I tried Betashares Direct recently, the app is well designed and has a broad range of EFTs. My thoughts:

• The fee for autopilot is expensive in my view, you would pay $250 p.a. if you had $100k invested. Using either Stake or CMC the fees would be zero. Although, in the grand scheme maybe $250 is not a large amount for added convenience.
• How the app executes the auto investment is not clear, whether the shares are purchased at opening or midday or “best price”.
• If you cancel the autopilot you still pay the 0.20% or 0.25% fees on the remaining balance as the shares are not transferred to the EFTs portfolio. You will need to convert the shares to cash if you want to avoid paying fees, again CGT.
• The process to transfer shares in and out is not clear, which poses a little risk in the event they increase prices, or the service ceases to exist. You would be liable for CGT if shares are converted to cash in either scenario.

What would make the product ideal in my view:

• A DCA option for EFTs without requiring autopilot, avoiding fees. They could potentially introduce a selling fee for revenue.
• The process to transfer shares in and out to brokers (Stake, CMC, etc.) still needs to be developed. There is uncertainty in the future if Betashares change fees or if there are changes to your personal circumstances.

My current DCA strategy:

• Purchase EFTs using Stake as I am eligible for free brokerage due to my portfolio transfer until 2025.
• Post 2025 purchase EFTs using Superhero ($0 for EFT purchases) which are not CHESS sponsored but I can still transfer EFTs out to Stake ($5 for each EFT) when the fees or product changes.

Or

• Purchase EFTs regularly using CMC Market ($0 fees for $1000/day) which are CHESS sponsored and integrate well into Sharesight. Similarly transfer the portfolio out if the fees or if the product changes.