Best Stock Brokers in Australia: Top 10 (2025)

Over the past few years, Australia has witnessed a significant surge in online brokerage services, transforming how individuals engage with financial markets. This growth is largely driven by younger investors, particularly those aged 18-24, entering the market in unprecedented numbers. Unlike traditional banks, which offer a broad spectrum of financial services, online brokers specialize in providing direct access to trading platforms, often at a lower cost and with enhanced technological features.

Currently, there are approximately 40 online trading platforms operating in Australia, with over a quarter launching in just the past three years.

To assist you in navigating this expanding landscape, our team of experts has conducted a comprehensive and independent analysis of these platforms to present you with a detailed comparison.

Broker Definition: What is a Broker?

A broker is a financial intermediary that provides individuals and institutions with access to financial markets, allowing them to trade various assets such as stocks, forex, commodities, and cryptocurrencies. Unlike traditional banks, brokers specialize in investment and trading services, often offering advanced trading platforms, lower fees, and direct access to global markets.

Brokers provide more flexibility and control over investments, making them ideal for active traders and investors looking for cost-effective and technologically advanced solutions.

What Are the Different Types of Brokers?

In Australia, brokers can be classified into different types based on how they execute trades and serve their clients. The choice of broker depends on the trader’s experience level, investment goals, and preferred markets.

Each type of broker has its advantages and is best suited for specific trading strategies and investment needs. Understanding these differences helps traders choose the most appropriate broker for their financial goals.

Best Online Brokers

Choosing the best online broker depends on several factors, including the market you wish to trade, your trading experience, and the platforms and tools that suit your strategy. Some brokers specialize in forex trading, while others offer a wide range of assets, such as stocks, ETFs, and CFDs. Below, we review the top brokers based on different investment categories and trading experience levels.

Best Broker by Asset Type

Best Forex Brokers

Forex trading requires tight spreads, high liquidity, and access to a wide range of currency pairs. The best forex brokers should offer:

• Low spreads and commissions, ideally under 1 pip for major pairs.
• A variety of currency pairs, including majors, minors, and exotics.
• High leverage options, often up to 30:1 for retail traders in Australia.
• Fast execution speeds, essential for scalping and day trading strategies.
• Advanced trading platforms, such as MetaTrader 4 (MT4) and MetaTrader 5 (MT5).

Best CFD Brokers

Contracts for Difference (CFDs) allow traders to speculate on price movements without owning the underlying asset. The best CFD brokers should offer:

• A broad range of CFDs, including stocks, commodities, indices, and forex.
• Competitive spreads and low swap fees, minimizing trading costs.
• Risk management tools, such as negative balance protection.
• A user-friendly trading platform, with charting tools and real-time data.
• Regulatory compliance, ensuring transparency and investor protection.

Best ETF Brokers

ETFs (Exchange-Traded Funds) are ideal for passive investors and long-term traders. The best ETF brokers should provide:

• Access to a diverse selection of ETFs, covering global markets and sectors.
• Low or no brokerage fees, making long-term investing more cost-effective.
• Fractional investing, allowing investors to buy small portions of expensive ETFs.
• Integration with fundamental analysis tools, for in-depth research.
• Reliable customer support, ensuring assistance for long-term investors.

Best Stock Brokers

Stock trading requires access to global markets, competitive fees, and comprehensive research tools. The best stock brokers should offer:

• Direct access to major stock exchanges, such as ASX, NYSE, and NASDAQ.
• Low brokerage fees, particularly for frequent traders.
• Fractional share investing, allowing traders to invest in high-priced stocks with smaller amounts.
• Detailed stock research tools, including technical and fundamental analysis.
• Strong regulatory backing, ensuring a secure trading environment.

Best Broker by Trading Experience

Best Broker for Beginners

New traders need a simple, easy-to-use platform with educational resources. The best broker for beginners should provide:

• An intuitive trading platform, with a clean and user-friendly interface.
• A free demo account, allowing traders to practice before investing real money.
• Low fees and minimal deposit requirements, reducing barriers to entry.
• Comprehensive educational materials, such as webinars, articles, and tutorials.
• Responsive customer support, available via chat, email, or phone.

Best Broker for Experienced Traders

Advanced traders require tight spreads, fast execution, and high-level trading tools. The best broker for experienced traders should offer:

• ECN/STP execution, providing direct market access with low spreads.
• Advanced charting tools and indicators, supporting technical analysis.
• Algorithmic trading and API integration, enabling automated strategies.
• Multiple trading platforms, including MT4, MT5, and cTrader.
• Access to multiple asset classes, such as forex, stocks, and commodities.

Selecting the right broker based on asset type and experience level can help traders maximize their potential and trading efficiency.

Best Broker by Trading Platform

Best Broker with MT4 or MT5

MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are among the most popular trading platforms, known for their advanced charting tools, algorithmic trading capabilities, and robust execution. The best broker offering MT4/MT5 should provide:

• Fast execution speeds and low spreads, ideal for active traders.
• Support for algorithmic trading, including Expert Advisors (EAs) for automated strategies.
• Comprehensive technical indicators and charting tools, suitable for in-depth market analysis.
• Multi-device compatibility, allowing trading from desktop, mobile, and web.
• Strong regulatory oversight, ensuring a secure trading environment.

Best Broker with TradingView

TradingView is a powerful, web-based trading platform known for its superior charting capabilities and social trading features. The best broker with TradingView should offer:

• Full integration with TradingView, allowing traders to execute trades directly from charts.
• Access to over 100 technical indicators, enabling detailed market analysis.
• Custom scripting with Pine Script, supporting automated strategies.
• A strong community and social trading features, enabling traders to share insights.
• Multi-device accessibility, ensuring seamless trading across different platforms.

Best Broker by Trading Strategy

Best Broker for Scalping

Scalping requires high-speed execution, minimal spreads, and a reliable trading infrastructure. The best broker for scalping should offer:

• Ultra-low spreads (0.0–0.2 pips) and minimal commissions.
• Lightning-fast execution speeds, with minimal slippage.
• Direct market access (ECN/STP model), ensuring deep liquidity.
• Support for automated trading, including scalping bots and API integration.
• A highly regulated trading environment, ensuring transparency.

Best Broker for Swing Trading

Swing traders hold positions for several days or weeks, requiring strong technical tools and low carrying costs. The best broker for swing trading should provide:

• Low overnight swap rates, minimizing holding costs.
• Access to a diverse range of assets, including forex, stocks, and commodities.
• Advanced technical and fundamental analysis tools, for identifying medium-term trends.
• Reliable market news and research, supporting data-driven decisions.
• Flexible trading platforms, including desktop, mobile, and web versions.

Best Broker for Day Trading

Day traders require low-cost trading, instant execution, and access to multiple markets. The best broker for day trading should offer:

• Extremely low spreads and commission fees, reducing trading costs.
• High-speed order execution, ensuring minimal delays.
• A wide range of tradeable assets, including forex, stocks, indices, and crypto.
• Advanced risk management tools, such as stop-loss and take-profit orders.
• Support for high-volume trading, with no restrictions on order frequency.

Choosing the right broker based on your trading platform and strategy ensures a smoother and more profitable trading experience.

What Else Should You Consider When Choosing an Online Broker?

Selecting the best online broker is not only about fees, platforms, or asset variety. Other essential factors include regulatory compliance, asset availability, customer support, and risk management tools. Below, we cover critical considerations to ensure a safe and efficient trading experience.

Broker Regulation

Choosing a regulated and trustworthy broker is crucial to protect your funds and ensure fair trading practices. In Australia, brokers must be licensed by the Australian Securities and Investments Commission (ASIC), which enforces strict financial guidelines and investor protections.

Trusted Regulatory Authorities for Australian Traders

• Australian Securities and Investments Commission (ASIC, Australia) – The primary financial regulator overseeing brokers operating in Australia.
• Financial Conduct Authority (FCA, UK) – A respected global regulator ensuring fair trading practices.
• European Securities and Markets Authority (ESMA, EU) – Regulates European brokers under the MiFID II framework.
• Cyprus Securities and Exchange Commission (CySEC, Cyprus) – Oversees many international brokers operating in Europe.
• Commodity Futures Trading Commission (CFTC, USA) & National Futures Association (NFA, USA) – Regulates derivatives and forex markets in the U.S.
• Financial Sector Conduct Authority (FSCA, South Africa) – Provides oversight for brokers operating in the African region.

Ensuring your broker is regulated by ASIC or another reputable body reduces the risk of fraud and guarantees compliance with financial protection measures.

Assets Available for Trading with an Online Broker

Brokers offer access to various asset classes, enabling traders to diversify their portfolios and implement different strategies. Below is an overview of common assets available to Australian traders.

Choosing a broker that offers a diverse range of assets allows traders to explore different markets and optimize their trading strategies.

Types of Trading Accounts

Brokers offer different types of trading accounts tailored to the needs of various traders. Below are the most common account types:

• Standard Account – The most common type, suitable for most retail traders with standard spreads and fees.
• Professional Account – Offers higher leverage and lower spreads but requires proof of trading experience.
• Demo Account – A risk-free account with virtual funds for practice trading.
• Islamic Account – Swap-free accounts complying with Sharia law, where no interest fees are charged for overnight positions.
• VIP/Premium Account – Offers lower fees, tighter spreads, and dedicated account management for high-volume traders.
• Cent/Micro Account – Allows trading with smaller position sizes, suitable for beginners or those testing strategies.
• PAMM/MAM Account – Enables fund managers to trade on behalf of multiple investors.

Trading Platform Features

A good trading platform should provide features that enhance the trading experience. Here are some of the most important ones:

• Copy Trading – Allows traders to automatically copy the trades of experienced investors.
• Risk Management Tools – Stop-loss, take-profit, and negative balance protection.
• Trading Signals – Automated trade alerts based on technical and fundamental analysis.
• Automated Trading – Algorithmic trading using bots and Expert Advisors (EAs).
• Advanced Charting Tools – Indicators, trendlines, and price action analysis.
• Social Trading – Enables traders to interact, share strategies, and follow top traders.
• Economic Calendar & Market News – Provides real-time updates on economic events impacting the markets.
• Mobile & Multi-Platform Compatibility – Ensures seamless trading from desktop, web, and mobile devices.

Broker Fees, Spreads, and Commissions

Trading costs can significantly impact profitability, so it is essential to compare broker fees before signing up. Below are the most common charges traders should be aware of:

Explanation of Fees with Examples

• Spreads: If the EUR/USD spread is 1 pip (AUD 10 per lot) and a trader closes the position immediately, they lose this amount.
• Commissions: If a broker charges $7 per lot, and a trader opens a 2-lot position, they pay $14 in commissions.
• Swap Fees: Holding a 1-lot position on AUD/JPY overnight could result in a -$5 swap fee.
• Deposit/Withdrawal Fees: A $5,000 bank withdrawal might incur a $10 fee, depending on the broker.
• Inactivity Fees: If no trades are placed for six months, the broker might charge a $25 monthly fee.
• Currency Conversion Fees: Converting $10,000 AUD to USD could cost $100 if the broker charges a 1% fee.

How to Start Trading with an Online Broker?

Starting your trading journey with an online broker is a simple process that involves creating an account, depositing funds, executing trades, and withdrawing profits. Below is a step-by-step guide to help you get started.

1. Creating a Trading Account

Opening a trading account is fast and straightforward, especially with regulated brokers.

• Quick Registration – Sign up with basic details (name, email, phone number).
• Easy KYC (Know Your Customer) Verification – Upload a government-issued ID and proof of address (e.g., utility bill). Most brokers verify documents within 24 hours.

2. Depositing Funds

Once your account is verified, you can fund your trading account to start trading.

• Multiple Deposit Methods – Options include bank transfers, credit/debit cards, PayPal, Skrill, Neteller, and cryptocurrencies.
• Instant Deposits – Most brokers process deposits instantly for electronic payment methods.

3. Placing a Trade Order

Executing a trade involves a few simple steps:

• Select a Market – Choose an asset such as forex, stocks, indices, or cryptocurrencies.
• Analyze the Market – Use technical analysis (indicators, trends) or fundamental analysis (news, earnings reports).
• Choose Order Type – Market order (instant execution) or limit order (execution at a specific price).
• Set Trade Size – Determine the amount to invest, e.g., 1 lot, 100 shares, or $500 worth of an asset.
• Apply Risk Management – Use stop-loss and take-profit to manage risk and secure profits.
• Confirm the Trade – Click "Buy" or "Sell" to execute the order.
• Monitor and Close the Trade – Track your position and close it manually or automatically based on price movements.

4. Withdrawing Funds

Profits earned from trading can be withdrawn easily via the broker’s withdrawal process.

• Simple Withdrawal Process – Select a withdrawal method, enter the amount, and confirm the request.
• Fast Payouts – Bank transfers typically take 1–3 days, while e-wallets process withdrawals within a few hours.

Example of a Trade with an Online Broker

Let’s consider an example of a forex trade using the AUD/USD currency pair:

• A trader believes AUD/USD will rise from 0.7000 to 0.7100.
• They open a buy position (long) with $10,000 (1 mini lot) at 0.7000.
• When AUD/USD reaches 0.7100, the profit calculation is:(0.7100 - 0.7000) × 10,000 = $100 profit
• If the trader used a 10:1 leverage, their initial investment was only $1,000, resulting in a 10% return.

By choosing the right broker and implementing effective strategies, traders can optimize their trading experience and potential profits.

How Do Online Brokers Make Money?

Online brokers generate revenue through various mechanisms, depending on their business model. Below are the primary ways brokers earn money:

• Spreads – The difference between the bid (buy) and ask (sell) price of an asset. Market Maker brokers widen the spread to profit from trades.
• Commissions – Fixed fees per trade or a percentage of the transaction value, commonly applied by ECN brokers.
• Swap Fees (Overnight Financing) – Interest charges applied to positions held overnight, based on the interest rate differential between currency pairs.
• Deposit & Withdrawal Fees – Some brokers charge processing fees for funding and withdrawing from accounts.
• Inactivity Fees – Fees imposed if an account remains inactive for a specified period.
• Currency Conversion Fees – Charged when traders deal with assets in a currency different from their account's base currency.
• B-Book Model (Trading Against Clients) – Market Maker brokers may take the opposite side of client trades and profit when clients lose.
• Premium Services & Subscriptions – Some brokers offer paid research reports, advanced analytics tools, or VIP account benefits.
• Affiliate Programs & Partnerships – Brokers generate income by referring clients through affiliate programs and partnerships.

Regulated brokers must disclose their fee structures transparently, allowing traders to assess costs and choose the best platform for their needs.

Taxation on Income Generated from Trading with a Broker in Australia

In Australia, the taxation of trading income depends on whether you are classified as an investor or a professional trader.

Investor: If you buy and sell assets with the intention of long-term wealth accumulation, your profits are generally treated as capital gains. These gains are subject to Capital Gains Tax (CGT) and are only taxed when you sell the asset. If you hold the asset for more than 12 months before selling, you may qualify for a 50% CGT discount on the taxable gain. Capital losses can be used to offset capital gains but cannot be deducted from other income. 

Professional Trader: If your trading activity is frequent, systematic, and primarily aimed at generating income, you may be classified as a trader for tax purposes. In this case, your profits are treated as ordinary income and taxed at your marginal tax rate. Trading-related expenses and losses can be deducted from other taxable income in the same financial year. 

The key distinction between an investor and a trader is based on factors such as trading frequency, intent, and the level of organization in your trading activity. This classification significantly affects how your trading income is taxed.

To ensure compliance with Australian tax obligations and determine your correct tax status, it is advisable to consult a tax professional or contact the Australian Taxation Office (ATO).

All our guides to the best brokers in Australia

P. Laurore

Finance expert

Co-founder of HelloSafe and holder of a Master's degree in finance, Pauline has recognised expertise in personal finance, which she uses to help users better understand and optimise their financial choices. At HelloSafe, Pauline plays a key role in designing clear, educational content on savings, investments and personal finance. Passionate about financial education, Pauline strives, with every piece of content she oversees, to provide reliable, transparent and unbiased information for independent and informed financial management. To this end, she has tested over 100 trading platforms to help internet users make the right choices.