Best Feature-Packed Non-Bank Online Brokers
GOLD WINNER CMC MARKETS
Investors can take advantage of sharp pricing, powerful trading and research tools to build and manage their portfolios
This year’s award goes to CMC Markets for its range of products and competitive pricing structure.
Its innovative trading tools, news and research with advanced charting and intuitive interfaces were highly commended by users with different trading skills.
The platform has three tiers of users. Classic customers typically transact fewer than 11 trades a month and pay $11 or 0.10% for the first 10 trades. They have free access to the standard stockbroking platform and the Stock Screener analysis, as well as free tax and portfolio reporting with Sharesight for up to 10 holdings.
Active Investor customers usually register between 11 and 30 trades a month, paying $9.90 or 0.10% for the first 10 trades.
Finally, Premium Trader customers can make more than 30 trades a month and pay just $9.90 or 0.075% for all trades.
IG Group takes second spot, catering for beginners, professionals and institutional investors such as hedge funds, asset managers and family offices.
The platform provides access to 17,000 markets, with roundthe-clock pricing on global indices and extended hours on over 70 key US shares.
Customers can trade in a range of products and markets, from shares, foreign exchange, commodities to cryptocurrencies.
IG Group also offers customers algorithmic or automatic trading, which uses computer codes and chart analysis to enter and exit trades according to set parameters such as price movements or volatility levels. This can help investors execute trades almost instantly and save time from scanning the market.
Bell Direct has won third place for the affordable fees and competitive features it offers customers, who are either new investors or professionals, or are thinking about taking control of their superannuation and want to establish a self-managed fund that invests in shares.
The first 10 trades in a month incur $15 (up to $10,000), while mFund trades start from $30.
Customers have free access to email alerts, conditional orders, broker research, tax reports and data feed (delayed 20 minutes).
Frequent traders receive discounts, paying just $10 per trade if they transact more than 30 for the month.
Bell Direct’s premium service is ideal for experienced traders who want a constant stream of live market data, real-time charting and a customisable interface. Prices start from $27.50 a month for Platinum Live Streaming and $79 a month for Integrated Viewpoint.