Disclaimer: The information contained in this article is general in nature and is not intended to be financial advice. This article does not take into account your individual circumstances and it is not a substitute for professional financial advice. Freedom Securities does not make any guarantees about the platforms or apps listed in this article and cannot accept responsibility for any outcomes resulting from your use of these platforms or apps.
Over the last several years the landscape for investing has changed significantly with the rise of dedicated investment platforms and apps that make it easier for everyday Australian’s to break into the stock market.
This article takes a look at some of the best apps on the market and offers tips on what to consider when choosing the right platform for you.
An introduction to investment platforms and apps
Investment platforms and apps have made it incredibly easy for everyday Australian’s to break into investing. These platforms allow you to invest in stocks, shares, ETFs, and various other assets both domestically and internationally. They have made what used to be something complex and out of reach for many as simple as tapping a few buttons.
What to consider when choosing an investment app or platform
There are many investment platforms and apps in Australia, all with different features, fee structures, and use cases. Some apps, like Sharesies, function as a traditional stock broker investing platform, whereas others like Raiz focus on building a managed portfolio as part of your everyday spending.
There are many factors you should consider before choosing an investment app, including your current financial position and future goals, how much you want to invest, and the types of investing you want to engage in.
Investing in the stock market can be a risky business, so it’s always important to seek independent financial advice before you get started.
Top Investment Apps for Australians
1. Raiz
Raiz has become one of the most popular investment platforms in Australia since its launch and is aimed at beginners with little to no experience in investing.
Raiz focuses on investing small amounts regularly to build your portfolio over the long-term. Instead of choosing individual stocks to invest in, with Raiz you choose from one of 6 pre-made managed portfolios ranging from ‘conservative’ to ‘aggressive’.
Investments are made in one of three ways:
- Round Ups which invest the change from your daily purchases (Raiz does this by linking directly to your bank account)
- Recurring Investments where you set a daily, weekly, or monthly investment amount
- Lump Sums or one-off investments
Raiz also has a Rewards platform that allows you to make purchases with rewards partners who invest a portion of the sale back into your portfolio.
Raiz has an extremely well designed app and is very user friendly. One of the biggest selling points its relatively low monthly fee of just $3.50, with no fees charged to deposit money.
2. Sharesies
Sharesies makes it easy to invest in stocks from around the world right from your phone. Unlike Raiz, Sharesies allows you to invest in over 8,200 companies and ETFs across Australia, the US and New Zealand.
There is no minimum investment and you can manage your portfolio from their easy-to-use mobile app.
Sharesies also offer an auto-invest feature to help you grow your portfolio.
There’s no subscription fee to use Sharesies and you’re only charged when you buy and sell shares, or when you exchange money.
3. eToro
eToro is a social investing platform that lets users invest in crypto, stocks, and more without paying any commission. One of eToro’s key features is it allows you to engage in social trading and copy trading, a practice where you can follow pro traders with a proven track record of investing. It has a low minimum investment amount of $10, however it is limited to US stock markets.
4. SelfWealth
SelfWealth functions more like a typical investment account, however with lower fees than the major banks and an impressive suite of tools to help teach you how to invest safely.
SelfWealth also allows you to trade in more markets than any other Australian investment platform, all with a flat-fee.
Once you set up a free account and transfer money, SelfWealth helps teach you to invest safely through detailed stock graphs, dividend yields, and company updates, all backed by data from what other investors in the community are buying.
5. InvestSMART
InvestSMART helps you invest in ETFs by building you a low-cost diversified investment portfolio. They have several ready-made portfolios to choose from and capped management fees from $2 per week capped at $550 per year, regardless of the amount you invest.
6. Superhero
Superhero allows you to trade Australian shares for a flat $5 fee and ETFs for a $0 fee. You can also trade in US shares for a $0 and earn Qantas points when investing. It’s charting and supporting data is fairly basic when compared to other apps and offers less information like price targets or stock analysis to help inform your decisions.
7. Freedom Securities
Freedom Securities has been operating since 1996 and is based on investing on the Thoroughbred Racing Industry (via the TAB) that lets you decide how much you want to work, invest and earn. You can use it to supplement your current income – or replace it entirely.
The Freedom Securities system is built on proven mathematical theory to deliver consistent investment returns and daily cash flow. The software the business is centred around selects daily investing opportunities for you from the days races. These opportunities are based on a tested mathematical algorithm and statistical probability, drawing on historical statistics which show that 85% of winners come from the top four favourites, so you can simply follow the system’s recommendations with confidence. So, races with hot favourites do not fit the system, which is based only on races showing a more open field.
The Freedom Securities software is easy to use and, generally speaking, only requires 3-4 hours per day of your time to see results. You don’t even need to know anything about horse racing because the software makes all the recommendations for you! You simply select the next race, within a set time limit, and within a few seconds, a complete set of odds and returns appear on your computer. If it fits, the system will tell you to place the bets.
The best part is you can work from home (or anywhere!) while setting your own hours. We’ve already helped many of our clients break into this industry and can do the same for you. Speak to us today to find out more.
Conclusion
The rise of investment platforms and apps has made it easier than ever before to break into the stock market. All of the platforms listed offer a unique approach to investing and all come with their own pros and cons, so it’s important to seek independent financial advice to determine if any are suitable for your individual circumstances.