Robo-advisors have become popular in Greece as a convenient and cost-effective investment solution. These automated platforms use advanced algorithms and user-friendly interfaces to empower investors to manage their portfolios and achieve their financial goals. However, with a wide array of Robo-advisors available, it can be challenging to determine which one is the best fit for your needs. That's where Robo-Advisor Finder comes in.
To help you make an informed decision, we've compiled a list of the top Robo-advisors in Greece for 2024. We considered key factors like fees, investment options, customer service, and user experience when making our picks.
Here’s a quick list of the top Robo-advisors in Greece:
*Pies & Autoinvest is an execution only service, following your own investment decisions. Not investment advice or portfolio management.
Best Robo-advisors in Greece
If you're an investor living in Greece, there are a few things you should keep in mind when choosing a Robo-advisor:
Competitive pricing: You want to make sure you're getting a good deal on your investment management.
Low minimum deposit requirements: Some Robo-advisors have high minimum deposit requirements, so make sure you find one that fits your budget.
The ability to customize investment portfolios: Not everyone has the same investment goals, so you want to make sure you can tailor your portfolio to your needs.
To list the best Robo-advisors in Greece, we've checked different platforms and evaluated those main characteristics, and here are the results of our deep dive research.
A Spanish Robo-advisor that accepts clients from Greece and offers a wide range of automatically managed portfolios. They focus on simplicity, transparency, and low costs and provide an innovative way of investing, helping investors achieve their financial objectives.
Key offerings include socially responsible investment options and customization capabilities. Portfolios are available in EUR and USD across 11 risk profiles, incorporating features like global diversification, tax-loss harvesting, and automatic rebalancing. Additionally, InbestMe's mobile app enables convenient portfolio monitoring.
Currently, four ETF strategies are available: Standard, SRI, Dynamic, and Value. The onboarding process is easy and fast, with the ability to open an account online with a minimum investment requirement of €5,000, which also varies based on the strategy. InbestMe also stands out for its cost efficiency, charging between 0.13% and 0.41% per year, depending on the assets under management (AUM).
Larger portfolios over €100,000 can access a personal financial advisor offering a higher degree of customization, allowing for tailored investment plans based on your specific preferences and objectives.
Our InbestMe review provides further analysis of their offerings and features.
💵 Minimum balance: $50 to open an account; $500 to invest in Smart Portfolios
💰 Number of strategies: 80+
eToro is a multi-asset brokerage and social trading platform that was founded in 2007. It has become a leading online platform for social investing and trading in a wide range of financial assets, including equities, cryptocurrencies, commodities, Forex, and others.
eToro offers Smart Portfolios, a cutting-edge and automated way for investors to diversify their portfolios and gain exposure to major market trends. These ready-made portfolios are created by eToro analysts and innovative investment startups. There are over 80 Smart Portfolios covering a range of top market themes, trends, and industries, including disruptive technologies, the 5G revolution, renewable energy, the metaverse, and more.
These unique investment strategies provide investors with a convenient and diversified way to invest without incurring portfolio management fees. However, you must choose which Smart Portfolio is right for you, as there is no algorithm to recommend the best one for your profile. To do this, follow these three steps:
Choose a theme: Select a market theme or trend that aligns with your investment beliefs and vision.
Select a Smart Portfolio: Explore the range of Smart Portfolios available and select the one that suits your investment goals and preferences.
Start investing: Most Smart Portfolios require a minimum investment of $500.
Established in 2015, Birdee is a Luxembourg-based Robo-advisor that aims to democratize responsible investing for individuals of all backgrounds. As a wholly-owned subsidiary of BNP Paribas Asset Management, a highly regarded European financial institution, Birdee benefits from a strong corporate backing, adding to its credibility and reliability as an investment platform.
Birdee’s distinguishing factor is their commitment to responsible investing. The platform was created with the belief that investing can have a direct impact on society, and therefore, they focus on offering portfolios composed of sustainable and responsible securities. By investing through Birdee, you have the opportunity to contribute to a more sustainable future while pursuing your financial goals. With 14 portfolios available, each composed of listed index funds or ETFs, you can select the investment theme that aligns with your interests and objectives, whether it's biotechnology, small caps & SMEs, real estate, or a more diversified approach.
Another key advantage of Birdee is their low minimum investment requirement of just €50, making investing accessible to everyone. However, as for fees, they charge 1% per year, which is a bit higher than other platforms. The onboarding process is simple: after answering a series of five questions to define your risk profile, you can choose your preferred investment theme and fund your account. Birdee also offers a simulator to test the performance of different portfolios.
On the downside, as mentioned by Investing in the Web, some of the funds recommended by Birdee when creating user portfolios are owned by BNP Paribas, which is a shareholder of Birdee. These funds have their own fees, which means that there might be a potential conflict of interest:
“... Birdee is very transparent regarding this issue and addresses it very clearly on this page. From the 46 ETFs used in all strategies, 12 are from BNP Paribas… In our view, it is not a “shocking” number, but you should keep a close eye to make sure you are not paying more than you should.”
Saxo Bank, a Danish investment bank, provides SaxoSelect as an automated portfolio management solution for Greek investors. With over 1 million users worldwide benefiting from its services, Saxo Bank is an ideal choice for those seeking an international wealth management company offering brokerage services.
SaxoSelect's managed portfolios are built by renowned asset managers such as BlackRock and Morningstar, who leverage their industry expertise to create institutional-quality investment strategies. The portfolios are continuously adjusted and rebalanced to adapt to evolving market conditions, aiming to achieve the highest possible returns based on the chosen risk level.
To cater to different risk appetites, SaxoSelect offers 7 portfolio strategies, each designed to align with specific risk profiles, ranging from low to high. This allows investors to select the strategy that best suits their individual preferences and risk tolerance. Each portfolio has a minimum investment requirement, which varies between €10,000 and €30,000. SaxoSelect also provides comprehensive historical performance data for each portfolio, allowing you to assess the track record and performance of each strategy before making investment decisions.
Additionally, you have the freedom to withdraw your funds whenever necessary without incurring any additional costs or being subject to a lock-in period.
When it comes to fees, Saxo charges an annual fee of 0.75%, deducted quarterly on a pro-rata basis. However, it's important to note that additional transaction fees may apply depending on the specific portfolio and the currency of the holdings. As a result, the total fee charged can range between 0.91% and 2.06% per year.
💰 Number of strategies: A wide range of pies available on the platform
Trading 212 AutoInvest & Pies is a commission-free investment solution offered by Trading 212, a leading fintech company that aims to make financial markets accessible to everyone. It is authorized and regulated by reputable financial authorities, including the Financial Conduct Authority (FCA) and the Bulgarian Financial Supervision Commission (FSC). They have over 3 million funded accounts and £4 billion in assets under management.
One of the standout features of Trading 212 is its AutoInvest & Pies functionality, which lets you create customized portfolios called "Pies" that consist of a selection of stocks and ETFs. You have the flexibility to choose your desired securities and set target weights for each holding within your Pie with the ability to hold up to 50 securities within each pie.
Trading 212 also offers a social community aspect, where users can access a Pie Library, interact with other investors, and even copy Pies created by other community members. With the Auto-invest feature, you can deposit funds and then automatically invest them into your Pie. Moreover, if the investments in your Pie deviate from their target allocations, you can rebalance the Pie at any time by selecting the ‘Rebalance’ option.
Opening an account with Trading 212 is accessible to all, as the platform requires a minimum balance of just €1. Additionally, Trading 212 offers a demo account option, allowing users to practice and familiarize themselves with the platform before committing real funds.
While Trading 212 AutoInvest & Pies does not charge any fees for auto-investing or creating Pies, it's important to note that a 0.15% foreign exchange fee is applicable for buying assets in a currency different from the account's base currency. Nevertheless, the absence of commission fees for investing and the low entry requirement make Trading 212 an attractive choice for individuals seeking a cost-effective and user-friendly investment platform.
In conclusion, Robo-advisors have become a popular option for investors seeking hassle-free and automated investment solutions. As the number of Robo-advisors in Greece continues to grow, selecting the right one can be challenging.
In this article, we have provided a list of Greece’s best Robo-advisors to help investors narrow down their choices. However, it's important to note that there are many other companies worth considering. We encourage you to review our comprehensive list of Robo-advisors in Greece for further options.
When evaluating Robo-advisors, we recommend visiting their websites to learn about their investment strategies and approaches. Additionally, comparing the fees charged, features, and customer experience are essential steps in the selection process.
A reminder that the above should not be construed as investment advice and should be considered information only. Investors should do their own research and due diligence about the services and opportunities best suited for their risk, returns, and impact strategy.
Wishing you successful and informed investments!
FAQs
What is the best Robo-advisor in Greece?
The best Robo-advisor in Greece can vary depending on your individual preferences, investment goals, and risk tolerance. However, here is a list of Robo-advisors that we think are among the best for Greek investors:
Can I customize my investment portfolio with a Robo-advisor?
The degree of customization may vary between Robo-advisors. Typically, you can select from a range of pre-constructed portfolios based on your risk tolerance, investment goals, and preferences. In addition, some Robo-advisors may offer the option to adjust portfolio allocations based on specific investment preferences or restrictions, or they might suggest personalized strategies.
How much money do I need to invest in a Robo-advisor?
Most Robo-advisors have a very low minimum balance requirement to start investing (you can find Robo-advisors that allow you to start investing starting at €1).
Do Robo-advisors beat the market?
No, most Robo-advisors invest in ETFs and work on matching the performance of a particular market benchmark. So, they tend to closely replicate the market's performance rather than beat it.
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