Picking the right stock broker is incredibly important. If you live in Australia, these are our picks for the very best you can use.
ADDITIONAL REVIEW NOTES:
CMC Markets
CFDs and Forex, but we are looking at the stockbroker aspect
Well regulated
Low fees
Excellent market research tools
No account minimum
$15/month inactivity fee
SelfWealth
Very quickly growing
Very cheap fees ($9.50 for any amount)
Get 5 free trades with our link
No minimum account balance
Social aspect where you can follow other’s trades
Much less confusing fee schedule
Some great free research tools
Access to US and Aussie markets
USD Cash account
Competitive FX rate (0.6%)
Ranked highly by Money Magazine
Simple, cheap, and easy to use
Also a premium membership option with more features
IG
Big variety
Easy to use
Free demo account
Access to international markets
Relatively low fees
No fees for US or UK markets
Conversion Fee of 0.7% for every trade
$5-$8 for Aussie markets
Lots of research and resources available
Inactivity fees
CommSec (commonwealth bank’s trading platform)
Great news and research tools
Big name and reputation
International market access
Fee schedule changes with amount invested ($10+ up to 0.12%)
Fees can be confusing (depending on which bank you use, inactivity, etc.)
DISCLAIMER: This video is not legal or financial advice. I am not a financial advisor. Please do your own research and consider consulting with a professional before doing anything with your money. You and only you are responsible for your actions. This video and description contains affiliate links, which means that if you click on one of the product links, I’ll receive a small commission. This helps support the channel and allows us to continue to make videos like this. Thank you for the support! Everything in this video is based on information we learned from online resources, our own experience, and books we have read. Thank you for watching!
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