Best Stock Trading Apps in Australia November 2024

How To Get Started With Trading Apps

Getting started with trading apps is a simple process. First, you will need to research and choose a reputable broker that offers a trading app. This can be done by looking up reviews and testimonials from other users or consulting with a financial advisor. It’s important to choose a broker that is regulated by the Australian Securities and Investments Commission (ASIC) and has a good track record.

Once you have found a broker that you are comfortable with, you will need to sign up for an account and complete the necessary paperwork. This typically includes providing personal and financial information, such as your name, address, proof of identity, and tax file number. The process of account verification may take some time, depending on the broker and the level of account you wish to open.

After your account is set up, you will need to link it to your bank account and deposit funds. Most trading apps will allow you to deposit funds via credit/debit card, bank transfer, or electronic funds transfer. Some trading apps also allow you to deposit funds via PayPal, Apple Pay, or other electronic wallets. It’s important to keep in mind that some brokers may have minimum deposit requirements, and you may be charged a fee for depositing funds.

Once the funds are deposited in your account, you will be able to start trading. The trading process is usually straightforward, with most trading apps providing a user-friendly interface that allows you to place buy and sell orders, track your portfolio, and view real-time market data. 

Before you start trading, it’s important to have a clear understanding of the markets, the risks involved, and your own investment goals. Many trading apps offer educational resources such as tutorials, webinars, and guides to help you get started. Additionally, you can always seek advice from a financial advisor or professional trader if you have any concerns.

The process of getting started with trading apps is simple and straightforward, but it does require some research and preparation. Once your account is set up, you will be able to start trading and managing your portfolio with ease.

What Are The Best Trading Apps in Australia?

There are many trading apps available in Australia, but the following are considered to be among the best:

• CommSec: 
  

  CommSec is one of the most popular and widely used trading apps in Australia. The app offers a broad range of features and tools for both beginners and experienced traders, making it a great option for many investors.

  One of the key features of the app is its user-friendly interface. The app is easy to navigate and provides quick access to a wide range of markets, including the ASX, NYSE, and NASDAQ. This allows traders to place buy and sell orders smoothly, track their portfolios, and view real-time market data. 

  In addition to its user-friendly interface, CommSec also offers a range of research and educational resources. The app provides access to a broad selection of market research and data, including real-time market news and commentary, as well as various educational resources such as tutorials, webinars, and guides. This makes it a great option for those new to trading and investing.

  CommSec also offers advanced features such as charting tools, which allow traders to analyse market trends and make more informed decisions. Additionally, the app also offers a range of order types, including limit and stop-loss orders, which can help traders manage their risk more effectively.

  CommSec also offers a range of account types, including cash and margin accounts, and the app also allows you to trade on the go, from your mobile device. You can also use CommSecIRESS, which is a platform for professional traders and active investors. CommSec is a widely used and popular trading app in Australia, offering a vast range of features and tools for both beginners and experienced traders. 

• IG:
  

  IG is a leading global trading app that is popular in Australia. The app offers a wide range of markets and trading instruments, including forex, CFDs, and shares, making it a great option, particularly for experienced traders.

  One of the key features of the app is its advanced trading platform. The app offers a range of charting tools and live market data, which allows traders to analyse market trends and make more educated decisions. This makes it a great option for experienced traders who are looking for a more advanced trading experience.

  The app also offers a range of educational resources such as tutorials, webinars, and guides which can help traders to improve their knowledge and skills. IG provides great customer service that is available 24/7, which can help traders to resolve any issues they may have.

  One of the key benefits of using IG is that they are regulated by the Australian Securities and Investments Commission (ASIC) which means that they are a reputable and trustworthy broker. This can give traders peace of mind when it comes to their funds and personal information.

  IG is a great option for traders in Australia. The app’s advanced trading platform, a wide range of markets and instruments, and educational resources make it a great option for experienced traders.

• Westpac Online Investing:

  Westpac Online Investing is another popular trading app in Australia, offering a simple and user-friendly platform for trading shares. The app provides access to a wide range of markets, including the ASX, and offers a range of research and educational resources.

  One of the key advantages of Westpac Online Investing is its strong reputation and brand name. Westpac is one of the largest and most well-established banks in Australia, and its online investing platform is backed by the same level of security and financial stability as the bank. This can provide traders with the assurance that their funds and personal information are safe and secure.

  Additionally, as a Westpac customer, you have access to a range of other banking services that can be useful when it comes to managing your investments. For example, you can easily transfer funds between your trading account and your Westpac bank account, and you can also view your investment and banking details in one place using the Westpac Live Online Banking.

  Westpac Online Investing also allows you to access Westpac’s expert research, which can provide you with insights and recommendations on the markets, sectors and individual stocks. This gives traders an edge in making informed decisions.

  Another advantage is the low fees, Westpac Online Investing offers competitive brokerage fees and no monthly account-keeping fees. This means that you can save money on your trades and keep more of your profits.

  Finally, Westpac Online Investing offers a wide range of investment options, from shares to exchange-traded funds (ETFs), that allow you to diversify your portfolio and access to an array of opportunities. This can help you to spread risk and potentially achieve higher returns on your investment.

What Is The Best Trading App for Beginners?

There are several trading apps for beginners in Australia. One of the top-reviewed trading apps available in Australia is eToro. 

eToro: 

eToro’s multi-asset trading platform offers a wide range of markets, including stocks, ETFs, cryptos, and commodities. The app offers a user-friendly interface, making it easy for beginners to navigate and place trades.

One of the key advantages of eToro is its social trading feature, which allows traders to follow and copy the trades of other successful traders. This can be a great way for beginners to learn about different markets and strategies, without having to spend a lot of time researching and analysing the markets themselves. Additionally, eToro offers a wide range of educational resources that can help educate and guide beginners who are looking to get a foot in the door. 

Another advantage of eToro is that it is regulated by ASIC and offers a high level of security for traders’ funds and personal information. It also offers a free demo account, allowing users to practise trading in a risk-free environment. A demo account is a simulated trading account that allows users to practise trading in a risk-free environment. It is an excellent feature for beginners as it allows them to familiarise themselves with the trading platform and gain experience in making trades without risking any real money.

eToro is a great option for beginners in Australia. The app’s user-friendly interface, social trading feature, educational resources, and regulation by the ASIC make it a great choice for those new to trading. 

What Is The Best App for Trading Forex?

Forex trading is the buying and selling of currencies in the foreign exchange market. It is one of the most popular forms of trading in Australia and around the world, due to its high liquidity and 24-hour trading availability. Below we outline one of the best apps for trading Forex in Australia: 

Plus500: 

Plus500 is a leading online trading platform that offers a vast selection of markets, including forex, commodities, indices, and stocks. Plus500 offers a user-friendly platform that is easy to navigate and provides quick access to an array of markets.

One of the key advantages of Plus500 is its competitive trading fees. Plus500 charges a low fixed spread on all forex pairs which can be beneficial for traders who want to save money on their trades and keep more of their profits. Additionally, Plus500 has a wide selection of currency pairs available, which allows traders to diversify their portfolios and access a wide range of opportunities.

Another advantage of Plus500 is its large amount of advanced trading tools and features, which can be especially beneficial for beginners. The app offers a range of charting tools, indicators, and live market data that can help users analyse market trends and make more informed decisions. These tools can provide guidance and support for beginners who are new to forex trading and may not have a lot of experience. Additionally, these features can be great for helping beginners to develop and improve their trading strategies, and help them to navigate the markets more effectively.

Plus500 is also regulated by the Australian Securities and Investment Commission (ASIC) which means that traders can be sure that their funds and personal information are safe and secure. 

Trading App Fees:

Trading fees vary across different trading apps in Australia. It’s important to research and compare the fees of different apps before deciding which one to use.

It’s important to note that other fees may apply such as overnight fees and inactivity fees. It’s also important to note that the fees and information mentioned above are subject to change and it’s recommended to check the website of the broker for the latest fees.

Is It Safe to Use Stock Trading Apps?

Stock trading apps can be safe to use, as long as users choose a reputable and regulated broker. It’s important to research the broker’s track record, regulatory oversight, and security measures before signing up. Users should also ensure that the app has a secure encryption and other protective measures in place to safeguard personal and financial information. It’s also recommended to read the terms and conditions of the app, as well as the broker’s privacy policy. To ensure safety, it’s important to keep your login information and device secure, be aware of phishing scams, and monitor your account regularly.