The best online share trading platforms in Australia 2024
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Share trading has exploded in popularity in recent years, particularly among younger Australians who are looking for ways to grow their wealth beyond the conventional means.
Whether you’re just learning the ropes or are a seasoned pro, having access to a quality trading platform, or even a share trading app for mobile, is essential. And for those who don’t know where to start, the Mozo Experts Choice Awards for Share Trading are here to help you find the best share trading platform for you.
When it comes down to it, there are lots of ways to define which share trading platforms are the best and ultimately the answer will depend on what you value as an investor.
But we hope to make your search easier by including information on a range of share trading platform options, some of which have picked up awards.
Featured share trading platforms
- moomoo share trading account
- CMC Markets - Standard
- moomoo share trading account
- GO Markets share trading account
- eToro Share Trading
- Tiger Brokers
- Macquarie Share Trading Gold
Expert picks: Mozo Experts Choice Award-winning online share trading platforms
Best Casual Trader Awards
moomoo share trading account
- No monthly fee
- Trade Australian shares starting at $3 per order (or 0.03% the transaction amount)
- Access to US shares and ETFs starting at USD $0.99 brokerage per order
The moomoo share trading platform offers customers access to ASX and US stocks, including ETFs. Trading Australian shares with moomoo starts at A$3.00 or 0.03% per order (whichever is larger). Trading US shares and ETFs will cost you USD $0.99 cents per order (there are a range of other fees so be sure to check the full T&Cs).
Trading with moomoo also gives users access to real-time global market data and analysis tools, so they can stay up-to-date and informed when trading. Through moomoo, investors can also stay in the loop with news from Bloomberg, Dow Jones, Benzinga, and other sources.
Best Active Trader Awards
CMC Markets - Standard
- $11 or 0.10% brokerage fee on trades over $1,000 (whichever is higher)
- $0 brokerage on first buy order up to $1,000 (limited to one stock per trading day)
- Easy access to 15 international markets
- Multiple 2024 Mozo Experts Choice Awards^ winner
CMC Markets offers a comprehensive service that will appeal to beginner and more experienced traders alike. You’ll be charged $11 or 0.10% on trades (whichever is higher), and $0 on your first buy order each day up to $1,000 (this is limited to one stock per day). CMC Markets picked up awards for Casual Trader, Regular Trader, and Active Trader categories and was also named our Online Share Trading Platform of the Year (Active Investor)^.
Other standout online share trading platform winners
The providers listed above weren’t the only ones to win big in this year’s Mozo Experts Choice Awards^. Some other major winners include: EasyEquities: Casual ASX Trader, Casual ETF Trader, Interactive Brokers: Casual US Trader, moomoo - Casual ASX Investor, Casual ETF Investor, Nabtrade - Regular Investor, Stake: Casual ETF Investor, Casual ASX Investor, Superhero: Casual ETF Investor, Webull: Casual US Investor
For the full list of this year's winners and to find out more about how the best online share trading platforms were selected, browse the Mozo Experts Choice Online Share Trading Awards^ methodology report.
Editor’s picks of the month: online share trading platforms on Mozo in October 2024
Below is a selection of some of the top deals available right now from our partners as selected by our editors. These are options that we think are worth highlighting for people wanting a great platform to buy shares and ETFs. You can also visit our share trading hub for more detailed product reviews and guides.
moomoo share trading account
- No monthly fee
- Trade Australian shares starting at $3 per order (or 0.03% the transaction amount)
- Access to US shares and ETFs starting at USD $0.99 brokerage per order
The moomoo share trading platform offers customers access to ASX and US stocks, including ETFs. Trading Australian shares with moomoo starts at A$3.00 or 0.03% per order (whichever is larger). Trading US shares and ETFs will cost you USD $0.99 per order and US Options will starts at USD $0.5 per contract (there are a range of other fees so be sure to check the full FSG). Other pass-through fees and FX costs not included.
Trading with moomoo also gives users access to real-time global market data and analysis tools, so they can stay up-to-date and informed when trading. Through moomoo, investors can also stay in the loop with news from Bloomberg, Dow Jones, Benzinga, and other sources.
GO Markets share trading account
- $7.70 flat brokerage fee per trade (up to $100,000)
- $0 monthly fee
- Access to ASX shares and ETFs
- Offer: $0 brokerage on first 15 trades (T&Cs apply)
- Funds held by Macquarie Bank in your own name
With a GO Markets share trading account, trade any listed shares and ETFs on the ASX and enjoy dedicated local customer support 24 hours a day, five days a week.
GO Markets offer a flat brokerage fee of $7.70 per trade up to $100,000, after which you'll pay a 0.05% fee per trade. It's free to open an account, transfer your HIN, and use both their web and mobile trading platforms, with zero monthly fees for access.
Offer: For new GO Markets customers, pay $0 brokerage for your first 15 trades (T&Cs apply).
eToro Share Trading
- $2 USD brokerage fee for stock trades
- 0.5% fee is applied to all funds paid into or taken out of the USD settlement account
- Access to Australian and US shares
- $100,000 free demo account
The eToro Share Trading account is free to open, doesn’t charge management fees, and charges no commission on stocks (other fees may apply). With eToro, you can invest in and trade Australian and US stocks and cryptocurrencies (1% brokerage fee on crypto). There’s even a free $100,000 demo account for beginners to practice trading with.
Offer: Buy US$100 Shares and get a US$10 bonus (T&Cs apply).
Tiger Brokers
- Worldwide access with one account: ASX, US & HK stocks, EFTs and US Options
- Earn up to 7.00% p.a fixed on your uninvested cash balance (T&Cs apply)
Tiger Brokers provides an online platform for investors who want to keep their brokerage costs to a minimum. Mozo’s readers can access a brokerage fee of 0.03% of the trade value, with a minimum brokerage of A$2.99.
Get worldwide access with one account, access to the Tiger Academy where you can participate in learning programs to help with your investment decisions and a $100,000 USD free demo account to practice with before you begin trading.
Offer for new customers:
Earn 7% p.a. on uninvested cash balance up to A$100,000 for the first 30 days, with a value up to A$575. Plus get USD $30 Nvidia (NVDA) fractional shares with an accumulated deposit greater than A$2,000 within 7 days of the first deposit. T&Cs apply – for full details, go to the Tiger Brokers website.
In 2024, Mozo data analysts put in the hard yards by examining 66 online share trading platforms from 31 providers to find the best options currently available in Australia.
Products were assessed on features and overall value, with the top 10% of products in each category picking up awards.
Below, we’ve highlighted some of the winners across different award categories for online share trading. To learn more about how they were determined, browse the Mozo Experts Choice Awards^ methodology report.
Customer favourites: Best online share trading platforms from 2024 Mozo People's Choice Award winners
But we didn’t just ask Mozo’s Experts about the best share trading accounts in Australia – we also conducted a national survey of 1,272 Aussie share traders to uncover the winners of the 2024 Mozo People’s Choice Awards^, showcasing which share trading platforms real customers loved.
These awards recognise the share trading platforms with the highest customer satisfaction, best service, and a range of other qualities.
2024 Mozo People’s Choice Award winners
Here’s a look at this year’s Mozo People’s Choice Award-winners and which categories they won in:
- CommSec: Outstanding Customer Satisfaction, Depth of Data and Well Designed Website / App
- HSBC: Outstanding Customer Satisfaction, Value for Money, Excellent Customer Service and Most Recommended
- CMC Invest: Depth of Data
- Macquarie: Depth of Data, Well Designed Website / App, Settlement Speed, Excellent Customer Service, Most Recommended
- Nabtrade: Well Designed Website / App
Macquarie Share Trading Gold
- 2024 Mozo People’s Choice Awards winner
- $19.95 brokerage fee per trade or 0.12% of the value of the trade (whichever is greater) for online trading
Macquarie received not one but five 2024 Mozo People’s Choice Awards in the Depth of Data, Well Designed Website / App, Settlement Speed, Excellent Customer Service and Most Recommended awards categories. The Macquarie Share Trading Gold account comes with a $19.95 brokerage fee per trade or 0.12% of the value of the trade (whichever is greater) for online trading, plus a $10 monthly fee.
Read the 2024 Mozo People’s Choice Awards^ methodology report for more details about the survey and a full list of winners across the different categories.
What's the best way to start share trading?
Before you start, it pays to understand how share trading works. Read our guide to share trading for beginners, or browse some of the resources on the ASX website. It’s also a good idea to brush up on how interest rates, exchange rates and government policy can affect the share market.
Once you’re confident in your knowledge, you can open an account with a share trading platform and start placing orders. The size of each order will be up to you, but most brokers will require your first trade to be at least $500 (this is known as the 'minimum marketable parcel of shares').
Keep in mind that each transaction will incur a brokerage fee, and if you buy only a small amount the fee will make up a larger percentage of your total investment. That means you might be waiting longer for your returns to even cover the cost of purchasing the asset.
Is share trading risky?
Yes, share trading can be risky. The value of your shares can rise and fall over time, meaning there’s always a chance you could get back less money than you originally put in. And if you invest in a single company and it goes bankrupt, you could lose all of your initial outlay.
While there’s no way to completely eliminate the risk involved in share trading, there are ways to minimise it. For example, it’s recommended that you diversify your portfolio by spreading funds across a range of industries and asset classes, instead of honing in on just one or two.
As always, it pays to do plenty of research - on any particular asset you might be thinking of buying and on share trading in general - so that you have a clear idea of the risks involved.
What's the best way I can invest in international shares?
Many share trading platforms offer access to share markets in the USA, with some providing access to markets elsewhere in the world. Exchange rates on currencies will usually be built into the price for any trades within these apps.
How do I know my shares are secure?
If your brokerage platform is CHESS sponsored, you will be issued a Holder Identification Number (HIN) when you sign up. This is a tag that is unique to you, and any shares you buy will be attached to it.
This is much more preferable than a custodian model, where the shares you buy are held on your behalf under an “omnibus” HIN. While brokers that rely on a custodian model tend to be cheaper, there are tradeoffs. For one, you won’t technically own your shares, which unfortunately means you’ll be granted fewer protections.
Other measures you can take to ensure your shares stay in your possession include using two-factor authentication (if the platform you use offers it), which adds an additional layer of security to your portfolio.
What is an Exchange Traded Fund (ETF)?
An exchange-traded fund (ETF) is a managed fund that tracks a particular index, sector or commodity. ETFs can be thought of as a bundle of shares or assets, and are appreciated by investors for the diversification they offer along with their relatively low management fees. Like shares, ETFs can be bought or sold on a stock exchange.
What is dollar cost averaging?
An alternative to trying to predict future market price movements, dollar cost averaging involves regularly investing the same amount of money in an asset, regardless of price, over an extended period of time.
The idea is that by buying when the market is both up and down, you can reduce the average cost of shares bought.
How so? Since the amount of shares you can buy with a fixed sum of money is lower when the price is high, dollar cost averaging lets you buy more shares when they’re cheap and fewer shares when they’re expensive.
Are these share trading platforms best for me?
We have highlighted some of our editor’s picks and products which have earned our seal of approval through the Mozo Experts Choice Awards^. Ultimately, you will need to consider your priorities as an investor to identify which options are best for you. Be sure to read the information provided on a product issuer’s website before making a decision.
Is share trading ethical?
When you invest, you'll have to decide for yourself if what you're investing in (in other words, supporting financially) aligns with your ethics.
For example, choosing to buy shares in a fossil-fuel mining company may be unethical to you if you're concerned about climate change and the impact such companies have on the environment.
Luckily, there are still ways to invest in ethically-minded companies and industries. One such way is by looking into ESG funds, which are all about getting you maximum returns and maximum ethical impact.
There are also plenty of ETFs out there which claim to invest with an ethical frame of mind.
How to make money buying and selling shares?
If you want to make money from buying and selling your stocks, then the basic principal is to 'buy low, sell high'.
In other words, you want to aim to sell your positions when the price is higher than what you bought them for.
Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.
While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.