Is Wealthfront Available in Europe? Here are some alternatives

Franklin Silva| Updated January 12th, 2022
wealthfront europe alternatives

The title already gives a clue on whether Wealthfront is available or not in Europe. Yeah, you guessed it, Wealthfront is not available in Europe. At the “Help Center” on their website, you will find the following statement: “We currently require all Wealthfront clients to have a U.S. social security number, a permanent U.S. residential address, and currently reside in the U.S due to financial regulations. We cannot support clients residing outside of the U.S.(…)”.

On top of that, they have no current plans to expand internationally. It’s’ a pity, we know… But there are some solid alternatives! Keep on reading. We’ve’ got you covered!

What really is Wealthfront?

You are likely to have been searching for Wealthfront on google, so we will give you a quick insight into why this platform has brought so much excitement in the U.S.

Wealthfront is a U.S. based fintech start-up created by venture capitalist Andy Rachleff, who is currently the company’s CEO. Wealthfront is described as a Robo-Advisor, and it was even ranked as the #1 Robo-Advisor 2020 by Investopedia! Nonetheless, their services include a wide range of products such as:

  • Banking: It allows you to earn an annual percentage yield (APY) of 0.35% on your cash balance, get cash from 19.000 ATMs, and pay bills with your debit card (VISA).
  • Investing: A pure passive approach is used in your investments. Essentially, your money is put to work automatically while keeping costs low (only 0.25%/annually) and taxes low.
  • Borrowing: An option to add leverage to your investments (up to 30% of your investment account) and use it as a simple line of credit for expenses with interest rates starting from 2.40%.
  • Planning: A more personalized approach to your particular needs. Incredibly easy to be your guide in your homeownership, early retirement, among other life steps.

What Wealthfront alternatives can I find in Europe?

In Europe, there is no platform where you can have all those features. So, your best option is to do a deep dive through other fintech that, in aggregate, may help you achieve your investment goals.

Wealthfront Europe Alternatives

Are you looking for a Robo-Advisor?

ETFmatic

The most downloaded Robo-advisor app in Europe. It has no complexity involved and allows you to check your investments as easily as your Facebook feed. It has a simple and transparent cost structure. It charges you 0.48% a year, and that’s it. Read our ETFmatic review here.

Trading 212

It provides a free AutoInvest & Pies feature where you can construct different pies and pre-define your target weight for each asset you include in the Pies (only stocks and ETFs). You may rebalance your positions in a single tap, schedule automatic deposits and use fractional shares to invest in stocks with high single shares prices (think of Amazon, for instance). Read our Trading 212 AutoInvest & Pies review here.
Disclaimer: 76% of retail CFD accounts lose money when trading with this provider.

Wealthfront Europe Alternatives

Are you looking for fintech in commission-free trading?

eToro

Commission-free stocks (including fractional shares) and ETFs trading, which is good to build your customized portfolio. You can also diversify your investment universe by copying other traders. Easy-to-use website and mobile app, and trusted by a global clientele of over 13 million people. Read our eToro review here.
Disclaimer: 67% of retail CFD accounts lose money when trading with this provider.

Trading 212

Completely free stocks and ETFs trading, no currency translation fee (if you invest in another currency than your home-based currency, you will not be charged for that). More than 14 million clients worldwide. Since 2016, Trading 212 has been the UK’s #1 trading app. Read our Trading 212 review here.
Disclaimer: 76% of retail CFD accounts lose money when trading with this provider.

Revolut Trading

You will find this “sub-platform” inside the Revolut App and provides its users with an efficient way to invest (all in one place). You are limited to one free trade every month, and you only have access through the Mobile app.

Wealthfront Europe Alternatives

Is my money safe in all those fintech?

Yes, it is! All the investment fintech in this article are regulated and/or registered by top tier regulators like the Financial Conduct Authority (FCA) in the U.K. Under this shield, all clients, independently of their country of origin, are protected up to £85,000 on their financial assets by the Financial Services Compensation Scheme (FSCS). Therefore, in the unfortunate event of bankruptcy, your money will be safeguarded.

Despite their recent activity, we have seen that they could withstand the massive spike in volatility that occurred, especially in March and April of 2020 due to Covid-19. We hadn’t seen that market instability since 2007-08, during the global financial crisis, so it gives us good comfort to know that none of those apps suddenly crashed as it happened with Robinhood (more info here), a US-based peer of Wealthfront.

Are you still scratching your head?

At the end of the day, everything will depend on your specific case (profile, preferences, objectives,…) and on the importance you give to every single factor involved.

In general, it is crucial always to be aware of the fee charged, make sure that they are regulated by top-tier institutions such as the FCA in the UK, know the range of products it allows you to trade (not all platforms allow you to trade EU stocks, for instance), know how responsive the customer service is, among other factors.

Explore the websites and decide for yourself!

A reminder that the above should not be construed as investment advice and should be considered information only. Investors should do their own research and diligence about the services and opportunities best suited for their risk, returns, and impact strategy.

Hope we helped, and leave your comments below.

Happy investments!