The Commonwealth Bank of Australia operated online stockbroking firm Commonwealth Securities (CommSec) has launched an app for people who are \u201cnew to the share market and want a simpler investing experience\u201d.\nLike other investment apps, the \u2018CommSec Pocket\u2019 app allows users to buy units in an Exchange Traded Fund, whichare funds that trade on a stock exchange.\n \nUnlike shares, which represent an investment in just one company, an ETF represents an investment in a selection of companies and assets. The app offers seven \u2018themes\u2019 of ETFS; including Aussie Top 200, Emerging Markets, Tech Savvy and Sustainability Leaders.\n \n\u201cAs Australia\u2019s largest digital broker, we know that many people find investing in shares out of their reach or too complex. We\u2019ve broken down those barriers by significantly reducing the amount needed to get started, reducing the cost of investing as well as simplifying choice. CommSec Pocket makes diversified investment in the stock market a simple and affordable option for more Australians,\u201d said Richard Burns, executive general manager at CommSec.\n \nUsers can get started with $50, and pay $2 each time they invest or sell up to $1,000.\n \n\u201cCommSec Pocket is our latest innovation that will help empower more Australians to grow their wealth. We will continue to listen to our customers and find new ways to help all Australians access the opportunities the sharemarket can bring,\u201d Burns said.\nNo caption\nCBA claimed CommSec Pocket to be an Australian-first app, on account of being able to get started with as little as $50 and its automated investing feature.\nHowever, similar features are offered by other apps. Mobile micro-investing platform Raiz Invest allows users to start investing with just $5 as well as recurring deposits. Raiz also offers round-ups \u2013 the virtual change from spending transactions \u2013 to be automatically moved into investment accounts. Six diversified portfolios are available to choose from, on a scale from conservative to aggressive.\nAt last count earlier this month Raiz \u2013 which listed on the ASX last year \u2013 had 193,327 active customers.\nRival Spaceship Voyager was released in April 2018 and now manages money for over 39,000 customers. It too has no minimum investment, and offers a choice of two portfolios: an affordable index fund made up of 200 companies with large market capitalisations listed on the ASX and overseas stock exchanges, or another of securities hand selected by Spaceship\u2019s investment team.\nThere are different fees involved with all of the apps, including CommSec Pocket.\nOne of CommSec Pockets key advantages its integration with CBA\u2019s highly-rated CommBank app, where investments can be seen in-app alongside other accounts. Users must have a CommBank transaction account and a CommSec ID or NetBank ID to use the app.\nCurrently only four per cent of Australian adults place a trade online in the shares each year.\n\u201cMany more would like to, but feel the barriers to getting started are too high. CommSec Pocket aims to break down these barriers and empower savers to take the next step with their money and start investing,\u201d CBA said.