The best investing apps for Australians

By   |   Verified by Andrew Boyd   |   Updated 17th September 2022

There’s a multitude of investment apps now available for Australians, but they differ quite significantly in the features they offer and the fees they charge. However, whether you’re a seasoned investor or a relative newcomer, there will almost certainly be an app to suit both the kind of investor you are, and your budget.

Ten of the best apps are summarised below, to help you make your choice.

⬇️ Click the link for each app for a much more detailed review. ⬇️

eToro

Best for zero commission on US stocks

Buy and sell US stocks on eToro, paying zero commission. Try out trading with a demo account, and follow and copy the moves of successful traders.

Also trade in fractional shares, CFDs (Contracts for Difference) and crypto.

Minimum investment: $10

Pros

  • Commission-free trading, so you can keep more of your profits.
  • Demo account, which is great for beginners to get a feel without risk.
  • Social trading and copy trading. Follow pro traders with a proven track record.

Cons

  • Stock investment limited to US markets. For example, you can't trade the ASX yet.

On website

eToro Service ARSN 637 489 466 Capital at risk. See PDS and TMD

SelfWealth

Best for long-term investors with some market experience

Use SelfWealth to trade in Australian and US shares for a flat fee of $9.50 per trade. SelfWealth is mainly for investors with some market experience who prefer a long-term approach to leverage the benefit of compounding growth.

Minimum investment: $500

Pros

  • Low flat fee for trades, even if placing large stock orders.
  • Free stock analysis and live pricing. Helpful for timing your decisions.
  • CHESS sponsored shareholding with HIN.

Cons

  • Their flat fee applies to US markets. Many other brokers do not charge commission on US stock trades.
  • Their app could be more polished. It's not as easy to use as mobile-first brokers like Stake or Sharesies.

Superhero

Best for low fees and fractional share trading

With Superhero you can trade Australian shares for a $5 flat fee, ETFs for a $0 fee. Trade US shares and ETFs with zero fees. You can also invest your super funds without having to set up an SMSF.

Minimum investment: $100

Pros

  • Low fee ASX share trading, $0 fee ASX ETF purchases. Superhero's ASX trading fees are hard to beat.
  • $0 fee for US shares and ETFs. It doesn't get much lower than that.
  • Fractional share trading available for US high-cost shares.
  • Earn Qantas points when investing. The earn rate isn't going to make a huge difference, but it's a nice added benefit.

Cons

  • Charting is fairly basic compared to other apps, but that's appropriate for the target market.
  • No Buy or Sell ratings, price targets or stock analysis to inform your decisions.

On website

Stake

Cheapest CHESS-sponsored brokerage

Stake brokerage is free for US shares, fractional shares and ETFs, and a very low $3 per trade for Australian shares. Click through from Finty, open your account and fund it in both AUD and USD within 24 hours to receive $10 and a free US share worth up to US$150.

Minimum investment: $10

Pros

  • Cheapest CHESS sponsored broker for Australian stocks. Much cheaper than competitors like CommSec, if CHESS sponsorhsip is a deal-breaker.
  • $0 brokerage for US stocks, which is competitive with other investing apps.
  • Get a free stock for signing up. Stake is one of the only trading apps in Australia with this promo.
  • Mobile-first, user-friendly platform with charts, news and analysis.

Cons

  • Stake Black — which gives you the ability to trade with funds before they settle — costs extra.
  • There is a foreign exchange spread when funding your account for US trades.

On website

Pearler

Best for long-term investors

Pearler focuses on long-term investing in ASX-listed shares and ETFs, using features like Autodeposit, Autoinvest, Goal Tracking, template portfolios and the option to follow successful ‘Finfluencers’. It introduced US share trading in 2021.

Brokerage on Australian securities is a flat AU$9.50 per trade, with free sales of ETFs if held for more than 12 months. For US securities it’s a flat AU$6.50 per trade.

Minimum investment: $100

Pros

  • CHESS sponsored shareholding with HIN, for Australian shares.
  • Competitive flat brokerage fee, although the fee won't matter much for the target market.
  • ‘Set and forget’ features designed for long-term investors.
  • Ability to follow influencers in the Australian FIRE community, which is unique to Pearler.

Cons

  • Cheaper brokers are available for trading on US markets.

On website

CommSec

Best for Big Four security and safety

CommSec is Australia’s largest online broker, powered by Big Four bank Commbank. Use it to trade in both Australian and international shares, ETFs, warrants and fixed income securities.

Fees vary depending on whether you are linking your trading account to a CommBank account or another bank, but for a linked Commbank account they start at $10 for transactions up to $1,000, $19.95 for transactions from $1,000 to $10,000.

A version of the service called CommSec Pocket is available, which provides a Raiz-like experience.

Minimum investment: $500

Pros

  • Safety and security of Big Four bank backing, plus integration with other CommBank services for existing customers.
  • ASX and international shares and ETFs available. You can trade with margin and buy options too.
  • Account options for both beginners and experienced traders.

Cons

  • No demo account, which is a common feature among the more established brokers CommSec competes with.
  • CommSec is not competitive on trading fees, especially against mobile-first apps like Superhero and Stake for US trades.
  • There is an inactivity fee, but that won't be charged until you've gone a year without trading in your international account.

Raiz

Best for painless passive investing for novices

Raiz lets you invest your spare change by rounding up purchases you make using a card, with additional top-ups or lump sums if you choose. It’s a painless way of investing for beginners, especially since all you need to do is choose your risk appetite and then let Raiz invest your cash in appropriately chosen ETFs.

Fees are charged monthly, starting at $0 for a $0 account balance, $3.50 for account balances less than $15,000.

Minimum investment: No minimum to open an account, $5 to start investing

Pros

  • Round-ups are a painless way to invest. Set it and forget.
  • Invest without any knowledge. Leave it to Raiz to decide on allocation.
  • Bucket strategy investment to spread your risk, and invest in things you are interested in.

Cons

  • You have very little control, but that is as much a benefit for some people who see too much choice as no choice at all.
  • You're unlikely to see rapid capital growth, unlike tactically investing in fast-growth stocks.

CMC Markets

Best for low brokerage from a long-established platform

Trade Australian and global shares and other trading options at CMC Markets, plus a wide range of other investment products. The LSE-listed company has been around for 30 years, and is one of the world's leading stockbroking, forex trading and CFD (Contract for Difference) platforms, suitable for both beginners (with lots of educational resources) and veterans.

Brokerage fees for Australian trades up to $1,000 were removed in early 2022. Fees for US, UK, Japanese and Canadian trades are zero.

Minimum investment: $1,000

Pros

  • Low brokerage fees for ASX trades when compared with other long-established brokers.
  • Zero brokerage fees for trading in US, UK, Japanese and Canadian markets.
  • Huge range of trading options and access to many international stock markets.
  • Get a free demo account to practice trading without any risk.
  • Polished mobile app and web-based trading for desktop.

Cons

  • Brokerage charged on ASX trades after $1,000 invested.

Spaceship Voyager

Best for beginners

Trading with Spaceship Voyager involves choosing one of three portfolios and letting experts devise your investment strategy. The app is specifically designed for newbies, to help them build up their investment portfolios and access the best advice for getting started.

There’s a low $2.50 monthly fee for portfolio balances over $100, no fee if your balance is less than $100.

Minimum investment: No minimum

Pros

  • Choice of portfolios to suit your risk, performance history and company type preference.
  • Low fees. No fee at all if your balance is less than $100.
  • No personal investment expertise required. Invest in portfolios, i.e. themed investment in groups of world-changing companies.
  • Beautifully designed mobile app. It's one of the best in Australia for usabillity.

Cons

  • Investing in portfolios means you are somewhat limited in what you can invest in. If you want to invest in a specific company, you won't be able to.
  • Exposure to fluctuation in foreign exchange rates (because Spaceship don't hedge).

ThinkMarkets

Best for Chi-X trading

Trade ASX and CHi-X shares, ETFs, CFDs, forex, commodities, crypto and more at ThinkMarkets. It has a demo account, in-depth market analysis and multiple order types.

There’s a flat brokerage fee of $8 per trade for orders up to $200,000, and 0.05% per trade beyond $200,000.

Minimum investment: $500

Pros

  • Low, flat-fee brokerage for trades up to $200,000.
  • Demo account available to learn what the platform can do before committing real money.
  • One of the few investing apps with the ability to invest in crypto, albeit with CFDs.
  • CHESS-sponsored shares.
  • Good options for funding your account including BPAY, PayPal, POLi, and Visa / Mastercard cards.

Cons

  • Market access limited to ASX and CHi-X.
  • Live market prices are not available without a monthly subscription.

Looking for more options? Compare share trading platforms on Finty.