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Best international online brokers in Australia in 2023

Written by:
Fact checked by:
Updated:
Dec 2022
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AFSL 491139. Capital at risk. See PDS and TMD.
5
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86% of retail CFD accounts lose money
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80% of retail CFD accounts lose money
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75% of retail CFD accounts lose money
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76% of retail CFD accounts lose money
  1. 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.
  2. eToro - Free stock and ETF trading. Seamless account opening. Social trading.
  3. Saxo Bank - Great trading platform. Outstanding research. Broad product portfolio.
  4. Alpaca Trading - Great API trading service. Free stock & ETF trading. Fantastic charting tools.
  5. Plus500 - Easy-to-use platform. Great account opening. Quick and helpful customer support.
  6. TradeStation - Great web and mobile trading platform. Low trading fees. High-quality research and education tools.
  7. tastytrade - Low trading fees. Great educational materials. Good research tools.
  8. Admirals (Admiral Markets) - Low forex CFD fees. Free and fast deposit and withdrawal. Straightforward account opening.
  9. IG - First-class web trading platform. Superb educational tools. Great deposit and withdrawal options.
  10. 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
Best online brokers in 2023

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
Fees at the best international online brokers in June 2023

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
Non-trading fees at the best international online brokers in June 2023

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
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 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 2023
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 2023
eToro

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

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

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 2023
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
Alpaca Trading Logo

#4 Best international online broker in Australia in 2023
Alpaca Trading

Recommended for traders interested in algorithmic stock trading

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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
Plus500 Logo

#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

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86% of retail CFD accounts lose money

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
TradeStation Logo

#6 Best international online broker in Australia in 2023
TradeStation

Recommended for traders focusing on us markets and buy-and-hold investing

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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
tastytrade Logo

#7 Best international online broker in Australia in 2023
tastytrade

Recommended for options and futures traders focusing on us markets

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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
Admirals (Admiral Markets) Logo

#8 Best international online broker in Australia in 2023
Admirals (Admiral Markets)

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 2023
IG Logo

#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

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75% of retail CFD accounts lose money

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
Tickmill Logo

#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

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76% of retail CFD accounts lose money

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.
Save hours of research!
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:

  1. 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.
  2. eToro - Free stock and ETF trading. Seamless account opening. Social trading.
  3. Saxo Bank - Great trading platform. Outstanding research. Broad product portfolio.
  4. Alpaca Trading - Great API trading service. Free stock & ETF trading. Fantastic charting tools.
  5. Plus500 - Easy-to-use platform. Great account opening. Quick and helpful customer support.
  6. TradeStation - Great web and mobile trading platform. Low trading fees. High-quality research and education tools.
  7. tastytrade - Low trading fees. Great educational materials. Good research tools.
  8. Admirals (Admiral Markets) - Low forex CFD fees. Free and fast deposit and withdrawal. Straightforward account opening.
  9. IG - First-class web trading platform. Superb educational tools. Great deposit and withdrawal options.
  10. Tickmill - Low forex fees. Fast and easy account opening. Free deposit and withdrawal.

Author of this article

Adam Nasli

Author of this article

Adam is a motivated finance expert. He is one of the first hires at BrokerChooser and has since tested almost all 100+ brokers covered by BrokerChooser. Adam holds a professional degree from CEU and he helps teach finance and programming courses at his alma mater. Previously he worked in the banking sector, including at Citi Bank. He loves researching the financial industry, managing his long-term investments, and trading with algorithms.

Adam Nasli

Analyst Head

Adam is a motivated finance expert. He is one of the first hires at BrokerChooser and has since tested almost all 100+ brokers covered by BrokerChooser. Adam holds a professional degree from CEU and he helps teach finance and programming courses at his alma mater. Previously he worked in the banking sector, including at Citi Bank. He loves researching the financial industry, managing his long-term investments, and trading with algorithms.

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

Visit eToro
AFSL 491139. Capital at risk. See PDS and TMD.
Visit Plus500
86% of retail CFD accounts lose money
Visit Admirals (Admiral Markets)
80% of retail CFD accounts lose money
Visit IG
75% of retail CFD accounts lose money
Visit Tickmill
76% of retail CFD accounts lose money

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