Three of the biggest ASX mining stocks were the most traded shares in October among investors using the Selfwealth Ltd (ASX: SWF) trading platform.
Investors bought and sold more Fortescue Ltd (ASX: FMG), BHP Group Ltd (ASX: BHP), and Mineral Resources Ltd (ASX: MIN) mining shares than any other ASX stock last month.
The data shows that Fortescue was the most traded ASX stock, but only 55.2% of trades were buy orders.
Selfwealth noted the first net outflow of investment dollars into Fortescue shares in six months.
Investors on the trading platform are also increasingly trading in Mineral Resources stock. In September, the ASX iron ore and lithium stock was the sixth most traded share. In August, it was ranked 14th.
Speculation that the iron ore price may rise due to new Chinese stimulus saw ASX iron ore shares rallying at the beginning of the month. They then fell when further stimulus did not eventuate.
Company news may also have played a role in the higher trading levels for these ASX mining shares.
Mineral Resources shares were especially volatile following revelations that former CEO Chris Ellison had failed to declare some of his income to the Australian Taxation Office and had been fined for this last year.
Meantime, BHP released a positive 1Q FY25 update and announced a $47.9 billion legal settlement over the Samarco dam failure. Fortescue also issued a quarterly update last month.
Here's what happened to the prices of these 3 ASX mining shares in October:
- Fortescue shares fell 7.3%
- BHP shares fell 7.22%
- Mineral Resources shares fell 24.29%
Let's check out the other top 10 most traded ASX shares last month.
ASX mining stocks top the list of most-traded shares
These are the top 10 most traded ASX shares in October by volume (including both buy and sell orders).
The percentage of buy orders gives an indication of investors' conviction on each ASX share.
| Rank | Top ASX shares by trading volume | Percentage of buy orders |
| 1 | Fortescue Ltd (ASX: FMG) | 55.2% |
| 2 | BHP Group Ltd (ASX: BHP) | 53.7% |
| 3 | Mineral Resources Ltd (ASX: MIN) | 68.1% |
| 4 | Woodside Energy Group Ltd (ASX: WDS) | 67.9% |
| 5 | Zip Co Ltd (ASX: ZIP) | 60.2% |
| 6 | Pilbara Minerals Ltd (ASX: PLS) | 55.2% |
| 7 | ANZ Group Holdings Ltd (ASX: ANZ) | 49.8% |
| 8 | DroneShield Ltd (ASX: DRO) | 70% |
| 9 | Appen Ltd (ASX: APX) | 55.6% |
| 10 | Qantas Airways Limited (ASX: QAN) | 43.7% |
Top 10 most traded US stocks in October
Chip maker NVIDIA Corp (NASDAQ: NVDA) was the most traded US stock for a second month.
The Nvidia share price lifted by 9.32% in October.
This may have reflected investors' desire to buy Nvidia stock ahead of the company's next lot of quarterly results, which we reported on yesterday.
Here are the other top 10 most traded US stocks in October among Selfwealth investors.
| Rank | Top US stocks by trading volume | Percentage of buy orders |
| 1 | NVIDIA Corp (NASDAQ: NVDA) | 61.8% |
| 2 | Tesla Inc (NASDAQ: TSLA) | 56.7% |
| 3 | MARA Holdings Inc (NASDAQ: MARA) | 57.6% |
| 4 | Apple Inc (NASDAQ: AAPL) | 48.8% |
| 5 | Alphabet Inc Class A (NASDAQ: GOOGL) | 67.5% |
| 6 | MicroStrategy Inc (NASDAQ: MSTR) | 67.4% |
| 7 | Microsoft Corp (NASDAQ: MSFT) | 66.4% |
| 8 | Palantir Technologies Inc (NYSE: PLTR) | 61.3% |
| 9 | Amazon.com Inc (NASDAQ: AMZN) | 52.4% |
| 10 | Advanced Micro Devices, Inc (NASDAQ: AMD) | 55.9% |
