Copy Trading in Australia 2022

Best Online Social Trading in Australia

At TradersBest, we’re full of a team of social trading enthusiasts to help you make your platform decision easier! We’ll dive deep into what the best social trading platform in Australia looks like.

Our experts have curated this review to highlight how some platforms meet the top criteria to be considered as your final broker choice. So if you’re unfamiliar with how online social trading works or an advanced trader looking for a broker that aligns with their trading needs, this is the guide for you.

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Top Brands
90/100
85/100
88/100

Compare the best online social trading platforms in Australia

Rating
90/100
Order Fee National
Order Fee International
Deposit Protection
Firstrade Review Visit Site
Rating
85/100
Order Fee National
0.00%
Order Fee International
0.00%
Deposit Protection
$250,000.00
Rating
88/100
Order Fee National
0.50%
Order Fee International
0.50%
Deposit Protection
£50,000.00
Rating
80/100
Order Fee National
Order Fee International
Deposit Protection

Who should make use of this social trading comparison? – Beginner and advanced traders

At TradersBest, our team put together this review to help traders of different skill levels find the best social trading broker online in Australia. Platforms may be better suited for experienced users, and others can accommodate newbies, too, so we highlighted how these customers could benefit from our review.

Beginners

If you’re new to copy trading in Australia, you may find our review helpful as we can highlight the ins and outs of social trading platforms that you can take advantage of. Many successful platforms allow you to choose which financial market you want to trade with. So what better way than to get a feel of multiple market options on one platform. You can practise your trading strategies and discover which market is the best option to grow your skills in the long run.

Advanced users 

In contrast, more experienced social traders may know what to expect from a copy trading platform in Australia online. So our review can be a great resource if you’re considering joining a new broker to help you find a more suitable choice. Our team will help you discover what key criteria you’re looking for to enhance your performance in the future. Whether it’s like-minded advice from other social traders or a platform that has advanced trading tools, we’ll discover what you should keep an eye out for before deciding on a broker.

Our social investing Australia review discovered that it is completely legal to start social trading in the region. Like other popular financial markets, social trading is an excellent choice for new and experienced online traders who want to expand where their investments go. We recommend customers looking for potential social trading brokers to choose ones that have official Australian regulatory bodies attached to them. This will ensure your details are safe online.

Many sites claim to be the best social trading platform in Australia, but this could be too good to be true as some don’t have the authority to back up their services. If you’re new to the online trading world, we suggest you look at a range of social brokers to discover the difference between each site and see if they stick to the regulation guides of the country. Regional and international social trading platforms will be accessible in Australia. If you know of a popular worldwide broker, you can see if they’re legal to use in the country and try out your skills there.

Top 5 steps for a secure & fair social trading experience – developing your copy trading in Australia performance

At TradersBest, we want our readers to have the best online experience regarding social trading. So we curated our top five steps to ensure you’ll have the best experience with whatever platform you decide to register with. These steps can help both newbies and advanced traders make the most of the social trading platform in Australia options to narrow down their selection.

Discover if they’re regulated

The best online trading platform will most likely be regulated in Australia. Whether it’s an international option or local, you’ll have a more trustworthy time knowing your details won’t be compromised. Social trading online does come with its risks, like being able to trade some of the most volatile markets with prices that change suddenly throughout the day. But customers shouldn’t need to worry about any safety features not being met. Australia has a thriving online financial market, and if these platforms don’t stick to the strict rules, it could be a bigger risk to the funds you deposit.

Double-check the sites’ small print

We recommend that customers look through the platforms’ terms and conditions before and after making a trade. The ts and cs have essential information that you should understand before registering with the best online social trading in Australia broker. You could find out how much funds you need to deposit to start using the platform, so if you have a smaller budget, you might be better off using a broker that aligns with your requirements instead. You could also discover the minimum deposit and withdrawal amounts, so you know how to plan around the financial markets you hope to open and close positions in.

Read through customer reviews and opinions

Another key step is to look through the brokers’ honest customer reviews. Several trustworthy review websites allow previous and current customers to give their unbiased opinions about whether your chosen platform is as good as it claims. If you’re an advanced social trader, you may want an excellent selection of financial markets to trade. But the reviews might be able to advise you against a platform that only focuses on one market.

Check their security measures

We think platforms with advanced security features are another way to ensure your details are safe online. They might be regulated, but they should also have some protocols to keep your data between you and the site. Many sites will have a geo-tracker device that ensures that the customers joining their accounts use the platform from the location they registered with. In addition, trading platforms want their members to verify their identities by using a KYC (know your customer) procedure where your name, date of birth, address and email are inputted. You can then confirm this information with a valid photo ID, like a birth certificate or driving licence.

Look through customer service options

We finally suggest potential social trading users look through the platform’s customer support options. Brokers that respond are some of the best environments to help customers enhance their abilities in the long run. If you can find a service that is offered 24/7, even better as you can work around the clock to build your experience. Social trading platforms also allow members to communicate with others, so you can discuss the most popular assets and financial markets and work on building your strategies together on some of the best sites.

This is how our experts test social trading brokers – Our top criteria for social trading platforms in Australia 

At TradersBest, our highly-skilled team looks at the top criteria for helping you decide which online social trading in Australia broker is most suitable for you. Even if you’re unfamiliar with online trading, these tips will give you an insight into what the best platforms provide their customers.

Reliable payment methods

When registering with an account, you want to be able to use a common payment method that has secure online transactions. There may be a fee depending on the broker, but card payments, bank transfers, and eWallets are excellent options.

Easy to navigate design

For customers of different skill levels, copy trading in Australia can benefit from a simple platform design. It can make your trading experience more streamlined and your payments more efficient.

Trading on your mobile device

Many users prefer to social trade on the move rather than be tied to a computer screen. So why not consider the best brokers with mobile apps or mobile-optimised platforms to enhance your performance quicker.

Different account types

Experienced customers may benefit from a more advanced account type with larger budgets. But if you want to grow your performance, you may want the option of a smaller budget account type.

Check out our top-rated Online Social Trading in Australia:

90/100
Rating
FINRA - U.S. Financial Industry Regulatory Authority
Firstrade Stocks
Firstrade Review
Visit Site
Highlights
  • Trade in 5 US stock markets
  • Trade stocks after hours with extended hours
  • Low fees and no commissions
85/100
Rating
FINRA - U.S. Financial Industry Regulatory Authority
Robinhood Stocks
Highlights
  • Great investor protection
  • User-friendly web trading platform
  • Free US stock trading
88/100
Rating
Credit Card
CIMA - Cayman Islands Monetary Authority
FOREX.com Stocks
Highlights
  • 6 account base currencies provided
  • Variety of order types available
  • Great charting tools
80/100
Rating
Credit Card
FINRA - U.S. Financial Industry Regulatory Authority
TD Ameritrade Stocks
Highlights
  • Quality trading platform
  • Commission-free trading on stocks
  • Excellent research data and tools

Checklist: This is how you find YOUR perfect social trading broker! – Start copy trading on Australia today

We think it’s an excellent idea to determine what type of social trader you are, so if you’re new to the financial market, you can discover what you want to gain from the broker. And if you’re familiar with copy trading, you can work out what your next platform should include in its features to enhance your performance instead of limiting it.

  • How often do you want to social trade? – If you’re looking to use a social investing platform in Australia frequently, we recommend you find one accessible 24/7. Some financial markets are also open throughout the week and at weekends, so what better way to understand the broker than to use it more often. Some platforms encourage you to be more active as an inactivity fee could occur for keeping your account open and not trading, so keep that in mind.
  • Do you plan on expanding your financial markets? – If you think your goal is to diversify the assets, you trade once you’re comfortable with your trading techniques, then finding a platform with an excellent range of markets will benefit you in the future.
  • Will you take advantage of trading tools? – Some platforms have helpful features, like a demo mode to practise your trading strategy before spending real money. If you think this will help your experience, then look out for platforms with excellent trading tools, signals and indicators to take your performance to the next level.

What else can you trade online in Australia? – A thriving economy

In addition to social in investing Australia’s markets, residents have the opportunity to invest in some of the most popular and volatile financial assets worldwide, which include:

  • Cryptocurrencies
  • CFDs
  • Forex
  • Stock
  • ETFs
  • Commodities
  • Indices.

Conclusion – Start successfully copy trading in Australia

Overall, we found social trading an excellent financial investment for customers in Australia. If you’re new to using a social trading platform in Australia or have some advanced skills in different financial markets, our review highlighted the top criteria to find the most suitable broker for you and your trading requirements.

We recommend that residents give copy trading a try and experience fully-regulated platforms, simple to use designs, and accessible payment methods to deposit and withdraw from your accounts. For the latest social trading list Australia edition, check out our website. You can also learn about social trading in other regions, as we mentioned in our copy trading Canada review.

Firstrade
90/100
Firstrade Review
Visit Site

Social trading platform in Australia FAQ

🌏Which country has the best social trading sites?

At TradersBest, we look at a range of countries with different financial investment options, including in our copy trading USA review. And in our social trading platform in Australia guide. Check out our website to discover which countries have some more reliable brokers.

✍How do I create a social trading account in Australia?

Our website has some of the most comprehensive reviews to consider if you’re interested in social trading, including our social trading platform in India review. And our social investing Australia guides for customers looking to create an account. So check us out to discover how to register online today.

✅Is copy trading legit in Australia?

Several countries accept social trading, as we found in our social investing UK review at TradersBest. If you’re thinking about copy trading in Australia and if it’s legal to use in the region, discover our results on our website today.

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