evestor review

evestor is one of many robo-advisers offering to let you invest with small sums of money - find out how it works

Evestor logo

evestor lets you start investing with just £1, less than the price of a cup of coffee. You’re not going to make enough profit from £1 to get yourself a fancy new car anytime soon, but it’s certainly a starting point. We’ve looked at the portfolios available with evestor, how you get started, how much it costs and some pros and cons.

What is evestor?

Launched in 2017, evestor is an online investment manager that aims to help customers grow their finances through passive mutual funds. Like many of its digital wealth management peers, evestor assigns you to one of three portfolios based on your financial goals and appetite for risk. evestor also provides a financial advice service called OpenMoney.

How does evestor work?

evestor is a robo-advisor, which means that it invests on your behalf. Here’s how it works:

  1. Choose your account. You have a choice between a general investment account, an individual savings account (ISA) and a pension. We go into more detail about these further down.
  2. Fund your account. You can start with just £1, it can take up to 5 days for the money to clear.
  3. Choose a risk profile. There are three risk options – low, medium and high. It’s got a questionnaire to help you choose.
  4. evestor invests on your behalf. The portfolios are managed by experts, so you can relax.
  5. Track your investment performance. You can do it 24/7 with the app.
  6. Withdraw whenever you want. It can take 5 days for the money to clear.

    What can you invest in with evestor?

    evestor has 3 portfolios – low risk, medium risk and high risk. We’ve detailed how they’re broken down in some more detail below.

    What products does evestor offer?

    evestor has 3 different products on offer:

    • General investment account. Invest without any restrictions or limits, but you might have to pay tax on profits.
    • Pension. Lets you save for your retirement.
    • ISA. Lets you use your annual ISA allowance to invest tax free.

    evestor general investment account

    The evestor general investment account has no trading limits or allowances.

    You can’t use your ISA allowance with evestor, which means that any profits over £12,300 in each tax year are taxable. If you haven’t used your ISA allowance in the 2021/2022 tax year then you could invest in an ISA instead.

    evestor ISA

    You can invest in an ISA with evestor. This lets you use your ISA allowance, which means that you can invest up to a certain amount each year without paying any tax on your profits. The ISA allowance for the 2021/2022 tax year is £20,000.

    evestor pension

    The evestor pension lets you save up for your retirement. It’s separate from your state pension and your workplace pension, so it’s for anyone who wants to save a little extra for retirement.

    You can invest in the same investments as with the other accounts, but you can’t withdrawn until you turn 55. You can get tax relief on the money you pay into your pension from the government.

    If you have existing pensions elsewhere then you can transfer them to evestor.

    How much does evestor cost?

    evestor charges an annual management fee of 0.25%, as well as a 0.10% administration fee, on each of its portfolios. You’ll also pay a fund fee, which covers the cost of investing in the various funds.

    • Portfolio 1 (Low Risk) – 0.14% fund fee
    • Portfolio 2 (Medium Risk) – 0.12% fund fee
    • Portfolio 3 (High Risk) – 0.11% fund fee

    Overall fees

    This is the approximate amount you’ll pay in fees on each portfolio:

    PortfolioManagement feeAdmin feeFund feeTotal fees
    Low risk0.25%0.10%0.14%0.49%
    Medium risk0.25%0.10%0.12%0.47%
    High risk0.25%0.10%0.11%0.46%

    Is evestor safe?

    evestor uses 256-bit TLS encryption to protect your data and is authorised by the FCA. It is also covered by the Financial Services Compensation Scheme (FSCS)
    , so you may be entitled to compensation of up to £85,000 on your deposits in the event that evestor ceases trading or defaults.

    As with any other type of investment, whatever capital you invest with evestor is at risk, and there is no guarantee of returns. You may end up with less than you originally invested. The performance of each portfolio will also likely differ, and a higher risk portfolio does not necessarily mean higher profits.

    Pros and cons of evestor

    Pros

    • No upfront costs
    • You can invest from as little as £1
    • Offers pension and ISA accounts

    Cons

    • Only invests in passive mutual funds
    • Long withdrawal and deposit process
    • Only three risk portfolio options

    Our verdict: Is evestor any good?

    evestor is pretty similar to Wealthify, Wealthsimple and Nutmeg, three other robo-advisors. Both Wealthify and Nutmeg have more portfolios, however.

    evestor’s risk assessment quiz is a great feature, and it’s great that it has three different products that you can invest with. It’s simple to use, and a great way to get started with investing if you’re still a beginner.

    Compare alternatives

    Table: sorted by promoted deals first
    Name Product Price per trade Frequent trader rate Platform fees Brand description
    eToro Free Stocks
    £0
    N/A
    £0
    Capital at risk. 0% commission but other fees may apply. The minimum deposit with eToro is $200.
    Hargreaves Lansdown Fund and Share Account
    £11.95
    £5.95
    £0
    Hargreaves Lansdown is the UK's number one platform for private investors, with the depth of features you'd expect from an established platform. The minimum deposit with HL is £1. Capital at risk.
    Freetrade
    Finder Award
    Freetrade
    £0
    N/A
    £0
    Claim your free share worth between £3 and £200. Capital at risk.
    Degiro Share Dealing
    UK: £1.75 + 0.014% (max £5)
    US: €0.50 + $0.004 per share
    N/A
    £0
    Degiro is widely seen as one of the best low-cost share brokers, for people who are looking to trade regularly. The minimum deposit with Degiro is £0. Capital at risk.
    interactive investor Trading Account
    £7.99 (with one free trade per month)
    N/A
    £9.99 per month
    Interactive Investor offers everything most investors need. Its flat fees makes it pricey for small portfolios, but cheap for big ones. The minimum deposit with ii is £0. Capital at risk.
    loading

    Compare up to 4 providers

    All investing should be regarded as longer term. The value of your investments can go up and down, and you may get back less than you invest. Past performance is no guarantee of future results. If you’re not sure which investments are right for you, please seek out a financial adviser. Capital at risk.

    Frequently asked questions

    All investing should be regarded as longer term. The value of your investments can go up and down, and you may get back less than you invest. Past performance is no guarantee of future results. If you’re not sure which investments are right for you, please seek out a financial adviser. Capital at risk.

More guides on Finder

  • NAGA review

    Find out what we thought of NAGA, a trading platform that lets you t trade more than 500 financial instruments and copy other people’s trades.

  • Charles Stanley Direct review

    We reviewed Charles Stanley Direct, Charles Stanley’s online investment platform. Find out how it works and what we think in our review.

  • How to invest in cryptocurrency

    Learn how to get started investing in cryptocurrency, the methods available to you, and what to keep in mind before making your first purchase.

  • Best shares to buy now

    We’ve compiled the top trending stocks from leading investment platforms to see which stocks people are buying today.

  • Best shares to buy now

    We’ve compiled the top trending stocks from leading investment platforms to see which stocks people are buying today.

  • Interactive Brokers review

    Find out what we thought of Interactive Brokers, some key features, information about its platforms and how much Interactive Brokers costs.

  • Jaguar F-Pace insurance group

    Find out which insurance group the Jaguar F-Pace falls under and how much it costs to insure.

  • InvestEngine review

    Read our InvestEngine review to find out more about how it works, whether it’s any good and how much it costs to invest with InvestEngine.

  • Paying tax on interest from a savings account

    If you earn interest from a savings account, you need to pay tax on that interest at the same rate as the rest of your annual taxable income.

  • How to invest in electric cars

    Find out how to invest in electric cars and see some electric car stocks to consider. We’ve listed the 6 steps to get started and the risks.

Ask an Expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked
Finder.com provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and Terms of Use.

Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.
Go to site