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Canstar announces the winners of its 2022 Broker of the Year and Outstanding Value – Online Share Trading Awards. These Awards highlight the top-ranking online share trading platforms on Canstar’s database, based on price and features across different investor profiles.
At a glance:
Numbers crunched:
Providers rated: 22
Products rated: 38
Award-winning providers: 6
And the winners are:
Broker of the Year
Outstanding Value – Online Share Trading Awards:
Casual Investor
CMC Markets: Standard
Interactive Brokers Australia: Share Trading
Nabtrade: nabtrade
Saxo Capital Markets (Australia): SaxoTrader PRO/GO
Active Investor
CMC Markets: Standard
IG Markets: Share Trading
Interactive Brokers Australia: Share Trading
Trade For Good: ViewPoint Lite
Trader
CMC Markets: Alpha
IG Markets: Share Trading
Interactive Brokers Australia: Share Trading
About Canstar’s Star Ratings and Awards
What are Canstar’s Star Ratings and Awards?
If you are considering a financial product, or are keen to compare the performance of the one you already use, you may be looking for reviews to help with your research. That’s where Canstar can help. As Australia’s biggest financial comparison site, Canstar researches and rates products from more than 775 brands, across more than 30 finance categories. Our expert researchers analyse each product we rate by comparing price and features, with the best-value products being recognised with a 5-Star Rating. These ratings are made available for consumers to view for free via Canstar’s comparison tables. The Awards program is designed to highlight the achievements of financial institutions whose products are top performers in our Star Ratings.
Learn more: About Star Ratings | About Canstar
What are Canstar’s Outstanding Value – Online Share Trading Awards?
Our expert Research team conducts detailed reviews of online share trading platforms on our database and allocates Star Ratings (with the best-performing products given 5-Star Ratings), as shown on our comparison tables. They then review the performance of providers to determine Canstar’s Outstanding Value Award winners. The Online Share Trading Broker of the Year Award is based on the cumulative score of a provider’s top-performing platform within all consumer profiles considered, as well as its performance in the Outstanding Value – International Share Trading Award.
What are the consumer profiles considered?
Online share trading platforms included in the Canstar Online Share Trading Star Ratings are assessed across three consumer profiles^, based on the average number of transactions made each month:
Casual Investor
A Casual Investor tends to buy and sell shares occasionally (on average, once a month) and often uses a long-term strategy to review their investment portfolio. When selecting an appropriate broker, comprehensiveness of investment tools is typically not of the greatest importance, with education, ease of use and cost generally being amongst the more important factors.
Active Investor
An Active Investor tends to buy and sell shares more frequently than the Casual Investor (on average, four times a month), and may wish to include managed funds. They typically use the latest market information and fundamental analysis data or reports to determine portfolio holdings. The comprehensiveness of research tools is often an important factor in selecting the best broker for them. Due to a higher trading frequency, cost tends to be important.
Trader
A Trader tends to buy and sell shares very frequently (on average, 30 times a month) and often uses the latest market information to determine their portfolio holdings. When selecting an appropriate broker, the availability of derivatives can be an influencing factor. Due to a high trading frequency, the availability of a dynamic trading platform and cost are usually key considerations for them.
^Source: Canstar Research, 2022.
Learn more: 2022 Online Share Trading Star Ratings and Awards Methodology | Full Star Ratings Results
Congratulations to Canstar’s 2022 Online Share Trading Broker of the Year Award winner
CMC Markets
This is the 12th year in a row that CMC Markets has been recognised as Canstar’s Broker of the Year. The platform received a 5-Star Rating across all three consumer profiles. Canstar Research said CMC Markets had market-leading product features.
When considering online share trading platforms, it’s a wise idea to read all important documents, such as the provider’s terms and conditions, fees schedule, and Financial Services Guide. You may also find it helpful to seek professional financial advice before making an investment decision.
Explore further: Best share trading platforms in Australia in 2022
Cover image source: Eugenio Marongiu/Shutterstock.com.
About Canstar’s Research team
Canstar’s Research team provides the expertise that powers our Star Ratings and Awards, designed to help consumers make better-informed financial decisions. As Australia’s biggest financial comparison site, Canstar researches and rates products from more than 775 brands, across more than 30 finance categories. Our expert researchers analyse each product we rate by comparing price and features, with the top products being recognised with a 5-Star Rating. Our Star Ratings are made available for consumers to view for free via Canstar’s comparison tables. Providers whose products perform strongly in our Star Ratings may be recognised with an Outstanding Value Award.
This content was reviewed by Sub Editor Tom Letts and Sub Editor Jacqueline Belesky as part of our fact-checking process.
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