Australia’s best share trading platforms of 2019

Mozo

Thursday 02 May 2019

When it comes to share trading, you want a platform that’s low on brokerage costs and packed full of handy features. But with an abundance of options out there, finding the right online share trading platform can be an ordeal.

Until now.

Mozo’s in-house team of money experts have just compared more than 60 share trading platforms from over 20 providers for the inaugural Mozo Experts Choice Awards for Online Share Trading, identifying the best options for casual, regular and active traders. Only the top 10% of winners in each category received the Mozo experts’ seal of approval.

Casual Trader Award Winners

If you trade infrequently you’ll want to make sure your potential earnings aren’t getting eaten up by hefty brokerage fees. Our experts found the best value options for traders who don’t make many trades per month, or deal mostly in smaller amounts.

CMC Markets - Classic

The Classic option from CMC Markets combines low brokerage fees and a world-class platform.  It is available for users who make less than 10 trades per month, and only costs $11 or 0.1% of each trade, whichever is greater. Casual traders will also appreciate the extensive educational resources available, including articles, ebooks, podcasts and videos.

Find out more about the CMC Markets Classic account

Self Wealth - Classic

At a flat $9.50 per trade, the Classic option from Self Wealth has some of the cheapest brokerage fees around. The platform allows you to view your daily performance, estimated earnings, and top stocks of the day. Self Wealth also issues a SafetyRating score, which lets you know how diverse your portfolio is, and a WealthCheck score, which measures its health. What’s more, you’ll be able to follow other investors and see how your decisions stack up compared to theirs. 

Find out more about the Self Wealth Classic account

Regular Trader Award Winners

This category awards the best options for those who trade regularly, but not so much they’d consider themselves pros. Our panel of experts considered both the brokerage costs and the range of tools available, such as live price data, market depth data, independent broker reports and SMS alerts.

Bell Direct - Gold

The Gold platform from Bell Direct  is available for $10 per month, or free after you’ve made 5 trades in a month, and offers access to static live data. On top of that, you’ll get plenty of useful extras to help you get ahead, such as detailed tax reports, trade recommendations, and a constant flow of expert research.

CMC Markets - Active Investor

A big part of CMC Markets’ appeal is its low brokerage fees and its suite of resources. The Active Investor option is available if you make up to 30 trades per month at a cost of $9.90 or 0.08% of each trade, whichever is greater. It comes with access to the Pro version of the platform, which lets you customise the platform’s interface to your liking and put the categories you care about front and centre. 

Find out more about the CMC Markets Active Investor account

IG

IG is one of the more prominent brokerage platforms out there, and with good reason. Brokerage costs are kept very low - $8 or 0.1% per trade, whichever is greater - but that’s not the only reason why it got the attention of Mozo’s experts. Regular traders will benefit from round the clock customer support, a monthly fee waiver, and the free Qantas points available with each trade.

Find out more about IG share trading

Active Trader Award Winner

If you’re the type that lives and breathes shares, you’ll want a feature-rich platform that lets you stay on top of the market and take advantage of opportunities as they arise. So when picking the winner in the Active Trader category, our experts put more stock in the range of features on offer than brokerage fees. Along with the tools considered in the Active Trader category, platforms had to offer webIRESS, the ability to trade options, warrants, ETFs, and access to international markets. 

CommSec with WebIRESS

With real-time data, comprehensive reports, and the ability to execute trades in a heartbeat, the CommSecIRESS share trading platform is perfect for serious traders. The platform ticked a number of important boxes, like real-time data streaming and desktop customisation to suit your trading style. What’s more, you get access to shares, options, warrants, CFDs, managed funds and EFTs across Australian and international markets. 

Find out more about the CommSecIRESS account

Exceptional Share Trading App

Anyone who’s serious about share trading needs a quality app to make sure they’re always on top of the market. When considering which apps were deserving of our Exceptional Share Trading App award, our experts looked at order management, watchlists, alerts, charting tools, frequency of updates to market data, research tools, and more. 

CommSec App

CommSec’s feature-heavy app comes with everything you need to trade on the go. Set up notifications and Watchlists, or get up-to-date snapshots of the market. If you need extra inspiration, the daily videos from CommSec’s team of experts is a good place to start.

Find out more about the CommSec Trading account

Westpac Online Investing App

Available for both iPhone and Android, the Westpac Online Investing App lets you buy and sell shares easily, no matter where you are. Packed full of handy features, you’ll be able to create Watchlists, view live market indices, and access plenty of charts and news. On top of that, you’ll also get real-time updates on market activity via the alert service, ensuring that perfect deal doesn’t pass you by.

For more information on how we decided on the winners for the Mozo Experts Choice Awards for Online Share Trading, our methodology report is available for reading.

And to learn more about share trading, be sure to check out our share trading comparison hub.

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