There are many Australian brokers that can trade on both ASX shares and international markets but some are better than others. For example, if you are an avid investor that likes to buy and sell equities, it is important to find a broker that allows you to easily access real time market data. Many brokers provide this but some charge extra for it, or have delayed pricing.
Other features to consider are whether a brokerage platform offers 1-click investing for equities, the ability to open an account with just a bank transfer (Osko) and the type of 2-factor authentication offered. For example, some brokers offer SMS 2FA but this is not considered a very secure method of 2FA as your phone number can be changed or even ported by your service provider and the text could be intercepted.
Top Investing Platforms in Australia for Long-Term Wealth
The Top Investing Platforms Australia also have a range of trading tools, including charting and research features that can be used to make informed trading decisions. Many have a built-in app that makes it easy to use their platform on the go. Lastly, some brokers are also robo-advisers and can automatically manage your investment portfolio and execute trades on your behalf – this may reduce the amount of work you need to do in terms of researching individual stocks.
Some newer brokers that Rask listeners, members, students, or subscribers follow include Stake, Pearler and Selfwealth. These platforms have an Aussie & US focus and are geared toward younger investors who want to get into the market. They are also a good option for those who don’t mind a low fee / all-in approach. Pearler is an innovative new player that has a strong focus on automating investments, micro-investing, and offers free ETFs (VanEck, ETF Securities & eInvest) for investments held over one year. Stake is another innovative Australian company that has opened young investors up to the US markets with fractional ASX trades and a great app experience. Their fees are $0 brokerage on ASX ETFs, $5 brokerage on ASX shares, and $3 USD for US trades – they also have a 70bps FX fee when moving between currencies.