Spaceship Investing Reviews 59

The overall idea and implementation of Spaceship is brilliant and worth participating in. That bit - and it's the important bit, gets 5-stars.

However, I am extremely disappointed at the "interview" process to determine which of the funds you can invest in.

As a result of my careful answers, I was prevented from investing in the fund of my choice. I was informed by a Support Staffer that this was due to a requirement for them to ensure investors choose appropriately. I get that. I understand the why. I just think the way the questions are asked clearly misidentify investors.

There's no point in going into detail, suffice to say, I was mis-categorised, contacted support and was told that's how it is and I can reapply in 21 days.

That's not acceptable. A few questions asked by a human would have determined my correct investor status.

The app is very simple and easy to use and navigate through, most things are explained well

This terrific company making false promo code advertising all over the internet. Once you try promo codes on their website, they force you to sign up. Then, they claim that you connect to their website with VPN or Proxy, while you send a clear screenshot of your fresh computer with no VPN or proxy history. This legitimately looking unethical marketing approach collects user data and forces people to either buy another device for connection or pay the price without any promo codes. In result, even if you don't want to continue with them, it's too late, they collected you data. This is just similar approach to LinkedIn fake job posters. Don't fall for their services.

I started dollar cost averaging in 2021 Feb and kept going as funds were crashing ... for those who jump off (sorry) cause I have quite a bit of wealth now, as Warren Buffet said ( Buy low sell high )

Worst service scammers.

I commenced a spaceship account around 2 years ago and put in around $2K and then set up a $100/ month investment, I also kicked in some additional along the way. I understand the principles of a long term strategy, but despite the market doing some great things over the last 2 years, my investment in Spaceship declined over 30%. The supposed experts at Spaceship are unable to pick the right stocks or even anticipate the market to buy and sell in. I have since pulled out with a net loss of over $970 and do not want to wait on their feeble efforts to correct my trajectory. Please note, they are still happy to take the $2 per month for losing my money. Advice, stay away. invest in some shares or punt on the races for a better return.

Using daily, not a single problem here. Recommending!

ASIC now officially BAN spaceship. Google article yourself.

Remove your money asap. (I was luckily able to roll over my superfund with them to another provider before it dropped significantly afterwards)

I will sue them to compensate for wrong investment advise and misconduct by Spaceship. They will face sh!t tons of lawsuits later on.

The company is run by financial psychopaths as individuals lack empathy, don’t care about what others are skilled at lying and manipulation of data , the fund is down 55% this year, its a scam

I’ve been using spaceship since 2019 (Universe), starting off small with only a hundred dollars, but in the past 2 years I’ve been investing a big chunk of my money. Although the Spaceship app is easy to use, it’s an extremely poor move that the Universe portfolio has not only performed bad non stop in the past 3 years (30%+ loss), they have no decided to implement a management fund fee of .50%! Over $30k investment, my fee is going up from $30 to $170 per year, while the portfolio is still performing horribly. It’s the worst timing to include such a fee. I don’t know what they’re thinking, but I’ve stopped my monthly investment and I’ll be moving my money elsewhere.

I started to micro invest with 3 different platforms (Spaceship, CommSec Pocket and Raiz) in August 2020, with weekly funding, same amount on each platform. It was a good way to compare and realise the outrageous incompetence of Spaceship.
Although 2022 was a rough year for all markets, at the beggining of 2023 only my Spaceship is down and not a little bit: 40% of my investment lost. Of course I stopped adding more found to Spaceship, it will never recovers that much.
To add insult to injury, they just reviewed in 2023 their admin fee to 0.5% of the investment with no cap, which is absolutely high if your balance is high too. I now feel trapped, not being able to leave that platform. I can either accept the loss or watch the rest being eaten slowly by their fees.
Stay away of Spaceship, there are plenty of other microinvestment platform like Raiz, ComSec Pocket, etc... with more reliable fund managers. Spaceship is lead by incompetents and/or scammers .

Terrible terrible investment. Avoid at all costs. Their investment strategy is marketed as something amazing, but a potato could have got better performance.

This micro investing platform is scam,I really regret using spaceship because within one and half year I lost more than half of my investment ,I was attracted by paid partner promoter ,I started dollar cost averaging my hard earned money hoping to get some returns end of of losing my saving by -55%,I tried to contact the support team but unfortunately they will tell you this is long term investment and one and half year with them already losing- 55%of my deposit and on top of that they started charging fees ,to be honest this micro investment app is total scam they will rip you off , I had enough and I close my account I really don't wanna lured by their paid partners recommendation and I would not suggest to put money to anyone ,there is no way you will get any returns ,they will suck your hard earn saving

Really bad fund management. I've lost more than half of my investment. They charge you a monthly fee and do not end up "managing". True that the market dipped, but there were other funds and stocks that did well, thus if they'd managed the fund they wouldn't be showing such pathetic results. Looks like they also deleted their google page probably because of all the bad reviews.

Not exactly a great year this year, the market has taken quite a turn, but before that their investment team had been making massive gains for their investors.

I would assume once the market recovers we will see them go strength to strength once more.

Only started investing earlier this year and the return is 26.5% so far. The people making the investment choices seem to really know their stuff. Haven't had any issues at all. Highly encourage an investment of this type - having an automatic deposit each week after you get paid and the balance builds quickly.

Simple and easy way to invest in the stock market with low minimum. I like this platform.

Signed up to this company when they first launched. Was excited by their offering of an easy, online way to manage superannuation.
Unfortunately they had terrible administration and customer service. I was constantly told I would receive information that I never received. And proposed transactions were never done.

After months of waiting and trying to get a response, I finally advised them to cancel the whole application. I received an apology email and they removed me from their system.