Best Investment Apps In Australia
There are dozens of investment apps in Australia. They range from beginner-friendly robo-investing platforms to in-depth technical trading apps.
Here, weve rounded up the 6 best investment apps Australia for every type of trader and investor:
- eToroOverall Best Investment App Australia 0% Commission
- Capital.comBest Mobile CFD Trading App for Beginners
- Crypto.com Best Investment App For Crypto Investing 2022
Best Investing Apps For On
Today, there are mobile apps for just about anything. Want to order food, chat with a friend, send a package, or get a ride to work? Theres an app for that. Investing is no different.
The best investment apps give their users the same experience in the palms of their hands as they enjoy sitting at a desk. Moreover, these apps are offered by companies with some of the best reputations on Wall Street, giving the user peace of mind knowing their money is in safe hands.
Some apps are designed for the active investor who makes multiple trades per week or even per day, while others are designed for passive investors who want to take the set-it-and-forget-it approach.
Regardless of which experience youre looking for, theres likely an option below that fits in well with your needs as an investor.
Why Choose Webull To Trade Stocks
Webull also provides you access to several powerful tools useful for in-depth trading analysis. These easily make the service one of the best stock research and analysis apps for conducting technical analysis.
For traders, in addition to the commission-free trading and analytic tools, the brokerage offers a subscription to Nasdaq TotalView for $1.99/month, allowing you to see Level II quotes.
This can help you to gain a better sense for the full supply and demand for a stock outside of the national best bid offer .
These advanced quotes will provide you with a deeper look into the market for understanding market direction and any potential supply and demand imbalances for a stock you pick.
If these account features sound attractive, the best part might also come with knowing setting up a Webull account is free and comes with no account minimums you must meet or maintain.
If all the free listed above isnt enough, Webull also runs frequent promotions which involve you receiving free stocks.
Read more in our Webull review.
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Sofi: Best For Automated Investing
Why:SoFi has a broad range of low-cost investments, 10 pre-built portfolios, automatic rebalancing, and free portfolio management. And unlike many other automated options, SoFI gives investors free access to financial planners.
What is SoFi Invest?
SoFi Invest launched in 2017, making it one of the newer investing apps on this list,, but you may already recognize the name for student loan refinancing, personal loans, insurance,
Overall, SoFi is a great fit for cost-conscious investors who want a passive experience. Again, there are no portfolio management fees, but the average expense ratios on SoFis portfolios are 0.05%.
SoFi walks you through the process of selecting the right portfolio, based on your goals and timeline. Then it recommends one of 10 different portfolios containing ETFs from 13 different asset classes. Portfolios are automatically rebalanced if any security reaches 5% of drift.
No matter what your balance is, all clients get unlimited access to SoFis financial planners for no extra charge. This is a major perk, even among best investment apps. SoFis CFPs are non-commissioned fiduciaries, meaning they dont make money off of recommended trades, and theyre obligated to operate in your best interest.
SoFi also has an active investing platform if you want to try your hand at self-directing investments. And it has a high-interest savings account that pays 0.25% annually.
Sofi fees: $0 management fees $75 outgoing transfer fee
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How Much Should I Invest
If youre investing for a pension, a good rule of thumb is to halve your age and pay this much as a percentage of your salary each month.
For example, if youre starting a pension at 40, you should be looking to put 20% of your salary away each month.
If youre investing for shorter-term goals, then think about how much youre aiming to save, and work back from there. You can add in some assumptions about investment growth, such as 3% or 5% a year, but dont forget to deduct fees.
If you end up saving more than you need its a nice problem to have.
Before you start an investment portfolio, make sure you have a decent amount of cash in an easy access account say, three months worth of salary that can be used for any emergencies such as your car or boiler breaking down.
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Overall Best Use Case For Wealthify
Wealthify is a great tool for anyone who wants to stay updated on their investments and make the best decisions. The investment scan and investment recommendations are great ways to find better investments that fit your needs and risk tolerance. The investment alerts help you to stay informed about the latest news about different funds, so that you can make the best decisions for your money.
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Are Some Apps Better For Investing Than Others
Some apps provide special features or focus more on education, while others focus largely on executing trades. For example, Wealthbase is a great app for playing stock market games, but it wont execute trades for you. In contrast, Wealthfront and Betterment will both invest your money for you, so you dont have to do much but deposit money in your account.
And those apps differ from brokerage apps such as Robinhood, Charles Schwab and Fidelity Investments, where you need to know what you want to buy. These brokers also allow you to buy different securities, such as stocks, bonds, mutual funds and more. Robinhood and Invstr allow you to buy cryptocurrency commission-free, too.
So the investment apps can provide a variety of different features and benefits, and youll need to select which ones meet your needs.
The Best Apps For Investing In Stocks Etfs And More
Gordon Scott has been an active investor and technical analyst of securities, futures, forex, and penny stocks for 20+ years. He is a member of the Investopedia Financial Review Board and the co-author of Investing to Win. Gordon is a Chartered Market Technician . He is also a member of CMT Association.
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Investing is an important part of preparing for your financial future. These days, theres an app for everything, so it makes sense that there are plenty out there to help you invest.
While most investing apps do similar thingshelp you buy and sell stocks, bonds, and other securities from your phoneeach is designed for a different type of investor. While anyone can benefit from things like low fees, low account minimums, and a simple user interface, youll also want to think about what type of investor each app caters to.
If youre looking to start using an investing app, heres what you need to know.
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What Types Of Accounts Are Available
UK investment apps tend to offer a number of different account types.
These provide a range of services, tax efficiencies and investment options.
Knowing what your investment goals are is key here because some online stockbrokers do not offer this range of account types.
That can mean you are stuck with an account that you donât want now or, later on down the line, that you end up having to use a separate investment app to open the account type you need.
The most basic accounts on offer are:
General investment account – Often referred to as a . This is a basic account that lets you invest in exchanged-traded funds, shares or any other assets that a broker offers.
Individual Savings Account – These are tax-efficient investment accounts. You tend to have to pay more fees when you open ISA accounts because of the tax benefits they confer. Otherwise they are similar to a GIA.
Self-Invested Personal Pension – A SIPP pension account lets you manage your own investments for your retirement. Like ISAs, they offer some tax efficiency which means they are usually pricier than GIAs.
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Top Five Investment Platforms For Beginners
We have used our ratings, compiled by independent research firm Fairer Finance, to pinpoint the cheapest trading platforms in the market.
We also considered how well they would work for a novice investor to buy or sell stocks.
Our best platforms for beginners all have top five-star ratings, which means their total costs are below the sector average, and they do not impose any nasty exit penalties or additional high fees or charges.
Relative Newbie Happily And Easily Investing Money
I downloaded this app about a year ago and have accumulated a nice chunk of change in my investments without feeling like I was spending all of my money. I like how you can invest as little as you want on whatever timeframe works for you. I was able to set my preferences and then leave it alone and watch my balances go up. I have it automatically withdraw money from my bank account on pay days and it invests it for me, so I dont forget. Ive also taken advantage of the bank account they offer and put my weekly spending money on there so that as I am shopping, Im buying stocks as well. I turned on the round up feature but they also give you minuscule amounts of stocks just for using your card. They have information available to help ensure you are diversifying your investments, too. This app is super easy for new investors or anyone who doesnt have a lot of money to invest. I did get really excited about how I was finally able to build up money in some investments, that I downloaded another app that is supposed to be investing for stock bits but the other app was not as user friendly, in my opinion as I am still learning about investing. I recommend this app to all of my friends . Good luck on your investments!
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Compare The Best Investment Apps
| Company | |||
|---|---|---|---|
| $0 per trade, 0.25% per year | Traditional brokerage, retirement, education | ||
| $0 for stocks, ETFs, and mutual funds | Traditional brokerage, retirement, education | ||
| Varies – None to 0.85 cent per share | Traditional brokerage, IRA | ||
| Tastyworks | $0 | None for stocks or ETFs $1 per options contract to open , none to close $1.25 per contract for futures 1% for crypto | Traditional brokerage, retirement |
What Investments Can You Buy With Free Trading Apps
The free trading apps listed here will let you buy stocks, but the actual investment universe available depends on the particular app. For example, some of the apps allow trading in over-the-counter stocks, while others don’t. Some allow you to buy stocks directly on foreign stock markets in addition to U.S. exchanges. And some offer the ability to buy and sell options and mutual funds, while others are limited to only stock trading.
In addition, some of these apps offer automated investing or robo-advisory services, which essentially create and maintain an investment portfolio for you. The bottom line is that investment selection varies from one trading app to another and should certainly be a factor when deciding which to use.
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Webull: Best Stock Trading App For Intermediate Traders
- Available via desktop, Apple iOS and Android App on Google Play
- Best For: Self-directed investors and intermediate traders
Webull first hit the investing world in 2018 by offering free stock trading in addition to free trades of ETFs, options and cryptocurrencies.
The company provides you the ability to trade on your smartphone, tablet or desktop, track your stocks and charges no commissions for the trades you make in your portfolio.
It also recently began allowing fractional shares for you to buy smaller portions of stocks with higher share prices.
Td Ameritrade: Best Trading App Overall
Why: TD Ameritrade has stellar online trading platforms for both experienced and new investors. Both online trading apps include strong research and customer support. With all of its features, TD Ameritrade continues to be a low-cost option for investors.
What is TD Ameritrade:
TD Ameritrade has been in business since 1975, then as First Omaha Securities. Charles Schwab recently acquired it in 2020, but TD Ameritrade is still operating as its own entity. This is all worth mentioning because it lets you know TD Ameritrade has the kind of history and name recognition important to some investors.
All of that aside, TD Ameritrade has a lot to offer investors, including the full range of investments from stocks, ETFs, futures, forex, bitcoin, and IPOs. You can self-direct or opt for a managed portfolio. Theres no account minimum, and most casual investors will incur minimal costs because there are $0 commission trades on ETFs, stocks, and over 4,000 no-transaction-fee mutual funds.
TD Ameritrade has two different online trading apps TD Ameritrade mobile app and thinkorswim. Thinkorswim is for serious traders with technical analysis tools, customizable screeners, backtesting capabilities, and more. The main app includes research from Morningstar, Thomson Reuters, and CRFA, plus screeners and a tool for tracking capital gain and losses for tax season.
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Which Is The Safest Investment App For Beginners
The safest investment app for beginners is a difficult question to answer, however, there are some points to consider about safety:
If youre in doubt, contact customer services on the app or website first and enquire about safety.
Stash: Best For Newbies
Stash is an entry-level investment app that allows you to make investments from just $5. The platform is great if youre just starting out in the investment space and want to ease your way into investing. Although Stash gives you the option of choosing your own investments, you can also choose a portfolio based on an investment theme.
We also like the apps auto-stash option, which allows you to reinvest dividends automatically. Stash is also perfect for newbies because of its extensive educational content. The content provides simple explanations of key investment terms and strategies.
Fees: Stash offers three main account tiers, each of which comes with a monthly fee. If youre just looking for the basics, then youll pay $1 per month. The highest tier at $9 per month, offers a number of account features, such as a metal debit card, investment accounts for your kids, and a monthly market insights report. Regardless of which option you go with, Stash does not charge any fees or commissions on stock trades, although you will need to pay a management fee on ETFs.
Pros
- Monthly fees from just $1
- No fees or commissions on stock trades
Cons
To learn more about Stash, see our full Stash Review article.
Summary
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