Singaporeans Can Now Use Robo-Advisors for Free Thanks to Kristal.AIby Fintechnews Singapore November 14, 2018
If you’ve always wanted to try to out a robo-advisory service but costs have got you hesitant, now’s a good time to give a shot.
During the Singapore Fintech Festival, Kristal AI rolled the “Free for Life- Starter solution” which charges investors zero advisory fees.
This service is made available to both retail and accredited customers based in Singapore. Consumers can get started from as little as SGD 100 onwards and there are no restrictions if the client wishes to withdraw all their money.
They have also enabled customers to sign up using MyInfo (SingPass) to their KYC and Risk Profile.
Founded in 2016, Kristal.AI is headquartered in Singapore where it operates under the CMS license from the Monetary Authority of Singapore (MAS). It is also operational in Hong Kong, India and Dubai. In August of last year, Kristal.AI was launched in Singapore under the ‘Sandbox’ programme by MAS.
Kristal.AI has developed a “Genetic Algo” (AI)-based Advisory Algorithm that provides advice to invest in global markets including US, Europe, and Emerging Markets and across multiple asset classes such as ETFs, Bonds, Equities, Mutual Funds, Derivatives and Forex.