Commsec pocket review
Commsec pocket is a micro investment app released by the biggest broker in Australia – Commsec. You can start investing with as little as $50, but pay $2 brokerage per investment. This investment app allows auto-investing, setting up a direct debit for a certain amount each month. This is an incredibly powerful tool for building an investing habit and building wealth. With the brokerage fees involved, you likely want to invest at least $500 at a time.
Commsec pocket only allows investment in 7 themed ETFs. This narrows down the options wonderfully for overwhelmed beginners, and I think is a positive.
Commsec pocket is a good way to get started investing when you’re not quite sure where to start but have at least $500 per month to get started. Those with less copious spare cash may prefer RAIZ, which is brokerage fee free but charges a management fee. This is relatively expensive with less than $5000 invested. BUT, RAIZ offers a rewards program where you can get your rewards from online shopping invested. I found this fairly easy, by remembering to purchase through the RAIZ app. I found I could “earn” equivalent of the management fee fairly easily using rewards. By the time the fee was not covered, I was ready to move on to a full brokerage account with $30,000 invested.