If you're considering a robo advisor, you might be considered a 'lazy investor'. Don't worry; that's nothing to be ashamed of. After all, with the number of hours Singaporeans spend at work, not everyone has the time to actively invest in the market.
If you're considering a robo advisor, you might be considered a "lazy investor". Don't worry; that's nothing to be ashamed of. After all, with the number of hours Singaporeans spend at work, not everyone has the time to actively invest in the market.
Once you're happy with a recommended portfolio, you can start investing. Robo advisors usually have a very comprehensive dashboard for you to monitor your investments, as that's mostly all you'll be doing. However, we can compare robo advisors in terms of their fees and minimum deposits. The following ones are beginner-friendly as they have low fees and practically no minimum:
If you're already an OCBC customer, it's super convenient to get on board OCBC RoboInvest. All you have to do is log in to your OCBC Digital app, tap on Invest, and click on RoboInvest. But there is a price to pay for the convenience: their management fees are among the highest I've seen, at 0.88 per cent per annum.
Many people have heard about EndowUs thanks to its flagship portfolio, which allows you to invest with your CPF savings. To get started with EndowUs, you’ll need to fund your account with S$1,000 at a minimum. MAS requires robo advisors to be licensed under the Securities and Futures Act and/or the Financial Advisers Act . Which one apply depend on the robo advisor’s “scope of activities and business model”, but the point is that you should find it in either one or the other.
Robo advisors also get special leeway to pass their clients' orders to brokerages without having to obtain an additional capital markets services license under the SFA.
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