly subscription fee or an annual management fee as a percentage of the amount of money you invest.

Choose an app now

Methodology: How did we choose the best trading apps in Australia?

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Helping people make better financial decisions is at the heart of our mission at Invezz. 

We periodically test more than 69 stock trading apps to provide our users with clear, accessible guidance on the investing options available. All testing is carried out by our panel of industry experts, analysts, and active traders who sign up to each app, conduct research, and score each investment service.

Our tests are designed to find Australian investing apps that offer a beginner-friendly, secure investing experience at a fair price. To supplement our practical testing and experience, we research each mobile app to gather any further relevant information. We read online customer reviews, app reviews on the Play Store and App Store, and conduct user surveys to get feedback from real people about what works, and what doesn’t.

Each Australian app is awarded a final score based on 130+ data points across 8 ranking categories: cost, reliability, user experience, deposit & withdrawals, investing options, range of products/markets, research & analysis tools, and the availability of educational & learning resources.

We work closely with individual apps to ensure all factual information displayed here is accurate. All data is then fact-checked by an independent reviewer. You can learn more about our expert panel and how we test, rate, and review platforms in our review process.

FAQs

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What is the best investment app in Australia?
Can I invest in crypto on an investment app from Australia?
Do Australian investment apps offer copy features?
Are investment apps in Australia free?
Are Australian investment apps fast?
Is eToro the best investment app for beginners in Australia?
Can I have more than one investment app in Australia?


Sources & references
Risk disclaimer
James Knight
Editor of Education

James is the Editor of Education for Invezz, where he covers topics from across the financial world, from the stock market, to cryptocurrency, to macroeconomic markets.... read more.