Kristal.ai - Unpacking Singapore's Robo-Advisory and Investment Platforms
Disclaimer: The following content is provided for informational purposes only and should not be construed as financial advice. Consult with a financial professional before making any investment decisions.
Kristal.ai: A Detailed Examination of the Investment Platform
Brief: A seasoned platform, yet it misses the mark for me. Although the intentions seem noble with intriguing possibilities, the drawbacks outweigh the benefits. There’s also a noticeable lack of some key features.
Onboarding Process
- Verification involves proof of address, which can be ID, a bank statement, or a utility bill.
- You are required to send a video of yourself holding your passport, via email or WhatsApp.
- The entire process, from registration to fund transfers, tends to feel somewhat sluggish.
- Overall user experience: 3/5
Strengths
- Relatively low costs.
- Communication can be done through WhatsApp, with the team being responsive.
- Funds are held in Singapore.
Weaknesses
- Account activation took a full week with multiple follow-ups, despite their initial claim of one business day.
- The most appealing portfolios require a higher buy-in, ranging from 1,500 to 10,000 USD.
- There’s no active management or robust robo-advisor functionality. Portfolios are largely collections of 5-8 ETFs.
- Analyses and fact sheets are not updated consistently (the most recent update being November 2019, with no subsequent changes, even in the face of the Covid-19 pandemic).
- Setting a stop-loss is not an option, which is a major setback!