Axos Invest Review

Company background

Axos Invest is the investment arm of Axos Financial, Inc., a US-based diversified financial services company. The retail investment brand was established in 2019 when Axos Financial rebranded WiseBanyan - a digital wealth management platform it had acquired earlier that year - as Axos Invest. WiseBanyan itself had been founded in 2013. Axos Invest, Inc. is registered with the SEC as an investment adviser, while Axos Invest LLC handles brokerage services as a FINRA and SIPC member. The platform offers two distinct services: Managed Portfolios, a robo-advisor product, and Self-Directed Trading for independent investors.

Fees and pricing

Axos Invest charges a 0.24% annual advisory fee for Managed Portfolios accounts with balances of $500 or more. Accounts below $500 are subject to a minimum fee of $1 per month. Tax-loss harvesting is available as an add-on service for accounts with balances over $25,000 and carries an additional 0.20% annual fee, bringing the combined cost to 0.44% for qualifying accounts. There is no account opening fee, no deposit fee, and no withdrawal or inactivity fee. Self-Directed Trading accounts offer commission-free stocks and ETFs. Options contracts are priced at $1.00 per contract for standard accounts, reduced to $0.80 per contract for Axos Elite subscribers. Mutual fund trades are $9.95 per transaction for load funds; no-load funds trade for free.

An optional Axos Elite subscription costs $10 per month and unlocks extended trading hours to 7:00 p.m. ET, margin access, reduced options fees to $0.80 per contract, and premium research tools including TipRanks. Margin is available only to Axos Elite subscribers.

Regulation and safety

Investment advisory services are provided by Axos Invest, Inc., an SEC-registered investment adviser. Brokerage services are provided by Axos Invest LLC, a member of FINRA and SIPC. Client assets are held in custody by Axos Clearing Corporation, which is also a FINRA and SIPC member. SIPC protection covers up to $500,000 per customer, including up to $250,000 in cash, in the event of brokerage firm failure. Bank deposit products offered through the broader Axos platform are FDIC-insured, though investment products are not covered by FDIC or any governmental agency.

Platform experience

Axos Invest does not offer a standalone mobile trading application. Instead, investment accounts are accessible through the general Axos Bank mobile app for iOS and Android, with securities trading handled via a mobile-optimised site linked from within the app. The web platform provides a unified dashboard integrating banking and investment accounts. Managed Portfolios offer customisation across up to 32 investment categories, including socially responsible investing (SRI/ESG) options. Real-time market data and TipRanks research are reserved for Axos Elite subscribers; other users receive delayed quotes.

Pros and cons

Axos Invest's main strengths are its competitive 0.24% Managed Portfolios fee, commission-free stock and ETF trading, no withdrawal or inactivity fees, automatic rebalancing, and integration with Axos Bank. The primary drawbacks include no standalone trading app, a $1.00 per-contract standard options fee (reducible to $0.80 only with a $10/month Axos Elite subscription), tax-loss harvesting requiring both a $25,000 minimum and an extra 0.20% fee, advanced features locked behind the same subscription, and the absence of crypto trading and a practice demo account.