How does Ginmon work?
If you want to become a Ginmon customer, you only have to set up a monthly savings plan of €50. A minimum deposit is generally not required. Before that, customers must answer seven security questions so that the robo-advisor can assess their risk appetite. The appropriate investment strategy for the customer is then determined. Ginmon offers a total of ten different investment strategies – we explain which these are later in the article.
You can also adjust the suggested strategy if the robo-advisor judged you too risk-averse or too cautious. This does not work with some other providers. Once you have decided on a strategy, you will be shown the expected performance, including returns and costs, and a composition of your portfolio. If you don’t like that, you can change the investment strategy – and then open the account.
Once the depot has been opened and the money paid in, the robo-advisor automatically invests the money in various ETFs according to the selected strategy – including stocks, bonds, commodities and currencies.
You can dispose of the invested money at any time and also deposit it into your account. There is also no minimum term. You can cancel your account with Ginmon and end the service at any time.