It’s no longer necessary to be tied to a trading desk to complete a stock trade. Because of trading apps, multiple trades can be completed on a mobile device when there’s internet access.
These apps permit share trading across the ASX market and international exchanges using just your smartphone. While many online brokers do offer a branded mobile trading app, not all of them do. Also, some trading apps are mobile-only without desktop access. Therefore, for Australian stock traders that prefer to use a mobile app to trade, here are the best stock trading apps for Australia in 2021.
Essential reading: What to Look for in the Best Share Trading App?
While we’ve tried to be fair in our comparisons, the reality is that there is not a top share trading app. Why is that? Because your personal preferences vary from ours and other peoples’ too.
Also, whether you can trade Australian shares or other types of securities, is not always consistent either. Some trading apps only permit US trading, for instance. Therefore, there’s considerable variance from one mobile app to another, and one service to another. So, what’s best for you won’t be the same.
We’ve reviewed 8 mobile share trading apps, so you have a good selection to choose between:
CMC Markets Stockbroking app
The CMC Markets mobile app, fortunately, provides just as much functionality as their website too.
It’s possible to trade on the move but also get a larger view from a laptop or desktop PC later. Buying shares or selling ones that have hit your sell target is possible via linked or conditional sell orders. Scanning your current stock positions, and history lets you know where you are at. Relevant real-time charting, market information, portfolio details, and watchlists round out the features.
The CMC Markets app is offered on both iOS and Android devices. It also includes the latest news and insights to stay abreast of market actions through the trading day.
IG Trading app
IG is no slouch in the trading app market. They don’t have just one but a slew of mobile apps to trade the market. There are apps to trade using an iPhone, iPad, Android smartphone or tablet, Windows Phone (most likely discontinued soon due to this platform dying out), and Windows tablet too.
Disclaimer: Below content does not apply to US users.
eToro is heavily promoted online and so it’s likely that you’ve heard of it before.
This trading app is extremely popular. It’s available for iPhone or Android devices. Perhaps its most in-demand feature borrows something from social crowd sharing by letting traders see what the highest performing traders are picking and copy their trades and stock portfolio. The traders are selected by the team at eToro.
There are no costs to trade US stocks. Foreign exchanges can be accessed to trade stocks at a low 0.50% fee. eToro can be used to trade stocks, forex, CFDs, and various cryptocurrencies too.
81% of retail CFD accounts lose money. It is important to read and understand the risks of this investment which are explained in detail at this link.
The aptly named Superhero is a mobile app that lets users access Australian and other markets at a low cost. It also sports a pleasing interface. It was only launched this year, so the design features the latest touches to make it easier to use.
While a minimum of $500 is typically required to buy into a publicly-traded Australian company, that’s reduced to $100 with Superhero. There’s also a standard $5 brokerage fee and no monthly costs to worry about.
Affordable trades at $9.50 per completed trade is a major selling point of SelfWealth. The price remains the same regardless of the lot size or frequency of trading too. The SelfWeath app can be used on the desktop, Windows tablet, smartphone, or tablet too. It’s free to use and there are no monthly fees or inactivity fees with the Basic account.
Stake is intended to let you build up yours for no cost. It’s possible to trade the US exchanges without paying any brokerage fees. Accessing ETFs and US stocks like some of the biggest names in tech, social media, and telecoms is possible.
You will be charged to convert the Aussie dollar to US dollars (and visa versa). So, a little is lost there.
CommSec provides a trading app to get onto their platform. It works on an Android device, or an iPhone or iPad. The app delivers excellent access to share purchases and sale orders, to access live pricing, and manage stock watchlists to know when to trade.
nabtrade IRESS mobile app
The nabtrade IRESS mobile app is expressly intended for use by people who already have a nabtrade account. Otherwise, it cannot be used. When using the app as an account holder, it lets you sell or purchase shares directly from your smartphone, use contingent orders that only execute under certain conditions, to see live pricing, charting, market information, and more.
See all the current holdings in the trading account, current and past orders, and the status of any outstanding orders. Also, view charts that can be adjusted to your needs, and get a look at the winners and losers in the ASX.
Westpac Online Investing app
Westpac is a well-known brand in Australia, so many people will be more comfortable using their mobile trading app. It’s available for use on an Android or iOS device, with versions for both the iPad and iPhone too.
Trade a mix of shares, ETC, ETFs, and warrants. Also, view live quotes, the latest news, a list of your current holdings, and work with watchlists too.
Frequently Asked Questions About Share Trading Apps
Many mobile stock trading apps do not permit trades to be completed on the Australian stock market due to security concerns. Others do permit this, plus also provide access to company news, live pricing, stock analysis, and other features. All the apps in this review do permit buy and sell trades.
Every trading platform has a unique sign-up process. However, proof of ID, full name, contact information, and banking details are typically required. Most permit signing up via their mobile trading apps, but some will need it to be completed on a PC or Mac. The reviewed apps above allow signing up via the apps or, at least, to begin the process that way.
See our guide above to help you to narrow down your choice to the right platform for you.
The apps should be downloaded directly from either the Apple App Store or the Google Play store, respectively. While they may be shown on a mobile trading website, they’re usually linked to the listing on the app store for downloads.
The majority of mobile share trading apps are free to use. Some apps also offer free trading but that depends on the service. Some may be free for their primary country, be that Australia, New Zealand, or the US market. Most also do not have an ongoing admin or subscription fee, nor do they have inactivity fees. However, there are occasional exceptions to this, especially for foreign stock trading and other exotic trades. Therefore, it’s necessary to look at the specifics of the trading account that comes with the mobile trading app to be certain.