Exo Investing review
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Exo Investing was launched in 2018 and within a year has already managed to win two industry awards and secure the trust of thousands of clients. Find out everything you need to know about Exo Investing in this review including its security features, supported payment methods and fee structure.
Pros & Cons
What can I do with Exo Investing?
Founded in 2018 by CEO Lennart Asshoff, Exo Investing combines three key elements: the client’s investment preferences, the platform’s proprietary risk management technology, and low fees. Exo is akin to a virtual private banker, in that all you have to do is simply sit back while it manages your portfolio for you.
You might want to use Exo Investing if:
- You’re a beginner investor with little to no knowledge about the investing
- You’re a passive investor looking for a personalized investment portfolio
- You’re a self-directed investor who is looking for an affordable investment platform
Exo Investing portfolio and account options
How does Exo Investing work?
As opposed to other robo advisors, Exo Investing focuses less on human input and more on AI and high-proficiency algorithms to dynamically manage clients’ portfolios on a daily basis. Exo Investing analyses data on every ETF listed on the London Stock Exchange daily to better understand the dynamics of price, index, tracking error, size, volatility, and return.
One of the advantages of the platform is that it allows investors to make changes to their portfolios dynamically and daily without any additional costs, which can result in greater gains, when taking into account fees over the long-term.
Exo Investing offers two types of investment accounts – Individual Savings Accounts (ISA) and General Investment Accounts (GIA). In addition, it gives you three options when creating a portfolio – Automatic (AI creates your portfolio based on your profile), Assisted (You are allowed to make some individual selections before Exo creates your portfolio), and Custom (Build your own portfolio by selecting specific sectors, assets, and weightings).
How does Exo Investing invest my money?
Investing with Exo allows you to choose where you want to invest, while Exo conducts a thorough analysis for you. Currently, you can choose to place your money in three types of assets:
The bonds offered for investment include short-term government, government, corporate, and high-yield.
Exo Investing account types
Exo Investing offers two types of accounts, each designed to meet the requirements of different clients – Individual Savings Account (ISA) and General Investment Account (GIA).
Individual Savings Account (ISA)
The Stocks & Shares ISA is designed to reflect your own unique set of financial goals and situation. It is a tax-efficient way to invest your money, as there are no capital gains or other taxes associated with the account. Having said that, it is restrictive, with an annual cap of £20,000 set on contributions and penalties for withdrawals.
General Investment Account (GIA)
A GIA allows you to invest as much or as little as you want without any restrictions or limits. While there are no overt tax benefits, you do retain the flexibility of being able to deposit as much or as little as you like and all withdrawals are free, with no associated penalties.
Exo Investing investment options
Each of these account types comes with its benefits and limitations, so a thorough analysis of your investment portfolio made by Exo’s AI system can help you pick the right option for you and your funds.
Individual Savings Account (ISA)
- You can open an ISA if you’re a UK tax resident aged 18 and over, and have a UK bank account.
- A Stocks and Shares ISA offers the potential for a greater return than a regular Cash ISA.
- You won’t be charged any transaction fees, trading fees, or hidden commissions.
- You can also transfer an existing ISA from another institution to Exo Investing.
General Investment Account (GIA)
- You can start investing with £5,000.
- A GIA allows you to invest your money without any limits.
- It is less efficient than an ISA or Pension, but represents an easy way to grow your money.
- Your portfolio will be made up of Exchange Traded Funds (ETFs) to maximise your exposure to different sectors and industries.
Fees, limits, and payment options on Exo Investing
What are the deposit and withdrawal methods available with Exo Investing?
Exo Investing currently only accepts money transfers that come from the bank account associated with your Exo profile. These can take up to three business days while the platform verifies bank information.
You will receive a confirmation email as soon as the process is completed.
Are there limits or fees on Exo Investing withdrawals and deposits?
The minimum deposit for any type of Exo Investing account is £1 and there are no maximum investment limits.
Exo Investing runs a zero-fee policy, which is fairly standard among robo advisor platforms. It also doesn’t charge any transaction fees, which means deposits and withdrawals are free, regardless of the sum.
|Account type||Deposit limits/fees||Withdrawal limits/fees|
|ISA||Limit: £20,000 (annual limit)|
How much are Exo Investing’s fees and commissions?
The total management fees when investing with Exo Investing range from 0.50% to 0.75% annually, which is within the industry average. However, fees depend on the total assets under management and are calculated like this:
- 0.75% from £5,000 to £100,000
- 0.50% for any amount invested over £100,000
The fee is VAT inclusive and covers investment management, technology costs, and custodian charges.
Clients investing with Exo need to be aware of two additional fees outside of the platform’s control that they will have to pay – fund charges directly incurred by ETF providers, which average 0.25% annually, and the bid-ask spread that averages 0.03% per transaction for most of the ETFs in Exo’s asset universe.
|Fee type||Account type||Amount|
|Account management fee||Accounts £5,000-£100,000|
Accounts over £100,000
|Fund charges (ETFs)||All accounts||0.25% on average|
|Bid-ask spread (ETFs)||All accounts||0.03% per transaction|
Exo Investing investment limits
Although the minimum deposit starts at £1, you will need at least £5,000 in your account to start investing. Additionally, you can choose to increase or reduce contributions to your investments as you wish.
|Investment type||Minimum limit||Maximum limit|
|ISA||£5,000||£20,000 (annual limit)|
Exo Investing investment platform
What devices can I use Exo Investing on?
Currently, Exo Investing is designed to work as both a web app and a mobile app, available for both iOS and Android users. iOS users can download the app directly from the App Store, while Android users can get the app from Google Play. The mobile app is functional on smartphones and tablets.
- Web browser
- Android Mobile Devices
- iOS Mobile Devices
Can I use Exo Investing in my country?
Currently, Exo Investing is only available for clients based in the UK.
Is Exo Investing available in my language?
Currently, Exo Investing is only available in English.
How easy is it to use Exo Investing?
Exo Investing was created primarily for passive investors who would like to automate their investment portfolio. The Exo Investing website and mobile app are simple and easy to use in this regard, providing all the necessary information so that clients know everything about investing on the platform upfront.
When you sign up, you will have to fill in a questionnaire that will reveal exactly the type of account you want, your risk profile, and the options you have to increase your profits.
Exo Investing is one of the most affordable robo advisor platforms available for clients in the UK. Here are some of its main features:
Daily Management of Client Portfolios
Unlike other robo advisors, Exo reviews and manages each client portfolio daily to ensure that they are calibrated to your goals and individual situation.
Low annual fees
Exo Investing offers some of the lowest annual fees in the industry (under 1% per annum) All Inclusive, but this can drop to only 0.75% if you invest more than £100,000.
As opposed to other similar robo-advisors, Exo Investing allows increased flexibility and discretion to all its clients, so that they can choose their own ETFs and stocks for a potentially higher rate of return.
Security and regulation
Is Exo Investing safe?
Exo Investing is rigorously compliant with the Data Protection Act and GDPR, which means your information is safe. The account password is ciphered and the company uses the highest security standards to protect your information, which implies SSL certificates, TLS protocols, and VPNs to secure communications with third-parties and prevent interceptions.
In addition, Exo Investing tracks user logs and gets in touch with you as soon as a server detects any suspicious activity related to your account.
Am I and my funds protected?
Your money and securities are held by a secure, third-party custodian bank, Winterflood Business Services. To further increase your security, all assets in your portfolio are held separately from Winterflood’s assets.
Winterflood is a member of the Financial Services Compensation Scheme (FSCS), which means that in the unlikelihood of the insolvency of Exo Investing or Winterflood, clients’ accounts are entitled to compensation up to £85,000.
Is Exo Investing regulated?
Yes, Exo Investing is the trading name of Exo Investing Limited and is authorised and regulated by the Financial Conduct Authority (FRN: 748161) in the UK.
Do I have to verify my account with Exo Investing?
Yes, Exo Investing runs a KYC policy and requires all clients to provide personal information about them before being authorised to open an investment account with Exo Investing.
Exo Investing provides limited educational resources, but does include extra information about how the platform works, how its approach is different, and what you can do with each type of account. Besides this, Exo Investing also runs a blog that contains the latest news about the company, as well as some useful information about the investment markets in general.
Clients looking for live customer service will be disappointed, as you cannot get in touch with Exo Investing directly via live chat or phone. Instead, all inquiries have to be sent via email to: [email protected].
Exo Investing is an artificial intelligence powered, robo advisor platform. The company behind the platform is fully regulated and insured by recognised financial authorities in the UK, where it is based. Offering a sense of security for everyone looking to still take part in their domestic or international investing markets.
Exo Investing offers two types of accounts: ISA and GIA and unlike similar robo advisors, allows a higher degree of flexibility to their GIA clients, meaning you can select your own assets to invest in, among hundreds of potential ETF, stock, and alternative asset choices. The headline management fees of 0.50% to 0.75% annually are acceptable, but we have seen lower and the £5,000 minimum account balance that must be maintained is a potential deterrent for those brand new to investing.
Overall, Exo’s claim that their algorithms and methodologies have been optimised and tested for decades, proactively managing people’s money through a wide variety of market conditions, make them stand out in a field (robo advisory) with an ever-increasing number of choices for clients.
How to open an account with Exo Investing
- Enter your personal information, such as email, name, and address.
- You will be asked a series of questions to assess the level of risk for your portfolio.
- Once you complete all the questions, Exo will assign you a risk level between 1-10, and you can proceed to choose the type of account you want to open.
- At the moment, Exo only offers a Stocks and Shares ISA and a General Investment Account (GIA), although it is on track to expand its offering with a Pension account soon.
Exo Investing is part of the OpenMoney group, which was set up in 2015 by Anthony Morrow and Duncan Cameron. It currently operates as a private limited company and it is headquartered in Manchester, England.
Exo Investing makes money from annual fees for managing client portfolios and from any transactions inside self-directed accounts.
GIA accounts are subject to taxes on dividends and capital gains. To help you comply with UK tax laws, Exo Investing provides you with a periodic account statement.
We suggest getting in contact with one of Exo Investing’s customer support team members to find more information about selling stocks and shares.
In compliance with current regulations, it is not technically possible to delete your account. However, you can ask for a permanent deactivation. In this case, all your portfolios will be deleted and their funds sent back to your bank account before Exo processes your request.
You cannot short on Exo Investing.
On the login page of the platform, click on “Forgot password?”, then enter the email associated with your account and you will receive the necessary instructions to reset your password.
No, PayPal is not listed as an alternative payment/withdrawal method for clients of Exo Investing.
Your active investments are at no risk even if Exo Investing closes down due to platform malfunctions.
Should Exo permanently cease operations, client accounts are insured by the Financial Services Compensation Scheme (FSCS) up to £85,000.
No, currently Exo Investing only accepts debit card payments.
At the moment, Exo Investing doesn’t offer any bonuses to its clients.
No, Exo Investing runs entirely on AI technology based on algorithms that assess your risk profile and merely suggest which type of account you should open and what your portfolio should contain.
Yes, your entire financial portfolio is visible once you log into your account. If you click on the “Reports” tab on the top right of the page, you will be able to access two types of portfolio reports: An allocation view, showing the allocation and diversification of your portfolio and an activity view, which is a summary of all your account activity.
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