For the majority of people, investment is a part-time endeavor. As such, investment apps are a must-have for anyone in Australia, who wants to engage in financing.
Of course, not all apps are created equal. You first need to know which apps are worth a download. Here are the top investment apps that you can sign up for in Australia:
1. Raiz Invest
This is an app that has gained a fair amount of popularity among younger investors. It is ideal for someone who wants to begin investing but doesn’t have a lot of capital to do so. With Raiz, you have three options when investing.
The first – and most sought after option – is to invest the change from your daily purchases. Here, the app takes a look at what you have spent and rounds it up to the nearest number. Then, the app adds the difference to your account. Once it reaches $5, the app will automatically invest the money.
The second option is where you can set recurring payments. Or, you can decide to invest a one-time, lump sum. What’s great about this app is that you can select a portfolio depending on how much risk you can take on. Thus, you can select from a Conservative, Moderately Conservative, Moderate, Moderately Aggressive, Aggressive or Emerald portfolio.
- Brokerage: $0
- Minimum Investment: $5
- Fees: $2.50 per month for a balance of less $10,000 or 0.275% per year for a balance less $10,000
2. Spaceship Voyager
This is yet another app that targets newer investors. To start with, the app allows you to invest smaller amounts. You can choose to make weekly, fortnightly, or monthly deposits. However, you can adjust these payments at any time.
The concept behind Spaceship Voyager is that you have to do very little when it comes to your financing endeavor. This is because the app doesn’t let you choose stocks. Instead, you can select between the Spaceship Universe or the Spaceship Index Portfolio.
The Spaceship Index Portfolio is an indexed fund that tracks the ASX200. On the other hand, the Spaceship Universe consists of a fund that contains carefully selected stocks that are said to beat the market. This makes this app ideal for anyone who wants to sit back and watch their portfolio grow without making any effort at all.
- Brokerage: $0
- Balance less than $5,000: $0
- Spaceship Index Portfolio balance less than $5,000: 0.05% per year
- Spaceship Universe Portfolio balance less than $5,000: 0.10% per year
3. CommSec Pocket
If you would rather buy into an ETF than trade with shares, CommSec Pocket is an excellent option for you. In many ways, this app is the best of both worlds. While it follows a micro-investing pattern, you do have the opportunity to access a well-known and renowned platform.
Here, you can invest a lower amount and the brokerage fee is quite forgiving as well. With CommSec Pocket, you have 7 investment themes to select from. These are individual listed ETFs that give you complete control over the ETFs that you can invest in.
Not only can you invest a smaller amount with your app, but you also get to decide how to make payments. As a result, you can make a single, lump-sum payment or you can set it up to make fortnightly or monthly payments.
- Brokerage: $2 for trades up to and including $1,000 or 0.20% of the value of trades above $1,000
- Minimum Investment: $50
This is a useful app if you are looking to invest outside of Australia. Stake gives you the opportunity to invest in US shares. As such, you can get in on the action of companies such as Google, Netflix, Facebook, and Amazon. Best of all, the process is made a lot simpler for you.
When you sign up with Stake, the app takes over the W-8BEN form for you. As a result, you can claim concessional tax treaty benefits without too much of an effort. That’s not all, though. The app also gives you the opportunity to make fractional investments. So, you can invest small-dollar amounts and buy fractions of shares.
Instead of being charged brokerage fees, the company makes its money off of the exchange rate. As such, you are charged when your Australian dollars are converted into American currency.
- Brokerage: $0, $9, or $19 per month
- FX Fees: US 70c per AU$100
5. CMC Markets
If you are looking to step up your trading game, then this is the app for you. The CMC Markets app boasts a number of features, news, and options that are tailor-made for experienced traders. There is a fair amount that you can do on this app.
To begin with, you can view and manipulate your orders in any way. This includes selling, buying, amending, and canceling orders. This is done with the help of take profit or stop loss instructions. At the same time, you can view your order history and check out current positions as well.
As an added bonus, you can get market news directly from Dow Jones, Morningstar, and ASX. The company also has a head office in Australia which can be reassuring to some investors.
- Less than 11 trades: $11 or 0.10%, whichever is greater
- 11 – 30 trades: $9.90 or 0.08%, whichever is greater
- More than 30 trades: all trades are $9.90 or 0.075%, whichever is greater
If you have a little bit more confidence with your trading skills and would like to start trading in larger volumes, then this is a great app for you. To use this app, you first have to set up a SelfWealth Trading account. Once you have done this, you can automatically sync up your accounts.
There are several advantages associated with this app. To begin with, there are a number of features available to you. You can buy and sell shares from a digital device. Furthermore, you can view your order history and make amends to your orders as needed. You also have the opportunity to analyze the performance of your stock and determine your overall earnings.
What really stands out about this app, though, is that it has a flat brokerage rate. This means that regardless of your trade volume, you are only expected to pay a specific amount. Thus, it is ideal for those who are looking to start dealing with larger trades.
- Brokerage: $9.50
- Minimum Balance: $0
7. Atlas Trend
It should be noted that, currently, there is only a desktop app for this platform. A mobile one is yet to be designed. However, this app does offer you opportunities that many others do not. This app allows you to invest in global trends rather than specific shares.
Best of all, these are managed funds and they are closely monitored. Therefore, while they are in a position to grow, you aren’t expected to do all that much. With the help of the Atlas Trend, you can invest in clean energy, technology software, and a lot more.
The minimum investment is a little higher than other starter investment apps. However, you do get the option of paying the amount as a lump sum or in smaller deposits. When you create an account, you will also be incurring certain fees, including those that will be based on your performance.
- Brokerage: $0
- Minimum Investment: $1000 or $100 per month
- Fees: 0.99% yearly management fee plus 15% performance fee
These are the top investment apps in Australia. Regardless of whether you are a novice or professional trader, there is something for everyone. Furthermore, these apps offer numerous investment opportunities, irrespective of what you are interested in. Whether you want to keep it local or take it international, you will not be disappointed. The trick here is to select the app that is best suited to your goals and requirements. Once you have done this, you will find that financing becomes a great deal easier for you.
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