What is the effective fee at Finax?

One fee, and one fee only at Finax

Finax is a licensed securities broker whose core business is offering investment services to the general public.

When a client decides to start investing with Finax and open an account, they complete a short questionnaire covering their preferences, appetite for risk, and investing experience. Based on the answers, our algorithm then recommends the most suitable option from our range.

Once the client selects a strategy, opens an account, and sends in their first deposit, Finax uses that money to buy a range of ETF funds depending on the product chosen. The aim is to grow that money as the prices of those assets rise.  

For its services on the core portfolios, Finax applies a management fee of 1% per year + VAT, calculated on the average value of assets in the client account. It's deducted monthly, and it is our only fee.

That fee covers far more than just the buying, selling, and holding of assets. Sizable portions also go toward funding our extensive, comprehensive financial education -articles, podcasts, textbooks, and training sessions.

For many, these activities have built confidence in investing and helped them get their spending, pensions, and mortgages in order.

We also invest our revenue into fast, unmatched customer support in local languages, close communication and guidance that steers clients toward sound investing behaviour, the launch of new products (such as Smart Deposit after interest rates rose in 2023), and the development of our freely available Financial Coach service for managing personal finances.

The data on our clients shows that these efforts genuinely add value. Most of our clients invest for the long term, avoid speculating, and patiently build their wealth through additional deposits.

A single statistic captures it best. Clients who started with Finax in 2018 held average assets of around 4,200 euros at the end of that year. By the end of 2024, that figure had grown to more than 44,000 euros. It shows that we are delivering on our main mission: helping clients build their wealth. 

So what is the effective fee?

At Finax, the client comes first. We've held to that value since day one. We're well aware that fees weigh on the final value of an investment and on how fast it grows. That's why we offer a wide range of permanent and temporary discounts, all of which can be combined with each other. 

As a result, clients can easily reduce the fees on their accounts all the way down to zero.

Of course, no two clients are in quite the same position, so you can easily check your own effective fee in the app or after logging in on the web.

Open the main menu in the top right corner and click on "Discounts and fees". In that section, you'll see not only your current effective management fee, but also the total amount of assets managed free of charge and how much you've saved on fees.

Which discounts does Finax offer?

Finax offers two permanent discounts on its management fee:

1. Investment transfer discount

If you already invest, for example, in mutual funds through your bank, you can move your investments to Finax and we will manage half of the transferred amount free of charge for 2 years. Property also counts as a transferred investment, so the discount applies if you've sold an apartment, house, cottage, or garage. For full details on this discount, have a look at our earlier article.

2. Referral discount

Would you like your friends and loved ones to grow their wealth too? Invite them to Finax and you'll earn a discount of 1,000 € managed free of charge for up to three years for each invitee who activates an account. The invitee gets the same discount once they send in their first deposit. If you like, you can pass your discount on to that person and bring theirs up to 2,000 €. We've also covered this discount in greater depth in a separate article.

Alongside the permanent discounts, Finax runs a range of attractive promotions throughout the year.

What else narrows the gap between the headline fee and the effective fee?

Discounts aren't the only way for clients to bring their fees down. Another route is the Finax Elite programme, under which we charge clients a reduced fee (0.85% per year + VAT on assets above 100,000 euros, and 0.65% per year + VAT on assets above 500,000 euros).

Clients can also opt for products that already carry a reduced fee. The first of these is the European Pension (PEPP), where the client's total costs come to 0.9% per year. Of that, only 0.6% per year is Finax's management fee, with the remainder made up of VAT and the internal costs of the ETF funds used.

Other similar products are our short-term portfolios Smart Deposit and Wallet. In these, we charge clients a reduced fee of just 0.5% per year, including VAT.

The portfolios of clients from the former robo-advisor ETFmatic, which we acquired in early 2024, also contribute to the gap between the headline fee and the effective fee.

Make your investing work even harder!

Whether you're already a Finax client or your first steps into investing are still ahead of you, this month is the time to grow your savings even more efficiently.

The fee-free deposits promotion runs until the end of June. As usual, you can combine this discount with the other discounts Finax offers. You can read more about it in the blog and the terms and conditions.

Create an account and start investing today

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If you have any questions or suggestions, please don't hesitate to get in touch by email at [email protected] or by phone at +421 221 009 985.

Frequently asked questions about Finax fees in Ireland

1. What fee does Finax charge for its services?

Finax charges only one fee, namely a management fee of 1% p.a. + VAT (1.23% per year in total) on the average value of assets in the client account. Finax does not charge any other fees for its services.

2. What is the difference between the headline fee and the effective fee?

The headline fee is 1% per year excluding VAT, but our actual revenue from management fees in 2025 came to just 0.69% of the average value of assets under management. The gap is driven by permanent discounts, campaigns, the Finax Elite programme, products with a reduced fee, and the strategies of clients from the former robo-advisor ETFmatic.

3. What fee discounts does Finax offer?

Finax offers two permanent discounts: the investment transfer discount (a 50% fee discount for 2 years when you transfer investments or sell property) and the referral discount (up to 1,000 € managed free of charge for 3 years for both the referrer and the invitee). On top of those, temporary campaigns run from time to time. Under the current one, all net deposits sent in by 30 June 2026 will be managed free of charge for one year. All discounts can be combined with each other.

4. How do I find out my effective fee at Finax?

You can check your current effective fee directly in the Finax app or after logging in on the web. In the main menu in the top right corner, click on the "Discounts and fees" section. You'll see your current effective fee, the total amount of assets managed free of charge, and the amount you've saved thanks to discounts.

5. What is included in the management fee?

The management fee covers the buying, selling, and holding of assets (shares and bonds) according to the chosen strategy. On top of that, Finax uses it to fund extensive financial education (articles, videos, podcasts) and the free Financial Coach service for managing personal finances, available directly in the app.