Fees and security

Questions & answers

Will I be charged a fee if I have a balance of £0?

If your account balance is £0, you won’t be charged any fees. In fact, you won’t be charged any fees at all if your balance is under £200.

How much do I need to get started?

You can start investing with £1.

What are the fees ?

Automata charges two simple fees:

  1. Fixed Membership fee £2 per month, free for the account under 200£. This fee covers all transactions and all investing costs.
  2. Platform fees 0.15% of the performance per year. This includes:
    • - Your Personal Investment Plan built by digital experts
    • - 365 days-a-year market monitoring
    • - Ongoing adjustments to your Plan to keep it on track
    • - Buying and selling investments for your Plan
    • - 24/7 access to your money online and mobile
    • - Free withdrawals
    • - Chat,and email support
    • - Your investments held in custody securely using market-leading methods

If you withdraw all your money or close your account we calculate the fixed subscription fee and the Platform fee on a daily basis for that month and deduct these charges before processing your withdrawal.

Will I be charged for exchanging any currencies?

Cross-currency exchanges are free on Automata’s web app.

Will I be charged for exchanging any currencies?

The interbank exchange rate is the dynamic rate at which banks swap currencies between one another. It is a real-time rate, which is why it is constantly changing in our web app and website. We receive these rates from third parties, such as Cross Connect and OFX.

Why should I trust Automata?

We may not have been around as long as some others, but we feel we’ve gone some way to earning your trust.

We take your data security extremely seriously and adhere to the most rigorous industry standards, including 256-bit, bank-level encryption for the transmission of sensitive financial and personal data. We regularly engage Perspective Risk, global leaders in information security to test and audit our systems.

We’ve been featured in a number of leading industry publications, including Medium’s Daily Digest.

We’re fully backed by leading institutional investors, including the German owned Fidor Bank.

We’re available 7 days a week, 24 hours a day to make sure your experience with us is as enjoyable as possible. With a quick booking, you can even come and visit our HQ.

How can we offer this service so cheaply?

Automata uses highly-advanced technology and proven quantitative strategies to keep our fees low. These systems allow us to automate much of our investing process, which means we don’t have to pay exorbitant salaries to fund managers. It also means that we can concentrate on customer service.

Is my money safe ?

We take your data security extremely seriously and adhere to the most rigorous industry standards, including 256-bit, bank-level encryption for the transmission of sensitive financial and personal data

My phone has been lost or stolen. What should I do?

Don’t panic! Your app is password protected. Please contact our support team at support@automata.live to block your account. Once you’ve recovered your phone or got a new once, just log back in and change your credentials in the profile section.

What if someone somehow gets access to my Automata account?

If you suspect someone is using your account, you can change your password in your profile settings or alternatively contact our support team at support@automata.live

How do I report unauthorised access to my account?

Please contact our support team at support@automata.live immediately.

What data do you access and how do you keep it safe?

Automata does not directly access or store your online login details. This is done through a partnership with Amazon AWS, a global leader in secure technology which has over 30m users worldwide and over 1m in the UK alone. When you enter your online banking details, Amazon AWS communicates with your bank and exports only your transactional data on a read-only basis. When doing this, Amazon AWS specifically excludes account or credit card numbers to further reduce risk.

Login details are immediately encrypted and stored (in encrypted form) by Automata on Amazon AWS in a separate database using multi-layered hardware and software encryption. This is the same technology used by banks and is audited and accredited by the Government.

Automata is also fully compliant with current GDPR data protection laws.

Further information relating to Amazon AWS services can be found in section * of Automata Term & Conditions.

If you have any questions, please get in touch.

Can Automata employees see my details, bank account or credit card account?

Most of Automata’s processes are automatised so no Automata employee will ever see your bank account or credit card account login details. Only a limited number of Automata staff will have access to your customer details in order for us to provide you with the Automata products and service if you so require help. This access is managed under a strict data privacy policy that complies with GDPR data protection law in the EU.

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