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Axos Invest offers automated portfolios, self-directed trading, and more.
Axos; Alyssa Powell/Insider
Bottom line: Axos Invest is best for hands-off investors and self-directed traders who want to build wealth without excessive fees. The platform also suits existing Axos Bank users, thanks to its account linking functionality and interest rewards for those with checking accounts. But its automated portfolio offerings don’t include ongoing guidance from human advisors.
Overall rating
FeatureInsider rating (out of 5)Fees4.00Investment selection4.00Access4.05Ethics4.38Customer service4.75Overall score4.24
Is Axos Invest right for you?
Axos Invest is an Axos Financial-owned platform offering automated investing, commission-free trading, and more. Plus, the company has an advanced trading option, Axos Elite, for more experienced investors, and users will be able to take advantage of margin and options trading.
The platform is both a great choice for existing Axos Bank users and/or prospective investors who want access to low-cost self-directed trading and automated investing. For instance, if you have an Axos Bank Rewards Checking account, you’ll earn a higher APY (you can earn up to 1.25%) for each investment account you open in addition to it. One drawback to consider, though, is that mutual funds cost $9.95 per trade and options are $1 per contract.
Axos Invest acquired robo-advisor Wisebanyan in 2019. Axos mainly offered automated portfolios before launching self-directed trading in 2021.
Axos Invest vs. Betterment
Axos Bank
Betterment
Min. Investment
$0 self-directed trading; $500 managed portfolios
Min. Investment
$0 or $100,000, depending on the account
Fees
Commission-free stocks and ETFs, $1 per options contract, and $9.95 per mutual fund
0.24% managed portfolios
Axos Elite: $10 per month; $0.80 per options contract
Fees
0.25%/year or 0.40%/year
Investment choices
Stocks, ETFs, options, and mutual funds
Investment choices
ETFs
Axos InvestBetterment
Since Betterment doesn’t offer DIY trading, it’s best to compare the automated features of the two platforms. Annual fees for the platforms are extremely close, and both Axos Invest and Betterment offer features like automatic portfolio rebalancing and tax-loss harvesting.
You’ll get access to a wider range of account types at Betterment, though. For instance, Betterment offers all of Axos Invest’s accounts in addition to SEP IRAs, inherited IRAs, and trusts. You’ll also be able to utilize one-on-one financial planner guidance with Betterment.
Axos Invest vs. Wealthfront
Axos Bank
Wealthfront
Min. Investment
$0 self-directed trading; $500 managed portfolios
Min. Investment
$500
Fees
Commission-free stocks and ETFs, $1 per options contract, and $9.95 per mutual fund
0.24% managed portfolios
Axos Elite: $10 per month; $0.80 per options contract
Fees
0.25% (0.06% to 0.13% for fund fees)
Investment choices
Stocks, ETFs, options, and mutual funds
Investment choices
ETFs, index funds, and crypto trusts
Axos InvestWealthfront Investing
Axos Invest offers both self-directed trading and automated investing, but Wealthfront only offers automated investing. Therefore, Wealthfront might be a better choice for those solely in search of robo-advice.
When it comes to annual fees for automated investing, Axos Invest is slightly cheaper than Wealthfront. However, you’ll get access to a wider range of account types (e.g., it offers each account type available through Axos Invest’s managed portfolios, but you can also set up SEP IRAs, trusts, and 529 plans) and investment choices at Wealthfront.
Ways to invest with Axos Invest
Self-directed trading
Axos Invest has a solid selection of investments for those who like to trade on their own. While its investment types — which currently include stocks, ETFs, options, and mutual funds — don’t quite measure up to the offerings of other popular platforms like Vanguard and Fidelity , they’re still a fairly strong choice for users who want low fees.
You’ll be able to trade stocks and ETFs without commissions, but Axos Invest falls short when it comes to its options and mutual fund fees. Most competitive investment platforms charge $0.65 or less per options contract. Axos charges $1 for its standard account users. In addition, mutual funds will cost you $9.95 per trade.
It currently offers individual and joint accounts, traditional IRAs, Roth IRAs, and rollover IRAs.
Axos Elite
The platform also offers margin trading, but you’ll need to subscribe to Axos Elite to take advantage. Axos Elite is best for more advanced traders who want access to perks like extended trading hours, lower fees, and market research and analysis.
The membership program, which costs $10 per month, also offers real-time market data, and its investment research primarily comes from TipRanks™. You can trade until 7 p.m. E.T. with its extended trading hours offering, and Axos Elite users get a lower options contract rate of $0.80.
Managed portfolios
Axos Invest automated portfolio offerings are in line with those of many top robo-advisors. The account builds a personalized ETF portfolio (more than 30 asset classes are available) based on your personal goals, time horizon, and risk tolerance. Plus, it rebalances your portfolio and makes adjustments to keep you on track with any short- or long-term goals you’ve selected.
While the $500 minimum requirement is a bit hefty compared to platforms like SoFi Automated Investing, Ally Invest Managed Portfolios, and Fidelity Go, Axos Invest makes up for it with its competitive 0.24% annual fee.
Its portfolios also offer tax-loss harvesting (this feature reduces your tax burden by replacing ETFs with negative growth with similar funds), and you can automate traditional and Roth IRAs.
Axos Invest: Is it trustworthy?
The Better Business Bureau gives Axos Invest a B- rating to reflect its opinion of how well the company interacts with its customers. The BBB attributes its rating to the fact that it received 12 complaints, one of which it hasn’t resolved.
While the bureau’s ratings don’t guarantee whether a company will be reliable or perform well, they also consider several other factors. These include type of business and time in business, licensing and government actions, advertising issues, and customer complaint history.
Axos Invest has closed a total of 12 complaints in the last three years. It closed eight complaints in the last 12 months, and it currently has one unresolved complaint. The platform’s record is clear of any major scandals.
Axos Invest — Frequently Asked Questions (FAQ)
Is Axos Invest free?
While its managed portfolios have an annual 0.24% fee, you can take advantage of commission-free stocks and ETFs with its self-directed trading option. Options contacts will cost you $1 per contract, and you’ll pay $9.95 per trade with no-load mutual funds.
How do I close my Axos Invest account?
You can close your account by logging in and messaging Axos. The platform only charges fees when you close an IRA. You’ll currently have to pay $40 to close an IRA.
Who owns Axos?
Axos Financial, Inc. owns both Axos Invest and Axos Bank.
Related terms
ETFs: These funds usually contain a blend of stocks, bonds, and commodities. You can invest in two types of ETFs: index-based ETFs and actively managed ETFs. Margin trading: With margin trading, you can take on additional buying power by borrowing money to place trades, but brokers use the investments you buy as collateral.IRA: Any individual above age 18 with taxable income can open an IRA. Retail investors can utilize accounts like traditional and Roth IRAs and earn several tax perks in the process. Both allow you to contribute up to $6,000 per year (or $7,000 for those 50 and older). In addition, small businesses and self-employed individuals will have access to other IRAs, such as SEP IRAs and SIMPLE IRAs.Robo-advisor: Also known as automated investing portfolios, these accounts rely on computer algorithms and/or expert oversight to build personalized, self-managing portfolios for hands-off investors.