Here is the list of some famous Australian Trading Platform which will help you while trading globally. The article contains features along with drawbacks so that you can compare these platforms deeply.
Table of Contents
1. HFTrading – Best Australian Trading Platforms
HFTrading operates under the guidelines of CTRL investment Limited (a New Zealand based company). It is regulated by the Australian Securities and Investments Commission (ASIC) as well as the New Zealand Financial Markets Authority (FMA).
HF traders provide Meta Trader 4 to carry out trade. The trader can run this tool on pc as well as mobile. Users can also avail educational resources to enhance their knowledge in the field of trading.
Educational resources include articles, videos, eBooks, trading tutorials for beginners. They also provide the financial calendar and session calendars.
HFTrading gives exposure to the investor on more than 350 cfd tools like cfd, forex, commodity, indices and shares, also; including the access on three main trading accounts in metal (platinum account, silver account, gold account). It is also known for its commission-free trading. They offer one more additional feature that is a swap-free Islamic trading account.
It is considered as the best platform when it comes to cheap broker fees. Their brokerage fee for the international shares is $0 also, for the active traders they offer lowest ASF broker fee. They cover almost all global markets such as forex, cfd trading and stocks.
Drawbacks
1) This platform is not suitable for the traders out there who are trying their luck for the very first time.
2) They charge an inactivity fee of $50 per quarter if the trader makes less than three trades in that time duration.
Brokerage fees:
- For US share $0
- For ASX share $5
3. CMC Markets Broker
If you are looking out for the platform which can provide you best features, then you can make the most out of CMC markets. The advanced trading features they provide includes conditional orders, news, mfunds, chart analysis and stock watch list.
Features
The managed funds (m Funds) are accessible.
Trading can be done globally with a high range of trading features and options such as global share trading, forex, CHESS-sponsored Australian shares, and cfd trading.
Suitable for trading on Chi-X, SSX and ASX
CMC also provides tools which can be accessed easily such as mfunds, OTC stocks etc.
Drawbacks
1) It charges monthly inactivity fees of $15 even if you are trading or not.
2) Compared to other platforms, they are hard for beginners to understand.
Brokerage fees for ASX share start from $11.
4. Bell Direct Trading Platform
It is the best Australian trading platform for long-term traders. It is suitable for investors who do not frequently trade (trade three to four times a year) and want to avoid penalty charges.
Features
1) Bell direct also offers stock analysis, range of broker’s trade, and managed funds.
2) Easy to use.
3) Suitable for long term investors because there are no inactivity and subscription charges.
Drawbacks
1) It charges high brokerage fees from traders.
2) Bell Direct does not have a global share trading feature.
Brokerage fee starts from $15
5. eToro Australia Trading Platforms
It is the best platform for US stocks. Its social feature makes it more attractive. With the feature, users can interact with each other and can follow the trade of successful traders.
Features
1) No fee for US stocks
2) A trader can try a copy trading feature which allows you to imitate the trade of many successful traders.
3) Easy for beginners.
Drawbacks
1) Trade can be made only in US shares
2) A penalty of $10 in case a trader doesn’t login the application in twelve months.
6. Interactive Broker for Online Trading
It is the best Australian trading platform for active users. They offer a long list of advanced tools such as graph analyser, conditional order options and fractional shares.
Features
1) Lowest brokerage free in the Australian as well as the global stock market. The active trader who trades frequently can also trade in OTC, forex and commodity markets.
2) As already mentioned above, it has many advanced options to conduct and analyse the trade.
Drawbacks
1) Minimum monthly expenditure of $10.
2) It is not for beginners, preferably used by advanced traders.
Brokerage Fees:
- US share: $0.0035 per share and
- ASX share: $5
7. Saxo Capital Markets – Best for Professionals
It is a complete package for traders. When we talk about the best Australian trading platform overall, then the Saxo capital market tops the list.
Features
1) Lowest brokerage fee compared to other platforms.
2) Covers trading in 37 countries.
3) It Offers trade in forex, cfd and stocks.
Drawbacks
1) Not for beginners.
2) CHESS-sponsored shares are comparatively more expensive in the Saxo capital market.
Brokerage Fees for Australian shares start from $6.99 per trade.
CFD Trading
CFD is an acronym for “contract for difference.” It is basically a contract between a purchaser and a seller. They mutually agree to share the difference in the price of a share at the time of opening and closing. CFD allows you to speculate the financial markets such as forex, indices, stocks and commodities without any security or underlying asset. That’s why it is known as the derivative product.
The main advantage of trading in cfd is one can speculate these markets in both directions. The profit in this market depends on how accurate your prediction is.
Four critical points in cfd trading explained below:
1) Spread
The two quoted prices in cfd are the bid price and the offer price.
The price at which one can open short cfd is termed as the bid price.
The price at which one can open a long cfd is termed as the offer price.
Difference between the bid price and the offer price is known as the spread.
2) Deal size or Lot size
All stocks or shares have different Lot size, and this depends on the underlying assets.
3) Margin
The small fraction of the trade is known as a margin in cfd trading. There are two types of margin in cfd trading. First is the deposit margin, which is essential in opening a trade position. Second, the maintenance margin, which is required when the trader is close to facing a specific loss.
4) Profit
To calculate profit in cfd trading, one can apply a simple formula:
The number of cfd contracts multiplied by the price of each contract. The output of the first step is then multiplied by the difference between the opening and closing of share.
So, start trading by choosing your instrument, position and platform for cfd trading.
Closing Words – Australian Trading Platform
There is always a fine line between regular trading and successful trading. Your actions define the rate of success.
The choice entirely depends on you; your choice can create a difference in your trading experience. So, choose wisely before starting trade in any market. Try to compare all the platforms carefully and select the one which will give your best result.
For beginners, it is suggested, watch out the various trading tutorials provided by many brokers such as HFTrading and many more. Analyse the strategies followed by many successful traders and try to follow the prevailing market trend to avoid any risk in the initial stage.