Investing your hard-earned money can be both exciting and overwhelming—especially when you’re just getting started. One of the most important first steps is choosing the right investment broker. With so many platforms and providers available across Australia, it’s easy to feel lost in a sea of fees, features, and fine print.
This beginner’s guide will walk you through the key things to look for when selecting an investment broker, so you can invest with clarity and confidence.
1. Understand What an Investment Broker Does
An investment broker acts as your gateway to the financial markets. Whether you’re buying shares, ETFs, bonds, or cryptocurrencies, brokers execute trades on your behalf. Some also offer advice, research tools, or even managed investment options.
There are generally two main types of brokers in Australia:
- Full-Service Brokers – Offer personalised investment advice, market research, and portfolio management. Ideal for investors who want expert guidance.
- Online/Discount Brokers – Provide do-it-yourself platforms for trading at lower costs. Suitable for confident, hands-on investors.
2. Make Sure They’re ASIC-Regulated
In Australia, all legitimate investment brokers must be regulated by the Australian Securities and Investments Commission (ASIC). This ensures they meet strict financial and ethical standards, and that your investments are protected under Australian law.
Tip: Before signing up with any broker, check their ASIC licence number on the ASIC Connect website.
3. Consider What You Want to Trade
Different brokers specialise in different asset classes. Ask yourself what you’re most interested in:
- Shares and ETFs (Australian or global)
- Foreign exchange (Forex)
- Cryptocurrencies
- Options and futures
- Bonds and fixed income
Choosing a broker that offers the specific assets you want to trade will save you time—and potentially money—down the line.
4. Compare Fees and Commissions
Investment costs can eat into your returns, especially if you’re trading frequently. Brokers in Australia typically charge:
- Per-trade commissions (e.g. $9.95 per share trade)
- Percentage-based fees
- Account-keeping or inactivity fees
- FX conversion fees for international trades
Even “commission-free” brokers may build fees into the spread, so be sure to read the fine print.
Pro tip: Don’t just choose the cheapest broker—look for value. A low-cost broker with poor customer service or limited tools may cost you more in the long run.
5. Check the Trading Platform and Tools
A user-friendly platform can make or break your investing experience. Look for features such as:
- Real-time data and charts
- Mobile and desktop access
- Easy-to-navigate interface
- Custom watchlists
- Integrated research and news
If you’re a beginner, look for platforms that simplify the process and offer guidance. Many brokers also offer demo accounts—take advantage of these to test the platform before committing.
6. Assess Customer Support and Service
Things can go wrong—from forgotten passwords to unclear trade executions. Reliable customer support matters.
When evaluating a broker, consider:
- Availability (live chat, phone, email)
- Response times
- Local or overseas support teams
- Customer reviews and ratings
Look for brokers with positive feedback on service and responsiveness, especially if you’re new to investing and might need extra support.
7. Explore Educational Resources
Good brokers don’t just help you trade—they help you learn.
If you’re starting out, choose a broker that offers:
- Free webinars or video tutorials
- Beginner guides and glossaries
- Market insights and newsletters
- Simulated (demo) trading accounts
Educational support can speed up your learning curve and help you make more informed decisions over time.
8. Read Reviews and Compare Broker Reputation
Before committing, see what other Australians are saying. Look for independent reviews and real user feedback on:
- Ease of use
- Trustworthiness
- Fee transparency
- Withdrawal process
- Platform reliability
You can browse investment broker reviews by city and category here →
Final Checklist: What to Look For in an Australian Investment Broker
Before you choose, make sure your broker ticks the following boxes:
✔ ASIC-licensed and fully regulated
✔ Offers the assets you want to trade
✔ Transparent and competitive fees
✔ User-friendly trading platform
✔ Strong customer support
✔ Positive reviews and reputation
✔ Educational tools for beginners
Start Your Investing Journey with Confidence
Choosing the right broker is a crucial step on your investing journey—but you don’t have to do it alone. Our directory connects you with vetted, reviewed, and ASIC-regulated investment brokers across Australia.
Find an investment broker near you →
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