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Best international online brokers in Australia in 2024

Written by
Adam N.
Fact checked by
Updated
2w ago
Dive into our toplist of regulated and trusted brokers that we tested with real money. Every broker is available in Australia.

Find below the strengths of the best brokers available in Australia, updated for 2024:

  1. Interactive Brokers is the best international online brokers in Australia in 2024. - Extremely low fees. Wide range of products. Many great research tools.
  2. Saxo - Great trading platform. Outstanding research. Broad product portfolio. Interest paid on uninvested cash.
  3. eToro - Free stock and ETF trading. Seamless account opening. Social trading.
  4. moomoo - Commission-free stock and ETF trading. Fast and easy account opening. Quality analytical tools and excellent education services. Pays high interest on uninvested cash.
  5. Oanda - Great trading platforms. Outstanding research tools. Fast and user-friendly account opening.
  6. Webull - Free stock/ETF trading and high 5% interest on uninvested cash. Fast and easy account opening. Great trading platforms.
  7. Admirals (Admiral Markets) - Low forex CFD fees. Free and fast deposit and withdrawal. Straightforward account opening.
  8. NinjaTrader - Low trading fees. Great platform and research. Quality educational materials.
  9. IG - First-class web trading platform. Superb educational tools. Great deposit and withdrawal options.
  10. City Index - Low fees for forex. Fast and smooth account opening. Diverse research tools.
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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.

Broker
Overall score
Minimum deposit
Interactive Brokers
4.9
/5
$0
Saxo
4.9
/5
$0
eToro
4.8
/5
$10
moomoo
4.6
/5
$0
Oanda
4.5
/5
$0
Webull
4.5
/5
$0
Admirals (Admiral Markets)
4.5
/5
$100
NinjaTrader
4.5
/5
$0
IG
4.5
/5
$0
City Index
4.5
/5
$0
Best online brokers in 2024

Popularity of the best online brokers in Australia

Interested in what others think? Here's how many people chose these brokers at BrokerChooser in the last 6 months.

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.

Broker
US stock
AUDUSD spread
Interactive Brokers
$1.0
0.3
Saxo
$1.6
0.8
eToro
$0.0
1.0
moomoo
$0.0
-
Oanda
$0.0
1.2
Webull
$0.0
-
Admirals (Admiral Markets)
$0.0
0.6
NinjaTrader
-
-
IG
$15.0
0.9
City Index
-
1.1
Fees at the best international online brokers in May 2024

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.

Broker
Account fee
Inactivity fee
Interactive Brokers
Saxo
eToro
moomoo
Oanda
Webull
Admirals (Admiral Markets)
NinjaTrader
IG
City Index
Non-trading fees at the best international online brokers in May 2024

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's an Australian government body, accountable to the nation's parliament. It regulates financial services, consumer credit and authorized financial markets operating in Australia and its mandate includes rooting out fraudulent activities and scams among service providers.

Under Australian law, brokers accepting Australian clients are required to be licensed or registered. This helps ensure that only qualified and reputable firms operate in the market. Check the legal information of your broker to make sure they have proper status.

ASIC mandates that financial institutions and trading platforms provide clear and accurate information to retail traders. This includes disclosing fees, risks, and other relevant details to help traders make informed decisions.

The regulator has imposed leverage limits on certain financial products, particularly high-risk ones like CFDs. This is done to protect retail traders from excessive losses due to high leverage. ASIC also requires brokers to segregate client funds from their operational funds.

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 against its counterparts as the currency's value is closely linked to commodity prices because Australia is rich in natural resources. The prices of Australia’s main commodity exports, including iron ore, coal, gold, and oil, also fluctuate quite widely.

The Australian Securities Exchange (ASX) is the largest stock market in Australia. The Sydney-based bourse ranks among the top 20 largest stock exchanges in the world by market capitalization. The 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.

What securities can I trade with international brokers in Australia?

No matter whether you are looking for financial instruments to buy and hold or to profit from their short-term price movements, international brokers offer a wide range of securities for both of these goals.

Many of these international brokers offer shares and exchange-traded funds (ETFs) listed on Australian exchanges, such as the Australian Securities Exchange (ASX), National Stock Exchange of Australia (NSX), or Chi-X Australia, for investing and trading to their clients.

Most of them will give you access to equities listed on international exchanges, such as the New York Stock Exchange (NYSE) or Nasdaq.

However, you don’t need to buy securities outright. Many of these brokers offer various ways to trade the foreign exchange (forex) markets and a whole range of other instruments through derivatives. For instance, many of these brokers offer contracts for difference (CFDs) on a number of instruments, such as currency pairs, shares and stock indexes, ETFs, metals and other commodities, such as oil and natural gas and precious metals. Even trading cryptocurrencies is legal in Australia.

When you trade derivatives, you don’t own the actual underlying asset, you just make a bet on the price movement, either up or down, and profit from the trade if you get it right. Your broker will, typically, offer you leverage, or a loan to open a bigger position than your initial deposit for the trade. You need to be careful with that, however, because leverage will amplify your losses, not just your gains.

How is profit from trading taxed in Australia

Individual investors in Australia are liable to pay a capital gains tax (CGT) of 50% of their marginal tax rate on any profit from investments. This tax applies to any profit from selling assets held for more than 12 months. The tax rate on profit from these long-term investments ranges from 0% to 45%, depending on the individual's overall income.

Profit made from short-term trading of shares, forex, CFDs or other financial instruments is not taxed as capital gains. Instead, they are subject to Australia's income tax rules. A lot of online traders are business owners and their profits and losses are considered business income and taxed at their current tax rate.

Our assessment of best international online brokers for residents in Australia in 2024

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.

Broker
Overall score
Fees score
Interactive Brokers
4.9
/5
4.3
/5
Saxo
4.9
/5
3.0
/5
eToro
4.8
/5
4.0
/5
moomoo
4.6
/5
4.8
/5
Oanda
4.5
/5
4.1
/5
Webull
4.5
/5
4.6
/5
Admirals (Admiral Markets)
4.5
/5
3.7
/5
NinjaTrader
4.5
/5
4.3
/5
IG
4.5
/5
3.5
/5
City Index
4.5
/5
3.7
/5
Score summary of best international online brokers for residents in Australia

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 2024 for residents in Australia in detail one by one, starting with the winner, Interactive Brokers.

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

Visit broker

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 2024

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

Visit broker

Saxo snapshot
Minimum deposit $0
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 No
Read review For a detailed analysis of Saxo services, check out our review for 2024

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

Visit broker
AFSL 491139. Capital at risk. See PDS and TMD.

eToro snapshot
Minimum deposit $10
Fees class Low
Deposit method Bank transfer, Credit/debit cards, eToro Money, Neteller, Skrill, Trustly, iDEAL, Przelewy 24, RapidTransfer, Klarna, Giropay
Withdrawal method Bank transfer, Credit/debit cards, eToro Money, Neteller, Skrill, Trustly, iDEAL, Przelewy 24, RapidTransfer, Klarna, Giropay
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 2024

Recommended for investors and traders looking for zero-commission trading and focusing on US markets

Visit broker

moomoo 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 moomoo services, check out our review for 2024

Recommended for forex traders who value a user-friendly platform and great research tools

Visit broker
78.3% of retail CFD accounts lose money

Oanda snapshot
Minimum deposit $0
Fees class Low
Deposit method Bank transfer, Credit/debit cards, PayPal, Skrill, Neteller
Withdrawal method Bank transfer, Credit/debit cards, PayPal, Skrill, Neteller
Withdrawal fee $0
Time to open account 1-3 days
Inactivity fee Yes
Read review For a detailed analysis of Oanda services, check out our review for 2024

Recommended for investors and traders looking for zero-commission trading and easy platforms

Visit broker

Webull 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 Webull services, check out our review for 2024

Recommended for forex traders who are familiar with the MetaTrader trading platforms

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80% of retail CFD accounts lose money

Admirals (Admiral Markets) snapshot
Minimum deposit $100
Fees class Low
Deposit method Bank transfer, Credit/debit cards, Skrill, PayPal, Klarna, Neteller, SafetyPay, AstroPay, Trustly, Rapid Transfer, NganLuong
Withdrawal method Bank transfer, Credit/debit cards, Skrill, PayPal, Klarna, Neteller, SafetyPay, AstroPay, Trustly, Rapid Transfer, NganLuong
Withdrawal fee $0
Time to open account 1 day
Inactivity fee Yes
Read review For a detailed analysis of Admirals (Admiral Markets) services, check out our review for 2024

Recommended for active traders focusing on futures

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NinjaTrader snapshot
Minimum deposit $0
Fees class Low
Deposit method Bank transfer
Withdrawal method Bank transfer
Withdrawal fee $0
Time to open account >3 days
Inactivity fee Yes
Read review For a detailed analysis of NinjaTrader services, check out our review for 2024
IG Logo

IG

Recommended for traders of any experience level looking for an easy-to-use trading platform

Visit broker
71% of retail CFD accounts lose money

IG snapshot
Minimum deposit $0
Fees class Average
Deposit method Bank transfer, Credit/debit cards, PayPal
Withdrawal method Bank transfer, Credit/debit cards
Withdrawal fee $0
Time to open account 1-3 days
Inactivity fee No
Read review For a detailed analysis of IG services, check out our review for 2024

Recommended for forex and CFD traders looking for low forex fees and great research tools

Visit broker
69% of retail CFD accounts lose money

City Index snapshot
Minimum deposit $0
Fees class Low
Deposit method Bank transfer, Credit/debit cards, PayPal
Withdrawal method Bank transfer, Credit/debit cards, PayPal
Withdrawal fee $0
Time to open account 1 day
Inactivity fee Yes
Read review For a detailed analysis of City Index services, check out our review for 2024

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How did we select the best international online brokers in Australia in 2024?

  • 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.
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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 - Extremely low fees. Wide range of products. Many great research tools.
  2. Saxo - Great trading platform. Outstanding research. Broad product portfolio. Interest paid on uninvested cash.
  3. eToro - Free stock and ETF trading. Seamless account opening. Social trading.
  4. moomoo - Commission-free stock and ETF trading. Fast and easy account opening. Quality analytical tools and excellent education services. Pays high interest on uninvested cash.
  5. Oanda - Great trading platforms. Outstanding research tools. Fast and user-friendly account opening.
  6. Webull - Free stock/ETF trading and high 5% interest on uninvested cash. Fast and easy account opening. Great trading platforms.
  7. Admirals (Admiral Markets) - Low forex CFD fees. Free and fast deposit and withdrawal. Straightforward account opening.
  8. NinjaTrader - Low trading fees. Great platform and research. Quality educational materials.
  9. IG - First-class web trading platform. Superb educational tools. Great deposit and withdrawal options.
  10. City Index - Low fees for forex. Fast and smooth account opening. Diverse research tools.

Can I trade cryptocurrencies in Australia?

Trading and storing Bitcoin (BTC) and other cryptocurrencies, such as Ethereum (ETH) Tether (USDT) and Ripple (XRP) is legal in Australia. They are also legal means of payment for personal and business transactions.

Trading and storing Bitcoin (BTC) and other cryptocurrencies, such as Ethereum (ETH) Tether (USDT) and Ripple (XRP) is legal in Australia. They are also legal means of payment for personal and business transactions.

Similarly to other major regulators, ASIC has tightened regulations for brokers offering contracts for difference (CFDs) in general, and expressed concerns about cryptocurrencies as an asset class in particular. However, unlike the UK’s Financial Conduct Authority (FCA), it has not banned offering crypto derivatives to retail traders.

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Author of this article

Adam Nasli

Trading • Safety • Market Analysis

I bring extensive financial expertise as one of BrokerChooser's earliest team members. Personally, I tested nearly all 100+ brokers on our site, opening real-money accounts, executing trades, assessing customer services, and providing firsthand assessment. My professional background includes roles in the banking sector and a degree from Central European University, where I teach finance. My passions lies in in-depth research of the financial industry, building trading algorithms, and managing long-term investments.

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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