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Axos Invest is best for hands-off investors and self-directed traders who want to build wealth on an easy-to-use platform. The robo-advisor suits existing Axos Bank users thanks to its account-linking functionality and interest rewards for those with checking accounts. However, Axos Invest doesn't offer ongoing human advisor access or fractional shares.
About Axos Invest
Axos Invest, formally known as Bank of Internet USA, is an online brokerage and banking platform that offers automated and self-directed investing accounts for stocks, ETFs, mutual funds, and options trading. Both passive and active investors can use Axos Invest.
Like some of the best robo-advisors, the Axos Invest Managed Portfolios also gives you access to features like quick deposits, automatic portfolio rebalancing, tax-loss harvesting, IRA automation, and more.
Active investors can also open an Axos Invest self-directed trading account, an easy-to-use platform that gives you access to real-time research and market data. It also offers an advanced trading option, Axos Elite, for more experienced investors looking to take advantage of margin trading, options trading, and other perks.
While its investment types — such as 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.
$0
Commission-free stocks and ETFs, $1 options contracts
- No minimum for DIY trading; no commissions on stocks or ETFs
- Automated portfolios included tax-loss harvesting; more than 30 asset classes
- Low advisory fee for automated investing
- Stocks, ETFs, options, and mutual funds available
- No financial advisor access
- High options contract fees
- No fractional shares
Axos Invest is best for hands-off investors and self-directed traders who want to build wealth on an easy-to-use platform. Users can benefit from portfolio rebalancing, tax loss harvesting, and real-time market data. Axos Invest suits existing Axos Bank users, thanks to its account-linking functionality and interest rewards for those with checking accounts.
- Open an Account in Under 10 Minutes.
- Trade thousands of S&P 500, NASDAQ, NYSE, and other listed stocks
- Commission-free ($0 per trade on eligible stocks and ETFs; other fees may apply)
- Easy-to-use platform with the tools you need and the convenience of placing trades anytime, anywhere.
- Upgrade to Axos Elite and boost your account with instant access to funds, lower fees, increased buying power, and enhanced market knowledge.
- Link your Axos Bank account for fast, safe, and easy money transfers.
- Axos Elite Members get a 20% discount on Options trading
- All Consumer Invest clients receive access to Axos' licensed Wealth Advisor Team.
Is Axos Invest Right for You?
Axos Invest is a great investment platform for all kinds of investors looking to trade multiple asset options with access to a handful of different investment tools and market research. Automated investing with Axos Invest is best for hands-off and long-term focused investors searching for professionally managed and personalized ETF portfolios.
It's especially great for existing Axos Bank users and/or prospective investors who want access to low-cost self-directed trading or automated investing. If you have an Axos Bank Rewards Checking account, you'll earn a higher APY (you can earn up to 3.30% APY) for each investment account you open in addition to it.
However, Axos Invest falls short regarding its options. Most competitive investment platforms charge $0.65 or less per options contract. Axos charges $1 for its standard account users and $0.80 for Elite members.
Also, you'll want to look elsewhere if you're searching for one-on-one advisor guidance for automated portfolios.
Axos Invest Pros and Cons
Axos Invest Pros
- $0 minimum to open a self-directed account
- Commission-free stocks, ETFs, and mutual funds
- Offers IRAs and joint accounts
- Can link Axos Bank account
- Tax-loss harvesting
Axos Invest Cons
- Axos Managed Portfolios doesn't offer human advisor access
- Managed Portfolios require a $500 minimum to invest
- Up to $1 per contract for options
- Must have Axos Elite to access margin trading and lower fees
Is Axos Invest Trustworthy?
The Better Business Bureau gives Axos Invest an F rating to reflect its opinion of how well the company interacts with its customers. The BBB attributes its rating to complaints filed against the business, including unresolved complaints.
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.
In 2015, former internal auditor Matt Erhart was fired from Axos after raising concerns about Axos Bank's current practices. Erhart believed he was wrongfully terminated after he alleged that Axos was giving misleading responses to the SEC, failed to disclose subpoenas to the Office of the Comptroller of the Currency, and provided risky loans to criminals and politically exposed individuals. In 2022, Erhart won the lawsuit and was awarded $1 million in damages for emotional distress, as well as $500,000 for defamatory statements. Axos denied the allegations despite the conviction.
Ways to Invest with Axos Invest
Here are the Axos Invest account types explained.
Self-directed Trading
Axos Self-Directed Trading has a solid selection of investments for those who like to trade independently. The customizable portfolio on Axos Invest provides commission-free trade of stocks, exchange-traded funds, and over 10,000 mutual funds.
There is no minimum deposit needed to open an Axos Invest DIY account. It currently offers individual and joint accounts, traditional IRAs, Roth IRAs, and rollover IRAs.
Check out Personal Finance Insider's guide to the best rollover IRAs>>
Axos Elite
Axos Elite is the advanced version of the Axos Self-Directed Trading account that gets you lower fees, advanced investment tools, access to market research, and margin trading. You'll also get access to extended trading hours (trade until 7:00 p.m. ET) and instant bank transfers.
Axos Elite is a membership program, that costs $10 per month, also offers real-time market data, and its investment research primarily comes from TipRanks™. Axos Elite users get a lower options contract rate of $0.80 (compared to $1 with a regular DIY account).
Managed Portfolios
Axos Invest's automated portfolio, called Axos Invest Managed Portfolios, has offerings in line with many of the top robo-advisors. Axos Managed Portfolios builds a personalized ETF portfolio (more than 30 asset classes are available) based on your personal goals, time horizon, and risk tolerance.
The robo-advisor rebalances your portfolio and makes adjustments to keep you on track with any short- or long-term goals you've selected. You can invest toward goals like retirement, emergency funds, wealth-building, or homebuying.
Automated investing with Axos Invest employs a buy-and-hold investment strategy for long-term gain and short-term tax advantages. While the $500 minimum requirement is a bit hefty compared to platforms like SoFi Active Invest®, Axos Invest makes up for it with its competitive 0.24% annual fee.
Its automated 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.
With the Axos Invest Managed Portfolios, you can use the IRAutimation feature, which provides tax savings for the current tax year or long-term tax savings on IRA withdraws for either a Roth or traditional IRA.
Retirement Accounts
Axos Invest and Axos Invest Managed Portfolios both offer retirement savings accounts for individuals. You can open a traditional IRA or Roth IRA with Axos. Axos also offers rollover IRAs for old 401(k) accounts.
Self-directed IRA accounts require a $50 minimum to open an account. Managed Portfolios still require a $500 minimum. With an automated IRA, you can create a diversified investment portfolio of equity ETFs and fixed-income ETFs based on your risk tolerance and time horizon.
Axos Invest does not offer 401(k) plans, SEP IRAs, or SIMPLE IRAs. However, a 401(k) calculator helps users keep their retirement savings on track. Users can also use the traditional 401(k) and Roth 401(k) simulator and the interactive retirement calculator.
Investment Options
Axos Invest offers trading of stocks, ETFs, mutual funds, and options. But with an Axos Managed Portfolios account, you'll trade ETFs.
Self-directed trading accounts and IRAs can now trade bitcoin ETFs following the SEC's approval in 2024.
When selecting funds, Axos Managed Portfolios says it also looks at factors like historical performance, investment focus, and operational efficiency. Though it supports short-term goals, the company mainly uses a buy-and-hold strategy that strives to maximize returns over the long haul.
Axos Invest does not offer fractional shares or cryptocurrencies, so if you want to trade digital currencies, try one of the best cryptocurrency exchanges.
Axos Invest Fees
There's no minimum requirement to open an Axos Invest Self-Directed Trading account. Axos Invest fees and pricing are generally low. However, Axos Managed Portfolios requires a $500 minimum to start investing. It also charges a 0.24% annual advisory fee. Axos Elite, the advanced DIY account option, charges a $10 monthly fee. IRAs require a $50 account minimum.
ETFs and stocks are commission-free. Options also charge $1 per contract. If you're an Axos Elite user options contracts are only $0.80 per contact.
Axos Advisor Services
Axos Advisor Services is a client-centered registered investment advisor (RIA) service for businesses to get individualized advice and guidance. It uses intuitive technology and consulting support from advisors to focus on growing business prospects and accessing intuitive tools.
Axos' technology is integrated with API, rebalancing features, trading capabilities, and practice management features. You can choose a bundled solution with Liberty, an open architecture structure for an open-access concept with third-party relationships, or an API Only strategy,
Growth Solutions at Axos Advisor Services include:
- Money Manager X-Change: Provides clients with access to portfolio management to enhance their businesses by delegating funds, creating multiple-model investment portfolios in the same account, various account manager options, the ability to add third-party money managers, and more.
- Retirement Solutions: Businesses can create their retirement plans, including a 401(k), profit sharing, ERISA 403(b), Non-ERISA 403(b), 457(b), 457(f), and much more. Axos retirement solutions include fiduciary support services and educational and enrollment support.
- Advisor Partner Program: Axos' Advisor Partner Program provides businesses with personalized consumer banking, lending, and mortgage services through holistic financial support. Advisors help businesses increase asset liquidity by gaining transparency, providing additional deposit and lending products, accessing competitive rates, and increasing client viewability.
- Fully Paid Securities Lending: This Axos Advisor service allows businesses to gain extra income in their investment portfolios by loaning securities to financial institutions. However, only fully paid securities or securities without margin debt are eligible for this service. Plus, securities are not protected by the SIPC.
For pricing and more information on Axos Advisor Services, call Axos at 866-776-0218 or complete a request form online.
Axos Invest Alternatives
Axos Invest vs. Betterment
Since Betterment Investing 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. 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 and cryptocurrency investing with Betterment. Axos Invest doesn't offer human advisor access or crypto investing.
If you're looking to start investing without any minimum requirements, Betterment is a better move. Its most basic account has a $0 minimum. Plus, the platform offers more account options (e.g., it provides each account Axos offers in addition to joint accounts, trusts, SEP IRAs, and inherited IRAs).
Betterment review
Axos Invest vs. Wealthfront
Axos Invest offers both self-directed trading and automated investing. Wealthfront Investing might be a better choice for those solely in search of robo-advice. Wealthfront only allows DIY trading for stocks, and you'll have to open a separate stock investment account.
While DIY investing is cheaper with Axos Invest, both Axos Managed Portfolios and Wealthfront have a $500 minimum investment requirement. Wealthfront, however, offers 529 plans, US direct-indexing a high-yield bond portfolio and crypto trusts. A stock investing account through Wealthfront only requires a $1 minimum.
Why You Should Trust Us: How We Reviewed Axos Invest
We examined Axos Invest using Personal Finance Insider's rating methodology for investing platforms to compare and examine account types, pricing, investment options, and overall customer experience when reviewing investing platforms. Platforms are given a rating between 0 to 5.
Investment platforms usually offer multiple assets, trading tools, fees, and other resources. Some investing platforms are better for more advanced investors or active investors, while others may better suit beginner investors and passive investors. Axos Invest was evaluated with a focus on how it performs in each category.
Business Insider's Overall Axos Invest Rating
Feature | Insider rating (out of 5) |
Fees | 4.00 |
Investment selection | 4.00 |
Access | 4.33 |
Ethics | 4.13 |
Customer service | 4.75 |
Overall score | 4.20 |
Axos Invest — Frequently Asked Questions (FAQs)
Axos Invest is an accessible robo-advisor that offers automated investment services. The platform differentiates itself by offering customizable portfolios, no minimum deposit requirements, and a transparent fee structure. Axos Invest tailors investment strategies based on individual goals, risk tolerance, and time horizon.
Axos Invest offers various account options, including individual brokerage accounts, joint accounts, IRAs (traditional, Roth, and SEP), a robo-advisor, and a self-directed account option.
Axos Invest constructs investment portfolios differently depending on the kind of account you open, financial goals, risk tolerance, and time horizon. Axos uses an algorithm for automated management to assess your risk tolerance and goals through a questionnaire.
Axos Invest is a low-cost investment app with no advisory fees and commission-free trades on stocks, ETFs, and mutual funds. Premium services, such as Managed Portfolios, require a $500 and a 0.24% management fee.
Yes. Axos Invest is suitable for beginner investors and investors of all levels. Beginner investing with Axos Invest gets you access to automated trading strategies, educational resources, and low fees.
Sofi Active Invest: Investments are not FDIC-insured - Are not bank-guaranteed - May lose value - Brokerage and Active investing products offered through SoFi Securities LLC, member FINRA(www.finra.org)/SIPC(www.sipc.org).