Global investing: 7 platforms that let you trade shares internationally and locally
One way Aussie investors try to diversify is by investing both locally and internationally. While you may only have access to Australian and US markets in a lot of cases, these both offer a wide selection of stocks and ETFs to choose from. For instance, the US stock market accounts for nearly 60% of the international stock market by size* .
There are several brokerage options to choose from to help your diversification plan, so let’s explore them below.
1. Tiger Brokers
You can trade US, ASX, & Hong Kong stocks as well as ETFs (exchange traded funds) on Tiger Brokers. Australian shares incur a small brokerage fee of $2.99 for trades up to $10,000 with any trades over instead incurring a brokerage fee of 0.03%. If you open a new account with Tiger Brokers, you can get one brokerage-free trade per month, subject to T&Cs.
*2. Moomoo
With moomoo, you can trade ASX, US, and Hong Kong shares and ETFs with over 22,000 across these markets. ASX shares come with CHESS sponsorship at $3 or 0.03% (whichever is higher) per trade, while shares from the US market are held as custodial and have a flat US$0.99 commission fee. Moomoo also has a social trading function where you can read posts from other traders.
3. eToro
eToro gives you access to the ASX and a wide range of global shares (including the US). But shares aren’t the only thing available on eToro. You’ll also have access to commodities, cryptocurrencies, foreign currency, and ETFs. Commission for shares when opening or closing a position is $1 or $2 depending on the market.
4. CMC Invest
CMC Invest gives you access to both the local ASX and a wide range of international markets. On top of this, you can also trade in forex. In addition, ASX shares have CHESS sponsorship, which means that they are held in your name. Also, your first ASX buy order of the day will be exempt from brokerage fees (restricted to under $1,000 per stock).
*5. Webull
Webull lets users invest in the Australian (ASX + CBOE Australia), US, and Hong Kong stock markets. US and Australian ETFs come with $0 commission while Hong Kong shares have a commission of 0.03% trade value up to a minimum of $15. Small brokerage for Australian shares is $4.90 on trades up to $16333.33. Anything over is counted as large brokerage with 0.03% of the trade.
6. Stake
Stake allows you to invest in both the Australian and US stock markets. You’ll pay a flat brokerage fee of $3 for trades up to $30,000 ($3 in AUD for ASX and USD for Wall st). Any trades larger than $30,000 (AUD/USD) will have a 0.01% brokerage fee. You’ll get access to 2000 shares and ETFs on the Australian stock market and over 6,000 in US ones. ASX stocks also have CHESS sponsorship.
7. Selfwealth
Selfwealth allows you to trade both US and ASX shares (with CHESS sponsorship), giving you access to a sizable portion of stocks at home and internationally. Both Australian and US shares have a flat brokerage fee of $9.50 AUD and USD respectively, regardless of trade size.
How to select a share trading platform
Keep in mind that this list is not exhaustive and many other brokerage providers let you trade and invest both locally and abroad. For most investors, the Australian and US markets can offer enough diversification.
Not sure which one is right for you? At Mozo, we have comparisons of stock brokerage platforms to help you find the one that meets your investing goals.
It's important to remember that investing in the stock market carries risk and past performance is not indicative of future results. It's always good to consult with a financial advisor before making any investment decisions.
Also, do note that this list is not exhaustive and there are many other available brokerage providers that let you trade and invest both locally or abroad. Not sure which one is right for you? At Mozo we compare a list of all the stock brokerage platforms on our database, helping you to make the best decision for your financial needs.