If you have been paying attention to UAE business news, you may have seen a report about a robo-advisor. In recent times, these digital business tools have become popular as they give people new ways to approach the financial market. These digital financial experts are known to be cost-effective as well as offer investors a convenient way to invest in the market. Thankfully, with the availability of these digital market experts, you will not be needing those costly traditional business advisors. In this post, we will introduce you to the best robo-advisors in the UAE.
What is a robo-advisor?
A robo-advisor is a very popular digital platform in the UAE. This is a smart technology that is fully automated to help investors make a wide range of decisions in the market. The tool works by using a series of the latest algorithms and insights in the market to help investors make smart investment decisions. The tool usually asks the investors certain questions about what their financial goals and situations are. If they provide accurate answers, the robo-advisor then proceeds to recommend a suitable investment option for them.
The rise of business machines: What is the best robo-advisor to choose in the UAE?
When it comes to choosing the best robo-advisor, it depends on the preferences of the investor. Currently, there are the top 5 robo-advisors in the country. They are listed and explained in the section below.
- Sarwa – The best robo-advisor for low minimum deposit: We can easily say that Sarwa is a top 5 robo-advisor in the UAE. This simple platform is very popular because it is very accessible thanks to its very low minimum deposit requirement. As an investor looking to make use of the best robo-advisor, you can start on this platform with as little as AED 500. This is why it is such a perfect option if you are a beginner looking to invest smaller amounts. Sarwa offers diversified portfolios that are based on ETFs. If you want to use this platform, it will provide you with personalized advice that is based on your investment goals as well as the level of risk that you are willing to take.
- StashAway – the best robo-advisor to diversify your investment: StashAway is among the top 5 robo-advisors in the UAE market. This platform is loved because it can provide you with a strategy to easily diversify your portfolio. With StashAway as your preferred robo-advisor, you can easily build portfolios based on the level of risk that you can take. In addition, the smart platform will adjust your portfolio based on key metrics based on the condition(s) of the market. With this robo-advisor, you can easily access to a wide range of global markets as an investor in the UAE. The aim of the platform is to help you reduce risks while maximizing your returns.
- Cocoon Invest – the best robo-advisor for Halal investments: If you are a UAE investor looking for a top 5 robo-advisor that offers you investment options that are compliant with the laws of Shariah, then you may want to try Cocoon investment. People in the gulf region prefer this robo-advisor due to its ability to easily provide them with halal portfolios to invest in. This is the platform you want to choose if you want a personalized approach to wealth management. Cocoon invest is a great option if you are a Muslim investor looking to grow your wealth according to Islamic values. Choose this platform if you want something that caters to your specific needs as investor.
- Charles Schwab – the best robo-advisor if you want no management fees: Charles Schwab is a popular robo-advisor that is not just known in the UAE alone. People around the world know this investment tools thanks to the fact that it charges no management fees. Schwab Intelligent Portfolios is usually recommended for investors if they want automated investment management that will introduce them to a diverse range of portfolios. If you are looking for a robo-advisor with extensive resources to help you maximize your returns with minimal expenses , then this is a strong choice for you to choose.
- Interactive Advisors – best robo-advisor if you are looking for socially responsible investing (SRI): Another top 5 robo-advisor in the UAE is the popular platform known as Interactive Advisors. This is an exceptional investment platform in the UAE that is known to provide investors with the perfect guide when it comes to socially responsible investing (SRI). If you choose this automated investment platform, you will allowed to make your investment decisions based on your ethical values.
