Axos

Axos
WikiStocks Rating	⭐⭐⭐
Fees	Advisory Fees:Up to 0.35%
Minimum Deposit	CDs account:$1000,No Fee Checking Account,$0 For Tradable Securities Invest
Interests on uninvested cash	1.23%
Mutual Funds Offered	Yes
Platform/APP	Axos All-In-One Mobile App
Promotion	Refer to friend and get $50 payback

Axos Information

　　Axos offers a financial platform with no fees for checking accounts and a minimum deposit of $1,000 for CDs. The platform provides a 1.23% interest rate on uninvested cash and offers mutual funds. Users can manage their finances through the Axos All-In-One Mobile App, which combines banking and investment services into a user-friendly experience.

Pros & Cons

　　Pros:

　　Axos is regulated by FINRA, ensuring adherence to strict financial industry standards. It offers multiple investment services, including savings and checking accounts, meeting various financial needs. The unique Axos All-In-One Mobile App provides a user-friendly experience for managing finances. Additionally, Axos boasts 24/7 customer support, ensuring help is always available.

　　Cons:

　　The platform can be complex for new beginners, potentially making it challenging for those without prior experience in managing finances.

Is Axos Safe？

　　Regulations:

　　Axos is regulated by the Financial Industry Regulatory Authority (FINRA) in the United States. FINRA, established in 2007, is a merger of the National Association of Securities Dealers (NASD) and the New York Stock Exchange Regulation. It strengthens investor protection and market integrity by overseeing the trading practices of over-the-counter markets and investment banks. Axos holds licenses CRD#: 172393/SEC#: 8-69507 under FINRA and CRD # 150953/SEC#: 801-79951 under the U.S. Securities and Exchange Commission (SEC), ensuring robust regulatory oversight.

　　Funds Safety:

　　Client funds at Axos are insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000 for individual accounts and $500,000 for joint accounts. Additionally, Axos offers expanded coverage up to $240 million through the Axos Bank InsureGuard+ Savings from IntraFi® Network DepositsSM, providing significant protection for customer deposits.

　　Safety Measures:

　　Axos employs advanced encryption technologies to ensure the security of funds and personal information. The platform implements robust security practices, including biometric authentication (fingerprints, voiceprints, and facial recognition), to prevent unauthorized access.

　　Axos also provides fraud prevention measures and educates customers on strategies to protect their identity and data. The banks commitment to security is further reinforced by 24/7 customer support and proactive account monitoring to safeguard against potential threats.

What are securities to trade with Axos？

　　Axos offers a variety of securities for trading, meeting diverse investment needs.

　　Stocks:

　　Axos allows investors to trade a wide range of stocks, providing access to both major and minor companies across various industries. Trading stocks can offer potential for capital appreciation and dividend income, making them a popular choice for building and diversifying investment portfolios.

　　Bonds:

　　Axos offers bond trading, enabling investors to purchase government, corporate, and municipal bonds. Bonds can provide a steady income stream through interest payments and are generally considered lower-risk investments compared to stocks, making them suitable for risk-averse investors seeking portfolio stability.

　　Mutual Funds:

　　Investors can trade mutual funds through Axos, which pool money from multiple investors to purchase a diversified portfolio of stocks, bonds, and other securities. Mutual funds offer professional management and diversification, making them an attractive option for those seeking broad market exposure without the need for active management.

　　Exchange-Traded Funds (ETFs):

　　Axos provides access to a variety of ETFs, which are investment funds traded on stock exchanges, similar to stocks. ETFs offer the diversification of mutual funds but with the flexibility of stock trading, allowing investors to buy and sell shares throughout the trading day at market prices.

　　Options:

　　Axos supports options trading, allowing investors to buy and sell options contracts on various underlying assets, such as stocks and ETFs. Options can be used for hedging, income generation, or speculative purposes, offering sophisticated strategies for managing risk and leveraging positions.

Axos Account Review

　　Axos offers various personal and premium banking accounts, including Essential, Rewards, and Cashback Checking, High Yield Savings, CDs, and specialized accounts for teens and seniors, all with competitive rates and minimal fees.

　　Personal Checking Accounts:

• Essential Checking - Offers early direct deposit, unlimited domestic ATM fee reimbursements, no monthly maintenance fees, no overdraft or non-sufficient funds fees, and no monthly balance requirements.
• Rewards Checking - Provides up to 3.30% APY, unlimited domestic ATM fee reimbursements, no monthly maintenance fees, no overdraft or non-sufficient funds fees, and no monthly balance requirements.
• Cashback Checking - Earns up to 1.00% cash back on signature-based purchases, unlimited domestic ATM fee reimbursements, and no monthly maintenance fees.


　　Specialized Accounts:

• First Checking - Designed for teens aged 13-17, offering 0.10% APY and joint account management with an adult.
• Golden Checking - Tailored for customers 55 and older, providing 0.10% APY, no fees, and complimentary checks.


　　Personal Savings Accounts:

• High Yield Savings - Offers up to 0.61% APY, no monthly maintenance fees, and no minimum balance requirements.
• High Yield Money Market - Combines the benefits of savings and checking accounts with up to 0.25% APY, check-writing privileges, and no monthly maintenance fees.

　　Certificates of Deposit (CDs):

• Provides terms ranging from 3 to 60 months, no setup or maintenance fees, and can be opened for as little as $1,000.


　　Premium Banking Accounts:

• InsureGuard+ Savings - Offers multimillion-dollar FDIC insurance, competitive rates, and maintains a single bank relationship for expanded coverage.
• Private Client Banking - Provides premium checking and savings with no banking fees, high transaction limits, and Priority Pass Lounge access.
• World Checking & Savings - Features international fee reimbursements, competitive rates, and unlimited check writing for VIP banking worldwide.


Axos Fee Review

　　Axos Invest offers competitive advisory fees, a reasonable account minimum, features including tax-loss harvesting and automatic rebalancing, and flexibility in choosing individual asset classes.

　　Axos Invest Fee Structure:

• Advisory Fees: 0.24% annually for managed portfolios.
• Account Minimum: $500 for Axos Invest Managed Portfolios.
• Other Fees: Commissions, service fees, and exception fees applies. Specific details on these fees can be found in Axos Invests ADV Part 2A, Client Disclosure Brochure, Fees, and Compensation section.


Feature	Axos Invest	Betterment	Wealthfront	Fidelity Go
Advisory Fees	0.24%	0.25%	0.25%	Up to 0.35%
Account Minimum	$500	$0	$500	$10
Tax-Loss Harvesting	Yes	Yes	Yes	No
Automatic Rebalancing	Yes	Yes	Yes	No
Number of Asset Classes	Over 30	Up to 14	Up to 11	6 to 8
Exclude ETFs for Wash Sales	Yes	Yes	No	No
Choose Individual Asset Classes	Yes	Yes	No	No
Taxable Accounts	Yes	Yes	Yes	Yes
Traditional IRA	Yes	Yes	Yes	Yes
Roth IRA	Yes	Yes	Yes	Yes

Axos Trading Platform Review

　　The Axos All-In-One Mobile App serves as a financial tool that integrates banking, borrowing, investing, and financial planning into a single, user-friendly platform.

　　It allows users to monitor personal and business finances, pay bills, deposit checks, transfer money, and manage investments on the go. The app features credit score monitoring, personal finance management, and 24/7 support through a virtual financial assistant.

　　Security is prioritized with biometric identification, 2-step authentication, SSL encryption, account monitoring, and automatic logout.

　　Additionally, the app supports mobile check deposits, direct deposits, bill payments, wire transfers, and includes options for opening and managing both personal and business accounts.



Promotion

　　Axos Bank offers a referral program where you can earn $50 by referring friends to open an Essential Checking or Rewards Checking account.

　　Your friend also receives $50 once they meet the requirements. To qualify, the referred friend must use your unique referral link to open an account and receive at least $1,000 in direct deposits within 90 days.

　　Both you and your friend will receive the referral bonus deposited into your accounts within 7 business days of the statement cycle end once eligibility criteria are met. This promotion allows unlimited referrals, making it a rewarding opportunity for both existing and new customers.



Research & Education

　　Axos provides a suite of research and educational tools designed to empower users in their financial journey.

　　These tools include the Personal Finance Manager, which offers a complete financial snapshot to track spending, savings, and investments, and Credit Score Monitoring to keep users informed about their credit health.



　　The Axos FundFinder+ tool helps investors discover, research, and compare mutual funds and ETFs with professional-level insights. Additionally, Axos offers a library of financial calculators, such as APY and mortgage calculators, to aid in financial planning and decision-making.



　　The platform also features educational articles and guides on various topics, including savings strategies, personal finance tips for teens, emotional money management, and cybersecurity measures to protect against wire fraud. These resources are designed to help users make informed financial decisions, whether they are managing everyday expenses or planning long-term investments.



Customer Support

　　Axos provides customer support tailored to meet the needs of its clients. The Personal Banking team is available 24/7 by phone at 1-888-502-2967, ensuring assistance is always accessible.

　　For loan servicing, team members can be reached at 1-866-923-7112 from 8 a.m. to 5 p.m. PT, Monday through Friday, excluding federal holidays.

　　Additionally, Axos offers a range of online resources, including tutorials, how-to videos, and guides for new accounts and loans to help customers manage their finances effectively.

　　Customers can also access FAQs, loan payment assistance, and an ATM locator through the Axos website. For further support, customers can chat with Evo, the virtual financial assistant, or send secure messages via the app.



Conclusion

　　Axos is a online financial platform offering a wide range of services, including personal and business banking, investing, and loan management, all accessible through its user-friendly mobile app.

　　With 24/7 customer support, competitive rates, and robust security measures, Axos provides a secure banking experience tailored to meet the diverse needs of its clients.

FAQs

　　How can I open an account with Axos？

　　You can open an account online through the Axos website or mobile app by following the step-by-step application process.

　　Is Axos Bank FDIC insured？

　　Yes, all deposit accounts through Axos Bank are FDIC insured up to $250,000 per depositor, providing peace of mind for your savings.

　　What types of accounts can I open with Axos？

　　Axos offers various accounts, including Essential Checking, Rewards Checking, High Yield Savings, CDs, and specialized accounts for teens and seniors, as well as business accounts and investment options.

Risk Warning

　　The information provided is based on WikiStock's expert evaluation of the brokerage's website data and is subject to change. Besides, online trading entails substantial risks, potentially leading to total loss of invested funds, so comprehending associated risks before engaging is crucial.