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Best Stock Trading App

Starting to invest? Picking the right stock trading app is your first big step.

It’s your link to the stock market, making it simple to buy and sell shares wherever you are.

With so many apps to pick from in Australia, it’s about knowing what you want. How often will you trade? What tools do you need?

I’ve done the hard work for you. I’ve ranked and reviewed most apps.

Let’s find out which is the best app for trading stocks in Australia.

Best Australian Stock Trading Apps in 2023

  • eToro: Best Overall Trading App
  • CMC Markets: Best for Range of Offerings
  • IG: Best for Advanced Traders
  • AvaTrade: Best for Forex Trading
  • CommSec: Best for ASX Share Trading
  • NABTrade: Best for Research Tools
  • ANZ: Best for Full-Service Banking and Trading
  • GoMarkets: Best for Forex and CFD Trading
  • Stake: Best for US Stocks
  • SelfWealth: Best for Flat Fee Brokerage
  • Revolut: Best for Easy International Transfers
  • Westpac Online Investing: Best for Integrated Banking and Trading
  • Plus500: Best for CFD Trading
  • Pepperstone: Best for MetaTrader Platform
  • Interactive Brokers: Best for Professional Traders
  • OANDA: Best for Forex Pair Variety
  • ThinkMarkets: Best for Cryptocurrency Trading
  • Pearler: Best for Long-Term Investing
  • Goodments: Best for Sustainable Investing
  • Quadcode Markets: Best for Technical Analysis

1. eToro: Best Overall Trading App

etoro

eToro is a leading social trading platform globally, with a significant presence in Australia.

It allows you to trade various financial instruments, including stocks, ETFs, commodities, forex, and cryptocurrencies. One standout feature of eToro is the social trading aspect, which allows you to follow, interact with, and copy trades from other successful traders.

The platform provides a wide variety of learning resources, making it an excellent option for beginners.

Pros:

  • Social trading feature allows you to copy successful traders’ strategies
  • No commission on stock trading
  • Access to a wide range of financial instruments
  • User-friendly platform ideal for beginners
  • Excellent educational resources
  • Robust security measures
  • Transparent fee structure

Cons:

  • Withdrawal and inactivity fees
  • Cryptocurrency trading is only available as a CFD outside the US
  • Does not offer direct ASX share trading, only CFDs

Why I Like This App:

I’m a fan of eToro because of its innovative social trading feature. The platform allows you to learn from and copy the strategies of successful traders, making it an excellent tool for beginners and experienced traders alike.

It also stands out with its zero-commission stock trading offer and user-friendly interface. Additionally, the minimum deposit for Australian users is $50, making it accessible for many traders.

2. CMC Markets: Best for Range of Offerings

cmcmarkets

CMC Markets is a UK-based company with a strong presence in Australia. It offers a broad range of financial instruments, including shares, indices, commodities, forex, treasuries, and cryptocurrencies. The platform’s standout features include advanced charting tools, excellent customer service, and competitive spreads.

Pros:

  • Wide range of financial instruments
  • Advanced charting and analysis tools
  • Highly competitive spreads
  • Excellent customer service
  • Comprehensive educational resources
  • Transparent and competitive fee structure

Cons:

  • Inactivity fee applies if you don’t trade for a certain period
  • Some users may find the platform’s interface complex
  • No social trading feature

Why I Like This App:

CMC Markets offers a robust platform with a wide array of trading options.

The sophisticated charting tools are a big plus for those interested in technical analysis.

Also, its highly competitive spreads mean you get to keep more of your profits.

The minimum deposit for a live account is $0, but they do recommend starting with at least $1000 to cover the margins of your trades.

3. IG: Best for Advanced Traders

IG markets

IG is a well-established trading platform known for its expansive market access, including forex, commodities, indices, and more.

With IG, Australian traders have direct market access to shares listed on the ASX and other leading global exchanges. The platform provides a range of educational resources and trading tools suitable for both beginners and advanced traders.

Pros:

  • Wide market access, including ASX and international shares
  • Advanced trading tools and features
  • Extensive educational resources
  • Highly regarded customer service
  • Transparent pricing structure

Cons:

  • Inactivity fee charged if no trades are made for two years
  • Some advanced features may be complex for beginners
  • Withdrawal fee applies for certain methods

Why I Like This App:

IG impresses with its broad market access, which allows for diversified trading strategies. The advanced trading tools and comprehensive educational resources make it suitable for traders of all levels.

Additionally, IG has a minimum deposit requirement of $300, which is reasonable for most traders.

4. AvaTrade: Best for Forex Trading

avatrade

AvaTrade is an internationally regulated online broker that offers trading in a variety of financial instruments.

It stands out with its diverse selection of trading platforms, including its proprietary AvaTradeGO app, MetaTrader 4, and MetaTrader 5.

These platforms provide a broad range of trading tools, including advanced charting capabilities, and automated trading systems.

Pros:

  • Multiple trading platforms to choose from
  • Wide range of financial instruments, including forex, commodities, indices, and cryptocurrencies
  • Offers a free demo account for practice
  • Regulated by multiple international authorities
  • Robust educational resources for both beginners and experienced traders

Cons:

  • Inactivity fee applies after three months of non-use
  • Withdrawal process can be slow
  • Customer service could be more responsive

Why I Like This App:

What I appreciate about AvaTrade is the variety of trading platforms available, catering to different trading preferences.

Its wide selection of financial instruments allows for diversified investment. Additionally, the free demo account is an excellent tool for beginners to get a feel for trading without risking real money.

AvaTrade has a minimum deposit requirement of $100.

5. CommSec: Best for ASX Share Trading

commsec

CommSec, operated by the Commonwealth Bank of Australia, is one of the most popular trading platforms in the country.

It provides access to Australian shares, options, ETFs, and international shares.

CommSec offers a full suite of trading tools, live market data, and comprehensive research materials to help users make informed decisions.

Pros:

  • Access to both Australian and international shares
  • Comprehensive research and analysis tools
  • Live market data feeds
  • No inactivity fees or account maintenance fees
  • Access to CommSec Pocket, an app for micro-investing

Cons:

  • Brokerage fees can be high for infrequent traders
  • No access to forex or cryptocurrencies
  • International trading attracts higher fees

Why I Like This App:

CommSec provides a comprehensive trading experience, making it a strong choice for many Australian investors. Its robust research tools and live data feeds help you stay on top of market trends. Also, the CommSec Pocket app is an attractive feature for those interested in micro-investing. There’s no minimum deposit for Australian shares, but for international shares, the minimum is AUD$5,000 for your first trade.

6. NABTrade: Best for Research Tools

nabtrade

NABTrade is an online trading platform provided by National Australia Bank. It offers investors access to Australian and international shares, options, ETFs, and managed funds.

NABTrade provides robust research tools, including access to company announcements, expert analysis, and detailed financial data to support informed decision-making.

Pros:

  • Access to both Australian and international markets
  • Detailed research and market insights
  • Integration with NAB bank accounts
  • Multiple trading platforms available, catering to different experience levels
  • No inactivity fee

Cons:

  • Brokerage fees can be higher than some competitors
  • No access to forex or cryptocurrencies
  • Platform interface might be complex for beginners

Why I Like This App:

NABTrade stands out with its comprehensive market insights and research tools, which can support informed trading decisions. The integration with NAB bank accounts is convenient for those already banking with NAB.

Plus, having access to different trading platforms means you can find one that suits your experience level. There’s no required minimum deposit, which makes it accessible for beginners.

7. ANZ: Best for Full-Service Banking and Trading

anz

ANZ Share Investing, provided by Australia and New Zealand Banking Group, gives access to ASX and international shares, options, ETFs, and managed funds.

It offers a simple and intuitive platform suitable for both beginners and experienced traders. With ANZ Share Investing, users can access various research materials and live market data.

Pros:

  • Access to Australian and international markets
  • User-friendly platform, suitable for beginners
  • Research tools and live market data available
  • Integration with ANZ bank accounts for seamless fund transfers

Cons:

  • Higher brokerage fees compared to some competitors
  • No access to forex or cryptocurrencies
  • Limited advanced trading tools

Why I Like This App:

ANZ Share Investing offers a straightforward, user-friendly platform, making it a good choice for beginners.

The availability of research materials and live market data helps users stay informed. If you’re already an ANZ customer, the seamless integration with ANZ bank accounts can be a big plus.

There’s no set minimum deposit, but they recommend having enough to cover the cost of your first trade.

8. GoMarkets: Best for Forex and CFD Trading

gomarkets

GoMarkets is a leading forex and CFD broker that provides trading on a variety of financial instruments, including forex, commodities, indices, and cryptocurrencies.

The platform features a user-friendly interface and offers MetaTrader 4 and MetaTrader 5, two of the most popular trading platforms globally.

Pros:

  • Wide range of financial instruments available
  • User-friendly interface suitable for beginners
  • Access to MetaTrader 4 and MetaTrader 5 platforms
  • No deposit or withdrawal fees
  • Competitive spreads

Cons:

  • No access to ASX shares
  • Inactivity fee applies if no trading activity for 12 months
  • Limited research tools and educational resources

Why I Like This App:

GoMarkets offers a broad selection of financial instruments, and access to MetaTrader platforms makes it attractive for many traders.

The platform’s user-friendly interface and competitive spreads are other notable features. Importantly, GoMarkets doesn’t charge any deposit or withdrawal fees, making it a cost-effective choice for traders. The minimum deposit is $200.

9. Stake: Best for US Stocks

stake

Stake is an online trading platform that provides Australians with access to U.S. stocks. It offers a simplified and intuitive interface that’s perfect for those new to investing.

Stake charges zero brokerage fees and allows users to trade in fractional shares, making U.S. investing accessible to many Australians.

Pros:

  • Access to U.S. stocks
  • User-friendly platform, perfect for beginners
  • Zero brokerage fees on trades
  • Allows trading in fractional shares

Cons:

  • No access to Australian shares or other global markets
  • Foreign exchange fee applies when transferring AUD to USD
  • Limited advanced trading tools

Why I Like This App:

Stake is a great platform for those looking to invest in the U.S. market. Its user-friendly interface and zero brokerage fees make it a compelling choice for beginners. The option to trade in fractional shares means you don’t need a large amount of capital to start investing. The minimum deposit to open an account is $50 USD.

10. SelfWealth: Best for Flat Fee Brokerage

selfwealth

SelfWealth is a flat-fee brokerage platform that offers access to ASX-listed securities. It stands out with its community feature, which allows users to follow and copy the trades of successful investors.

SelfWealth also provides a variety of performance metrics and portfolio analysis tools.

Pros:

  • Flat-fee structure makes costs predictable
  • Access to ASX-listed securities
  • Social trading features allow users to follow successful investors
  • Performance metrics and portfolio analysis tools available

Cons:

  • No access to international shares or other asset classes
  • Platform could be more intuitive for beginners
  • No live chat or phone support

Why I Like This App:

SelfWealth offers a unique community-driven approach to trading, which can be a great way to learn from successful investors. Its flat-fee structure makes costs predictable and transparent. However, its scope is limited to ASX-listed securities. There’s no minimum deposit to open an account, but you’ll need enough funds to cover the cost of your first trade.

11. Revolut: Best for Easy International Transfers

revolut

Revolut is a digital banking platform that also offers commission-free stock trading for its users. With Revolut, you can trade U.S. stocks and some UK and European shares, allowing a range of investment opportunities. The platform also supports cryptocurrency and commodity trading.

Pros:

  • Commission-free trading for U.S. stocks
  • Ability to trade cryptocurrencies and commodities
  • Digital banking features integrated
  • User-friendly interface suitable for beginners

Cons:

  • Limited number of tradable shares compared to dedicated brokers
  • Foreign exchange fee applies for trades outside your base currency
  • No live customer support

Why I Like This App:

Revolut brings banking and investing together in a user-friendly app, providing a simplified way to manage your finances.

The opportunity to trade cryptocurrencies and commodities alongside shares adds diversity to your investment options. Remember that Revolut’s trading features might be limited compared to dedicated brokerage platforms. The minimum deposit to start trading on Revolut is $1.

12. Westpac Online Investing: Best for Integrated Banking and Trading

westpc

Westpac Online Investing, part of Westpac Banking Corporation, provides access to Australian and international shares, ETFs, options, and warrants.

It offers an advanced trading platform with comprehensive charting tools, research materials, and live market data. Westpac also provides a conditional trading feature that allows setting rules for automatic trades.

Pros:

  • Access to Australian and international markets
  • Advanced trading platform with comprehensive charting tools
  • Integration with Westpac bank accounts for seamless fund transfers
  • Conditional trading feature available

Cons:

  • Higher brokerage fees compared to some competitors
  • No access to forex or cryptocurrencies
  • The trading platform might be complex for beginners

Why I Like This App:

Westpac Online Investing offers a full-featured trading experience with its advanced platform and wide market access.

The conditional trading feature allows automating certain trading actions, adding convenience for users. If you’re already a Westpac customer, the integration with your bank account can be a significant advantage. The minimum deposit for opening an account is $5,000 AUD.

13. Plus500: Best for CFD Trading

plus500

Plus500 is a global online broker that allows users to trade CFDs on a wide range of financial instruments, including shares, forex, commodities, cryptocurrencies, and more. It provides a user-friendly platform with an intuitive interface and various charting tools. Plus500 also offers a free demo account for users to practice trading.

Pros:

  • Wide range of financial instruments available for trading
  • User-friendly platform with various charting tools
  • Free demo account for practice
  • Competitive spreads and no commission on trades

Cons:

  • No direct access to stock markets (only CFDs)
  • Inactivity fee applies if no trading activity for three months
  • Limited educational resources

Why I Like This App:

Plus500 offers a broad selection of financial instruments and a user-friendly platform, making it a good choice for both beginners and experienced traders. The availability of a free demo account is also a great feature for practice. However, it’s important to remember that Plus500 only offers CFD trading, which involves higher risk. The minimum deposit to open an account is $100.

14. Pepperstone: Best for MetaTrader Platform

pepperstone

Pepperstone is a renowned global forex and CFD broker. It provides access to a broad selection of financial instruments, including forex pairs, commodities, indices, shares, and cryptocurrencies.

Users can trade on popular platforms like MetaTrader 4, MetaTrader 5, and cTrader, with advanced charting tools and indicators.

Pros:

  • Wide range of financial instruments
  • Access to popular trading platforms (MetaTrader 4, MetaTrader 5, cTrader)
  • Competitive spreads and low fees
  • Excellent customer service with live chat support

Cons:

  • No direct market access to shares (only CFDs)
  • Inactivity fee applies if no trading activity for three months
  • Limited educational resources for beginners

Why I Like This App:

Pepperstone’s offering of a wide range of financial instruments and access to popular trading platforms make it an attractive choice for many traders. Its competitive spreads and excellent customer service further enhance its appeal. Remember, however, Pepperstone only offers CFD trading, which comes with higher risk. There’s no minimum deposit to open an account, but they recommend starting with at least $200.

15. Interactive Brokers: Best for Professional Traders

interactivebrokers

Interactive Brokers is a leading global trading platform offering direct access to stocks, options, futures, forex, and bonds from a single account. It offers advanced trading tools and features for experienced traders, along with an extensive selection of educational resources.

Pros:

  • Direct access to global markets from a single account
  • Advanced trading tools and features
  • Extensive educational resources for learning
  • Low commission rates for frequent traders

Cons:

  • Platform may be too complex for beginners
  • Inactivity fee applies if the trading activity is low
  • Customer service may be slow during peak hours

Why I Like This App:

Interactive Brokers provides a comprehensive trading platform catering to experienced traders with its wide market access and advanced trading features. If you’re a frequent trader, you may benefit from their low commission rates. However, be prepared for its learning curve if you’re a beginner. The minimum deposit to open an account is $2,000 USD.

16. OANDA: Best for Forex Pair Variety

oanda

OANDA is a well-regarded global forex broker that also offers CFD trading. It’s known for its strong regulatory track record, transparent pricing, and innovative trading technology.

Traders can access a wide range of forex pairs, commodities, indices, and bonds through OANDA’s user-friendly platform.

Pros:

  • Strong focus on forex trading with a wide range of pairs
  • Transparent pricing and competitive spreads
  • Innovative trading platform with advanced charting tools
  • Strong regulatory track record

Cons:

  • No direct access to share trading (only CFDs)
  • Live chat support not available 24/7
  • Inactivity fee applies if no trading activity for twelve months

Why I Like This App:

OANDA stands out with its focus on forex trading, transparent pricing, and innovative trading technology. If you’re primarily interested in forex and CFD trading, OANDA could be a good fit. However, remember that CFD trading involves higher risk. There’s no minimum deposit to open an account with OANDA.

17. ThinkMarkets: Best for Cryptocurrency Trading

thinkmarkets

ThinkMarkets is a global broker providing access to forex, CFDs on shares, indices, commodities, and cryptocurrencies. It offers two trading platforms, ThinkTrader and MetaTrader 4, both equipped with advanced charting tools and automated trading capabilities.

Pros:

  • Wide range of tradable instruments including forex, CFDs on shares, and cryptocurrencies
  • Two robust trading platforms to choose from
  • Competitive spreads and no commission on certain accounts
  • 24/7 customer support

Cons:

  • No direct access to stock markets (only CFDs)
  • Inactivity fee applies after six months of no trading activity
  • Limited educational resources

Why I Like This App:

ThinkMarkets offers a broad selection of tradable instruments and provides two robust trading platforms, making it a versatile choice for many traders. The 24/7 customer support is also a plus. It’s important to note that ThinkMarkets only offers CFD trading, which comes with a higher risk. The minimum deposit to open an account is $0, but they recommend starting with at least $500 for better trading experience.

18. Pearler: Best for Long-Term Investing

pearler

Pearler is an Australian stock trading app focused on long-term investing rather than short-term trading. It offers access to ASX-listed securities and a selection of ETFs. The platform is user-friendly and features goal setting and automated investing, which are great for beginners and passive investors.

Pros:

  • Focus on long-term investing and automated investing
  • User-friendly platform suitable for beginners
  • Access to ASX-listed securities and a selection of ETFs
  • No monthly account fees

Cons:

  • No access to international markets
  • Not suitable for active traders or day trading
  • Limited charting tools and technical analysis features

Why I Like This App:

Pearler’s focus on long-term investing and its user-friendly platform make it a solid choice for beginners and passive investors. The automated investing feature can be a big plus if you’re looking for a hands-off investing approach. However, active traders might find it less appealing due to its lack of advanced features. There’s no minimum deposit to start investing with Pearler.

19. Goodments: Best for Sustainable Investing

goodments

Goodments is an Australian trading app that focuses on sustainable investing. It allows you to invest in US shares and ETFs based on environmental, social, and governance (ESG) scores. The app has a user-friendly interface and provides comprehensive company profiles, including their ESG ratings.

Pros:

  • Focus on sustainable investing with ESG scores
  • Access to US shares and ETFs
  • User-friendly interface with comprehensive company profiles
  • No brokerage fees on trades

Cons:

  • No access to ASX or other international markets
  • FX fee applies on international trades
  • No advanced trading tools or features

Why I Like This App:

If you’re passionate about sustainable investing, Goodments could be a great fit. The app’s focus on ESG scores allows you to align your investments with your values.

The user-friendly interface and comprehensive company profiles also make it easy to navigate. However, if you’re an active trader looking for advanced features, this might not be the best fit. The minimum deposit to start investing with Goodments is $1.

20. Quadcode Markets: Best for Technical Analysis

quadcode

Quadcode Markets is a growing trading platform that provides access to global markets including stocks, forex, commodities, and cryptocurrencies.

It offers an intuitive trading platform with a focus on advanced charting and analytic tools, making it ideal for technical traders.

Pros:

  • Access to global markets including stocks, forex, commodities, and cryptocurrencies
  • Intuitive trading platform with advanced charting and analytic tools
  • Competitive spreads and low fees
  • Offers a free demo account for practice

Cons:

  • May be complex for beginners
  • Inactivity fee applies if no trading activity for three months
  • Limited customer service options

Why I Like This App:

Quadcode Markets stands out with its wide market access and advanced analytic tools, making it an attractive choice for technical traders.

Its competitive spreads and low fees also add to its appeal. However, the platform might be complex for beginners. The minimum deposit to open an account with Quadcode Markets is $200.

Related pages: Best AU Trading Platforms

Frequently Asked Questions – Stock Trading Apps

How can a beginner invest in Australia?

If you’re just starting to invest in Australia, make sure you have enough money set aside and understand what you want to achieve with investing.

Once you’re ready, decide on an investment strategy, figure out how much you want to invest, open an account with a stockbroker, and start learning about different shares listed on the Australian Stock Exchange (ASX).

How much money do you need to start trading in Australia?

To start trading in Australia, it’s generally a good idea to have at least $2,000, as recommended by the Australian Stock Exchange (ASX).

The amount you need can also depend on the costs involved, like fees, so think about that when deciding how much to invest.

If you have a short-term strategy then you can start with as low as $50-$100.

Can you teach yourself to trade stocks/shares?

Yes, you can start learning about stock trading by reading books, but to actually start trading with your own money, you’ll need to learn more practical skills.

This is where online trading courses can really help, as they can provide you with real-time support and further training.

How long does it take for a beginner to learn to trade?

Learning to trade takes time and effort; it could take at least 6 months for swing trading and a year for day trading. But don’t worry, even though it might take a while to learn, once you’ve got it, you’ll have a skill that can help you make money in the future.

Webull Review

Making investments today has been made easy. You can now trade stocks, options, and crypto using any of the several platforms that are currently available.

webull australia

If you are in search of a trading platform that doesn’t charge any trading fees, look no further than Webull.

Unfortunately Webull is still not available in Australia. A good alternative for trading is eToro.

What is Webull?

Webull is a fintech company founded in May 2017 that offers a trading platform to potential investors. The platform has the edge over many of its competitors as it charges on trading fees. Also, it doesn’t set a base of the minimum initial investment an investor can make.

As it is a relatively new trading platform, it has a limited number of trading options. Nonetheless, Webull has several useful features (we’ll get there in a minute) and tools that make it a good choice. Of the other fintech zero-commission companies, Webull is often compared to Robinhood.

Is Webull safe?

The company is registered under the Financial Industry Regulatory Authority Inc. and licensed to operate in more than 5o states. At the beginning of 2018, Webull earned a Security Exchange Commission registration approval.

Webull is also member of the Securities Investor Protection Corporation.

 Is it available in Australia?

No. Webull is not yet available in Australia. The platform offers services to only residents from the USA, India, Philippines, Malaysia, Japan, China, and Korea. An alternative to Webull is Robinhood but they are also closed to Australian traders.

Sign up process

The signing up process is fully digital and doesn’t require any technical know-how. Webull allows visitors to open accounts through the mobile, desktop, or on the website.

Visit the website, and on the homepage, you’ll see the option to open an account.

On clicking this option, you will be redirected to a page giving you an option of either email sign or phone number sign up.

Depending on the option you prefer, you’ll be required to fill in the details and click on sign up at the end. Some of the information you’ll be asked to provide includes:

  • Your name
  • Birthdate
  • Social security number
  • Email address
  • Contact number
  • Employment information
  • Financial details

After you are done, you can submit your application and wait for the approval. The approval process takes less than a day.

Eligibility

Here are the conditions you must meet to qualify to open an account with Webull:

  • Be aged over 18 years
  • Be a US citizen or permanent resident

Investment amount

Interestingly, Webull doesn’t have a minimum investment amount, which is a great appeal for most investors.

Types of accounts

Webull offers two types of accounts: Individual brokerage and IRA. The individual brokerage account could either be cash or margin accounts. You can open both, but you can’t own two margin or cash simultaneously.

For the IRA account, Webull supports traditional, Roth, and rollover IRA. You can only open one of them, but you’ll need to be open an individual account first.

Investment Options

The mix of investment options available are stocks, options, crypto, and ETFs.

Mobile application

Webull has a mobile application that’s supported on both Android and iOS platforms. The app brings you convenience, as you can manage your portfolio remotely.

Deposit and Withdrawal

There are two options to fund your account i.e. ACH and wire transfer. The withdrawal holding period for the two is 7 days and 1 day, respectively.

It takes 5 business days for a deposit made through ACH to get to APEX, Webull’s clearing firm. For an ACH withdrawal, funds can take anywhere between 1 to 5 business days to arrive.

Note that the withdrawal and deposit account must be the same for ACH. If you withdraw to a different account, it will take 60 days to process your withdrawal. You can withdraw or deposit funds on the website.

Placing orders

Here Webull offers several order types:

  • Stop
  • Limit
  • Stop limit
  • Market
  • Bracket orders

The order time limits available are Good ‘till canceled and Day.

Trading Platform

Webull offers web, mobile, and desktop trading platforms.

The web trading platform has a friendly interface and comes with plenty of advanced features. As such, it fits both beginners and advanced traders. The absence of a two-step log-in, however, is a big letdown.

The mobile and desktop trading platforms are equally great in design and functionality as well. Both are user-friendly and provide the relevant features.

Research

Webull has a lot to offer in the research front. What’s more, research tools are available on all trading platforms. Here you can find several tools that include:

The company offers trading ideas for some stocks in the form of analyst’s opinions for trading or holding assets. You also get fundamental data for Exchange Traded Funds and some stocks.

On the charting section, you have charting tools at your disposal, but we think Webull could improve things here. You get only 20 technical indicators. The news feed is generally good. In addition, Webull provides real-time market data and stock screener.

Customer Support

In case of any inquiries, you can reach customer support. Here are the ways to reach Webull:

The company also has social media presence on Facebook and Twitter.

Fees

On the fee and pricing end, it is all sunshine and rainbows. Webull doesn’t charge you any trading commissions.  What’s more, there are no fees involved when opening an account or for maintenance purposes.

That said, you might still incur some fees. These fees include those charged by the Securities and Exchange Commission and the Financial Industry Regulatory Authority.

Webull also offers some promotions such as the Free Stocks promotion, Referral bonus promotion, Transfer bonus promotion, and Deposit bonus promotion. Each of these promotions have different conditions and rules.  For the specifics, you can visit their website, under ‘Promotion’ in the ‘Account’ sections.

Webull Pros & Cons

Pros

  • There are no fee charges incurred when trading
  • You get bonuses from the promotions
  • Suited to accommodate the needs of experienced traders as well
  • Supports margin trading
  • Very swift signing up process

Cons

  • Webull is a new trading that is yet to mature fully.
  • Offers limited portfolio and doesn’t accommodate investment options like foreign stock, over-the-counter (OTC) stock, Forex, mutual funds, or bonds.
  • Only two types of accounts are available i.e. individual taxable and IRAs. Webull lacks other account types such as joint and trust, which are offered by other trading companies.
  • Limited to only US residents
  • Live chat & lacks telephone support are not available

What are the best alternatives?

Trading companies often vary in terms of fees, features, availability, investment options, and account options. Nonetheless, some have similar or closely similar features and services. Such platforms can be alternatives, and for Webull, these are Robinhood and Fidelity.

Final Thoughts

The fact that Webull charges no fees for the majority of its service is a big afterdeal. Besides, Webull does fairly when it comes to investment options. The platforms are also well-designed and easy to navigate around.

Unfortunately, its portfolio is limited, as it only covers ETFs, Crypto, Options, and Stocks. Whilst beginners will find Webull a worthwhile trading broker, experienced investors will feel limited.

Robinhood Australia

If you are thinking about investing in stocks, there are many stock brokers like Robinhood. But is Robinhood available in Australia?

robinhood australia

Robinhood, a popular US trading platform, is a US-based broker that offers an intuitive trading and investing experience.

The platform, founded in 2013, focuses primarily on stocks and ETFs.

Unfortunately, Robinhood is still not available in Australia. If you are looking for an Australian broker, check out eToro.

Picking a good Australian stock broker is vital. There are so many things that need to be considered and we will show you everything you need to know.

Here is a list of the best online trading platforms.

Is Robinhood Available in Australia?

No, Robinhood is not available in Australia. The app has restricted access in certain countries, including Australia and many other countries.

This is unfortunate since a large number of traders are interested in trading with this online discount brokerage.

Robinhood Alternatives

Robinhood is only available in the United States. However there are many good alternatives:

Plus500 HighLow
Office Australia Australia
AU License ASIC #417727 ASIC #364264
Min. Deposit $100 $50
Real Shares
AUD Accounts
AUD Deposits
Demo Account
CFD Trading
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For Australian investors looking to utilize a similar service, there are alternative options available.

In addition to the ones above, Webull is another such alternative. It is a digital broker that allows Australian investors to trade in US-listed stocks.

Webull, like Robinhood, offers free stocks to new users who open an account and fund their account. It also allows trading in options and ETFs.

However, potential users should keep in mind that even with a low currency conversion fee, trading on a US trading platform comes with its costs.

Each trade requires a currency conversion, and these fees can add up over time.

Furthermore, when choosing an online trading platform, investors should also consider the platform’s security measures, such as two-factor authentication, and whether it offers resources for investment advice to aid in their investment decisions.

Robinhood Review

This brokerage has garnered a significant following due to its user-friendly platform and the allure of no brokerage fees. However, it’s not without its pitfalls.

For instance, its business model of earning from order flows and other backend operations has been a subject of contention. Moreover, the lack of accessibility for non-US residents limits its global growth potential.

Lastly, while its interface is easy to navigate, it may not be suitable for more complex investment decisions or advanced wealth management.

If you want to set up a Robinhood account, you should know that you are not required to make a minimum deposit.

The process of creating an account is easy and quick so you can start trading almost immediately.

Unfortunately, your credit or debit card cannot be linked to the account because the site does not allow its users to trade with them.

The Pros:

  • It offers investor protection
  • It’s regulated by financial authorities
  • Friendly and quick email support
  • Simple interface
  • Can trade stocks, cryptocurrency, and ETFs
  • Provides free reports
  • Easy to set up
  • No commissions or minimum deposits

The Cons:

  • It’s not on the stock exchange
  • No call center or live chats for customer support
  • Mobile version works better than PC counterpart
  • Extensive research and reports are only accessible through a paid membership
  • Not available in countries like Australia

Will You Be Penalized?

Some stockbrokers penalize their clients for various reasons. This is especially true of major names in the game.

There are numerous reasons why users of online trading platforms can be penalized. For example, backing out of purchases or account inactivity for extended periods of time, which would require payment to reactivate.

Fortunately, Robinhood Australia does not enforce such penalties and it is completely free to access.

What is the Membership Process Like?

If you have a Robinhood account, you will appreciate the fact that its services are free. However, it offers premium features that are hidden to normal users and they can only be accessed by becoming a Robinhood gold member.

In terms of the perks, users gain access to Morningstar reports, Level II streaming quotes and margin trading which is all available for $5 USD a month.

Many Robinhood users say that the gold membership is useless because you can get the paid features for free from other sites.

Of course, these sites do not offer reports that are as extensive as Robinhood.

Robinhood Australia Commissions

Robinhood is not available in Australia yet, but we hope that they will be available to Aussies one day.

Let’s see what the US customers pay.

Unfortunately, many online stockbrokers require users to pay a commission which can be very expensive, especially if the site is reputed.

Fortunately, you will not encounter expensive commission with Robinhood because they do not require a commission from customers. This is especially great because their interface is smooth and informative, which helps you invest wisely.

Fee
US Shares, ETFs and Options $0
Wire Transfers $0
Opening Cash Management Account $0
Maintaining Cash Management Account $0

You may be wondering how Robinhood makes money if they do not charge commission. They do this by analyzing your data and selling it to tech firms. Even though this may seem worrying, it is standard practice that major companies such as Facebook and Instagram do as well.

Like Robinhood, an increasing amount of online brokers are letting users access their services without paying a commission.

Robinhood caters to American users and is, therefore, a US-based site. Trading can be more expensive for users that are located anywhere else because they have increased the trading rates for non-US users.

Research

To invest in stocks, you need to be as informed as possible by reading the latest reports and becoming educated. Fortunately, most online brokers offer users the latest reports, including Robinhood.

Robinhood constantly updates you with the latest news on stocks to help you make the best purchase. On the other hand, the reports you’re getting won’t be extensive unless you pay for Robinhood Gold.

This is a shame as Robinhood’s competitors offer such services for free.

Be A Better Trader

Many online brokers offer users trading ideas that are based on research and reports which helps users invest smarter. Unfortunately, Robinhood does not offer trading ideas but it is important to work with such sites in the long run.

This factor might affect your decision to work with them or not. You could come up with trading ideas yourself by going through their news reports and research, but as mentioned, Robinhood doesn’t offer thorough reports unless you’re a gold member.

What Do You Want To Trade?

Robinhood allows you to trade several things in addition to stocks.

trade stocks, crypto, gold

You can work with stocks as well as cryptocurrencies and exchange traded funds (ETFs) which means that you don’t have to switch between platforms for each.

Ease Of Use

In terms of availability, the fact that it is unavailable in certain countries might be a huge drawback. However, access is not restricted according to the type of device you are using. Robinhood is available on all computers and mobile devices, irrespective of their operating systems.

Furthermore, its interface is known to be very easy to use. On their website, you’ll see a minimalistic design with a lack of clutter which makes it easy for you to go through and make your decisions wisely. Of course, the simple design translates to its mobile version as well.

You can download Robinhood from the AppStore on IOS or Android. Many people have noted that the mobile app functions more smoothly and looks better than the web version. Thus, if you are using Robinhood on your computer, you may not trade as well than you would if you were using your phone.

If you were to compare the mobile and web versions, you would see that the app has more customizability so you can edit your account to your liking.

Customer Support

Customer support is vital when trading stocks. You may hit bump in the trading process, so adequate services are needed to resolve any issues you might run into.

Thankfully, Robinhood offers excellent customer support. If you have any questions, they are known to offer quick feedback via email. Robinhood’s site has a FAQ section with some common problems along with proper solutions.

Robinhood does not offer direct communication services in the form of phone or live online chat.

The only option to communicate with Robinhood would be through email.

This is unfortunate because most of Robinhood’s major competitors offer chat, for example eToro (here is my eToro review).

Safety

It is important to be careful when working with online broker because they may not be trustworthy and may even mishandle your cash. If an online broker is licensed, you can expect that they will be safe to work with.

Robinhood is safe for you to trade on because they are regulated by top tier financial authorities and they offer large levels of investor protection.

Although this is a major advantage, they are not listed on the stock exchange which might call into question their reputability. Robinhood is not as verified as its counterparts due to the fact that they are not on the stock exchange.

It’s also worth considering the ‘target market determination’ for each platform. This is a provision under Australian law that requires product issuers to define who their product is suitable for.

Many investment platforms offer this information, and it’s a useful tool for investors when deciding which platform to use.

Before settling on a platform, always remember to read our review and other trusted sources, check the FAQs, and ensure you’re aware of all fees involved.

Investors could potentially save a significant amount by considering these factors before diving into the world of online trading.

This comprehensive approach to choosing a platform will not only help you avoid unpleasant surprises but also enable you to make the most out of your investment journey.

Personal Experience with Robinhood

As someone who has used Robinhood for several years, I can attest to the benefits and drawbacks of the platform. One of the most significant advantages is the absence of commissions and minimum deposits, which makes it accessible to a wider range of investors. In my experience, this has saved me a considerable amount of money that I would have otherwise spent on fees.

However, I have also noticed that the free reports provided by Robinhood are not as thorough as those offered by other online brokers. This has led me to consider upgrading to the Robinhood Gold membership, which provides access to more extensive research and reports, as well as other premium features.

In terms of customer support, I have found that Robinhood’s email service is efficient and helpful, but the lack of a direct communication option, such as live chat or phone support, can be frustrating at times.

In terms of numbers, according to a recent survey conducted by Robinhood, 50% of their users are millennials, and 35% of their users have never invested before using their platform. This shows the growing popularity of online trading platforms, especially among younger generations who are seeking more accessible and affordable ways to invest their money.

Additionally, Robinhood reported a 400% increase in new account openings in the past years.

My personal experience with Robinhood has been positive, and I believe it offers a great option for investors who are looking for a user-friendly and cost-effective platform.

Conclusion

As of 2023, Robinhood, the renowned trading app, is not available to Australian investors, despite its considerable appeal.

Known as a low-cost brokerage, Robinhood has revolutionized stock trading by offering a commission-free investing platform, allowing users to trade fractional shares of stocks listed on exchanges such as NASDAQ.

This innovative approach, coupled with an intuitive desktop interface, has made it a popular choice for investors worldwide.

While Robinhood’s absence in Australia might disappoint some, it’s crucial to remember that there are local alternatives which offer similar features.

The landscape of investing is constantly evolving, with the potential for Robinhood’s entry into the Australian market remaining a possibility.

Until then, Australian investors will need to leverage other platforms for their stock trading needs.