Start investing your loose change with these micro-investing apps


  • Micro-investing apps allow you to enter the investing world with fewer funds.
  • There are a range of micro-investing apps available in Australia including Spaceship, Raiz and FirstStep.
  • With these apps, you have the option of setting up recurring deposits or depositing a lump some of money.

The whole point of micro-investing apps is to make it easy for you to invest.

Micro-investing apps allow you to save up small amounts of money which is then invested. They can help you grow a nest egg without even noticing it by rounding up transactions you make and putting that extra cash into investment options like exchange traded funds (ETFs).

They are a way of allowing you to enter the investing scene with smaller amounts of money.

You can also set up these apps to deduct money from your account in a lump sum or over a recurring period of time.

Here are some of the micro-investing apps currently available in Australia.

Launched in 2016, Spaceship received backing from the likes of Airtree as well as Mike Cannon-Brookes’ venture capital business, Grok Ventures.

There’s no minimum investment on Spaceship and you don’t pay a fee on your first $5000 – that includes no fees for contributing or withdrawing money. But once your balance is above $5000, there’s a 0.10% per annum fee for the Spaceship Universe Portfolio and 0.05% per annum fee for the Spaceship Origin portfolio.

With Spaceship, your cash is invested in shares of listed companies in both Australia and overseas.

You can also choose to invest money whenever you’d like or set up specific amounts to be deducted during a set period of time (say, weekly or monthly).

The popular micro-investing app, formerly known as Acorns, can deduct your spare cash and invest it.

There’s no minimum amount needed on Raiz but you need to have at least $5 for you to be able to invest into your chosen portfolio. There is a $2.50 fee if your account has less than $10,000 in it but once you go over that mark, you’re charged 0.275% a year.

However, if you have the Sapphire portfolio (which includes a mix of ETFs and Bitcoin), there’s a $2.50 a month, and 0.275% a year, fee.

Apart from Sapphire, there are six portfolios you can choose from made up of ETFs. These include conservative, moderately conservative, moderate, moderately aggressive, aggressive and, for those who prefer socially responsible investments, the Emerald portfolio.

You can either have your money rounded up, make a lump sum deposit or set up recurring deposits.

FirstStep is another micro-investing platform available, which launched in 2018. For accounts of $5,500 or less, it charges $1.25 a month and a $1.95 fee per month for direct debit. Once your account has more than $5,500, there’s a 0.275% a year fee.

If you’re a student, you can even get the service free for three months.

You can open an account with just $1, with your funds getting invested in a range of ETFs.

You can choose either a defensive, balanced or growth portfolio and within that, you can select the ‘theme’ (industry) such as health, technology, ethical or Asian listed companies.

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