Robo-advisor MarketRiders uses web-based investment management software to allocate your money in low-cost exchange-traded funds (ETFs) that are aligned with your financial goals and risk tolereance. The platform offers two separate tracks — MarketRiders Managed Service, a plan that’s actively managed for you with a $100 minimum and a 0.75% management fee, and MarketRiders Do-It-Yourself, a plan for hands-on investors that has no minimum and charges $14.95 per month or $149.95 for an annual subscription. Rather than trying to beat or time the market, MarketRiders is committed to a long-term investment plan with low fees and access to intelligent rebalancing.
Investors who want the option&amp;amp;#160;to be hands-on or hands-off; ETF investors; Investors who don&amp;amp;#8217;t have a lot of capital to invest
MarketRiders does not provide access to human financial advisors and relies on its algorithms and team to adjust your portfolio.
Pricing: How Much Does MarketRiders Cost
|Option Name||Management Fee||Minimum Balance||Features|
|MarketRiders Managed Service||0.75%||$100||Professionally managed accounts, retirement planning|
|MarketRiders DIY||$14.95 monthly or $149.95 yearly ($12.50/month)||$100||30-day free trial, can manage existing portfolios, rebalancing recommendations|
MarketRiders Managed Service
MarketRiders offers its Managed Services at three different price points depending on your account balance. You will be charged a 0.75% management fee billed to you every month. No matter your balance, though, there will be a minimum monthly service charge of $5.
If you choose to go with the MarketRiders Do-It-Yourself Service, you’ll pay a flat rate each month or each year, depending on the plan you choose. If you choose the monthly plan, you’ll pay $14.95 each month. If you choose the yearly plan, you’ll pay $149.95 for the whole year, which comes out to $12.50 per month.
When you go the MarketRiders DIY route, you will run into the standard fees associated with buying and owning ETFs and index funds. MarketRiders will provide low-cost ETFs with average fund fees of 0.17%. As with most online brokers, MarketRiders will also charge a trading commission fee. This fee will be based on your investment portfolio's size.
MarketRiders' Investing Strategy
MarketRiders fills its portfolios with low-cost and tax efficient ETFs with average annual fees of 0.17%. ETFs allow you a diverse investment strategy that allows you exposure to particular segments of the market rather than just individual names. This strategy also saves you money through low ETF fees.
Plus, MarketRiders will ensure your portfolio always reflects your investment goals and financial needs. This is done through both MarketRiders financial experts, algorithms and technology. MarketRiders seeks truly invest for the long run rather than trying to time the market and beat it in the short-term. They work to keep your portfolio balanced regardless of any market volatility.
- Individual brokerage account
- Joint brokerage account
- Trust account
- Traditional IRA
- Roth IRA
- 401(k) rollover
- Profit-sharing plan
- 529 college saving plan
MarketRiders stands out for its two different offerings: Managed Services and DIY Services. This allows you to benefit from MarketRiders’ platform whether you’re a more hands-on investor or a passive one. This also aligns with the company’s promise to look out for the investor. Plus, both offerings come with reasonable pricing, making their services even more available to the average investor.
Regardless of which service you choose, MarketRiders offers unbiased investment advice. You can use the platform to have it take control of your portfolio or to make your own investment decisions.
Another key feature of MarketRiders is that you have access to a 30-day free trial of its DIY services. That way, you can try its services before you commit to either the monthly or yearly plan. MarketRiders also ensures that its portfolio engine will be compatible with any brokerage account. That way you don’t have to worry whether you can use MarketRiders with your existing portfolio.
Finally, MarketRiders advertises peace of mind for its investors. The platform acheieves that goal through its technology to watch and manage your money consistently.
Who MarketRiders Is For
With both managed and DIY portfolio services available, MarketRiders gears its services to a wide range of potential investors. So if you don’t have the time, energy or knowledge to manage your investments on your own, you can benefit from MarketRiders’ Managed Services. By contrast, if you do want to manage your portfolios on your own, you can sign up for MarketRiders’ DIY Services. This allows you to call the shots, but get advice, recommendations and help from MarketRiders experts.
- Can choose between a professionally managed or DIY account
- Significant investment in ETFs
- 24/7 online account access
- Periodic rebalancing
- Human advisement
- Direct indexing
How MarketRiders Works
Opening a MarketRiders Managed Service account starts with clicking a “Get Started Now!” button on the website’s pricing page. You’ll then be prompted to create an account with MarketRiders by providing your email address and creating a password. If you’re not quite ready to set up an account, though, you can easily contact someone at MarketRiders to discuss your options further. You can send in an inquiry online, call the provided number or send your inquiry by snail mail. Then a MarketRiders Registered Investment Advisor will follow up with you to continue the process.
To start with MarketRiders’ DIY service, you get to try those services for free for 30 days. You’d click a “Try It Free for 30 Days!” button on the website’s pricing page. You will also have to create an account with your email and a password before continuing. You’ll then enter your billing information, select a subscription plan and agree to the terms before you create your portfolio.
You can still open an account with MarketRiders’ DIY Service even if you already own an ETF portfolio. If that’s the case, you can track and rebalance the ETF portfolio you have through MarketRiders. If you adjust your asset allocation at any time, MarketRiders will send you trade suggestions to rebalance your account.
What's the Catch?
You shouldn’t get MarketRiders if you cannot afford the management fees. To snag the lowest percentage fee for Managed Services, you would need more than $100,000 in your account. Otherwise, you’re subject to some pretty standard robo-advisor fees. However, not everyone can afford the standard percentage fee. If the fee takes out more of your gains than you’re earning, you should wait to open an investing account.
Competition: How MarketRiders Stacks Up?
MarketRiders proves a great robo-advisor option for its appeal to investors who want their portfolios fully managed and investors who want the exact opposite. Not many robo-advisors offer both sides of the coin. Plus, MarketRiders offers its services at average prices and relatively low minimums. That opens the door to a wider range of clients.
Perhaps the closest competitor to MarketRiders is Ally Invest. This robo-advisor also offers two types of accounts, one called Self-Directed Trading and one called Ally Invest Managed Portfolios. Again, this opens up the platform to almost all investors, allowing both hands-on and hands-off investors to benefit from the services. Plus, Ally Invest charges similar fees to MarketRiders, with $4.95 for stock and ETF trades, $0.65 per option trade contract and $1 per bond when managing your own portfolio. Ally Invest Managed Portfolios requires a minimum deposit of at least $100. However, the annual fee comes in lower at 0.30%, taking out less of a chunk from your earnings.
Another robo-advisor alternative for you could be TD Ameritrade Essential Portfolios, the robo-advisor of TD Ameritrade. While TD Ameritrade Essential Portfolios does require a minimum deposit of at least $5,000, its low fees make up for the higher minimum. You pay only 0.30% of your assets for automatic rebalancing and deposits, plus customer service at over 100 local branches. You even have access to a TD Ameritrade mobile app to manage and check on your accounts while on the go.
Bottom Line: Should You Use MarketRiders?
MarketRiders would be a just standard robo-advisor if it weren’t for its dual service offerings. By offering both fully managed and DIY portfolios, MarketRiders sets itself apart from other robo-advisors. This system allows for more investors to find an investment strategy that works for them. Even further, it helps that MarketRiders does not charge an arm and a leg for either of these services and that it has a low deposit minimum for its managed service and no minimum for its DIY plan. That way, a wider variety of potential investors can benefit from portfolio management services.