Micro Investing comparison
Raiz Invest vs Vanguard Personal Investor
Raiz and Vanguard Personal Investor both let you invest small amounts regularly, but they go about it very differently. Raiz is a subscription-based micro-investing app that rounds up your spare change and auto-invests into pre-built ETF portfolios for $5.50/month. Vanguard Personal Investor is a full brokerage platform with zero monthly fees, $0 brokerage on Vanguard ETFs, and the ability to buy individual ASX shares — but it requires a $200 minimum to start.
Choose
Raiz Invest
if…
- ›You want to invest spare change automatically via round-ups from everyday purchases
- ›You're starting with as little as $5 and want a fully managed, pre-built portfolio
- ›You prefer a simple monthly subscription fee over per-trade brokerage costs
- ›You want fractional shares on ASX ETFs so every dollar is put to work
- ›You'd like a mobile-first experience with auto-rebalancing built into the plan
Choose
Vanguard Personal Investor
if…
- ›You want to buy individual ASX shares (not just ETFs) with $0 brokerage on Vanguard ETFs
- ›You want to avoid any monthly or annual platform fees entirely
- ›You need joint, company, or trust account options for broader investing structures
- ›You plan to invest larger lump sums and want Sharesight/Navexa integration for tax reporting
- ›You're comfortable with a $200 minimum start and prefer buying whole units of ETFs or shares
Where they differ
| Fact | Raiz Invest | Vanguard Personal Investor |
|---|---|---|
| Monthly platform fee | $5.50/month | $0/month |
| Minimum initial deposit | $5 | $200 |
| ASX direct shares | Not supported (ETFs only) | Supported ($9 brokerage) |
| Fractional shares (ASX) | Yes | No |
| Account types | Individual, SMSF, Kids | Individual, Joint, Company, Trust, SMSF, Kids |
Verdict
Choose Raiz for hands-off micro-investing with round-ups; choose Vanguard for fee-free ETF investing with full ASX share access.
All data points side-by-side
Every verified fact for both platforms. Differences are highlighted.
| Field | Raiz Invest | Vanguard Personal Investor |
|---|---|---|
| account structure | ||
| CHESS sponsorship model | custodian | custodian |
| Individual HIN | — | No |
| Individual account | Yes | Yes |
| Joint account | No | Yes |
| Company account | No | Yes |
| Trust account | No | Yes |
| SMSF account | Yes | Yes |
| Kids / minor account | Yes | Yes |
| asset coverage | ||
| ASX shares supported | No | Yes |
| ASX ETFs supported | Yes | Yes |
| US shares supported | No | No |
| US ETFs supported | No | No |
| Other markets supported | ||
| Fractional shares (ASX) | Yes | No |
| Fractional shares (US) | — | No |
| Options trading | No | No |
| CFDs supported | No | No |
| Managed funds | Yes | Yes |
| Bonds supported | No | No |
| IPO access | No | No |
| costs hidden | ||
| Market data fees | — | $0/month |
| Conditional order fees | — | $0 |
| Corporate action fees | — | Participation in voluntary corporate actions (rights issues, SPPs, takeovers) is NOT available through Vanguard Personal Investor for ETFs or direct shares - investors cannot participate. Mandatory corporate actions (e.g. dividends) flow through automatically. No corporate action fees disclosed. |
| costs visible | ||
| ASX brokerage minimum | — | $0 |
| ASX brokerage percentage | — | 0% |
| 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. | $0 brokerage on all buys of Vanguard ETFs (Vanguard managed funds incur no brokerage at all). $0 brokerage on Vanguard ETFs/funds purchased via Auto Invest. Sells of Vanguard ETFs incur $9 flat. ASX direct (non-Vanguard) shares: $9 flat both ways. |
| 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 | — | $0 |
| identity and trust | ||
| Legal entity name | Raiz Invest Australia Limited | Vanguard Investments Australia Ltd |
| AFSL number | 434,776 | 227,263 |
| Year founded | 2,016 | 2,020 |
| Parent / ownership | Raiz Invest Limited (ASX: RZI) — Australian publicly listed parent | The Vanguard Group, Inc. (US) - mutual structure owned by US-domiciled Vanguard fund investors |
| Country of incorporation | AU | AU |
| Public company status | public | private |
| money movement | ||
| Minimum initial deposit | $5 | $200 |
| Minimum subsequent purchase | $0 | $1 |
| Deposit methods | bank_transfer, debit_card, round_ups, recurring_direct_debit | BPAY, Direct credit (EFT), Direct debit |
| 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) |
| Withdrawal time | 3-5 business days (T+2 ASX settle, then 1-3 days bank transfer) | Up to 3 business days from processing date (processed same day if requested before 4pm AET) |
| 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 | SMS |
| Customer support channels | phone, email, in_app | Phone, Secure message (in-app) |
| Support hours (AU time) | Monday-Friday, 8:30am-5:30pm Sydney time | Monday to Friday, 8am to 6pm AET (phone) |
| Education content | basic articles | structured |
| tax and reporting | ||
| Australian tax statement | Yes | Yes |
| Distribution component breakdown | Yes | Yes |
| CGT calculator / report | Yes | Yes |
| Sharesight / Navexa integration | No | Yes |
| trading mechanics | ||
| Market orders | — | Yes |
| Limit orders | — | Yes |
| Stop loss orders | — | No |
| Conditional orders | — | No |
| Auto-invest / DCA | Yes | Yes |
| Auto-invest sophistication | weighted/rebalancing | multiple |
| DRP (dividend reinvestment) | No | No |
| After-hours / overnight trading | — | No |