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Best international online brokers in Australia in 2023

Interactive Brokers Logo
1st place
Interactive Brokers
eToro Logo
2nd place
eToro
Visit broker
Your capital is at risk
Saxo Bank Logo
3rd place
Saxo Bank

Top 5 picks for best international online brokers in Australia in 2023:


  1. Interactive Brokers is the best international online brokers in Australia in 2023. - Low trading fees. Wide range of products. Many great research tools.
  2. eToro - Free stock and ETF trading. Seamless account opening. Social trading.
  3. Saxo Bank - Great trading platform. Outstanding research. Broad product portfolio.
  4. Capital.com - Low forex CFD fees and commission-free real stocks. Great account opening experience. Excellent email and chat support.
  5. Alpaca Trading - Great API trading service. Free stock & ETF trading. Fantastic charting tools.

How did we select the best international online brokers in Australia in 2023?

  • We checked whether the broker is regulated by a trusted regulator,
  • Compared fees (including spreads, withdrawal fees, commissions),
  • We checked and compared every aspect of their services,
  • Opened an account and tested the platform (charting, features, usability) with real money.
Save hours of research!
Our expert team has done all the work for you, and reviewed brokers based on BrokerChooser's unique methodology.
Now let's jump straight to the results.

Best international online brokers in Australia in 2023
International online brokers' key info

While many international online trading brokers offer an excellent service, the ones in our toplist go the extra mile. These international online trading platforms offer a broad range of markets and asset classes and are suitable for beginners and experienced traders alike.

Best online brokers in 2023
Interactive Brokers eToro Saxo Bank Capital.com Alpaca Trading
Overall score 4.9 stars 4.9 stars 4.8 stars 4.6 stars 4.7 stars
Minimum deposit $0 $10 $2,000 $20 $0
Time to open account 1-3 days 1 day 1 day 1 day 1 day

Best international online brokers in Australia in 2023
Fee comparison of the best online brokers in Australia

In most cases, the key broker selection criteria is how much you have to pay for a trade in spreads, commission and other trading costs, so we collected the most important fees for you in the table below.

Fees at the best international online brokers in January 2023
Interactive Brokers eToro Saxo Bank Capital.com Alpaca Trading
US stock $1.0 $0.0 $10.0 - $0.0
UK stock $3.4 $0.0 $9.0 - -
EURUSD spread 0.1 1.0 0.7 0.6 -
US stock index options $6.5 - $30.0 - -
Mutual fund $15.0 - $0.0 - -
S&P 500 index CFD fee $3.3 $3.1 $3.1 $2.5 -

Best international online brokers in Australia in 2023
Other fees at international online brokers

Non-trading fees are charges not directly related to a given trade and typically include the account maintenance fee, deposit/withdrawal fees, and the inactivity fee.

Interactive Brokers eToro Saxo Bank Capital.com Alpaca Trading
Account fee No No No No No
Inactivity fee No Yes Yes No No
Withdrawal fee $0 $5 $0 $0 $0
Deposit fee $0 $0 $0 $0 $0
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Best international online brokers in Australia in 2023
Market regulation and safety in Australia

Brokers operating in Australia are overseen by the Australian Securities & Investments Commission (ASIC). ASIC is Australia's corporate, markets and financial services regulator. It is an independent Australian Government body. It regulates financial services, consumer credit and authorized financial markets operating in Australia and its mandate includes rooting out fraudulent activities and scams among services providers.

The nation's currency is the Australian dollar (AUD), which ranks among the top five most traded currencies globally. The AUD exchange rate is highly volatile as the currency's value is closely linked to commodity prices (Australia is rich in natural resources), which also fluctuate quite widely. The Australian Securities Exchange (ASX) is the largest stock market in Australia. It is headquartered in Sydney and is the 11th largest stock exchange in the world by market capitalization. ASX offers trading in major stocks, ETFs, derivatives, fixed income, commodities and energy, and holds more than 80% of the market share of the Australian cash equity market.

The Australian Securities Exchange (ASX) is the largest stock market in Australia and the 11th largest stock exchange in the world by market capitalization. ASX offers trading in major stocks, ETFs, derivatives, fixed income, commodities and energy, and holds more than 80% of the market share of the Australian cash equity market.

Best international online brokers in Australia in 2023
Taxation of trading in Australia

In Australia, you need to pay tax on profits you made from trading. This is called a capital gains tax (CGT), and under Australian law it is part of your income tax. The rate of tax varies depending on the type of trading activity and your tax bracket.

The CGT rate ranges from 19% to 45% for resident taxpayers. Non-residents are subject to tax of 32.5% levied on the first AUD 120,000 of their income, while any remaining amount is taxed at rates ranging from 37% to 45%.

Best international online brokers in Australia in 2023
Our assessment of best international online brokers for residents in Australia in 2023

At BrokerChooser we do our best to make it easier for you to compare and select the best broker for your needs. Here is a summary of our scores in the most important aspects of these trading platforms' services.

Score summary of best international online brokers for residents in Australia
Interactive Brokers eToro Saxo Bank Capital.com Alpaca Trading
Overall score 4.9 stars 4.9 stars 4.8 stars 4.6 stars 4.7 stars
Fees score 4.5 stars 4.2 stars 3.0 stars 4.3 stars 4.8 stars
Mobile platform score 3.5 stars 4.9 stars 5.0 stars 4.9 stars 4.2 stars
Deposit and withdrawal score 3.0 stars 3.8 stars 4.8 stars 4.5 stars 1.8 stars
Account opening score 3.2 stars 5.0 stars 4.3 stars 5.0 stars 4.8 stars

If you are unsure how brokerage fees are charged, check out this article on the various fees, charges and costs.

And now, let's see the top international online brokers for 2023 for residents in Australia in detail one by one, starting with the winner, Interactive Brokers.

Interactive Brokers Logo

#1 Best international online broker in Australia in 2022
Interactive Brokers

Recommended for traders looking for broad market access and a professional trading environment

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Interactive Brokers snapshot
Minimum deposit $0
Fees class Low
Deposit method Bank transfer
Withdrawal method Bank transfer
Withdrawal fee $0
Time to open account 1-3 days
Inactivity fee No
Read review For a detailed analysis of Interactive Brokers services, check out our review for 2023
eToro Logo

#2 Best international online broker in Australia in 2022
eToro

Recommended for traders interested in social trading (i.e. copying other investors’ trades) and zero commission stock trading

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Your capital is at risk

eToro snapshot
Minimum deposit $10
Fees class Low
Deposit method Bank transfer, Credit/debit cards, PayPal, Skrill, Neteller, China UnionPay, Klarna, POLi, iDEAL
Withdrawal method Bank transfer, Credit/debit cards, PayPal, Skrill, Neteller, China UnionPay, Klarna, POLi, iDEAL
Withdrawal fee $5
Time to open account 1 day
Inactivity fee Yes
Read review For a detailed analysis of eToro services, check out our review for 2023
Saxo Bank Logo

#3 Best international online broker in Australia in 2022
Saxo Bank

Recommended for investors and traders looking for a great trading platform and solid research

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Saxo Bank snapshot
Minimum deposit $2,000
Fees class Average
Deposit method Bank transfer, Credit/debit cards
Withdrawal method Bank transfer
Withdrawal fee $0
Time to open account 1 day
Inactivity fee Yes
Read review For a detailed analysis of Saxo Bank services, check out our review for 2023
Capital.com Logo

#4 Best international online broker in Australia in 2022
Capital.com

Recommended for investors and cfd traders looking for a great trading platform and excellent customer service

Visit broker
87.41% of retail CFD accounts lose money

Capital.com snapshot
Minimum deposit $20
Fees class Low
Deposit method Bank transfer, Credit/debit cards, Apple Pay, PayPal
Withdrawal method Bank transfer, Credit/debit cards, Apple Pay, PayPal
Withdrawal fee $0
Time to open account 1 day
Inactivity fee No
Read review For a detailed analysis of Capital.com services, check out our review for 2023
Alpaca Trading Logo

#5 Best international online broker in Australia in 2022
Alpaca Trading

Recommended for traders interested in algorithmic stock trading

Visit broker

Alpaca Trading snapshot
Minimum deposit $0
Fees class Low
Deposit method Bank transfer
Withdrawal method Bank transfer
Withdrawal fee $0
Time to open account 1 day
Inactivity fee No
Read review For a detailed analysis of Alpaca Trading services, check out our review for 2023

Best international online brokers in Australia in 2023
FAQ

Which is the cheapest broker in Australia?

There is no such thing as the cheapest broker in Australia. Brokers charge many types of fees and their amount varies from broker to broker. There is strong competition among brokers in terms of fees and some focus specifically on low fees. Low cost brokers in Australia include Stake and eToro.

Which broker is the best in Australia?

The top brokers in Australia are:

  1. Interactive Brokers - Low trading fees. Wide range of products. Many great research tools.
  2. eToro - Free stock and ETF trading. Seamless account opening. Social trading.
  3. Saxo Bank - Great trading platform. Outstanding research. Broad product portfolio.
  4. Capital.com - Low forex CFD fees and commission-free real stocks. Great account opening experience. Excellent email and chat support.
  5. Alpaca Trading - Great API trading service. Free stock & ETF trading. Fantastic charting tools.

Author of this article

Ádám Nasli

Author of this article

Ádám worked in banking and investment, and holds a professional degree in this field. He is a motivated finance expert, having joined BrokerChooser in 2018. He's also eager to help people find the best investment provider for them, and to make the investment sector as transparent as possible. In his spare time, he loves learning new things, especially data science, algo trading, programming and trading.

Ádám Nasli

Analyst Head

Ádám worked in banking and investment, and holds a professional degree in this field. He is a motivated finance expert, having joined BrokerChooser in 2018. He's also eager to help people find the best investment provider for them, and to make the investment sector as transparent as possible. In his spare time, he loves learning new things, especially data science, algo trading, programming and trading.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

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