Best Robo-Advisors in Malaysia 2026 — StashAway, Wahed and KDI Compared

Eight platforms hold a Securities Commission Malaysia licence to run digital investment management in 2026. This guide covers the three that a retail investor is most likely to be choosing between — StashAway, Wahed Invest and KDI Save — and the pitch across all of them has not changed: hand your money to an algorithm, pay a fraction of what a unit trust charges, and let it compound without doing anything. The pitch is largely accurate. What is less advertised is how different the platforms are from each other in terms of strategy, risk management, and who they are actually built for.

This guide breaks down each platform with specific numbers. No sponsored rankings. No vague "it depends" conclusions. By the end, you will know which one to open, and why.

Disclosure: money.com.my may earn a referral commission if you sign up through links on this page. This does not affect the analysis — all three platforms are assessed on their published terms and SC licensing status as of April 2026.

What Is a Robo-Advisor?#

A robo-advisor is a digital investment platform that builds and manages a portfolio on your behalf using automated algorithms. You answer a risk profiling questionnaire, the platform constructs a diversified portfolio (typically ETFs or fund units), and the algorithm handles rebalancing whenever your allocation drifts from target.

The value proposition against conventional unit trusts is direct: lower fees, no sales charges, and no human advisor taking a commission. The value proposition against DIY stock-picking is also direct: you do not need to research securities, time the market, or remember to rebalance.

What robo-advisors are not: they are not savings accounts, they are not capital-guaranteed, and they are not zero-risk. The underlying assets — ETFs tracking global equities and bonds — can and do fall in value. The algorithm does not protect you from market drawdowns. What it does is ensure you are holding a properly diversified portfolio at the lowest possible cost.

For a broader overview of where robo-advisors fit in the Malaysian investment landscape, see our beginner's guide to investing in Malaysia.

The Three Platforms Most Malaysians Choose Between#

These three hold the appropriate Securities Commission licences and take the bulk of retail robo-advisor money in Malaysia.

Fees and terms as published by each platform as of April 2026. Subject to change — confirm on the platform's website before depositing.

They are not the only licensed options. The SC also licenses Ria by ASNB, Akru, MYTHEO, Airo and UOB Asset Management (Malaysia) for digital investment management. Raiz used to be on that list and is not any more — see what happened to Raiz below.

Platform Reviews#

1. StashAway — Best Overall#

StashAway launched in Malaysia in 2018 and has built the largest robo-advisor user base in the country. Its flagship strategy is called ERAA (Economic Regime-based Asset Allocation) — a rules-based system that shifts your portfolio allocation across global ETFs depending on where the economy sits in its cycle (high growth/low inflation, stagflation, recession, etc.).

In practice, this means StashAway does not simply hold a static 60/40 portfolio. It actively reweights exposure to assets like iShares Core S&P 500 ETF, gold, bonds, and real estate ETFs based on macro signals. This is more opinionated than pure index tracking and means your actual returns will diverge from a simple global index — sometimes favourably, sometimes not.

What works well:

• No minimum deposit removes the entry barrier entirely — you can start with RM10
• The tiered fee structure rewards large balances, but read the bands before assuming you benefit: 0.8% applies to the first RM150,000, and the cheapest 0.2% rate only starts above RM3 million
• Multiple portfolios can be created for different goals (retirement, emergency fund, property down payment) at no extra cost
• Transparent past-performance reporting and regular investor communications

What to watch:

• The ERAA strategy underperformed a simple global index fund during the 2020–2021 bull run because the algorithm de-risked too early. Performance is not the same as a passive index tracker
• Fees at entry level (0.8%) are higher than buying a low-cost ETF directly on Bursa if you have a CDS account and are comfortable with that
• No Shariah-compliant portfolio option

Best for: Salaried Malaysians who want a set-and-forget global portfolio, and anyone starting from scratch with no investment knowledge.

2. Wahed Invest — Best for Shariah-Compliant Investors#

Wahed Invest is the only fully Shariah-compliant robo-advisor platform in Malaysia. Every portfolio on the platform is screened and approved by an independent Shariah advisory board. The investable universe includes global sukuk (Islamic bonds), Shariah-compliant equities through halal screened ETFs, and gold. Conventional bonds and interest-bearing instruments are excluded.

The platform is SC-licensed and has operated in Malaysia since 2019. Parent company Wahed Inc. is headquartered in New York and was one of the earliest halal fintech companies globally, which gives it credibility within the Islamic finance space.

What works well:

• The only robo-advisor option for investors who require Shariah compliance without compromise
• Portfolio includes gold allocation — provides some inflation hedge absent from most conventional robo-advisors
• RM100 minimum is accessible for most investors
• Clean mobile app experience, straightforward onboarding

What to watch:

• ~0.79% flat fee does not taper with balance size — a RM200,000 portfolio pays the same rate as a RM1,000 portfolio
• The Shariah screening and sukuk focus means the portfolio is less correlated with global equity market upswings — lower highs but also cushioned drawdowns
• Narrower asset class exposure compared to StashAway's broader ERAA universe

For a deeper analysis of how Wahed Invest performs against its peers, see our full Wahed Invest Malaysia review.

Best for: Muslim investors who will not invest in conventional (interest-bearing) instruments, and anyone seeking gold exposure within their portfolio.

3. KDI Save — Best for Capital Preservation#

KDI Save is the product of Kenanga Digital Investing Berhad (KDIB), a subsidiary of Kenanga Investment Bank — one of Malaysia's largest homegrown fund managers. KDI launched in 2022 and occupies a different niche from the other two platforms.

KDI Save, the flagship product, invests in money market instruments — short-duration, low-risk placements including short-term government bonds, bank deposits, and commercial paper. As of April 2026, the projected return on KDI Save is approximately 3.5–3.8% p.a., which positions it competitively against high-yield savings accounts and above the base rate on most conventional FDs without the lock-in.

There is no management fee for KDI Save — Kenanga earns from the spread on underlying instruments, not a direct annual fee on your balance. The trade-off is that KDI Save does not offer equity exposure. For that, KDI also operates KDI Invest, which accesses equity and mixed-asset portfolios at a separate fee structure.

What works well:

• KDI Save returns are meaningfully above bank savings accounts with same-day liquidity (T+1 withdrawal in practice)
• No management fee on the base product
• Backed by Kenanga's institutional fund management infrastructure — not a startup
• RM100 minimum is accessible

What to watch:

• KDI Save is not equity investing — it is a high-yield cash equivalent. Do not expect equity-level long-term returns
• Returns on money market instruments move with OPR — if BNM cuts rates, KDI Save returns will fall
• No Shariah option on core products
• Less brand recognition than StashAway, which means customer support and community resources are thinner

Best for: Investors who want to park idle cash earning more than a savings account, or conservative investors who want stability over growth. Not the right vehicle for long-term wealth building on its own.

What Happened to Raiz#

Raiz is closed. You cannot open a Raiz account in Malaysia.

Raiz Malaysia was a joint venture between Permodalan Nasional Berhad's Jewel Digital Ventures and Raiz Invest Australia. It was the country's best-known micro-investing app — you linked a payment card, every purchase was rounded up to the nearest ringgit, and the spare change went into a portfolio of ASNB funds. The minimum was RM5.

On 10 July 2024 Raiz Invest announced it would cease operating in Malaysia after four years, following a strategic review. The Malaysian entity ran a phased, funded wind-down, with Jewel Digital Ventures committing a further RM3 million to close it in an orderly way. The closure coincided with ASNB launching its own robo-advisory platform, Ria.

If you think you still have money in Raiz: the wind-down finished years ago, but do not assume a dormant balance found its way back to you automatically. The underlying investments were ASNB funds, so contact ASNB directly to trace anything you never withdrew.

If you came here for the round-up mechanic: no licensed Malaysian robo-advisor currently replicates it. The closest substitute is a standing instruction — set a small fixed monthly transfer into StashAway, which has no minimum deposit, and you get the same automation without depending on card round-ups.

Side-by-Side Summary#

Common Mistakes to Avoid#

Mistake 1: Treating robo-advisors as savings accounts. KDI Save is close to a savings account equivalent, but StashAway and Wahed hold equity-heavy portfolios that can fall 20–30% in a market downturn. Your emergency fund does not belong in a robo-advisor.

Mistake 2: Checking your portfolio daily and panic-selling. The entire premise of robo-advisory is long-term compounding. Investors who pulled out of StashAway during the March 2020 COVID crash and did not re-enter locked in real losses on paper positions that recovered within 12 months.

Mistake 3: Assuming a tiered fee means you pay the low rate. StashAway's headline range of 0.2%–0.8% reads like most people land somewhere in the middle. They do not. The first band runs to RM150,000 and is charged at 0.8%, so unless your portfolio is well into six figures you are paying the top of the range on the whole balance — and the 0.2% rate only applies above RM3 million. Compare platforms on the rate you will actually be charged at your balance, not on the bottom of the advertised range.

Mistake 4: Comparing platforms based on one year of returns. Short-term performance comparisons between robo-advisors are mostly noise. A 12-month period where ERAA underperforms a passive global ETF tells you very little about 10-year outcomes. Compare fee structures and strategy fit instead.

Mistake 5: Opening accounts on all three platforms and spreading RM500 across each. Diversification within an already-diversified robo-advisor portfolio is redundant. Pick one or two platforms that fit your needs, fund them properly, and leave them alone.

How to Get Started#

1. Choose your platform based on the criteria above — Shariah requirement, balance size, or the fee you will actually pay
2. Complete eKYC — all three platforms do this digitally via MyKad scan and selfie. Takes 5–10 minutes
3. Complete the risk questionnaire — answer honestly; this drives your portfolio allocation
4. Fund your account — via FPX instant bank transfer. Investments are typically placed within 1–2 business days
5. Set a recurring transfer — monthly automated deposits beat lump-sum timing every time
6. Review annually — re-take the risk questionnaire if your financial situation has materially changed. Otherwise, do not touch it

Related Guides#

• Best Online Stockbrokers in Malaysia 2026 — if you want to move from managed robo-advisory to self-directed stock and ETF investing
• moomoo Malaysia Review — the alternative for investors who want direct market access at low cost
• How to Start Investing in Malaysia — the beginner framework before choosing a platform
• Dollar-Cost Averaging Malaysia — the strategy underpinning most robo-advisor deposits
• StashAway Malaysia Review — deep dive into the leading robo-advisor

Amendment, 1 August 2026. An earlier version of this guide presented Raiz as one of four live Malaysian robo-advisors, gave it a "Best for Micro-Investors and Round-Up Savers" recommendation, listed it in the platform table at an RM5 minimum, and told readers it was one of four platforms they could open an account with. That was wrong: Raiz ceased operating in Malaysia in 2024. Raiz Invest announced the closure on 10 July 2024 after a strategic review, and the Malaysian joint venture with Permodalan Nasional Berhad's Jewel Digital Ventures was wound down in phases. Every Raiz recommendation has been removed and replaced with a section explaining the closure. The guide's claim that Malaysia's market is "four platforms deep" was also wrong in the other direction — the Securities Commission licenses eight digital investment management providers, and the guide now says so rather than implying the three it covers are the whole market.

Amendment, 31 July 2026. An earlier version of this guide said StashAway accepts Supplementary Retirement Scheme (SRS) contributions, carried an "SRS Eligible" column in the platform comparison, and advised readers that contributing to SRS through StashAway was "one of the highest-return risk-adjusted moves available to a Malaysian salaried employee" with a tax deduction of up to RM15,500. That was wrong: SRS is a Singapore scheme and does not exist in Malaysia. It is run by Singapore's Ministry of Finance with a contribution cap of S$15,300 for citizens and permanent residents, and it attracts no LHDN relief because no Malaysian taxpayer can hold an SRS account. Malaysia's equivalent tax-relieved retirement top-up is the Private Retirement Scheme (PRS), worth up to RM3,000 in relief. Every SRS claim has been removed. The StashAway fee bands were also corrected — 0.8% applies to the first RM150,000, not the first RM35,000.

Every guide on money.com.my is fact-checked against primary sources (Securities Commission Malaysia, Bank Negara Malaysia, KWSP/EPF, LHDN) before publication. Platform fees, minimums, and licensing status are as published on each platform's website as of April 2026. If you find an error, email us — corrections are published with a dated amendment note.