Update September 2021: Sharesies have dropped the Monthly/Annual fee and have introduced transaction fees. This a a significant reason why I have moved investments elsewhere. Unfortunately support couldn’t recognise the issue in double dipping for a customer who has paid over the years to then also have to pay to withdraw investments. for smally investments, Sharesies is likely still a good platform ,but remember you’ll have to pay to get sell your investments.
Update: Sharesies now allow fractional shares which means the $5 minimum is now removed. This makes Sharesies pretty much zero barrier investing! Have been following Wellington company Sharesies for a little while now. They have a fairly unique offering to people who would normally find investing too hard or too unobtainable. Sharesies has a $5 minimum investment and (as of writing) zero fees for under $50 worth of investment. Followed up by a small $1.50 monthly fee with the option of paying $30 per year up-front. InvestNow has a minimum $50 monthly or $250 one-off investment minimum in comparison.
Sharesies has a pretty decent offering of both ETF and MF investments that range from US specific, global, European and New Zealand. The offering of ETF and $5 minimum (about the price of a decent NZ coffee) gives the young (and not so young) the opportunity to invest in top companies around the world.
Loving their regular easy to understand blog posts and have found their staff warm and friendly over their online support. Purists would (with validity) say you can invest in the same funds without the $1.50 monthly fee Sharesis adds, however for me the user friendly website (works nice on mobile) and the clear support and design make it worthwhile and unique.
Disclaimer: I’m not offering financial advice here, make your own choices, seek advice if you feel the need. Investment values raise and fall and common wisdom says investment is a long not a short term outlook.