Intro and winners
- Interactive Brokers is the best international online brokers in Australia in 2023. - Low trading fees and high interest (up to 4.58% for USD) on cash balances. Wide range of products. Many great research tools.
- eToro - Free stock and ETF trading. Seamless account opening. Social trading.
- Saxo Bank - Great trading platform. Outstanding research. Broad product portfolio.
- Alpaca Trading - Great API trading service. Free stock & ETF trading. Fantastic charting tools.
- Plus500 - Easy-to-use platform. Great account opening. Quick and helpful customer support.
- TradeStation - Great web and mobile trading platform. Low trading fees. High-quality research and education tools.
- tastytrade - Low trading fees. Great educational materials. Good research tools.
- Admirals (Admiral Markets) - Low forex CFD fees. Free and fast deposit and withdrawal. Straightforward account opening.
- IG - First-class web trading platform. Superb educational tools. Great deposit and withdrawal options.
- Tickmill - Low forex fees. Fast and easy account opening. Free deposit and withdrawal.
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.
| Broker | Overall score | Minimum deposit |
|---|---|---|
| Interactive Brokers | 4.9 | $0 $0 for non-margin client accounts, $2,000 for margin accounts. (A margin account is where you trade with borrowed money, also known as leverage.) |
| eToro | 4.9 | $10 For Israeli clients, the minimum first-time deposit is $10,000. For residents of Australia and the US, it is $50, while for residents of Russia, China, Hong Kong, Taiwan and Macau, it is $500. |
| Saxo Bank | 4.8 | $2,000 The minimum account balance is £500 in the UK, while $2,000-10,000 in other countries and zero for Danish and Norwegian clients. |
| Alpaca Trading | 4.7 | $0 $0 for retail account, $30,000 for business accounts |
| Plus500 | 4.7 | $100 $100 for credit/debit cards and electronic wallets; $500 for bank transfers |
| TradeStation | 4.7 | $0 $1 for cash accounts, $2,000 for margin accounts, and $5,000 for futures accounts |
| tastytrade | 4.7 | $0 No minimum account balance |
| Admirals (Admiral Markets) | 4.7 | $100 100 EUR/GBP/USD/CHF or 200 BGN or 1000 CZK or 750 HRK or 25000 HUF or 250 PLN/RON |
| IG | 4.6 | $0 No minimum deposit for bank transfers; $300 minimum for credit/debit cards and PayPal |
| Tickmill | 4.6 | $100 $100 minimum deposit |
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.
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.
| Broker | US stock | UK stock |
|---|---|---|
| Interactive Brokers | $1.0 Fixed pricing: $0.005 per share, min. $1, max. 1% of trade value. Free for US clients choosing IBKR Lite plan. | $3.7 Fixed £3 for trade value less than £6,000, 0.05% of trade value for more than £6,000 |
| eToro | $0.0 Free stock and ETF trading | $0.0 Free stock and ETF trading, except for clients from Australia, where a 0.09% spread cost per transaction applies |
| Saxo Bank | $10.0 $0.02/share; min $10, but with a VIP account the minimum can be as low as $3 | $9.9 0.1% of trade value with £8 min, but using VIP pricing the commission can be as low as 0.05% of trade value with £5 min |
| Alpaca Trading | $0.0 Commission-free stock trading | - Not available |
| Plus500 | - Available through Plus500 Invest account: $0.006 per share | - Available through Plus500 Invest account: 0.045% of trade value with min £2 |
| TradeStation | $0.0 Commission-free up to the first 10,000 shares per trade for US clients. $5 per trade for non-US clients | - Not available |
| tastytrade | $0.0 Free stock and ETF | - Not available |
| Admirals (Admiral Markets) | $0.0 One commission-free trade per day. Outside the allowance, the fee is $0.02 per share with a minimum of $1 | $0.0 One commission-free trade per day. Outside the allowance, 0.1 % of trade value, minimum of £1. |
| IG | $15.0 Real stocks available only in a few countries, like UK, Ireland, or Australia. US stock fees: $0.02 per share with $15 min | $9.9 Real stocks available only in a few countries, like UK, Ireland, or Australia. UK stock fee: £8 per trade |
| Tickmill | - Not available | - Not available |
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.
| Broker | Account fee | Inactivity fee |
|---|---|---|
| Interactive Brokers | No account fee | No inactivity fee |
| eToro | No account fee | $10 per month after one year inactivity. Inactivity means that you don't log in to your account |
| Saxo Bank | No account fee | In the UK, £25 after one quarter of inactivity. SIPP and ISA accounts are exempt from this fee. In non-UK countries, up to $150 after 6 months of inactivity |
| Alpaca Trading | No account fee | No inactivity fee |
| Plus500 | No account fee | $10 per month after 3 months of inactivity. Inactivity means that you don't log in to your account |
| TradeStation | No account fee | $50 per year if your balance is less than $2,000 or if you make less than 5 trades per year |
| tastytrade | No account fee | No inactivity fee |
| Admirals (Admiral Markets) | No account fee. | €10 per month after 2 years of inactivity. Only charged if your account balance is greater than zero |
| IG | No account fee | $/£12/€14 per month after 2 years of inactivity |
| Tickmill | No account fee | No inactivity fee |
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.
| Broker | Overall score | Fees score |
|---|---|---|
| Interactive Brokers | 4.9 | 4.4 |
| eToro | 4.9 | 4.4 |
| Saxo Bank | 4.8 | 2.9 |
| Alpaca Trading | 4.7 | 4.9 |
| Plus500 | 4.7 | 4.0 |
| TradeStation | 4.7 | 4.1 |
| tastytrade | 4.7 | 4.3 |
| Admirals (Admiral Markets) | 4.7 | 4.0 |
| IG | 4.6 | 3.6 |
| Tickmill | 4.6 | 4.4 |
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.
#1 Best international online broker in Australia in 2023
Interactive Brokers
Recommended for traders looking for broad market access and a professional trading environment
| 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 |
#2 Best international online broker in Australia in 2023
eToro
Recommended for traders interested in social trading (i.e. copying other investors’ trades) and zero-commission stock trading
| 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 |
#3 Best international online broker in Australia in 2023
Saxo Bank
Recommended for investors and traders looking for a great trading platform and solid research
| 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 |
#4 Best international online broker in Australia in 2023
Alpaca Trading
Recommended for traders interested in algorithmic stock trading
| 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 |
#5 Best international online broker in Australia in 2023
Plus500
Recommended for experienced traders looking for an easy-to-use platform and a great user experience
| Plus500 snapshot | |
|---|---|
| Minimum deposit | $100 |
| Fees class | Low |
| Deposit method | Bank transfer, Credit/debit cards, PayPal, Skrill |
| Withdrawal method | Bank transfer, Credit/debit cards, PayPal, Skrill |
| Withdrawal fee | $0 |
| Time to open account | 1 day |
| Inactivity fee | Yes |
| Read review | For a detailed analysis of Plus500 services, check out our review for 2023 |
#6 Best international online broker in Australia in 2023
TradeStation
Recommended for traders focusing on us markets and buy-and-hold investing
| TradeStation 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 | Yes |
| Read review | For a detailed analysis of TradeStation services, check out our review for 2023 |
#7 Best international online broker in Australia in 2023
tastytrade
Recommended for options and futures traders focusing on us markets
| tastytrade 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 tastytrade services, check out our review for 2023 |
#8 Best international online broker in Australia in 2023
Admirals (Admiral Markets)
Recommended for forex traders who are familiar with the metatrader trading platforms
| 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 2023 |
#9 Best international online broker in Australia in 2023
IG
Recommended for traders of any experience level looking for an easy-to-use trading platform
| IG snapshot | |
|---|---|
| Minimum deposit | $0 |
| Fees class | Low |
| 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 | Yes |
| Read review | For a detailed analysis of IG services, check out our review for 2023 |
#10 Best international online broker in Australia in 2023
Tickmill
Recommended for forex traders looking for low fees who are familiar with the metatrader 4 platform
| Tickmill snapshot | |
|---|---|
| Minimum deposit | $100 |
| Fees class | Low |
| Deposit method | Bank transfer, Credit/debit cards, Neteller, Skrill, dotpay, Paysafecard, Sofort, Rapid by Skrill, PayPal |
| Withdrawal method | Bank transfer, Credit/debit cards, Neteller, Skrill, dotpay, Paysafecard, Sofort, Rapid by Skrill, PayPal |
| Withdrawal fee | $0 |
| Time to open account | 1 day |
| Inactivity fee | No |
| Read review | For a detailed analysis of Tickmill services, check out our review for 2023 |
Best international online brokers in Australia in 2023
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Best international online brokers in Australia in 2023
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.
Our expert team has done all the work for you, and reviewed brokers based on BrokerChooser's unique methodology.
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:
- Interactive Brokers - Low trading fees and high interest (up to 4.58% for USD) on cash balances. Wide range of products. Many great research tools.
- eToro - Free stock and ETF trading. Seamless account opening. Social trading.
- Saxo Bank - Great trading platform. Outstanding research. Broad product portfolio.
- Alpaca Trading - Great API trading service. Free stock & ETF trading. Fantastic charting tools.
- Plus500 - Easy-to-use platform. Great account opening. Quick and helpful customer support.
- TradeStation - Great web and mobile trading platform. Low trading fees. High-quality research and education tools.
- tastytrade - Low trading fees. Great educational materials. Good research tools.
- Admirals (Admiral Markets) - Low forex CFD fees. Free and fast deposit and withdrawal. Straightforward account opening.
- IG - First-class web trading platform. Superb educational tools. Great deposit and withdrawal options.
- Tickmill - Low forex fees. Fast and easy account opening. Free deposit and withdrawal.
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