Spaceship Investment App

AndyRates on 16/05/2018 - 18:41
Last edited 17/05/2018 - 09:16 by 1 other user

Hi all,

What do you think about this new app which invests in global and aussie stocks

It is offering no fees for balances under $5000

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Comments

  • [Deactivated] on 16/05/2018 - 19:15
    +1

    Fees of 5 to 10 bps is not low for a passive index fund. The hostplus balanced index fund charges 2bps.

    But it does open up passive index investing to low balances, and outside super, which would be positive.

    But I have some general wariness of such new players

    https://www.businessinsider.com.au/millennial-super-fund-spa…

    • MercSal on 16/05/2018 - 19:18
      +2

      Yeah, Spaceships whole offering (super as well) is about overcharging for passive index funds.

      • TimApple on 17/05/2018 - 16:01
        +1

        I guess we can take advantage of it by just putting $4,500 on it, and taking it out and moving it to regular ETFs when it reaches around $7,000.

        • NoDiggerty on 26/05/2018 - 23:01

          Why at 7K? Wouldn't you just withdraw to keep it below 5K so you dont pay a fee?

  • bobbified on 16/05/2018 - 22:00
    +4

    "Spaceship"? I have trouble taking that name seriously! lol

  • rambutann on 16/05/2018 - 22:59
    +4

    so is this similar to acorns/raiz?

    Does anyone have any reviews? I thought they only did super..

    • aragornelessar on 17/05/2018 - 00:13
      +3

      Apparently they've just released a non-super offering via app only.
      Acorns/Raiz has the 'feature' of round ups… I think Spaceship's investment hook is no fees for under $5k.

      • rambutann on 18/05/2018 - 16:09
        +2

        I've signed up.. lets see how it goes in comparison to Raiz/Acorns.

  • vince088 on 21/05/2018 - 23:43
    +2

    anyone signed up? whats the returns like? paid daily, weekly, monthly?

    • rambutann on 23/05/2018 - 17:07
      +1

      A couple of days in review.

      Its like Acorns but it doesnt seem to be 'live' data - you cant really tell where your money is sitting.
      App crashes quite a bit, its okay. I would recomend Raiz/Acorns over it any day of the week.

      You will see your balance updated every day - Acorns is 20 minutes delayed so its basically live.

      • AssociatedAbiFromSpaceship @ Spaceship on 24/05/2018 - 10:25

        Hey Rambutann,

        Would you be able to email us ([email protected]) with what device you're using so we can try to fix your crash issue?

        Cheers!

  • NoDiggerty on 22/05/2018 - 02:12
    +1

    I'm suss on no fees at all for balances under 5K…
    Surely there's a catch here…

    • AssociatedAbiFromSpaceship @ Spaceship on 24/05/2018 - 10:28
      +1

      No catch, feel check out our PDSs (Index: https://www.spaceshipinvest.com.au/assets/Spaceship-Index-Po…, Universe: https://www.spaceshipinvest.com.au/assets/Spaceship-Universe…) and reference guide (https://www.spaceshipinvest.com.au/assets/Spaceship-Voyager-…) to see that we're not hiding anything.

      • Ven0m on 01/06/2018 - 10:59
        +1

        Hi, just wary based on above comments about how we know how much the current investment is valued at? Is this displayed in the app, how often is the value updated? Is there any performance data yet? Thanks.

        • Ven0m on 01/06/2018 - 15:08
          +1

          FYI to any who are interested, got this response after querying:

          Since the fund has only been up and running for about a month, we do not have enough data to collate accurate performance features. We believe that we have it would be deceiving to our customer base to provide the performance figures to date.

          However we'll be happy to share the performance of the fund as soon as we have been up and running for a few more weeks.

          Other than lower fees, the key benefit of investing in the Spaceship Universe portfolio is that you are investing where the world is going. We believe that our Where the World is Going methodology adds value to a traditional index investing approach by identifying and selecting innovative companies that have the potential to outperform the broader market.

          And if you are looking for diversification with a single investment, the Spaceship index portfolio provides a simple way to get access to a portfolio of the largest 100 listed Australian shares and 100 listed global shares by market capitalisation.

          Our engineering team are looking to at adding some comprehensive performance features over the next few app updates.

    • hayfeverman on 31/10/2018 - 08:15
      +1

      I've found a potential catch… granted it is anecdotal.

      On three withdrawals, each time the balance was net positive (e.g. I had $25 invested and it was sitting at $25.30 or so), but in each and every case I ended up with less than my initial investment ($25.00) in my bank account.

      The withdrawal itself takes a full 2-3 business days (some places say this to cover their ass, but this one really means it) and I wonder whether it is taking all of that time to find the worst point of the market it can use to justify the sale price of your units and bank the spread.

      But I haven't really been able to figure out the logic of why I've always ended up with less, which speaks to the opaqueness of the system. Can't click on the transaction to understand unit price, and I can't easily find historical unit prices on the app. It's a few cents so I didn't do heavy DD but be warned for investing greater amounts than the referral bonus…

      • w37hsyea on 10/12/2019 - 15:54

        I am curious to know why this is the case

  • vince088 on 24/05/2018 - 21:07
    -4

    i went into Crypto and it crashed.

    will this app help me get my Lambo?

  • tightm8 on 29/05/2018 - 16:37
    +3

    Installed and whacked in $100 a week ago, the app has literally nothing on your performance other than ytd return on the front page, then has news about mainly US businesses… not a great deal on 'YOUR' investment. No details on transactions, how many units you hold etc.

    • AssociatedAbiFromSpaceship @ Spaceship on 06/06/2018 - 18:40
      +1

      Sorry to hear the app is missing some features you expect. We're working on adding a chart that shows your historical performance and more details around transactions i.e. how many units you hold.

      Feel free to reach out to our support team via [email protected] and they'll be happy to fill you in on all those details.

      Cheers!

  • DaTa on 16/06/2018 - 14:26
    +2

    Got a better return on this app than a bank account lol

  • jwsc on 20/06/2018 - 23:09
    +3

    they have added a referral program
    ozbargain's random referral link is below:
    https://ozbargain.com.au/deals/spaceshipinvest.com.au

    • JujuTT on 24/06/2018 - 13:00
      +1

      Hello,
      I am about to register to SpaceShip VOyager and give it a try.
      I am looking for a referral so we can both win from it.
      Keen to share yours with me?
      Thanks

  • Kochigachi on 28/02/2019 - 14:19

    Question is, are they safe?

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