Choosing the right share trading platform is one of the most important decisions Australian investors make. The platform you select affects your fees, experience, available markets, and long-term returns.
Three platforms consistently rank at the top for Australian retail investors: moomoo, Stake, and SelfWealth. Each has distinct strengths. This guide compares them head-to-head so you can pick the right fit for your investing goals.
Quick Comparison: The Essentials
Here's a snapshot of how these three platforms stack up on the factors that matter most to Australian investors:
| Factor | moomoo | Stake | SelfWealth |
|---|---|---|---|
| ASX Brokerage | $0 (free) | $0 (free) | $10 flat |
| US Stock Access | Yes (commission free) | Yes (low fees) | Limited |
| ETF Trading | Free | Free | $10 per trade |
| Research Tools | Excellent | Good | Basic |
| Mobile App | Excellent | Good | Good |
Detailed Platform Analysis
moomoo: Best Overall for Serious Investors
Why choose it: moomoo offers zero brokerage on ASX trades and exceptional research tools. It's ideal if you want advanced charting, real-time data, and access to US markets without worrying about commission costs.
Fees: Free ASX trades, $1 USD per US stock trade, competitive FX rates
Best for: Active traders, ETF investors, people researching before they buy
Drawback: Can feel overwhelming if you're a complete beginner due to advanced features
Stake: Best for US Stock Access
Why choose it: Stake specializes in making US shares simple for Australian investors. Free ASX trading, fractional shares, and a clean, beginner-friendly interface make it perfect for people who want to build a diversified US/AU portfolio.
Fees: Free ASX trades, US trading includes spread-based pricing
Best for: Beginner to intermediate investors, US market exposure, fractional shares
Drawback: Less advanced research tools compared to moomoo
SelfWealth: Best for Budget-Conscious Investors
Why choose it: SelfWealth charges a flat $10 per trade. If you make fewer than 5 trades per month, this keeps costs down. It's straightforward and Australian-owned, which appeals to many local investors.
Fees: $10 per ASX trade (flat rate), no US market access
Best for: Buy-and-hold investors, dividend portfolio builders, low-frequency traders
Drawback: Higher cost for active traders, limited to Australian markets
Head-to-Head Comparison by Use Case
For ASX Dividend Investing
Winner: moomoo or Stake
Both offer free ASX trades. moomoo edges ahead with better dividend tracking tools, but Stake is simpler for beginners.
For ETF Portfolio Building
Winner: moomoo
Free ETF trades, zero commissions, and excellent research make moomoo unbeatable for ETF investors. You can build a diversified portfolio without paying per-trade fees.
For US Stock Exposure
Winner: Stake
Stake is built for US investing. Fractional shares, a clean interface, and straightforward pricing make it the easiest option for Australian investors wanting US market access.
For Active Trading
Winner: moomoo
moomoo's research tools and zero commissions make it ideal if you trade frequently. The advanced charting and real-time data pay for themselves through better trading decisions.
Key Differences in Detail
Brokerage Fees
moomoo and Stake both charge zero for ASX trades. SelfWealth charges $10 flat. Over a year, if you make 12 trades, that's $120 on SelfWealth vs $0 on the other two. The difference compounds.
Research and Tools
moomoo offers professional-grade charting, screeners, and analysis tools. Stake provides solid research but leans on simplicity. SelfWealth keeps tools minimal.
Mobile Experience
All three have good apps. moomoo's is most feature-rich. Stake's is the simplest and most beginner-friendly.
What About Currency Conversion?
If you're buying US stocks, currency conversion costs matter. Stake uses a spread-based model. moomoo offers competitive rates. Both are reasonable for Australian investors accessing US markets.
Our Recommendation
Start Here:
For most Australian investors, moomoo is the best choice. Zero brokerage on ASX and ETF trades, excellent research tools, and US market access make it the most versatile platform. If you want simplicity and primarily trade US stocks, Stake is your best bet.
Open both moomoo and Stake accounts (there's no cost) and see which interface you prefer before committing.
Final Comparison Table
| Feature | Rating (out of 5) | Best For |
|---|---|---|
| moomoo | 4.8/5 | Serious investors, diversified portfolios, research-focused traders |
| Stake | 4.5/5 | Beginners, US stock enthusiasts, fractional share investors |
| SelfWealth | 4.0/5 | Low-frequency traders, Australian market only |
Disclaimer: This article is for educational purposes only and does not constitute financial advice. Platform features and fees can change. We recommend verifying current terms on each platform's official website before opening an account. We may earn commissions from affiliate links at no cost to you.