Wombat review

Taking its name from the Australian marsupial, Wombat is an app that lets you invest based on your lifestyle and interests.

Updated

Fact checked
Wombat logo

What is Wombat?

Wombat aims to give everyone the opportunity to become an investor with its simple and intuitive platform.

Founded in 2017, Wombat is a digital investment app that lets you invest as little as £10 in a range of portfolio “themes” based on your beliefs and interests, as well as fractional shares. You’ll also pay no account or trading fees on accounts up to £1,000, and can choose from a range of deposit and investing options.

How does Wombat work?

You can download the Wombat app for Android and iOS via Google Play and the App Store. Once you’ve downloaded the app, you’ll need to register an account by providing your bank details, ID and national insurance number.

You can invest as little as £10, and will not pay any subscription or trading fees on accounts up to £1,000. For accounts over £1,000, you’ll be charged a small monthly fee and platform fee. You can choose to add money to your account at any time, or set up an auto invest function to automatically add money to your account each month.

You have the option of a stocks and shares ISA, as well as a general investment account. Once you’ve set up your account, you’ll be asked to choose at least one portfolio “theme”, each of which represents a bundle of different stocks and bonds in the form of exchange-traded funds (ETFs). For example, the “Fly the flag” theme is comprised of local British companies, while “Pure Gold” lets you invest in a gold-bullion fund. Alternatively, you can choose to invest in a household brand, such as Apple, Ocado or Netflix. With this themed approach to investing, users are able to match their investments with their beliefs and interests.

Wombat also offers a Round Up function, which lets you automatically round up your everyday purchases to the nearest pound. Your rounded-up change is then added to your account twice each month.

While Wombat does not offer direct financial advice, it does provide a learning hub that offers general investment guides and information.

Wombat themes

Like other robo-advisors, Wombat offers a number of investment portfolio “themes” that are designed to cater to your lifestyle, values and interests. There are currently over 20 themes, each containing a number of ETFs. You can choose to invest in one or more of the following themes:

  • Fly the flag
  • Pure Gold
  • The Adventurer
  • The Money-Maker
  • The Lifestyler
  • All American
  • The AI
  • The Techie
  • The Foodie
  • The World’s Greatest
  • The Innovator
  • The Snack Attack
  • The Healthcare Innovators
  • Women in Power
  • The Goodies
  • The Balanced
  • The British Bulldog
  • Social Media Guru
  • The Robo
  • Medical Cannabis
  • The Green Machine

Wombat fractional shares

You can also now invest in fractional shares with Wombat. Fractional shares are small parts of shares, which are particularly good for where shares are more expensive than the average investor can afford.

Wombat eligibility

You’ll need to meet the following criteria to open a Wombat account:

  • Be at least 18 years old
  • Be a UK resident
  • Have a national insurance number

What products does Wombat offer?

Stocks and shares individual savings account (ISA). An ISA lets you invest up to £20,000 per year in a stocks and shares investment account, with any profits exempt from capital gains or income tax.

General investment account. This is a regular investment account with no upper investing limit, but unlike with an ISA, your gains will likely be subject to capital gains or income tax.

Pros and cons of Wombat

Pros

  • No trading or account fees below £1,000
  • Invest from as little as £10
  • Stocks and shares ISA available
  • Large range of portfolio themes
  • Round up option
  • Fractional shares

Cons

  • Limited type of investments
  • Small fees on accounts over £1,000

How much does Wombat cost?

Depending on the size of your account, there are a number of fees you will be charged when investing using Wombat.

Accounts up to £1,000

  • No subscription fee
  • No trading or transaction fees
  • Fund provider fee (there’s a facts sheet within the app with more detail)

Accounts above £1,000

  • £1 monthly subscription fee
  • 0.45% platform fee
  • Fund provider fee

Is Wombat safe?

Wombat is authorised by the Financial Conduct Authority and covered by the Financial Services Compensation Scheme, so your money may be protected up to £85,000 in the event that Wombat goes into default. Wombat also uses 256-bit TLS encryption to protect your personal data.

Like any other type of investment, your capital is at risk when you invest using Wombat and you may end up with less than what you originally invested. The performance of Wombat investment themes will vary, and there is no guarantee of return.

Compare share-dealing platforms

Table: sorted by promoted deals first
Data indicated here is updated regularly
Name Product Price per trade Frequent trader rate Platform fees Brand description
Fineco
£2.95
£2.95
Zero platform fee
Your first 50 trades are free with Fineco, until 31/12/2020. T&Cs apply.
Fineco Bank is good for share traders and investors looking for a complete platform and wide offer. Capital at risk.
IG
0% commission on US shares, and £3 on UK shares
From £5
£0 - £24 per quarter
IG is good for experienced traders, and offers learning resources for beginners, all with wide access to shares, ETFs and funds. Capital at risk.
Hargreaves Lansdown Fund and Share Account
£11.95
£5.95
No fees
Cashback offer: Take control of your money and transfer investments to HL – get cashback as a thank you. Terms apply.
Hargreaves Lansdown is the UK's number one platform for private investors, with the depth of features you'd expect from an established platform. Capital at risk.
eToro Free Stocks
0% commission, no markup, no ticket fee, no management fee
N/A
Withdrawal fee & GDP to USD deposit conversion
Capital at risk. 0% commission but other fees may apply.
Interactive Investor
From £7.99 on the Investor Service Plan
From £7.99 on the Investor Service Plan
No transfer fees or exit fees. £9.99 a month on the Investor Service Plan
Open an ISA, Trading Account or SIPP you will get £100 of free trades to buy or sell any investment (new customers only).
Interactive Investor offers everything most investors need. Its flat fees makes it pricey for small portfolios, but cheap for big ones. Capital at risk.
loading

Compare up to 4 providers

Data indicated here is updated regularly
Name Product Minimum deposit Maximum annual fee Price per trade Brand description
Moneyfarm stocks and shares ISA
£1500
0.75%
£0
Hargreaves Lansdown stocks and shares ISA
£100
0.45%
£11.95
Hargreaves Lansdown is the UK's biggest wealth manager. It's got everything you'll need, from beginners to experienced investors. Capital at risk.
Interactive Investor stocks and shares ISA
Any lump sum or £25 a month
£119.88
£7.99
Interactive Investor offers everything most investors need. Its flat fees makes it pricey for small portfolios, but cheap for big ones. Capital at risk.
Saxo Markets stocks and shares ISA
No minimum deposit requirement
0.12%
£8.00
Saxo Markets offers a wide access to a range of stocks, ETFs and funds. Capital at risk.
AJ Bell stocks and shares ISA
£500
0.25%
£9.95
AJ Bell is a good all-rounder for people who to choose between shares, funds, ISAs and pensions. Capital at risk.
Fidelity stocks and shares ISA
£1000 or a regular savings plan from £50
0.35%
£10.00
Fidelity is another good all-rounder, offering a good package at a decent price. Not suited for trading shares. Capital at risk.
Nutmeg stocks and shares ISA
£100
0.75%
£0
Nutmeg offers three types of portfolios. Choose the one that goes with your investment style. Capital at risk.
Legal & General stocks and shares ISA
Legal & General stocks and shares ISA
£100 or £20 a month
0.61%
N/A
Legal & General is a big financial services company which offers insurance, lifetime mortgage, pensions and stocks and shares ISAs. Capital at risk.
loading

Compare up to 4 providers

Data indicated here is updated regularly
Name Product Minimum investment Choose from Annual fee Brand description
Moneyfarm Pension
£1,500 (initial investment)
7 funds
0.35%-0.75%
Moneyfarm has pensions that are matched against your risk appetite, goals and planned retirement date. Capital at risk.
AJ Bell Pension
£1,000
Over 2,000 funds
0.05-0.25%
AJ Bell has two different pension options, a self managed pension and one that is managed for you. Capital at risk.
PensionBee Pension
No minimum
7 funds
0.5% - 0.95%
Pension Bee is a newbie in the pension market. It helps consolidate your pension plans into one place. Capital at risk.
Hargreaves Lansdown Pension
£100 or £25 a month
2,500 funds
0-0.45%
Hargreaves Lansdown is the UK's biggest wealth manager. It's got three different retirement options. Capital at risk.
Interactive Investor Pension
Any lump sum or £25 a month
Over 3,000 funds
£10/month
interactive investor is a flat-fee platform, which makes it cost effective for larger portfolios. Capital at risk.
Saxo Markets Pension
Saxo Markets Pension
£10
Over 11,000 funds
No annual fee
Saxo Markets gives flexibility and control over your investment strategy. Capital at risk.
Moneybox Pension
£1
3 funds
0.15% - 0.45% charged monthly
Manage your money with an easy-to-use Moneybox app. Capital at risk.
loading

Compare up to 4 providers

All investing should be regarded as longer term. The value of your investments can go up and down, and you may get back less than you invest. Capital is at risk.

Frequently asked questions

All investing should be regarded as longer term. The value of your investments can go up and down, and you may get back less than you invest. Capital is at risk.

Related Posts

Ask an Expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder.com provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and Terms of Use.

Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.
Go to site