Finding the best online trading account to buy or sell shares in Australia can be scary. Believe us; we know that buying shares in Australia for the first time is a daunting task. Commsec, Pearler, Selfwealth, Stake, Vanguard Personal Investor, Superhero, Sharesies… where do I even start?!
Please note: the brokerage prices, costs and information we’ve included here are a guide only. And the fees and charges change regularly. Refer to the broker’s website to read its fee schedule, product disclosure statement (PDS) and financial services guide (FSG).
In Australia, if you want to buy shares or ETFs, you will generally need to use a broker to facilitate the transaction.
Our main market in Australia is called the Australian Securities Exchange (ASX). Think of it like a farmers market, with various products for sale and shoppers and vendors roaming around. The main difference is that you can sell the apples you just purchased to other shoppers. However, to buy anything from the market, you need to use a broker. This ensures an orderly operation of the marketplace and greater transparency for all involved.
This episode is part of our Beginners Investing Month series on The Australian Finance Podcast. Just look for the episodes with the 💸 during August 2023!
Before fully committing to a broker, why not give it a test drive? That is, open an account but don’t put your money in. This will help you make sure you think buying and selling using the platform/app is straightforward. Also, test drive their customer service team by calling them and asking about the reporting they can provide you at tax time — trust us, having good tax reports will make your life so much easier.
Finally, don’t forget we highly recommend reading the broker’s Product Disclosure Statement (PDS) or speaking to your financial adviser if you’re concerned.
