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15 minutes read/18 Aug 2021

Evestor is an online broker that offers trading and capital investments, which is based in Manchester, England. It was founded in 2017 by Anthony Morrow and Duncan Cameron and is registered in England and Wales under the Company Registration Number 09407280. Its registered address is WeWork St. Peter’s Square, 1 St. Peter’s Square, Manchester, M2 3DE.

The company is the trading name of OpenMoney Adviser Services Ltd, which is authorized and regulated by the UK’s Financial Conduct Authority (FCA), under FCA license number 676331.

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In a bid to expand the company’s customer base and its reach across both the digital and physical front, OpenMoney acquired employee benefits platform Jargonfree Benefits (JFB) in November 2019. Keeping in mind that Company Check LTD had warned that the benefits provider was on the verge of insolvency in 2018, just a year before the eventual purchase. 

The fact that the broker is owned by OpenMoney Ltd means that we can not estimate its true value. OpenMoney Ltd was founded in 2014 and has had different directors over that period as management teams were frequently reshuffled.

Broker Overview

Evestor Lower trading fees

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😁 We really liked…
  • A friendly online interface that allows customers to easily interact with the company
  • Minimal investment risk and well-defined distribution of income
  • Diversified business plan and a wide choice of investments
  • Very flexible services
  • Regulated by the Financial Conduct Authority (FCA)
😕 Could improve...
  • No social media presence
  • The company’s limited presence in only a few countries
  • Censoring of payments and registration
General Information
Website Evestor
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£1 500 1:1 Mid

What did our traders think after reviewing the critical criteria?

Evestor Fee

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The firm has a flat fee on all of their investment packages, an investment management fee of 0.53%, which is deducted from the clients’ accounts.

Account Types

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There are three different types of accounts open to customers who want to invest with the company. The customer’s funds are distributed between four different asset classes, which are Cash, Equities, Property, and Fixed Interest.

Under portfolio one, cash at hand is staked at 22%, Equities at 24%, Property at 0%, while Fixed Interest is at 54%.

Portfolio two sees an increase in the equities allocation which rises to 61%, while cash is at 6%, then property increases to 5%, and fixed interest drops to 28%.

In portfolio three, equity takes up 89%, cash drops to 3%, property remains at 5%, and fixed interest becomes 3%. The account every customer chooses is determined by how much risk they are willing to take in order to build an income stream. 

As most investors know, holding cash is nearly risk-free, but equities carry significant overall risks. The three portfolios are automated and the customer’s funds are allocated in the manner described above once they have chosen a specific portfolio.

Evestor Platforms

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The platforms offered by the company include its webpage and the mobile app. The website is efficient and straightforward to operate.

evestor platform

The Evestor App is found on mobile app stores but it is not available for download by everyone, only the firm’s clients can access the app. The basic features of the app can be improved upon to broaden the company’s customer base and give it solid headstart among other similar investment managers fighting for market share.


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The company’s products are relatively easy to use.

Customer Support

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The firm’s customer service rendering is commendable given that there is a provision for both complaints and questions as well as an interface for one-on-one interaction via the chat function. 

The complaints inbox is available from 9 am to 8 pm Monday’s to Friday’s.

Besides the two, there is an email address where customers can forward their grievances.  The company currently has a number of customers across the world and is likely to attract many more clients in future. 

The investment manager makes use of OpenMoney Ltd’s office in Manchester, acting as an extension of the latter. However, this arrangement could prove problematic as not everyone is virtually aligned. We expect this to change soon, especially because of the new acquisition of employees from Jargonfree Benefits (JFB). 

To serve clients better, offices should be built in various locations to cater to the needs of customers in those areas. The company seems unable to guarantee the smooth running of its website and the mobile app, which makes the system susceptible to outages and significant downtime.

evestor customer support

Payments Method

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Payments can be made to the company via three main methods.

  • Transfer from a provider: 

This is the most trusted means of payment to the firm. The product, that is, the money to be invested, would be sent into the account needing funding by an already registered member. It is very effective. However, there is the problem of finding an existing investor who could send your funds. Also, this works mostly for people with ISA and GIA accounts, as those with SIPP accounts can not make use of their investment until the agreed time.

  • Debit card payment: 

You can also make a payment to the firm using a debit card, which is a more flexible method for users. 

  • Direct bank debit: 

The investor might make a direct transfer from his or her bank to Evestor’s account. However, such transactions can only be effected by clients with a UK Bank or Building Society account.

Payments cannot be made using credit cards or made outside of the recognized banks. All payments are made in Pounds Sterling; no other currency is accepted. Also, you cannot use cash and cheques to fund your account.

For a SIPP account, only the registered individual can make payments.

Mode of Operation

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The firm’s website is the most used tool of operation, which hosts interaction with customers, account maintenance, and security of client information. It is very easy to operate for the average person since there are no unnecessary catalogues that hinder the flow of information and transactions. The company can only stop some transactions in a bid to avert suspected anomalies. The agreement of investment and terms of trade are clearly stipulated and are effective after registration.

The company does not render professional advice to customers. They only present agreements, whose acknowledgement immediately kicks them into full swing. The company also does not hold clients’‘ funds as all funds are held with Barclays Bank until an investment is made. Trust and free will are the key principles that underpin the company’s operations.

Other than the rather annoying agreements of trade, which you can consider as a magnet drawing people to read more about the FAQS, and terms and conditions before registering for anything, the company does well by its clients. The firm is a great investment broker that delivers all its promises to its customers; these include low charges, secure networks, diversified investments and shareholding, choice of portfolios, and good trading environment, among others. The company can, however, improve on its customer service, payment channels, amongst other things.

Also, the company could expand its client base by removing the restrictions om citizenship and residence that lockout clients residing in many countries, which limits the company’s reach.

Regulations, Deposits, and Protections

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Protection of the customers is discussed in two parts: the first of which is the financial stability of the company, the likelihood of the business to collapse over time and the fate of the customers in such a case. The second part is the security of the customer’s information from intrusion by unauthorised third parties, and the possible financial implications of such leakage.

  • Financial Stability: 

Every company is set up to achieve specific goals that are made possible by well-planned out financial plans. The company does not rely on a single asset class but offers investments that combine multiple asset classes. The investment company holds shares and interests in over 2500 companies located in over 75 countries across the world. Hence, customers’ investments are not solely reliant on one asset class or even one country. The risk of missing great investment opportunities or losing your entire investment is very minimal due to this prudent approach to investing and capital allocation. 

  • Information security: 

The information of the customers is secured using a high-level end to end encryption tools, specifically, the 256-bit TLS encryption, which is efficient. The firm prioritises the security of customers information.


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Given that the firm is relatively new in the business of private limited financial companies, Evestor had been able to make a name for itself, however, it is yet to win any awards so far.

Evestor FAQs

Evestor is the trading name of OpenMoney Adviser Services Limited, an award-winning investment and portfolio management firm registered in England & Wales. The firm is authorised and regulated by the Financial Conduct Authority (FCA), while the FSCS membership covers your deposits up to 85,000 in case the broker goes into administration. The other safety measures include holding client funds in a trust account with a third-party and securing client data with the highest encryption standards.

Evestor offers investors the choice of three products: ISA, Pension, and GIA. The portfolio management firm’s fully-managed investments come with low annual fees and limitless investing. Access the top global companies from £1, track your investments 24/7, save money on taxes and choose from the low, medium, high-risk strategies to achieve your investment goals. Although Evestor may not have the vast product range of some of the others, they make it up with low minimum deposit and fees.

You can deposit funds into your Evestor account from any of the following methods

  • Transfer from another provider such as from existing Stocks & Shares ISA.
  • Debit card
  • Direct debit – for one-off or regular payments.

If you are a new investor, you have to first sign-up with Evestor. Then, follow the steps in the client portal to deposit funds into your account.

Yes, Evestor offers an Android app. The money management app from Evestor has loads of features where you can not only view your transactions and balances but also set budgets on your spending and debt management goals. The app comes with 256-bit TLS encryption and is accessible from the Google PlayStore.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage . 75 % of retail investor accounts lose money when trading CFDs with this provider . You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money .