Best Share Trading platforms

Getting this step right will save money on fees which can improve overall returns substantially over the course of your investing pursuit. Is your broker in the Best Share Trading Platforms Australia?

Best Share Trading Platforms Australia 2021:

  • Best Newest Platform: Pearler
  • Best Low-Cost Platform: Selfwealth
  • Best Research: Nabtrade
  • Best Bank: Commsec

Number 1: SelfWealth

SelfWealth Rating: 4/5 SelfWealth has an extremely good product for what is one of the lowest fees in the brokerage market. SelfWealth is safe, holding funds under an individual’s HIN number and CHESS Sponsored. SelfWealth has a good community and benchmarking of an individual’s portfolio against other users.

Positives

  • CHESS Sponsored
  • Low-Cost Trading from $9.50
  • Trading of US Shares
  • Easy Set-up
  • Large Community of Members

Neutral

  • FIRE Focused
  • Integrated Blogs
  • SelfWealth Portfolio
  • Benchmarking of Portfolio
  • Decent Mobile Application

Negatives

  • No Research Reports
  • Minimal Historical Data

SelfWealth is an easy-to-use share trading platform. SelfWeath has very low, flat fee trading at only $9.50 per trade. They also have some decent education and portfolio tracking tools.

Prophets Trusted Affiliate Partner

SelfWealth provides one of Australia’s best low-cost online brokerage platforms. The flat-fee brokerage is a massive cost saver over the life of anybody’s share trading or investing career. This fee is nearly half the price of most traditional bank platforms. Over the investing timeframe, this saving in brokerage can amount to 1000’s of dollars saved.

The platform is slightly let down by the fact that they have limited charting or historical fundamental data. This product is likely not suitable for high volume day trading and is targeted more at the buy and hold investor.

Brokerage Fee$9.50 Flat-fee
Mobile AppYes
Research AvailableSort Of
International Trading Select US Only

Number 2: Pearler

Pearler Rating: 4/5 Pearler has released a decent investment platform with excellent intentions. They are CHESS Sponsored and Low-cost. However, Pearler has a little way to go before delivering the same level of service as other top-tier brokers. They have limited research and their website is a little “bulky”.

Positives

  • CHESS Sponsored
  • Low-Cost Trading from $9.50
  • Free ETF Trading*
  • Easy Set-up

Neutral

  • AutoInvest and Autodeposit
  • FIRE Focused
  • Integrated Blogs
  • Pearler Portfolios

Negatives

  • Oversimplified Website
  • No International Shares
  • No Research Reports
  • No Mobile App

Pearler is a Low-cost brokerage with a focus on long-term responsible investing.

How is Pearler priced?
In terms of pricing, their fees are very simple – $9.50 flat-fee brokerage. It’s very easy to set up, taking less than 10 minutes to get going. They also offer incentives to get started today using our link.

They even offer FREE trading on 46 ETFs, which is a ground-breaking innovation for the investing community.

How does it work?

  • Create your Pearler account
  • Choose, where you want to invest. You can pick any AU (and soon US!) stocks and ETFs
  • Worry less, and automate your investments
  • Set a goal and track your progress towards your financial independence.

Pearler Offers: Autodeposit, Autoinvest, Goal tracking, Shareable portfolios

Check them out today:
Brokerage Fee$9.50 Flat-fee!
Brokerage FeeSelect Free ETFs
Mobile AppNo
Research AvailableNo
International Trading No

Number 3: Nabtrade

Positives

  • CHESS Sponsored
  • Tonnes of Research
  • Seemless International Trading

Neutral

  • Trading from $14.95
  • The App
  • IRESS Trading

Negatives

  • Customer Support Wait times
  • Their Blog articles and Podcasts seem to just encourage trading.

Nabtrade has the most competitive brokerage fees amongst the big 4 banks. Their trading platform and available resources are also excellent. Recently they have recreated their mobile app, which is now user-friendly. Their online website is also excellent, full of information, and easy to use and set up.

They also support active day trading through their IRESS platform.

Brokerage Fee Up to $5,000$14.95
$5,001-20,000$19.95
Over $20,0000.11% Per Trade Value
Mobile AppYes
Research AvailableYes
International Trading Yes

Number 4: CommSec

Positives

  • CHESS Sponsored
  • Tonnes of Research
  • International Trading
  • Aus. Largest Online Broker

Neutral

  • Commsec Pocket
  • WEBIress

Negatives

  • Relatively High Brokerage
  • Inactivity fees on international trading accounts
  • Customer Support

CommSec is the most popular share trading platform in Australia, mostly due to its size. Their website is excellent and easy to use and their fees are reasonable. They also launched CommSec Pocket which allows ETF trading for only $2 per trade on a select few ETFs.

Brokerage Fee Up to $1,000$10
$1001-10,000$19.95
$10,001-25000$29.95
Over $25,000 0.12% Per Trade Value
Mobile AppYes
Research AvailableYes
International Trading Yes

Number 5: Westpac

Positives

  • CHESS Sponsored
  • International Trading
  • User Friendly

Neutral

  • Research
  • No App- Mobile Website Only

Negatives

  • High Brokerage
  • Customer Support
  • Inactivity Fee on International Brokerage

Westpac offers trading from $19.95 per trade. Westpac lets Aussies execute fast trades on both the ASX and international market. Trades can be made via desktop, phone or the Westpac Online Investing App. Their mobile app is excellent. They are relatively pricey compared to our other picks, starting at $19.95 per trade.

Brokerage Fee$19.95 or 0.11%
Mobile AppNo- Mobile website only
Research AvailableYes
International Trading Yes

Number 6: ANZ

Positives

  • CHESS Sponsored
  • International Trading
  • Mobile App

Neutral

  • Research

Negatives

  • High Brokerage
  • Customer Support
  • Inactivity Fee on International Brokerage

The final of the big banks, ANZ also has a decent share trading platform again starting at $19.95 per trade. They have no app support. They are relatively pricey compared to our other picks.

Brokerage Fee $0-5,000$19.95
$5,001-10,000$24.95
$10,001-18,000$29.95
$18,001-28,000$29.95 or 0.11%
Mobile AppYes
Research AvailableYes
International Trading Yes

Online Brokers

For this list, we are going to stick with online brokers which is largely what we recommend for the majority of investors. The most common fee you will incur is typically the trading fee called brokerage, this fee will often change depending on how much you are looking to trade. For the majority of platforms, this is the sole fee associated with trading domestic shares. With international shares, there may be a few more fees check out our dedicated international guide here.

CHESS Sponsored Brokers: What is CHESS Sponsored?

For most people, we only endorse CHESS-sponsored brokers. When buying shares through a CHESS Sponsored broker it means the ASX has a record of you owning those shares directly. When you join one of these brokers you get given a HIN (Holder Identification Number), and the shares are then attached to you, via that number. You can have multiple numbers at multiple online brokers.

Here’s our complete list of all CHESS Sponsored Brokers.

When you hold shares through a CHESS Sponsored broker it means YOU own them directly, rather than someone else holding them on your behalf. Some other brokers, operate under a custodian model, meaning that THEY hold the shares on your behalf. If either of those companies goes under, your ownership of the shares isn’t as clear as if they were CHESS Sponsored. It also means these companies may have control over the equities you buy and sell. One incident was in 2019, a custodian model broker banned the trading of ‘weed stocks’ leaving millions of investors panicking.

Prophet Invest Trusted Affiliate Partner

There is a lot of misinformation on the internet about CHESS-sponsored brokers with many trading platforms pretending to be CHESS sponsored. This makes it difficult to find the right platform.

Best Share Trading Platforms: Prophet’s Take

This list is not extensive and this is for good reason. The large majority of cheap, highly publicized share trading platforms are not CHESS Sponsored. All of these above brokerages are CHESS Sponsored. From these, any is a good option, have excellent support and resources. Our personal favorites are Pearler, Selfwealth, Nabtrade, Commsec for their low fees and user-friendly platforms.

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