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

woman in a mustard sweater thinking about share trading

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

Search promoted share trading below. Advertiser disclosure.
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    Live Account

    Small trade brokerage
    Monthly fee
    $5.00
    $0.00

    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.

    Details
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    Share Trading

    Small trade brokerage
    Monthly fee
    $8.00
    $0.00

    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.

    Details
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    Trading Account

    Small trade brokerage
    Monthly fee
    $10.00
    $0.00

    Insights, recommendations and support for just $10 per trade under $1000. Get access to over 25 international markets. (See the CommSec page for details)

    Details
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    Mozo Experts Choice 2022
    Tiger Account

    Small trade brokerage
    Monthly fee
    $6.49
    $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 $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).

    Details
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    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 Aussie and US shares from $0 brokerage (T&Cs apply - see website for full details).

    Details

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