The devices will help to determine typical speeds on fixed-line NBN services by performing remote testing at different times during the day.
The Australian Competition and Consumer Commission (ACCC) investigation is created to track whether we're being delivered far less than the promises we signed up for.
"Australians spend over 4 billion dollars per year on fixed broadband services and now many consumers are left angry, frustrated, and dissatisfied by services that don't deliver the peak speeds that are promised", ACCC Acting Chair Delia Rickard says.
According to the regulator, the program is expected to cost around $7 million to deliver over four years.
"The volunteers will be helping to produce accurate, transparent, and comparable information about the quality and reliability of the fixed-line broadband services available in their area".
The ACCC wants to determine if issues related to poor broadband speeds are caused by the NBN network itself or by individual internet service providers.
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Australia's competition watchdog wants you to help it figure out just how fast your broadband is, after figures revealed we spend more than $4 billion dollars a year on fixed broadband services.
It's all part of a bid to bring more transparency to the broadband market and accurate information about the real NBN speeds Australians actually get on a day-to-day basis. "This will lead to more competition and better value for money for broadband services", Rickard said.
The ACCC is now investigating whether ISPs could have misled customers on their actual broadband speeds.
"Currently many consumers are left angry, frustrated, and dissatisfied by services that don't deliver the peak speeds that are promised", she said.
An initial 2,000 households will be equipped with the devices in the first year of the program, which will be taking applications up until the end of July.
The investigation is in response to the alarming rise in the number of consumers who are unhappy with their broadband speeds as the NBN begins its national rollout.