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TL;DR:
- Finax is an Australian‑based robo‑advisor that creates diversified portfolios for as low as 0.35% annual fee.
- It uses ETFs, offers automatic rebalancing, and supports regular contributions via PayPal or bank transfer.
- Performance tracks closely with the market; over the past three years it returned 6.8% per annum on average.
- Ideal for beginners and busy professionals who want hands‑off investing without high fees.
- Getting started takes under 10 minutes - just sign up, answer a risk questionnaire, and fund your account.
What is Finax and How It Works
If you type "Finax" into Google, the first thing you’ll see is a sleek logo and the tagline “Invest smarter, not harder.” In plain English, Finax is a digital wealth‑management platform that builds and manages a portfolio of exchange‑traded funds (ETFs) based on your risk tolerance, investment horizon, and financial goals. Think of it as a subscription‑style service that takes care of the heavy lifting - asset allocation, tax‑loss harvesting, and periodic rebalancing - while you sit back and watch your money grow.
The core process follows three simple steps:
- Profile & risk assessment: You answer a 10‑question quiz covering age, income, savings, and how you’d feel if the market dropped 10%.
- Portfolio generation: Finax’s algorithm matches your answers to one of five model portfolios, ranging from “Conservative” (about 20% equities, 80% bonds) to “Aggressive” (up to 90% equities).
- Automation: Once you fund the account, Finax automatically invests your money into selected ETFs, rebalances quarterly, and reinvests dividends.
All of this happens inside a secure, ASIC‑regulated environment. The platform is built on Australian cloud services, meaning data residency complies with local privacy laws - a point that matters to many investors wary of overseas servers.
Key Features, Fees, and Performance
Finax tries to keep the experience frictionless. Below are the features that most users talk about:
- Low management fees: 0.35% per year for the basic portfolio, 0.55% for the premium “Impact” portfolio that adds ESG‑focused ETFs.
- Zero account‑opening fee: You can start with as little as AUD 100.
- Automatic contributions: Set up a weekly or monthly transfer of any amount; the platform will round‑up your everyday purchases if you link a debit card.
- Tax‑loss harvesting: For taxable accounts, Finax sells losing positions to offset gains, reducing your annual tax bill.
- Mobile‑first design: The iOS and Android apps let you track performance, adjust contributions, or pause investing with a few taps.
How does Finax stack up against other Australian robo‑advisors? The table below gives a snapshot of the main fee components and minimum investments for the most popular services in 2025.
| Provider | Management Fee (p.a.) | ETF Expense Ratio Avg. | Minimum Investment | Key Differentiator |
|---|---|---|---|---|
| Finax | 0.35% (basic) / 0.55% (Impact) | 0.12% | AUD 100 | ESG Impact portfolio & PayPal funding |
| Stockspot | 0.68% (up to AUD 5k) then 0.43% + 0.15% ETF costs | 0.15% | AUD 5,000 | Extensive educational hub |
| Six Park | 0.79% for the first AUD 5k, dropping to 0.33% thereafter | 0.10% | AUD 2,000 | Fully Australian‑focused ETF lineup |
| Spaceship | 0.44% on the cash account, 0.99% on the Shares account | 0.20% (high‑growth ETFs) | AUD 50 | Focus on tech‑centric growth stocks |
Performance-wise, Finax’s five‑year back‑tested return sits at 6.8% annualised, which is just a hair below the S&P/ASX 200’s 7.2% over the same period. The difference is largely due to the low‑cost ETF mix and the occasional drag from bond allocations in the more conservative models.
One criticism that crops up in user reviews is the limited ability to pick and choose individual ETFs - the platform sticks to its pre‑curated list. For most novice investors this is a non‑issue; for those who want granular control, a traditional brokerage may be a better fit.
Getting Started and Practical Tips
Ready to give Finax a spin? Here’s a quick run‑through that gets you from zero to invested in under ten minutes.
- Download the Finax app (available on the Apple App Store and Google Play) or visit the website.
- Create an account using your email address and a strong password. You’ll be asked to verify your identity - a driver’s licence and a selfie are enough for ASIC compliance.
- Complete the risk questionnaire. Don’t overthink it; the algorithm is calibrated to translate your answers into a risk score.
- Choose a portfolio tier (Basic or Impact). If you’re unsure, start with the “Balanced” model - it offers a solid mix of Aussie and global equities with a modest bond component.
- Link a funding source. Finax supports direct debit from Australian banks, BPAY, and PayPal. Set up an automatic weekly contribution that aligns with your cash flow.
- Fund your account. The minimum is AUD 100, but rounding up daily purchases can quickly grow your balance without you noticing.
- Watch the dashboard. Finax sends a monthly performance snapshot and alerts you when rebalancing occurs (usually once every quarter).
Here are three pro‑tips that the community swears by:
- Take advantage of the “round‑up” feature: By linking a debit card, every purchase is rounded up to the nearest dollar and the spare change is invested automatically. Over a year, this can add thousands of dollars to your portfolio.
- Review your risk profile annually: Life changes - a new job, a mortgage, or a child - can shift your risk tolerance. Updating the questionnaire ensures your portfolio stays aligned.
- Consider the Impact portfolio for tax benefits: The ESG‑focused ETFs often have slightly lower turnover, which can reduce capital‑gains tax in a taxable account.
If you hit a snag, Finax offers a live chat within the app, plus a detailed help centre that covers everything from “How do I change my contribution?” to “What happens if I withdraw early?” The response time is typically under five minutes on weekdays.
FAQ
- Is Finax safe for my money? Yes. The platform is regulated by ASIC, holds client funds in a segregated trust account, and invests only in liquid, low‑cost ETFs.
- Can I withdraw anytime? Withdrawals are processed within two business days. There are no exit fees, but selling ETF shares may incur a small brokerage charge (currently AU$0).
- Do I need a superannuation account? No. Finax is a standalone investment account. You can also open an account under your existing super if you prefer.
- How does tax‑loss harvesting work? Finax monitors each position daily. When a holding drops more than 5% below its purchase price, the system may sell it to capture the loss, then rebuy a similar ETF to maintain allocation.
- Is there a mobile‑only version? The app provides full functionality - you can sign up, fund, and adjust settings without ever logging into a desktop site.
Next Steps & Troubleshooting
If after a month you notice your contributions aren’t showing up, double‑check that your bank’s outbound payment limits allow the amount you set. For PayPal funding, verify that your PayPal balance is sufficient; otherwise the platform will fall back to your linked bank.
Should you experience a login issue, clear your browser cache or reinstall the app. Finax’s two‑factor authentication can sometimes lock you out if your phone number changes - update it in the settings as soon as you get a new SIM.
Finally, keep an eye on the quarterly rebalancing schedule (usually the first week of March, June, September, and December). If you have an upcoming large contribution, timing it a week before rebalancing can smooth the process and avoid temporary allocation drift.
If you’ve followed the steps above, you now have a low‑cost, automatically managed investment portfolio that aligns with your risk appetite and financial goals. Whether you’re saving for a first home, a family vacation, or a comfortable retirement, Finax offers a frictionless way to put your money to work without the headaches of daily market monitoring.
Adarsha Foundation
September 22, 2025 AT 01:05Been using Finax for a year now, and honestly, it’s been the most stress-free investing experience I’ve had. I set up the round-up feature with my debit card and barely notice the money leaving my account. The app is clean, the updates are clear, and I’ve seen steady growth without having to lift a finger. Perfect for someone like me who’s busy but wants to build something long-term.
Alex Sherman
September 22, 2025 AT 08:150.35% fee? That’s cute. But have you looked at the underlying ETFs? Most of them are just cheap index trackers with zero alpha. If you’re serious about investing, you should be building your own portfolio with Vanguard or Schwab. This is financial automation for people who don’t want to learn anything. You’re paying for convenience, not returns.
Oliver Myers
September 22, 2025 AT 14:49I just signed up last week, and I’m already impressed! The onboarding was so smooth - I didn’t feel overwhelmed at all. The risk questionnaire felt thoughtful, not robotic. And the fact that they use Australian cloud servers? That’s a huge plus for me. I’ve had bad experiences with overseas platforms before, so this feels safe. Also, the round-up feature? Genius. I’ve already saved over $300 without trying!
John Concepcion
September 24, 2025 AT 00:29Oh wow, another robo-advisor that ‘makes investing easy’ - right up there with ‘crypto for beginners’ and ‘get rich with NFTs’. You’re literally handing your money to an algorithm that doesn’t even know if you’re broke or not. And you call this ‘smart investing’? Please. If you can’t handle reading a balance sheet, maybe don’t invest at all. Or better yet, just keep it in a jar under your bed.
Caitlin Stewart
September 24, 2025 AT 05:16As someone who just started investing after a major life change, Finax felt like a gentle nudge in the right direction. I was terrified of making mistakes, but the platform didn’t judge me for being new. The monthly emails are encouraging, not pushy. And the ESG option? It made me feel like my money was aligning with my values - not just growing. Small things, but they matter.
Emmalee Amthor
September 25, 2025 AT 01:376.8% returns? That’s nothing. I mean, I’ve been in crypto since 2017 and I’ve made 10x on a few coins - and I didn’t even have to think about it. Why are people still using these boring ETFs? It’s like driving a bicycle when you could be on a rocket. Also, tax-loss harvesting? That’s just a fancy way of saying ‘they’re trading for you’ - which means you’re paying someone to do what you could do yourself for free on Robinhood.
Leslie Schnack
September 25, 2025 AT 08:52Does anyone else notice how Finax’s ‘Impact’ portfolio is basically just greenwashing? ESG ETFs often have higher turnover than they claim, and their ‘impact’ metrics are super vague. Also, the minimum is $100 - great for beginners, but if you’re serious, you should be looking at direct index funds with lower fees. Still, for someone who’s never touched a brokerage account? It’s not bad.
Saumyata Tiwari
September 26, 2025 AT 02:27Why is everyone so excited about this? In India, we have platforms like Groww and Zerodha that give you full control, zero fees on equity ETFs, and real-time analytics. This Finax thing feels like a Western luxury product for people who don’t want to be bothered. And you’re paying 0.35%? That’s robbery in emerging markets. Stick to local platforms - they’re smarter, cheaper, and actually built for real people.
Anthony Tong
September 26, 2025 AT 10:04Let me guess - you’re also trusting this with your super? You do know that ASIC regulates the platform, but not the underlying ETF issuers, right? And what happens if the algorithm glitches during a market crash? Who’s liable? The company? The algorithm? Some intern in Sydney? And why is there no mention of counterparty risk with the custodian? This feels like a financial Ponzi scheme dressed in a clean UI. I’d rather keep cash under the mattress.