Investing apps make it easy to put your money into the market while you’re on the go. That’s important since it makes it as convenient as possible to put away money for your future or to stay one step ahead of the market.
With the best investment apps Australia, you can pick out stocks and ETFs, trade forex, or build a diversified portfolio from anywhere. Many of these apps are just as comprehensive as a traditional desktop platform – and in some cases, even more so.
In this guide, we’ll take a closer look at the 6 best investment apps Australia to help you find the one that’s right for you.
- 1 Best Investment Apps Australia 2020 List
- 2 Best Investing Apps Australia Reviewed
- 3 How to Choose the Best Investment Apps Australia for You
- 4 How to Download the Best Investment App Australia & Start Trading
- 5 Best Investment Apps Australia – Conclusion
- 6 eToro – Overall Best Investment App Australia
- 7 FAQs
Best Investment Apps Australia 2020 List
There are dozens of investment apps in Australia. They range from beginner-friendly robo-investing platforms to in-depth technical trading apps.
Here, we’ve rounded up the 6 best investment apps Australia for every type of trader and investor:
- eToro – Overall Best Investment App Australia – 0% Commission
- Plus500 – Best CFD Trading App with Low Spreads
- Capital.com – Best Mobile CFD Trading App for Beginners
- Selfwealth – Best Share Dealing App in Australia
- Raiz – Best Robo-Investment App Australia for Low Fees
- Westpac – Best Investment App Australia for Global Securities
Best Investing Apps Australia Reviewed
The top investment apps in Australia are all very different from one another. To find the one that’s right for you, let’s take an in-depth look at what each app offers. Whether you’re you’re looking for the best investment apps for beginners or the top stock apps Australia, we’ve got you covered.
1. eToro – Overall Best Investment App Australia – 0% Commission
The eToro app is our overall best investment app Australia. This versatile app offers trading on thousands of stocks from around the world, including over 800 from the US and hundreds more on the Australian stock market. Even better, eToro allows you to choose between buying shares outright or trading stock CFDs with leverage up to 5:1.
eToro also enables you to invest in more than just stocks. This brokerage app offers CFD trading for more than 40 forex pairs, 25 commodities, and 15 cryptocurrencies. All CFD trading with eToro is 100% commission-free and the platform charges very competitive spreads.
The eToro app is available for iOS and Android devices and provides an excellent platform for long-term investors and short-term traders alike. It’s easy to sort through the thousands of securities being offered thanks to simple, customizable watchlists and a helpful search function.
Short-term traders will find detailed technical charts that can be expanded to use your full screen. There’s also a simple drop-down menu that enables you to add and customize over 100 technical indicators.
For long-term investors, eToro offers research from professional stock analysts. You can see what analysts think a stock will be worth one year from now, as well as whether they rate it a buy, sell, or hold. The app also offers a simple breakdown of companies’ financial data so you can get a sense of how they stack up against competitors.
The eToro app also stands out for serving as a social network. You can follow other traders and copy their portfolios in just a few taps. This is an especially great way to build a specialized portfolio – say, one that focuses on renewable energy or AI companies.
eToro is regulated by the Australian Securities and Investments Commission (ASIC). The platform makes payments easy since it accepts credit or debit cards as well as PayPal, Neteller, and Skrill. Plus, customer support is available 24/5.
- Thousands of global stocks
- 0% commission on CFD trades
- User-friendly interface with full-screen charts
- Includes analyst research and fundamentals
- 24/5 customer support
- Doesn’t support Google Pay or Apple Pay
67% of retail investors lose money trading CFDs at this site.
2. Plus500 – Best CFD Trading App with Low Spreads
Plus500 is another highly rated brokerage app in Australia. In fact, the app has a 4-star rating in the Google Play store with more than 90,000 reviews.
This trading app offers CFD trading only with a selection of more than 1,900 stocks from around the world. Plus500 is somewhat light on ETFs, with only around 95 funds available to buy, but the app also offers trading on 70 currency pairs, 25 commodities, and 14 cryptocurrencies.
All trades on Plus500 are 100% commission-free. Even better, Plus500’s spreads are among the lowest we’ve seen from any CFD broker in Australia. For example, you can typically trade shares with a spread of just 0.1 to 0.2%. Plus500 does charge an inactivity fee after just 3 months, but you can avoid this simply by logging into the app – just don’t forget to do it!
The Plus500 app itself offers a seamless experience. Assets are categorized for easy navigation and you can sort them using a number of filters to find investing opportunities. In addition, you can tag any asset as a favorite simply by tapping the star icon next to it.
Plus500’s mobile charting capabilities are also quite good. The app gives you access to more than 90 technical indicators, all of which you can add and modify with just a few taps. You can also expand charts to take up your full screen simply by turning your smartphone sideways.
We were disappointed to find that the Plus500 app doesn’t offer fundamental data for stocks, though, which is important for long-term investors looking for a bargain. There also isn’t much analyst research available on the app, although you will find a built-in news feed and an economic calendar.
Plus500 is regulated by ASIC and offers 24/7 customer support by live chat, which is available from inside the app. This broker also supports an extremely wide number of payment methods, including Google Pay and Apple Pay.
- 0% commission trading with low spreads
- Easily save stocks as favorites
- Full-screen charts with 90+ indicators
- 24/7 customer support within the app
- Supports Google Pay and Apple Pay
- Inactivity fee after just 3 months
- Limited fundamental data or analyst research
80.5% of retail investors lose money trading CFDs at this site.
3. Capital.com – Best Mobile CFD Trading App for Beginners
Capital.com is another 0% commission CFD broker with an extremely user-friendly investing app for Australians.
This app stands out in particular for the number of educational tools it contains for new investors. For example, the app has an entire library of videos that run you through the basics of investing, covering topics like leverage, trend trading, and more. The videos are short and easily digestible, and they do a nice job of introducing complex topics that new investors need to be aware of.
It’s also noteworthy that you can trade with a demo account inside the Capital.com app. This gives you a chance to try out the app’s advanced features and get comfortable with investing before you risk real money.
We can’t say that the way the Capital.com app presents assets is quite as easy for beginners to read. Instead of simply showing securities with their day’s gain or loss, Capital.com shows the buy and sell price separately as you scroll through assets. This might be good for traders, but it’s somewhat distracting for long-term investors looking for opportunities.
The charting interface is also a little overcomplicated. It’s difficult to modify technical indicators since you have to use sliders, and anyone lacking ultra-nimble fingers will have trouble adjusting the sliders to the right values. Still, we liked that the Capital.com app supports full-screen charts and gives you access to dozens of technical indicators.
Capital.com offers CFD trading only, but the broker has a huge selection of assets. You can trade over 3,000 stocks, 142 forex pairs, and 82 cryptocurrencies. Trades are 100% commission-free and Capital.com doesn’t charge an inactivity fee – a major plus for long-term investors who want to buy and then forget about their investments for a while.
This broker isn’t regulated by ASIC, but rather by the UK’s Financial Conduct Authority and the Cyprus Securities and Exchange Commission. Both are considered top-tier regulators. You can make payments to Capital.com by debit card, credit card, or Apple Pay, but the broker doesn’t accept Google Pay at this time and you must convert AUD to USD when making a deposit.
- 0% commission CFD trading
- Over 3,000 stocks to trade
- Excellent educational videos for new investors
- Includes demo account inside app
- Supports Apple Pay
- Must convert funds to USD upon deposit
- Difficult to adjust technical indicators in the app
Your capital is at risk.
4. Selfwealth – Best Share Dealing App in Australia
Selfwealth is a relatively small Australian share investing platform, with just over 67,000 users.
This platform only offers share dealing, not CFD or multi-asset trading. You can buy and sell thousands of shares and ETFs from the ASX, the NYSE, and the NASDAQ, but Selfweatlh doesn’t offer shares from the UK, Europe, Asia, or even New Zealand.
Selfwealth charges a flat commission of $9.50 per trade. Compared to traditional brokers in Australia, that’s a massive discount. It’s also notable that there are no inactivity fees, foreign exchange fees, or any other fees to worry about.
Part of what makes Selfwealth different from other share trading apps is that it’s emphasis is less on trading individual stocks and more on building successful long-term portfolios. The mobile app has portfolio performance tracking tools built in.
For example, you can easily see how your investments stack up against a market index or against a custom target portfolio. You can also monitor other users’ portfolios and compare your portfolio’s performance against theirs’. Selfwealth even does this automatically, letting you know what performance percentile you fall in relative to all of the broker’s clients.
The Selfwealth mobile app looks a little bit more like a traditional brokerage app. It’s crowded with information, especially on the stock pages. You also won’t find simple buy and sell buttons – you need to fill out a trade order form and review it in order to execute a trade.
That said, long-term investors won’t mind this friction, and the information-dense approach of the app can be useful. Included in all the data are fundamental financials for every company, as well as safety ratings that are based on stocks’ historical volatility. The lack of in-depth technical charts also makes the app easier for first-time investors to navigate.
Selfwealth is regulated by ASIC. You can only transfer funds by direct deposit or BPay, not using a debit or credit card. The app also doesn’t support Google Pay or Apple Pay.
- Low commission with no other fees
- Offers all ASX-listed shares
- Compare your portfolio against target allocations
- Detailed fundamental data available
- See how you stack up against other Selfwealth investors
- Limited payment methods
- App is somewhat crowded and clunky
- Only Australian and US shares
Your capital is at risk.
5. Raiz – Best Robo-Investment App for Low Fees
Raiz, formerly known as Acorns, works very differently from the other money investment apps on our list. Instead of picking from thousands of individual stocks to build a portfolio, with Raiz, you choose from one of 6 pre-made portfolios. The portfolios invest in ETFs and range in approach from ‘Conservative’ to ‘Aggressive.’
Thanks to this approach, it’s incredibly easy to get started with Raiz. Just sign up for the app, answer a few questions about your investing goals and risk tolerance, and Raiz will automatically suggest one of its portfolios for you to invest in. Your portfolio is automatically rebalanced over time to keep your money on track without any work on your part.
The app is also very streamlined. Instead of technical charts and flashing price indicators, you just see a simple summary of your account balance and your portfolio’s growth over time.
Once you’re invested, you can take advantage of the Raiz app’s features to help you grow your investment over time. To start, the app enables you to set up daily, weekly, or monthly recurring transfers from your bank account to your portfolio so you never forget to put away money for the future.
You can also link your bank account to take advantage of round-ups. With round-ups, every time you make a debit card transaction, your purchase is rounded up to the nearest dollar and the spare change is transferred to Raiz and invested in your portfolio. This is a great way to take part in micro investing – investing just a few cents at a time.
Raiz charges a simple account management fee of $2.50 per month if you have less than $10,000 in your account or 0.275% per year if you have more than $10,000 in your account. There’s no minimum balance to worry about and you never pay for deposits or withdrawals.
- 6 pre-made portfolios
- Invests in ASX-listed ETFs
- Automatic rebalancing over time
- Supports round-ups for debit card transactions
- Simple fee based on your account value
- Very limited flexibility in choosing portfolio
- Little information about what ETFs you invest in
Your capital is at risk.
6. Westpac – Best Selection of Global Securities
Westpac is one of the ‘big four’ banks in Australia and one of the country’s largest investment firms. As such, this investment platform is able to reach into every corner of the global market and offers an incredibly wide selection of securities.
To start, Westpac offers share dealing for over 2,200 ASX-listed stocks and thousands more from over 25 international markets. You can trade virtually any company on the S&P 500 index in the US or the FTSE 250 index in the UK. Westpac also offers thousands of global ETFs, making it a good choice for long-term investors who want to build a custom portfolio using low-cost ETFs.
The main drawback to Westpac is its fees. This broker charges a commission of $19.95 per trade or 0.11% of your trade value, whichever is greater. For US share trades, Westpac charges $19.95 USD for trades up to $5,000 USD, $29.95 USD for trades up to $10,000 USD, or 0.31% of your trade value for trades of more than $10,000 USD.
On the bright side, Westpac doesn’t charge any monthly account fees, deposit or withdrawal fees, or inactivity fees.
The Westpac mobile app is surprisingly nimble and comprehensive for a traditional brokerage. Westpac’s app offers features like full-screen technical charts, a vertical market news feed that you can scroll through, and unlimited watchlists. Investors will especially like that Westpac’s app offers up to 3 daily trade ideas, which are hand-picked by the firm’s analysts.
Another thing that we liked about the Westpac mobile app is that it offers more control over your market orders than most other investment apps. You can not only set price limits for your orders, but also create multi-parameter conditionals that account for commonly used technical indicators. The net result is that you can set orders ahead of time and know that they’ll be triggered only when a certain set of favorable conditions is met.
Westpac makes it easy to deposit money into your investing account if you’re a Westpac banking customer, since you can transfer funds between accounts using the app. However, this platform only accepts payments by bank transfer, so it can be inconvenient if you want to pay with an e-wallet or mobile wallet.
- Thousands of ASX and global shares
- Thousands of global ETFs
- 3 daily trade ideas
- Conditional market order entry
- Integration with Westpac bank accounts
- Very high commissions
- Only accepts bank transfers
Your capital is at risk.
How to Choose the Best Investment Apps Australia for You
As you’ve seen from our list of the best investment apps Australia, these apps are tailored to many different types of investors. So, how do you choose the app that’s right for you?
Let’s take a closer look at some of the key factors to consider when choosing an investment app.
Regulation may not be the most exciting thing to think about when picking an investment app, but it is one of the most important factors you should consider. Regulated brokers have to follow strict rules to keep your money safe and to ensure that you’re getting fair trades with no funny business when it comes to pricing.
Most of the best investing apps Australia are regulated by the Australian Securities and Investment Commission (ASIC), which is the country’s top financial watchdog. ASIC is recognized around the world as one of the toughest financial regulators, so you can generally trust an ASIC-regulated broker.
Some investment apps that operate in Australia are regulated by other countries’ financial watchdogs. That’s not a problem as long as the regulators are known to be reliable. Any apps operating in Australia still have to follow many of the rules set by ASIC.
Investing apps offer a lot of tools to help you manage your money and spot opportunities. But for all of those tools to be useful, the app needs to organize them in a way that provides an excellent user experience.
Many traditional brokers in Australia focus on their web or desktop platforms at the expense of their mobile apps. That’s a big reason why all 6 of our top-rated investment apps are relative newcomers – brokers that understand what users need from a mobile experience and are able to combine that with powerful investing tools.
To make sure you’re getting a strong mobile user experience, look for features like full-screen technical charts and lists of securities that you can scroll through. It’s also helpful to have the ability to tag assets as favorites or add them to a watchlist in just a few taps.
Another thing to consider is the overall layout of the app. We typically prefer apps that have an always-accessible search bar, as well as tabs that enable you to quickly move between your current portfolio, charts, research, and watchlists.
What assets are available to trade is another major consideration when choosing an investment app. Ultimately, what assets you need comes down to your investing goals.
Most investors will want access to stocks and ETFs. All of the apps we reviewed provide this, and most offer a selection of thousands of shares from around the world. However, not every app offers a huge selection of ETFs – some offer just a few dozen funds, while others, like eToro, offer hundreds.
It’s also important to consider whether you want to build your own portfolio or invest in one that’s ready-made for you. Raiz offers a selection of 6 pre-made portfolios, while eToro enables you to copy the portfolios of professional traders on its massive social network.
You should also note whether your investment app allows you to buy shares outright or whether you can only trade CFDs. There is little practical difference for many long-term investors, but short-term traders may prefer CFDs because they enable you to leverage your trades.
If you want to branch out beyond stocks and funds, look for trading in forex, commodities, stock indices, and cryptocurrencies. Many of the investment apps we reviewed offer these assets.
Fees are a major concern with any investment app. Typically, brokers make money through one of two fees: commissions or spreads.
Commissions are fixed fees that you’re charged every time you make a trade. Spreads are variable percentage fees that are baked into the buy and sell prices of securities.
Which type of fee is more expensive comes down to how much you trade and how much these fees cost. In general, 0% commission investment apps with low spreads are cheaper for most investors.
Some investment apps also charge account fees. For example, you might face a monthly account management fee, like with Raiz. You might also be charged an inactivity fee if you don’t log into your account or place a trade for several months. These inactivity fees can be easy to avoid as long as you remember them.
Trading tools & features
The trading tools that each investment app offers can vary widely. In apps focused on helping you build your own portfolio, look for in-depth technical charts that you can use to spot setups and price trends. Watchlists are also extremely helpful, since you can keep an eye on companies you like and purchase them during a price dip.
It’s also a good idea to look for professional analyst research, which can help you figure out what ‘smart money’ thinks about a particular asset. Many apps also offer a market sentiment indicator, which shows you whether other investors using the app are net buying or net selling an asset.
Another helpful feature to look for is recurring investments, which enables you to automatically transfer money for investment at daily, weekly, or monthly intervals. This ensures that you’re consistently saving money to invest.
One thing that most investment apps in Australia don’t offer, but we’d like to see more of, is portfolio analysis tools. Selfwealth offers a portfolio performance comparison feature, but it doesn’t give insight into whether your portfolio is fully diversified.
Before you sign up for an investment app, check to see what payment methods the app allows to fund your account. Nearly all brokers will accept bank transfers, but those aren’t always the most convenient way to pay.
Instead, look for mobile-friendly methods like Apple Pay and Google Pay. If you use e-wallets like PayPal, also check whether your broker accepts payment from these online services. Some brokers even accept debit or credit cards for payment.
If you ever need help with your investment account, it’s nice to know that customer service is readily available. Be sure to check the hours of your app’s customer service team – some brokers offer 24/5 or 24/7 customer support, while others have limited business hours.
In addition, consider the options you have for getting in touch. Can you call or get connected immediately through live chat, or do you have to send an email and wait days for a response? If a broker offers live chat, make sure it’s accessible from within the mobile app.
How to Download the Best Investment App Australia & Start Trading
Ready to start trading with the best Aussie investment app? We’ll show you how to get started with eToro, which offers multi-asset trading with 0% commission, powerful trading tools, and a seamless mobile experience.
1. Download the eToro App
To begin, open the Google Play store or Apple App Store on your smartphone and search for ‘eToro.’ Download and install the app onto your device.
2. Sign Up
Next, register for a new eToro account. Open the eToro app and tap ‘Join Now.’ Then enter a new username and password and click ‘Create Account.’ Alternatively, you can sign in to eToro using your Google or Facebook accounts.
Before you can start trading, you’ll need to verify your identity to comply with Australian financial regulations. Snap a photo of the picture page of your passport or your driver’s license and upload it to the app. You’ll also need to take a photo of a recent utility bill that shows your address.
3. Deposit Funds
The next step is to fund your investment account. eToro requires a minimum deposit of $200. You can pay by debit or credit card, PayPal, Neteller, Skrill, or bank transfer. Note that eToro does not support Google Pay or Apple Pay at this time.
4. Start Trading
Now you’re ready to start buying and selling stocks, forex, cryptocurrency, and more with eToro. Head to your account dashboard and browse assets, or search for a specific stock or security by tapping the magnifying glass at the top of the screen. When you find the asset you want to trade, tap on it and then tap ‘Trade.’
That will open a new order form, where you can enter the details of your trade. Select how much you want to invest in your position, whether to add a stop loss or take profit price, and whether to leverage your trade (when trading CFDs). Keep in mind that trading with leverage adds risk.
When you’re ready, click ‘Open Trade’ to make your first investment with eToro.
Best Investment Apps Australia – Conclusion
Investing in Australia doesn’t have to be hard – and with the best investment app, you can start growing your money from anywhere. The top investment apps offer an excellent mobile user experience, trading tools that are just as powerful as what you’d get on a desktop platform, and a huge range of assets to trade.
Ready to start trading with the best investment app Australia? Click the link below to sign up for eToro today!
eToro – Overall Best Investment App Australia
67% of retail investor accounts lose money when trading CFDs with this provider.
Do the best investment apps Australia charge a monthly account fee?
Most investment apps in Australia do not charge a monthly fee. However, watch out for account-based management fees (like at Ruiz) or inactivity fees (like at Plus500 and eToro).
Can I contribute to my superannuation account through an investment app?
Ruiz (formerly Acorns) allows you to manage an existing superannuation account. However, none of the other investment apps we reviewed support superannuation accounts.
Can I invest in US stocks with an investment app?
All of the best investing apps Australia we reviewed allow you to invest in both ASX-listed and US shares.
What is ASIC?
ASIC is the Australian Securities and Investments Commission. This agency is the top financial regulator in Australia and sets the rules that investment apps must follow.
Can I invest in mutual funds with an investment app?
Most Australian investment apps allow you to invest in ETFs, not mutual funds. ETFs offer the same level of diversification and work similarly to mutual funds, but they are typically much cheaper to invest in.