There is a small administration fee on our investment accounts. And by small, we mean small. The account administration fee is $1.00 per month. This fee is helps offset the costs that MoneyLion incurs to service your account. For further details, see Moneylion.com/ADV.
Unlike most managed investment accounts, the MoneyLion Managed Investment account has no ongoing management or trading fees. For example, many investment managers and other online investment platforms charge an asset-based fee, whereby they charge you a percentage of the total value of your account. When you grow your money, they get a cut.
At MoneyLion, we charge no such fees -- there are no fees for the management or any trading we perform for your account. And there are no minimums to open your account. In the MoneyLion community, we help members dream big even if they start small.