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Axos Invest offers hands-off investing and high customization for portfolios.

Axos Invest Compared to Other Robo-Advisers, Reviews Explained

Kathryn Underwood - Author

Jul. 16 2021, Published 1:50 p.m. ET

When it comes to investing in the market, what used to be reserved for those well-trained in market analysis is now much more accessible to the average person. Part of this is due to the increased prevalence of companies that offer “robo-advising” or automated investing.

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One of the top robo-advisers that can bring investors—even beginning investors—good returns on their money is Axos Invest. While it doesn’t have an option for engaging a human financial adviser, Axos Invest shines in offering readily customizable portfolios with fairly low expenses.

Where Axos Invest is the best

In recent years, Axos Invest has been named to several top lists for robo-adviser options. In 2020, U.S. News & World Report included Axos Invest in its selection of the top 10 robo-advisers.

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In 2021,, the website run by money expert Clark Howard, ranked Axos Invest among its “Best Robo-Advisers” and gave it the distinction of being best for offering no-frills investment services. NerdWallet also gave Axos Invest a rating of 4.5 out of 5 stars and named it the best robo-adviser for cash management.

For Axos Invest, customization is one of its biggest strengths. The company said, “Automated doesn’t mean cookie-cutter.” Axos Invest allows customers to specify how they want to invest. Users can add or remove 32 asset types and add investments based on sector.

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The fees are relatively low. Axos Invest charges 0.24 percent on assets managed, which is competitive compared to human advisers charging 0.25 percent–0.50 percent. The company also provides free automatic rebalancing of your portfolio, as well as tax-loss harvesting, which helps reduce taxes on investment gains.

Axos Invest provides great goal-based tools that let investors set up different milestones they want to reach with their money. Its program helps users determine how much they need to save toward each goal category, which is easily adjustable.

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Cons of Axos Invest

One of the main complaints about Axos Invest is that it has a minimum account balance of $500. There are other firms that don’t have a minimum balance, like Betterment.

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A downside of Axos Invest as reported by is that there isn't access to a human adviser to help you. It also doesn’t offer joint custodial accounts or joint taxable accounts owned with a spouse.

NerdWallet also reported some recent technical issues with Axos Invest. The company explained that a recent transition from a previous user app to a new one, which caused some problems. Axos said that it waived any fees incurred by customers due to this temporary issue.

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Axos Invest competitors

Axos Invest offers services that are similar to what other companies provide. Here are a few of the top members of the competition for robo-advisers.

SoFi offers automated investing, active investing, IPO investing, crypto investing, fractional shares, and ETFs. SoFi went public recently through a SPAC merger.

Also, Vanguard, Fidelity Go, SigFig, and TD Ameritrade offer similar investment products. Many of these companies base their investment strategies on Modern Portfolio Theory, like Axos Invest.


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