Share Trading Accounts Compared

If there's one smart deal you’ll want to lock in, it's finding a great online share trading platform for your investing needs. Whether you’re new to investing or a seasoned trader on the stock market, everything from brokerage, monthly fees, stock reports and analytics are essential to consider. That’s why our handy table below lets you compare those features and more side-by-side so you can find the online share trading platform that’s right for you. 

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Share account comparisons on Mozo - page last updated November 26, 2020

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  • Classic

    $11.00

    $0.00

    CMC Markets offer a powerful web and mobile platforms & competitive pricing on thousands of instruments. Winner of a Mozo Experts Choice Award 2020 in the Casual Trader category^.

    • less than 10 trades

    • Greater of $11 and 0.1% for up to 10 trades per month. Greater of $9.90 and 0.08% up to 30 trades per month, and greater of $9.90 and 0.075% for more than 30 trades.

    • CMC Markets Cash Account, no fees. Linked Suncorp or St George margin account

    Read our Mozo Review to learn more about the Classic

    Details Close

  • Classic

    $9.50

    $0.00

    Self Wealth Classic has no hidden fees and Access live prices and market depth, currently free to all members. $9.50 flat brokerage fee. Winner of a Mozo Experts Choice Award 2020 in the Casual Trader category^.

    • Flat brokerage fee of $9.50 regardless of trade size

    • ANZ Cash Investment Account

    Read our Mozo Review to learn more about the Classic

    Details Close

  • Share Trading

    $8.00

    $16.67

    IG is part of a major FTSE 250 company with over 185,000 clients worldwide. Commission from just $5 for customers making 3+ trades per month.

    • Trade 3 times per quarter using either your share trading or CFD account. Hold no open positions in your share trading account at the end of the quarter

    • $0 to US$10 commission on international shares.

    • $8 or 0.1% of trade value ($5 or 0.05% with at least 3 trades in the previous month), whichever is greater. Phone rate $50 or 0.1%. 0.7% Foreign exchange margin.

    • no

    Read our Mozo Review to learn more about the Share Trading

    Details Close

  • Classic

    $6.99

    $0.00

    Fast and reliable access to the markets from your phone, tablet, laptop or multi-screen desktop set-up.

    • Earn up to $150 for referring a friend. To receive referral your friend must meet the minimum funding requirement $3,000, place three trades and have their account funded at time of payment.

    • $6.99 up to $6,990, then 0.1%

    • Saxo Trading Account

    Read our Mozo Review to learn more about the Classic

    Details Close

  • Active Investor

    $9.90

    $10.00

    CMC Markets offer a powerful web and mobile platforms & competitive pricing on thousands of instruments. Winner of a Mozo Experts Choice Award 2020 in the Regular Trader category^.

    • More than 11 less than 30 trades per month or more than 5 trades and $500 in brokerage

    • Greater of $9.90 and 0.1% for up to 10 trades per month. Greater of $9.90 and 0.08% up to 30 trades per month, and greater of $9.90 and 0.075% for more than 30 trades.

    • CMC Markets Cash Account, no fees. Linked Suncorp or St George margin account

    Read our Mozo Review to learn more about the Active Investor

    Details Close

  • Platinum

    $6.99

    $0.00

    Hold ASX securities in your own name with our CHESS-sponsored offering, and access 19,000+ international shares across core and emerging markets.

    • Earn up to $300 for referring a friend. To receive referral your friend must meet the minimum funding requirement $300,000, place three trades and have their account funded at time of payment.

    • $6.99 up to $9,986, then 0.07%

    • Saxo Trading Account

    Read our Mozo Review to learn more about the Platinum

    Details Close

  • Premium Trader

    $9.90

    $41.25

    CMC Markets offer a powerful web and mobile platforms & competitive pricing on thousands of instruments.

    • More than 30 trades per month

    • Greater of $9.90 and 0.075% for all trades.

    • CMC Markets Cash Account, no fees. Linked Suncorp or St George margin account

    • dynamic

    Read our Mozo Review to learn more about the Premium Trader

    Details Close

  • VIP

    $6.99

    $0.00

    Professional support whenever markets are open, including technical assistance, market analysis and access to personal sales traders.

    • Earn up to $600 for referring a friend. To receive referral your friend must meet the minimum funding requirement $1,500,000, place three trades and have their account funded at time of payment.

    • $6.99 up to $13,980, then 0.05%

    • Saxo Trading Account

    Read our Mozo Review to learn more about the VIP

    Details Close

  • CommSecIRESS

    $10.00

    $82.50

    Make better informed investment decisions with CommSec’s cutting edge research platform. Winner of a Mozo Experts Choice Award 2020 in the Active Trader category^.

    • 8 trades or $220 in brokerage per month

    • Via CommSec Cash Account: $10.00 under $1,000, $19.95 between $1,001 and $10,000, $29.95 up to $25,000, then 0.12%. Via other account: $29.95 under $10,000, then 0.31%.

    • Commonwealth Direct Investment Account

    • (Aegis Research, $499 annually)

    • dynamic

    Read our Mozo Review to learn more about the CommSecIRESS

    Details Close

  • Trading Account

    $10.00

    $0.00

    Insights, recommendations and support for just $10 per trade under $1000. Get access to over 25 international markets. (See the CommSec page for details)

    • Via CommSec Cash Account: $10.00 under $1,000, $19.95 between $1,001 and $10,000, $29.95 up to $25,000, then 0.12%. Via other account: $29.95 under $10,000, then 0.31%.

    • Commonwealth Direct Investment Account

    • (Aegis Research, $499 annually)

    Read our Mozo Review to learn more about the Trading Account

    Details Close

  • Active Investor

    0.075%

    $10.00

    CMC Markets offer a powerful web and mobile platforms & competitive pricing on thousands of instruments. Winner of a Mozo Experts Choice Award 2020 in the Regular Trader category^.

    • More than 11 less than 30 trades per month or more than 5 trades and $500 in brokerage

    • Greater of $9.90 and 0.1% for up to 10 trades per month. Greater of $9.90 and 0.08% up to 30 trades per month, and greater of $9.90 and 0.075% for more than 30 trades.

    • CMC Markets Cash Account, no fees. Linked Suncorp or St George margin account

    Read our Mozo Review to learn more about the Active Investor

    Details Close

  • Share Trading

    0.1%

    $16.67

    IG is part of a major FTSE 250 company with over 185,000 clients worldwide. Commission from just $5 for customers making 3+ trades per month.

    • Trade 3 times per quarter using either your share trading or CFD account. Hold no open positions in your share trading account at the end of the quarter

    • $0 to US$10 commission on international shares.

    • $8 or 0.1% of trade value ($5 or 0.05% with at least 3 trades in the previous month), whichever is greater. Phone rate $50 or 0.1%. 0.7% Foreign exchange margin.

    • no

    Read our Mozo Review to learn more about the Share Trading

    Details Close

  • Classic

    0.0%

    $0.00

    Self Wealth Classic has no hidden fees and Access live prices and market depth, currently free to all members. $9.50 flat brokerage fee. Winner of a Mozo Experts Choice Award 2020 in the Casual Trader category^.

    • Flat brokerage fee of $9.50 regardless of trade size

    • ANZ Cash Investment Account

    Read our Mozo Review to learn more about the Classic

    Details Close

  • Premium Trader

    0.075%

    $41.25

    CMC Markets offer a powerful web and mobile platforms & competitive pricing on thousands of instruments.

    • More than 30 trades per month

    • Greater of $9.90 and 0.075% for all trades.

    • CMC Markets Cash Account, no fees. Linked Suncorp or St George margin account

    • dynamic

    Read our Mozo Review to learn more about the Premium Trader

    Details Close

  • Classic

    0.1%

    $0.00

    Fast and reliable access to the markets from your phone, tablet, laptop or multi-screen desktop set-up.

    • Earn up to $150 for referring a friend. To receive referral your friend must meet the minimum funding requirement $3,000, place three trades and have their account funded at time of payment.

    • $6.99 up to $6,990, then 0.1%

    • Saxo Trading Account

    Read our Mozo Review to learn more about the Classic

    Details Close

  • Classic

    0.075%

    $0.00

    CMC Markets offer a powerful web and mobile platforms & competitive pricing on thousands of instruments. Winner of a Mozo Experts Choice Award 2020 in the Casual Trader category^.

    • less than 10 trades

    • Greater of $11 and 0.1% for up to 10 trades per month. Greater of $9.90 and 0.08% up to 30 trades per month, and greater of $9.90 and 0.075% for more than 30 trades.

    • CMC Markets Cash Account, no fees. Linked Suncorp or St George margin account

    Read our Mozo Review to learn more about the Classic

    Details Close

  • Platinum

    0.07%

    $0.00

    Hold ASX securities in your own name with our CHESS-sponsored offering, and access 19,000+ international shares across core and emerging markets.

    • Earn up to $300 for referring a friend. To receive referral your friend must meet the minimum funding requirement $300,000, place three trades and have their account funded at time of payment.

    • $6.99 up to $9,986, then 0.07%

    • Saxo Trading Account

    Read our Mozo Review to learn more about the Platinum

    Details Close

  • VIP

    0.05%

    $0.00

    Professional support whenever markets are open, including technical assistance, market analysis and access to personal sales traders.

    • Earn up to $600 for referring a friend. To receive referral your friend must meet the minimum funding requirement $1,500,000, place three trades and have their account funded at time of payment.

    • $6.99 up to $13,980, then 0.05%

    • Saxo Trading Account

    Read our Mozo Review to learn more about the VIP

    Details Close

  • Trading Account

    0.12%

    $0.00

    Insights, recommendations and support for just $10 per trade under $1000. Get access to over 25 international markets. (See the CommSec page for details)

    • Via CommSec Cash Account: $10.00 under $1,000, $19.95 between $1,001 and $10,000, $29.95 up to $25,000, then 0.12%. Via other account: $29.95 under $10,000, then 0.31%.

    • Commonwealth Direct Investment Account

    • (Aegis Research, $499 annually)

    Read our Mozo Review to learn more about the Trading Account

    Details Close

  • CommSecIRESS

    0.12%

    $82.50

    Make better informed investment decisions with CommSec’s cutting edge research platform. Winner of a Mozo Experts Choice Award 2020 in the Active Trader category^.

    • 8 trades or $220 in brokerage per month

    • Via CommSec Cash Account: $10.00 under $1,000, $19.95 between $1,001 and $10,000, $29.95 up to $25,000, then 0.12%. Via other account: $29.95 under $10,000, then 0.31%.

    • Commonwealth Direct Investment Account

    • (Aegis Research, $499 annually)

    • dynamic

    Read our Mozo Review to learn more about the CommSecIRESS

    Details Close

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Share trading resources

Reviews, news, tips and guides to help find the best share trading for you.

The ins and outs of online share trading

The share market is big business these days - and with tonnes of online share platforms available, you can get involved from the comfort of your own living room. But if you want to become a share trading pro, there are a few things you’ll need to have under your belt.

Firstly, active share trading is incredibly demanding, and you’ll need to be able to set aside a good part of your day if you want to stay on top of the market and execute successful trades. Even if you’re just investing casually, you’ll need to make sure you put time, thought and research into what you’re doing, to avoid mistakes that can lead to big losses.

Along with time, the other big requirement is money. Many brokerage platforms will set a minimum amount required to open an account. Beyond that, you’ll need to take into account costs. If you trade regularly, a good chunk of your money can be eaten up by brokerage fees - more so if you’re trading with a small amount. So it’s really important to choose the right share trading platform with fees that suit your trading style.

And finally, it’s important to understand the market thoroughly before jumping in. Share trading can be risky, so you’ll want to do your research first before diving in if you don’t want to see your savings disappear.

For that reason, it’s wise to use funds that you can afford to lose. Don’t expect to hit all your marks either, as losses will be a given. The key is to make sure they’re far outweighed by your wins.

Why should I invest in shares?

By and large, people invest in shares because they offer a higher potential return than other lower risk options, like a savings account or term deposit. A few good reasons to start investing in shares include:

Diversifying your income streams: Some shares pay annual dividends, giving you an extra source of income and it’s always a good idea to have more than one way of making money. Not only will this give your monthly budget a boost, but it means that if you lose one source of income - like your job - your investments may be another source of income you can fall back on while you sort things out.

Setting up a long term nest egg: If you opt for low risk shares, you might use your investment portfolio as a nest egg for your future. Just keep in mind that there’s always the chance the market could turn against you defending on the investments you make.

Potential for big returns: Manage your investments wisely, and there’s the opportunity to make a much bigger return by share trading than with a savings account or term deposit - especially with interest rates sitting at historic lows at present. But, with bigger returns comes increased risk, so weigh up your options carefully.

Knowing the risks that come with share trading is just as - if not more - important as knowing the benefits. For example, while there’s little to no chance of losing your money while it’s in a term deposit, shares are an entirely different story. If you make unwise decisions, or if the market turns suddenly against you, your money could go up in smoke.

How can I minimise share trading risks?

The good news is that although it can be risky to get involved in the stock market, there are ways you can minimise those risks and keep your investment as safe as possible, such as:

Doing your research: The first step is to do your homework on the shares you’re considering buying. Look up the company or industry, its history on the market, and what experts expect to see from it in the future. This is the foundation of making smart investments that will work for you, instead of against you.

Diversify your portfolio: One great risk management strategy that all investors know, is diversifying your investments. If you’ve got shares across multiple different industries, companies and markets that minimises the chance of suffering losses in all of them at once. Alternatively, an exchange traded fund (ETF) which provides a ‘basket’ of shares or assets and tracks a particular index (e.g. the ASX) could be an option for investors looking for diversity.  

Don’t overextend your budget: This is especially important when you’re just starting out with share trading. It’s better to start slow and set yourself a conservative budget so that if you make an investment misstep, you won’t be left with no savings, struggling to pay the bills. Strategies like taking out a margin loan to maximise your investment should be approached with caution and only by seasoned investors.

Look into low risk investment strategies: Take some lessons from investors who’ve been there before, and try out some of the top low risk investment strategies around, such as Dollar-Cost Averaging.

How can I compare online share trading accounts?

If you’re ready to dive into the stock market, finding a share trading account that works for you will the first step to success. But different accounts are customised towards different investors (e.g. casual investors or active traders), so you’ll need to think carefully about what you really need from an account. Here are a few key things to consider:

Account fees: Many accounts come with a monthly or annual service fee attached. It’s worth comparing your options, as some accounts have much steeper fees than others.

Brokerage fees: Most share trading accounts charge a fee when you buy or sell shares called a brokerage fee. Small trade fees are usually charged as a fixed dollar amount, whereas on larger value trades the fee is often charged as a percentage of the trade. Some brokers have even started offering $0 brokerage for certain trades and markets though, which is why it’s worth shopping around. 

Broker reports, analytics and share market data: Some accounts include access to independent broker reports and marketplace data, which can help you to figure out your investing strategy. Just keep in mind that the more of these features you have, the higher your account fee is likely to be.

Market access: All Australian online brokers will give traders access to the ASX but not all of them do the same for international markets. So if buying international shares from markets like the US, Canada, New Zealand, UK, Europe or Asia is important to you, you’ll want to opt for a platform that gives you international access. 

Trading options: Depending on the broker, users will be able to trade everything from domestic and international shares to bonds, forex, commodities and indicies.

Still need some more information? Keep reading below where we've answered some of the most frequently asked questions about online share trading. 

Picture of Tom Watson
Tom Watson
Finance journalist

Tom Watson is a financial journalist at Mozo and co-host of the Finance Burrito podcast, specialising in fintech, property and business banking. Whether it’s reporting on banking trends or uncovering the latest product innovations, Tom’s mission is to keep our readers up to date with breaking Australian financial news. His work is often sourced in the media and across social media channels. Tom has a degree in Journalism from the University of Technology, Sydney.

Common share trading FAQs answered

What are shares? 

Shares (often referred to as stocks as well) are a type of investment that represent part ownership in a business. They are issued by companies and bought and sold on the share market via a broker or brokerage service.

Are there fees for trading shares?

The majority of the time you buy or sell shares through an online broker you’ll be charged a brokerage fee. These vary depending on the broker, the specific account being used and the size of the trade, but they tend to range between $5 - $20 per trade.   

Which online brokers are available in Australia?

Australian investors have a growing number of online share trading platforms to choose between. There are familiar platforms from Australia’s larger banks including the likes of ANZ Share Investing, CommSec, Macquarie, nabtrade and Westpac, as well as specialist online platforms such as Bell Direct, CMC Markets, IG, SelfWealth and Saxo Capital Markets. 

Online share brokers vs full service brokers: what’s better?

When you’re looking for a service to buy and sell shares through there are two options, broadly speaking. Which one is better for you will depend on the share trading experience you’re after.

A full service broker offers you advice and recommendations for what stocks to buy and where to invest your money. While that means you get the benefit of their expertise, full service brokers will almost always be the more expensive option.

On the other hand, if you opt for an online share broker, you’ll be in charge of choosing your shares yourself and you won’t get any advice - however, online services often come with lower fees. Some also include access to share market publications, analytics and reports which will allow you to do your own research.

What are the different share trading orders?

A share trading order is how you buy or sell shares. There are a few different share trading orders which can be handy if you don’t have time to monitor your investments and market movements all day every day. Here are three of the main types of orders:

  • Market order: This means you’re buying or selling shares at the best possible price at the time your order reaches the market. Keep in mind that if the price of shares changes between the time you place the order and when your broker executes it, the price may be higher or lower than you were expecting.

  • Limit order: This means that you’ve agreed to buy or sell shares once they reach a certain price point. For example, if you’re buying shares the order will only be executed once the price drops to the amount you’ve nominated - or lower - and vice versa for selling.

  • Stop-loss order: As the name suggests, a stop-loss order is designed to limit the amount you could lose if shares you hold start falling in value. If your shares fall to a nominated value, then the stop-loss order is executed as an order to sell them at the best possible price.

What are bonds?

Bonds are fixed income instruments that are issued by governments and companies. When you invest in bonds, you are lending money to a government or company with the expectation that they will a) pay you interest at regular intervals, and b) repay the loan amount at maturity.

What are ETFs, mutual funds and index funds?

  • ETFs: An Exchange Traded Fund or ETF is a type of fund that contains a large number of shares and other investments. They are traded on an exchange, just like shares are, but they offer investors greater exposure to the market than a single share would.

  • Index funds: A kind of ETF or mutual fund that’s designed to track a specific index (a benchmark which measures the performance of a particular market). That is, rather than trying to outperform the index, like many active investors set out to do, index funds try to replicate its performance. Because there’s less involved in managing index funds, management fees are generally much lower.

  • Mutual funds: A mutual fund pools money from many people to invest in shares and other assets. They are operated by portfolio managers who decide which assets to invest in and monitor their performance. Unlike an ETF, mutual funds are not traded on an exchange, and trade only once a day.

What are the best online share trading accounts?

There are so many different fees, features and options available with each different account, so the ‘best’ share trading account for you won’t be the same as it is for another investor, because every trader will have different needs and priorities. 

If you’re after a share trading account that offers great value though, our 2020 Mozo Experts Choice Awards for Online Share Trading are an excellent place to start. In 2020, our experts analysed over 60 different share trading platforms available in Australia from over 20 providers to highlight outstanding options for casual, regular and active traders.