Micro-investing apps can be an easy way for Australians to dip their toe into investing, but experts warn the platforms still pose a potential financial risk. 9News
Financial experts say there are advantages and disadvantages to the platforms and here, we break them down.What is the risk with micro-investing?Finance expert Mark Humphrey-Jenner says micro-investing apps pose the same risk as "the broader market".
"It's going to invest in an exchange-traded fund that will capture different things like the ASX 200."In that respect, it's no less risky than going to an online broker."Micro investing platforms still pose the same risk as investing in the broader market, experts say.Micro-investing platforms are marketed as an easy way to dip your toe into the investing world without a lot of financial experience.
Sally Tindall from financial comparison website RateCity said Australians should take some time before dipping their toe into micro-investing to make sure their finances are in good shape, they know their budget and understand their risk appetite. "It's better to set your own budget and be in control of investing instead of an app rounding up your coffee purchases."
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Advantages and disadvantages of micro investing platforms explainedMicro-investing apps can be an easy way for Australians to dip their toe into investing, but experts warn the platforms still pose a potential financial risk. 9News
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