Home Best Micro-Investing Apps Australia – Top Apps for Beginners Revealed

Micro investing apps are getting more and more popular with Australians who wish to access the financial markets with small stakes. Not only does this allow the average Joe to invest on a tight budget, but it also enables you to create a highly diversified portfolio of assets with ease.

If you’re interested in finding the best micro investing apps in Australia, this page reviews the top providers to consider in 2024.

In This Guide

Key Points on Stock Apps in Australia

  • The best micro investing apps let you deposit and invest small amounts of money directly into your trading account.
  • Trading platforms that provide micro investing apps make online trading more accessible for beginner traders.
  • eToro is the best micro investing app in Australia as it offers commission-free stock trading as well as fractional share trading.

68% of retail investor accounts lose money when trading CFDs with this provider.

Top Micro Investing Apps 2024

Don’t have time to read our guide in full and want to get started with the best micro investing apps Australia right now? Check out the list below to see which providers stand out from the crowd!

  1. eToroOverall Best Micro Investing App Australia – 0% Commission
  2. Vantage Markets – International Micro Investing App in Australia
  3. Trade Nation–  Easy-to-use Micro Investing App
  4. PepperstoneWorld Popular Micro Investing App
  5. Plus500 – Best Micro Investing App for Low-Cost Trades
  6. Pearler Passive Micro Investing App in Australia
  7. Raiz – User-Friendly Micro Investing App

 

You can scroll down to read a full review of each micro-investing app that made the cut.

Best Online Micro Investing Apps Reviewed

In choosing a micro investing app, your main priority is likely to be a provider that allows you to invest with small amounts. However, there are many other metrics that need to be considered too and possibly questions on your mind.

For example, how safe is the micro investing app, and does it support your preferred financial market? Do we have some of the best CFD trading apps on this list? How do I get started on micro investing?

To help clear the mist and answer your questions, below we review the best micro-investing apps Australia in 2024.

1. eToro – Overall Best Micro Investing App Australia

etoro logo

In reviewing dozens of providers, we found that the best micro investing app Australia is eToro, and in this detailed review, you’ll get to know why etoro is one of the best crypto apps to use in 2024.

This top-rated Australian stock app supports fractional ownership on all of its supported markets. In simple terms, this means that you no longer need to buy a full stock, cryptocurrency, or ETF.

On the contrary, Australians can now purchase just a ‘fraction’ of one asset. On the eToro app, this starts at just $25 when investing in cryptocurrencies, and this is applicable to crypto whales too. This means that you can buy Bitcoin and other expensive digital assets with really low stakes, or with as much as you want.

 

etoro micro investment app

 

This is particularly useful if you’re interested in tech stocks like Tesla, Amazon, or Google – many of which run into the thousands of dollars per stock. Irrespective of which asset you invest in on this top-rated micro investing app – you won’t pay a single cent in commission or ongoing fees. Instead, it’s just the spread that needs to be taking into account – which is the difference between the bid and ask price of your chosen asset. Did you know that eToro is one of the best share trading platforms Australia?

Read our in-depth guide for more details.

When it comes to safety, you’ll be pleased to know that eToro is authorized and regulated by the Australian Securities and Investments Commission (ASIC). The micro investing app is also licensed by the FCA and CySEC. You can easily get started with this top-rated trading app by depositing funds with an Australian debit card, credit card, e-wallet, or bank transfer.

You’ll pay a small FX fee on your deposit of 0.5%, but after that, you’ll be able to enjoy a truly commission-free trading experience. Still not convinced about the eToro investment app? Read our comprehensive eToro app review to find out more about what this app offers

Pros:

  • Regulated by the FCA, CySEC, and ASIC
  • Trusted brand with over 17 million client accounts worldwide
  • Buy stocks without paying any commission or share dealing charges
  • Social and copy trading
  • Buy stocks or trade CFDs with leverage
  • 2,400+ stocks listed on multiple international markets
  • Personalised eToro account where you can set up trading price alerts

Cons

  • Not suitable to perform technical analysis with indicators like the MACD

68% of retail investor accounts lose money when trading CFDs with this provider.

2. Vantage Markets – International Micro Investing App in Australia vantage logo

Vantage International Group Limited oversees Vantage F.X., which was founded in 2009. The broker offers various financial instruments such as currency pairs, indices, energy, soft commodities, precious metals, cryptocurrencies, and stocks.

They are all regulated by the Cayman Islands Monetary Authority (CIMA). Over 130,000 active customer accounts are currently hosted within this online trading ecosystem.

While the minimum deposit for trading is high at $200, the broker charges no deposit fees, allowing customers to maximize their account balances. Various deposit methods are accepted for credit cards, debit cards, bank transfers, PayPal, Skrill, Union Pay, Neteller, SticPay, and BitWallet. Leverage can go up to 500:1, which is another attractive value proposition beyond funding.

vantage trading home page

 

Clients who fund their accounts with over $1,000 can access Vantage F.X.’s PRO Trader tools. More than 35,000 assets are tradable worldwide through these tools. Additionally, users have access to a premium economic calendar. Segregated accounts are also used to ensure the safety of all client funds.

Pros:

  • Tools and services that add value to trading
  • Spreads and commissions are very tight
  • An intuitive mobile app with a wide range of features
  • It is possible to invest in a variety of asset classes
  • Discounts and incentives are generous

Cons

Initial deposits are higher

Your Money is at Risk.

3. Trade Nation–  Easy-to-use Micro Investing App
trade nation logo

As a Forex and CFD trading broker, Trade Nation was established in 2014 under the name Core Spreads. The company’s name was changed to Trade Nation in 2019, offering commodities, metals, commodities, stocks, and bonds along with Forex, CFDs, indices, and indices.

In addition to offering services around the world, the broker operates local entities in the U.K., Australia, South Africa, and the Bahamas. Trade Nation provides comprehensive financial solutions to a wide range of clients worldwide.

tradenation site

Pros:

  • A fully regulated brokerage
  • Licenses and oversight are provided by ASIC and FCA
  • Withdrawals and deposits are free
  • Fixed spreads
  • MT4 trading platform
  • It is not necessary to make a minimum deposit

Cons

  • In terms of trading proposals and conditions, regulations vary
  • A 24/7 support service is not available
  • Offshore entities

Your Money is at Risk.

4. Pepperstone – World Popular Micro Investing App pepperstone logo

Among Pepperstone’s products are Forex and CFDs. It was founded in 2010 and enjoys a good reputation in Australia.

A pure intermediary, it does not have a dealing desk and operates based on a  NDD/STP model. There are no conflicts of interest between brokers and their clients (as with market makers) since brokers do not act as counterparties for trades placed by traders.

Pepperstone is regulated by the FCA of the UK, CySEC of Cyprus, and ASIC of Australia, among others. The trading platform supports various financial instruments, such as Forex currency pairs, cryptocurrencies, stock indices, precious metals, and energy contracts.

pepperstone website homepage

In addition, Pepperstone has relatively low spreads and does not restrict trading strategies (scalping, hedging, E.A.s, etc.).

Depending on your account type, you can use Metatrader (Pepperstone offers Metatrader 4 and Metatrader 5) or Trading View (the most basic account). The platform is widely known and popular among traders all over the world.

 

Pros:

  • Opening an account is easy and quick
  • The spreads and commissions are low
  • It is not necessary to make a minimum deposit
  • There are no inactivity fees

Cons

  • There are a limited number of assets that can be traded
  • There are no CFDs available on European stocks
  • It is not suitable for investment over the long term

Your Money is at Risk.

5. Plus500 – Best Micro Investing App for Low-Cost Trades plus 500 logo

In this Plus500 app review, you’ll see that as one of the most popular CFD brokers, Plus500 has disadvantages, such as being unable to invest in stocks or ETFs, but only in derivatives.

Scalable Capital and Freedom24 are good alternatives if you want to invest in real assets instead of CFDs. Spanish residents cannot trade CFDs since they are unregulated financial instruments.

plus 500 website homepage

Six students founded this Israeli CFD broker over a decade ago. There are thousands of customers at Plus500 today, and the company is even listed on the London Stock Exchange.

CFD traders with experience might find Plus500 appealing. Since Plus500 requires leverage, you must be comfortable with it. Leverage should be handled with caution if you are dealing with it.

Pros:

  • There are no commissions on buys and sells, and spreads are tight
  • Fast and reliable execution of orders
  • Real-time quotes and advanced analytical tools
  • Leverage up to 1:30
  • There is an unlimited and free demo available
  • Analyzing tools for advanced users
  • Fast and secure withdrawals

Cons

  • It is not possible to own actual assets or have shareholder rights when trading CFDs
  • Corporations and businesses cannot open trading accounts
  • There are no social trading features

Your Money is at Risk.

6. Pearler – Passive Micro Investing App in Australia

Pearler Micro, launched in 2022, has swiftly emerged as a leading micro-investing app, providing pearler logo Australians with a seamless way to invest through the Pearler Investors Fund.

Being among the top share trading platforms, with a minimum initial spend of just $5, users can access a diversified portfolio comprising eight ETFs, including options focused on Australian and US large-cap shares, as well as sustainable and ESG-focused ETFs.

Offering automation features such as weekly or monthly investments and round-up capabilities, Pearler Micro stands out for its user-friendly approach. Notably, fractional units are allocated for amounts that don’t cover the cost of a whole unit.

The platform’s commitment to passive investing is reflected in its no-brokerage-fee model, with a small monthly fee applicable for account balances of $100 or more.

pearler website homepage

 

This cost-effective tool, devoid of gimmicks, emphasizes educating users on mastering the nuances of passive investing, making Pearler Micro an ideal choice for those seeking a straightforward and regulated micro-investment solution.

Pros:

  • Pearler Micro requires a minimum initial spend of $5, making it accessible for investors at various levels.
  • Passive Investing Focus
  • The app offers eight diversified investment options, allowing users to choose from various ETFs based on their preferences.
  •  Investors can automate weekly or monthly investments with a minimum of $5

Cons

  • Users with account balances over $100 are subject to a monthly fee.
  • Pearler Micro does not distribute returns; instead, all returns are automatically reinvested to grow the investment.

7. Raiz – User-Friendly Micro Investing App

This is a user-friendly micro-investing app that transforms your spare change into a diversified investment portfolio. With nine portfolios catering to different risk preferences, users can effortlessly set up recurring payments or make raiz logo lump-sum installments.

What sets Raiz apart is its commitment to security and legitimacy. Raiz ensures compliance and accountability and this is because its an ASX-listed company with an Australian Financial Services License overseen by ASIC.

Perpetual Corporate Trust Limited, an independent custodian, manages funds held in Raiz accounts, offering an additional layer of security.

Raiz’s popularity, especially among millennials, is attributed to its seamless approach, which allows users to invest modest amounts without disrupting their lifestyle.

raiz website homepage

Whether you’re a novice or an experienced investor, Raiz provides a trustworthy platform to start your investment journey, emphasizing the importance of time in the market over timing the market.

 

Pros:

  • Users can choose from pre-set portfolios or create custom portfolios with different ETFs.
  • The platform includes an ethical investment option for users who prioritize socially responsible investing.
  • Regulatory Compliance.
  • Raiz’s round-up feature automates contributions.

Cons

  • Users may find the advertising on the app to be annoying or intrusive.
  • Raiz’s read-only access to bank accounts and the potential sale of aggregated purchasing data raise privacy concerns.

For a quick glance through all that has been discussed, see the table below;

AppOverviewFees
etoroCommission-free trading on various assets. Supports fractional ownership starting at $25.No commission or ongoing fees; small spread.
Vantage MarketsOverseen by Vantage International Group. Offers various financial instruments. Regulated by CIMA.No deposit fees; minimum deposit $200. Leverage up to 500:1.
Trade NationEstablished in 2014, offering Forex and CFD trading. Regulated by ASIC and FCA.No minimum deposit.
PepperstoneFounded in 2010, known for Forex and CFDs. Regulated by FCA, CySEC, and ASIC.No minimum deposit.
Plus500Established over a decade ago, popular for CFD trading. Offers leverage up to 1:30.No commissions on buys and sells, tight spreads.
Pearler MicroLaunched in 2022, provides micro-investing through the Pearler Investors Fund. Minimum initial spend of $5.Small monthly fee for balances over $100.
RaizUser-friendly micro-investing app. Nine portfolios for different risk preferences. ASX-listed with ASIC oversight.Monthly fee for account balances over $100.

 

Micro Investing Apps Explained

micro investing apps The main concept of micro-investing apps is that they allow the average Australian to access the financial markets in a low-cost and burden-free way.

In other words, the barriers often found at traditional brokerage platforms – such as account minimums and high fees – are removed. Instead, the best micro-investing apps in Australia allows you to invest in the financial markets with really small stakes.

For example, our top-rated provider eToro supports fractional shares, meaning that you don’t need to buy a full stock. Instead, as long as you meet a small minimum purchase of $50 – you can invest as little as you like.

In some cases, micro-investing apps in Australia allow you to round up your debit/credit card transactions. For example, you might spend $9.70 on a book and the app will round up the transaction to $10. The balance of $0.30 will then be added to your investment portfolio.

Is Micro-Investing a Good Idea?

Micro-investing is a good option for many investors due to its numerous benefits. Firstly, it provides an accessible entry point into the world of investing, especially when you get to use the best forex apps, allowing individuals to start with small amounts of money. This low barrier to entry enables those with limited financial resources to participate in the markets and build their wealth gradually.

Moreover, micro-investing platforms often offer fractional shares, enabling investors to own a portion of expensive stocks they might not be able to afford outright. This diversification potential is particularly appealing, as it allows investors to spread their risk across multiple investments.

Of course, as is advisable on any financial front, you must do your own research, as certain fears and uncertainties can cripple your growth and profitability in this space.

Micro-investing promotes regular saving and financial literacy by encouraging regular contributions. By automating small investments, individuals can develop a habit of saving and grow their investments over time.

While micro-investing offers several advantages, it is important to consider its potential drawbacks. One significant concern is the impact of transaction fees. Micro-investing platforms often charge fees for each transaction, and when investing small amounts, these fees can eat into returns and diminish the overall profitability of investments.

Additionally, the limited investment options available on micro-investing platforms may restrict investors’ ability to diversify their portfolios fully.

How to Choose the Best Micro Investing App in Australia for You

There are many micro-investing apps available to Australians in 2024. As we briefly noted earlier, you should never open an account with a provider just because they support micro-investments. Instead, there are many other metrics that you need to cross off before taking the plunge.

This includes:

Regulation

All of the best micro-investing apps Australia discussed on this page are authorized and regulated by ASIC. This means that you’ll be protected by several safeguards – such as client funds being held in segregated, tier-one bank accounts.

ASIC-regulated micro-investing apps must have strong financial stability, clearly display the risks associated with investing, and have their books audited on a regular basis.

Crucially, if you come across a micro-investing app that isn’t regulated by ASIC – avoid it.

Assets

One of the main drawbacks with micro-investing apps is that in the vast majority of cases – you won’t be able to pick and choose your own investments. Instead, platforms like Riaz, FirstStep, and Spaceship Voyager ask you to select a pre-packaged portfolio that is based on your financial goals and attitude to risk.

While this might suit those of you who wish to invest passively, such a strategy can be restrictive. For example, Riaz portfolios can contain as little as 4 ETFs, while Spaceship Voyager portfolios often contain many of the same stocks.

markets section in etoro app

 

This is why we much prefer eToro, which offers the best of both worlds. That is to say, you can elect to invest passively via a CopyPortfolio or by utilizing one of the best Copy Trading apps.

Also, if stocks are more your thing, being one of the best free stock apps out there, eToro allows you to invest from just $50 upwards.

The latter allows you to mirror a successful eToro trader like-for-like. Most importantly, eToro also allows you to pick and choose your own individual investments. This includes over 2,400 stocks from 17 exchanges, and although this app might not be among the best ETF apps, it has more than 250 ETFs, and 16 digital currencies to offer investors.

Fees

Even the best micro investing apps Australia charge fees. After all, they are in the business of making a profit. In some cases, micro investing apps charge a flat monthly fee.

For example, Raiz charges $2.50. But, the app also multiplies an annual fee of 0.275% against the amount you have invested.. Spaceship Voyager is very competitive in this respect, as you will only pay a fee when you invest more than $5,500.

Even then, the fee starts at just 0.05% per year. eToro goes one step further – as it charges no platform fees whatsoever. In fact, you won’t pay a commission when you buy or sell assets, either.

Other fees that you need to factor in include:

  • Deposit/Withdraw Fees
  • ETF Expense Ratio
  • Spreads
  • Early Redemption Fee

Ultimately, we found that the best micro investing apps Australia are very transparent about the fees they charge.

Tools and Features

When reviewing the best micro investing apps Australia, we came across a number of notable features that you might find of interest.

 

charts in etoro

This includes:

Debit Card Round-Up

Some micro investing apps allow you to round up your debit card transactions. As we covered earlier, this is a great way to invest your spare change into the financial markets. Although the specific amounts will be minute, this can quickly add up if you keep the round-up feature activate for several years.

Portfolio Rebalancing

The best micro investing apps Australia will take full control over your portfolio. This means that you can sit back and invest in a completely passive nature – not least because the provider will rebalance the assets in your portfolio on a regular basis.

Automated Investments

We also like micro investing apps in Australia that allow you to set up an automatic investment plan. For example, you might decide to invest $10 every Friday or $100 at the end of each month. Either way, app provider will automatically debit your account on your chosen date – and when invest the money into your chosen portfolio.

Savings Goals

A lot of micro invest apps will also allow you to set up specific savings goals. For example, you might be saving money towards a new car. By entering the amount you wish to save and the date you need to reach your target – the micro investing app will give you regular updates on your progress.

Device Compatibility

Micro investing apps are still relatively new in the Australian market. As such, you might find that a new provider will initially release their app on just one operating system.

In turn, you need to ensure that the app is compatible with your device. The good news is that all of the best micro investing apps discussed on this page are available on both iOS and Android phones.

Payments

In order to use a micro investing app, you will first need to make a deposit. Most of the apps that we came across support bank account transfer only. Some – such as those listed on this page, also accept debit card payments. In the case of our top-rated micro investing platform – eToro, you can also deposit and withdraw funds with an e-wallet like Paypal.

Customer Support

Baring in mind that micro investing apps are typically aimed at Australians with little to or no investment experience, you’d expect the provider to offer top-notch customer support.

Unfortunately, we came across a number of apps that allow offer support via email. This means that you might need to wait a couple of days before you receive a response to your query.

On the other hand, most of the micro investing apps that we have reviewed today offer an in-build Live Chat facility. This is great, as you speak with an advisor at any time.

The table below gives an overview of all factors considered;

ConsiderationDetails
RegulationASIC-regulated for client protection and financial stability.
AssetsPre-packaged portfolios based on financial goals and risk tolerance. Limited ability to pick individual investments.
FeesVarying fees, including monthly fees, annual fees (% of invested amount), and additional fees like deposit/withdrawal fees, ETF expense ratios, spreads, and early redemption fees. Transparent fee disclosure.
Tools and FeaturesDebit card round-up, portfolio rebalancing, automated investments, savings goals, device compatibility with iOS and Android.
Customer SupportVaries, with some apps offering live chat and others limited to email support.

 

How to Get Started with a Micro Investing App

If you think that micro investing apps mirror your financial goals and investment experience, we are now going to show you how to get started. The walkthrough below you show you how to get set up with our top-rated micro investing provider – eToro.

Step 1: Download and Install the eToro App

You will first need to visit the eToro website via your mobile web browser. Look out for the ‘Join Now; button to begin the account opening process.

create an account with etoro

 

Here, firstly, you will need to provide some personal information, including your name, home address, Australian Tax Identification Number, email, and mobile number.

Step 2: Download the eToro App

 

download etoro from playstore

 

 

 

Once you have opened an account, eToro will redirect you to the Google Play or Apple Store download page. This is the safest way to obtain the app, as you can be 100% sure you are downloading the official version and up-to-date version.

Step 3: Login and Deposit Funds

Once you have successfully installed the app, proceed by logging in with the username and password you chose in Step 1. Subsequently, you will need to make an initial deposit.. You can instantly deposit funds with your Australian debit/credit card or an e-wallet like Paypal. Another thing you can do is make a manual bank transfer, but this will take a few days for eToro to process.

Step 4: Make a Micro Investment

You are now ready to make some micro investments. As noted earlier, the minimum crypto investment is just $25, and stocks can be purchased for just $50. Most ETFs can also be invested in from just $50.

To find your chosen asset, use the search box at the top of the page. Then, click on the ‘Trade’ button to load up the order form.

 

 

chart overview on etoro

 

All you need to do here is enter the amount that you would like to invest – ensuring that they meet the minimum for the respective asset class.

Finally, click on the ‘Open Trade’ button to complete your commission-free micro investment!

The Verdict

No longer do you need to invest large amounts to gain access to the global stock markets. Instead, when using the best micro-investing apps in Australia, you can often get started with just a couple of dollars.. As we have discussed on this page, the best providers give you access to a broad range of markets at very competitive fees.

Are you looking to get started with the best micro-investing app in Australia right now? eToro is well worth considering. This ASIC-regulated app supports thousands of markets, allowing you to pick and choose the stocks or ETFs you wish to invest in. Additionally, it provides insights into the best crypto to buy. Moreover, this commission-free micro-investing app supports automated trading, enabling you to invest in a completely passive manner.

eToro – Overall Best Micro Investing App with 0% Commission

etoro logo

68% of retail investor accounts lose money when trading CFDs with this provider.

References

https://www.finra.org/investors/insights/micro-investing

https://corporatefinanceinstitute.com/resources/wealth-management/micro-investing-platform/

https://www.cnbc.com/2018/04/25/micro-investing-lets-you-build-wealth-a-few-dollars-at-a-time.html

https://www.cnbc.com/2012/05/15/how-to-get-it-right-with-charts.html

https://www.bloomberg.com/professional/blog/technical-indicators-point-to-growth-stocks-beating-value/

FAQs

What is the best micro-investing app Australia?

How do micro-investing apps work?

Are micro-investing apps worth it?

Are micro-investing apps in Australia legit?

What is the minimum micro investment?

Kane Pepi

Kane Pepi

Kane Pepi is a British researcher and writer that specializes in finance, financial crime, and blockchain technology. Now based in Malta, Kane writes for a number of platforms in the online domain. In particular, Kane is skilled at explaining complex financial subjects in a user-friendly manner. Kane has also written for websites such as MoneyCheck, the Motley Fool, InsideBitcoins, Blockonomi, Learnbonds, and the Malta Association of Compliance Officers.