What Is the Best Online Trading Platform in Australia — Top Picks

Published On: 2025-10-30

Prepared by Jameson Richman and our team of experts with over a decade of experience in cryptocurrency and digital asset analysis. Learn more about us.

What is the best online trading platform in Australia is a question many new and experienced investors ask as the market for online brokers and crypto exchanges keeps expanding. This guide summarizes the criteria to evaluate platforms, compares the leading local and international options available to Australians, explains fees, regulation and tax implications, and provides actionable recommendations so you can choose the platform that best fits your goals.

Quick summary

This article explains how to assess online trading platforms in Australia — covering regulation (ASIC), security, fees, product range (shares, ETFs, CFDs, crypto), trading tools, mobile apps, customer service and tax reporting. It compares major brokers and crypto exchanges available to Australian residents and includes practical sign-up links and resources so you can start testing platforms with a demo or low-cost account.

How to decide what the best platform is for you

There is no single answer to the question what is the best online trading platform in australia because “best” depends on your personal needs: Are you a long‑term investor, an active trader, a derivatives user, or a crypto native? Use the checklist below to match platforms to your priorities.

Key selection criteria

Regulation and safety: Is the provider regulated by the Australian Securities and Investments Commission (ASIC) or a trusted equivalent? Does it use strong encryption and segregated client accounts?
Fees and pricing: Compare brokerage per trade, spreads, deposit/withdrawal fees, inactivity fees, and CFD/derivatives margins.
Product range: Access to ASX shares, international markets, ETFs, options, futures, CFDs, and crypto.
Trading tools & research: Charting tools, order types, news, research reports and backtesting capabilities.
Platform usability: Desktop, web and mobile app quality; ease of placing orders; watchlists; alerts.
Customer support: Live chat, phone support hours, and knowledge base quality.
Costs outside commissions: FX conversion, market data fees and margin interest.
Account types & funding: Demo accounts, SMSF access, and ease of funding from Australian bank accounts.
Tax and reporting: Does the platform provide tax statements or integration with tax software? Also, consider ATO guidance for cryptocurrency taxation (ATO — Cryptoasset tax rules).

Regulation and security — why it matters

In Australia, ASIC oversight is a major confidence factor for retail traders. Choose brokers that are licenced by ASIC or have robust compliance if offshore. You can verify a firm’s licence on the ASIC website.

Security practices to look for:

Two-factor authentication (2FA) and hardware key options
Cold storage for crypto holdings (for exchanges)
Strict KYC and AML procedures
Client money kept in segregated accounts with reputable banks

Comparing platform types: brokers vs crypto exchanges

Decide whether you need a traditional broker (for ASX shares, international equities, ETFs, options and managed funds) or a crypto exchange (for trading Bitcoin, Ethereum and altcoins). Many traders use both: a broker for equities/ETFs and a specialised cryptocurrency exchange for crypto.

Traditional brokers (shares, ETFs, options, CFDs)

Examples: CommSec, CMC Markets, IG Markets, eToro, Interactive Brokers, SelfWealth
Strengths: Regulated for Australian equities, provide tax reporting, support SMSF accounts
Weaknesses: International market access may incur FX fees and higher commissions

Crypto exchanges

Examples: Binance, Bybit, Bitget, MEXC, Kraken, Coinbase
Strengths: Deep liquidity for crypto pairs, advanced order types, margin and derivatives
Weaknesses: Regulatory landscape evolving; ensure you understand custody vs non-custodial options and tax reporting

Top online trading platforms accessible to Australians — quick overview

Below are widely used platforms among Australian traders and investors. Each entry highlights who it’s best for and major pros/cons.

CommSec (Commonwealth Bank)

Best for conservative Australian investors who want integrated banking and brokerage services.

Pros: Strong reputation, direct ASX access, good research and integrated banking with Commonwealth Bank, SMSF support.
Cons: Higher brokerage fees for small trades compared to discount brokers.

CMC Markets

Suited for active traders and those who want advanced charting and competitive spread pricing.

Pros: Powerful web & mobile platforms, competitive CFD pricing, large market access.
Cons: CFD products carry higher risk; fee structure can be confusing for beginners.

Interactive Brokers (IBKR)

Best for global investors seeking low-cost international trading and advanced order types.

Pros: Extremely low commissions for international markets, professional-grade tools, access to stocks, options, futures and FX.
Cons: Interface can be complex for beginners; smaller ASX focus compared to local brokers.

eToro

Good for beginners interested in social trading, fractional shares and a simple crypto integration.

Pros: Social copy trading, easy mobile app, fractional share investing.
Cons: Spreads and conversion fees can add up; limited advanced order types.

IG Markets

Best for CFD and spread betting (where available) with a long track record.

Pros: Robust platform, strong research, competitive derivatives trading.
Cons: CFD risks; fees may be higher for low-volume investors.

SelfWealth

Best for cost-conscious ASX investors who want flat-fee brokerage and community-sourced insights.

Pros: Flat brokerage fee, no inactivity fees, simple platform for buy-and-hold investors.
Cons: Fewer advanced trading tools.

Pepperstone

Focused on forex and CFD traders who value low spreads and fast execution.

Crypto exchanges worth considering

If you are focused on cryptocurrency trading, the market in 2025 still includes global exchanges with varying suitability for Australians. When choosing a crypto exchange, evaluate regulatory status, KYC policies, liquidity, derivatives offerings, and the range of supported tokens.

Binance

Binance is one of the largest global crypto exchanges by volume and offers spot trading, futures, staking and many tokenized products. Australian residents often use Binance (check local compliance, product availability and KYC requirements before trading).

Sign-up link (if you want to create an account): Register at Binance.

For details on fees, tricks and whether Binance is free to trade, see this in-depth guide: Is Binance Free to Trade in 2025 — Fees, Tricks and What You Need to Know.

Bybit

Bybit is popular for derivatives and perpetual futures. It also offers spot markets and a user-friendly app.

Create an account: Sign up at Bybit.

Bitget

Bitget combines spot, derivatives, and copy-trading features that are attractive to crypto traders looking for innovation and copy strategies.

Referral link: Register at Bitget.

MEXC

MEXC is known for listing many altcoins and offering margin derivatives. It’s popular with traders seeking new token listings.

Referral link: Sign up at MEXC.

Kraken (and crypto options)

Kraken is a reputable exchange that offers strong security practices and a wide variety of products. If you’re considering crypto options trading, see this comprehensive guide on Kraken’s crypto options in 2025: Can you trade crypto options on Kraken in 2025?.

Automation, AI and trading bots — should Australians use them?

Algorithmic trading and AI-driven bots are increasingly common. They can automate strategies, execute round‑the‑clock, and remove emotional bias — but they carry risks including overfitting, bugs, and exchange counterparty risk.

Before using bots, consider:

Security of API keys: Use read-only keys where possible and IP whitelisting.
Testing: Backtest and run strategies on demo environments or small amounts first.
Transparency: Understand the logic and risk controls (stop loss, max drawdown).
Costs and latency: Fees and execution speed can materially affect results.

For a primer on crypto trading bots and AI automation, the following resources are useful:

Fees — how to compare and spot hidden costs

Fees are one of the decisive factors when choosing the best platform. Look beyond headline commission rates to understand total trading cost:

Brokerage per trade: Flat fee vs percentage
Spread: For CFDs and crypto spot markets
FX conversion fees: For trading international stocks or crypto pairs quoted in USD
Withdrawal fees: Especially for crypto networks where miner fees apply
Market data fees: Professional live market data may cost extra
Inactivity fees and account maintenance: Some platforms charge these

Example: a low-fee platform with cheap per-trade commissions may still be costly if it charges high FX conversion fees on international trades. Always run a sample trade calculation to estimate the actual cost.

Taxes and reporting — what Australian investors must know

Capital gains tax (CGT) applies to crypto and shares. The Australian Taxation Office (ATO) has clear guidance on cryptoasset taxation and record-keeping. You can find official information at the ATO website: ATO — Official site.

Key points:

Keep complete trade records, including dates, prices, fees and transaction IDs for crypto.
Many brokers provide tax statements for end-of-year reporting; use them to simplify lodging returns.
Short-term trading implies different tax outcomes than buy-and-hold (no concessional 50% CGT discount if held under 12 months).

Practical examples and scenarios

Scenario A: Beginner long-term ASX investor

Profile: Low-frequency trades, wants strong research and SMSF support.

Recommended platforms: CommSec (for bank-integration and research) or SelfWealth (for low flat fees).

Scenario B: Active international equities trader

Profile: Trades US stocks frequently, needs low commissions and FX efficiency.

Recommended platform: Interactive Brokers (low per-share costs and good global access).

Scenario C: Crypto trader using derivatives and bots

Profile: Trades spot and futures, uses automation and wants competitive derivatives liquidity.

Recommended platforms: Binance, Bybit, Bitget or MEXC depending on product offerings and fees. If considering bots or AI automation, read this guide on bots: Crypto trading bot: AI — Smart automation, and this analysis: Do AI trading bots work in 2025?.

Sign-up links for some exchanges:

Platform feature checklist — fill this before you sign up

Is the platform regulated by ASIC or a trusted international regulator?
What is the total cost per typical trade (include FX and spreads)?
Does the platform support your required assets (ASX, US stocks, crypto, options)?
Is there an easy way to fund from AUD bank accounts and withdraw back to AUD?
Does it provide tax statements or integrations to simplify tax time?
Are demo accounts or paper trading available?
Does the mobile app have all essential order types and charting tools?
What is customer support availability and reputation in Australian user reviews?

Common questions (FAQ)

Q: Can Australians use Binance and other global crypto exchanges?

A: Yes, many Australians use global exchanges like Binance, Bybit, Kraken and others — but product availability and compliance requirements change frequently. Always confirm KYC requirements and local restrictions. For a thorough look at Binance’s fee structure and tricks, see: Is Binance Free to Trade in 2025 — Fees, Tricks and What You Need to Know.

Q: Are crypto exchanges safer than keeping coins on my own wallet?

A: Exchanges offer conveniences like liquidity and derivative products but carry counterparty risk. Self-custody (your own wallet and private keys) reduces counterparty risk but increases responsibility for security. For trading use cases, exchanges are practical; for long-term holding of significant value, many experts recommend cold storage solutions.

Q: Are AI trading bots worth it?

A: Bots can be useful for automation and executing repeatable strategies, but they are not a magic solution. Performance depends on strategy quality, market conditions, execution costs and risk controls. Review independent analyses before relying on automated systems: Do AI trading bots work in 2025?.

High-authority resources to check

ASIC — Australian Securities and Investments Commission (verify licences and regulatory warnings)
ATO — Australian Taxation Office (tax guidance for investors and crypto holders)
Wikipedia — Australian Securities Exchange (ASX) (background on Australia's primary share market)
Wikipedia — Online broker (general overview of online brokerage)

Final recommendations — answering the question directly

So, what is the best online trading platform in Australia? The answer depends on your profile:

Conservative, ASX-focused investor: CommSec or SelfWealth for strong local support and tax reporting.
Cost-focused, global equities trader: Interactive Brokers for low-cost access to US and global markets.
Active CFD/FX trader: CMC Markets or Pepperstone for execution and tools.
Crypto native trader: Binance, Bybit, Bitget or MEXC depending on product needs — register and compare using the links above.

Your best approach is to shortlist two platforms — one broker and one crypto exchange if you trade both asset classes — open demo accounts where possible, compare real costs with a sample trade, and only fund accounts after verifying regulatory standing and support options.

Next steps

Decide the primary asset class you will trade (ASX equities, international shares, CFDs, crypto).
Use the platform feature checklist above to create a short list of 2–3 providers.
Open demo accounts or start with small deposits to test execution, app usability and customer support responsiveness.
Keep thorough records for ATO reporting. If you trade crypto, consult ATO guidance and keep transaction IDs for your records.

Note: This article provides general information and is not financial advice. Always perform your own due diligence and consider seeking personalised advice from a licensed financial advisor if you are unsure about investment decisions.

Useful links referenced in this article

Official ASIC site — verify broker licences and warnings (see ASIC at asic.gov.au).
ATO — tax guidance for crypto and capital gains tax information.
Crypto guides referenced:
Sign-up links (if you wish to explore crypto exchanges):