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Moneybox - do people use?
fondue
Posts: 229 Forumite
Does anyone use the Moneybox App? Is it a recommended app for investments? Small and medium investments.
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Comments
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Yes but not for investments for cash LISA (never had any problems, easy to contact).
Unlikely anyone will recommend Moneybox as it is more expensive, more limited and less established than other platforms.
At 0.45% plus £1 per month it is quite expensive. The choice of investments is limited to choosing between 3 risk levels (this may be an advantage to you).
Can see what they invest in link.
https://www.moneyboxapp.com/faqs/investments/what-am-i-investing-in/
For small investments (how small) this £1 per month fee could dramatically eat into your returns.
Hard to judge what would be best/ for you, depends on what your aims, risk tolerance etc are
Cheaper alternative to Moneybox's risk based would be to look at multi-assest funds (see below). Depending on the one you choose the 'best' platform could vary.
https://monevator.com/passive-fund-of-funds-the-rivals/
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