Updated September 28, 2026 · BrokerCue Editorial Team
Finax vs ModernAdvisor
What sets them apart
| Compare |  Finax |  ModernAdvisor |
|---|---|---|
| Management fee | 0.65% to 1% | 0.2% to 0.9%Lower |
| Minimum investment | €10 | CA$1,000 to CA$5,000 |
| Regulators | National Bank of Slovakia | Provincial securities commissions (registered portfolio manager in all Canadian provinces) |
| Portfolio types | ETF | ETF, ESG, CashCovers more |
| Investor protection | EU ICS up to EUR 20,000 | Not confirmed |
We earn a commission when you sign up through links on this site. Partner status can affect where a brand appears in our rankings.
Key differences
- ModernAdvisor scores higher overall: 8.9 vs 8.6.
- Regulators: only Finax offers National Bank of Slovakia.
- Regulators: only ModernAdvisor offers Provincial securities commissions (registered portfolio manager in all Canadian provinces).
- Management fee is lower at ModernAdvisor: 0.2% to 0.9% vs 0.65% to 1%.
- Portfolio types: only ModernAdvisor offers ESG, Cash.
Our verdict on each
Finax
Finax suits beginners in Slovakia who want a robo-advisor with a low entry point, since the minimum investment is €10. The cost trade-off is the management fee of 0.65% to 1%, above the robo-advisor median of 0.35%, so the fee matters most over a long holding period.
ModernAdvisor
Modern Advisor is a Canadian automated adviser for savers who want a managed ETF portfolio handled for them, not a place to trade. Costs suit steady monthly investors, but a 0.2% to 0.9% management fee and a CAD 1,000 to CAD 5,000 minimum ask for a real pot before you start.
Score breakdown
| Area | Finax | ModernAdvisor |
|---|---|---|
| Cost | 8.8Management fee of 0.65% to 1% sits above the robo-advisor median of 0.35%, against a low €10 entry. | 9.0HigherManagement fees of 0.2% to 0.9% sit above the robo-advisor median of 0.35%, with a CAD 1,000 to CAD 5,000 entry point. |
| Offer | 8.6 | 9.2Higher |
| Trust | 8.4 | 8.7Higher |
From lowest to highest
| Fact | Finax | ModernAdvisor |
|---|---|---|
| Management fee | 0.65% to 1% | 0.2% to 0.9% |
What each covers
| Portfolio types | Finax | ModernAdvisor |
|---|---|---|
| ETF | Yes | Yes |
| ESG | No | Yes |
| Cash | No | Yes |
Where each is licensed and available
| Country | Finax | ModernAdvisor |
|---|---|---|
| Canada | Not confirmed |
How they place
| Ranking | Finax | ModernAdvisor |
|---|---|---|
| Stock and ETF brokers | 205 of 471 | 165 of 471 |
| Robo-advisors | 91 of 151 | 65 of 151 |
Every fact side by side
| Fact | Finax | ModernAdvisor |
|---|---|---|
| Legal entity | Finax, o.c.p. a.s. | Modern Advisor Canada Inc. |
| Headquarters | Slovakia | Canada |
| Founded | 2018 | Not confirmed |
| Support channels | Phone, Email, Help centre | Email, Phone, Help centre |
Brokers
| Fact | Finax | ModernAdvisor |
|---|---|---|
| Minimum deposit | €10 | Not confirmed |
| Markets | ETFs, Stocks, BondsCovers more | ETFs |
| Features | Mobile app | Not confirmed |
| Pricing model | Low fees | Not confirmed |
| Audience | Beginners | Not confirmed |
| Deposit and withdrawal fees | No deposit fee | Not confirmed |
Where each stands against the rest
| Fact | Finax | ModernAdvisor | Median |
|---|---|---|---|
| Management fee | 0.65% to 1%highest quarter | 0.2% to 0.9%below the median | 0.35 |
Median across 87 listed brokers.
Pros and cons
Finax
Pros
- The minimum deposit is €10 and the minimum investment is €10, which keeps the starting point small.
- No fee applies to depositing, and support runs through phone, email and help centre.
- The mobile app comes with etf portfolios drawn from etfs, stocks and bonds.
Cons
- The management fee of 0.65% to 1% runs above the robo-advisor median of 0.35%.
- Investor protection is EU ICS up to EUR 20,000, so larger balances sit above the covered cap.
- The investable list is etfs, stocks and bonds, with no wider menu of funds, crypto or metals.
ModernAdvisor
Pros
- One predictable charge: a management fee of 0.2% to 0.9% rather than a commission on every trade
- Registered as a portfolio manager with the provincial securities commissions in all Canadian provinces
- Portfolio choice covers ETF, ESG and cash options, so risk can be adjusted over time
Cons
- A CAD 1,000 to CAD 5,000 minimum is well above the robo-advisor median of €60.06
- The 0.2% to 0.9% fee is above the robo-advisor median of 0.35%
- Shares are not among its markets, which cover etfs
Who each suits
Finax
Who it suits
- Beginners in Slovakia building a first portfolio, with a €10 minimum investment.
- EU investors who want supervised custody and EU ICS up to EUR 20,000 of protection.
- Members who like phone contact, since support covers phone, email and help centre.
Who should look elsewhere
- Day traders, since the account holds etfs, stocks and bonds and etf portfolios rather than a trading screen.
- Anyone comparing a business account, such as Vivid Standard at 0.5% to 1.5%.
- Traders who want a platform showing 0% in management fees, such as eToro.
ModernAdvisor
Who it suits
- Canadian residents with a lump sum who would rather not choose investments themselves
- Investors who want ESG or cash portfolios alongside the core ETF option
- People who prefer one ongoing charge to per-trade commissions
Who should look elsewhere
- Anyone wanting to trade shares, as Modern Advisor covers ETFs only
- Small investors building a portfolio slowly, held back by the CAD 1,000 to CAD 5,000 minimum
- Readers in the UK and Europe, since the minimum is set in Canadian dollars and the firm is registered as a portfolio manager in all Canadian provinces
Current offers
Finax
Current offer
Bonus
Discount for transferring your investment: 50% of the transferred amount managed free of charge
Applies to transferred investments over 1,000 EUR; account statement proving the termination and amount must be provided within 30 days; discount valid 2 years or until first withdrawal.
Source, checked September 26, 2026
Country by country
| Country | Finax | ModernAdvisor |
|---|---|---|
| Canada | No | Yes |
Questions about each
Finax
What does Finax cost to run?+
Finax charges a management fee of 0.65% to 1%, which sits above the robo-advisor median of 0.35%. The minimum deposit is €10 and depositing carries no fee, so the ongoing charge is the figure to weigh.
How much do I need to start investing?+
The minimum investment is €10 and the minimum deposit is €10. That entry sits below the robo-advisor median of €60.06, so modest sums can still build a portfolio.
ModernAdvisor
What does Modern Advisor charge to manage my money?+
Modern Advisor charges a management fee of 0.2% to 0.9%, taken as a set ongoing rate rather than a commission per trade. Robo-advisors across the comparison table charge a median of 0.35%, so read the two against each other before you commit.
How much do I need to start investing?+
The minimum investment is CAD 1,000 to CAD 5,000. That sits well above the robo-advisor median of €60.06, so Modern Advisor is aimed at savers with a sum already put aside rather than those building a portfolio slowly.