Pearler is a trading platform designed for individuals searching for long-term investment options to help them attain financial independence. It’s one of the most renowned set-and-forget investing platforms today.
Pearler distinguishes itself from its competitors by automating investing functionalities that take the stress off new investors. For example, it can automatically trade on US or ASX listed shares, LICs, or ETFs.
With all of that buzz around, let’s confirm whether Pearler is an excellent choice for the ordinary investor.
We’ll take you through all of the features and give our opinions on this investing platform. We’ll also compare Pearler to other brokerage firms, including CommSec Pocket and eToro.
What is Pearler?
Unlike most trading sites, Pearler offers long-term investment options to investors looking for passive ways of making additional income.
It was founded by three Sydney friends in 2018 as an alternative to the then complicated, overpriced micro-investment applications and cumbersome brokerage platforms.
Pearler’s objective is to offer a one-stop destination for investors. They’re currently concentrating on investing to assist customers in achieving their long-term investment goals, but they plan to roll out more options in the coming days.
Which Investors Does Pearler Target?
Pearler is designed for Australians who wish to invest in stocks as a high-income part-time job. It comes with features that are ideal for both novice and experienced investors.
They have a supportive team that will gladly assist anyone who wants to “invest in shares the correct way,” which entails developing a diversified stock portfolio for a lengthy period.
However, it is not the best alternative for active traders who enter and exit transactions quickly.
Investors can trade in stocks and ETFs from Australia and the United States.
This is a somewhat limited selection of trading instruments, although it is pretty standard compared to most Pearler’s competitors. A few sites provide access to a broader choice of global stock exchanges.
Pearler has various unique features that similar and more established investment platforms, such as CMC Markets, CommSec, Nabtrade, and SelfWealth, don’t have.
- Auto Invest: This feature frees traders from continuously having to stress about their trading portfolio. The first move is to decide on the amount, interval, and particular share you want to trade in. Pearler’s latest version allows investors to choose from two alternatives; deposit and invest instantly, or let the deposit grow and invest after it attains a specific value. After setting up the auto-invest plan, the portfolio will sort itself out. Pearler also provides three investment strategies that you can pick from equal investment, rebalancing the portfolio and lowest share.
- Auto Deposit: This works by using a one-time or regular direct debit to replenish your cash account.
- Goal Tracking: This feature allows investors to set their investment target and helps them track the progress of their trade towards attaining the goals.
- Shareable Portfolios and Profiles: These are akin to the social community on eToro. Investors can get access to numerous famous financial influencers (Finfluencers). You can even become one of them if you decide to share your portfolio.
- Template Portfolios: Templates are pre-built portfolios premised on Pearler’s most prominent ETFs, stocks, and life insurance companies. The templates are based on a theme. You can select a portfolio centred on sustainability or the Financial Independence Retire Early (FIRE). Moreover, you can take a template and modify it to meet your investment requirements.
- Sharesight Integration: Sharesight is a reporting tool that facilitates performance and tax calculation.
Pearler’s User Experience
Pearler operates similarly to typical brokerage platforms; once you’ve set up an account, you can deposit and choose the specific assets you want to buy or invest in a pre-made Pearler portfolio, like Sustainability Leaders.
The Pearler app offers access to all ASX-listed stocks. Unfortunately, you cannot invest in US stocks since they are still trying to make them accessible.
Once you’ve invested, you can activate the Autoinvest option, which automatically deposits a specific sum and invests it when it reaches a specified level.
Pearler’s Autoinvest User Interface
This is an excellent feature that makes the entire process a breeze.
From the standpoint of UX, this eliminates a significant hurdle for newbies attempting to establish a DCA practice.
It has a clear layout for easy navigation. But, Pearler’s user interface does not have the same exquisite design as Stake AU.
Still, it performs the task and, to be honest, has a vastly better UX than most platforms.
Pros and Cons of Pearler
- Pearler is suitable for long-term investment plans.
- Its auto-invest function allows you to build up a strong habit of DCA.
- It offers free brokerage for some ETFs.
- Pearler’s sign up process is long.
- It’s not the cheapest CHESS-sponsored ASX trading platform.
Alternatives of Pearler
- CommSec Pocket: They offer access to many foreign marketplaces and a diverse selection of assets such as Fixed Income Securities, ETFs, Margin Loans, Shares, Options, and Warrants.
- eToro: Reputable for its social community trading—Pearler’s financial influencer portfolios are a streamlined version of the eToro’s. eToro imposes relatively cheap brokerage services and also enables cryptocurrency trading.
- Betterment: ETFs and fractional trading. There is no minimum balance requirement and a low annual charge. Moreover, it has an outstanding mobile experience.
- Raiz: ETFs only and exclusively on the ASX. There are no brokerage costs or no minimum amounts. Volumes can be preset to reoccur daily, weekly, or monthly.
- Spaceship Voyager: The NASDAQ, ASX, and NYSE are the only trading indexes. There is no requirement for a minimum investment.
Having a passive source of income is constantly becoming popular thanks to the various options that the internet has offered to us. Investing in stocks and exchange-traded funds (ETFs) are among the most popular alternatives that people are turning to.
However, you have to be keen when selecting platforms to trade on. While tons of sites offer brokerage services, most have drawbacks that can lead you to lose your investment. So, when you’ve decided to venture into this industry, you’ll need to do your due diligence before investing.
Pearler is one of the best alternatives, especially if you’re looking for a long-term investment plan. It has exceptional features and offers reasonable fees.