Been hearing about this raiz thing from a few people, I have proper investments elsewhere that would make bigger returns, but curiosity got the better of me so thought I'll check it out and put a few bucks in for shits and giggles. Why not.
The main reason however was after looking up the retail partners I saw a couple I actually make large purchases from with my business. And so if they give back even a small percentage of those purchases that's pretty sweet. A percentage rewards from buying with my business being put back into a personal account on money already spent sounds pretty good to me.
I haven't done the rewards yet but hopefully soon. Also randomly picked one of you guys as a referral lol.
So my review over the week I've been using it.
Easy to use, transfers in are a bit slow, but not stupidly slow.
Rewards scheme is a good one.
Did some surveys for shits and giggles, made $5 from them lol but they take a month to show up apparently, so that's a bit slow.
The surveys are time consuming, be ok if you have free time to make a buck or two, not sure I'll bother again unless I'm bored and want to get even more bored. Lol
The round up I'd is good to get rid of some pocket change.
Really does suit a person who just wants to save a few bucks, it's not a get rich thing, but it's not promoting it self as a get rich thing, it's not even saying they give the biggest returns, so they are honest about modest returns, but for some one who doesn't have a great deal of savings this is a good idea to help some one save. So it's not for high rollers after big returns. But the returns are worth it and are better than bank interests.
The savings report is scary, I consider my self a thrifty person these days, and it's shocking when the ap shows you how much money you waste on shit you don't need, lol that is a good feature for people to see, it's a reality check, I like that feature, I thinking that in it self will be the biggest saving feature as having all your transactions itemised into categories and showing wastage is enough to scare a person into being a thirty bastard. You easily see what fat you can trim from the spendings you do.
So that feature is great.
The ap is easy to use, you don't need to be a stock market guru to understand it,
So it's user friendly, but the navigation around the ap takes a little getting used to but once you figure it out it's easy to remember where certain features are.
So all In All I rate it as a good beginners trading ap, I Didnt put a big lump of cash in the ap so I'll leave it at what I put in as a test on returns, I won't be withdrawing it as it's not a big sum of cash but also because the ap seems good enough to warrant leaving it there. But not good enough for a main form of investment for me so I won't be putting any More in other than some lose change or the rewards from the partners which is my motivation anyways.
The big winner is the rewards and the personal spending reports the ap offers. I think i will do better from the rewards program because Of buying some supplies with my business than what I will from stock returns due to amount of money I have in there isn't big, so for me the stock returns are a bit of icing on the cake as they are better than bank interest returns.
So I think it's worth doing for allot of people. On a modest $1850 investment.
So far in the week I've made roughly the following from much test run.
+$6 I've made on the stocks, lol but that could obviously go up and down depending on the market from when I started raise,
+$5 on the referral,
+$5 on surveys but that hasn't shown up yet as you can see in the picture.
Haven't used rewards yet but I'll be doing some shopping tonight. So will see how well that goes.
You would likely be best opening the account with a few hundred to a few grand if you can.
Aperently dividends are being paid out soon and they are automatically reinvested, I haven't done the maths on what they will be on $1850 I put in, so be interesting to see. I'll report back later
Hope this review helps
