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Compare International Share Trading Platforms

Compare international share trading platforms with our latest report. Find out who offers outstanding value on their policies.
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Latest in International Share Trading

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International Share Trading - April 6th

How to buy US Stocks and Shares in Australia

For some investors, trading in US stock markets can seem intimidating. Here are a few tips for Aussies looking to invest in the USA.

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International Share Trading - February 10th

Investing Overseas – Australians Are Isolated

Accessing international markets is easier than ever before. Considering foreign investments? Here are some of the risks and benefits.

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International Share Trading - February 9th

Hedged vs. Unhedged ETFs - Which One Is Better?

If you want to invest in ETFs you might not know whether to hedge or not - here's our guide to the pros and cons of both strategies.

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International Share Trading - October 27th

5-Star Rated platforms for international share trading

If you’re looking for an Outstanding Value trading platform, Canstar’s International Share Trading Star Ratings can help. Find out who won.

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International Share Trading - October 1st

FAANG Stocks – What are they & how can I buy them?

Facebook, Apple, Amazon, Netflix and Google (FAANG) – the tech giants that in many ways dominate the US stock market. So, how has 2018 treated FAANG stocks so far, and how can you get a piece of the action?

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View all in international share trading

Recent Award Winners

2020 5-Star Rated Platforms
IG Markets
Saxo Capital Markets (Australia)

View international share trading report

What is international share trading?

International share trading platforms allow you to access overseas exchanges and buy and sell shares from some of the biggest companies in the world. According to ASIC, Australian securities only make up around 2% of the global market, so by trading international shares, you can have a much wider range of investment options.

How do we compare international share trading platforms?

Canstar rates international share trading platforms using a sophisticated ratings methodology that compares both price and features.

Eligibility

To be considered within the Canstar International Share Trading Star Ratings, the provider must:

  • Offer trades on international exchanges in at least the US.
  • Offer online share trades in the US.

Price

The price score is based on 100 hypothetical trades in the US and accounts for any ongoing fees, brokerage costs and foreign exchange costs.

The price score is worth 50% of the final rating.

Features

The feature score accounts for the remaining 50% of the total score and takes into consideration a number of features from seven different categories:

  • Opening
  • Deposit and settlement
  • Research including charting, company information, market information, dynamic trading platform and alerts
  • Trade including capabilities, market access and margin loan
  • Account management
  • Customer service
  • Closing

Products are ranked based on the total score received for each profile. Stars are then awarded based on the distribution of the scores with the objective to award the top 5-10% of products with a 5-Star rating.

Which international share trading platforms does Canstar rate?

Canstar endeavours to include the majority of product providers in the market and compare the product features most relevant to consumers in our ratings. Complete market coverage is not always possible and some products or features may not be included.

In total, Canstar rated 18 products offered by 12 providers of international share trading platforms in 2020:

  1. ANZ Share Investing
  2. CMC Markets – Share Trading
  3. CommSec
  4. eToro AUS Capital PTY Ltd.
  5. IG Markets
  6. Interactive Brokers Australia PL
  7. nabtrade
  8. Phillip Capital Ltd
  9. Saxo Capital Markets (Australia)
  10. St.George Bank
  11. Stakeshop Pty Ltd
  12. Westpac

Compare International Share Trading Platforms

How do you buy international shares in Australia?

To directly trade international shares in Australia legally, you must use a broker. Many online share trading platforms and brokerage firms in Australia provide access to international trading.

Buying international shares can be more expensive than buying shares on the Australian Securities Exchange (ASX), with additional costs such as currency conversion fees and foreign security custody fees.

How do I open an international share trading account?

Who is eligible for an account?

Although the requirements can vary slightly depending on the platform, you generally need to:

  • be 18 years of age or older
  • have an Australian residential address
  • have an Australian mobile number.

What documentation or paperwork do I need before applying?

To apply for a new international share trading platform, you’ll need the following documentation:

  • Photo ID, such as your driver’s license, birth certificate or passport
  • Your Tax File Number (TFN) or exemption code.

If you’re applying in the name of a company or trust, you need:

  • The same photo ID
  • Your company’s Australian Business Number or TFN
  • Your Australian Company Number (ACN).

How do I start making trades on my international share trading platform?

Once you have an account, making trades for international shares isn’t really any different to buying Australian shares. Again, this may depend on your choice of provider, but generally, all you need to do is:

  • Select the trading menu and choose the international option
  • Navigate the menu until you find the stock you want to buy
  • Choose to either buy or sell
  • Enter the quantity of shares to buy or sell and choose whether it is to be at market or a limit
  • Enter the relevant security check if there is one.

What can you trade with an international share trading account?

The right international share trading platform can give you access to dozens of different international exchanges, including:

  • The New York Stock Exchange
  • NASDAQ
  • The London Stock Exchange
  • The Hong Kong Stock Exchange
  • The Tokyo Exchange; and more

Having access to these exchanges not only allows direct investment in shares, but can also enable the purchase of Exchange Traded Funds (ETFs), Exchange Traded Options (ETOs), managed funds, contracts for difference (CFDs) and other derivatives.  The brokerage and fees charged can vary between securities.

Do I have to pay more tax on international shares?

Depending on your circumstances, you may be subjected to foreign taxes on investment income from international shares. You may also be eligible for a foreign income tax offset from the Australian Tax Office (ATO). Seek professional advice for more information.*

*Canstar is not a registered tax agent and does not provide tax advice.

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*We are Australia’s Biggest Financial Comparison Site. Click here to learn more

This advice is general and has not taken into account your objectives, financial situation or needs. Consider whether this advice is right for you. Consider the product disclosure statement before making a purchase decision. Canstar provides an information service. It is not a credit provider, and in giving you information about credit products Canstar is not making any suggestion or recommendation to you about a particular credit product. Research provided by Canstar Research AFSL and Australian Credit Licence No. 437917.