Micro-investing apps are a type of trading platform designed to make investing more accessible for beginners.
With features like auto-investing, fractional shares, round-ups and more, micro-investing is suitable for anyone looking for a convenient and affordable way to start building an investment portfolio.
The best micro investing apps in Australia
These are the best trading apps for micro-investing in 2024:
How we picked these apps This list is based on the results of the 2024 Finder Share Trading Platform Awards, which involves analysis of 105 features and 4,000+ data points across 40 trading platforms and uses Finder's proprietary algorithm. Learn more about our methodology here.
While other trading platforms and brokers offer low-fee investing options, we're focusing on platforms that are specifically designed around making small investments ($50 or less) and aimed at beginner or hands-off investors.
You can read our guide to the best share trading platforms if you're looking for a fully-featured investing app.
Syfe is a low-cost platform that lets you invest in fractional US share and low minimum trades on ASX shares, with competitive flat trading fees. It also offers smart baskets, which let you auto-invest into your personalised portfolio and track its performance against your financial goals over time.
Trade 12,000 Australian and US stocks and ETFs
Invest from US$1 or 1 ASX share
Fractional shares only on US stocks
Brokerage fees: AU stocks: $4.99 for trades up to $20,000 and 0.025% for trades over $20,000 US stocks: US$1.49 ETF brokerage fees: AU ETFs: $4.99 for trades up to $20,000 and 0.025% for trades over $20,000 US ETFs: US$1.49 Inactivity fee: $0 Currency conversion fee: 60 bps of trade value
Sharesies lets you invest in a variety of Australian, New Zealand and US stocks and ETFs with no minimum investment amount. It also offers flexible tiered pricing plans for those looking to make regular investments, or a flat pay-as-you-go rate for individual trades. You can also set up auto-investing and round-ups to automatically invest your spare change into your portfolio.
Trade fractional Australian, US and NZ stocks
Flexible pricing plans
No minimum investment amounts
Pricing might not be most competitive depending on how often you invest
Brokerage fees Sharesies offers 2 fee structures to choose from - ‘pay as you go’ and ‘monthly’ plans.
Pay as you go: 1.9% transaction fee on investments, capped. Aussie Shares: $6 AUD per transaction US Shares: US$5 per transaction NZ shares: NS$25
Monthly Plans: $5/month: Covers up to $500 orders with fees included. $10/month: Covers up to $1,000 orders with fees included. $20/month: Covers up to $3,000 orders with fees included.
Other markets: Details here Inactivity fee: $0 Currency conversion fee: 0.60% of trade value
Douugh lets you buy US stocks from as little as $1, with competitive monthly pricing plans (and no fees if you make no trades that month). You can also invest in Bitcoin and a handful of pre-built investing portfolios. Douugh also offers a novel 'Stockback' option that lets you earn 7% cashback using your Douugh card which is then invested for you once you reach $10 in rewards.
Trade US stocks from US$1
Low cost pricing plan
Auto-investing
Only offers US stocks
Brokerage fee per trade: AU stocks: Not available US stocks: $4.99/28 days with unlimited trades ($0 if you make no trades) UK stocks: Not available Inactivity fee: $0 Currency conversion fee: 0.99% of trade value
Other micro investing apps to consider
This is a list of the other leading micro investing apps available in Australia:
Raiz is a mobile investing app that rounds up the spare change from your daily purchases and invests the excess into one of several investment portfolios. There are 9 different portfolios to choose from based on your appetite for risk and it lets you set up recurring payments or make lump sum instalments.
There are no minimum account balances and deposits and withdrawals are free. All you need to do to get started is provide your bank account number, BSB number and online banking login details.
Depending on which portfolio you select, you'll need to pay a monthly maintenance fee of between $4.50 - $5.50. Balances of $20,000 and above attract a monthly fee equal to 0.275% of your balance.
Spaceship Voyager
Spaceship Voyager is a robo-advice platform that lets you transfer small amounts into an investment portfolio without the need to pay for a financial adviser.
There are 5 portfolios to choose from – Spaceship Earth, Universe and Origin, Explorer and Galaxy – with all 5 investing your funds into a mix of Australian shares, global shares and cash.
You can set up regular top-ups each week, fortnight or month, plus there are no contribution, brokerage, withdrawal or exit fees charged on your portfolios.
There is a 0.15-0.50% management fee on each portfolio, as well as a $2-3 a month fee on portfolios with a balance of $100 or more.
You can also invest in individual US stocks and ETFs from as little as $10 through Spaceship.
CommSec Pocket
CommSec Pocket is CommSec's answer to micro-investing apps and does away with the higher fees and high minimum trades associated with the regular CommSec platform.
With CommSec Pocket, you can invest as little as $50 at a time into an ETF of your choice with a brokerage fee of just $2.
There are 10 pre-built ETFs you can invest in, themed around sectors like Australian companies, emerging markets and tech stocks.
Like other micro investing apps, you can either set it to make regular monthly or fortnightly payments, or you can make one-off payments as you like.
Pearler Micro
One of the relatively new players to the market, Pearler is now going beyond traditional share trading and into micro-investing through its Micro platform.
With the aim of "boring, long-term investing", Pearler allows you to invest in 10 specialised ETFs and also set up auto-investing.
Pearler charges its customers $1.70 per month if they select 1 fund, or $2.30 per month should they have multiple funds after balances reach $100.
Brokerage. AUD$6.50 flat fee per transaction to buy or sell AUD and US shares.
Subscription to Pearler Micro – $1.70 a month to invest in 1 fund, $2.30 if you invest in multiple (on balances over $100).
$5
Invest directly in over 2,000 ASX and 5,000 US shares. For its micro-investing product, choose from 10 different ETFs.
Doough
Subscription. $3.99 every 28 days for portfolio investing (on balances above $50) or $5.99 for share trading.
$1
Invest in 6 pre-built portfolios, or buy shares directly, including fractional shares and autopilot investing.
Finder survey: What features matter most to Australians when choosing a robo-advisor or micro-investment app?
Response
Easy to use app
67.14%
Auto-investing
51.43%
Available markets (e.g. Australian or US stocks or ETFs)
34.29%
Spare change round ups
32.86%
Good range of available products or portfolios
21.43%
Risk profiling
20%
Ethical options
12.86%
Security and regulation
11.43%
Budgeting or savings tools
10%
Real advice
10%
Other
2.86%
None of the above
1.43%
Source: Finder survey by Pure Profile of 1145 Australians, December 2023
Micro investing fees
Be aware that there are costs to micro-investing which may eat into what you're saving or getting back in returns. It's important to double-check fees with the performance of the app's chosen investment portfolio. For example, if you're only investing $5 per month, the total fees are $2.50 per month and the returns are less than 1% per month, you might be better off sticking to a savings account.
The fees. There is any number of fees that a micro-investment app may charge. Some of the most common include:
Brokerage fees. The cost each time you invest or make a transaction.
Subscription or management fees. An ongoing monthly or yearly fee to keep the account open.
Other fees. Additional costs may include cancellation fees, withdrawal fees, transaction fees and account opening fees.
That said, you don't need to be a millennial to take advantage of the benefits of micro-investing. Anyone who thinks they might benefit from the convenience of an automatic investment plan should consider the benefits of this approach.
Benefits of micro-investing
It's easy
It's quick and simple to set up an account with a micro-investing platform and link it to your bank accounts. It then acts like a sort of electronic piggy bank for your spare change.
It's convenient
Micro-investing requires minimal input on your part. Because the entire process is automated, you can start building an investment balance without even realising it.
You can start a savings habit
By getting into micro-investing from a young age, you can create positive saving habits that will last a lifetime. It's an effective way for Australians who have never invested their money before to make a start.
Minimal investment required
You don't need a huge bank balance to take advantage of a micro-investing platform. You can start by investing your small change and then watch your balance grow.
Choose from diversified portfolios
The money in your investment fund can be balanced in a diversified ETF portfolio based on your financial goals and your appetite for risk. You don't need to be an investment expert or have specialised financial knowledge.
What are the risks of micro-investing?
No guarantee of returns
Like any investment strategy, there's no guarantee that the investment portfolio that you choose will perform as you hope. In fact, if the investors behind the app lose money, then your balance will fall. This is why it is important to align your goals and objectives with your risk tolerance.
Fee for service
It's worth noting that these platforms aren't free. You'll pay a management fee. This will either be a flat fee or calculated based on the percentage in your account. These fees may also differ depending on your account balance, so it's key to monitor your account regularly to make sure the fee structure continues to work in your favour.
Easy to set and forget your account
Many investors choose to micro-invest because it's easy to set and forget. This can be a good thing in a bull market as it stops you from trying to overly manage and gets rid of the temptation to overtrade. It also runs the risk that the investor doesn't regularly review the performance of the fund. As such, you could underperform your own expectations while still paying for a service that isn't living up to your expectations.
Kylie Purcell is the senior investments editor and analyst at Finder. She has completed a Certificate of Securities and Managed Investments (RG146) and specialises in investment products including online brokers, robo-advisors, stocks and ETFs. See full bio
Kylie's expertise
Kylie has written 134 Finder guides across topics including:
Tom Stelzer is a publisher and writer for Finder, covering investing and cryptocurrency.
He previously worked for Finder as a writer in Australia and the UK, covering things like personal finance, loans, investing, insurance as well as small business and business loans.
He has a Master of Media Arts and Production and Bachelor of Communications in Journalism from the University of Technology Sydney. See full bio
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