If you are weighing up where to invest your money, you may be choosing between investment platforms such as Moneyfarm* and Dodl*. In this article, we consider the pros and cons of robo-adviser Moneyfarm compared with investing app Dodl, including what they offer and how much they charge.
There is also the opportunity for you to benefit from our reader offer, which gives 12 months' free management with Moneyfarm (terms and conditions apply)*.
Dodl vs Moneyfarm - which is better?
| Dodl | Moneyfarm | |
| Services | Investing app
Choice of 30 funds and 80 UK & US shares |
Risk-rated portfolios
Digital investment advice Invest in a number of 'thematic' funds to gain exposure to investing trends including technology, sustainability and society Share investing Liquidity+ (access to money market funds) |
| Products | ISA, GIA (General Investment Account), Lifetime ISA, SIPP | ISA, GIA, Junior ISA and SIPP |
| Minimum investment | £100 or £25 monthly investment | £500 |
| Platform fees | 0.15% annually (minimum £1 per month per product)
Additional underlying fund charges |
Up to £10,000 - 0.75%
£10,001 to £20,000 - 0.70% £20,001 to £50,000 - 0.65% £50,001 to £100,000 - 0.60% £100,001 to £250,000 - 0.45% £250,001 to £500,000 - 0.40% Over £500,000 - 0.35% The fee you pay is based on the total value of your portfolio and so if you invest £75,000 you will pay a total fee of 0.60% Additional underlying fund charges |
| Trustpilot reviews | 4.5 out of 5.0 | 4.0 out of 5.0 |
| Money to the Masses offer | n/a | No management fees for 12 months (terms and conditions apply)* |
Dodl vs Moneyfarm - services
Moneyfarm is a robo-adviser style platform, which means it assesses your appetite for risk and then channels you into a suitable risk-rated portfolio. It also offers investment advice, which helps ensure you have the right portfolio if your circumstances change over time. Moneyfarm has recently expanded its services, offering thematic investing, share investing and Liquidity+, a service that focuses on money market funds aimed at those with a short-term investing horizon. Dodl is an investing app, which allows users to construct their own portfolios from 30 funds - including risk-rated funds from parent company AJ Bell - and 80 UK & US shares. While it is structured in an easy-to-navigate way, it still requires investors to choose their own underlying holdings, while Moneyfarm provides a ready-made solution.
Dodl vs Moneyfarm - products
Both Dodl and Moneyfarm offer the basic accounts you would expect from an investment platform, namely a stocks and shares ISA, General Investment Account and pension. Moneyfarm also offers a Junior ISA, something that isn't currently offered by Dodl. You can read more about the Best Junior ISAs in our article "Best Junior stocks and shares ISA". Dodl does however offer a Lifetime ISA, something that is currently not available if you decide to invest with Moneyfarm. A Lifetime ISA can be used to save money for a house purchase or to fund retirement. If you are specifically interested in this type of wrapper, read our article "Lifetime ISAs explained - are they the best way to save?"
Dodl vs Moneyfarm - minimum investment
Investing with Moneyfarm requires a larger initial investment, with a minimum of £500 needed to open an account. Dodl is significantly less, needing a minimum lump sum of £100 or, alternatively, at least £25 per month as a regular investment.
Dodl vs Moneyfarm - platform fees
Dodl has positioned itself as a low-cost investment platform, with a fee of 0.15% annually (minimum £1 per month per product), no subscription fee and no commission on buying and selling. It's worth noting, however, that with the £1 minimum monthly fee, you only truly get the 0.15% rate when you invest more than £8,000.
Meanwhile, Moneyfarm has a reducing fee structure meaning as you invest more, you will pay less in fees. Fees start at 0.75% if investing less than £10,000, but can reduce to 0.35% depending on how much you invest. It is, however, possible to avoid management fees for the first year with our reader offer*.
Dodl vs Moneyfarm - customer reviews
Dodl has an overall customer rating of 4.5 out of 5.0 on Trustpilot based on around 140 reviews. Moneyfarm, on the other hand, has an overall customer rating of 4.0 out of 5.0 based on more than 1,000 reviews. Approximately 72% of customers rated Dodl "Excellent", while about 10% gave it a "Bad" rating. About 67% of customers rated Moneyfarm "Excellent", while about 6% gave it a "Bad" rating.
Summary: Dodl vs Moneyfarm
Whether to invest using Dodl* or Moneyfarm* will largely come down to whether you want a simple, ready-made portfolio that is tailored to match your attitude to risk, or whether you are confident in constructing your own portfolio. If it is the former, robo-adviser Moneyfarm may be a better choice, albeit you'll pay more in fees. If, however, you want the option to invest in shares as well as funds and like the idea of being able to manage your investments from a well-designed app, Dodl may suit you better.
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