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Moneyfarm vs Moneybox
It's robot wars with the "robo investment advisors", but which one comes out on top?
What's in this guide?
Whether you’re just jumping on the bandwagon now, or have been investing for a while, it’s likely that you’ve heard of these two platforms. Both of them are known as “robo-advisors” which effectively means that they invest on your behalf using automation (and sometimes real advisors). Now, no matter what knowledge on the subject, experience or money you have, you can try out investing.
Moneyfarm and Moneybox are two platforms that invest on your behalf, but how do they compare?
Moneyfarm vs Moneybox
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| Overall rating | ★★★★★ | ★★★★★ |
| Markets and products rating | ★★★★★ | ★★★★★ |
| Costs rating | ★★★★★ | ★★★★★ |
| Mobile and web features rating | ★★★★★ | ★★★★★ |
| Learning resources and tools rating | ★★★★★ | ★★★★★ |
| Go to site More Info | Go to site More Info |
What markets and products do they cover?
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| Rating | ★★★★★ | ★★★★★ |
| Risk assessment quiz | ||
| 3 or more portfolios | ||
| 5 or more portfolios | ||
| ETFs | ||
| Stocks and shares ISA | ||
| Pension (SIPP) | ||
| Lifetime ISA (LISA) | ||
| Junior products | ||
| Ethical investing | ||
| Go to site More Info | Go to site More Info |
Costs of investing
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| Rating | ★★★★★ | ★★★★★ |
| Cost of investing £10,000 | £104.00 | £87.00 |
| Cost of investing £100,000 | £640.00 | £762.00 |
| Cost of investing £1m | £6,400.00 | £7,512.00 |
| Average cost per £100 | £0.77 | £0.79 |
| Go to site More Info | Go to site More Info |
Mobile and web features
| | |
| Rating | ★★★★★ | ★★★★★ |
| Desktop/web app | ||
| iPhone app | ||
| Android app | ||
| Share price notifications | ||
| Go to site More Info | Go to site More Info |
Learning resources
| | |
| Rating | ★★★★★ | ★★★★★ |
| Guides and information on products available | ||
| Videos and walkthroughs | ||
| Demo account | ||
| Advice | ||
| Go to site More Info | Go to site More Info |
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Moneyfarm vs Moneybox: Costs
Moneyfarm uses “tiered charging” which means that you are charged at different rates based on how much you invest.
It charges 0.75% for investments up to £10,000, 0.60% on investments between £10,001 and £50,000, 0.50% on investments between £50,001 and £100,000 and 0.35% for investments over £100,000. There are also fund fees charged by the ETF providers of 0.20% and a market spread fee of up to 0.09%.
Moneybox is slightly different. There’s a £1 per month fixed subscription fee (free for the first 3 months). As well as this, it charges a platform fee of 0.45% annually and between 0.12% and 0.30% fund provider fees.
That’s a lot of numbers, but what does it actually mean?
If you invest £10,000 with Moneyfarm then you’ll spend £104 (in a year).
If you invest £10,000 with Moneybox then you’ll spend around £87 (in a year).
For Moneyfarm, we got these numbers off the website. It has a cost calculator that allows you to find out how much your investments will cost. If you want to check it out, head over there. Moneybox doesn’t have a cost calculator, so this was worked out the old fashioned way (£45 platform fee + £12 subscription fee + £30 fund provider fees).
Our verdict: Is Moneyfarm better than Moneybox?
Moneyfarm and Moneybox are both very similar platforms – they both invest on your behalf using information on your risk appetite and allow you to invest in a stocks and shares ISA, a personal pension and as a general investment. If you’re looking for a lifetime ISA (LISA), this isn’t something that Moneyfarm offers.
Moneybox is an app only platform, so if you want something that you can check out within your browser then you might prefer to use Moneyfarm.
One major thing Moneyfarm has that Moneybox doesn’t is the ability to give financial advice. Moneyfarm has a blend of automation and real advice, which means that you can ask an actual human being for help with your investments.
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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. Capital is at risk.
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