Licensed Robo-Advisors Compared By Fees And Minimums

Updated: November 2026

A robo-advisor is an app that asks you a few questions about your goals and how much risk you can take. It then builds a portfolio of funds for you and runs it for a yearly fee. This guide is for you if you want to start with RM100 or a few thousand ringgit and don't want to pick funds yourself. Cost is the first thing to compare.

Management fees run from 0.2% to 2.5% a year and minimums from nothing to RM250, but the headline fee isn't the whole cost. Eight licensed platforms take individual investors, and this guide puts their fees and minimums side by side.

Ria sits inside the myASNB app and KDI Invest is Kenanga's platform.

Five terms come up throughout the guide. An ETF is a fund that trades on a stock exchange. A unit trust fund pools money from many investors under one fund manager. The management fee is the yearly percentage a platform charges on your balance. Some platforms bundle other costs into it and call it a wrap fee. An expense ratio is the yearly cost of running an ETF, which the fund takes from its own value. A spread is the gap between the market exchange rate and the rate you get when your ringgit is converted to dollars.

Which Robo-Advisors Are Licensed

The Securities Commission Malaysia (SC) licenses robo-advisors as digital investment managers. The SC's Digital Initiatives page lists 12 licence holders, and eight of them serve individual investors.

Raiz Malaysia closed in September 2024 and is no longer listed, after it announced the closure in July. Versa Asia Sdn Bhd runs Versa Invest. The SC lists that company under e-services, a different category from digital investment managers, so it isn't compared here.

Fees And Minimums Side By Side

The platforms are listed alphabetically. Fees and minimums come from each platform's own website. The fee on RM10,000 is one year of the management fee only, and the costs it leaves out are covered further down.

In the Shariah column below, "None listed" means the platform's pages don't mention a Shariah option.

What Each Platform Charges And Holds

Airo

Airo is the brand of CP Global Fintech Solutions Sdn Bhd. Its portfolios hold ETFs and are built around an investment goal, from long-term growth to keeping money safe and earning income. Airo's fees are 0.8% a year, or 1.2% for the Shariah version. The minimum is RM50. Airo also charges brokerage (a fee for buying or selling investments) of 0.05% to 1% of trade value. It adds regulatory fees and withholding tax (tax taken from a dividend before you receive it) on ETF dividends. Smart Cash is a cash portfolio, so it's listed with the cash management products below. RinggitPlus covered Airo's launch.

Akru

Akru has three portfolios, Low-risk Larry, Moderate Mary and High-risk Harry, that mix US, developed-market and emerging-market shares with bonds. Low-risk Larry also holds Malaysian bonds and similar debt. The fee is 0.7% up to RM100,000, then lower tiers down to 0.2% above RM3 million. Akru has no minimum.

Cashku

Cashku is the app of Advisonomics Sdn Bhd. Its portfolios hold unit trust funds for each risk level, and you can start from RM10. There's no sales charge. Cashku's yearly fee is added on top of each fund's own costs. Those include a management fee and a trustee fee (the trustee safeguards the fund). On money market funds (low-risk funds of short-term deposits and debt), the yearly fee is 0.3%. For other funds, it depends on your balance. It's up to 2.5% below RM100,000, up to 2% from RM100,000 to RM250,000 and up to 1.5% above that.

KDI Invest

KDI Invest is Kenanga Investment Bank's robo-advisor. It holds US-listed ETFs chosen from your risk profile. KDI charges 0.70% a year on any amount. The minimum is RM250, and opening an account is free.

On top of the management fee, the ETFs' expense ratios average 0.2% to 0.4% a year. Currency conversion costs are up to 0.2% of the amounts you move to and from KDI Invest.

MYTHEO

GAX MD Sdn Bhd runs MYTHEO. Its managed portfolios hold global ETFs across shares, bonds and commodities. Omakase is its "Leave it to MYTHEO" option, which recommends a target mix from the answers you give and resets the mix when it drifts. Essential Products covers water, food and energy themes, and Global ESG screens for environmental, social and governance factors. Izdihar is Shariah-compliant. MYTHEO also has Money Market portfolios, one of which is Shariah-compliant, and a USD Trust portfolio. You can set the weight of growth, income and inflation hedge (protection against rising prices) in your portfolio.

The fee is tiered, from 1.0% on the first RM30,000 down to 0.5% above RM1 million. The tiers are set in US dollars, so the ringgit tiers move with the exchange rate. The minimum is RM100. USD Trust needs RM500 in a single deposit made together with a deposit into Omakase, Global ESG or Essential Products. You can also switch into USD Trust from another MYTHEO portfolio.

Ria

Ria invests only in ASNB unit trust funds, not ETFs. Its portfolios draw on ASN Equity Global, ASN Equity Malaysia, ASN Sukuk (sukuk are Islamic bonds) and cash, split by your risk level. The minimum is RM100 for the first investment and for each one after. The management fee is 0.3% a year, with no sales charge. You need to be a Malaysian citizen aged 18 or older. You also need a MyKad with a Malaysian permanent address and an active Malaysian bank account. RinggitPlus covered Ria's launch.

StashAway

StashAway's managed portfolios hold ETFs. They are General Investing, Shariah Global, Responsible Investing, Thematic, Flexible, Passive Income and Bitcoin ETF portfolios. The ETFs' expense ratios are about 0.2% a year, and the Shariah Global Portfolio's average is 0.4%. StashAway Simple, a cash management portfolio, and ETF Explorer, for single ETFs, are priced separately. The Single ETF Flexible Portfolio charges 0.3% with no minimum, and the Shariah Global Portfolio has no minimum balance. No minimum is stated for the other portfolios.

Wahed Invest

Wahed Invest holds global ETF and fund portfolios matched to your risk level. It charges one yearly fee (Wahed calls it a wrap fee) that covers managing, holding and trading your investments. The custodian is the company that safeguards your assets. ETF expense ratios aren't part of that fee. Deposits by FPX or direct debit carry RM1 charges. Moving money between portfolios costs 0.3%. Wahed doesn't charge for withdrawals, which can take up to eight business days to reach your bank.

Licensed For Businesses And Specialist Investors

Four licence holders on the SC's list don't offer a retail service to compare.

• Fortefi (Fortefi Capital Sdn Bhd) is a platform where businesses keep spare cash they may need back quickly. It places clients' money into funds run by other asset managers and offers six portfolios, from Secure Cash to higher-risk options. It has no minimum.
• UOBAM Invest, from UOB Asset Management (Malaysia) Bhd, launched in 2020 for corporate investors. Its Digital Adviser planner had a RM500,000 minimum at launch, which may have changed since.
• Halogen (Halogen Capital Sdn Bhd) is a fund manager for crypto and traditional assets, with Shariah-compliant crypto and income funds. It doesn't spread your money across many assets like the platforms above. Halogen was founded by Hann Liew and Lucas Ooi, who also co-founded Jirnexu, the company behind RinggitPlus.
• AutoWealth (Robowealth Sdn Bhd) is on the SC's list, and RinggitPlus couldn't find a Malaysian retail service or fee schedule.

Which Platforms Offer Shariah-Compliant Investing

Four platforms name a Shariah advisor for their portfolios, and Cashku has a Shariah money market product.

• Wahed Invest screens every portfolio. Its Shariah advisor is Shariyah Review Bureau. Wahed accepts companies that earn less than 5% of revenue from activities Shariah doesn't allow. It then donates to charity the part of your dividends that comes from that income.
• StashAway's Shariah Global Portfolio is endorsed by Masryef Advisory, which is registered with the SC. It follows the same fee schedule as StashAway's other managed portfolios.
• Airo offers a Shariah version of each portfolio objective, overseen by Tawafuq Consultancy. It costs 1.2% a year, compared with 0.8% for the conventional version.
• MYTHEO offers a Shariah-compliant portfolio called Izdihar, and its Shariah advisor is Tawafuq Consultancy. Its i-MYR Portfolio holds a Shariah-compliant money market fund.
• Cashku Save is a Shariah money market product rather than a managed portfolio.

Ria's portfolios carry ASNB's "Harus" label, which ASNB describes as permissible under Shariah according to the National Fatwa Committee. ASNB doesn't name a Shariah advisor for Ria. Akru and KDI Invest list no Shariah portfolio. Cash management products with a Shariah option are covered at the end of this guide.

Costs The Management Fee Leaves Out

ETFs carry their own expense ratio, about 0.2% a year at StashAway and 0.2% to 0.4% at KDI. Platforms that hold US-listed ETFs also convert your ringgit to dollars. StashAway charges a 0.35% spread on each conversion for USD portfolios, and KDI charges up to 0.2%.

Every fee in the tables is before service tax. KDI states that 8% applies to its management fee from 1 October 2025, and MYTHEO says its fees carry the tax rate in effect.

If your balance is small, a minimum monthly fee hurts most. At 0.8%, a RM5,000 balance pays RM40 a year, or RM3.33 a month. StashAway's RM5 monthly minimum lifts that to RM60 a year, an effective 1.2%. The minimum doesn't apply in an account's first six months. It also doesn't apply in a month when you add more money than you withdraw. Wahed applies its RM2.50 monthly minimum only when you hold two or more portfolios.

Management Fee On RM5,000 And RM50,000

This table applies each platform's fee schedule to two balances for one year. StashAway's fee on RM5,000 is RM40, or RM60 with its RM5 monthly minimum.

The cheapest and most expensive platforms differ by RM330 a year on RM50,000, or by up to RM1,100 with Cashku's other funds.

Choosing A Robo-Advisor

• If you need Shariah-compliant investing, start with the Shariah section and check the advisor named for each platform.
• Work out the fee on your own balance. Use the RM5,000 and RM50,000 table, and add the monthly minimum fee if your balance is small.
• Compare what each platform holds. ETF platforms and unit trust platforms have different costs, so match the holdings to what you want to own.
• Add up every fee, not just the management fee. Look for sales charges, trading fees, withdrawal fees and fees for switching portfolios, then compare the total to your balance.
• Check the currency. A USD portfolio converts your ringgit, so a return in dollars isn't the same as a return in ringgit. Compare the conversion cost before you choose.
• Check how money moves in and out. Look at deposit charges and how long a withdrawal takes before you commit.
• Confirm the company is on the SC's list or in the SC's Investment Checker before you send any money.

Robo-Advisor Or Cash Management

Cash management products hold money mainly in money market funds and similar low-risk investments. KDI Save, StashAway Simple and Airo's Smart Cash are examples. They carry less risk than a managed portfolio and suit money you'll need within a year. Some have a Shariah option. Webull Moneybull and ShopeePay MoneyPlus hold Shariah-compliant funds, and StashAway Simple holds an Islamic money market fund among its funds. KDI Save, StashAway Simple, Webull Moneybull and ShopeePay MoneyPlus are investment products, not bank deposits, so PIDM doesn't insure them.

Past Returns And Protection If A Platform Fails

This guide doesn't quote returns for any platform. Platforms report returns over different periods, often in US dollars, while you invest in ringgit. Past performance doesn't predict future results. A return only describes one past period, so check the date and whether fees were taken out. Where a platform is listed on RinggitPlus, its page shows the return the platform reports.

Robo-advisor accounts aren't bank deposits, and PIDM, the Malaysia Deposit Insurance Corporation, doesn't protect unit trusts, stocks or shares. The Capital Market Compensation Fund can compensate eligible individual investors after it declares a licensed company in default. It does so when fraud, misuse of client money or mis-selling leaves the company unable to pay claims. For fund management companies, the limit is RM150,000 per company, shared by everyone who claims against it under the fund's rules.

Frequently Asked Questions

How much money do you need to start with a robo-advisor?

Akru has no minimum, and neither do StashAway's Shariah Global Portfolio and Single ETF Flexible Portfolio. Cashku starts at RM10 and Airo at RM50. MYTHEO, Ria and Wahed Invest start at RM100, and KDI Invest at RM250. StashAway doesn't state a minimum for its other portfolios.

How much do robo-advisors charge?

Management fees run from 0.2% a year on the largest balances to as much as 2.5% on some Cashku funds. On RM10,000, the fees in the comparison table range from RM30 to RM250 a year. They leave out service tax, fund costs and trading costs.

Are there Shariah-compliant robo-advisors?

Yes. Wahed Invest screens every portfolio, and StashAway has a Shariah Global Portfolio. Airo offers a Shariah version of each objective, and MYTHEO has a portfolio called Izdihar and an i-MYR money market portfolio. ASNB labels Ria's portfolios "Harus", meaning permissible under Shariah. Cashku Save is a Shariah money market product.

Are robo-advisors safe?

A robo-advisor needs an SC licence, so check the company on the SC's list or through the Investment Checker. A licence doesn't protect you from investment losses, and your account isn't a bank deposit. Also ask who holds your money and investments. MYTHEO's appointed trustee, Malaysian Trustees Berhad, holds all investor deposits and assets, and you own the ETFs, not MYTHEO. Wahed's custodian, Pacific Trustees Berhad, holds your assets in a brokerage account.

Can you lose money with a robo-advisor?

Yes. A robo-advisor doesn't promise a return. Your portfolio holds investments such as ETFs and unit trust funds, so its value can fall as well as rise. A fall can come soon after you invest. A portfolio with more shares tends to change more in value than one with more bonds or cash.

How does a robo-advisor decide what to invest in?

It starts with questions about your goals and how much risk you accept. Your answers place you at a risk level, and the platform gives you a portfolio built for that level. Computers then buy and sell for you and reset your mix when it drifts from the plan. Ria uses algorithms and Modern Portfolio Theory, a method that spreads money across different investments to balance risk and return.

Is a robo-advisor the same as a unit trust?

No, but they overlap. A unit trust is a single fund run by a fund manager, and you pick it yourself. A robo-advisor is a service that builds and manages a mix of funds for you. Some build that mix from ETFs, such as KDI Invest, and some use unit trust funds, such as Ria and Cashku. A unit trust can have a sales charge, which varies by fund. Ria charges 0.3% a year and no sales charge. At Cashku, each fund's own costs sit on top of its yearly fee.

Do robo-advisors invest in Malaysia or only overseas?

Both. Most hold global ETFs. Ria holds ASNB funds that include Malaysian shares and sukuk. Akru's Low-risk Larry portfolio holds a large share in Malaysian bonds and similar debt. KDI Invest holds US-listed ETFs, MYTHEO holds global ETFs, and Wahed builds global ETF and fund portfolios.

What is KDI Invest, and how is it different from KDI Save?

KDI stands for Kenanga Digital Investing, the digital platform of Kenanga Investment Bank. KDI Invest is its robo-advisor, and it holds US-listed ETFs chosen from your risk profile. KDI Save is a separate product that places your money in low-risk investments, with no management fee.