Compare online investment platforms
According to the latest ASX Australian Investor Study, more than nine million Australians now hold investments outside of their super and primary place of residence. This will come as no surprise to many, because investing your own money and watching it grow is highly satisfying, enjoyed by millions of Savvy Australians every year. What may be surprising is that 45% of all new investors are women, who are proving to be highly successful investors, challenging the traditional male dominance in this area of personal finance.
If you’re looking at investing a nest-egg, and want to explore the exciting world of CFDs, share trading, crypto trading or forex trading, Savvy can help you compare online investment and trading platforms right here side by side to help you choose the right platform for you from our trusted partners. u. Find out more about the latest in sophisticated trading platforms then open your account and start trading through Savvy today.
What is online investing and trading?
Online investing involves buying and selling financial products online from the comfort of your own home. It gives you the financial freedom to make your own investment decisions, allowing you to invest in financial products from around the world.
It involves opening a trading account with an online broking service. This is as simple as opening a new bank account. Once an account with your preferred broker has been established, you can then transfer funds from your regular bank account to your trading account.
After your trading account has been funded, you’ll be given access to a trading platform, which is a website where you can buy and sell a wide variety of stocks, shares, CFDs, bonds and currencies. Your trading platform can give you access to financial markets around the globe, allowing you to invest in a diverse range of financial products.
These trading platforms not only allow you to buy and sell shares, CFDs or currency, but also offer financial news, charting capabilities, investment advice and education, and often a forum for connecting and chatting online to other traders.
What types of investments can I compare with Savvy?
All public companies issue shares which can be traded on a stock market. If you buy shares in a company, you become a part-owner of that company. If the value of those shares rise, you can make money and increase the size of your trading account.
Forex or foreign exchange involves buying one currency online and exchanging it for another in order to make a profit. By timing your exchange of currencies, you can profit from the regular daily price movement of foreign currencies on the global forex markets.
A CFD is an agreement between a trader and a broker to buy and sell a contract for a particular asset at an agreed price. The value of the CFD is directly linked to the value of the underlying asset. You can make money when its price changes.
This is a type of currency which only exists digitally online. A unit of cryptocurrency is assigned a value, which is then bought and sold on the international money markets. You can profit from cryptocurrency as the price of the digital token increases.
Why compare online trading platforms through Savvy?
The pros and cons of online investing
Invest from the comfort of your own home
There’s no need to leave home to invest your nest-egg in a range of financial products, from shares to crypto, forex to managed funds. Do it all from the privacy of your home office and watch your nest egg grow.
Forget broker’s investment advice fees
In the bad ol’ days investment advice was expensive, and could involve the payment of hefty advice fees to your stock broker. Take back control of your own finances (and cut out the middleman) by investing your funds directly online yourself.
Trade and invest at your own convenience
In our connected 24-hour world it’s now possible to trade and invest any time of the day or night, so no longer are shift workers or night owls disadvantaged when it comes to investment opportunities after standard business hours.
Steep learning curve
Trading and investing online does require a great deal of background knowledge, but you can get access to mountains of free trading and investment education through Australia’s best online brokers.
Minimum investment amounts
Some brokers require a substantial investment amount to open a trading account, but other online brokers allow novice traders to start investing with as little as $100.
Can lose money
Online trading and investing can be fun and profitable, but it’s also possible to lose money quickly, so make sure you understand the risks before you start on your trading journey.
Frequently asked questions about online investing
Savvy is not advising or recommending any particular product to you. We provide general information on products for the purposes of comparison, but your personal situation or goals are not considered here. Although we try to make our comparisons as thorough as possible, we do not have information on all products on the market on our site.
You should always consult a provider's PDS or further documentation when deciding which trading or investment platform to choose, as well as seeking independent professional advice. If you do decide to open an account with a provider listed on Savvy investment pages, you will not be dealing with Savvy; any applications or enquiries will be conducted directly with the provider offering that product.