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Which online share trading platform has the most satisfied customers in 2022?
31 Aug 2022
Canstar reveals which online share trading provider has the most satisfied customers in Australia in 2022, according to a survey of investors across the country.
Canstar’s inaugural Most Satisfied Customers – Online Share Trading Award recognises the provider whose users gave it the top score overall. Investors were also asked about their satisfaction across a range of product, cost and customer service factors.
At a glance:
- Investors surveyed: 1,582
- Providers considered: 10
- Winner: CMC Markets Invest
The research also revealed the factors that have the biggest impact on investors’ satisfaction with their trading platform regardless of which provider they invest with.
The factors Canstar asked investors to score their provider on are listed below in order of the influence each one ended up having on overall satisfaction, from highest to lowest.
- Ease of trade (17%)
- Platform reliability (16%)
- Value for money (14%)
- Timeliness of information (11%)
- Customer service (11%)
- Fees and charges (11%)
- Account information and management (6%)
- Communication (6%)
- Research capabilities (5%)
- Educational resources (3%)
You can read the methodology for Canstar’s Most Satisfied Customers awards to learn more about how the result was calculated.
Most Satisfied Customers – Online Share Trading Award winner 2022: CMC Markets Invest
CMC Markets Invest received the highest score overall among the 10 eligible providers considered for the award. Its customers gave the platform its highest scores for ease of trade, platform reliability, account information and management, and fees and charges. CMC Markets Invest outscored the market average in all categories and was the market leader in several areas, including platform reliability and fees and charges.
As well as picking up Canstar’s first-ever online share trading customer satisfaction award, CMC Markets Invest won the 2022 Online Share Trading Broker of the Year Award which was assessed by Canstar’s expert researchers based on price and features earlier this year. It has won this expert award for 12 years running.
The platform allows investors to trade more than 35,000 shares and a range of products including, ETFs and bonds. Investors pay $0 brokerage on US, UK, Canadian and Japanese markets and can complete one brokerage-free purchase of Australian shares up to $1,000 per day.
Older males from Tasmania the most satisfied investors on average, research finds
Canstar’s research also offered some insights into how satisfied different groups of Australians are with their online share trading provider.
It found that the older the investor, generally the more satisfied they are with their provider, with those aged 70 and over giving their provider the highest score in all categories. Younger investors aged 18 to 29 were the least satisfied, and their average satisfaction score for fees and charges was the lowest out of all age groups and categories considered in the research.
When it came to gender, male investors were more satisfied with their provider on average than females. But relatively speaking, males and females responded similarly in terms of the categories they were most satisfied with on average; namely, ease of trade and platform reliability. Australians identifying as non-binary were also included in the survey. However, there was an insufficient sample size for them to be reported in the results.
Of the Australian states and territories with a sufficient sample size, Tasmanians were the most satisfied with their share trading platform on average, while Victorians were the least satisfied.
| Provider | Ownership model | Minimum buy trade amount | Fee for $5k trade | |
|---|---|---|---|---|
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CHESS sponsored | $1 AUD | $3 AUD |
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|
Custodial | $10 USD | $2 USD (Foreign exchange fees apply) |
 |
|
CHESS sponsored | $500 AUD | $3 AUD |
 |
|
Custodial | $90 AUD | $8 AUD |
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|
CHESS sponsored | $500 AUD | $11 AUD |
View all Canstar rated Online Share Trading products. View Disclosures.
Main image source: fizkes/Shutterstock.com.
This article was reviewed by our Sub Editor Tom Letts before it was updated, as part of our fact-checking process.
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