Auto-investing Apps

When you sign up for automatic investing, you give a finance app permission to regularly invest some of your money in the stock market. These apps use their technology to estimate how much you can afford to invest and then automatically invest it for you. We have highlighted below, the most important need-to-knows of two popular auto-investing apps.

auto-investing iphone mockup

The Details

Top Auto-investing Apps

We've summarised the most important need-to-knows of 2 popular auto-investing apps - Plum and MoneyBox. Click on the tabs below to compare them.

Top Features
  1. Plum calculates how much you can afford to set aside and invests that amount automatically.
  2. You choose your investments based on what matters to you. For example, you could choose to invest in technology giants, ethical companies, African, American, Asian, British or European companies.
  3. It has three risk levels for you to choose from - Slow & Steady, Balanced or Growth.
  4. It invests in funds managed by established brands such as  Vanguard and Legal & General.
  5. It offers both a Stocks and Shares ISA and a General Investment Account.
  6. It also offers auto-saving. Learn about Plum's auto-saving here.
Minimum ISA Deposit

£1

ISA Charges

Subscription Fee: £1 per month (first month free)
Annual Investment Cost: 0.53% (average)
Trading Fee: £0
Exit Fee: £0

FCA Regulated?

Yes, to carry out payment service activities.

Does it connect to my bank account?

Yes, to personalise the amount Plum puts aside for you and identify when you are being overcharged on utility bills, it requires read-only access to your bank account through open banking.

Is my money safe?

Your money is protected by the Financial Services Compensation Scheme (FSCS). Note that this does not cover losses arising from the poor performance of any of your investments.

Can I withdraw my money anytime?

Withdrawals take 5-7 working days to complete.

Referral Scheme?

Yes. Earn £15 for every three successful referrals. Download the app and use the ‘invite’ tab in the Plum app to share your referral code.

How do I get the app?

Visit Plum's website here or download the free iOS or Android app

Top Features
  1. Moneybox helps you invest your spare change by rounding up your card transactions to the nearest pound and investing the difference (e.g. if you spend £2.30 on a snack, MoneyBox invests 70p for you).
  2. It also allows you to make weekly or one-off deposits into one of three investment options based on your risk appetite - cautious, balanced or adventurous.
  3. It offers Stocks & Shares ISA, Lifetime ISA, pensions, Junior ISA, general investment account and socially responsible investments.
  4. It invests in funds managed by established brands such as Legal & General, BlackRock and Fidelity.
  5. Moneybox also offers auto-saving. Learn about Moneybox's auto-saving here
Minimum ISA Deposit

£1

ISA Charges

Subscription Fee: £1 per month (first 3months free)
Platform Fee: £0.45% per month
Annual Investment Cost: 0.12% - 0.30%
Trading Fee: £0
Exit Fee: £0, but charges £25 per fund when you transfer a fund or holding directly to a new provider without cashing it in first.

FCA Regulated?

Yes, to carry out payment service activities.

Does it connect to my bank account?

Yes, but only if you want to.

Is my money safe?

Your money is protected by the Financial Services Compensation Scheme (FSCS). Note that this does not cover losses arising from the poor performance of any of your investments.

Can I withdraw my money anytime?

Withdrawals take up to 2-3 weeks to complete

Referral Scheme?

No

How do I get the app?

Visit the Moneybox website here or download the free iOS or Android app

One more thing...

Important❗️
We are not regulated to give you financial advice, so we kindly ask that you not take the information on our website, online community or social media pages as advice. If you think you will need someone qualified to help you make financial decisions such as what to invest in, we strongly recommend you seek advice from a suitably qualified financial adviser. There are a few websites where you can find advisers. Have a look at Unbiased or VouchedFor.

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Platform Charges Directory

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