Trading in any commodity can be an exciting activity. For some, it may be a hobby that they like to dabble in from time to time, and for others, it may be a source of income.
Many people lost their jobs during 2020, and trading online started to turn from something they had developed an interest in, to a full-time career. Other people are interested in longer-term investments, perhaps for later life and retirement.
What all these different traders and investors have in common, is the need for a broker. To be able to make purchases and sales on ASX you would need to have a participant broker.
Now though, a number of companies have made access available to armchair traders. Anyone can now enter the world of online trading platforms and invest and execute trades.
Three new Australian share trading platforms worth knowing
Many platforms are worth investigating if you are interested in investing in Australian Securities Exchange listings or on global markets such as the London Stock Exchange.
Many quality platforms are available for computer or mobile devices, and you may already have heard of some of them. CMC Markets Invest, ThinkMarkets, eToro, IG Share Trading, and Bell Direct Share Trading, are all big names when it comes to trading platforms.
However, three new Australian share trading platforms are being noticed. These three should be of interest to anyone who wants to trade seriously or casually online, and there are some brief details of each below.
This company has been developing trading platforms for institutions for more than 20 years. Through a certain amount of frustration with the current trading platform apps available, they decided to relaunch Marketech Focus to help retail traders.
This trading app is notable as it provides new users with an individual cash management account with Macquarie Bank, and also an individual HIN.
Not all trading platforms will offer unique holder identification numbers, and any serious trader should only use platforms that do.
One other notable point to make about Marketech is that they have included a functionality that has previously been mostly limited to institutions. Retail traders are now waking up to the idea of trading more seriously, and they are demanding live price data and sophisticated monitoring tools.
This trading platform comes with a paid subscription model that is designed to help active traders spend less on brokerage. There is also a free version for casual traders.
The ASX is one of the world’s top 15 listed exchanges with a daily turnover of around A$4.685 billion.
This shows how many trades are going through the ASX, and the rise in retail traders using trading platforms has only made it busier. Superhero is one more trading platform that is worth checking out if you are thinking of getting into stocks, or want to switch apps.
Superhero was launched in September of 2020 and has a strong following as do the other two trading platforms in this article.
This trading platform also provides live data as Marketech does, but it has some extra tricks of its own.
Superhero allows casual investors to purchase fraction shares in the US market, and also to make investments in the ASX of only $100. This means more accessibility for retail traders.
However, it comes with a hitch. Due to these smaller investment levels, traders do not get to receive an individual HIN and instead have stocks held by a custodian.
This trading platform is not exactly new, but it has just had a recent update, and more features are coming.
SelfWealth is a popular trading platform that has just added live pricing data. This is important to any trader who wishes to make accurate time-sensitive trading decisions.
There are a few negatives about SelfWealth. Support is limited to email and live chat. Markets are limited to NYSE, ASX, and NASDAQ. However, there are changes afoot.
Bitcoin trading can be a good opportunity to make an investment, and SelfWealth feels the same way. The company has promised that cryptocurrency trading will soon be added to the platform.
Perhaps the biggest draw for SelfWealth’s user base is the fees being charged. No matter how big the trade is, there is a flat brokerage fee of $9.50.
Each of these three share trading platforms has some great selling points. Last year there was a day trading boom as lockdowns were enforced, and this became concerning for many financial experts.
However, using trading platforms such as these, with professional tools and up-to-the-minute pricing, could help retail traders make better decisions.
Now, the only thing left is for you to decide which platform to go for if you decide to get into the world of trading stocks and shares.
SelfWealth offers flat-fee brokerage, Superhero lets small investors play in the market, and Marketech gives access to serious tools. Whatever you decide, invest wisely and stick to your strategy.
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