ASX reveals Australia’s favourite investments, rise of online share trading platforms
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
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Share Trading
Small trade brokerage
Monthly fee
$3.00$0.00Trade more than 22,000 shares, ETFs and options across the Australian, US and Hong Kong markets on the moomoo Australia platform. And only pay from A$3 for local CHESS-sponsored trades and US$0.99 for all US trades. Other fees apply. Earn up to 6.8% p.a. introductory rate for 30 days, applicable to up to AU$80,000 on uninvested cash, and get 10 free stocks with eligible deposits (T&Cs apply)
Share Trading
Trade more than 22,000 shares, ETFs and options across the Australian, US and Hong Kong markets on the moomoo Australia platform. And only pay from A$3 for local CHESS-sponsored trades and US$0.99 for all US trades. Other fees apply. Earn up to 6.8% p.a. introductory rate for 30 days, applicable to up to AU$80,000 on uninvested cash, and get 10 free stocks with eligible deposits (T&Cs apply)
- Monthly fee
- $0.00
- Monthly fee waiver
- -
- Special offers
- Ongoing free access to real-time US market data.
- Brokerage details
- ASX trades are 0.03% the transaction amount, minimum $3.00 per order. US trades from $0.99 USD, other fees apply.
- Settle from any bank account
- Settlement account offered
- Customer funds held in segregated trust accounts with HSBC.
- CHESS ownership available
- Share pack
- Independent broker reports
- International markets
- Options
- Warrants
- IPOs
- Live data
- Market depth data
- Real time charting
- Other restrictions
- Additional regulatory pass-through fees apply for US trades. Options are available for US markets only.
Read reviews and learn more about the share account
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Share Investing
Standard
Small trade brokerage
Monthly fee
$0.00$0.00CMC 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).
Share Investing
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).
- Monthly fee
- $0.00
- Monthly fee waiver
- -
- Special offers
- -
- Brokerage details
- $0 for trades up to $1,000. Greater of $11 and 0.1% for trades over $1,000.
- Settle from any bank account
- Settlement account offered
- ANZ Cash Account
- CHESS ownership available
- Share pack
- Independent broker reports
- International markets
- Options
- Warrants
- IPOs
- Live data
- Market depth data
- Real time charting
- Other restrictions
- -
Read reviews and learn more about the share account
Share Trading
Small trade brokerage
Monthly fee
$7.70$0.00Buy 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).
Share Trading
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).
- Monthly fee
- $0.00
- Monthly fee waiver
- -
- Special offers
- -
- Brokerage details
- $7.70 brokerage for trades under $100,000, then 0.05%.
- Settle from any bank account
- Settlement account offered
- Macquarie Cash Management Account
- CHESS ownership available
- Share pack
- Independent broker reports
- International markets
- Options
- Warrants
- IPOs
- Live data
- Market depth data
- Real time charting
- Other restrictions
- -
Read reviews and learn more about the share account
Share Trading
Small trade brokerage
Monthly fee
-$0.005000+ stocks and 19 exchanges all on the eToro app. Invest in ETFs with $0 commission and stocks with just US$2 per trade. Join the world’s leading social trading platform, trusted by 30+ million users worldwide.
Share Trading
5000+ stocks and 19 exchanges all on the eToro app. Invest in ETFs with $0 commission and stocks with just US$2 per trade. Join the world’s leading social trading platform, trusted by 30+ million users worldwide.
- Monthly fee
- $0.00
- Monthly fee waiver
- -
- Special offers
- -
- Brokerage details
- $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
- Settle from any bank account
- Settlement account offered
- Customer funds are held in a Trust Account managed by JP Morgan Chase and Co
- CHESS ownership available
- Share pack
- Independent broker reports
- International markets
- Options
- Warrants
- IPOs
- Live data
- Market depth data
- Real time charting
- Other restrictions
- $5 USD withdrawal fee applies and a $10 monthly inactivity fee is charged after 12 months with no login activity.
Read reviews and learn more about the share account
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