Robo Advisor comparison
OpenInvest vs Stockspot
OpenInvest and Stockspot are both Australian robo-advice platforms, but they serve very different investors. OpenInvest requires a $20,000 minimum and charges a $7/month platform fee on top of management fees, targeting serious accumulators. Stockspot asks for just $1,000 to start and charges a $1/month platform fee, making it far more accessible for beginners or smaller portfolios.
Choose
OpenInvest
if…
- ›You have at least $20,000 to invest and want a managed portfolio that includes direct bonds and managed funds alongside ETFs
- ›You want a platform that offers company, trust and SMSF account structures from the get-go
- ›You value structured education content and a longer support window (8am–6pm AET) for guidance
- ›You're comfortable with a custodian model and don't need CHESS-sponsored individual HINs
Choose
Stockspot
if…
- ›You're starting with a smaller amount — Stockspot's $1,000 minimum is far more approachable than OpenInvest's $20,000
- ›You want CHESS sponsorship so your ETF holdings are directly registered on the ASX in your name
- ›You want a mobile app (iOS and Android) to check your portfolio on the go
- ›You want automatic dividend reinvestment (DRP) included at no extra cost
- ›You prefer a lower platform fee — $1/month versus $7/month — especially while your balance is growing
Where they differ
| Fact | OpenInvest | Stockspot |
|---|---|---|
| Minimum initial deposit | $20,000 | $1,000 |
| Monthly platform fee | $7/month | $1/month |
| CHESS sponsorship | Custodian model (no individual HIN) | CHESS-sponsored (individual HIN) |
| Mobile app | No mobile app | iOS and Android apps available |
| Asset range | ASX ETFs, managed funds, bonds | ASX ETFs only |
Verdict
Choose OpenInvest for larger portfolios wanting bonds and managed funds; choose Stockspot for lower fees, CHESS ownership and a lower entry point.
All data points side-by-side
Every verified fact for both platforms. Differences are highlighted.
| Field | OpenInvest | Stockspot |
|---|---|---|
| account structure | ||
| CHESS sponsorship model | custodian | chess |
| Individual HIN | No | — |
| Individual account | Yes | Yes |
| Joint account | Yes | Yes |
| Company account | Yes | Yes |
| Trust account | Yes | Yes |
| SMSF account | Yes | Yes |
| Kids / minor account | — | Yes |
| asset coverage | ||
| ASX shares supported | Yes | No |
| ASX ETFs supported | Yes | Yes |
| US shares supported | No | No |
| US ETFs supported | No | No |
| Other markets supported | — | |
| Fractional shares (ASX) | No | No |
| Fractional shares (US) | No | — |
| Options trading | No | No |
| CFDs supported | No | No |
| Managed funds | Yes | No |
| Bonds supported | Yes | No |
| IPO access | No | No |
| costs hidden | ||
| Holds USD account | — | No |
| Market data fees | — | $0/month |
| Corporate action fees | — | Corporate actions (DRP, dividends, distributions) are handled automatically and included in the management fee. No separate corporate action fees disclosed. |
| costs visible | ||
| ASX brokerage minimum | — | $0 |
| ASX free trade conditions | — | No brokerage charged at all - all trades (rebalancing, buys, sells) included in the all-inclusive monthly management fee. |
| Monthly platform fee | $7/month | $1/month |
| Annual platform fee | — | $12/year |
| Withdrawal fee (AUD) | — | $0 |
| identity and trust | ||
| Legal entity name | OpenInvest Limited | Stockspot Pty Ltd |
| AFSL number | 504,155 | 536,082 |
| Year founded | 2,017 | 2,014 |
| Parent / ownership | Privately owned (founder-led) | Independent / privately held (founder Chris Brycki; shares common major shareholder with Global X Australia) |
| Country of incorporation | AU | AU |
| Public company status | private | private |
| money movement | ||
| Minimum initial deposit | $20,000 | $1,000 |
| Minimum subsequent purchase | — | $500 |
| Deposit methods | — | Bank transfer (EFT), BPAY, Direct debit (recurring) |
| Settlement period | — | T+2 (ASX standard) |
| Withdrawal time | — | Typically 2-5 business days |
| platform ux | ||
| iOS app | No | Yes |
| Android app | No | Yes |
| Desktop platform | No | No |
| Demo account | No | No |
| Free research reports | — | No |
| 2FA support | — | authenticator-app |
| Customer support channels | phone, email | phone, email |
| Support hours (AU time) | 8:00am-6:00pm AET, business days | Monday-Friday 9am-5pm AEST |
| Education content | structured | structured-articles |
| tax and reporting | ||
| Australian tax statement | Yes | Yes |
| Distribution component breakdown | Yes | Yes |
| CGT calculator / report | Yes | Yes |
| Sharesight / Navexa integration | — | No |
| trading mechanics | ||
| Market orders | No | — |
| Limit orders | No | No |
| Stop loss orders | No | No |
| Auto-invest / DCA | Yes | Yes |
| Auto-invest sophistication | rebalancing | weighted-rebalancing |
| DRP (dividend reinvestment) | No | Yes |
| After-hours / overnight trading | — | No |