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New ETF platform wants to encourage new investors
Just $50 is all an investor will need to buy exchange-traded funds on a recently unveiled micro-investment platform.
New ETF platform wants to encourage new investors
Just $50 is all an investor will need to buy exchange-traded funds on a recently unveiled micro-investment platform.
In an effort to attract new investors to the market, CommSec has launched a micro investing version of its trading product that it said will allow a much larger number of savvy investors the opportunity to buy exchange-traded funds.
Just 4 per cent of Australian adults place a trade online in the share market each year, according to CommSec, despite its own research noting that a much larger number would like to but find barriers to getting started too high.
For CommSec’s executive general manager, Richard Burns, making it easier for Australians to invest will encourage newer investors into the market.
“As Australia’s largest digital broker, we know that many people find investing in shares out of their reach or too complex. We’ve broken down those barriers by significantly reducing the amount needed to get started, reducing the cost of investing as well as simplifying choice,” said Mr Burns.
According to Commsec, its new app offers seven exchange-traded fund (ETFs) options for investors, who are able to invest as little as $50 per trade, with a $2 trade fee.
This figure is just one-tenth of the traditional $500, it was noted.
Micro-investors will be able to invest in the following markets:
- Aussie Top 200: IOZ iShares Core S&P/ASX 200 ETF
- Global 100: IOO iShares Global 100 ETF
- Emerging Markets: IEM iShares MSCI Emerging Markets ETF
- Aussie Dividends: SYI SPDR MSCI Australia Select High Dividend Yield Fund
- Tech Savvy: NDQ BetaShares NASDAQ 100 ETF
- Sustainability Leaders: ETHI BetaShares Global Sustainability Leaders ETF
- Health Wise: IXJ iShares Global Healthcare ETF
Commsec has a history of innovation in Australian stockbroking, Mr Burns said, highlighting the company as being the country’s first online broker back in 1997, and having launched “Australia’s first iPhone trading application, becoming the first broker to offer trading on a smartphone” in 2008.
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