Best 5 Investing Apps Australia for Online Trading
We will be going through nine of the biggest investing apps in Australia. By the end of the video, you’ll get an understanding of the different platforms out there, how much it costs to invest, and just how easy it is nowadays to actually make an investment.
Perla
Perla charges a flat fee of $6.50 when buying or selling Australian or US shares. They also have a 0.5% currency conversion fee when converting money from Australian dollars to US dollars. The minimum investment amount is $500, but Perla also has a micro-investing option that allows you to invest from $5. They are a CHESS sponsored broker, which means your shares will be held in your own Holder Identification Number. Perla also offers the option to prepay your brokerage credits to save money. Instead of paying $6.50 per brokerage fee, you can pay $5.50 with the prepaid option.
Sharesies
Sharesies charges a transaction fee of 1.9%, capped at $5 USD, $6 AUD, or $25 NZD per order. These fees depend on the stock market you’re investing in. There is no minimum investment amount with Sharesies, and you can invest from as little as one cent. They do not offer auto-investment functionality, and they are not a CHESS sponsored broker. Sharesies gives you access to the New Zealand, Australian, and US stock markets.
Stake
Stake allows you to access the Australian and US stock markets. They have a $3 brokerage fee for the Australian stock market and a $0.01 brokerage fee for trades over $30,000. For the US stock market, they charge a $3 USD brokerage fee or $0.01 for trades over $30,000 USD. They also charge a 0.7% currency conversion fee when converting money between Australian and US dollars. The minimum investment amount is $500. Stake is a CHESS sponsored broker.
Superhero
Superhero charges a $5 brokerage fee for Australian shares, $0 brokerage fee for ETFs, and $0 brokerage fee for US shares. The minimum investment amount is $100 for the Australian stock market and $10 for the US stock market. They offer an auto-invest feature but are not a CHESS sponsored broker. Superhero gives you access to the Australian and US stock markets. They also offer Qantas frequent flyer points on eligible transactions.
SelfWealth
SelfWealth charges a $9.50 brokerage fee for the Australian stock market and a $2 brokerage fee for the US stock market. The minimum investment amount is $500. They do not currently have an auto-invest feature but offer a target portfolio option. SelfWealth is a CHESS sponsored broker and gives you access to the Australian, US, and Hong Kong stock markets.
CommSec
CommSec charges a brokerage fee ranging from $10 to $29.95, depending on the investment amount. For investments over $25,000, they charge a brokerage fee of 0.12%. CommSec allows you to invest in the Australian stock market.
And that wraps up our overview of the nine biggest investing apps in Australia! Each app has its own features and fees, so be sure to choose the one that best fits your investment needs. Remember, this video is for informational purposes only and does not constitute personal financial advice. Happy investing!
If you’d like all of this information put together in a nice PDF, plus some bonus information about how to get started investing, I’ve created a completely free cheat sheet that you can download in the description below. And don’t forget to subscribe to this channel and give this video a like if you found it helpful!
The first investing app is Comsec. They require a minimum investment amount of $500 and charge a brokerage fee of $9.90. They offer access to the Australian stock market, US stock market, and other international markets. Comsec currently has an offer where the first 10 trades have waived brokerage fees on trades under $50,000 until July 31, 2023. The app may be more suitable for experienced investors as it has advanced features and charts.
The second investing app is Nab Trade. They charge a brokerage fee of $9.95 for trades up to $1,000 and the fee increases to $19.95 or 0.11% for trades above $20,000. The minimum investment amount is $500. Nab Trade also offers access to the Australian stock market, US stock market, and other international markets. The app may not be beginner-friendly and is better suited for experienced investors.
The third investing app is CMC Markets. They offer zero brokerage fee for buy orders up to $1,000 per day. For amounts over $1,000, the brokerage fee is $11. The minimum investment amount is $500. CMC Markets provides access to the Australian stock market, US stock market, and other international markets. The first investment with CMC Markets has no brokerage fee. The app offers advanced features and extensive information, making it more suitable for experienced investors.
The fourth investing app is IG Trading. They charge a $5 brokerage fee or 0.05% trade fee, whichever is higher. The minimum investment amount is $500. IG Trading provides access to the Australian stock market, US stock market, and other international markets. The app features candlestick charts and detailed information, making it more suitable for experienced investors.