Online Broking

Up until a few years ago, the only way individuals could buy and sell shares on the Australian Stock Exchange (ASX) was via a stockbroker. Now, with the rise of online broking companies, it is possible to set up an account and then buy and sell shares from your home, office or even a smartphone. Online broking allows you to choose what kind of securities you wish to invest in. Remember that most online broking companies don't limit you to stocks listed on the ASX, and many will allow you to trade managed funds, options, warrants and even in some cases stocks listed on overseas stock exchanges. There are many online broking platforms in Australia, and amongst the best known are Commsec (which is owned by the Commonwealth Bank), etrade (which is owned by ANZ Bank), Bell Direct, Suncorp, Westpac, and Macquarie Bank. In choosing your online broking platform, you should think about how many trades you are likely to do every month, and the kinds of securities you wish to trade. You should also look at the fees the online broking platform will charge you, both the brokerage fees that apply to every trade and the ongoing or monthly fees as well. You should also compare the research and tools that the online broking platform provides, as these may help you make more informed decisions on buying and selling securities. For example, some online broking firms have built a reputation for having very strong research arms that can give you excellent insights and recommendations on individual companies or sectors.

This is an information service. By browsing on the website and/or using our search tools, you are asking RateCity to provide you with information about products from multiple financial institutions. We will try to show you a range of products in response to your request for information. The search results do not include all providers and may not compare all features relevant to you, for further details refer to our FSCG. The rating shown is only one factor to take into account when considering these products. We are not a credit provider, and in giving you product information we are not making any suggestion or recommendation to you about a particular credit product. If you decide to apply for a product, you will deal directly with a financial institution, and not with RateCity. Rates and product information should be confirmed with the relevant financial institution, and you should review the PDS before you decide to purchase. See our terms of use for further details. This advice is general and has not taken into account your objectives, financial situation or needs. Consider whether this advice is right for you.