HOW CAN WE ASSIST YOU?

Finax invests your funds in a way that aims to minimize your tax obligations. We utilize various tax benefits provided by the current legislation. However, to ensure a complete tax exemption when withdrawing funds or ending your investment, it is important to follow the proper procedures, which we will inform you about.

Please note that these tax benefits apply to Slovak tax residents. If you pay taxes in another country, we recommend checking the tax implications specific to your country of residence.

In managing your assets, we employ a combination of tax strategies based on the current legislation. You can find more detailed information about these strategies here.

Please keep in mind that these tax strategies are applicable to Slovak tax residents. If you pay taxes in another country, we recommend reviewing the tax implications specific to your country of residence.

Profits from regular mutual funds offered by Slovak asset management companies and banks are subject to a withholding tax upon sale. By investing in ETFs traded on the stock exchange, you can save 19% of your earnings compared to non-exchange-traded funds. You can find more information about tax reliefs here.

Example: Let's say you invest 10,000 euros in mutual funds and another 10,000 euros in ETFs traded on the stock exchange. Assuming both investments generate an annual return of 8% over the next 10 years, the value of each investment at the end of the period would be 21,600 euros. The profit would then amount to 11,600 euros. In the case of ETFs, the entire 11,600 euros would be yours to keep. However, if you invested in mutual funds, you would be required to pay 19%, or 2,204 euros, in taxes. Therefore, your net profit would be 9,396 euros.

Please note that these calculations are based on Slovak tax residency. If you pay taxes in another country, we recommend checking the tax implications specific to your country of residence.

Finax offers a comprehensive discount system that can reduce your account management fees.

Check the ongoing promotions to obtain even higher discounts.

If you recommend our services to your friends, both you and your friend can enjoy 1,000 euros of savings managed free of charge. The discount will be applied from the date of your friend's first deposit for a period of three years or until your friend makes the first withdrawal from the account. You can invite your friends to Finax using the unique invitation link in the app or web account overview. For more information, click here.

If you transfer your investment to us, we will reward you. Whether you are currently investing through another securities dealer, own fund units, have an investment property, or hold investment life insurance, if you decide to transfer your investment to us, we will manage 50% of the transferred investment amount at no charge. The discount will be applied for two years or until the first withdrawal from your account. To qualify for this discount, provide us with an account statement showing the withdrawal or termination of the contractual relationship and the amount within 30 days after terminating the investment. This discount applies to transferred investments with a value exceeding 1,000 euros. Example: If you own shares in a mutual fund managed by a Slovak fund manager worth 30,000 euros and you decide to sell your shares and deposit 30,000 euros with us, we will manage 50% (15,000 euros) of the deposit free of charge for a period of two years or until your first withdrawal.

Finax charges an annual fee of 1% + VAT on the value of assets under management (the total value of assets, i.e., securities and cash). The fee is charged monthly.

We also offer various discounts on the portfolio management fee. For instance, if you refer a friend who opens an account, we will manage 1,000 euros of your savings at no charge.

Check the ongoing promotions to obtain even higher discounts.

Here's an example: You have invested 20,000 euros and referred a friend who invested 10,000 euros. Both you and your friend have a discount of 1,000 euros. Assuming the month in question has 30 days and the value of your account remains unchanged over time, the monthly fee would be calculated as follows:
(20,000 - 1,000) * 0.012 * (30/365) = 18.74 euros.

To find your account number, log in to Finax, where you see the accounts you have. Clicking on the account will show you the account details. One of the items is the account number.

To deposit money into your account, you should transfer funds from your bank account held in a European bank under your name. Generally, funds will be credited to your account on the next business day. Finax executes portfolio trades on a weekly basis.

The minimum deposit for a one-time investment is 10 euros.
The minimum deposit for regular monthly investments is 10 euros.

To ensure prompt crediting of your deposit to your account, please use the correct variable symbol. The payment instructions are as follows:


If you have cash, we recommend depositing it into your account first and then transferring the funds to us to avoid suspicion of money laundering.

Finax invests your funds in a way that aims to minimize your tax obligations. We utilize various tax benefits provided by the current legislation. However, to ensure a complete tax exemption when withdrawing funds or ending your investment, it is important to follow the proper procedures, which we will inform you about.

Finax is a participant in the deposit guarantee scheme through the Investment Guarantee Fund, providing protection for your assets up to 50,000 euros. As a securities broker, we adhere to strict regulations governing the management of your assets and ensure a clear separation between your assets and our company's assets. For more information, please visit the page www.garancnyfond.sk.

In the upper right corner, click on „Login“. Below, you will find a link labelled „Forgotten password?“. Please follow the instructions provided.

The minimum deposit for a one-time investment is 10 euros.
The minimum deposit for regular monthly investments is 10 euros.

Finax offers the following unique solutions:

• A transparent model of investing in specific ETFs - a broad equity basket and a conservative bond portfolio.
• Minimal fees for portfolio management, including zero fees for purchases/sales, performance, rebalancing, and more.
• We strive to maximize returns and are unaware of any other product that can provide a better return in the long run.
• Tax-smart approach.
• Automated rebalancing.
• Option to buy fractional shares – we can purchase positions consisting of less than one ETF unit for you, creating a quality, diversified portfolio even with a minimum deposit.
• A user-friendly environment.

The account opening process consists of three main steps:

To begin, click the „Let's Start“ link located at the top right corner of the page. We will ask you a series of simple questions to understand your goals and assess your knowledge, experience, financial situation, and risk tolerance, as required by law. After the last question, we will present you with the recommended investment plan.

We will show you the recommended composition of your portfolio to help you achieve your goals. Carefully review the plan. If you are not satisfied, you can make changes, but please note that changes can only be made to reduce the level of risk, not to increase it. If you are satisfied with the plan, proceed to sign up.

If you like our plan, you can proceed to open your account. Here, we will ask for your personal information and other necessary data, as required by law. We will then provide you with the contract to review and agree on the method of verifying your identity.

You can find instructions on how to deposit funds into your account here.

To make investing more understandable, we align it with specific goals. Examples of goals include retirement savings, savings for children, and more. If you prefer to invest without a specific goal, you can choose the option of wealth building. If you are interested in investing in specific companies traded on the stock exchange, you can open an account for purchasing global stocks.

If you have multiple investment goals, you can create separate accounts for each goal by clicking on "Open a new account" after signing in to your account.

Popular goals include:

Save for your retirement through one-time deposits or regular monthly payments. Learn more about retirement savings here.

Save for your children's or grandchildren's financial future to grant them a solid foundation to start their independent lives. We set the risk based on their age and the savings timeframe. Specify the amount you would like to save regularly (or deposit in a lump sum), and we will provide guidance on what final amount you can roughly expect. Alternatively, you can set the target amount, and we will inform you of the necessary initial or regular deposits required to reach your goal.

Create a short-term emergency fund to cover six months of your income or any amount you specify. Set the desired timeframe for building the fund, and we will guide you on how to achieve it. Given the nature of the investment, funds will be allocated more conservatively.

If you are planning to purchase a costly item or a property, prepare for it responsibly by starting to save as early as possible. We will optimize the risk and propose a suitable investment allocation.

If you don't have a specific goal in mind, wealth building can be your primary objective. This is an excellent goal for future needs that are currently unknown or for passing money on to future generations. We will determine the optimal risk profile for you, and if you decide to create a specific goal later, we can adjust the risk settings accordingly.

Anyone over the age of 18 who is a resident of the European Union can open an account. Legal representatives can also open accounts for their children.

Yes, you can open as many accounts as you want, as long as you meet the minimum deposit requirements for each account. Many of our clients have multiple accounts for different goals, such as retirement savings, savings for children, and more.

Payments into each account should be made separately, with a variable symbol linked to the specific account.

The minimum deposit for a one-time investment is 10 euros.
The minimum deposit for regular monthly investments is 10 euros.

a) President of a country, Prime Minister, Deputy Prime Minister, Minister, Head of State Administration, State Secretary or similar Representative of the Minister,
b) a member of the legislative assembly,
c) a judge of the Supreme court of Slovak Republic, a judge of the Constitutional court of Slovak Republic or other members of the highest judicial authorities against decisions of which can no longer be appealed except in special cases,
d) a member of the Court of Auditors or the Board of the Central Bank,
e) ambassador, chargé d'affaires,
f) a high-ranking member of the armed forces, armed corps and armed security forces,
g) a member of a management body, supervisory body or control body of a State enterprise or a State-owned company,
h) leading representatives of prosecution office,
i) persons holding important public offices of national or regional importance or office of similar importance in EU institutions or international organizations,
j) a member of the statutory body of a political party or a political movement,
k) a person in a similar professional function conducted in the institutions of the European Union or in international organizations.

a) husband, wife or a person, which has a similar status as a husband or a wife of the person, which holds a prominent public function,
b) child, son in law or daughter in law of a person holding an important public office or a person who has a similar position as a son in law, daughter in law, or
c) the parent of a person that holds a prominent public function.

a) you have allowed access to camera in the pop-up window/ on mobile phone by pressing "Allow" (the functionality may slightly differ among different browsers and smartphones)
b) you are making the registration on a screen that has a camera (if you are using multiple screens, drag the web browser window to the screen with camera)
c) the camera is not covered with tape for security reasons,
d) the use of camera is allowed in the settings of your browser. Here is a guide on how to find the browser settings: Chrome, Firefox, Safari.

a) you are uploading the type of document that you have selected from the allowed document types
b) all four corners of the document were positioned in the frame and the document is not askew
c) you are not covering a part of the text or photo with your fingers
d) the uploaded image is not blurred
e) there is not a window or a too bright background behind the document while taking the photo

a) the photo or uploaded image is not blurred
b) the photo corresponds to the photo on your identity card
c) your face is not covered, you do not wear sunglasses and there are no other people around you
d) there is not a window or too bright background behind you

a) you do not have a headgear or glasses on,
b) if you wear glasses on your identity card photo, try to do the live verification with and without glasses,
c) during the live verification, do not move your head, you only have to follow the red dot with your eyes.

Finax charges an annual fee of 1% + VAT on the value of assets under management (the total value of assets, i.e., securities and cash). The fee is charged monthly.

We also offer various discounts on the portfolio management fee. For instance, if you refer a friend who opens an account, we will manage 1,000 euros of your savings at no charge.

Check the ongoing promotions to obtain even higher discounts.

Here's an example: You have invested 20,000 euros and referred a friend who invested 10,000 euros. Both you and your friend have a discount of 1,000 euros. Assuming the month in question has 30 days and the value of your account remains unchanged over time, the monthly fee would be calculated as follows:
(20,000 - 1,000) * 0.012 * (30/365) = 18.74 euros.

The portfolio management fee is calculated on a continuous monthly basis. Each day, we calculate a charge based on 1/365 (or 1/366 during a leap year) of the annual fee, taking into account the value of your account on that particular day. At the end of the month, we sum up the daily charges and apply them to your account.

Example: Let's say you have invested 20,000 euros. Assuming the month has 30 days and your account's value changed over time as follows: the first 15 days it was 20,000, the next 5 days it was 20,500, and the last 10 days it was 20,300.

20,000 * 0.012 * 15/365 + 20,500 * 0.012 * 5/365 + 20,300 * 0.012 * 10/365 = 19.91 euros.

No, you do not have to pay any extra fees if you decide to close your account.

Finax offers a comprehensive discount system that can reduce your account management fees.

Check the ongoing promotions to obtain even higher discounts.

If you recommend our services to your friends, both you and your friend can enjoy 1,000 euros of savings managed free of charge. The discount will be applied from the date of your friend's first deposit for a period of three years or until your friend makes the first withdrawal from the account. You can invite your friends to Finax using the unique invitation link in the app or web account overview. For more information, click here.

If you transfer your investment to us, we will reward you. Whether you are currently investing through another securities dealer, own fund units, have an investment property, or hold investment life insurance, if you decide to transfer your investment to us, we will manage 50% of the transferred investment amount at no charge. The discount will be applied for two years or until the first withdrawal from your account. To qualify for this discount, provide us with an account statement showing the withdrawal or termination of the contractual relationship and the amount within 30 days after terminating the investment. This discount applies to transferred investments with a value exceeding 1,000 euros. Example: If you own shares in a mutual fund managed by a Slovak fund manager worth 30,000 euros and you decide to sell your shares and deposit 30,000 euros with us, we will manage 50% (15,000 euros) of the deposit free of charge for a period of two years or until your first withdrawal.

Yes, you can combine our discounts. However, when registering through a special link (referral by a friend, affiliate link, or other special promotion), only one discount can be used. Nonetheless, this means that you could potentially have the entire account managed for free!

Finax does not charge a fee for investment advice, but you may be charged a fee by the distributing financial agent. The financial agent's fee for providing investment advice may be deducted from your investment account held with Finax.

The maximum investment advisory fee is 4% of the deposit value. The fee can be paid upfront from the target total deposit amount (express), gradually from the target amount (accelerated), or on an ongoing basis from each deposit (standard).

When investment advice is provided by a financial agent, they should, as much as possible, suggest the most suitable product for you based on your circumstances from the various financial products available.

Finax was established by its two founders, Juraj Hrbatý and Radoslav Kasík. They worked together to develop the entire concept and currently make strategic decisions and shape the company's future direction. Finax is owned by one of its founders, Juraj Hrbatý. In August 2019, Finax received an investment from Growws Sicav, a.s., a Slovak-owned venture fund. As a result, we are a Slovak company with Slovak management and owners, and we pay taxes in Slovakia.

We have made every effort to enable you to invest without the need to fit personal meetings into your schedule. However, we understand that your deposited savings represent a significant amount of your hard work. If you insist on meeting us in person, we are more than open to arranging a meeting. Please schedule it with us by phone, and we will be happy to introduce you more closely to the company and its people, hopefully convincing you that you can trust our team with your savings.

Our capital amounts to 750,000 euros. Similar to banking, brokers must maintain sufficient resources to cover the risks associated with their business operations. This is one of the fundamental parameters monitored by the National Bank of Slovakia.

To deposit money into your account, you should transfer funds from your bank account held in a European bank under your name. Generally, funds will be credited to your account on the next business day. Finax executes portfolio trades on a weekly basis.

The minimum deposit for a one-time investment is 10 euros.
The minimum deposit for regular monthly investments is 10 euros.

To ensure prompt crediting of your deposit to your account, please use the correct variable symbol. The payment instructions are as follows:


If you have cash, we recommend depositing it into your account first and then transferring the funds to us to avoid suspicion of money laundering.

Normally, your deposit will be processed on the next business day after it is received. We execute purchases on stock exchanges every week, typically on Tuesdays. However, we reserve the right to adjust the trading day if it coincides with a holiday in Slovakia, Germany, or other countries where we operate. Deposits that are processed by the previous Friday will be invested.

Example: If you initiate a transfer order from your bank on Wednesday, the funds will be in our collective account on Thursday, and you will be able to see the transaction online in your account on Friday. Investments are usually carried out the following Tuesday, and you will be able to see them in your account on Wednesday.

The minimum deposit for a one-time investment is 10 euros.
The minimum deposit for regular monthly investments is 10 euros.

Currently, we accept transfers to our bank account as a form of deposit. Clients who already own securities traded on European stock exchanges can also transfer these securities to us. If you are in this situation, please contact our Customer Service department at client@finax.eu for advice on how to proceed. We are working towards being able to accept card payments in the future as well. Cash deposits are only accepted in exceptional cases and under the condition that the client can provide a proof of origin of the funds.

Finax will not penalize you if you stop depositing money on a regular basis, either permanently or temporarily. However, it's important to note that by doing so, you will likely not save enough to reach your target amount.

You can send amounts over 1000 euros at any time. We recommend sending amounts of 1000 euros and less monthly in the same amount. However, if you decide otherwise, we will not penalize you for it.

Both sales and purchases are executed on the same day. Withdrawal instructions received by 12 PM on the working day preceding the trading day (usually a Monday) will be processed and executed during that week. It then takes 2 working days for the stock exchange to transfer the proceeds to our account, which is held for these purposes with a foreign manager. Therefore, selling the investment and sending the funds to your account may take 3-10 days.

We send the money to the current account held in your name from which you sent us the funds. If you would like the funds to be sent to another account, it is necessary to verify the withdrawal form with a notary.

To find your account number, log in to Finax, where you see the accounts you have. Clicking on the account will show you the account details. One of the items is the account number.

Finax offers the following unique solutions:

• A transparent model of investing in specific ETFs - a broad equity basket and a conservative bond portfolio.
• Minimal fees for portfolio management, including zero fees for purchases/sales, performance, rebalancing, and more.
• We strive to maximize returns and are unaware of any other product that can provide a better return in the long run.
• Tax-smart approach.
• Automated rebalancing.
• Option to buy fractional shares – we can purchase positions consisting of less than one ETF unit for you, creating a quality, diversified portfolio even with a minimum deposit.
• A user-friendly environment.

Savings accounts at banks contain guarantees that your funds will not lose value. However, this also means that their interest rates are typically very low, often failing to keep up with inflation. Hence, the purchasing power of your savings will likely decrease over time. In contrast, investing in an account with Finax offers the potential for higher returns. While the account's value may fluctuate in the short term, you have the ability to adjust the level of risk according to your preferences, and in the long run, it is highly likely that you will earn significantly more compared to a traditional bank savings account.

Absolutely! You can invest as a company. Please feel free to contact our Customer Service Support, and we will provide you with guidance on how to proceed.

Your portfolio consists of ETFs (Exchange Traded Funds) that replicate the performance of the world's largest economies. Depending on your risk level, you will own up to 6 equity ETFs and up to 4 bond ETFs, representing 80% of the global economy. The ETFs in your portfolio are designed to track the performance of the following:

1. US stocks of large companies
2. US stocks of medium-sized companies
3. US stocks of small companies
4. European large and mid-sized companies
5. European small companies
6. Stocks of companies from emerging countries
7. Global government bonds
8. European corporate bonds
9. European high-yield bonds
10. Government bonds of emerging countries

An ETF (Exchange Traded Fund) is a basket of stocks or bonds that replicates the performance of an index, commodity, or other investment instruments. ETFs, unlike mutual funds, are traded on the stock exchange. One of the primary advantages of ETFs is the favourable tax treatment, as the earnings from ETFs are not taxed if held for more than a year. The value of ETFs closely mirrors the movement of major indices such as the Dow Jones, Nasdaq, Euro Stoxx 600, and others. Finax utilizes ETFs as part of the equity and bond components of the portfolio.

Your portfolio consists of two components: stocks (which are more risky) and bonds (which are more conservative). Your returns are significantly influenced by the allocation between these components. In general, the rule of thumb is that the higher the stock component (and thus the risk), the higher the potential return. Conversely, a higher bond component (and lower risk) will result in a more conservative return. Over the long term, the optimal risk-return ratio is typically achieved by investing in a portfolio with an 80% stock component.

If you are not yet a client, click on "Let's Start." After assessing of your risk profile, we'll tell you what the final value of your investment is likely to be, as well as the expected result in a pessimistic and an optimistic scenario.

Over time, the value of your investment will change, with some portfolio components growing or declining more than others. This can lead to a deviation from the ideal (target) composition of your portfolio. To maintain the desired risk and return ratio, portfolio rebalancing is performed. This involves selling assets that are overweighted and purchasing assets that are underweighted. Long-term data suggests that regularly rebalancing your portfolio can increase its return by 0.35% to 0.5% per year compared to a non-rebalanced portfolio. Over a 20-year horizon, this can gradually create a 40% difference in final return on the original deposit.

The reason behind this is simple. When stocks experience significant growth and their proportion in the portfolio increases, they are sold at higher prices. Conversely, underperforming bonds are purchased, as their prices have not risen as much and are relatively cheaper compared to stocks. Similarly, during a declining stock market, cheap stocks are purchased, while expensive bonds are sold.

We rebalance your portfolio based on its drift, which measures the deviation from the ideal composition. If the deviation reaches a significant level, we initiate the rebalancing process. However, we also take taxes into consideration.

Example to illustrate: Imagine if the ideal proportion of US large companies in the portfolio is 25%. We will aim to rebalance the portfolio if this component exceeds 27.5% or falls below 22.5%, while also considering tax implications.

When it comes to investments, you often hear phrases like "The value of the investment may go down as well as rise over time" or "Past performance is not indicative of future results." These phrases are frequently repeated, but investors sometimes overlook their meaning.

At Finax, we want to ensure that you understand the concept of risk.

Savings held in a bank are guaranteed by the government up to 100,000 euros. This means that even if the bank goes bankrupt, you can be confident that you will recover your funds.

However, this guarantee does not apply to investments in stocks or bonds. No one can guarantee returns on investments. The value of companies listed on the stock market can rise or fall. If a company performs poorly, its stock price may decline, whereas a well-performing company's stock price will increase. The same applies to index funds, but on a broader scale. When the overall economy prospers, indexes rise, and vice versa. Additionally, governments may face challenges in repaying their debt. Therefore, investing is risky.

Why then do people invest? Because over the long term, investing offers the potential for higher wealth appreciation compared to passive savings in a bank account. The general principle is that higher-risk investments have the potential for higher returns. If an individual can tolerate the risk of potential losses, their investment will likely reward them with higher expected returns.

At Finax, we believe that by carefully selecting a widely diversified portfolio and appropriately balancing the ratio of stocks and bonds based on the client's investment needs, we can maximize returns while minimizing risk.

If past returns were a reliable indicator of future performance, investing would be incredibly simple. However, companies that performed well in the past may not necessarily continue to do so in the present or future. At Finax, we invest in the world's largest companies, aiming to be a part of this important club. While we base our expected returns on a detailed study of historical data, we recognize that it is not a foolproof predictor of future performance.

Investment literature and experts often emphasize that stocks are a risky investment. This is because stock returns can be highly volatile, with significant price fluctuations. Therefore, individuals with a short-term investment horizon should generally avoid investing in stocks.

However, stocks can be advantageous for long-term investors. For individuals with a short-term horizon, Finax offers more conservative portfolios that align with their investment goals and time frame.