Is Moneyfarm Safe?

Positives

• solid  4.1 out of over 1k reviews on Trustpilot
• protected through the Financial Services Compensation Scheme (FSCS)
• focus on long term investments and retirement planning

Potential Concerns

• Moneyfarm advises to start with at least £500 as an initial investment sum, but suggest £2,500 or more with monthly contributions of at least £100
• At the moment its only possible to invest in UK stocks and ETFs

What is Moneyfarm?

Moneyfarm is a digital wealth management platform offering investment services to retail investors. Founded in 2011 by Paolo Galvani and Giovanni Daprà, Moneyfarm provides personalized investment portfolios tailored to individual risk profiles and financial goals.

Moneyfarm primarily operates in the United Kingdom and Italy and is headquartered in London.

Is Moneyfarm Safe – The Details

Regulation

Moneyfarm is regulated by financial authorities such as the Financial Conduct Authority (FCA) in the UK and the Bank of Italy (Banca d’Italia) in Italy. This regulation entails adherence to strict standards of conduct, transparency, and compliance with applicable laws and regulations governing the financial services industry.

Protection/Insurances

Investments made through Moneyfarm are safeguarded by the Financial Services Compensation Scheme (FSCS), offering protection for up to £85,000. Moneyfarm employs Saxo Bank as its custodian, while any uninvested cash is held by Saxo Bank and Barclays Bank. In the event of insolvency, your money and assets would remain secure.

Investment Risks

Investing carries inherent risks, including market volatility and potential loss of capital. Despite risk, diversification across asset classes can help mitigate fluctuations. Moneyfarm provides tailored investment portfolios to align with individual risk tolerance and financial objectives, aiming to optimize returns while managing risk exposure effectively.

Moneyfarm provides access to a wide range of assets for trading. These include:

• Bonds
• Stocks
• ETFs
• UK Mutual Funds

Users can invest in these portfolios based on their risk tolerance and financial goals through Moneyfarm’s online platform.

Company

Moneyfarm was founded in 2011 by Paolo Galvani and Giovanni Daprà, and is regulated by financial authorities in the UK and Italy.

Security and Personal Data

Moneyfarm prioritizes the security and privacy of its clients’ personal data. Employing advanced encryption methods and robust cybersecurity protocols. It ensures the protection of sensitive information from unauthorized access or breaches. The company adheres to stringent data protection regulations.

Resources:

Trustpilot:

https://uk.trustpilot.com/review/moneyfarm.com

Youtube:

https://www.youtube.com/c/MoneyfarmUK

Crunchbase:

https://www.crunchbase.com/organization/moneyfarm/company_overview/overview_timeline

Summary – Is Moneyfarm Legit?

Moneyfarm is a legitimate financial services company. It is regulated by financial authorities in the UK and Italy, such as the Financial Conduct Authority (FCA) and the Bank of Italy (Banca d’Italia), ensuring compliance with strict regulatory standards. This regulation provides assurance of Moneyfarm’s legitimacy and trustworthiness as a financial service provider.