Review
Updated
Fact Checked
Eric McWhinnie
Axos Self-Directed Trading gives you control over a low-cost portfolio and addresses some of the concerns raised about the company’s Managed Portfolio -- specifically, there’s no minimum investment. Plus, you can open an individual, joint, or retirement account. Along with investing, Axos customers can also open free checking and savings accounts to manage all their money through one app. Read our Axos Self-Directed Trading review to see if this brokerage is right for you.
Open Account for Axos Self-Directed Trading
On Axos Self-Directed Trading's Secure Website.
Ratings Methodology
Rating image, 3.5 out of 5 stars.
3.5/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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The combination of commission-free stock and ETF investing, along with great banking features, makes this a strong option to consider for investors wanting to manage their finances under one roof.
Fees:
$0 stocks and ETFs
Account Minimum:
$0
Open Account for Axos Self-Directed Trading
On Axos Self-Directed Trading's Secure Website.
Full Axos Self-Directed Trading review
This stock broker is a good fit for: Experienced investors who want access to low-cost, self-directed investing integrated with comprehensive online banking and lending services.
Pros
- Commission-free equity trading and ETFs
- 10,000-plus mutual funds
- No minimum investment
Cons
- No access to human advisors
- Limited customer service
Top perks
Commission-free trading
With a free account, you can trade stocks and ETFs with zero commissions. You'll pay a $9.95 fee per trade for mutual funds trading.
No minimum investment
There's no minimum investment to open a self-directed investment account with Axos. (However, there's a $50 minimum to open an IRA and a $500 minimum to open a Managed Portfolio.)
Options and margin trading
Get access to advanced trading options for additional fees. Options trading is available with a free account, and you'll pay a $1 fee per trade ($0.80 with an Axos Elite subscription for $10 per month).
For access to margin trading, you'll have to subscribe to an Axos Elite account, and you'll pay 5.5% on trades.
Comprehensive financial services
Along with investing, Axos Bank offers many other financial services, including checking, savings, and money market accounts, plus mortgages, personal loans, and auto loan refinancing.
You can get access to these services with a free Axos account and manage them all in one place through the Axos app or your online banking account.
What could be improved
No human advisors
As a stripped-down, online-only financial services firm, Axos doesn't give customers access to human advisors. If you want guidance with your portfolio, you're better off using its Managed Portfolio and automated investment option directed by a robo-advisor.
Limited customer service
Customers can contact Axos customer service by sending a message through their account in the app, and non-customers can email customer support. Axos Self-Directed Trading doesn't offer in-person service or phone support, so you'll likely have to wait a day or two for a response.
How Axos Self-Directed Trading works
When you open an Axos Self-Directed Trading account, you'll get access to a trading platform that offers commission-free stock and ETF trades, plus more than 10,000 mutual funds. Approved members get access to options and margin trading. You can open an individual or joint taxable investment account; plus, you can open a self-directed IRA.
Minimum investment
There's no minimum investment needed to open a self-directed investment account. But you will have to invest at least $50 to open an IRA.
Services offered
With a free Axos Self-Directed Trading account you can open an individual or joint taxable investment account or apply for a traditional or Roth IRA. These accounts give you access to commission-free stock and ETF trades, and mutual funds trading.
For more perks, you can sign up for an Axos Elite membership for $10 per month. The membership gets you a reduced fee on options contracts, plus access to margin trades, extended market hours until 7 p.m. (Eastern), and real-time market data.
If you prefer hands-off investing, you can open a Managed Portfolio, rather than an Axos Self-Directed Trading account. These automated portfolios include automatic rebalancing and can adjust based on your goals and timeline.
In addition to the brokerage, Axos offers many other financial services, so you can manage your money all through one app. Get access to checking, high-yield savings, and money market accounts, as well as mortgages, personal loans, and auto loan refinancing.
Pricing and fees
Here are the main fees to keep in mind for an Axos investment account:
| Service | Basic Axos Cost | Axos Elite Cost |
|---|---|---|
| Monthly fee | $0 | $10 |
| Annual custodial fee for IRA | $60 | $60 |
| Stock trades | $0 | $0 |
| ETF trades | $0 | $0 |
| Options contracts | $1 | $0.80 |
| No-load mutual fund trades | $9.95 | $9.95 |
| Margin trades | n/a | 5.5% |
Data source: Axos.
Alternatives to Consider
We recommend comparing brokerage options to ensure the account you're selecting is the best fit for you. To make your search easier, here's a short list of our best trading platforms of 2024.
| Account | Fees | Account Minimum | |
|---|---|---|---|
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Featured Offer
Rating image, 4.5 out of 5 stars.
4.5/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
$0 for stocks, ETFs, and options; $5 monthly for Robinhood Gold | $0 | |
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$0 for stocks, $0 for options contracts | $0 | |
Rating image, 5.0 out of 5 stars.
5.0/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
$0 commission for online U.S. stock and ETF trades; trade fractional shares for as little as $1 | $0 |
If you want managed investing: Betterment offers low-cost automated investing with no minimum investment balance.
Customer service and support
Customers can contact Axos customer support anytime by logging into their account online or in the app and sending a message. Non-customers can get in touch by emailing [email protected].
Axos is an online-only firm, so you don't have access to brick-and-mortar branches for support, and it doesn't list a customer service phone number to speak with a representative.
Similarly, Axos Self-Directed Trading customers don't have access to human advisors for account questions.
Axos Self-Directed Trading is right for you if:
- You're an experienced investor.
- You want investing, banking, and lending services under the same roof.
- You want access to advanced trading options for a low fee.
- You're an Axos Bank customer and want to keep using its services.
Our Brokerages Experts
Dana Sitar (@danasitar) has been writing and editing since 2011, covering personal finance, careers, and digital media. She trains journalists, writers, and editors on writing for the web and has written about finance and careers for publications including The New York Times, HuffPost, and a column for Inc. Magazine.
Cole Tretheway is a full-time personal finance writer whose articles have been featured on The Ascent and The Motley Fool. He has a degree in English with a Certificate in Professional and Technical Communication from California Polytechnic University, SLO.
Fact Checked
Eric McWhinnie
Eric McWhinnie has been writing and editing digital content since 2010. He specializes in personal finance and investing. He also holds a bachelor’s degree in Finance.
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Fidelity disclosure
Fractional share quantities can be entered out to 3 decimal places (.001) as long as the value of the order is at least $1.00. Dollar-based trades can be entered out to 2 decimal places (e.g. $250.00)
Robinhood disclosure
All investments involve risk and loss of principal is possible.
Securities are offered through Robinhood Financial LLC, member FINRA/SIPC. Cryptocurrency services are offered through an account with Robinhood Crypto, LLC (NMLS ID 1702840). Robinhood Crypto is licensed to engage in virtual currency business activity by the New York State Department of Financial Services. Cryptocurrency held through Robinhood Crypto is not FDIC insured or SIPC protected. For more information see the Robinhood Crypto Risk Disclosure.
Trades of stocks, ETFs and options are commission-free at Robinhood Financial LLC. Other fees may apply. Please see Robinhood Financial’s Fee Schedule to learn more.
Fractional shares are illiquid outside of Robinhood and are not transferable. Not all securities available through Robinhood are eligible for fractional share orders. For a complete explanation of conditions, restrictions and limitations associated with fractional shares, see the Fractional Shares section of our Customer Agreement.
Robinhood Gold is an account offering premium services available for a $5 monthly fee. Not all investors will be eligible to trade on Margin. Margin investing involves the risk of greater investment losses. Additional interest charges may apply depending on the amount of margin used. Bigger Instant Deposits are only available if your Instant Deposits status is in good standing.