Moneyfarm vs Moneybox

Moneyfarm and Moneybox are both robo-advisors, this 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.

We’ve compared Moneyfarm and Moneybox on their features, products, portfolios and costs. Find out who came out on top.

Moneyfarm vs Moneybox: Vital statistics

Moneyfarm and Moneybox are pretty similar when you look at the vital statistics. Both providers have stocks and shares individual savings accounts (ISA) available to invest in. These let you invest up to £20,000 tax free (in the 2024/2025 tax year).

The providers are also both protected by the Financial Services Compensation Scheme (FSCS) which covers up to £85,000 of your deposits if the provider goes bust.

In the Finder 2021 customer satisfaction survey Moneybox customers thought that it had great service, that it was really easy to set up and liked its round ups feature.

Meanwhile, Moneyfarm customers liked that it’s easy to use, good value and great quality.

Round 1: Products

Moneybox, which is the newer of the two platforms, comes out on top for products. You can invest in a stocks and shares ISA with both providers, as well as a private pension.

Moneybox also lets you invest in a lifetime ISA (LISA). This lets you save up up £4,000 per year for your first home or for retirement. The government contributes £1,000 for every £4,000 invested. Moneyfarm doesn’t have this option, which may be a gamechanger if you’re looking to buy your first home.

• Winner: Moneybox

Round 2: Portfolios

Moneyfarm has slightly more portfolios on offer than Moneybox, but it’s really just one option split over 7 risk profiles. Moneybox has two options split between 3 risk profiles.

Moneyfarm has a risk assessment quiz. It takes a bit of time to complete and asks a series of questions about you, your savings, your goals, what you know about investing and how you feel about risk. It gives you a really nice indicator to which portfolio matches you. With Moneybox, you simply choose a portfolio based on its description of the risks.

Moneyfarm doesn’t have any ethical portfolios to choose, something Moneybox does have. All the portfolios on both platforms are fully managed.

• Winner: Moneybox

Round 3: 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.

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).

• Winner: Moneybox

Round 4: Features

The main thing dividing these providers is that Moneybox is app only. You can’t check your investments out on the big screen. In terms of everything else, they’re both pretty similar. The apps are available on iPhone and Android, and you can top up and access news and research from both apps.

• Winner: Moneyfarm

Round 5: Learning resources

Robo-advisors are usually just the start -investors tend to begin with some ready made portfolios then eventually move to choosing their own investments. A key stage between these actions is learning about investing. Moneyfarm has more opportunities to learn than Moneybox, with guides and videos available as well as a (paid for) advisory service.

Moneybox does have some guides available, but that’s all really.

• Winner: Moneyfarm

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.

Download Moneybox to save and invest for your future

• Download the app and get started with £1
• Save and invest starting with your spare change
• Market-leading cash Lifetime ISA at 0.85% (including bonus)
• Sign up takes minutes

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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. 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.