Established in 2017, Goodments is an responsible investing app which helps thousands of ordinary people research and invest in shares and funds that not only (hopefully!) make you money, but also fit your environmental, social and ethical values.
What is responsible investing?
Responsible, Ethical, Sustainable or Social investing is choosing investments that align with your personal values. But it’s still about making money. Responsible investors understand that you don’t need to sacrifice financial gain to invest with your values; it’s not about charity. In fact, responsible investments are proving to perform better than ‘traditional’ or non-responsibly focused investments across the globe and with less risk.
How is Goodments different?
Our goal is to make investing accessible to everyone, whatever level of experience they have. We’ve done this by developing technology that helps you get started by serving you investments you might like, think Netflix for investing. Our technology has also enabled us to offer some of the lowest cost investing on the market, with just a $1 minimum investment. Supported with our practice mode, tools and education it makes it really easy to get started with investing in any of the 2,500 + companies and ETFs available on Goodments. We’ve also developed some of the most advanced sustainability data and rankings so you can get a more complete picture of a companies performance and impact on the world around us.
Why responsible investing?
Responsible investing meets the needs of the next gen investor. It’s investing in the future (just think planet saving alternative meats, renewable energy and low impact fashion among other things) that can lead to better long term performance for our customer’s investments, as well as secure our planet’s future, making it a more equal and ethical place to live.
How it works
Unlike any other investment platform Goodments focuses on your sustainable and ethical values. You start by filling out a values-based profile, where you share with us the business behaviors you want to support, like recycling or diversity and equality, and those you don’t want to support, like tobacco or gambling. Goodments’ clever algorithm then matches you to investments based on these preferences.
You can then research and trade on these matched investments. We give you access to over 2500 US-listed shares and ethical funds, so you’re spoilt for choice.
Sustainability and financial data
When talking about the performance of an investment, financial data is ordinarily how you view it. Goodments goes a step further and shows a more complete picture of performance by also including sustainability ratings. Goodments awards companies and funds a “Goodness” score, based on their reported ESG (Environmental, Social and Governance) data. The Goodments spin on this is these three categories:
Planet – prioritizing the environment and managing natural resources responsibly
People – in a nutshell, how they treat their staff. Think human rights, diversity, gender equality, pay parity
Ethics – ensuring companies (and their supply chains) are transparent and honest in their reporting and accounting, how well their business is managed and what risks they will take.
Goodments offers fractional trading, which means you can buy fractions of, instead of whole investments. Think buying a slice instead of an entire pizza. This makes investing really accessible for people who want to start small or don’t have much money to invest. For example, a single share in Tesla will set you back $333.10*. With Goodments, you can spend as little as USD $1 on big brands like Tesla, and own a fraction of a stake, lowering the barrier to entry. Just like any investment, you own the fraction in your name and you even get dividends. *Correct at the time of writing
Goodments has one of the best value offerings in this space. We don’t charge any brokerage fees, unlike our larger competitors, and we don’t charge hidden account and transaction fees.
We have a super low monthly subscription of $11.25 / month (paid yearly), which gives you unlimited trades (or $13.99 if paid monthly), which is great value for more frequent investors. For the occasional investor, you can pay $2.99 a month, which gives you 2 trades a month. Don’t want to commit to a subscription? Then choose our pay as you go option, which is $3 per buy trade.
Here’s how we stack up against some of our competitors, based on completing your first $50 trade, instantly funded, on US stocks.
See the positive impact your investments are making
Did you know that all investments you make with Goodments have a positive impact on the world? Here’s an example
A $2000 investment in Intel Corp would help:
- Avoid 1478.96 tonnes of CO2 emissions
- Reduce 28.48 GWh electricity
- Recycle or recover 46.08 tonnes of waste
- Donate $10 to charity
How is this calculated?
We put our money where our mouths are at Goodments. Every time you invest, we donate a portion of your subscription to charities we care about, such as Sea Shepherd, Girl Effect and Charity: Water.
Feeling a little daunted by investing? We give you a practice mode and $10,000 of “fake money” to dip your toe in, and gain your confidence before investing for real. The practice mode works in exactly the same as the ‘real’ mode too, so by the time you get to trading, you’ll be all over how it works.
How do I use Goodments to invest?
Fill out your responsible investing profile
Let us know the business behaviors you do and don’t want to support.
Start an account
Tell us a little bit about yourself, and we’ll set you up a profile.
If you’re trading for real, we open a trading account for you on your behalf, so are required to do a standard 100-point ID check.
Get matches and start trading
See your list of matches based on your preferences, or browse one of the many category lists that Goodments provides, such as Electric vehicles, Sustainable funds or Efficient energy users. There are over 2,500 investments to choose from.
How do I track my investments?
Once you’ve made an investment with Goodments, you can track its performance in your portfolio. You can track how that investment is performing individually, or compared to your other investments. We also keep track of your portfolio’s aggregated Goodness score, risk score, and how much impact your portfolio has had, in its contribution to reducing CO2 emissions, reducing electricity usage, waste recycling or reduction, and charity donation.
I’m new to investing. Little help?!
We understand that investing can be daunting, and that there can be a lot to learn. We try to remove the baffle from investing by providing a simple experience (like buying something from an online store) with simple language that’s as jargon-free as possible. But if you’re looking for more specific help, here’s what we provide:
If you’re looking for some snackable, Investing 101-type content, check out Goodments Academy. We cover all the basics and well as giving you tips and tricks along the way to set you off on your investing journey.
You’ll find more specific info about how to invest within Goodments. If we haven’t answered any questions you might have here, you can always contact us for more info.
We provide views from financial analysts on whether to buy, sell or hold a particular investment. We’ve partnered with IEX Cloud, a provider of financial data, who give us these aggregated views from analysts across the financial markets, and are updated at regular intervals. Note that these views can change regularly based on market conditions.
Now that you’ve learnt some investing basics, figured out what Goodments investing is all about, and gotten some analyst opinions on what’s good to buy right now — why not hone your skills before investing for real, and take our practice mode for a spin. You can track how your investment’s performing, as well as learn how the interface works.
Check out the app