Top 7 Australian
Financial Platforms Ranked

Backed by Commonwealth Bank, CommSec is Australia's largest and most recognised online broker. With deep market research, advanced charting tools, and access to ASX, international markets, and ETFs, it's the go-to for serious investors who want reliability and comprehensive features.

Pros

• Highly trusted — backed by CBA with AFSL protection
• Comprehensive research, news & analyst ratings included
• Access to ASX, US, UK & international markets
• Advanced charting & options trading capabilities

Cons

• Higher brokerage fees ($10+ per trade) vs competitors
• App interface feels dated compared to newer platforms
• No fractional shares — full shares only

SelfWealth disrupted the Aussie brokerage scene with its flat $9.50 fee per trade on ASX stocks. It's an Australian-owned platform that offers a unique social investing feature where you can see how the top-performing portfolios are allocated — great for learning and benchmarking.

Pros

• Flat $9.50 brokerage — no surprises regardless of trade size
• Unique community portfolios — see top performers' holdings
• 100% Australian-owned with HIN-based trading (CHESS)
• Access to US markets with competitive FX rates

Cons

• Limited research tools compared to CommSec
• No margin lending or options trading available
• Mobile app can be slow during high-volume periods

Stake made a name for itself offering commission-free access to US stocks — something previously unavailable in Australia. Now expanded to ASX with a flat $3 fee, it's become a favourite for younger investors who want exposure to global giants like Apple, Tesla, and Amazon without hefty fees.

Pros

• $0 brokerage on US trades (Wall St plan) — truly free
• Clean, modern interface — excellent UX and quick setup
• Fractional shares available on US equities
• Only $3 per ASX trade — among the cheapest in AU

Cons

• FX conversion fee (0.7%) on USD transfers adds up
• ASX trades use custodial model, not CHESS-sponsored
• Limited charting tools and research features

Raiz is perfect for beginners who want to start investing with spare change. It rounds up your everyday purchases and invests the difference into diversified ETF portfolios. With built-in super and kids' accounts, it's one of the most accessible ways to grow wealth passively in Australia.

Pros

• Round-up feature turns spare change into investments
• No minimum deposit — start investing with $5
• Built-in superannuation & Raiz Kids accounts
• Diversified ETF portfolios managed for you

Cons

• Monthly fee ($3.50/mo) eats into small balances
• Can't pick individual stocks — portfolio-only investing
• Limited control over specific asset allocation

Spaceship offers managed investment portfolios focused on technology and innovation companies. Its "Universe" portfolio invests in global tech giants, while the "Earth" and "Origin" portfolios offer broader and more traditional exposure. It's also one of the few platforms with a fee-free super product for balances under $5,000.

Pros

• No fees on first $5,000 invested — perfect for starters
• Tech-focused "Universe" portfolio for growth investors
• Super product with low fees and easy rollover
• Beautifully designed app — seamless onboarding

Cons

• Can't trade individual stocks — managed funds only
• 0.05%–0.10% management fee above $5K balance
• Heavy tech weighting means higher volatility risk

Superhero offers some of the lowest brokerage fees in Australia — $0 on ETF trades and just $2 on ASX share trades. Backed by a team of finance professionals, it's designed to make investing accessible for everyday Australians without the complexity of traditional brokers.

Pros

• $0 brokerage on ETFs — free to build a diversified portfolio
• Only $2 per ASX trade — among the cheapest available
• Simple, clean interface — great for beginners
• Access to US markets with competitive pricing

Cons

• Custodial model (not CHESS) — shares held in trust
• No advanced charting, technical indicators, or alerts
• Newer platform — smaller track record than established brokers

eToro is a global social trading platform now available in Australia. Its standout feature is CopyTrader — automatically replicate the trades of successful investors in real-time. With access to stocks, ETFs, crypto, and CFDs, it offers one of the widest asset selections available on a single platform.

Pros

• CopyTrader — mirror top investors' trades automatically
• Wide asset range: stocks, crypto, ETFs, CFDs
• $0 commission on real stock trades
• Virtual $100K demo account to practise risk-free

Cons

• $50 minimum deposit — higher barrier than local platforms
• $5 withdrawal fee + FX conversion charges
• CFD trading carries high risk — 77% of retail accounts lose