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
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 share accounts
Share Trading
Small trade brokerage
Monthly fee
-$0.006000+ stocks and 20 exchanges, all on the eToro app. Invest in ETFs and stocks with just US$2 per trade. Join the world’s leading social trading platform, trusted by 35+ million users worldwide. Small trade brokerage conditions: $2 USD brokerage fee for stock trades, 1.5% FX fee applies.
Share Trading
6000+ stocks and 20 exchanges, all on the eToro app. Invest in ETFs and stocks with just US$2 per trade. Join the world’s leading social trading platform, trusted by 35+ million users worldwide. Small trade brokerage conditions: $2 USD brokerage fee for stock trades, 1.5% FX fee applies.
- Monthly fee
- $0.00
- Monthly fee waiver
- -
- Special offers
- -
- Brokerage details
- $2 USD brokerage fee for stock trades, 1.5% 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 share accounts
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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.
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.
- Monthly fee
- $0.00
- Monthly fee waiver
- -
- Special offers
- Ongoing free access to real-time US market data. $0 brokerage fee for 30 days + 12 free stocks.
- 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 share accounts
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Tiger Account
Small trade brokerage
Monthly fee
$3.00$0.00Mozo special offer for new users only: Get 4x zero brokerage trades (brokerage fees waived up to 2 USD per trade for US stocks, up to 3 AUD per trade for AUS stocks, and up to 3 USD per trade for US options) and zero FX fees for exchanging up to AUD 2,000 every month between AUD⇆USD with the first deposit of any amount. Other fees may apply. Plus AUD 40 cash vouchers with an accumulated net deposit of at least AUD 2,000 within 7 days of the first deposit. Trading conditions and withdrawal restrictions apply to the withdrawal of the AUD 40 cash – for full details, go to the Tiger Brokers website.
Tiger Account
Mozo special offer for new users only: Get 4x zero brokerage trades (brokerage fees waived up to 2 USD per trade for US stocks, up to 3 AUD per trade for AUS stocks, and up to 3 USD per trade for US options) and zero FX fees for exchanging up to AUD 2,000 every month between AUD⇆USD with the first deposit of any amount. Other fees may apply. Plus AUD 40 cash vouchers with an accumulated net deposit of at least AUD 2,000 within 7 days of the first deposit. Trading conditions and withdrawal restrictions apply to the withdrawal of the AUD 40 cash – for full details, go to the Tiger Brokers website.
- Monthly fee
- $0.00
- Monthly fee waiver
- -
- Special offers
- New accounts get 4 zero brokerage trades (up to 2 USD for US stock trades, up to 3 AUD for AUS stock trades) and no FX fee on exchanges between USD and AUD up to AUD 2,000 every month. T&Cs apply – for full details, go to the Tiger Brokers website.
- Brokerage details
- 0.03% of trade value, $3.00 minimum brokerage.
- Settle from any bank account
- Settlement account offered
- no
- 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 share accounts
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Share Trading Account
Small trade brokerage
Monthly fee
$2.00$0.00Superhero Trading allows you to invest in over 9,000 ASX and Wall Street shares and ETFs with brokerage from just $2 a trade. Sign up with code ‘mozo25’ and get US$10 of Nvidia stock when you fund your account with $100 or more within 30 days. T&Cs apply. 1Awarded-Winner: Best for Mobile Experience in the WeMoney Investment Awards 2023
Share Trading Account
Superhero Trading allows you to invest in over 9,000 ASX and Wall Street shares and ETFs with brokerage from just $2 a trade. Sign up with code ‘mozo25’ and get US$10 of Nvidia stock when you fund your account with $100 or more within 30 days. T&Cs apply. 1Awarded-Winner: Best for Mobile Experience in the WeMoney Investment Awards 2023
- Monthly fee
- $0.00
- Monthly fee waiver
- -
- Special offers
- -
- Brokerage details
- -
- Settle from any bank account
- Settlement account offered
- Superhero Wallet is a cash management account built into Superhero Account (held under NAB)
- CHESS ownership available
- Share pack
- Independent broker reports
- International markets
- Options
- Warrants
- IPOs
- Live data
- Market depth data
- Real time charting
- Other restrictions
- Additional fees may apply for sell US trades. US shares transfer fee 65bps applies.
Read reviews and learn more about share accounts
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