Share Trading Accounts Australia
Share Trading Account Comparison
COMPANY | ONLINE ASX TRADES | MIN/MAX TRADES | MIN DEPOSIT | MARGINS | OPTIONS | INTERNATIONAL TRADES | Apply |
Trade from as little as $20.00 per trade^^ - CFD's and Margin Lending available |
| $5,000 | - | - | - |
| |
$32.95 (trades up to $30,000) | Min 21 trades per month = $21.95; Max 10 trades per month = $32.95 per month | Nil | $32,95 (trades up to $30,000) | $44.95 (trades up to $8.172) | N/A |
| |
$32.95 (trades up to $30,000) | Min 21 trades per month = $21.95 | Nil | $32.95 (trades up to $30,000) | $44.95 (trades up to $8,172) | $119.90 (trades up to $40,370) |
| |
$15 | Min 21 trades per month = $21.95; | Nil | N/A | N/A | N/A |
|
The advent of online trading has demystified the share market for many new investors, providing a convenient and much cheaper way to invest in both the domestic and international money markets, as well as a host of managed funds. Thanks to the online trading boom, people with as little as $1000 are now able to invest in the share market free from the big fees charged by traditional full service brokers.
And as the demand for online trading grows, so too does the number of Australian based sites offering the service. All of the major banks have established online trading operations, from Commsec to Westpac Broking, National Online Broking and St George directshares, with ANZ tying its operations to E*TRADE Australia (an offshoot of its pioneering US parent company), as well as Macquarie with their edge and Prime options.
Online brokerage fees can start from under $20 a trade – hugely cheaper than the hundreds of dollars generally charged by full service brokers. And depending on the type of trading platform provided by the site, this fee can include a wealth of up to date research and market news, placed at your fingertips by the site's software.
Many of these sites also contain more sophisticated features such as conditional orders. These allow you to set specific conditions for particular stocks which, if met, will trigger an automatic 'buy' or 'sell' order. This means the prospective trader doesn't need to remain tied to the computer monitoring the market.
However the main reason online trading sites are able to provide such discounted brokerage rates is because they don't offer the kind of 'hands on' investment advice traditionally offered by a full service broker. As such, new investors are advised to do their homework before choosing an online trader.
Below is a basic table of the fees and services provided by some of the Australian market's major online trading providers. Note that their brokerage rates are based around the frequency of trading, so investors should be aware of where they fall within these categories:
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