We found 11 online brokers that are appropriate for Trading Free Robo Advisors.
What do you think about free robo advisors? Are they worth using? Are they safe options? There is an old saying “You get what you pay for”. That’s why many traders see free robo advisors in connotation.
But when investing, Not all free robo advisors are necessarily be bad at all. Some robo advisors can even be great tools for investors.
In a nutshell, the robo advisors are an automated system which pairs technology with methodical financial advice which are conducted automatically to support the portfolio management services.
Not only do robo advisors streamline the process of investment, but also reduce the expenses for all investors. The fees are much lower than the conventional financial advisors.
You might wonder if these robo advisors are 100% free. If we are talking about 100% free, then the stakes are high. Its not possible for most robo advisors to come with completely free services. The robo advisors themselves can be free. But there will be fees when you purchase the ETFs, or other services.
Whether you are using Robo advisors or other methods, ETFs always come with amanagement fee, although it is much lower than the mutual funds fees. The management fee is called a MER - Management Expense Ratio.
With brokerages, the MER is inevitable. Although most providers claim that their Robo Advisors are free, you won’t want to neglect the fact that the MER will be tied with the ETFs. MER covers all fund taxes and fees for a set time.
The Management Expense ratio consists of the operating expenses and management fees. Operating expenses, as the name suggests, cover the operations like running the fund based on the regulations. Meanwhile, the management fees are coming from all tasks done by the manager.
No worry, though. MER is not that much. MER for funds under the “FREE” robo advisors is around 0.10%
So, to answer the previous question: Is it completely free? Not really.
We would not be able to separate the MER from the robo advisors because they are integral parts of the whole activity. The MER charged on ETFs is inevitable. Although it is a free robo advisor that you are using, the MER is what makes it not completely free. But rest assured that the fees charged to you are much lower.
Depending on the brokerage that you choose, the minimum amounts to open an account can be different. From one robo advisor to another, you would expect different minimum amounts requirements. Some robo advisors even don’t have the minimum requirements to open an account so that all you need to do is to proceed. But some of them have limits. These limits are commonly smaller. But with the limitations, you will need to make the investment to open an official account.
When you assess some of the robo advisors, you will need to apply the same criteria to assess their potential and quality. For instance, you might want to focus searching fore free robo advisors with no minimum investment requirement. Therefore, you could include the robo advisors that meet your preference, and remove the others from your list.
Although it comes with a smaller minimum investment requirement, there are some fees charged for using the robo advisor at your end. The fees can be different from one platform to another with the different form of management expense ratios.
ETFs fees are not disclosed to direct customers. Instead, the fund will automatically be allocating the paying of these fees. So, you won’t need to do it manually.
The good free robo advisors are the ones which provides good asset allocation. Of course, you will want to have a reliable investment portfolio so that you can mitigate the risks and improve the chance to make the gains.
You will want to skip options which do not manage your portfolio well. When assessing multiple services out there, you could check if they are using the Modern Portfolio Theory as their guidance or not.
The key here is that the free robo advisors should be able to provide good balance between the risk and reward.
Free Robo Advisors are there to automate the process. Therefore, it would be sensible to only focus on the advisors who can make the right investment decisions.
A good robo advisor will be able to make the right decision, and automate the executions when several requirements are met. You will have peace of mind knowing that someone is handling the investment portfolio for you.
As we know, poor emotional decisions can lead to the failure with an investment portfolio. The robo advisor uses automation reading the market with the aim of making the best choice available. It can read the opportunities so well so that it won’t hurt your investment portfolio.
We have conducted extensive research and analysis on over multiple data points on Free Robo Advisors to present you with a comprehensive guide that can help you find the most suitable Free Robo Advisors. Below we shortlist what we think are the best free robo advisors after careful consideration and evaluation. We hope this list will assist you in making an informed decision when researching Free Robo Advisors.
Selecting a reliable and reputable online Free Robo Advisors trading brokerage involves assessing their track record, regulatory status, customer support, processing times, international presence, and language capabilities. Considering these factors, you can make an informed decision and trade Free Robo Advisors more confidently.
Selecting the right online Free Robo Advisors trading brokerage requires careful consideration of several critical factors. Here are some essential points to keep in mind:
Our team have listed brokers that match your criteria for you below. All brokerage data has been summarised into a comparison table. Scroll down.
When choosing a broker for free robo advisors trading, it's essential to compare the different options available to you. Our free robo advisors brokerage comparison table below allows you to compare several important features side by side, making it easier to make an informed choice.
By comparing these essential features, you can choose a free robo advisors broker that best suits your needs and preferences for free robo advisors. Our free robo advisors broker comparison table simplifies the process, allowing you to make a more informed decision.
Here are the top Free Robo Advisors.
Compare free robo advisors brokers for min deposits, funding, used by, benefits, account types, platforms, and support levels. When searching for a free robo advisors broker, it's crucial to compare several factors to choose the right one for your free robo advisors needs. Our comparison tool allows you to compare the essential features side by side.
All brokers below are free robo advisors. Learn more about what they offer below.
You can scroll left and right on the comparison table below to see more free robo advisors that accept free robo advisors clients.
Broker | IC Markets | Roboforex | XTB | XM | Pepperstone | AvaTrade | FP Markets | NordFX | EasyMarkets | FXPro | Admiral |
---|---|---|---|---|---|---|---|---|---|---|---|
Rating | |||||||||||
Regulation | Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) | RoboForex Ltd is regulated by the FSC, license 000138/437, reg. number 128.572. RoboForex Ltd, which is an (A category) member of The Financial Commission, also is a participant of its Compensation Fund | FCA (Financial Conduct Authority reference 522157), CySEC (Cyprus Securities and Exchange Commission reference 169/12), FSCA (Financial Sector Conduct Authority), XTB AFRICA (PTY) LTD licensed to operate in South Africa, KPWiG (Polish Securities and Exchange Commission), DFSA (Dubai Financial Services Authority), DIFC (Dubai International Financial Center), CNMV (Comisión Nacional del Mercado de Valores), KNF (Komisja Nadzoru Finansowego), IFSC (Belize International Financial Services Commission license number IFSC/60/413/TS/19) | Financial Services Commission (FSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC) | Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), Federal Financial Supervisory Authority (BaFin), Dubai Financial Services Authority (DFSA), Capital Markets Authority of Kenya (CMA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of the Bahamas (SCB) number SIA-F217 | Australian Securities and Investments Commission (ASIC), ASIC (406684), Financial Services Authority (FSA), South African Financial Sector Conduct Authority (FSCA), Financial Stability Board (FSB), The Financial Services Agency (JAPAN FSA), Financial Futures Association of Japan (FFAJ), Abu Dhabi Global Markets (ADGM), Financial Regulatory Services Authority (FRSA), Polish Financial Supervision Authority (KNF), Israel Securities Association (ISA), British Virgin Islands Financial Services Commission (BVI), BVI (SIBA/L/13/1049), Central Bank of Ireland | Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), FSCA (FSP Number 50926), Capital Markets Authority (CMA), Securities Commission of the Bahamas (SCB) | Cyprus Securities and Exchange Commission (CySEC), License No: 209/13, VFSC registration number 15008 | Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), British Virgin Islands Financial Services Commission (BVI) | Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Financial Sector Conduct Authority (FSCA), Securities Commission of the Bahamas (SCB) | Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC) |
Min Deposit | 200 | 10 | No minimum deposit | 5 | 200 | 100 | 100 | 1 | 100 | 100 | 200 |
Funding |
|
|
|
|
|
|
|
|
|
|
|
Used By | 180,000+ | 1,000,000+ | 1,000,000+ | 10,000,000+ | 400,000+ | 300,000+ | 10,000+ | 10,000+ | 142,500+ | 1,866,000+ | 10,000+ |
Benefits |
|
|
|
|
|
|
|
|
|
|
|
Accounts |
|
|
|
|
|
|
|
|
|
|
|
Platforms | MT4, MT5, Mirror Trader, Web Trader, cTrader, Windows, Mac, iOS, Android | MT4, MT5, Mac, Web Trader, Tablet & Mobile apps | MT4, Mirror Trader, Web Trader, Tablet & Mobile apps | MT4, MT5, Mac, Web Trader, Tablet & Mobile apps | MT4, MT5, TradingView, DupliTrade, myFXbook, Mac, Web Trader, cTrader, Tablet & Mobile apps | Web Trader, MT4, MT5, AvaTradeGo, AvaOptions, DupliTrade, ZuluTrade, Mobile Apps, ZuluTrade, DupliTrade, MQL5 | MT4, MT5, cTrader, IRESS, Mac, Web Trader, Tablet & Mobile apps | MT4, MT5, Tablet & Mobile apps | MT4, MT5, Web Trader, TradingView, Tablet & Mobile apps | MT4, MT5, cTrader, Tablet & Mobile apps | MT4, MT5, Mac, Web Trader, Tablet & Mobile apps |
Support |
|
|
|
|
|
|
|
|
|
|
|
Learn More |
Sign
Up with icmarkets |
Sign
Up with roboforex |
Sign
Up with xtb |
Sign
Up with xm |
Sign
Up with pepperstone |
Sign
Up with avatrade |
Sign
Up with fpmarkets |
Sign
Up with nordfx |
Sign
Up with easymarkets |
Sign
Up with fxpro |
Sign
Up with admiralmarkets |
Risk Warning | Losses can exceed deposits | Losses can exceed deposits | 76-85% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72.89% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. | 75-95 % of retail investor accounts lose money when trading CFDs | 71% of retail investor accounts lose money when trading CFDs with this provider | Losses can exceed deposits | Losses can exceed deposits | Your capital is at risk | 75.78% of retail investor accounts lose money when trading CFDs and Spread Betting with this provider | Losses can exceed deposits |
Demo |
IC Markets Demo |
Roboforex Demo |
XTB Demo |
XM Demo |
Pepperstone Demo |
AvaTrade Demo |
FP Markets Demo |
NordFX Demo |
easyMarkets Demo |
FxPro Demo |
Admiral Markets Demo |
Excluded Countries | US, IR, CA, NZ, JP | AU, BE, BQ, BR, CA, CW, CZ, DE, ES, EE, EU, FM, FR, FI, GW, ID, IR, JP, LR, MP, NL, PF, PL, RU, SE, SJ, SS, SL, SI, TL, TR, DO, US, IT, AT, PT, BG, HR, CY, DK, FL, GR, IE, LV, LT, MT, RO, SK, CH | US, IN, PK, BD, NG , ID, BE, AU | US, CA, IL, IR | AF, AS, AQ, AM, AZ, BY, BE, BZ, BT, BA, BI, CM, CA, CF, TD, CG, CI, ER, GF, PF, GP, GU, GN, GW, GY, HT, VA, IR, IQ, JP, KZ, LB, LR, LY, ML, MQ, YT, MZ, MM, NZ, NI, KP, PS, PR, RE, KN, LC, VC, WS, SO, GS, KR, SS, SD, SR, SY, TJ, TN, TM, TC, US, VU, VG, EH, ES, YE, ZW, ET | BE, BR, KP, NZ, TR, US, CA, SG | US, JP, NZ | US, CA, EU, RU, SY, KP, CU | US, IL, BC, MB, QC, ON, AF, BY, BI, KH, KY, TD, KM, CG, CU, CD, GQ, ER, FJ, GN, GW, HT, IR, IQ, LA, LY, MZ, MM, NI, KP, PW, PA, RU, SO, SS, SD, SY, TT, TM, VU, VE, YE | US, CA, IR | US, CA, JP, SG, MY, JM, IR, TR |
You can compare Free Robo Advisors ratings, min deposits what the the broker offers, funding methods, platforms, spread types, customer support options, regulation and account types side by side.
We also have an indepth Top Free Robo Advisors for 2024 article further below. You can see it now by clicking here
We have listed top Free robo advisors below.