Before talking about the top Robo Advisors for beginners in Singapore, let’s first briefly understand what exactly are Robo advisors. So, Robo- Advisors are online platforms that give financial advice and provide investment services without any human interference. For doing so they make use of mathematical algorithms. In this blog, we will talk about the Top Robo Advisors for Beginners in Singapore!
It is certainly important to understand that almost every Robo advisor makes use of a distinct or unique strategy of investing, in this regard, the portfolios that are generated differ along with your returns. The experience of using each and every platform is different. Some platforms are annoying and difficult to use, while some platforms are perfectly designed. Robo- advisors can be simply compared and contrasted in respect of the fees and the minimum deposits. Let’s now discuss the notable Robo advisors for beginners that are certainly cost-effective.
It is one of the prominent Robo advisors for beginners. If you make use of the promo code MSFEEWAIVER you can certainly get 0 percent fees on Syfe at least for the first few months. After that, if we talk about the charges they are quite low – it charges its users around 0.65 percent per annum for up to $20,000 in investments. If you go on to invest more the fees will be less.
Another Robo advisor that is great for beginners is SquirrelSave. It is user-friendly and good for the ones whose starting capital is certainly small. Apart from that, its fee is also very low about 0.5 percent.
Another option for beginners could be StashAway. It is a popular platform among beginners in Singapore. If we talk about its annual fees, it is around 0.8 percent which is somewhat higher. However, the user experience is definitely worth the money!
It is another prominent Robo advisor and it charges its users about the lowest fees in Singapore. Yet, some beginners may find it a bit complicated to use.
- OCBC RoboInvest
This is another notable Robo advisor in the country. It is quite convenient to use especially for the ones who are already the customers of OCBC, and it doesn’t really need a huge sum of money to get started with — About US$100 would be enough.
The Robo advisors mentioned in this blog are indeed convenient to use for newbies. They are cost-effective and can help to kickstart a great investment journey.