It’s never been easier for regular Australians to enter the stock market and diversify their portfolios by trading everything from individual shares, securities and ETFs all on a laptop or smartphone.
Convenience is one thing, but it’s also about cost, because online share trading platforms are bringing brokerage fees to new lows. So it’s hardly surprising then that so many Aussies are flocking to trade online!
But how do you separate one platform from the next? Our expert judges have done the legwork for you, analysing 61 different share trading platforms from 23 different providers as part of the 2020 Mozo Experts Choice Awards for Online Share Trading.
Ready to get started? We’ve wrapped up some standout award-winners below.
Looking for a platform to start your stock market journey? The 2020 Mozo Experts Choice Award winning Classic tier from CMC Markets could be exactly what you’ve been looking for. Under the Classic tier, users will be able to make up to 10 trades each month for just $11 or 0.1% per trade (whichever is greater), while accessing Australian and international markets and making use of the platform’s additional insights and handy features.
When it comes to cost, it doesn’t get much lower than 2020 Mozo Experts Choice Award-winning SelfWealth Classic which charges brokerage of just $9.50 per trade and has no monthly fee! Cost aside, trades can be made through SelfWealth’s platform online or through the app where users can also utilise handy tools to do everything from checking their portfolio health to comparing their own portfolios to other high performers.
A back-to-back Mozo Experts Choice Award winner, the Active Investor tier from CMC Markets could be ideal for traders looking for a combination of cheap brokerage and comprehensive features. Brokerage costs just $9.90 or 0.08% per trade (whichever is greater) for 11-30 trades each month, plus users will have access to live market data and other reports. There is a $10 monthly fee, though it’s waived if you make between 11-30 trades a month or more than 5 trades and $500 in brokerage.
If you’re serious about trading you’ll want a platform with the features to match, and that’s exactly what the award-winning Premium Trader tier from CMC Markets provides. The Premium Trader tier offers everything from access to live or dynamic data, research reports and exclusive education opportunities. Plus, as you’d expect, brokerage comes in at just $9.90 or 0.075% per trade (whichever is higher) for 30+ trades a month. The $41.25 monthly fee is also waived if you make at least 30 trades each month.
IG’s Share Trading platform starts commission at just $8 or 0.1% (whichever is higher) for regular traders on Australian shares and as low as $0 on US and international shares, which could make it popular with traders wanting exposure to markets at home and abroad. Just watch out for the $16.67 monthly fee, though this will be waived if you trade at least three times per quarter. While it wasn’t a winner this year, the IG Share Trading platform was a 2019 Mozo Experts Choice Award^ recipient in the best Regular Trader category!
Want to compare even more Australian online share trading platforms? Head on over to the Mozo share trading comparison hub for the latest offers.
This is just a selection of our Mozo Experts Choice Award-winning Share Trading Platforms, so for the full list of recipients and a copy of the methodology report, check out our respective 2019 awards page^ and 2020 awards page* for more details.