The best online share trading platforms in Australia 2022

meca-share-trading-2022

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 is essential. And for those who don’t know where to start, the Mozo Experts Choice Awards for Share Trading are here to help. 

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 options, some of which have picked up awards over 2021 to 2022 and others which the Mozo team believes are worth highlighting right now.

Top share trading platforms

Expert picks: Mozo Experts Choice Award-winning online share trading platforms

Mozo Experts Choice Awards 2022 badge

In 2022, our team of 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

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

With the Superhero Live Account, there's no monthly fee, a low flat-rate brokerage fee of just $5 on ASX listed shares, and zero brokerage on ETF purchases ($5 when you sell). New traders can also get started with a minimum investment of just $100. You can also 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).

Saxo Markets - Classic
  • No monthly fees
  • $5 brokerage fee for trades under $6,250
  • Minimum deposit of $1,000
Find out more

Taking home a 2022 Mozo Experts Choice Award^ in the Casual ASX trader category, the Saxo Markets Share Trading account offers users access to 40 exchanges where they can trade more than 19,000 stocks. The account charges no monthly fees and a flat $5 brokerage fee for trades under $6,250 (0.8% of trade value for larger trades). What’s more, Saxo Markets are currently offering referral bonuses of $100 or more when you refer a friend (T&Cs apply).

Tiger Brokers - Tiger Account
  • $0 brokerage on U.S. and ASX trades for 90 days (T&Cs apply)
  • Standard brokerage fee of 0.05% of the trade value ($2.50 minimum)

Tiger Brokers provides an online platform for investors who want to keep their brokerage costs to a minimum. The standard brokerage fee is set at 0.05% of the trade value ($2.50 minimum), plus there’s a $3.99 platform fee. But new users who open an account and either complete a deposit or transfer shares will receive $0 brokerage on US and ASX trades for 90 days (offer available for a limited time).

Best Casual ETF Trader Awards

CommSec Pocket
  • $2 per trade up to $1,000
  • Access to seven themed ETFs
  • $50 minimum deposit to begin trading
Find out more

Designed with beginners in mind, CommSec Pocket offers a simplified approach to share trading that could serve as a good entry point for budding investors. Unlike other share trading platforms, it offers a selection of just seven Exchange Traded Funds (ETFs) to invest in. These vary in theme, so you’ll be able to select one or a combination of several that interest you. Brokerage fees come in at just $2 on trades up to $1,000 and 0.20% on larger amounts.

Best Regular Trader Awards

CMC Markets - Standard
  • $11 brokerage fee on trades over $1,000
  • $0 brokerage on first buy order up to $1,000 (limited to one stock per trading day)
  • Easy access to 15 international markets

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)^.

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 ETF Trader
  • Interactive Brokers: Casual ASX Trader, Casual US Trader
  • Pearler: Casual ETF Trader
  • Revolut: Casual US Trader
  • Stake: Casual ASX Trader, Casual ETF Trader
  • Westpac: Exceptional Share Trading App

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.

Customer favourites: Best online share trading platforms from 2022 Mozo People's Choice Award winners

Mozo People's Choice Award 2021 badge

We have also highlighted some winners from the 2022 Mozo People’s Choice Awards^, a national survey that asks Aussies which financial service providers they love most. This year, we sought the opinions of nearly 4,000 everyday Australians about their preferred share trading platform. We saw Aussies claim which was their favourite platform and below we’ve called out a few.

nabtrade
  • Live data option
  • Access to international markets (US, UK, Hong Kong and Germany)
  • $14.95 brokerage on trades up to $5,000
Find out more

The nabtrade share trading platform has proven to be a popular option among Aussies, taking out wins in the Outstanding Customer Satisfaction, Value for Money and Most Recommended categories in the 2021 Mozo People’s Choice Awards^. Users will pay $14.95 in brokerage on trades up to $5,000, $19.95 on trades between $5,000.01 and $20,000, and 0.11% on trades over $20,000. Domestic and international trading accounts are available, so you’ll get access to US, UK, Hong Kong and German markets along with Australian ones.

Classic
  • Flat $9.50 brokerage fee on all trades
  • No monthly fees
  • Access to Australian and US markets
Find out more

The Selfwealth share trading platform was a popular choice among many Aussies, and it's why it won in the Value for Money category in the 2022 Mozo People’s Choice Awards^. You’ll only pay a competitive flat $9.50 brokerage fee regardless of the trade size. It also comes with no monthly fees. Not only that, if you're stuck on what your next trading move should be, a Selfwealth Share Trading account gives you the chance to follow other investors and compare your investment portfolios against theirs.

Mozo Editor's Pick

Editor’s picks of the month: online share trading platforms on Mozo in June

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.

ThinkMarkets - Share Trading
  • $8 brokerage for trades up to $200,000
  • No account opening or subscription fees
  • Live streamed price data available as an optional feature for $22 per month

There’s a lot that users will appreciate about the ThinkMarkets share trading platform, including its low brokerage costs and suite of analytics tools. Users are charged $8 brokerage on trades up to $200,000 and 0.05% on trades above $200,000, and you’ll be able to trade 3,100 Australian-listed shares on the ASX and Chi-X, all from the easy to use app.

IG - Share Trading
  • $0 brokerage on US and UK shares
  • $8 or 0.1% brokerage on Australian shares
  • $5 or 0.05% if you made 3+ trades in the previous month

One of the biggest names in the industry, IG offers traders competitive brokerage rates and access to more than 17,000 markets. You’ll be able to buy US and UK shares with no commission, and Aussie shares will cost you just $8 or 0.1% per trade, whichever is higher. Active traders could also be rewarded with cheaper commission: if you've made at least three trades in the previous month, commission on domestic shares goes down to just $5 or 0.05%, whichever is higher. Just keep in mind that there is a $50 quarterly fee (this can be waived if you’ve traded three or more times in the previous quarter with your share trading account).

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.

Can I invest in international shares?

Yes, 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.

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.

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.

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.

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.