Reviews

Domain Money Review: Pros, Cons and First Impressions

Domain Money Featured
Some links on our website are sponsored, and we may earn money when you make a purchase or sign-up after clicking. Learn more about how we make money and read our review methodology.

Domain Money aims to bring hands-off and professionally-managed equity and crypto portfolios to all investors.

In this Domain Money review, we’ll cover:

  • How Domain Money works.
  • The available investment options.
  • Pros and cons.
  • Domain Money alternatives.
product-image

Domain Money is a new investment app that allows you to invest in stocks, crypto and NFTs. You can create a customized portfolio or invest in a set of five actively-managed portfolios. You cannot buy NFTs directly, but you can gain exposure to NFTs (and other metaverse related cryptocurrencies) through these actively-managed strategies. The app has a lot of promise, but it’s currently missing core features like the ability to earn interest on crypto holdings, to make withdrawals to external wallets, and to invest using an IRA.

Pros:
  • Currently supports 47 different cryptocurrencies.
  • The actively-managed funds have a strong, albeit limited, track record.
  • There’s no performance fee for the actively-managed portfolios.
  • The crypto trading fee is 1.49% with a $5 minimum investment.
  • Live customer support can be accessed within the app.
Cons:
  • No interest earned on crypto holdings.
  • The Android app has yet to be released.
  • Many core features are not yet available.
  • Does not offer retirement accounts (like an IRA).
  • Only allows for equity and crypto holdings.
  • You’re investing in a tax-inefficient strategy, outside of a tax-advantaged account.

Domain Money Features

Stock Trading

Domain Money offers self-directed commission-free stock trading. 

Trading fee for stocks and ETFs:$0
Minimum trade:$5
Automatic transfer supported?Yes — daily, weekly, bi-weekly or monthly.
Fractional shares?Available.
Order types:Market and limit orders.

Commission-free trading has become standard for new investment apps, with most key competitors — such as M1 Finance, Robinhood and Webull — offering them.

Domain Money’s self-directed stock trading offerings are basic. The platform does not offer extended trading hours, the ability to trade options and futures contracts, or advanced order types. 

Cryptocurrency Trading

Domain Money offers self-directed cryptocurrency trading. Key facts about trading crypto on Domain Money, include:

Number of cryptocurrencies available:47
Cryptocurrency trading fees:1.49%
External wallet transfers?Not available at this time.
Minimum crypto trade:$5
Automatic transfer supported?Yes — daily, weekly, bi-weekly or monthly.

One key feature that is missing is the ability to transfer funds to an external wallet, which Domain Money has said is coming soon. As of today, you have to withdraw your crypto to USD in order to transfer funds to an external bank.

With a trading fee of 1.49%, Domain Money is good for people who are investing small sums into crypto on a regular basis. As discussed in more detail below, many of the larger crypto exchangers charge both a flat fee of between $1 and $2 per trade as well as a percentage-based fee.

Those fees make investing small amounts into crypto quite expensive for smaller investors. Domain Money’s flat fee of 1.49% means that smaller investors will pay less.

Fee to Invest $10Fee to Invest $50
Domain Money$0.15$0.745
Coinbase$0.99$1.99
SoFi$0.13$0.63

Actively-Managed Portfolios

Domain Money currently has four actively managed portfolios you can invest in.

  • Domain Edge. An actively-managed portfolio comprised of 100% crypto.
  • Domain Metaverse. A combination stock and crypto portfolio, which invests in assets related to the metaverse. Stock picks include NVIDIA, Meta Platforms and Microsoft. The portfolio’s largest crypto holdings are Ether, Polygon and Filecoin. Learn more about the metaverse in our guide to digital real estate investing.
  • Domain Balanced. A portfolio comprised of 50% stocks and 50% cryptocurrencies.
  • Domain Access. A portfolio comprised of 80% stocks and 20% cryptocurrencies.

Having launched only recently, Domain Money’s portfolios have just a one-year track record. 

Each of these portfolios is actively managed, and buying and selling occur rather often. While this can help improve returns, it does have tax consequences, because every sale creates a taxable event. And since Domain Money doesn’t offer IRAs as of yet, it’s far from a tax-friendly investment.

Domain Money vs. Titan

The app that most closely resembles what Domain Money has to offer is Titan Invest. Like Domain Money, Titan offers professionally-managed portfolios in both the equity and cryptocurrency space.

Learn more in our Titan Invest review.

Below are some key differences between the platforms:

Domain MoneyTitan Invest
Management fee:1%1%
Performance fee:0%0%
Self-directed trading?AvailableCan only invest in Titan’s pre-made portfolios.
IRAs available?No.Yes.
Lock-ups:None.None.
Account minimum:$100$100

One thing that stands out with Domain Money is the ability to self-direct your investments. Titan only offers the opportunity to invest in managed funds, which include four equity funds and one crypto-only fund. With Domain Money, you can self-direct all or a portion of your assets, along with using their professionally-managed portfolio options.

On the other hand, one thing that stands out about Titan is the ability to invest via an IRA. This makes for an easy way to invest in crypto within a retirement account, without having to open a self-directed IRA.

Pro Tip: Self-directed IRAs allow you to invest in a wider range of assets beyond stocks and bonds, including real estate, startups, and crypto. To learn more about self-directed IRAs, check out our Alto IRA review, Choice IRA review, and Rocket Dollar review.

Domain Money vs. Alternative Crypto Exchanges

Domain Money launched with the ability to invest in 47 different cryptocurrencies. While this isn’t as high a number as Coinbase or Gemini, it’s a very respectable amount. For comparison’s sake, Webull and SoFi list less than 30 different cryptocurrencies on their platforms.

What else stands out is their trading fee of 1.49% on every purchase. While this is on the high end for those investing large sums, it’s on the lower end for those investing small sums.

Typically, exchanges like Coinbase and Gemini have both a flat trading fee that varies from around $1 to $2 and a percentage-based fee of around 1% to 2%. As such, you may be looking at a 10% transaction fee when investing small sums.

Domain Money charges no flat fee, making their cryptocurrency trading platform ideal for beginner investors investing small sums. However, as it currently stands today, you cannot withdraw your crypto to an external wallet. That means any withdrawals have to be converted to cash, and potentially incur taxable gains. 

Personally, I would wait until the ability to transfer to external wallets is added before investing a significant sum into crypto with Domain Money.

If you’re regularly investing small sums into crypto, an alternative option is Juno. While Juno doesn’t allow you to invest in stocks, you can buy and sell crypto on the platform for as little as $1 with minimal (or zero) fees. The biggest downside is that Juno only offers the ability to trade six major cryptocurrencies.

See our Juno review to learn more.

Is Domain Money Right For You?

Domain Money is a name to keep an eye on.

The app itself only launched to the public in January 2022. If you were to download it today, you would notice that many core features are missing, such as borrowing, crypto savings accounts, external withdrawals to a private wallet and IRAs.

To Domain Money’s credit, they mention borrowing, crypto savings accounts and crypto withdrawals as features coming soon — though there’s no word yet on IRAs.

Until these features are added, it’s hard to justify using this as an all-in-one trading app. Right now, their actively-managed portfolios are worth looking into if you’re someone who is looking to diversify into crypto with a taxable account and you want a hands-off approach.

Domain Money’s founder is is Adam Dell, who was former head of product at Marcus by Goldman Sachs. And the company has an impressive list of early investors, including Marc Benioff (the founder of Salesforce).

With the team they’ve assembled, it’s less of a worry of if these features will be added but when. And when they are added, the combination of a professionally-managed stock and crypto portfolio and the ability to create a customized self-directed portfolio of your own will help the platforms stand out in what is becoming a crowded space.

R.J. Weiss
R.J. Weiss is the founder and editor of The Ways To Wealth, a Certified Financial Planner™, husband and father of three. He's spent the last 10+ years writing about personal finance and has been featured in Forbes, Bloomberg, MSN Money, and other publications.

Leave a reply

Your email address will not be published.