The new breed of online trading platforms are expanding their target market from Millennial and Gen Z traders to older investors as artificial intelligence and widely accessible information challenge traditional financial advice and stockbroking.

A survey by AI-led investment platform Moomoo, which launched in Australia in March and has 18 million customers globally, found investors aged 60 and above are more likely to favour online platforms (47 per cent) over traditional advisers and brokers (38 per cent).