Best Trading Platforms Australia
Choosing a trading platform in Australia is more than a fee comparison. Below we outline what Australian investors should compare — from ASIC and AFSL checks to CHESS sponsorship, AUD fees and product risks.
Risk Warning
Trading financial products involves risk. CFDs, forex and crypto-related products can be highly volatile and may not be suitable for all investors. TradeRadarNews Australia provides general educational information only and does not consider your objectives, financial situation or needs. Consider seeking independent advice before investing.
How to compare trading platforms in Australia
Before opening an account, Australian investors should compare each platform across regulation signals, fees, products, AUD support and withdrawal experience. The table below summarises common platforms used by Australians. Information should be verified directly with the provider.
| Platform | Best for | Markets | AUD deposits | ASX access | CHESS / Custodial | Crypto / Forex / CFD | Key fees to check | Safety notes | Review |
|---|---|---|---|---|---|---|---|---|---|
| CMC Markets Invest | ASX & global shares | ASX, US, Australia, EU shares & ETFs | Yes | Yes | CHESS sponsored | Shares, ETFs; CFDs via separate entity | Brokerage, FX conversion | AFSL holder — verify on ASIC Connect | Verify with provider |
| Pepperstone | Forex & CFD traders | Forex, indices, commodities, crypto CFDs | Yes | No | Information to verify directly with provider. | Forex / CFDs (high risk) | Spreads, commissions, overnight financing | AFSL holder — verify on ASIC Connect | Read review |
| IG Australia | CFD trading & shares | CFDs, forex, ASX shares | Yes | Yes (shares product) | Information to verify directly with provider. | Shares, CFDs (high risk) | Spreads, commissions, FX, overnight fees | AFSL holder — verify on ASIC Connect | Read review |
| Selfwealth | Flat-fee ASX trading | ASX, US shares | Yes | Yes | CHESS sponsored | Shares & ETFs only | Flat brokerage, FX conversion (US) | AFSL holder — verify on ASIC Connect | Verify with provider |
| Stake | US share access | US shares, ASX shares | Yes | Yes (ASX product) | CHESS sponsored (ASX product) | Shares & ETFs | Brokerage, FX, subscription tiers | AFSL holder — verify on ASIC Connect | Verify with provider |
| Independent Reserve | AUD crypto trading | Crypto assets | Yes (PayID / OSKO) | No | N/A | Crypto only (high risk, unregulated as financial product) | Trading fees, withdrawal fees | AUSTRAC-registered DCE — not bank-equivalent protection | Verify with provider |
Information may change. Always verify provider details directly. General information only — not personal financial advice.
Key things to check before depositing
- Verify the company name and ABN on ASIC Connect.
- Check whether the platform holds an Australian Financial Services Licence (AFSL) or is appropriately authorised.
- Review the product disclosure statement (PDS) and target market determination (TMD).
- Compare AUD brokerage, FX conversion, deposit and withdrawal fees.
- Understand whether shares are held under CHESS sponsorship or in a custodial model.
- Read independent reviews and search for recurring withdrawal complaints.
- Check whether risk warnings are clearly displayed and that no returns are promised.
Scam warning signs to watch for
- Guaranteed returns or 'risk-free' trading claims.
- Pressure to deposit more or upgrade to a 'VIP' account.
- Requests to send funds in crypto to recover a 'frozen' account.
- Account managers who trade on your behalf without proper authorisation.
- Unclear company name, no ABN, or unverifiable address.
- Withdrawals blocked unless additional fees or taxes are paid.
- Unrealistic testimonials, celebrity endorsements or fake regulatory badges.
Before opening an account
Take the time to read the platform's product disclosure statement, understand the fee structure in AUD, and confirm the entity you are dealing with is the one named on the ASIC register. If anything is unclear, contact support before transferring funds.
Frequently Asked Questions
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Our editorial team researches trading platforms, market education topics and scam warning signs for Australian readers. Our content is general information only and does not consider your personal objectives, financial situation or needs.
General information only. Trading involves risk and may not be suitable for all Australians.