17 Top Investing Platforms in Australia: A Comprehensive Comparison

 Introduction

Australia’s investing landscape has undergone a revolution, with online platforms unlocking the stock market and other asset classes for everyone—from casual investors to those managing substantial capital. With lower barriers to entry, sophisticated tools, and real-time access to financial markets, investing online has never been more accessible.

Whether you are aiming to build wealth through equities, exchange-traded funds (ETFs), or even alternative assets, selecting the right platform can have a profound effect on your returns, particularly if you’re committing significant capital.

Types of Investing Platforms in Australia

1. Online Brokerage Accounts

Online brokerage accounts, such as CommSec and SelfWealth, are the go-to platforms for serious investors managing larger portfolios. These platforms allow for full control over your investments, offering comprehensive market access and in-depth research tools.

• CommSec, Australia’s largest online broker, offers access to both domestic and international markets. With a trading fee of $19.95 for trades up to $10,000, it provides real-time data, advanced charting tools, and a wealth of research material for the discerning investor. For larger investments, CommSec charges 0.11% of the trade value, which can become significant on large trades. CommSec also offers access to global markets and derivatives like options, making it ideal for investors looking for flexibility and diversification.

If you invested $100,000 in an Australian stock like BHP Group Ltd (BHP) in 2020, when the stock price was AUD 28.50, your investment would be worth approximately AUD 470,000 as of 2024, given BHP’s recent highs near AUD 134.

• SelfWealth, known for its flat $9.50 per trade fee, is a low-cost alternative to CommSec, suitable for high-frequency traders or those who prioritize cost efficiency. Unlike most brokers, SelfWealth charges the same fee regardless of trade size, making it highly cost-effective for larger trades. It does not charge percentage-based fees, ensuring that investors dealing with larger sums can save significantly.

Had you invested $200,000 in Apple Inc (AAPL) through SelfWealth in January 2019, when Apple shares were priced at USD 145, you would have seen your investment grow to approximately USD 720,000 by mid-2024, given Apple’s 2024 share price around USD 360.

Pros: Complete control over your portfolio, real-time data, and access to international markets.

Cons: Higher fees for larger investments (especially with percentage-based platforms like CommSec), requires active management and continuous monitoring.

2. Micro-Investing Platforms

While micro-investing platforms like Raiz and Spaceship are often designed for beginners, they can be used by seasoned investors looking for automated, long-term strategies with small but consistent contributions.

• Raiz invests your spare change into a diversified portfolio of ETFs. With management fees starting at $3.50/month for accounts under $15,000, and 0.275% p.a. for larger balances, it’s a convenient way to invest incrementally. The portfolios range from conservative to aggressive, investing in Australian shares, global shares, and bonds.

A Raiz aggressive portfolio, historically, has generated returns around 6% per annum. An initial $10,000 investment with monthly contributions of $500 could grow to $57,000 over 10 years, assuming an average return of 6% annually, compounded monthly.

• Spaceship focuses on investing in innovative, high-growth companies globally, with an emphasis on technology stocks. The management fee is 0.10% p.a. for balances over $5,000, and its Growth Portfolio has delivered annual returns exceeding 9% over the last few years.

If you invested $50,000 in Spaceship’s Growth Portfolio in 2019, your portfolio would now be worth approximately $78,000, assuming a consistent annual return of 9%.

Pros: Easy entry, low minimum investments, and automated contributions.

Cons: Limited investment options, and higher fees when scaled to large portfolios.

3. Robo-Advisors

For investors seeking a more hands-off approach but with access to a tailored strategy, robo-advisors like Stockspot and Six Park are ideal. These platforms leverage algorithms and data to build diversified portfolios based on your risk appetite.

• Stockspot charges 0.55% on investments under $50,000, scaling down as your investment grows. Stockspot’s portfolios are constructed using low-cost ETFs, offering a balance of Australian shares, global shares, and bonds.

A Balanced Portfolio with Stockspot has returned approximately 8% p.a. over the past 5 years. An initial investment of $100,000 in 2019 could grow to $147,000 by 2024.

• Six Park offers a similar model but with a touch of human oversight. The management fees are 0.50% p.a. for balances under $250,000, and it focuses on building diversified portfolios using ETFs from sectors such as international stocks, bonds, and property.

A $200,000 investment in a Six Park Moderate Portfolio in 2018 would have grown to approximately $292,000 by 2024, assuming a historical return of around 7% p.a..

Pros: Diversified, automated, and hands-off with portfolios tailored to your risk level.

Cons: Slightly higher fees than DIY platforms, with limited flexibility in asset selection.

How to Choose the Right Platform for Your Needs

When committing a large sum to an investment platform, several key factors need to be weighed:

1. Brokerage fees: On large investments, brokerage fees can become a substantial cost. For example, if you plan to trade frequently, a platform like SelfWealth with a flat $9.50 per trade fee is far more advantageous than CommSec, which charges a percentage-based fee (0.11%) on trades over $10,000.

For a $100,000 trade, SelfWealth would cost just $9.50, whereas CommSec would charge $110.

2. Investment options: If you’re diversifying globally, platforms like CommSec offer access to both local and international stocks, while others like Raiz limit you to specific ETFs. For example, CommSec provides access to over 25 global markets, including the NYSE, NASDAQ, and LSE.

3. Ease of use: If you prefer a more hands-on, data-driven approach, platforms like CommSec or SelfWealth offer advanced features. However, if simplicity is a priority, especially when investing large sums with little time for active management, robo-advisors like Stockspot or Six Park offer automated solutions tailored to long-term growth.

4. Robo-advisors vs. DIY platforms: With larger investments, robo-advisors can offer diversification without the day-to-day stress of management. However, DIY platforms give you the flexibility to adapt to market conditions, which can be crucial for maximizing returns on substantial capital.

Popular Platforms Comparison

Let’s break down the specifics for each platform based on a large investment scenario:

1. CommSec: Suitable for experienced investors with significant capital. A $500,000 portfolio on CommSec, if split between Australian equities (e.g., BHP Group) and international stocks (e.g., Apple Inc), could expect annual returns of around 7-10% based on historical data, generating approximately $35,000 to $50,000 in gains annually. However, trading fees on such a portfolio could run up to $1,100 annually, assuming you make 10 trades of $100,000 each year.

2. SelfWealth: Ideal for high-frequency traders managing large sums. A $250,000 investment into ASX 200 ETFs, with an average annual return of 8%, would yield $20,000 in a year, while trading fees remain fixed at $9.50 per transaction.

3. Raiz: A hands-off, long-term strategy. If you invested $100,000 in a Raiz aggressive portfolio with monthly contributions of $1,000, you could see your portfolio grow to over $160,000 after 10 years, assuming an average annual return of 6%.

4. Stockspot: With a $1,000,000 portfolio in a balanced Stockspot portfolio, historical returns of around 8% could result in annual gains of $80,000. With Stockspot’s tiered fee structure, your management costs would be around $5,500 per year.

5. Pearler is designed for investors looking to adopt a long-term wealth-building approach, particularly using ETFs. It appeals to those who prefer a “set and forget” strategy.

• Fee Structure: $9.50 per trade for ASX stocks and ETFs. Pearler also offers free brokerage on trades with certain ETF providers (e.g., Betashares, Vanguard).

• Investment Options: Primarily ASX-listed shares and ETFs. It has a specific focus on ETF investments, which are ideal for diversified, long-term portfolios.

• Investing $250,000 in the Vanguard Australian Shares Index ETF (VAS), which tracks the ASX 300, can yield an annual return of 8-10% based on historical performance. After 10 years, this could grow to approximately $540,000 (assuming an 8% return).

6. IG Markets offers one of the most comprehensive platforms for investors who want to diversify across global assets and trade derivatives like CFDs, in addition to traditional shares and ETFs.

• Fee Structure: Share trading fees for ASX start at $5 for smaller trades, and US shares can be traded with no commission. CFD fees depend on spread and margin requirements.

• Investment Options: IG Markets provides access to over 17,000 global markets, including shares, ETFs, indices, commodities, and currencies.

• A $500,000 diversified investment across global shares and CFDs could yield annual returns ranging from 10-15%, providing potential gains of $50,000 to $75,000 per year, depending on market conditions and investment strategy.

7. CMC Markets is another strong contender for sophisticated investors looking to trade across various asset classes, including shares, ETFs, and CFDs. It offers advanced tools and insights for high-volume traders.

• Fee Structure: ASX share trades start at $11 per trade. CFD trading involves additional fees based on the spread and leverage used.

• Investment Options: ASX and international shares, ETFs, commodities, indices, and CFDs.

• A $300,000 investment in the ASX 200 or diversified global ETFs can expect returns between 7-9% annually, resulting in gains of $21,000 to $27,000 per year.

8. Nabtrade is a comprehensive trading platform by National Australia Bank, suited for investors who value detailed research and integrated banking features, making it convenient for those looking to manage larger portfolios.

• Fee Structure: $14.95 for trades up to $5,000; $19.95 for trades up to $20,000.

• Investment Options: Wide range of investment options, including local and international shares, ETFs, bonds, hybrid securities, and managed funds.

• A $500,000 portfolio split between ASX shares and bonds might yield 6-8% annually, translating to returns of $30,000 to $40,000 per year.

9. Bell Direct appeals to active traders who want to minimize their trading costs. It provides in-depth market research and personalized investment insights, making it ideal for those managing significant portfolios.

• Fee Structure: $15 per trade for transactions up to $10,000; $25 for trades above $10,000.

• Investment Options: Primarily ASX shares, ETFs, and derivatives.

• A $300,000 investment in ASX blue-chip stocks like BHP or CSL can produce average annual returns of 7-9%, translating into gains of $21,000 to $27,000 per year.

10. Interactive Brokers is renowned for offering access to a wide variety of global markets and low trading fees. It’s a great platform for sophisticated investors who wish to trade international assets and have access to advanced trading tools.

• Fee Structure: $0 commission on US stocks; tiered pricing for Australian shares, starting at $5 per trade.

• Investment Options: Over 135 global markets, including stocks, ETFs, options, futures, bonds, and forex.

• A $1,000,000 portfolio diversified globally could yield returns between 8-12%, generating annual returns of $80,000 to $120,000.

11. eToro is well-known for its social trading feature, where users can follow and copy the trades of top-performing investors. It’s particularly appealing to new investors who want to mimic experienced traders’ strategies.

• Fee Structure: 0% commission on US stocks. It charges spreads for other asset classes like forex and crypto.

• Investment Options: Wide range of assets, including stocks, ETFs, cryptocurrencies, commodities, and forex.

• Following a high-performing investor on eToro who achieves 15% annual returns, a $200,000 investment could grow to $460,000 over 10 years.

12. Stake is a platform focused on providing Australian investors with easy access to US stocks and ETFs. Its commission-free trading structure makes it especially appealing for those wanting to invest in US companies like Apple, Tesla, and Amazon.

• Fee Structure: 0% commission on US trades, but a 0.5% FX conversion fee when depositing or withdrawing AUD.

• Investment Options: Over 6,000 US stocks and ETFs.

• A $500,000 investment in major US tech stocks could yield annual returns of 10-15%, resulting in annual gains of $50,000 to $75,000, depending on market performance.

13. Wealthfront is a robo-advisor platform known for offering automated, diversified portfolios. Although primarily focused on US markets, its model provides insight into automated investing strategies that Australian investors might consider through local robo-advisors.

• Fee Structure: 0.25% management fee.

• Investment Options: Automated portfolios of global stocks, bonds, and real estate.

• A $100,000 investment in a diversified Wealthfront portfolio could yield returns of 7-8% p.a., growing to $196,000 over 10 years.

14. Superhero is a low-cost platform offering commission-free trading on US stocks and minimal fees on ASX trades. It appeals to investors seeking to invest small or large sums into Australian and US markets.

• Fee Structure: $5 per trade for ASX shares; 0% commission on US shares.

• Investment Options: ASX and US shares, ETFs, and some managed funds.

• A $200,000 investment in Australian equities, such as the ASX 200, could yield 7%, providing annual returns of $14,000.

15. Saxo Markets offers an extensive range of investment options, from shares to forex and CFDs, catering to sophisticated investors who want global exposure and access to advanced trading tools.

• Fee Structure: ASX trades start at $6.99 per trade.

• Investment Options: Over 40,000 financial instruments, including global shares, bonds, commodities, and derivatives.

• A $1,000,000 portfolio in diversified global stocks could generate annual returns of 10-12%, equating to $100,000 to $120,000 in annual gains.

16. CommSec Pocket is ideal for beginner and micro-investors. It allows users to invest small amounts into diversified ETFs with very low fees, making it a great entry point for building wealth over time.

• Fee Structure: $2 brokerage for investments up to $1,000.

• Investment Options: Seven ETF options, focusing on themes such as sustainability, global technology, and Australian shares.

• A $10,000 investment in the Global Sustainability ETF (ETHI) could yield 8% p.a., growing to $21,600 over 10 years.

Westpac’s platform offers a comprehensive trading solution, with a range of investment options and access to detailed research from Westpac.

• Fee Structure: $19.95 for trades up to $5,000.

• Investment Options: ASX and international shares, ETFs, managed funds, and more.

• A $250,000 investment in blue-chip ASX shares could generate 6-7% p.a., resulting in $15,000 to $17,500 in annual returns.

17. Sharesies has emerged as a platform aimed at making investing accessible for everyone, with the ability to invest small amounts in Australian and US stocks.

• Fee Structure: $5 per month subscription, with brokerage fees based on trade size.

• Investment Options: Australian, US stocks, and ETFs.

• A $10,000 investment in a tech-heavy portfolio could yield 10-12% p.a., growing to $31,000 over 10 years.

Common Pitfalls and Mistakes to Avoid

Investors, particularly those managing larger portfolios, should be wary of these common errors:

• Overtrading: Excessive trading not only increases costs but can also

lead to poor market timing. For instance, frequent trading on CommSec could lead to significant brokerage fees and missed opportunities for compounding returns.

• Not understanding fees: High-frequency traders may not realize how quickly fees accumulate. On a platform like CommSec, multiple trades of $100,000 each month could result in $1,200+ annually in fees alone. Additionally, for international investors, currency conversion fees can erode returns significantly.

• Ignoring long-term growth: Set-and-forget strategies, particularly through ETFs or diversified portfolios, can often outperform active trading, especially for large sums. Investing $1,000,000 in a globally diversified ETF portfolio at 7% compounded annually could grow to over $1.96 million in 10 years, without the need for frequent trading or market timing.

The Bottom Line

When it comes to selecting an investing platform, particularly for large sums, aligning the platform with your financial goals, risk tolerance, and preferred trading style is paramount. Whether you opt for the control offered by CommSec or SelfWealth, the automation of Stockspot, or the simplicity of Raiz, each platform offers distinct advantages depending on how hands-on or hands-off you want to be. Carefully weigh the pros and cons of fees, accessibility, and market options to ensure that your wealth-building strategy is optimized for the long term.

FAQ (Frequently Asked Questions)

What are the top investing platforms in Australia for 2024?

When investing large sums of money, it is essential to select platforms that offer robust features, security, and the potential for significant returns. In Australia, some of the top platforms for 2024 include:

1. CommSec: As Australia’s largest broker, CommSec offers advanced research tools, access to IPOs, and seamless integration with Commonwealth Bank accounts. For large investments, CommSec’s detailed market analysis and sophisticated charting tools make it ideal. However, it charges brokerage fees of $19.95 for trades up to $10,000 and $29.95 for larger trades.
   
   

• If you invest $500,000, expect brokerage fees of $1,497.50 for 50 trades at $29.95 each.

2. SelfWealth: Known for its low-cost trading structure, SelfWealth charges a flat fee of $9.50 per trade, regardless of the investment amount. This makes it attractive for investors making multiple large trades, as fees remain minimal compared to percentage-based platforms.
   
   

• Investing $500,000 spread across 100 trades would cost you $950 in brokerage fees, significantly lower than CommSec.

3. Stake: Stake allows Australians to invest in U.S. markets with zero-commission trades, making it a strong option for investors seeking international exposure. However, there is a 0.7% FX fee on currency conversions, which can add up with large transactions.
   
   

• A $500,000 investment in U.S. stocks would incur a $3,500 FX fee, but no commission on individual trades.

4. CMC Markets: Offering both Australian and international stocks, CMC Markets is known for its low brokerage fees (as low as $11 or 0.10% for trades up to $10,000) and access to advanced trading platforms. For large-scale investments, CMC’s depth of market data and tools are particularly useful.
   
   

• Investing $500,000 in 50 trades would cost $5,000 at 0.10% per trade, or as low as $550 with $11 trades if you’re investing smaller amounts in each trade.

5. Superhero: Superhero stands out with its low $5 brokerage fee for ASX-listed shares, making it another good option for investors looking to minimize transaction costs. Its platform is user-friendly, with excellent features for retail investors who want to take control of their portfolios.
   
   

• If you made 100 trades with a $500,000 investment, your total brokerage fees would be $500.

Which platform is best for beginner investors in Australia?

For beginner investors dealing with a large sum, platforms with intuitive interfaces and built-in guidance are ideal. The best options include:

1. Raiz: With its micro-investing model, Raiz invests spare change into diversified portfolios, and it works well for first-time investors. While it might seem small-scale, even larger amounts can be invested over time. Raiz charges a flat fee of $3.50/month for accounts under $15,000 and 0.275% for amounts above.
   
   

• A $500,000 investment would cost you around $1,375 in annual fees.

2. Spaceship: Spaceship offers diversified managed portfolios with low fees of 0.05%–0.10% for accounts above $100,000. This platform simplifies the process, making it appealing for beginner investors seeking hands-off management while retaining control of their investments.
   
   

• For a $500,000 investment, you’d pay around $250–$500 per year in management fees.

3. CommSec Pocket: With a $50 minimum investment, CommSec Pocket offers access to a small selection of ETFs with brokerage fees of $2 for investments up to $1,000. It’s a beginner-friendly option but less suited for larger amounts as its offerings are more limited than its full CommSec platform.
   
   

• With a $500,000 investment, expect to pay around $1,000 in brokerage fees if investing in $1,000 increments.

What are the fees associated with Australian investing platforms?

Fees can make a substantial difference when investing large sums. Here’s a breakdown:

1. CommSec: Charges $19.95 for trades up to $10,000 and $29.95 above that. For larger investments, this fee can escalate quickly.
   
   

• For a $500,000 investment made over 100 trades, fees would amount to $2,995.

2. SelfWealth: Offers a flat fee of $9.50 per trade, making it highly cost-effective for large investments.
   
   

• For 100 trades, you would pay only $950.

3. Stake: Zero-commission for U.S. stocks, but a 0.7% FX fee applies.
   
   

• A $500,000 investment in U.S. stocks would incur a $3,500 FX fee.

4. Raiz: 0.275% fee for large balances, making it affordable for hands-off investing.
   
   

• A $500,000 investment would cost $1,375 annually.

Are there platforms that offer zero-commission trades in Australia?

Zero-commission trading is mostly limited to U.S. stock trading on platforms like Stake and Superhero. For Australian stocks, SelfWealth and Superhero charge flat fees instead of percentage-based brokerage. Large-scale investors benefit from reduced costs but should still consider FX fees and other hidden costs.

• For a $500,000 portfolio in U.S. stocks via Stake, there are no direct commissions, but the 0.7% FX fee applies, which would amount to $3,500.

How does CommSec compare to other trading platforms?

CommSec is a robust platform with a range of advanced tools, market research, and access to ASX IPOs. However, it is more expensive than platforms like SelfWealth or Stake, which focus on low-cost trading. The extensive market data CommSec provides can be invaluable for large-scale investors seeking in-depth analysis, though it comes at a higher cost.

• For a $500,000 investment spread over 50 trades, CommSec’s fees could be as high as $1,497.50, compared to $475 on SelfWealth.

Which platform has the lowest brokerage fees for Australian stocks?

SelfWealth offers the lowest brokerage fees for Australian stocks at $9.50 per trade. Platforms like Superhero ($5 per trade) provide even cheaper options but lack some advanced features that seasoned investors might need.

• Investing $500,000 with SelfWealth would cost $950 in brokerage fees for 100 trades, while Superhero would cost $500 for the same number of trades.

Can I invest in international markets using Australian platforms?

Yes, platforms like Stake, CommSec, and CMC Markets offer access to international stocks. Stake focuses on U.S. markets with zero commissions, while CMC Markets and IG Markets provide broader access to U.S., European, and Asian equities.

• A $500,000 investment in U.S. markets via Stake would incur only FX fees, while CMC Markets may charge around 0.10% in brokerage fees for international trades.

Which platforms offer fractional investing in Australia?

Fractional investing allows investors to buy small portions of expensive stocks, and platforms like Stake, Spaceship, and Raiz offer this feature. Fractional shares are particularly useful for investing in high-priced U.S. stocks like Amazon or Google.

• A $500,000 investment in fractional U.S. shares on Stake would incur a 0.7% FX fee but allow access to stocks otherwise inaccessible.

How do automated investing platforms like Raiz and Syfe work?

Automated investing platforms like Raiz and Syfe use algorithms to manage diversified portfolios. Raiz invests small amounts from everyday purchases, while Syfe offers tailored portfolios for larger investments. These platforms charge low management fees and are ideal for investors who prefer a hands-off approach.

• A $500,000 investment in Raiz would incur a 0.275% fee, costing $1,375 per year.

What security measures do Australian investment platforms offer?

Most Australian platforms, such as CommSec and SelfWealth, employ two-factor authentication (2FA), data encryption, and segregation of client funds to enhance security. Raiz and Stake use biometric authentication for added safety. Ensuring that your platform is ASIC-regulated is crucial when investing large sums.

How do platforms like eToro and Webull compare for Australian users?

Platforms like eToro and Webull offer access to international markets and advanced trading tools. eToro excels in social trading, allowing users to mimic the trades of successful investors, while Webull is more suited for experienced traders who want detailed charting and analysis tools.

• A $500,000 investment on eToro could be diversified across multiple markets with access to both stocks and cryptocurrencies.

Is it better to use a bank-affiliated platform or a specialized trading platform?

Bank-affiliated platforms like CommSec offer convenience and trust, especially when dealing with large sums, but come with higher fees. Specialized platforms like SelfWealth or Stake offer lower costs and are often better suited for investors seeking to minimize fees on large transactions.

Which platforms are best for active or day traders in Australia?

For active or day traders, platforms that provide real-time data, advanced charting, and low-cost transactions are essential. The top platforms for frequent trading include:

1. CMC Markets: This platform offers competitive pricing with brokerage fees as low as $11 or 0.10%, alongside access to premium trading tools like advanced charting and extensive market data. CMC Markets is ideal for traders who need in-depth market analysis and fast execution.
   
   

• If you execute 50 trades with $500,000, assuming an average trade size of $10,000, your total brokerage fee could be around $550 at $11 per trade or $5,000 if calculated at 0.10%.

2. Interactive Brokers: Renowned for its low fees and access to global markets, Interactive Brokers charges 0.08% per trade or $6 minimum. This makes it highly cost-effective for frequent traders looking for low-cost execution and access to both domestic and international markets.
   
   

• For $500,000 split across 50 trades, you would pay $6 per trade, totaling $300.

3. IG Markets: Known for its powerful trading platform and competitive fees, IG Markets allows access to Australian and international stocks, as well as forex and commodities. It’s particularly useful for day traders looking for multi-asset class exposure.
   
   

• If you invest $500,000 and execute 100 trades, you could be paying as low as $800 in fees at 0.10% per trade.

4. SelfWealth: Although primarily targeted at long-term investors, SelfWealth’s flat fee of $9.50 per trade makes it attractive for day traders looking to minimize transaction costs on Australian stocks.
   
   

• 50 trades would cost just $475 in fees for a $500,000 portfolio.

5. eToro: Known for its social trading features, eToro also offers commission-free trading for certain stocks, which is particularly appealing for active traders who want to follow successful investors and trade regularly without being burdened by fees.
   
   

• With zero-commission trades, your only cost might be FX conversion fees if investing in U.S. stocks or other international markets.

What platforms allow access to US and European markets?

For investors looking to access U.S. and European markets, several Australian platforms provide this capability:

1. Stake: Stake specializes in U.S. stocks and ETFs, offering commission-free trading with a 0.7% FX fee. It’s perfect for those focusing on U.S. equities like Amazon, Google, or Tesla.
   
   

• A $500,000 investment in U.S. stocks would incur a $3,500 FX fee but no commission on trades.

2. Interactive Brokers: With access to over 135 global markets, Interactive Brokers is one of the most comprehensive platforms for international investing, charging 0.08% or $6 minimum per trade.
   
   

• If you invest $500,000 across U.S. and European markets, fees for 50 trades would range around $300.

3. CMC Markets: Offering both U.S. and European markets, CMC Markets has competitive international trading fees, charging 0.10% per trade. It’s ideal for those seeking diversified exposure across different regions.
   
   

• For a $500,000 investment, assuming 100 trades across international markets, you would pay approximately $5,000 in fees.

4. eToro: eToro provides access to U.S., European, and other international stocks, alongside cryptocurrencies and commodities. Its commission-free structure on U.S. stocks makes it appealing for investors who want to diversify globally without incurring high costs.

5. Saxo Capital Markets: Saxo offers access to over 40 international exchanges, including those in the U.S., Europe, and Asia. With competitive FX fees and robust research tools, Saxo is another strong option for international market exposure.
   
   

• A $500,000 investment in various international markets via Saxo could incur fees of around 0.10% per trade.

How do I transfer my portfolio between platforms, and are there fees?

Transferring a portfolio between platforms is typically known as an in-specie transfer, where your holdings are transferred without needing to sell and repurchase them. However, not all platforms support this, and fees can vary:

1. CommSec: CommSec allows in-specie transfers between its accounts and external brokers. The fees for transferring portfolios vary, and some platforms may not charge for the service, while others could levy transfer fees.
   
   

• Transferring $500,000 worth of shares between platforms might incur fees of around $25–$100 per holding.

2. SelfWealth: Supports in-specie transfers with no fees, making it a good option if you’re moving large portfolios.

3. Stake: Stake also offers free in-specie transfers for U.S. stocks but may charge fees for other holdings or require you to sell and rebuy assets if moving between different markets.

4. CMC Markets: Allows portfolio transfers, and while some transfers are free, there may be charges depending on the type of securities and where they are held.
   
   

• For a $500,000 portfolio, expect to pay up to $100–$200 in transfer fees depending on the holdings.

5. Saxo: Saxo Capital Markets allows portfolio transfers but may charge between $50 and $200 per stock, depending on the size and type of asset being transferred.

What are the pros and cons of using low-cost trading platforms like SelfWealth?

Low-cost platforms like SelfWealth offer several advantages and a few drawbacks, especially for investors managing large sums:

Pros:

1. Low Fees: SelfWealth charges a flat $9.50 per trade, which is significantly lower than other percentage-based platforms. This means that large investors save on transaction costs.

• For a $500,000 portfolio with 100 trades, the total cost would be just $950.

2. Simple Interface: SelfWealth’s platform is user-friendly and accessible, making it suitable for both beginner and seasoned investors.

3. Community Features: SelfWealth includes a social aspect where you can track other investors’ performance, which can provide additional insight.

Cons:

1. Limited Features: Unlike platforms like CommSec or CMC Markets, SelfWealth doesn’t offer the same depth of research tools or advanced charting options, which can be a drawback for sophisticated investors managing large portfolios.

2. No International Trading: SelfWealth only offers access to the ASX, meaning large investors who want to diversify into global markets will need a secondary platform.

How do Australian platforms handle cryptocurrency investments?

Several Australian platforms are beginning to incorporate cryptocurrency as part of their offering:

1. eToro: eToro allows Australians to invest in a wide range of cryptocurrencies, including Bitcoin, Ethereum, and altcoins. Its user-friendly interface makes it easy to integrate crypto into a broader portfolio.

2. Swyftx: Swyftx is a dedicated cryptocurrency platform that offers low fees, advanced trading tools, and access to over 270 cryptocurrencies. For large-scale investments in crypto, Swyftx provides institutional-grade security and low spreads.
   

• Investing $500,000 in cryptocurrencies through Swyftx would cost around 0.6% in fees, totaling $3,000.

3. CoinSpot: CoinSpot is one of Australia’s most popular crypto exchanges, offering access to over 300 digital assets. With a 1% trading fee, it’s a secure and easy-to-use platform.

4. Binance Australia: Binance is the largest global cryptocurrency exchange and allows Australians to trade a wide array of crypto assets at very low fees (0.10%).
   
   

• A $500,000 investment on Binance would cost just $500 in trading fees at 0.10%.

5. Raiz: Raiz recently introduced a portfolio that includes cryptocurrency exposure, allowing for automatic investments in a diversified portfolio, including a small portion of Bitcoin.
   
   

• For a $500,000 portfolio, you could invest in a diversified crypto portfolio with Raiz for a 0.275% annual fee, costing $1,375 per year.

Originally Published: https://www.starinvestment.com.au/top-investing-platforms-australia-comparison/