Alternatives to Raiz Invest
Raiz Invest is best known for its round-up feature that lets you invest spare change into diversified ETF portfolios. It's a solid entry point for beginner investors, but its custodian model means you don't hold shares directly under your HIN, and the $5.50 monthly platform fee can eat into smaller balances. You also can't buy individual ASX or US shares. If you're after CHESS-sponsored ownership, lower fees, or the ability to pick your own stocks, there are several alternatives worth comparing. Here are six platforms to consider as a Raiz alternative.
CHESS-sponsored micro-investing with ASX trades from $2 and no monthly fee, unlike Raiz's custodian model.
- ASX brokerage minimum
- $2
- ASX ETFs supported
- Yes
- CHESS sponsorship model
- chess(Raiz Invest: custodian)
Zero brokerage on Vanguard ETFs and no platform fee, making it cheaper than Raiz for ETF investors.
- ASX brokerage minimum
- $0
- ASX ETFs supported
- Yes
- CHESS sponsorship model
- custodian
Buy fractional ASX and US shares from $1 with kids accounts and no monthly platform fee.
- ASX brokerage minimum
- $0
- ASX ETFs supported
- Yes
- CHESS sponsorship model
- custodian
CHESS-sponsored robo-advice with managed portfolios from $1,000 and a lower $1 monthly fee.
- ASX brokerage minimum
- $0
- ASX ETFs supported
- Yes
- CHESS sponsorship model
- chess(Raiz Invest: custodian)
US fractional shares with zero brokerage and a $3 monthly fee, for investors focused offshore.
- ASX brokerage minimum
- $0
- ASX ETFs supported
- No(Raiz Invest: Yes)
- CHESS sponsorship model
- custodian
CHESS-sponsored ASX trading from $1 plus zero-commission US shares, all with no monthly fee.
- ASX brokerage minimum
- $1
- ASX ETFs supported
- Yes
- CHESS sponsorship model
- chess(Raiz Invest: custodian)
Common questions
Can I transfer my Raiz portfolio to another platform without selling?
Raiz uses a custodian model, so your investments are held in Raiz's name, not your own HIN. This means you generally need to sell your holdings and withdraw the cash, then reinvest on the new platform. Some platforms may accept in-specie transfers, but it's not always straightforward with custodian-held accounts.
Are there Raiz alternatives with CHESS sponsorship?
Yes. Several micro-investing and brokerage platforms offer CHESS sponsorship, meaning shares are held in your own name under your HIN. This gives you direct ownership and easier transfer between brokers. Options include platforms that offer managed portfolios as well as those that let you pick individual stocks.
What are the cheapest Raiz alternatives for small balances?
Platforms with no monthly fee and low or zero brokerage are best for small balances. Some charge zero brokerage on certain ETFs or have minimum trade amounts as low as $1. Compare the total cost including any monthly fees, brokerage, and whether the platform charges a percentage or flat fee per trade.
Do any Raiz alternatives offer both micro-investing and direct share ownership?
Yes. Some platforms let you buy fractional shares from as little as $1 while also giving you the option to purchase whole shares directly. This combines the convenience of micro-investing with the flexibility of owning individual companies, all without the monthly platform fee that Raiz charges.