Spaceship vs Raiz vs CommSec: Finding the Best Micro Investing App in Australia | Equity Mates Media (2024)

FAQs

Is spaceship better than Raiz? ›

If you are looking for a simple way to start investing with minimal funds, Raiz might be the right choice. Spaceship, on the other hand, appeals to those interested in thematic investing and innovative industries. CommSec Pockets, with its affiliation with CommSec, offers a more traditional yet user-friendly approach.

Your money is insured against fraudulent and criminal activity. If you have a complaint and cannot contact us, you can always contact the Australian Financial Complaints Authority (AFCA).

Any services that you receive from Raiz will be subject to the terms of a separate written agreement and the applicable Product Disclosure Statement. Raiz will only provide its services to users who meet its eligibility requirements which, at this time, include a requirement that the users be an Australian resident.

Is Raiz safe? Firstly, Raiz is an ASX listed financial services company with an Australian Financial Services License (AFSL) and is overseen by ASIC, so you know it's a legit company. Money in your Raiz account is held by an independent Custodian (Perpetual Corporate Trust Limited).

Since inception, $733,000 has been earned and invested by doing Raiz surveys. Raiz users who have completed surveys have earned an average of $7.50 per month in the past year. For almost all these users, this is more than offsetting their monthly Raiz fees.

Investors seeking maximum returns in Australia should consider investing in Australian shares for long-term gains, as they offer high potential returns. Government and corporate bonds also present a safe option for low-risk, fixed-rate returns.

It offers the standard minimum trade, access to international trade markets and a wide-range of educational tools. Thanks to these factors, CommSec is a leading choice for both beginner or seasoned investors, and those wanting to take their trading further afield than the ASX.

PERFORMANCE RISK

The value of your Raiz Investment Account, can go up or down. Returns are not guaranteed, and you may lose money. The rate of return varies, so future returns may differ from past returns. Risk impacts vary for individual investors depending on age, investment time frame, and other investments held.

What are the best alternatives to Raiz? ›

See how Raiz Invest compares to similar products. Raiz Invest's top competitors include Changed, Stash, and Spaceship.

Maintenance fees

Raiz makes it free to set up an account and charges no brokerage fees, but will charge ongoing admin fees once you deposit money. If you have one of the five main risk-based portfolios or the Emerald portfolio, you'll be charged a $3.50 monthly fee if your balance is under $15,000.

The primary benefit of our fund's assets being held by a custodian is the assurance an independent custodian provides Raiz users. Hypothetically, if Raiz was to suddenly go out of business, the assets are still held by the Custodian and the dollar value of every user's account would be returned to them.

Micro-investing through apps like Raiz and Spaceship can potentially give you access to much larger returns than savings account. But that potential for good returns comes with extra risk. Shares and markets can fall in price and you could lose money through micro-investing.

The underlying stocks of the ETFs which make up the Raiz portfolios pay dividends from time to time. The ETF provider pays these dividends out monthly, quarterly or twice yearly. All dividends received by Raiz will be automatically reinvested back into the chosen portfolio of your Raiz investment account.

Is my money safe with Spaceship Voyager? Yes. Keeping your investment and personal information safe is important to us. That's why we've employed physical, electronic, and procedural safeguards—including 256-bit encryption and Secure Sockets Layer (SSL) — to keep your money and personal information safe.

Spaceship operates per the Australian Privacy Principles (APPs) contained in the Privacy Act 1988 (Cth). The APPs govern how we collect, use, disclose, store, secure, and dispose of your personal information. Spaceship stores your information securely in keeping with our Privacy Policy.

As you can invest in fractional shares with Spaceship, you can choose to reinvest the dividend that was paid into your bank account back into the underlying stock or ETF.