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Axos Financial Self-Directed Trading Review


ConsumersAdvocate.org Rating: 3.9 / 5 (Very good)
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Founded in 2015, Axos is a multi-faceted financial institution that offers savings and checking accounts, personal and commercial loans, and online trading of stocks, mutual funds, ETFs and stock options. The company offers commission-free, self-directed stock trading of thousands of stocks listed on the S&P 500, NASDAQ, and NYSE exchanges and low fees on trading mutual funds and options. Axos is headquartered in Las Vegas, Nevada.
 
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How is Axos rated?

Breakdown

4.0/5
Investment Products
4.5/5
Features
4.0/5
Pricing and Fees
3.5/5
Customer Support and Reputation

Overall Rating: 3.9 / 5 (Very good)

Axos offers commission-free trading of thousands of stocks listed on multiple exchanges. You can also trade over 2,000 ETFs and 10,000 no-load mutual funds on the platform.

The Axos platform is well-suited to investors who are confident in their ability to make stock choices and trade and offers them complete control of their portfolios.

The platform is open to investors over the age of 18 who have a permanent U.S. address* and a Social Security number, H-1B visa holders are also welcome. Opening an account with Axos is a speedy process, with many accounts approved in the same day. You can begin trading as soon as your deposited funds have cleared in your account.

Axos Features

Features - 4.5 / 5

Axos offers investors a vast array of investment choices, including stocks traded on US exchanges such as the S&P 500, the New York Stock Exchange, and the NASDAQ. You can also trade mutual funds and ETFs on the platform. So it's easy to build a diversified portfolio using the platform.

Most trades are commission-free, which reduces the cost of investing versus investing through a traditional stock broker. Trading options and mutual funds do involve paying fees: $1 per option contract and $9.95 per mutual fund trade. You can trade 24 hours a day, seven days a week through Axos.

Axos offers a mobile app, where customers can make trades and manage all of their Axos accounts in one place, 24/7.
Portfolio Management
Self-Directed
Investment Products
Stocks
ETFs
Options
Mutual Funds
Types of Accounts
Membership
IRA
Checking
Savings
Mobile App
Yes

Financial Advisors

Axos self-directed accounts are just that. While the company provides some tools for investors, account holders do not have the benefit of working with financial advisors. Basically, when you open an account, you're on your own in making investment decisions. This is one way the company can offer low-cost services.

Trading Tools

Axos invites investors to purchase an Elite membership for $10 per month. Membership gives you access to TipRanks™ — a platform that collects, appraises, and ranks the stock recommendations from thousands of financial analysts. It includes trending stock data and other tools including stock scores, portfolio trackers, and the ability to track your favorite experts’ advice.

Axos Fees and Commissions

Pricing and Fees - 4 / 5

Axos doesn't charge commissions when you trade the multiple investment products you can access through the company's portfolio. Mutual funds and options are the exception. Mutual fund trades are assessed a fee of $9.95 each. Option trading comes with a $1 fee per contract.

There is no minimum investment to open an Axos account, though te company recommends an initial deposit of $500. There is also a $50 fee to open an IRA through the company.
Trade Cost/Commission
0
Minimum to Open Account
0

Axos Financial Strength and Customer Experience

Customer Support and Reputation - 3.5 / 5

Axos earns a C rating from the Better Business Bureau. Consumers who review the company on Trustpilot award the company just 2 out of 5 stars, which amounts to a poor rating. Customers complain of poor customer service, but to be fair, many complaints have to do with Axos products other than its self-directed investment platform. We also noted that customers complained of not receiving promotional bonuses promised when they opened an account.

Axos doesn't publish a Contact Us page, though we were able to glean from other sources that you can contact the company by phone or via email. The company also offers a proprietary app, through which customers can manage all of their Axos accounts in one place. Axos doesn't list its customer service hours but we can assume that there is no 24/7 customer service available.
Year Founded
2015
Moody's Financial Rating
Baa2
SIPC Membership
Yes
BBB Rating
C
BBB Total Complaints
14
BBB Resolved Complaints
14
Trust Pilot Rating
2.0 out of 5
Consumer Financial Protection Board (CFPB) Complaints
3
Live Help 24/7
No
Customer Support Hours
Not stated
Contact Methods
Phone
Email
Date Collected
2023-08-30

Company Profile

Full Name
Axos Financial Self-Directed Trading
Company Website
https://axos.com
Headquarters
9205 W Russell Rd STE 400, Las Vegas, NV, 89148

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Our Partner

No minimum amount needed to open an account

  • $9.95 fee per mutual fund trade
  • Trade thousands of S&P 500, NASDAQ and NYSE
  • Get access to real-time date and margin trading
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