Millennials and Gen Z are more financially savvy than their parents, says Global Prime

A study of 1,005 Australians commissioned by the online trader and conducted by research agency The Digital Edge found that 32% of millennials are better educated when it comes to finance.
Over half (52%) of the so-called ‘generation of spenders’ are more interested in trading and investing compared to previous generations.
“It’s encouraging to see so many Millennials and Gen Z taking an interest in investing and trading, and focusing on their long-term financial future,” says Global Prime’s director and co-founder Jeremy Kinstlinger.
Last year, a report by Commonwealth Bank also found similar results highlighting that the amount of millennials in the share trading space keeps growing.
Global Prime’s study also found that one of the driving factors for millennials to be more financially savvy and enter the world of share trading is due to the rising costs of living and housing unaffordability.
If you’re interested in share trading, below are some tips that might be worth reading.
Expert tips to know before entering the world of trading
Global Prime’s co-founder Kinstlinger and his business partner Elan Bension shared some tips to keep in mind when looking to start trading and investing:
- Be realistic about returns on capital
- Remember to understand risk management
- Ask your broker for trading receipts to make sure they aren’t profiting from your losses
- Be sure not to make impulsive trading or investing decisions
- Have a set plan and strategy in place to you can stay on track
- If possible, find a mentor to help you strategise your trading or investing plan.
Before you get started in your trading journey, be sure to do some reading on some of the best share trading platforms in Australia as named in our Mozo Experts Choice Awards. Or if you’re interested in comparing share trading accounts, check out our share trading account comparison table below.
Share account comparisons on Mozo - rates updated daily
Live Account
Small trade brokerage
Monthly fee
$5.00$0.00Superhero Live Account is trading for everybody. Zero brokerage when purchase ETFs and $5 when you sell, plus traders can get started with a minimum investment of just $100.
Live Account
Superhero Live Account is trading for everybody. Zero brokerage when purchase ETFs and $5 when you sell, plus traders can get started with a minimum investment of just $100.
- Monthly fee
- $0.00
- Monthly fee waiver
- -
- Special offers
- -
- Brokerage details
- Shares held in a consolidated HIN under Superheros name, ownership remains with share purchaser.
- Settle from any bank account
- Settlement account offered
- Superhero Wallet is a cash management account built into Superhero Account (held under NAB)
- Share pack
- Independent broker reports
- International markets
- Options
- CFDs
- Warrants
- IPOs
- Live data
- Market depth data
- Real time charting
Read our Mozo Review to learn more about the Live Account
Share Trading
Small trade brokerage
Monthly fee
$8.00$0.00ThinkMarkets offer an $8 flat fee share trading account with HIN ownership (CHESS sponsored) so you control your own shares plus free live price data and market depth.
Share Trading
ThinkMarkets offer an $8 flat fee share trading account with HIN ownership (CHESS sponsored) so you control your own shares plus free live price data and market depth.
- Monthly fee
- $0.00
- Monthly fee waiver
- -
- Special offers
- 10 free ASX trades when you open a new share trading account.
- Brokerage details
- $8 brokerage on trades up to $200,000, otherwise 0.05%
- Settle from any bank account
- Settlement account offered
- Option to link existing Macquarie Cash Management Account
- Share pack
- Independent broker reports
- International markets
- Options
- CFDs
- Warrants
- IPOs
- Live data
- Market depth data
- Real time charting
Read our Mozo Review to learn more about the Share Trading
Trading Account
Small trade brokerage
Monthly fee
$10.00$0.00Insights, recommendations and support for just $10 per trade under $1000. Get access to over 25 international markets. (See the CommSec page for details)
Trading Account
Insights, recommendations and support for just $10 per trade under $1000. Get access to over 25 international markets. (See the CommSec page for details)
- Monthly fee
- $0.00
- Monthly fee waiver
- -
- Special offers
- -
- Brokerage details
- Via CommSec Cash Account: $10.00 under $1,000, $19.95 between $1,001 and $10,000, $29.95 up to $25,000, then 0.12%. Via other account: $29.95 under $10,000, then 0.31%.
- Settle from any bank account
- Settlement account offered
- Commonwealth Direct Investment Account
- Share pack
- Independent broker reports
- (Aegis Research, $499 annually)
- International markets
- Options
- CFDs
- Warrants
- IPOs
- Live data
- Market depth data
- Real time charting
Read our Mozo Review to learn more about the Trading Account
Tiger Account
Small trade brokerage
Monthly fee
$6.49$0.00Tiger Brokers is an online broker listed on NASDAQ. It offers access to US, ASX & HK stocks, ETFs and US options trading. Enjoy $0 brokerage on US Stocks trading and ASX Stocks trading for 90 days with no minimum deposit required. (T&Cs apply - see website for full details. Limited time offer).
Tiger Account
Tiger Brokers is an online broker listed on NASDAQ. It offers access to US, ASX & HK stocks, ETFs and US options trading. Enjoy $0 brokerage on US Stocks trading and ASX Stocks trading for 90 days with no minimum deposit required. (T&Cs apply - see website for full details. Limited time offer).
- Monthly fee
- $0.00
- Monthly fee waiver
- -
- Special offers
- Receive a limited time offer of $0 brokerage on U.S. and ASX trades for 90 days for new accounts opened with a completed deposit or transfer shares. $10 Stock Voucher for new accounts.
- Brokerage details
- 0.05% of trade value, $2.50 minimum brokerage + $3.99 platform fee.
- Settle from any bank account
- Settlement account offered
- no
- Share pack
- Independent broker reports
- International markets
- Options
- CFDs
- Warrants
- IPOs
- Live data
- Market depth data
- Real time charting
Read our Mozo Review to learn more about the Tiger Account
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 Aussie and US shares from $0 brokerage (T&Cs apply - see website for full details).
Standard
CMC Markets Invest makes it easy to trade with a handy web and mobile platform, competitive pricing and thousands of securities. Buy Aussie 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
- CMC Markets Cash Account, no fees. Linked Suncorp or St George margin account
- Share pack
- Independent broker reports
- International markets
- Options
- CFDs
- Warrants
- IPOs
- Live data
- Market depth data
- Real time charting
Read our Mozo Review to learn more about the Standard
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