Micro Investing comparison
Raiz Invest vs Sharesies
Raiz is a subscription-based managed fund that invests your money into pre-built ETF portfolios, while Sharesies is a full brokerage that lets you pick individual ASX, US and NZ shares and ETFs. The biggest practical difference: Raiz bundles everything into a flat $5.50/month fee, whereas Sharesies charges 1.9% per trade (capped at $6) unless you prepay with a monthly plan. One is set-and-forget; the other is pick-your-own.
Choose
Raiz Invest
if…
- ›You want a completely hands-off investing experience where Raiz manages the portfolio and rebalances automatically
- ›You want to invest small amounts frequently — round-ups, recurring deposits, and zero extra fees per transaction
- ›You need an SMSF account or a simple way to invest for a minor without opening a separate brokerage
- ›You dislike per-trade costs and prefer a predictable monthly subscription that covers all ASX ETF trading
Choose
Sharesies
if…
- ›You want to buy and sell individual ASX shares, US stocks, or NZ stocks — not just managed ETF portfolios
- ›You want direct US shares and US ETFs with fractional trading, plus a USD account to hold currency
- ›You want more trading control — limit orders, stop losses, conditional orders, and after-hours trading
- ›You want dividend reinvestment (DRP) on your holdings, which Raiz doesn't offer
- ›You prefer pay-as-you-go pricing or a low monthly plan ($5/mo) rather than a flat $5.50/mo fee regardless of activity
Where they differ
| Fact | Raiz Invest | Sharesies |
|---|---|---|
| Fee model | $5.50/month flat (no per-trade costs) | 1.9% per trade (capped at $6) or monthly plans from $5/mo |
| Investment type | Managed ETF portfolios only | Individual ASX, US & NZ shares, ETFs, and fractional shares |
| US stocks | Not supported | Supported (with USD account and fractional shares) |
| CHESS sponsorship | Custodian (no HIN) | Custodian (no HIN) |
| Minimum to start | $5 | $1 |
Verdict
Pick Raiz for effortless, hands-off ETF investing; pick Sharesies if you want to choose your own stocks and markets.
All data points side-by-side
Every verified fact for both platforms. Differences are highlighted.
| Field | Raiz Invest | Sharesies |
|---|---|---|
| account structure | ||
| CHESS sponsorship model | custodian | custodian |
| Individual HIN | — | No |
| Individual account | Yes | Yes |
| Joint account | No | No |
| Company account | No | No |
| Trust account | No | No |
| SMSF account | Yes | No |
| Kids / minor account | Yes | Yes |
| asset coverage | ||
| ASX shares supported | No | Yes |
| ASX ETFs supported | Yes | Yes |
| US shares supported | No | Yes |
| US ETFs supported | No | Yes |
| Other markets supported | NZ | |
| Fractional shares (ASX) | Yes | Yes |
| Fractional shares (US) | — | Yes |
| Options trading | No | No |
| CFDs supported | No | No |
| Managed funds | Yes | No |
| Bonds supported | No | No |
| IPO access | No | No |
| costs hidden | ||
| FX spread (AUD/USD) | — | 0.6% |
| FX spread (other currencies) | — | 0.6% |
| Holds USD account | — | Yes |
| FX currency switch trick | — | No |
| Market data fees | — | $0/month |
| Conditional order fees | — | $0 |
| Corporate action fees | — | No fee for receiving DRP shares ('You don't pay a Sharesies transaction fee when you receive shares through a DRP'). Sharesies handles corporate actions via the Voting & Corporate Actions Policy; specific fees for rights issues, SPP, takeovers not separately listed in pricing schedule. |
| costs visible | ||
| ASX brokerage minimum | — | $0 |
| ASX brokerage percentage | — | 1.9% |
| ASX brokerage threshold | — | $315.79 |
| ASX free trade conditions | Brokerage free across all plans — bulk ASX execution is bundled into the monthly subscription / management fee. No fees on deposits, withdrawals, or portfolio switches. | Pay-as-you-go: 1.9% per buy/sell order, capped at AU$6 for ASX, US$5 for US, NZ$25 for NZ. Monthly plans cover transaction fees on a set volume: $5/mo plan ($54/yr) covers $500 AUD buy/sell + $1,000 AUD auto-invest; $10/mo plan ($108/yr) covers $1,000 AUD buy/sell + $3,000 AUD auto-invest; $20/mo plan ($216/yr) covers $3,000 AUD buy/sell + $8,000 AUD auto-invest. Kids plan $2/mo covers $500 buy/sell + $1,000 auto-invest. Once monthly cover used up, pay-as-you-go applies. No truly free trade option. |
| US brokerage minimum | — | US$0 |
| US brokerage percentage | — | 1.9% |
| Monthly platform fee | $5.5/month | $0/month |
| Annual platform fee | $66/year | $0/year |
| Inactivity fee | $0 | $0 |
| Withdrawal fee (AUD) | $0 | $0 |
| Off-market transfer fee | — | $50 |
| identity and trust | ||
| Legal entity name | Raiz Invest Australia Limited | Sharesies Australia Limited |
| AFSL number | 434,776 | 529,893 |
| Year founded | 2,016 | 2,021 |
| Parent / ownership | Raiz Invest Limited (ASX: RZI) — Australian publicly listed parent | Sharesies Group Limited (New Zealand) |
| Country of incorporation | AU | AU |
| Public company status | public | private |
| money movement | ||
| Minimum initial deposit | $5 | $1 |
| Minimum subsequent purchase | $0 | $1 |
| Deposit methods | bank_transfer, debit_card, round_ups, recurring_direct_debit | PayID, OSKO, direct credit, card |
| Settlement period | T+2 (ASX) — applies to fund trading via the underlying ETFs; member contribution settles in ~1-2 business days into the fund. | T+2 ASX/NZX, T+1 US |
| Withdrawal time | 3-5 business days (T+2 ASX settle, then 1-3 days bank transfer) | 1-2 business days for settled funds; longer if recently sold (T+2 settlement plus 1-2 days reconciliation plus 1-2 days bank transfer) |
| platform ux | ||
| iOS app | Yes | Yes |
| Android app | Yes | Yes |
| Desktop platform | No | No |
| Demo account | No | No |
| Free real-time market data | No | No |
| Free research reports | No | No |
| 2FA support | SMS | authenticator_app |
| Customer support channels | phone, email, in_app | email, in_app |
| Support hours (AU time) | Monday-Friday, 8:30am-5:30pm Sydney time | Monday to Friday, 6 AM to 4 PM AEST |
| Education content | basic articles | basic_articles |
| tax and reporting | ||
| Australian tax statement | Yes | Yes |
| Distribution component breakdown | Yes | Yes |
| CGT calculator / report | Yes | Yes |
| Sharesight / Navexa integration | No | No |
| trading mechanics | ||
| Market orders | — | Yes |
| Limit orders | — | Yes |
| Stop loss orders | — | Yes |
| Conditional orders | — | Yes |
| Auto-invest / DCA | Yes | Yes |
| Auto-invest sophistication | weighted/rebalancing | multiple_assets |
| DRP (dividend reinvestment) | No | Yes |
| After-hours / overnight trading | — | Yes |