NuWealth (formally Wombat) review – A simplified way to save and invest

Nuwealth is one of the cheaper options when it comes to saving tools and auto investing. In addition to ETFs, there is also access to a good range of high-value stocks, made accessible via Fractional shares are portions of shares (or ETFs) that are smaller than one whole share. They are designed to make ownership of large, expensive shares more accessible. fractional shares.

I admit that I was sceptical at first, but the app has won me over. For someone with little to no starting capital or experience, this presents a well-priced and easy-to-use option. Use the savings tools to build a pot, and then tap into the investments on offer. Fractional shares mean very little starting capital is required.

There are of course flaws. Investors should be aware of the 0.75% A foreign exchange (FX) fee is added to all trades involving foreign currencies. If you buy a stock that trades in US dollars, for example, and your home account is in GB pounds, you'll need to pay an FX fee.FX fee when buying overseas stocks. In addition, there is zero assistance in the way of helping new investors pick their investments or understand their risk profile. All the ETFs are thematic, which means you can invest in a theme such as food, or AI. However, it also means you can’t access a simple tracker fund.