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Axos Invest Review
Axos Invest offers commission free US stocks, ETFs and options plus a robo advisor, but it does not offer forex trading despite being listed in this directory.
Min Deposit
$0
Spreads From
Commission-free
Max Leverage
Not applicable, Axos Invest does not offer forex or margin leverage
Platforms
2
Pros
- Commission free trading in US stocks, ETFs and options with no minimum deposit
- Registered with FINRA and the SEC, plus SIPC account protection
- Robo advisor fee of 0.24 percent a year is below many traditional advisors
- Tax loss harvesting is available once a balance passes 25,000 dollars
Cons
- Does not offer forex, CFDs or futures despite appearing in this directory
- FINRA fined Axos Invest LLC 75,000 dollars in 2023 over false disclosure filings
- Self directed sign up bonuses have expired and nothing current replaces them
- Tax loss harvesting adds a further 0.20 percent fee on top of the base charge
Axos Invest LLC, formerly WiseBanyan Securities LLC, is a Delaware company formed in 2014 and registered with FINRA and the SEC. WiseBanyan began as a free robo advisor before Axos Financial bought it in 2019 and renamed it Axos Invest. The firm is based in Las Vegas, Nevada, not San Diego where its parent Axos Bank sits.
Axos Invest runs two products. Self Directed Trading gives commission free access to US stocks, ETFs and options with no minimum deposit. Managed Portfolios is a robo advisor charging a 0.24 percent yearly fee on balances above 500 dollars, with tax loss harvesting available above 25,000 dollars for an extra 0.20 percent. Neither product offers forex, CFDs or futures.
FINRA fined and censured Axos Invest LLC 75,000 dollars in 2023 for filing customer relationship summaries that wrongly said the firm had no disciplinary history. Past self directed trading sign up bonuses of up to 250 dollars have all expired, and no investing bonus is currently live.
Min. Deposit
USD 0
Max Leverage
Not applicable, Axos Invest does not offer forex or margin leverage
Spreads From
Not applicable, stock and ETF trades are commission free
Platforms
Regulators
Platforms
- FINRA (USA)
- SEC (USA)
- SIPC
