I try every investing app that gets launched in Australia so you don’t have to. These are my favourite apps and the ones that I use to build and grow my wealth.
These days it’s now easier and cheaper than ever to start investing. In Australia there is now a great selection of investing apps to suit just about everyone. And you don’t even need a lot of money – you can start investing with as little as $5.
Spaceship is a micro-investing app and has been my #1 performing investment over the past few years. With as little as $5, you can invest in 1 of 3 different portfolios made up of stocks. I invest in the Universe portfolio which is made up of companies that Spaceship believes will be important in the future. So instead of investing in banks, coal mining companies and struggling retailers, you can invest in companies like Apple and Tesla.
You can also invest in an index portfolio made up of 200 of the largest companies and an Earth portfolio made up of sustainable stocks.
Pearler is an investing app built for the long term. Invest in Australian and U.S shares and ETFs. A limited selection of ETFs on Pearler can be bought commission free (if you buy and hold them for one year).
One unique feature of Pearler are portfolio templates. If you're new to investing then these are a good place to start.
Raiz is a micro-investing app. You can invest as little as $5 at a time in a diversified portfolio of ETFs. You can choose one of 7 pre-made portfolios (which I think I pretty excellent) or even build a custom portfolio.
Raiz has some unique features such as roundups and rewards. Roundups tracks your spending and automatically invests every time you spend money.
I used Raiz to save more aggressively for my house deposit. And continue to use it as part of my main portfolio.
Investing in US shares like Apple, Amazon and Tesla, used to be really expensive. Buying these stocks through Commsec or other other traditional brokers would requires thousands of dollars (at the minimum) to make it worthwhile and offset the huge brokerage fees.
Stake lets you invest in US shares with zero commissions. That's right – no brokerage commissions! The only fee you're charged is a small FX conversion fee when you deposit AUD and it gets converted into USD.
I use Stake to invest in a portfolio of U.S ETFs (Like ARK Innovation and Vanguard Mega Cap).
eToro offers a similar deal to Stake – you can invest in U.S and European shares commission free. eToro also offers forex, crypto and commodity trading (although these can be more complex and I recommend newer investors stick to investing in real stocks through eToro).
I'm including eToro in this list because it's the only app available to Australians that lets you invest in European stocks commission free.
eToro does have a unique copy trading feature. This lets you copy other traders. When they make a trade your account will too. You can browse through the profiles of thousands of traders, see the trades they've made in the past and how profitable they have been (remember though past performance doesn't indicate future results).
I use eToro to invest in a portfolio of tech stocks like Apple, Tesla, Nio, Amazon etc. And I'm also using eToro to experiment with Copy Trading.
Superhero is one of the cheapest ways to invest in Australian stocks. Before Superhero came along, the cheapest broker was SelfWealth. Selfwealth charges $9.95 per trade. Superhero charges $5 per stock trade and $0 per ETF buy (if you hold it for 12 months). While you don't get a HIN (Chess sponsored account) on Superhero, I don't think that's a big deal anymore. (If you do want a CHESS sponsored account and $5 trades, then I would recommend OpenTrader. There really isn't much of a reason to use SelfWealth anymore).
I use Superhero to invest in individual ASX listed stocks.