How to get started with online investing this new financial year
Thinking about investing? There are a few things to know first. We walk you through some of the key considerations.
Sponsored by moomoo. Moomoo is an all-in-one trading app that helps users discover opportunities and assists them in making the most of their investments. Access the US, Australian and Hong Kong markets on moomoo.
If you've been thinking about online investing, it can seem a bit daunting. But by getting set up with the appropriate tools, you can make getting started with investing more straightforward.
How can I choose a trading platform?
Trading platforms aren't created equally. There are a variety of interfaces to suit different traders; but if you're just getting started or returning to the fold, it might be worth looking for a straightforward interface and user-friendly features.
So it's important to look for a platform that suits your specific needs and investment goals. You can learn more about some of the features to look out for at Moneysmart.
As an example, let's take a look at some of the features offered by moomoo.
- Demo account: When you start trading, you don't want to place real funds at risk straight away. moomoo provides members with $1,000,000 virtual cash to use in a paper trading account, which is pegged to real market values across the ASX, Hong Kong exchange and US stock exchanges. You have unlimited time to use this, so can periodically test out new strategies. Just remember -- conditions in a demo environment may not always be representative of real trading.
- Broad range of trading options: Trade more than 26,000 stocks and ETFs.
- Dedicated support: Moomoo offers 24-hour support during every trading day.
- Educational resources: Moomoo offers courses to help new investors get up to speed.
Make sure that you also check the bona fides of any trading platform, too. Trading in Australia is heavily regulated by ASIC, so make sure that you can find an Australian Financial Services License number for your preferred trading platform. If they don't have one, they are operating illegally in Australia -- which could potentially also have legal consequences for you too.
Is it worth having multiple trading platforms?
This will depend on what your investment goals and trading needs are. There are three primary types of trading accounts:
- Individual accounts: These are designed for people looking to trade on their own
- Joint accounts: Joint accounts are intended for situations where multiple people need to have access to a trading account. This may include business partners or family members.
- SMSF accounts: These are specialised accounts intended for people with self-managed super funds. Be aware that choosing self-managed super funds is a significant financial decision, and this is not an option that would be appropriate for beginning investors.
Although some highly experienced and professional traders will maintain multiple trading platforms, this is not strictly necessary. When you're just starting out or in relatively new investment territory, having a consolidated account may be preferable. After all, when you're juggling multiple accounts, fees can add up, portfolios can be needlessly split, passwords can be lost and more!
Having a consolidated platform can be a more streamlined way to manage investments. For example, moomoo provides you with access to a number of different assets, including:
- Stocks (via US stock markets, Australian stock market and Hong Kong stock market)
- ETFs
- Fractional shares
- Options
How to get started with moomoo
Starting your investment journey with moomoo usually takes around 5 minutes, provided you have all of your information handy.
1. Download the moomoo app and select Sign Up.
You'll need to enter your email address, choose a password and then login. Once you've done this, you can open a trading account.
2. Verify your ID
Moomoo will ask you a range of questions, covering details like:
- Your name
- Your address
- Your phone number
- Your date of birth
- Your Australian citizenship status
- Your tax file number (to avoid excess tax being withheld)
After this step is complete, make sure you read the relevant risk disclosure statement.
3. Deposit funds
No minimum deposit is required with moomoo to create an account. However, you will need funds to start trading.
4. Make your first trade
After these steps are complete, you can start trading and building your portfolio.
How can I avoid paying too many trading fees?
When you're choosing a trading platform, fees should be one of your first considerations. After all, trading fees can add up very quickly if you don't think carefully about it beforehand.
Looking for a trading platform that explicitly has low fees can be helpful. Let's look at moomoo as an example. Finder research has noted that moomoo are considered to have competitive rates within the market.
As of June 2026, moomoo trading fees are as follows:
- Australian equities: 0.03% (min AUD $3)
- US equities: flat rate of US$0.99 per trade
- Hong Kong equities: HK$3 or 0.03% (whichever is greater) + HK$15 platform fee per order
Other fees (including FX fees) may apply. Make sure you always read the full T&Cs -- but keeping an eye out for lower fees can help keep more cash free for trading in the long run.
Is there much of a learning curve for online trading?
Yes and no. Like many things in life, trading is relatively straightforward to learn, but difficult to master. You can find resources about how to invest via Moneysmart. Some (but not all!) of the things you'll need to learn include:
- The specifics of your trading platform
- How to read reports
- Looking for market trends
- Developing an investment plan
- Leveraging investment strategies
The good news is that you're not on your own. There are lots of resources available to help, like moomoo Learn.
Moomoo Learn offers a range of courses designed to help new and experienced investors alike. And it's important to commit to ongoing education if you're serious about trading long-term!
Key takeaways
- Looking for a user-friendly trading platform can help you get to grips with the basics of trading.
- Moomoo allows you to trade stocks, ETFs and more across the US stock exchanges, Hong Kong stock exchange and the Australian stock exchange.
- Using a demo account can help you grow your skills. Just remember that trading with real money is different to trading in a demo environment.
- Moomoo is considered to have competitive trading fees across a variety of categories.
- You don't have to feel alone when you're getting started with investing. Moomoo Learn can help you get equipped and with your ongoing trading education.
Learn more about trading with moomoo
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How we picked theseFinder Score for share trading platforms
We've scored over 30 share trading platforms assessing them for their core features, fees, customer experience and accessibility. Our experts give each platform a score out of 10.