Trading’s popularity has skyrocketed in Australia in recent years, especially among younger people seeking non-traditional means of increasing their money. It is essential to have access to a reliable trading platform, whether you are a beginner or an expert trader. Plus, we’re here to guide those who are stumped and need help with how to proceed. Below is a compilation of the platforms we consider the best online trading platform Australia.
To invest in local firms listed on the ASX, Australian citizens can use the ANZ share trading platform. More than 2,000 local equities are available via ANZ. Because of ANZ’s connectivity to foreign markets, investors may readily purchase equities from the United States and other countries. There is a wide variety of exchange-traded funds (ETFs) available at ANZ, in addition to equities. The ANZ offers two different trading platforms. The standard client interface makes it easy for newcomers to buy and sell assets. The professional-client interface is more feature-rich and suitable for seasoned investors.
Capital.com is a top choice among Australian share trading platforms regarding CFDs or contracts for differences. These derivatives allow investors to bet on the direction of a market without actually purchasing the underlying asset. Thousands of financial products across several asset classes are available for trade on the Capital.com platform. That encompasses almost 5,400 individual stocks, 470 cryptos, 130 currency pairings, 470 crypto marketplaces, and 23 indexes. All markets offered by Capital.com are commission-free. Leverage trading is coming to Capital.com as well.
The market will determine the precise leverage ratio that is made available. For example, a leverage of 1:30 can be used to trade the most popular currency pairings. Whereas the balance for crypto assets is capped at 1:1. However, consumers can go long or short on Capital.com because the company focuses on CFDs that only monitor the underlying asset’s value.
However, Coinbase is another excellent option for digital trading currencies. Newcomers to digital trading currencies like Bitcoin and Ethereum may do it safely and efficiently on this platform. Due to Coinbase’s user-friendly design, opening a trading account takes only a few minutes, making it ideal for cryptocurrency newcomers.
Coinbase’s major flaw is that its costs are significantly higher than those of other cryptocurrency exchanges like eToro and Crypto.com. For example, a 1.49% fee is applied to transactions above $200 when purchasing or selling crypto assets. A flat rate will be used if your order is less than $200.
Coinbase’s high deposit processing costs are in addition to its high commission rates. That amounts to $39.90 for every $1,000 deposited, or 3.90% of the transaction value. This cost is only 0.50% at eToro. Moreover, traders must factor in the spread on Coinbase, which is the premium added to the token’s ask price above the bid price.
Some Unique Features of easyMarkets
The substantial risk of loss caused by market volatility can be mitigated using leverage while trading on easyMarkets. Users’ leverage on the easyMarkets platform is determined by their account type, the asset they want to change, and the applicable regulator. In the European Union, traders may make use of a leverage of 30:1 according to CySEC regulation, while Australian traders can use a leverage of 1:400 thanks to ASIC oversight. The broker’s website should have all the information you need for particular influence versus various situations.
When you use the easyMarkets platform to trade forex, you’ll have 24/7 access to a wealth of instructional materials in your account. The whole research section is broken down into discrete subheadings for your convenience.
To help novice traders get started, easyMarkets provides a wealth of instructional materials. Trading methods and risk management are just two of the many topics covered in its many informative articles, video guides, and electronic books.
- Learn about CFD trading at no cost with easyMarkets Academy’s training videos.
- The Discover Series features entertaining and educational movies covering topics including trading psychology and the most traded instruments.
- Traders may access free eBooks that cover all aspects of internet trading, including vanilla options.
- If you’re interested in learning more about how to market mood, policy shifts, and geopolitical instability impact the foreign exchange markets, check out the articles in our Knowledge Base. The jargon of the trading world is also explained here.
- Traders can get answers to their most often-asked inquiries in FAQs.