By Jack Dona · · 6 min read
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Share trading has exploded in popularity in recent years, particularly among younger Australians who are looking for ways to grow their wealth beyond the conventional means.
Whether you’re just learning the ropes or are a seasoned pro, having access to a quality trading platform, or even a share trading app for mobile, is essential. And for those who don’t know where to start, the Mozo Experts Choice Awards for Share Trading are here to help you find the best share trading platform for you.
When it comes down to it, there are lots of ways to define which share trading platforms are the best and ultimately the answer will depend on what you value as an investor.
But we hope to make your search easier by including information on a range of share trading platform options, some of which have picked up awards.
Featured share trading platforms
- Tiger Brokers - Tiger Account
- Superhero - Live Account
- CMC Markets - Standard
- moomoo share trading account
- GO Markets share trading account
- eToro ASX Shares
- Selfwealth Classic share account
- nabtrade
Expert picks: Mozo Experts Choice Award-winning online share trading platforms
In 2023, Mozo data analysts put in the hard yards by examining 68 online share trading platforms from 31 providers to find the best options currently available in Australia.
Products were assessed on features and overall value, with the top 10% of products in each category picking up awards.
Below, we’ve highlighted some of the winners across different award categories. To learn more about how they were determined, browse the Mozo Experts Choice Awards^ methodology report.
Best Casual ASX Trader Awards
Tiger Brokers - Tiger Account
- Enjoy one brokerage-free trade per month on US and ASX stocks* with account opening. T&Cs apply.
- Standard brokerage fee of 0.055% of the trade value or Min. AUD 5.5/Order
- Get USD $25 in Tesla fractional shares plus USD $50 in fractional shares for new accounts with an accumulative net deposit of AUD 500*. T&Cs apply.
- Multiple 2023 Mozo Experts Choice Awards^ winner
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Tiger Brokers provides an online platform for investors who want to keep their brokerage costs to a minimum. The Standard brokerage fee of 0.055% of the trade value or Min. AUD 5.5/Orderfor ASX stocks and ETFs. But new users who open an account and either complete a deposit or transfer shares will receive one brokerage-free trade per month on US and ASX stocks* (offer available for a limited time, T&Cs apply) and be issued a HIN number.Get USD $25 in Tesla fractional shares plus USD $50 in fractional shares for new accounts with an accumulative net deposit of AUD 500*. T&Cs apply.
The Tiger Account is a multiple Mozo Experts Choice Award winner in 2023, with wins in the Casual ASX Trader category and Casual US Trader category.
Superhero - Live Account
- Flat $5 brokerage on ASX listed shares
- $0 brokerage when you purchase ETFs ($5 when you sell)
- $100 AUD minimum investment
- Multiple 2023 Mozo Experts Choice Awards^ winner
Go to site
Regardless of the type of Superhero account they sign up to, users will be able to buy and sell ASX listed shares for a brokerage fee of $5, as well as buy ETFs with $0 brokerage and sell them with $5 brokerage - some of the lowest prices currently available. Users can also trade US shares and ETFs with zero brokerage, though a 0.70% foreign exchange fee applies for transfers between AUD and US dollars. New traders can also get started with a minimum investment of just $100 AUD when trading Aussie shares, or $10 USD for US shares.
Superhero won two Mozo Experts Choice Awards^ in 2023, including one for Best Casual ASX Trader and another for Best Casual ETF Trader.
Best Regular Trader Awards
CMC Markets - Standard
- $11 or 0.10% brokerage fee on trades over $1,000 (whichever is higher)
- $0 brokerage on first buy order up to $1,000 (limited to one stock per trading day)
- Easy access to 15 international markets
- Multiple 2023 Mozo Experts Choice Awards^ winner
- Mozo Share Trading Platform of the Year (Pro)^
Go to site
CMC Markets offers a comprehensive service that will appeal to beginner and more experienced traders alike. You’ll be charged $11 or 0.10% on trades (whichever is higher), and $0 on your first buy order each day up to $1,000 (this is limited to one stock per day). CMC Markets picked up awards in both the Regular and Active Trader categories and was also named our Share Trading Platform of the Year (Pro)^ for the second year running.
Other standout online share trading platform winners
The providers listed above weren’t the only ones to win big in this year’s Mozo Experts Choice Awards^. Some other major winners include:
- Bank of Queensland: Regular Trader
- EasyEquities: Casual ASX Trader, Casual ETF Trader
- Interactive Brokers: Casual ASX Trader, Casual US Trader
- Pearler: Casual ASX Trader, Casual ETF Trader
- Saxo Markets - Classic:Casual ASX Trader, Casual ETF Trader
- Stake: Share Trading Platform of the Year (Casual), Casual ASX Trader, Casual ETF Trader
- Westpac: Exceptional Share Trading App
- CommSec Pocket:Casual ASX Trader, Casual ETF Trader
- Syfe: Casual US Trader
- Sharesies: Casual ASX Trader
For the full list of this year's winners and to find out more about how the best online share trading platforms were selected, browse the Mozo Experts Choice Online Share Trading Awards^ methodology report.
Below is a selection of some of the top deals available right now from our partners as selected by our editors. These are options that we think are worth highlighting for people wanting a great platform to buy shares and ETFs. You can also visit our share trading hub for more detailed product reviews and guides.
Customer favourites: Best online share trading platforms from 2023 Mozo People's Choice Award winners
But we didn’t just ask Mozo’s experts about the best share trading accounts in Australia – we also conducted a national survey of 772 share traders to uncover the winners of the 2023 Mozo People’s Choice Awards^, showcasing which share trading platforms real customers loved.
These awards recognise the share trading platforms with the highest levels of customer satisfaction, best service, and a range of other qualities.
nabtrade
- Multiple 2023 Mozo People’s Choice Awards winner
- $9.95 brokerage fee on trades below $1,000
- Access to international markets (US, UK, Hong Kong and Germany)
- Live data option available (Silver level accounts or above)
Find out more
Nabtrade, from NAB, is the overall winner for Outstanding Customer Satisfaction in this year’s People’s Choice Awards, winning a total of five accolades across the share trading categories.
Small trade brokerage (under $1,000) starts at $9.95 for shares, ETFs, warrants, and mFunds, but fees climb higher depending on the value of your trade. Large trade brokerage, for trades over $20,000, attracts a 0.11% commission.
2023 Mozo People’s Choice Awards wins: Outstanding Customer Satisfaction, Easy to Use, Settlement Speed, Excellent Customer Service, and Most Recommended.
Other 2023 Mozo People’s Choice Award winners
The winners of the People’s Choice Awards in 2023 also included:
- CommSec: Research Tools and Easy to Use categories
- CMC Markets: Research Tools category.
Read the 2023 Mozo People’s Choice Awards^ methodology report for more details about the survey and a full list of winners across the categories.
What's the best way to start share trading?
Before you start, it pays to understand how share trading works. Read our guide to share trading for beginners, or browse some of the resources on theASX website. It’s also a good idea to brush up on how interest rates, exchange rates and government policy can affect the share market.
Once you’re confident in your knowledge, you can open an account with a share trading platform and start placing orders. The size of each order will be up to you, but most brokers will require your first trade to be at least $500 (this is known as the 'minimum marketable parcel of shares').
Keep in mind that each transaction will incur a brokerage fee, and if you buy only a small amount the fee will make up a larger percentage of your total investment. That means you might be waiting longer for your returns to even cover the cost of purchasing the asset.
Is share trading risky?
Yes, share trading can be risky. The value of your shares can rise and fall over time, meaning there’s always a chance you could get back less money than you originally put in. And if you invest in a single company and it goes bankrupt, you could lose all of your initial outlay.
While there’s no way to completely eliminate the risk involved in share trading, there are ways to minimise it. For example, it’s recommended that you diversify your portfolio by spreading funds across a range of industries and asset classes, instead of honing in on just one or two.
As always, it pays to do plenty of research - on any particular asset you might be thinking of buying and on share trading in general - so that you have a clear idea of the risks involved.
What's the best way I can invest in international shares?
Many share trading platforms offer access to share markets in the USA, with some providing access to markets elsewhere in the world. Exchange rates on currencies will usually be built into the price for any trades within these apps.
How do I know my shares are secure?
If your brokerage platform is CHESS sponsored, you will be issued a Holder Identification Number (HIN) when you sign up. This is a tag that is unique to you, and any shares you buy will be attached to it.
This is much more preferable than a custodian model, where the shares you buy are held on your behalf under an “omnibus” HIN. While brokers that rely on a custodian model tend to be cheaper, there are tradeoffs. For one, you won’t technically own your shares, which unfortunately means you’ll be granted fewer protections.
Other measures you can take to ensure your shares stay in your possession include using two-factor authentication (if the platform you use offers it), which adds an additional layer of security to your portfolio.
What is an Exchange Traded Fund (ETF)?
An exchange-traded fund (ETF) is a managed fund that tracks a particular index, sector or commodity. ETFs can be thought of as a bundle of shares or assets, and are appreciated by investors for the diversification they offer along with their relatively low management fees. Like shares, ETFs can be bought or sold on a stock exchange.
What is dollar cost averaging?
An alternative to trying to predict future market price movements, dollar cost averaging involves regularly investing the same amount of money in an asset, regardless of price, over an extended period of time.
The idea is that by buying when the market is both up and down, you can reduce the average cost of shares bought.
How so? Since the amount of shares you can buy with a fixed sum of money is lower when the price is high, dollar cost averaging lets you buy more shares when they’re cheap and fewer shares when they’re expensive.
Are these share trading platforms best for me?
We have highlighted some of our editor’s picks and products which have earned our seal of approval through the Mozo Experts Choice Awards^. Ultimately, you will need to consider your priorities as an investor to identify which options are best for you. Be sure to read the information provided on a product issuer’s website before making a decision.
Is share trading ethical?
When you invest, you'll have to decide for yourself if what you're investing in (in other words, supporting financially) aligns with your ethics.
For example, choosing to buy shares in a fossil-fuel mining company may be unethical to you if you're concerned about climate change and the impact such companies have on the environment.
Luckily, there are still ways to invest in ethically-minded companies and industries.One such way is by looking into ESG funds, which are all about getting you maximum returns and maximum ethical impact.
There are also plenty of ETFs out there which claim to invest with an ethical frame of mind.
How to make money buying and selling shares?
If you want to make money from buying and selling your stocks, then the basic principal is to 'buy low, sell high'.
In other words, you want to aim to sell your positions when the price is higher than what you bought them for.
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.
While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.
As an enthusiast and expert in the field of share trading, I've closely followed the trends and developments in the industry, keeping myself updated with the latest information. My depth of knowledge in share trading platforms, market analysis, and investment strategies allows me to provide valuable insights and recommendations to both beginners and seasoned investors.
Now, let's delve into the concepts used in the article you provided:
-
Mozo Experts Choice Awards:
- The Mozo Experts Choice Awards are a recognition of excellence in the field of online share trading platforms in Australia.
- The awards are based on a rigorous assessment of 68 online share trading platforms from 31 providers in 2023.
- The evaluation criteria include features, overall value, and other factors, with the top 10% of products in each category receiving awards.
-
Share Trading Platforms:
- Tiger Brokers - Tiger Account: Recognized for its brokerage cost efficiency, offering one brokerage-free trade per month on US and ASX stocks for new users. It won Mozo Experts Choice Awards in the Casual ASX Trader and Casual US Trader categories.
- Superhero - Live Account: Stands out with a flat $5 brokerage on ASX listed shares and $0 brokerage for ETF purchases. Awarded as the Best Casual ASX Trader and Best Casual ETF Trader in 2023.
- CMC Markets - Standard: Offers a comprehensive service with a $11 or 0.10% brokerage fee on trades over $1,000. Awarded in the Regular and Active Trader categories, also named Mozo Share Trading Platform of the Year (Pro).
-
Other Major Winners:
- Bank of Queensland, EasyEquities, Interactive Brokers, Pearler, Saxo Markets, Stake, Westpac, CommSec Pocket, Syfe, and Sharesies were also recognized in various categories by Mozo Experts Choice Awards.
-
Mozo People’s Choice Awards:
- An additional layer of recognition based on customer satisfaction, service, and other qualities.
- nabtrade received multiple 2023 Mozo People’s Choice Awards for Outstanding Customer Satisfaction, Easy to Use, Settlement Speed, Excellent Customer Service, and Most Recommended.
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Share Trading Tips and Information:
- Guidance on starting share trading, understanding market dynamics, and considerations such as interest rates, exchange rates, and government policies.
- Risks associated with share trading, including market volatility and potential loss of invested capital.
- Information on investing in international shares through trading platforms.
- Security measures, including the importance of a CHESS sponsored platform and two-factor authentication.
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Investment Strategies:
- Dollar cost averaging as an investment strategy to mitigate market volatility.
- Ethical considerations in share trading, including investing in ESG funds and ethical ETFs.
- Basic principles of making money through buying low and selling high in the stock market.
In conclusion, the article covers a wide range of topics related to share trading, including platform recommendations, awards recognition, customer satisfaction, security measures, and investment strategies. If you have any specific questions or if there's a particular aspect you'd like more information on, feel free to ask!
