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Just spent way too much time comparing share trading platforms in Australia and honestly, finding cheap share trading options is actually easier than I thought. So if you're looking to get into the ASX without breaking the bank, here's what I found.
Mitrade's pretty interesting - it's CFD-only but zero commissions on the actual trades, just spreads. Then there's eToro which lets you buy real shares directly for just $2 a pop, and they've got that copy trading thing that's kind of wild. Webull is solid if you want cheap share trading on ASX stocks - $1 per trade or 0.03%, plus they've got this AI chatbot that summarizes financial reports for you, which is actually useful.
If you want something more established, CMC Invest waives fees on your first $1,000, then $11 after. They support MT4 which is cool if you're into that. Stake is mobile-only but super clean interface, $3 flat fee, and they've got this SMSF tax thing if you're into that. Moomoo just expanded to Australia and manages like $160 billion globally - $3 per ASX trade, fractional shares from $5, and you can access US options.
Interactive Brokers is the heavyweight - been around forever, 170+ markets, no minimum deposit. CommSec is the local OG with 30 years here, $5 per trade for ASX stocks. Honestly for cheap share trading, Webull and Stake seem like the best bang for buck if you're starting out.
The real difference between buying actual shares vs CFDs is whether you own them or just betting on the price. Share ownership gives you voting rights and dividends, CFDs let you short and use leverage but you can lose more than you put in. Most of these platforms want you to start with around $500 minimum, though some go lower.
Anyone here actually using any of these? Curious if the fees really matter once you get going or if it's all about the platform itself.