Top share trading platforms for beginners in 2022

Person looking at share trading app on phone.

A new generation of investors has flocked to the share market over the past few years, looking for a home for their savings that isn’t producing negligible returns. But while share trading can be a good (albeit risky) way to build your wealth, it’s not always easy to take the first step.

To help, we’ve compiled a list of share trading platforms that are exceptional in their own right, but also offer features and insights that beginners might appreciate. 

That means low brokerage fees, easy-to-navigate apps, and plenty of tools and resources to make your foray into share trading as smooth as possible. As always, there are risks involved in share trading, so make sure you do your research before diving in.

Superhero
  • $0 brokerage when you buy ETFs ($5 when you sell)
  • Flat $5 brokerage on ASX listed shares
  • $100 minimum investment

The biggest drawcard of Superhero is the low fee structure. You won’t be charged any brokerage fees when buying ETFs and all other trades cost just $5. This could appeal for investors who are more interested in the broad exposure provided by ETFs than individual stocks. 

You’ll also have the chance to earn 100 Qantas Points per trade on full $5 brokerage trades as well as 1 Qantas Point per US $5 transferred from AUD to USD (T&Cs apply).

However, it bears mentioning that Superhero is only able to offer such cheap brokerage by bundling members under a single Holder Identification Number (HIN). This means investors have fewer protections* than if they were issued a HIN individually, as is typical of other brokers, so make sure you read the PDS carefully before signing up.

Tiger Brokers
  • $0 brokerage on U.S. and ASX trades for first 3 months (T&Cs apply)
  • Standard brokerage fee of 0.05% of the trade value ($2.50 minimum)

Low brokerage costs and access to Aussie, US and Hong Kong stocks and ETFs are the name of the game with Tiger Brokers. For the first three months you’ll pay $0 brokerage on U.S. and ASX trades (T&Cs apply), and 0.05% of the trade value ($2.50 minimum) thereafter. Just keep in mind that there’s also a $3.99 platform fee and a 0.03% settlement fee, both charged per order.

CommSec
  • Access to 25 international share markets
  • Comprehensive reports and insights
  • Live data

Offering live data, helpful reports and access to the ASX as well as 25 other leading international markets, the CommSec Share Trading Account could be a good fit for Aussies looking to kick-start their investing journey with the help of a major bank. When trading using a Commonwealth Direct Investment Account, brokerage comes in at $10 per trade under $1,000, $19.95 for trades between $1,001-$10,000, $29.95 for trades between $10,000-$25,000 and 0.12% for trades over $25,000.

SelfWealth
  • Flat $9.50 brokerage fee
  • No monthly fees
  • CHESS-sponsored
Find out more

SelfWealth’s friendly design and useful diagnostic tools could make it a good choice for new investors. It’s also one of the cheaper options among share trading platforms we track, charging a flat $9.50 brokerage fee on trades regardless of size.

There are a number of features to help you get off on the right foot, such as the SafetyRating (which examines your holdings and indicates how diversified they are) and the WealthCheck feature (which compares your portfolio against other members and grades it based on health and performance).

SelfWealth also allows US trading, giving users access to over 7,500 US stocks. Transferring money between your SelfWealth AUD cash account and your USD cash account is fairly simple, and you’ll be charged a competitive 0.60% FX spread.

ThinkMarkets
  • Flat $8 brokerage on trades up to $200,000
  • 24 hour support
  • Suite of analytics tools

The ThinkMarkets share trading app, known as ThinkTrader, gives you access to Australian-listed shares and ETFs on the ASX and Chi-X. Brokerage is set at just $8 per trade on amounts up to $200,000 and 0.05% on larger amounts. 

It also comes with a number of useful features to help you take advantage of trading opportunities as they arise, such as free live click-to-refresh prices and cloud-based alerts and triggers. And beginner investors will appreciate the trove of online resources, including reports and live webinars, aimed at sharpening their investing skills.

For a look at more top share trading platforms, browse the list of winners in this year’s Mozo Experts Choice Online Share Trading Awards.

*Investors who have not been issued an individual HIN do not have direct ownership of their shares, and are not protected under the ASX administered National Guarantee Fund (NGF) if the broker faces bankruptcy. Please review the PDS carefully before making any decisions.

Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.

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