Commsec Pocket app vs Raiz vs StockSpot
A quick video comparing the cost of trading with Commsec pocket vs Raiz vs Stockspot.
Commsec among brokers is what apple-like among smartphones, they have the most expensive brokerage fee of all full serviced brokers, considering themselves as a premium brand when it comes to brokers.
While new low-cost brokers like Self Wealth are coming as a cheaper alternative, their commission for a full-fledged broker has remained the same for 10 or more years. When you compare Commsec with other 3 other big banks (ANZ, NAB and Westpac) they still stand out with their fees
When they launched the Commsec pocket app they aren't competing with other micro-investing apps like Raiz and Stockspot, they stand out with their own brand pride.
Now, it’s logical that we compare the Commsec Pocket fees with RAIZ and Stockspot.
While we can't compare the return on investments (ROI) between Commsec, RAIZ and Stockspot but we can easily look at the cost of investing through these apps.
These apps do have a different dimension when it comes to investing.
With Commsec Pocket you can start investing at $50. Whereas RAIZ connects to your bank account and rounds off your transactions for your portfolio. You can configure your portfolio type based on your risk appetite, but the end of the day it invests in ETF's as well, it doesn't invest in individual shares.
Stockspot is a bit different, you need to transfer a minimum $1000 when you decide to transfer. They will manage the portfolio based on your risk selection. Their PDS document doesn't reveal what they invest, this is product is like a managed fund with low fees.
Monthly fee Transaction Fee Total
Commsec Pocket App $4 $2 $6
Raiz $2.5 $2.5
Stockspot $5.5 $5.5
Commission Fee Between Commsec Pocket, RAIZ and STOCKSPOT
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