Best Stock Trading Apps in Australia 2026: Stake vs moomoo vs Webull vs Tiger Trade

Table of Contents

1. Why Australians Are Ditching CommSec
2. Quick Comparison Table
3. Stake Review — Best for US Stocks
4. moomoo Review — Best for Research Tools
5. Webull Review — Best for Beginners
6. Tiger Trade Review — Best for Global Markets
7. Raiz Review — Best for Hands-Off Investing
8. Detailed Fee Comparison
9. Which App Should You Choose?
10. Can You Use Multiple Apps?
11. FAQ
12. Final Verdict

Disclosure: This post contains affiliate links. If you sign up through our links, MoneyHack HQ may earn a commission at no extra cost to you. This helps us keep the site running and producing free content. We only recommend platforms we have personally tested and believe provide genuine value. Our opinions are our own and are not influenced by affiliate partnerships.

Why Australians Are Ditching CommSec and NABtrade

Let’s be honest: paying $10 to $30 every time you buy or sell a stock in 2026 feels like paying for a taxi when Uber exists. And yet, that’s exactly what millions of Australians are still doing through legacy brokers like CommSec, NABtrade, and ANZ Share Investing.

A hypothetical $5 brokerage charge on a $500 investment is 1% of the amount invested. Twelve such purchases cost $60 before currency conversion or other fees. Compare the actual fee schedule for your trade size and market; a low headline minimum does not tell you the complete cost.

Australian investing platforms offer a mix of flat brokerage, percentage fees, promotional waivers and subscription pricing. Compare standard charges after any welcome period, then add currency conversion and third-party fees.

These platforms — Stake, moomoo, Webull, Tiger Trade, and Raiz — are each approaching the market from slightly different angles. Some are laser-focused on US stocks. Others give you access to global markets across Asia. One lets you invest your spare change without ever opening a trading screen. And they’re all regulated by ASIC, which means your money has the same regulatory protections as it does with CommSec.

I’ve personally used all five of these platforms over the past couple of years, and in this guide I’m going to break down exactly which one is best for different types of investors. Whether you’re a complete beginner who’s never bought a share, or a seasoned investor who’s sick of paying through the nose in fees, there’s a platform here that fits.

Let’s get into it.

Quick Comparison: All 5 Platforms at a Glance

Before we deep-dive into each app, here’s the high-level view. This table covers the key things most people care about when choosing a trading platform.

1. Stake — Best for US Stocks

What Makes Stake Stand Out

Stake offers US and ASX shares with fractional US investing and a straightforward interface. Standard US brokerage is US$3 for orders up to US$30,000, then 0.01% of order value. It is not commission-free.

Stake’s US brokerage is US$3 per order up to US$30,000, then 0.01%. Converting currencies costs 0.55%, with a US$2 minimum. Include both charges when comparing small, regular purchases. Stake pricing.

Fractional shares are available from just $10, which is a game-changer. Amazon shares sitting at around US$200? You don’t need that much. Buy $10 worth and you own a tiny piece. This makes dollar-cost averaging into expensive US stocks incredibly accessible.

Stake ASX brokerage is A$3 for orders up to A$30,000, then 0.01%. ASX holdings are CHESS-sponsored. Compare the charge at your intended order size rather than treating A$3 as an unlimited flat fee.

Stake Black (optional subscription)

Stake Black is optional and has separate subscription terms. Compare its current price and included features before subscribing; the basic account’s US brokerage and currency-conversion charges still need to be included in a cost comparison.

The Cons

No platform is perfect, and Stake has a few drawbacks worth knowing about:

• Currency conversion costs 0.55%, minimum US$2. The minimum can matter for small transfers; brokerage is separate.
• No Hong Kong or Asian markets — if you want exposure to the Hang Seng or Singapore Exchange, you’ll need to look elsewhere.
• Limited order types on the free tier. You’ll want Stake Black if you need limit orders on ASX.
• US shares are custodian-held by DriveWealth in the US, not CHESS-sponsored. This is standard for US trading from Australia but worth understanding.
• Customer support can be slow during peak times. They’ve improved, but it’s not CommSec’s phone support (if you value that).

Who Should Use Stake?

Stake is an option for a US-focused portfolio if its interface and fractional shares suit you. Compare US$3 standard brokerage plus currency conversion against alternatives for the amount and frequency you intend to invest.

For ASX investing, Stake charges A$3 up to A$30,000 per order, then 0.01%. Other brokers use different minimums and percentage thresholds, so compare the same order value.

Stake Wall St referral offer: Use code leew389 when signing up as a new Stake customer. Open an eligible individual Wall St account with a verified email and deposit at least A$50 through Stake within 24 hours of creating the account. Funding Stake AUS alone does not qualify for this Wall St reward.

The first-funding terms also set a 24-hour claim window after your approved Wall St account is created, unless your offer expressly gives a different period. Claim promptly through Stake’s Rewards hub and check the deadline shown in your offer. The reward value is selected at random using weighted probabilities; you can choose from the eligible U.S. stocks shown in your offer. Neither a particular stock nor a fixed reward amount is guaranteed. The referral requires the new customer and referrer to be in the same jurisdiction. MoneyHackHQ may receive a referral reward if you join and qualify. Stake Wall St reward terms.

2. moomoo — Best for Research & Analysis Tools

What Makes moomoo Stand Out

The depth of research tools on moomoo is genuinely impressive for a free platform. You get Level 2 market data (showing the order book depth), advanced charting with dozens of technical indicators, institutional money flow tracking, analyst consensus ratings, earnings calendars, and even AI-powered stock screening. This is the kind of data that professional traders pay serious money for.

Before relying on a moomoo welcome offer, read the terms attached to your invitation. Check new-customer eligibility, any first-deposit, trading or maintained-balance requirements, and the offer and claim deadlines. Do not assume a particular free-trading period, stock reward or cash amount applies. Compare any benefit with the platform’s standard trading and funding costs.

You get access to US, Australian, and Hong Kong markets, which gives you broader coverage than Stake. The Hong Kong access is particularly useful if you want exposure to Chinese tech giants like Tencent, Alibaba, or BYD that trade on the HKEX.

Paper trading is another standout feature. You get a simulated account with fake money so you can practice trading strategies without risking real cash. This is brilliant for beginners who want to learn the ropes, or experienced investors who want to test a new strategy before committing real capital.

The Cons

• The app can feel overwhelming. There is so much data crammed into every screen that beginners might feel like they’ve accidentally opened a Bloomberg Terminal. The learning curve is real.
• Standard brokerage: moomoo ASX orders cost A$3 or 0.03%, whichever is greater, including GST. US orders have a US$0.99 standard charge; third-party fees and promotional conditions are separate. Moomoo pricing.
• Currency conversion: compare the current exchange quote and any conversion charges before funding an overseas trade.
• Customer support is primarily in-app chat. It works, but don’t expect to call someone on the phone for a quick resolution.
• Futu Holdings is a Chinese-founded company, which gives some users pause. To be clear, the Australian entity (Futu Securities Australia) holds an AFSL and is regulated by ASIC, and client funds are held in segregated Australian trust accounts. But it’s a consideration some people have.

Who Should Use moomoo?

moomoo is perfect for investors who want to go deeper than just buying and holding. If you enjoy reading financial statements, analysing chart patterns, tracking institutional money flows, or screening stocks based on fundamental criteria, moomoo gives you all of those tools for free. It’s also the best option right now for anyone who wants access to Hong Kong markets alongside US and ASX.

Choose moomoo for the tools and markets you need, rather than a presumed sign-up reward. A welcome benefit for a new customer is separate from any reward earned by the person referring them; read the applicable conditions before opening or funding an account.

3. Webull — Best for Beginners Transitioning from Apps

What Makes Webull Stand Out

Webull’s biggest strength is its user experience. The mobile app is beautifully designed with a clean, intuitive interface that doesn’t scare off newcomers. Everything from account setup to placing your first trade is guided with clear prompts and helpful explanations.

Webull offers $0 brokerage on US shares and ETFs, with other charges such as currency conversion or third-party fees potentially applying. Its ASX brokerage is A$1 or 0.03% of trade value, whichever is greater, including GST. Webull pricing.

Where Webull really shines for beginners is its educational content. The app includes built-in learning modules that walk you through investing basics, how to read financial statements, what different order types mean, and how market mechanics work. If you’re new to investing, this built-in education is incredibly valuable — it’s like having a free investing course baked into your brokerage app.

Webull also offers social features, letting you see what other investors are talking about, follow popular traders, and get a sense of market sentiment. Think of it as a light social network for investors, built right into the trading platform.

The Cons

• ASX trading is available. The standard charge is A$1 or 0.03%, whichever is greater. Check whether each security and order type you need is supported.
• Smaller Australian user base compared to Stake or moomoo, which means fewer community resources, local guides, and Australian-specific content.
• FX fees are competitive but check the current rate at sign-up, as they’ve adjusted these during their Australian rollout.
• No Hong Kong or Singapore markets — it’s primarily US-focused for Australian users.
• Newer platform in AU means less track record locally. The platform itself is well-established globally, but the Australian entity is still relatively young.

Who Should Use Webull?

Webull is a great choice if you’re new to investing and want a platform that holds your hand through the process. The educational content, clean interface, and $0 US brokerage make it an excellent starting point. It’s also strong for anyone who wants a social/community element to their investing experience.

If you’re already an experienced investor who needs deep research tools or broad market access, Webull might feel a bit light. But for beginners building their first US stock portfolio? It’s hard to beat the onboarding experience.

4. Tiger Trade — Best for Global Market Access

What Makes Tiger Trade Stand Out

The multi-market access is the headline feature. From a single Tiger Trade account, you can buy shares on the NYSE, NASDAQ, ASX, Hong Kong Stock Exchange (HKEX), and Singapore Exchange (SGX). This is a genuine differentiator — most competitors offer two or three markets at best.

For ASX trading, Tiger Trade offers CHESS sponsorship, which means your Australian shares are registered in your name on the ASX settlement system — the same as CommSec, NABtrade, or any traditional broker. This is an important protection that not all platforms offer (US shares are still held in custodian accounts, which is standard).

Tiger’s standard ASX brokerage is A$3 for orders up to A$10,000, then 0.03%. US orders cost US$2 for up to 200 shares, then US$0.01 for each additional share, plus third-party fees. Eligible promotional customers can receive minimum-brokerage waivers on up to four qualifying trades monthly; other charges still apply. Tiger pricing.

The platform includes solid research tools, including analyst ratings, financial statements, earnings calendars, and charting. It sits somewhere between Stake’s simplicity and moomoo’s depth — enough tools to make informed decisions without drowning in data.

Tiger Trade is backed by Tiger Brokers (NASDAQ-listed: TIGR), which gives it financial backing and credibility. The Australian entity holds an AFSL and is regulated by ASIC.

The Cons

• US brokerage: US$2 for up to 200 shares, then US$0.01 per additional share. Third-party fees apply; promotional minimum-fee waivers have separate conditions.
• The interface can be cluttered with all the markets and information available. It takes time to get comfortable navigating everything.
• Standard ASX brokerage: A$3 up to A$10,000 per order, then 0.03%. Check whether any minimum-brokerage waiver applies to your account.
• FX fees vary by currency pair and can add up if you’re constantly converting between AUD and multiple currencies for different markets.
• Less polished onboarding compared to Stake or Webull. The sign-up process works but isn’t as slick as some competitors.

Who Should Use Tiger Trade?

Tiger Trade is the clear winner if you want to invest across multiple international markets from one platform. Want to own Apple in the US, BHP on the ASX, Tencent in Hong Kong, and DBS in Singapore? Tiger Trade lets you do all of that without juggling four different brokerage accounts.

It’s also a strong choice for ASX-focused investors who value CHESS sponsorship and want the option to dip into international markets when opportunities arise. The promotional periods make it especially attractive when you can lock in $0 brokerage.

5. Raiz — Best for Hands-Off Investing

What Makes Raiz Stand Out

Raiz’s signature feature is round-ups. Link your bank account, and every time you make a purchase, Raiz rounds up to the nearest dollar and invests the spare change. Buy a $4.50 coffee? Raiz invests the $0.50. Over time, these micro-investments add up — most users accumulate a few hundred dollars within the first year without even thinking about it.

Instead of picking individual stocks, you choose from pre-built managed portfolios with names like Conservative, Moderate, Aggressive, and Emerald (which focuses on socially responsible investments). Each portfolio is a mix of exchange-traded funds (ETFs) covering Australian shares, US shares, bonds, and other asset classes. Raiz handles all the rebalancing and management — you literally set it and forget it.

You can also set up recurring automatic investments on top of round-ups. Want to invest $20 every week? Set it up once and it runs automatically. Combined with round-ups, this creates a powerful dollar-cost averaging engine that builds wealth quietly in the background.

The minimum investment is just $5, making Raiz the most accessible platform on this list. You don’t need to understand P/E ratios or candlestick charts. You just need to be able to download an app and link your bank account.

The Cons

• Monthly fees matter on small balances. Lite costs $2.50/month and upgrades above $1,500. Regular is $5.50/month with balance-based pricing above $26,000; Plus is $6.50/month or percentage pricing above $28,000. Portfolio exceptions apply. On a constant $500 balance, Lite’s $30 yearly subscription alone equals 6% before investment fees. Raiz fees.
• No individual stock picking. You can’t buy Apple or Tesla or BHP directly. You’re investing in pre-built ETF portfolios. For some people that’s a feature; for others, it’s a limitation.
• Returns are moderate. The managed portfolios are designed for steady, diversified growth. Don’t expect the excitement (or volatility) of picking individual growth stocks.
• Limited control. You can’t customise the portfolios beyond choosing the risk level. If you want to overweight tech or avoid certain sectors, you’re out of luck.
• Withdrawal times can take several business days, which is slower than selling shares on platforms like Stake or moomoo.

Who Should Use Raiz?

Raiz is perfect for people who know they should be investing but either don’t have the time, interest, or confidence to pick individual stocks. It’s the “just get me started” option. If you want investing to happen automatically in the background without you ever having to look at a stock chart, Raiz delivers that beautifully.

It’s also an excellent companion to a more active trading platform. You might use Stake for your US stock picks and Raiz for your “set and forget” long-term savings. The two approaches complement each other well.

Compare the Raiz plan you would actually use. A monthly subscription takes a larger percentage of a small balance, and Regular, Plus and some portfolios have different percentage-fee rules. There is no general fee-free-under-$1,000 rule.

Detailed Fee Comparison

Fees are where the rubber meets the road. Even small differences in brokerage, FX rates, and account fees compound dramatically over time. Here’s the full breakdown so you can compare apples to apples (or Apple shares to Apple shares).

Cost Example: Investing $500/month in US Stocks

Let’s make this concrete. Say you invest $500 per month into US stocks. Here’s roughly what each platform costs you per year in total fees (brokerage + FX):

These figures assume one purchase each month and no sales, subscriptions or promotional waivers. A final AUD cost needs a consistent exchange-rate assumption and each provider’s funding/conversion charges. Compare live quotes before choosing a cheapest platform.

Which App Should You Choose? A Decision Tree

Still not sure? Let’s make this easy. Answer these questions and I’ll point you to the right platform:

Can You Use Multiple Trading Apps? (Yes — And You Should)

Here’s something that isn’t immediately obvious: there’s absolutely no rule saying you can only use one trading platform. In fact, using multiple platforms is arguably the smartest approach, and here’s why.

The Multi-Platform Strategy

Each platform has a clear strength, so why not use each one for what it’s best at?

Stack the Sign-Up Bonuses

Every platform on this list offers some form of sign-up bonus — free stocks, cash rewards, or fee-free trading periods. By signing up for all of them, you can potentially collect hundreds of dollars in free stocks and bonuses before you even decide which platform becomes your daily driver.

This isn’t gaming the system. These platforms actively want you to try them, and the sign-up bonuses are their way of reducing the barrier to entry. Take advantage of every single one.

Managing Multiple Accounts

The practical concern with multiple platforms is tracking everything. Here are a few tips:

• Use a portfolio tracker like Sharesight (which is Australian and integrates with most of these platforms) to see all your holdings in one place.
• Keep a simple spreadsheet recording which platform holds what. This also makes tax time much easier.
• Assign each platform a clear role so you’re not randomly buying the same stock across three different apps.
• Remember tax obligations. Each platform will provide tax statements, but having multiple accounts means multiple statements to consolidate at EOFY. A good accountant or Sharesight makes this painless.

Important Risk Warning

Investing in shares and financial products involves risk. The value of your investments can go down as well as up, and you may receive back less than you originally invested. Past performance is not a reliable indicator of future results.

The information in this article is general in nature and does not take into account your personal financial situation, objectives, or needs. It should not be considered personal financial advice. Before making any investment decisions, consider seeking advice from a licensed financial adviser.

Commission-free trading doesn’t mean risk-free trading. Whether you pay $0 or $30 in brokerage, you can still lose money on the underlying investment. Only invest money you can afford to lose, and always do your own research (DYOR).

Frequently Asked Questions

Are these trading apps safe and regulated in Australia?

Yes. All five platforms featured in this guide are regulated by the Australian Securities and Investments Commission (ASIC). Stake, moomoo, Webull, Tiger Trade, and Raiz all hold Australian Financial Services Licences (AFSLs), which means they must comply with strict regulatory requirements around client money handling, dispute resolution, and disclosure. Your funds are held in segregated trust accounts, separate from the platform’s own money. This is the same regulatory framework that covers CommSec and NABtrade.

Is my money protected if one of these platforms goes bust?

Because client funds are held in segregated trust accounts, they should be protected even if the platform itself goes into administration. For ASX shares held via CHESS sponsorship (available through Stake, Tiger Trade, and moomoo for ASX trading), your shares are registered directly in your name on the ASX — they don’t belong to the broker and can’t be claimed by their creditors. For US shares held in custodian accounts, the shares are protected under US SIPC insurance (up to US$500,000) through the US clearing partners. However, it’s important to understand that no protection scheme covers you against investment losses — only against the platform failing.

What about tax? How do I report my trades to the ATO?

Each platform provides annual tax statements (usually available by September each year) that summarise your capital gains, losses, and dividend income. You’ll need to report this information in your tax return. For US stocks, you’ll also need a W-8BEN form (which the platforms typically handle during sign-up) to reduce US withholding tax on dividends from 30% to 15% under the Australia-US tax treaty. If you’re using multiple platforms, you’ll need to consolidate the statements from each one. A portfolio tracker like Sharesight can automate much of this, or simply provide all statements to your accountant.

Can I transfer my shares between brokers?

For ASX shares held under CHESS sponsorship, yes — you can transfer shares between CHESS-sponsored brokers using a broker-to-broker transfer. This typically takes 3-5 business days and may involve a small transfer fee. For US shares, transferring between platforms is possible but more complex, as it involves a transfer between different US custodians. It’s called an ACAT transfer in the US system, and not all platforms support incoming transfers. If you’re planning to switch platforms, check the specific transfer process with both the outgoing and incoming broker before you start.

What is CHESS sponsorship and why does it matter?

CHESS stands for Clearing House Electronic Subregister System, and it’s the settlement system used by the ASX. When your shares are CHESS-sponsored, they’re registered directly in your name with the ASX. You get a unique Holder Identification Number (HIN), and if your broker goes bust, your shares are still yours — they can’t be claimed by the broker’s creditors. The alternative is custodian-held shares, where the broker holds shares on your behalf. Both models are regulated and safe, but CHESS sponsorship gives you an extra layer of ownership protection. For US shares traded from Australia, custodian holding is the standard model used by all platforms.

Do I need an ABN to open a trading account?

No, you do not need an ABN (Australian Business Number) to open a personal trading account. You’ll need your Tax File Number (TFN), which you should provide to avoid having tax withheld at the highest marginal rate on any dividend income. You’ll also need standard identification documents (driver’s licence or passport) and an Australian bank account for deposits and withdrawals. The sign-up process on most platforms takes 5-10 minutes, and verification is usually completed within a few hours to one business day.

How do these apps make money if they don’t charge brokerage?

Platforms can earn brokerage, currency-conversion charges, subscription fees, margin interest or other revenue. Check each provider’s current disclosure and fee schedule. Some US share products have $0 brokerage; that does not make every market, trade or account free.

Should I still use CommSec or a traditional broker?

Traditional brokers like CommSec still have their place. If you need features like margin lending, options trading, complex order types, or corporate actions management (like participating in share purchase plans or rights issues), CommSec may be more suitable. Some people also prefer the comfort of using a big four bank-backed platform. However, for straightforward buying and selling of shares — which is what most retail investors do — these new platforms offer a dramatically better deal on fees while providing the same regulatory protections.

Final Verdict

The stock trading landscape in Australia has fundamentally shifted. You no longer need to accept $10-$30 brokerage fees as the cost of investing. These five platforms have proven that commission-free (or near-free) trading is sustainable, safe, and accessible to every Australian investor.

If I had to pick just one? Stake is the best all-round option for most Australians — particularly if US stocks are your focus. The US$3 standard brokerage, fractional shares, clean interface, and Australian ownership make it a compelling package.

But the smart move is to not pick just one. Sign up for Stake and moomoo at minimum. Use Stake for trading and moomoo for research. Add Tiger Trade if you want ASX CHESS sponsorship and global market access. Layer in Raiz if you want automated background investing. And grab Webull for the educational content and sign-up bonus.

Basic trading accounts can have no monthly subscription while still charging brokerage, conversion or other transaction fees. Raiz uses ongoing plan fees, and optional subscriptions or promotions have separate terms. Compare the ongoing cost after a welcome period ends.

Stop overpaying for something that should be free. Your future self will thank you.

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Disclaimer

The information provided on MoneyHack HQ is general in nature and should not be considered personal financial advice. We are not licensed financial advisers. All investment decisions should be made based on your own research and, where appropriate, in consultation with a licensed financial adviser. This article contains affiliate links — if you click through and sign up, we may earn a commission at no extra cost to you. Product information, fees, and promotional offers are accurate as of March 2026 but may change without notice. Always check the platform’s website for the most current details. MoneyHack HQ does not guarantee the accuracy or completeness of the information provided.