Invest your way to the stars with these top trading platforms
Record low interest rates and the COVID pandemic have sparked a shift - an investment shift. Young Aussies across the country have been reassessing their investment strategies, with share trading and other forms of investing emerging as some of the hottest ways for many to grow their wealth.
Australians well and truly sought to make the most of fluctuating markets during the COVID period, with 435,000 traders* entering the market for the first time in the 12 months to March 2021 - one in six of which were under 25!
With low brokerage costs and easy access, online share trading platforms have proved popular destinations for these young investors looking to trade everything from Australian and international shares to ETFs.
While investors with more adventurous appetites have turned to online platforms like eToro to jump on the resurgence of cryptocurrency and other trading opportunities like CFDs.
Is it about time you started on your own investing journey? We’ve wrapped up some of the popular online investing platforms used by Australians below.
Social trading platforms
Trading Platform
- Mirror other traders’ portfolios with ‘CopyTrader’ feature
- Trade US stocks, CFDs and cryptocurrency
- $0 brokerage on US stocks
A self-described ‘social trading’ platform, eToro offers budding traders a platform with which to invest online... with a twist! That’s because eToro’s CopyTrader feature allows investors to easily copy and track the portfolios of high performing investors. Speaking of investing, eToro offers Australians the chance to trade US stocks (brokerage-free), as well as CFDs (Contract for Difference) and a range of cryptocurrencies. ASX-listed shares and ETFs can’t currently be traded though.
Share trading platforms
Trading Account
- 2021 Mozo Experts Choice Award^
- Live market data
- Access to 25+ international markets
CommSec is one of the most familiar names in the world of Australian investing. Its online Share Trading account can be used by investors to trade a number of securities including Australian and international shares (from 25+ exchanges), ETFs and more, with brokerage starting from $10 per trade. Users also have access to handy features like live data, trading tools and news, plus the Commsec App took out a 2021 Mozo Experts Choice Award for Exceptional Share Trading App - the third year in a row it’s received the award.
Classic
- 2021 Mozo Experts Choice Award^ winner
- Flat $9.50 brokerage
- Trade Australian and US shares
Self Wealth’s Classic online share trading account provides a competitively priced, straightforward way for Aussies to start investing. Users can buy and sell Australian shares and ETFs for a flat brokerage fee of $9.50 AUD (irrespective of the trade size) and US shares for $9.50 USD per trade, while managing their portfolio using Self Wealth’s online portal or mobile app. Self Wealth even picked up a 2021 Mozo Experts Choice Award in the Casual ASX Trader category.
Interested in comparing even more online share trading platforms? Head on over to our Mozo share trading comparison hub for the latest offers.
^Check out our dedicated 2021 Mozo Experts Choice Awards for Online Share Trading landing page for the full winners list, the various award categories and a copy of the methodology report.
*Figures courtesy of Investment Trends’ 2020 2H Australia Online Investing Report.
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