ASX reveals Australia’s favourite investments, rise of online share trading platforms

A young professional holds a smart tablet with an up-and-down price graph projecting out of the screen

The popularity of share trading in Australia is taking off, according to the Australian Securities Exchange’s (ASX) latest report, the Australian Investor Study 2023. 

More and more are joining the ranks of Australia’s investors, choosing to buy shares in Australian companies, crypto and exchange-traded funds (ETFs), and doing it all (for the most part) through online share trading accounts

According to the ASX, 51% of the adult population – 10.2 million Australians – currently hold investments other than the house they live in or their superannuation. That’s an increase of 13% since the last study conducted in 2020.

While the popularity of Australian shares has waned ever so slightly since 2020, from 60% down to 58% in 2023, Aussie shares remain the most popular on-exchange investment. 

Interest in ETFs has also seen a significant boost over the last three years, with 5% more Australian investors opting for the convenience and diversification this sort of asset can provide in a portfolio. 

Australians who invest directly in international shares have remained relatively stable over the three years since 2020, rising one per cent, to 16% of total investors in the country. 

Rise of crypto and strong interest in ETFs

This year, cryptocurrency made an appearance in the survey for the first time. 

The ASX reports that 15% of Australian investors now have a stake in digital coin. According to ASX research, this figure is likely to grow. A survey of those intending to enter the market found 29% of non-investors were interested in investing in crypto in the next 12 months. 

On the theme of firsts, newer investors were also surveyed by the ASX to uncover what their first ever investment was. Continuing the trend seen in 2020, most investors sought Australian shares for their first buy-in. However, that figure is 3% lower this year than in 2020, at 32%. 

Some first time investors also looked to ETFs (14%) and cryptocurrency (7%) as their first ever investment, with ETFs actually exceeding the popularity exhibited by first-timers in 2020 by 1%. 

According to the ASX, the lion’s share of Australian investors (70%) favour an online share trading platform, rather than a traditional full-service broker. 

The study also found that relatively newer tools of the trade, such as micro-investing apps (6%) and robo-advice tools (5%) were somewhat popular among first-time traders. 

The ASX says time will tell whether these newer forms of trading will take off in popularity, acknowledging that the next generation of investors (those aged 18-24) or those with limited capital may lead the charge. 

Choosing the right share trading platform

For now, online brokers and share trading platforms are the main avenue for a lot of Aussie investors, beating out full-service stockbrokers in both popularity and trust metrics, according to the ASX. 

There are a lot of platforms out there to choose from, but not all were created equal. Whether you’re a beginner share trader or have been investing for a while, finding an account that fits your needs and budget is an important part of investing.

At Mozo we aim to help you compare online share trading accounts at a glance, outlining brokerage and monthly fees, and providing detailed information about what each platform has to offer. 

Compare trading accounts below, or check out some of the best online share trading platforms in 2023, as decided in the Mozo Experts Choice Awards.

Share account comparisons on Mozo - rates updated daily

Search promoted share trading below. Advertiser disclosure.
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    Share Trading

    Small trade brokerage
    Monthly fee
    $3.00
    $0.00

    Invest in AU stocks, US stocks, HK stocks and ETFs on moomoo trading platform. US trades from $0.99 USD, other fees apply. Backed by a Nasdaq-listed fintech. (T&Cs apply).

    Details
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    Share Investing

    Standard

    Small trade brokerage
    Monthly fee
    $0.00
    $0.00

    CMC Markets Invest makes it easy to trade with a handy web and mobile platform, competitive pricing and thousands of securities. Buy Australian and US shares from $0 brokerage (T&Cs apply - see website for full details).

    Details
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    Mozo Experts Choice 2023
    Tiger Account

    Small trade brokerage
    Monthly fee
    $5.50
    $0.00

    Tiger Brokers is an online broker listed on NASDAQ. It offers access to US, ASX & HK stocks, ETFs and US options trading. Enjoy one brokerage-free trade per month on US and ASX stocks* with account opening. Mozo special offer for new users only: Get USD $25 in Tesla fractional shares plus USD $50 in fractional shares for new accounts with an accumulative net deposit of AUD 500*. T&Cs apply.

    Details
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    Share Trading

    Small trade brokerage
    Monthly fee
    $7.70
    $0.00

    Buy and sell with a low $7.70 flat fee per trade and access to all ASX Shares and ETFs to invest in with GO Markets. Enjoy dedicated local customer support, a regulated Australian company for trading ASX Shares and ETFs. Plus, enjoy $0 Brokerage on your next 15 trades! (T&Cs apply).

    Details
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    Idle Cash

    Small trade brokerage
    Monthly fee
    $5.50
    $0.00

    Receive interest on your uninvested cash. Deposit over USD/AUD 5,000 to start receiving 1.5% return; 2.25% return on over AUD 50,000; Up to 3.25% return on over USD 50,000. Mozo special offer for new users only: Get USD 50 fractional shares plus USD 25 Tesla shares with a cumulative net deposit of min. AUD 500 within 7 days of the first account opening. T&Cs apply.

    Details