≡ Menu

Compare the UK’s cheapest online brokers

 Last updated on 30 August 2019.

Behold! An at-a-glance cost comparison of the UK’s main online brokers and investment platforms. These services enable you to buy, manage, and sell your funds, shares, investment trusts and ETFs at a cheap price. All these services are online and execution-only.

The Good for column shows what we think is the best deal by price, relative to account type and portfolio mix.1

This table is edited by fallible human beings. Do your own research. We fix mistakes as soon as possible but we cannot be held liable or accountable for any errors. Please add updates or erratas in the comments below.

Like other price comparison websites, we may be paid a bonus if you sign-up via a link. This does not affect what you pay.

Flat fee brokers / platforms


Company Annual platform fee Fee notes Dealing: Funds Dealing: ETFs, ITs, & shares Regular investing Entry fee Exit fee2 Good for
Halifax / Bank Of Scotland Share Dealing £12.50 £12.50 £2
Shares ISA £12.50
SIPP £90 if SIPP worth less than £50K. £180 if SIPP more than £50K + £180 p.a. drawdown £60 per transfer. Max £300 £90 Fund portfolios above £102K
iWeb £25 one-off account opening charge3 £5 £5 Large portfolios and infrequent traders, check vs ii, Share Centre, Lloyds and Halifax
Shares ISA
Trading The cheapest if you rarely trade
SIPP £90 if SIPP worth less than £50K. £180 if SIPP more than £50K + £180 p.a. drawdown £60 per transfer. Max £300 £90 Fund portfolios above £102K
Lloyds Bank Share Dealing £40 Only one fee if you hold ISA and trading account £1.50 £11* £1.50 £0
Shares ISA Fund portfolios over £26K4, unrestricted mixed ETF/fund portfolios5
Trading Fund portfolios over £26K6, unrestricted mixed ETF/fund portfolios7
SIPP n/a
Interactive Investor8    £119.88 Investor Plan9 1 free trade per month10 £7.9911 £7.9912 £0.99 £0
Shares ISA
Trading  –
SIPP + £120 + £120 p.a. drawdown
ShareDeal Active Telephone dealing only for funds £9.50 £9.50 £12 per holding + £60 account closure
Shares ISA £60 £18 cash withdrawal
Trading As above
SIPP £118.80 No fee for first year. + £180 p.a. drawdown
HSBC Invest Direct £42 Charge per account. No funds n/a £10.5013 £15 per holding
Shares ISA
Trading  –
SIPP n/a
The Share Centre 1%. £7.50 min* 1%. £7.50 min* 0.5%. Min £1 Large trading accounts
Shares ISA £60 £25
Trading £24 £25 Alternative to Halifax, iWeb, Selftrade, Lloyds
SIPP £180 + £234 p.a. drawdown  £125

Note: Charges may actually be due per month, quarter, six monthly or annually. We’ve chosen to show annual cost of service. All prices include VAT. *A frequent trader rate or bonus is also available. Other charges may be applicable that aren’t included in the table. N.B. Accounts held with Halifax / Bank Of Scotland, Lloyds Bank, and iWeb count as one for the purposes of the FSCS compensation scheme.

Percentage fee brokers / platforms


Company Annual platform fee Fee notes Dealing:
Dealing: ETFs, ITs, & shares Regular investing Entry fee Exit fee14 Good for
Vanguard Investor 0.15% on first £250,000, 0% thereafter. Tiered charge. Max £375 Investments restricted to Vanguard funds and ETFs only £0 £0 for fixed daily times, £7.50 to trade at other times £0 £0 Beats other % fee brokers in most cases and flat-fee brokers up to £43K-£55K but restricted range
Shares ISA Fund portfolios up to £43K, mixed ETF/fund up to £55K, ETF portfolios up to £47K
Trading Fund portfolios up to £43K, mixed ETF/fund up to £55K, ETF portfolios up to £47K
SIPP n/a
Cavendish Online 0.25% on all investments 0.20% on whole balance if over £200K in all accounts combined £0 £1.50
(Not charged on funds)
£0 Small fund portfolios
Shares ISA £10 Fund portfolios below £26K
Trading £10 Fund portfolios below £26K
SIPP £3 for new contribs, £1.50 for other trades15 Fund portfolios below £102K
AJ Bell Youinvest 0.25% on first £250,000 of funds16 Tiered charge e.g. 0.25% on first £250K then 0.1% on next £750K etc £1.50 £9.95* £1.50 £25 per holding
Shares ISA + 0.25% charge (max £30) on ETFs, ITs, shares, and bonds
Trading As above
SIPP + 0.25% charge (max £100) on ETFs, ITs, shares, and bonds + £120 p.a. drawdown + £90 Unrestricted ETF and mixed ETF/fund portfolios
Fidelity 0.35% on all assets worth £7500 – £249,99917 Assets under £7500 = £45 p.a. or 0.35% with monthly savings plan18 £0 £10 £1.50 (Not charged on funds) £0
Shares ISA ETF and IT fees capped at £45
Trading ETF and IT fees waived
SIPP ETF and IT fees capped at £45 £0 drawdown ETF portfolios – restricted range
Charles Stanley Direct 0.35% on first £250,000 of funds19 0.35% on shares, ETFs and ITs. Min £24 / Max £24020 £0 £11.50 £10 per holding
Shares ISA
SIPP + £120 No £120 charge if £30,000+ across all accounts. + £60 p.a. drawdown + £150
Selftrade 0.3% on first £50K of funds. 0.25% £50K – £250K. 0.15% over £250K. £1,000 max. Tiered + £12.50 (+ £4.99 per account) minus dealing fees/fund platform charges per quarter. Min £0 / Max £89.92 p.a. £0 buy, £10.99* sell £9.99* ETFs,£10.99* shares, ITs £1.50 £15 per holding ETF portfolios with unrestricted range
Shares ISA Unrestricted ETF portfolios21
Trading £4.99 quarterly account charge waived if you own ISA / SIPP Unrestricted ETF portfolios22
SIPP + £118.80 + £180 p.a. drawdown + £90
HSBC Global Investment Centre 0.25% on all investments Trackers restricted to HSBC index funds only £0 £0 Small fund portfolios
Shares ISA
SIPP n/a
Close Brothers 0.25% on all investments £0 £8.95 £0 Small fund portfolios
Shares ISA
SIPP £0 drawdown
Bestinvest Platform fee applies to all investments Tiered charge e.g. 0.4% on first £250K, 0.2% on next £750K etc £0 £7.50  –
Shares ISA 0.4% on first £250,00023 0.2% £250,001 – £1 million, 0% over £1 million
Trading As above As above
SIPP £120 p.a. + 0.3% on first £250,00024 0.2% £250,001 – £1 million, 0% over £1 million. + p.a. £120  drawdown25
Barclays Smart Investor 0.2% on funds (£48 min, £1500 max) 0.1% on ETFs, ITs, shares, bonds (£48 min, £1500 max) £3 £6* £1 £0
Shares ISA
SIPP + £150 + £120 p.a. drawdown £90 per transfer capped at £450 + £90
Hargreaves Lansdown 0.45% on first £250,000 of funds26 Tiered charge. You pay 0.45% on first £250K then 0.25% on next £750K etc £0 £11.95* £1.50 (Not charged on funds) £30 account closure + £25 per holding
Shares ISA + 0.45% charge (max £45) on ETFs, ITs, shares, and bonds
SIPP + 0.45% (max £200) on ETFs, ITs, shares, and bonds £0 drawdown
Aviva 0.4% on first £50,000 of funds27 Tiered charge. You pay 0.4% on first £50K then 0.35% on next £200K etc £0 £0
Shares ISA
SIPP £0 drawdown

Note: Charges may actually be due per month, quarter, six monthly or annually. We’ve chosen to show annual cost of service. All prices include VAT. *A frequent trader rate or bonus is also available. Other charges may be applicable that aren’t included in the table.

Share dealing brokers


Company Annual platform fee Fee notes Dealing:
Dealing: ETFs, ITs, & shares Regular investing Entry fee Exit fee28 Good for
Degiro  £0 Degiro may lend out your shares. A custody account avoids this but charges €1 + 3% (max 10%) for dividend payouts29 n/a Some commission-free ETFs.30 €2 + 0.038% for other ETFs. £1.75 + 0.022% for shares31 €10 per holding €10 per holding Commission-free ETF range, frequent traders
Shares ISA n/a
SIPP n/a
Freetrade Smartphone app only.
Restricted list of ETFs
n/a £0 for fixed daily time, £1 to trade at other times £0 Commission-free ETF range, frequent traders
Shares ISA £36
SIPP n/a
X-O.co.uk No funds n/a £5.95 £18 per holding
Shares ISA + £60 account closure
SIPP £118.80 No fee for first year. + £180 p.a. in drawdown + £60
IG Funds in SIPP only. Only one fee for ISA and trading account £0 £8*
Shares ISA £96 £24 waived quarterly by 3+ trades a quarter in trading account32 £0
Trading £96 As above £0
SIPP £200 + 0.18% on first £500,000 of funds Tiered charge. 0.15% £500,001 – £1 million, 0.05% over £1 million. + £150 p.a. in drawdown + £150
Interactive Brokers $10 inactivity fee per month. Reduced by value of trades33 $20 inactivity fee per month if equity balance below $2,00034 n/a £635 International shares / ETFs
Shares ISA n/a
SIPP Fees vary
Trading 212 £0 Restricted list of ETFs n/a £0 £0 Commission-free ETF range, frequent traders
Shares ISA
SIPP n/a

Note: Commission-free brokers generally make money from spreads, foreign exchange fees and cross-selling of other services. Charges may actually be due per month, quarter, six monthly or annually. We’ve chosen to show annual cost of service. All prices include VAT. Other charges may be applicable that aren’t included in the table.

Who is this online broker comparison table aimed at?

We have focussed on low cost platforms that suit DIY investors who want to build a diversified portfolio through index funds and ETFs. The Good for column is therefore aimed at passive investors.

Percentage fee brokers are much better for small investors whose assets are likely to remain below £25,000 (in an ISA) or £100,000 (in a SIPP and depending on the mix of assets) for some time to come. If you can only invest small amounts at a time then choose a broker who charges £0 for fund dealing. (Aim to pay no more than 0.5% of your contribution in dealing costs, at the very most).

Fixed fees take a disproportionate chunk out of the assets of small investors. This is why Vanguard Investor or Cavendish Online are generally the best for small investors using ISAs and Cavendish Online is best for small investors using SIPPs.

Flat fee brokers are better for most investors who’ve accumulated over £25,000 (in an ISA) or £100,000 (in a SIPP and depending on the mix of assets) – percentage fees can siphon off eye-watering amounts if your broker doesn’t apply a cap. Sadly, the table is complicated because every broker is trying to carve out a niche for itself by offering something slightly different to its competitors.

That means there is no one size fits all solution. The Good for column in the table gives you an idea of each broker’s strengths.

Our calculations assume one purchase per month and four sales per year, and that you take advantage of lower priced regular investment schemes when available. Portfolios consist of funds or ETFs or a 50:50 mix.

ETFs vs fund portfolios – Below around £25,000 you’re probably better off with funds. There’s very little to separate Interactive Investor, Halifax, Lloyds, iWeb, YouInvest, Selftrade and Share Centre above that level if you’re a moderate trader using either product type. Ultimately, product OCFs, your trading frequency and picking the right tracker for the job will be more important.

Beginners starting in funds should look at Vanguard Investor or Cavendish Online. 
Low traders – check iWeb and Halifax for ISAs.
Whichever broker you plump for, do check it carries the funds you require. There is considerable variation in range between platforms.

Where is my missing broker?

We haven’t included every last option in this version of our table but we have included the most competitive players in the market. Do let us know if you think we’ve missed anyone important.

More on costs and fees

The ‘Platform charge’ category is intended to capture the various types of service fee typically levied by platforms i.e. custody fee, platform charge, administration fee, inactivity fee and so on until the end of time / your tether.

Assume platform charges are levied per account unless otherwise indicated in the notes column or the footnotes.

Platforms levy various additional costs for extras such as telephone trading. Check a platform’s rates and charges schedule before committing.

These costs are on top of the suite of fees you will pay for investment products such as the Ongoing Charge Figure (OCF).

Take some time to calculate the likely cost of your portfolio when choosing the right broker.

SIPP charges on the table don’t include all the various additional fees levied for services once you’re in drawdown. The drawdown figure we do include is the annual ongoing charge you’ll pay for being in flexi-access drawdown.

Platforms run temporary offers and discounts from time-to-time. These are ignored as investing is for the long-term.

Understanding account names

Accounts names vary across the online broker universe. However they typically conform to the following types:

  • Trading = a taxable account i.e. it’s not not an ISA or a SIPP and will incur dividend income tax and capital gains tax if it grows large enough. Suitable investments typically include funds, shares, Exchange Traded Funds (ETFs), Investment Trusts (ITs), bonds and more.
  • Shares ISA = Stocks and Shares ISA. Tax sheltered. Suitable investments as above.
    • SIPP = Self-Invested Personal Pension. Tax sheltered. Suitable investments as above.

Why are there only links to some brokers?

Links to brokers are affiliate links, where we may be paid a fee if you go on to open an account with them. We do not choose to include brokers in our table based on whether such affiliate fees are on offer, nor does the existence of such an arrangement change the fees you pay – it is a marketing payment made by them as an incentive for websites to drive traffic to their site. We’d like more brokers to pay us when we introduce new customers – it helps us pay our way on Monevator! Including all brokers but only linking where an affiliate agreement is in place was the best compromise we could come up with.

What this table won’t tell you

Some of these brokers may not be regulated by the UK authorities. Please check directly with each broker, and read our guide to investor compensation schemes to understand why this matters. Some broker brands are owned by the same financial group. You do not diversify your risk by splitting assets across brands owned by the same group. Our investor compensation scheme guide (linked to above) explains how you can identify these brands.

We’ve not considered customer service and fringe benefits such as website user experience and research tools, which may be meaningful. Ask away here or at Money Saving Expert’s Savings & Investments board, the ex-Motley Foolers on the Lemon Fool board, or reddit for a broader opinion.

We haven’t accounted for exclusive, discounted funds. Most platforms stock much the same range but the bigger players in the market can negotiate slight fee discounts on certain funds. If you’re tempted by those ‘bargain’ offers then make very sure that your overall cost of investment isn’t more expensive once you load the platforms fees on top.

Please tell us about additions or corrections using the comment form below. Please supply a Web link to your data if possible in your comment to help us verify what should go into the table.

We’ll keep this table as up-to-date as possible, and conduct a sweeping review every three months.

  1. Our calculations assume one purchase per month and four sales per year, and that you take advantage of lower priced regular investment schemes when available. Portfolios consist of funds or ETFs or a 50:50 mix. []
  2. Out to another broker []
  3. You’ll pay another £25 if you later open a SIPP. []
  4. £43K vs Vanguard []
  5. £55K vs Vanguard []
  6. £43K vs Vanguard []
  7. £55K vs Vanguard []
  8. Also known as ii []
  9. £167.88 Funds Fan plan; £239.88 Super Investor plan []
  10. 2 free fund trades per month Funds Fan plan; 2 free UK trades per month Super Investor plan []
  11. £3.99 on Fund Fans or Super Investor plan []
  12. £3.99 on Super Investors plan []
  13. £39.95 for gilts []
  14. Out to another broker []
  15. Trades are at fixed times daily []
  16. 0.1% £250,001 – £1 million, 0.05% £1 million – £2 million, 0% over £2 million []
  17. 0.2% £250,000 – £1 million. Charges not tiered below £1 million. No fee for assets over £1 million. ETF and IT fees capped at £45 []
  18. ETF and IT fees capped at £45 []
  19. 0.2% £250,001 – £500,000, 0.15% £500,001 – £1 million, 0.05%£1 million – £2 million, 0% over £2 million. Tiered charge []
  20. Charge waived by 1 trade per month []
  21. £47K vs Vanguard []
  22. £47K vs Vanguard []
  23. Charge applies to each account separately []
  24. Charge applies to each account separately []
  25. £0 if SIPP worth £100K after tax free cash. []
  26. 0.25% £250,001 – £1 million, 0.1% £1 million – £2 million, 0% over £2 million. Charge applies to each account separately []
  27. 0.35% £50,001 – £250,000, 0.25% £250,001 – £500,000, 0% over £500,000 []
  28. Out to another broker []
  29. No funds. []
  30. Commission-free ETFs trade on European exchanges not LSE. Other restrictions apply []
  31. £5 max []
  32. or by £15,000+ assets in Smart Portfolio accounts []
  33. e.g. $10 fee – $6 trade = $4 actual fee that month. Waived on $100,000+ accounts []
  34. Reduced by value of trades. Inactivity fee is $3 for under 25s – again reduced by value of trades []
  35. up to £50,000 value. £6 + 0.05% of incremental trade value over £50,000. Max £29 []
{ 2423 comments… add one }
  • 2251 Linda November 3, 2018, 9:45 pm

    @MrOptimistic Never been charged fees on the cash. Fidelity used to pay a small amount of interest on the cash but wrote to me a couple of weeks ago to say that they would no longer be paying interest on it. I keep just enough in my account to pay the fees so that they don’t have to sell any of my investments to pay them. Do a google search for ‘Fidelity SIPP Key Features Document’. Pages 7 & 8 should clarify things. Also, I don’t have any ordinary funds in my SIPP, only an etf & an investment trust.

  • 2252 SnowMan November 6, 2018, 1:27 pm

    Interactive Investor are scrapping exit fees with immediate effect


  • 2253 Ivanopinion November 6, 2018, 1:41 pm

    Wow, that’s a bold move from II. Let’s hope it is a sign that they intend to make sure their service is so good that no-one wants to leave them.

  • 2254 TahiPanasDua November 10, 2018, 6:01 am

    I asked previously why HSBC InvestDirect was not included in the Monevator broker recommendation chart and was told that it was uncompetitive but without details.
    It seems to me that their costs are reasonable for a bank (crucially they allow joint accounts) though I believe their in-house etfs have an opaque extra fee.
    Any comments?

  • 2255 Jeff Beranek November 10, 2018, 12:03 pm

    My dad has an HSBC InvestDirect+ account, including a sharedealing account and an ISA. The main for using HSBC was so that he could qualify for HSBC Premier current accounts in both the US and UK, (for transferring US pension pensions automatically to the UK). However, it is also a fairly good low cost platform for holding UK shares and gilts. The platform and interface is very basic, but costs are just £10.50 quarterly for the sharedealing account (nothing extra for the ISA) and £10.50 per trade. Quarterly charges are taken from the non-ISA cash account. Trades are executed well and dividends paid quickly. Gilts cost an insane £39.95 per trade, so only good for very long term buy & hold. You can trade US shares, but he doesn’t do that because he has a US trading account (Charles Schwab) for that. It says you can trade “most” UK exchange-traded funds, but no OEIC/unit trust funds. I’m pretty sure you cannot trade ETCs (e.g. iShares Physical Gold). Like I said, we’re only really there because of access to a Premier account, but actually I would say it is competitive with other platforms if you are only trading shares and possibly for ETFs (but I don’t have personal experience of this).

  • 2256 Tyro November 21, 2018, 2:03 pm

    Just to add to the HSBC discussion: I use First Direct Sharedealing (FD is a subsidiary of HSBC) as one of my ISA platforms. On it I hold one IT and half-a-dozen or so ETFs (mostly Vanguard). As JB above says, it costs £42 p.a. (a flat fee) and £10.50 per trade. Since I only buy a couple of times a year it suits me. The website is basic and not very informative or helpful but if you know what you want it does the trick. Re the in-house EFTs, I hold one, and the principal problem is finding out about distributions. I have spent ages googling for ex-dividend and payment dates, without success, and even went so far as to phone HSBC Asset Management – who, bizarrely, claimed they couldn’t supply any information about their ETFs as they didn’t deal with investments and didn’t know which HSBC outfit I should contact. I was so stunned by this news I allowed them to say goodbye and hang up, without quizzing them further.

  • 2257 Jeffrey Beranek November 21, 2018, 2:28 pm

    Info on HSBC ETFs can be found here: https://www.etf.hsbc.com/etf/uk/retail

  • 2258 Tyro November 22, 2018, 1:28 pm

    @ Jeff Beranek

    Thanks for the link – I can’t remember whether or not this was one I looked at before. I’ve just had a quick shufti, and unless I’m missing something obvious (always possible) there is not a schedule or calendar of forthcoming dividends on that site either. The individual factsheets tell you the last ex-dividend date and the annual distribution, but its the prospective ex-dividend and payment dates and amount that I want. Come on HSBC, pull your finger out!

  • 2259 Jeff Beranek November 22, 2018, 1:56 pm

    @Tyro regarding detailed info on HSBC ETFs. Yes, I agree that a dividend schedule appears to be missing, but to be honest there are a lot of other ETF providers that are also lacking in this regard. I keep a spreadsheet of my investments which records the last dividend paid and the projected date of the next one (annual, bi-annual, quarterly) so that I can keep an eye out for them. It you are starting a new investment you can start with th It’s usually only off by a few days or so. The ex-div dates are irrelevant due to the natural price effect on that date. Unfortunately I don’t think dividend aggregator sites like DividendMax do not cover ETFs. However, you can search for your ETF on hl.co.uk to see when the last divi was paid and how often they are typically paid. This will not cover special dividends, but these pretty never occur for ETFs.

  • 2260 The Accumulator November 23, 2018, 7:11 pm

    I googled HSBC FTSE 100 ETF dividends and got a schedule of payments here:

  • 2261 Jeff Beranek November 23, 2018, 7:50 pm

    That’s brilliant! I use JustETF all the time but didn’t realise they provided dividend schedules (by the month, not the actual dates). Thanks.

  • 2262 Tyro November 24, 2018, 2:09 pm

    @ The Accumulator, @Jeff Beranek

    …. except that it looks as though that site is reporting historic, rather than prospective, dividends too.

  • 2263 Ric November 24, 2018, 4:54 pm

    When accessing ETF providers’ sites, to get all the basic information you need for selecting and tracking your ETF investments I find you need to pretend to be a professional. I guess they assume private investors are just too plain dumb to understand complex terms such as “dividend”. Clearly they’ve never met anyone who visits this site.
    For HSBC the link is here: http://www.etf.hsbc.com/etf/uk/professional
    Select your ETF then click the “Dividend information” tab to see the most recently declared dividend and and previous. Most of the other ETF providers give more historical information, but again only if you click to confirm that you are a professional.
    P.S. If their lawyers come asking, you did not hear this from me!

  • 2264 Tyro November 26, 2018, 4:03 pm

    Thanks Ric but it’s not the most recent and previous – i.e. historic – dividends I’m interested in (they’re available from a number of places). What I want is a schedule showing the forthcoming dividends. Vanguard puts out a schedule early-ish each year showing all the dividends to be paid on their ETFs for the rest of that year, and I can’t see why the other ETF providers don’t do the same. (Admittedly Vanguard don’t get my wholehearted approval because the schedule, which if memory serves they call a calendar, is not out as early in the New Year as one would expect, and also it is always difficult to find on their website. But it will, eventually, be there and be found.) Equities show the next dividend due, once it’s been declared, and even if HSBC did this that would be better than the current desert of information. As it stands, I have to infer from the fact that an HSBC ETF dividend was paid in a certain month last year that it will be paid in the same month this year, and then if it fails to arrive as expected, I have no way of knowing whether it was in fact due. Why should I have to be phoning a broker to ask whether they’ve neglected to pay a due dividend – or not?

  • 2265 Tyro November 26, 2018, 4:07 pm

    @Ric – ah – have just noticed you wrote ‘most recently declared dividend’ (I misread it as ‘most recent dividend’ ….) yes, that would be useful, thanks, though still not as useful as the schedule I am hankering for. Incidentally I’ve just remembered that iShares puts out a schedule as well as Vanguard. I repeat, pull your finger out, HSBC!

  • 2266 Ric November 26, 2018, 5:56 pm

    @Tyro, I agree totally. I find the lack of easy to access information one of the frustrating things with EFT investing. I did find a reference to intended future payment dates in section 13 of the “Notes to the Financial Statements” which can be found on page 458 of this document https://www.etf.hsbc.com/etf/attachments/uk/etf_june_interim_2018.pdf, that I found in the document section of their “professional” web site.

    The “easy access” of this information reminds me of the first episode of The Hitch-Hiker’s Guide to the Galaxy, when Arthur Dent is complaining about the plans to demolish his house being on public display in an unlit cellar with no stairs, in the bottom of a locked filing cabinet, stuck in a disused lavatory with a sign on the door saying “Beware of the Leopard”.

    And the information is still close to useless for your needs:
    “Dividends will ordinarily be paid twice annually in January/February and July/August. For the HSBC MSCI WORLD UCITS ETF, HSBC MSCI EM LATIN AMERICA UCITS ETF, HSBC FTSE 250 UCITS ETF, HSBC FTSE EPRA/NAREIT DEVELOPED UCITS ETF, HSBC MSCI EMERGING MARKETS UCITS ETF, HSBC ECONOMIC SCALE WORLDWIDE EQUITY UCITS ETF and HSBC MULTI FACTOR WORLDWIDE EQUITY UCITS ETF dividends will be paid quarterly in January/February, April/May, July/August and October/November.”

    I suspect this is as good as we’ll get.

  • 2267 PJ December 20, 2018, 8:17 pm

    In view of the recent insolvency situation at Beaufort, and the ongoing risk with any future broker insolvency, and the provisions of Rule 135 of the Special Administration Rules – does anybody know which Brokers/Platforms are willing to offer Sponsored Membership of Crest

  • 2268 Jeff Beranek December 20, 2018, 10:51 pm

    The fact you can’t hold a personal CREST account within an ISA or SIPP, for me, negates all the other advantages of having the shares held directly in your own name. I think Killik & Co and Redmayne Bentley offer them.

  • 2269 Adam December 21, 2018, 2:56 am

    Interactive Investor removed their exit fees last month https://media-prod.ii.co.uk/s3fs-public/pdfs/rates_and_charges_uk.pdf

  • 2270 PJ December 21, 2018, 1:34 pm

    Thanks Jeff,
    As I understand it, that is the correct situation with ISAs.
    However with SIPPs, apparently Crest personal membership is permissible if the SIPP provider permits it, or if the SIPP member is a co-trustee with the SIPP provider – in which case shares may be registered in the name of both trustees, under a personal Crest membership.

  • 2271 Jeff Beranek December 21, 2018, 1:59 pm

    Regarding personal Crest membership within a SIPP, yes, that’s my understanding also. However, I’m not aware of any “low-cost” SIPP providers that offer co-trustee status. I imagine this is only likely to be available through a “full SIPP”, such as one that allows you to hold commercial property with the SIPP. I know Sharesoc and others are fighting for personal Crest membership and better shareholder rights, but I don’t this changing any time soon. The low-cost providers don’t what the extra admin costs and the high-end providers are happy to charge an arm and leg for the “priviledge”.

  • 2272 Bill Horton January 11, 2019, 3:03 pm

    Bestinvest: Table states ‘No Drawdown Fee’.

    There is a £100/£90 [£100k pot after TFLS] initial calculation fee, plus an annual £1oo fee for income payments for pots <£100k. [+ VAT]
    These are in addition to the annual £100 SIPP administration fee and %age charges.

    Source: http://www.bestinvest.co.uk/media/1602/keyfacts-non-advised.pdf

  • 2273 Stephen January 25, 2019, 3:24 pm


    Have you seen the new broker, Freetrade? £0 trading (if executed end of day) otherwise dealing charge of £1; no platform/subscription fees (if you don’t mind not having an ISA).

    They are new and so still adding functionality but they cover UK stocks and recently started adding US stocks.

    Yes I am biased as i have been using them since September 2018 – but i just buy ETF’s monthly using their £0 end of day trade and so far so excellent.

  • 2274 The Accumulator February 2, 2019, 6:44 pm

    Table updated inc HSBC Invest Direct (ETFs etc – flat fee) and HSBC Global Investment Centre (funds – percentage fee). Weird division thing they’ve got going on. Thank you everyone for recent comments – I’ve been wrapped up in Monevator the book of late so thank you for tip-offs.

    @ Stephen – will investigate Freetrade. Looks like an exciting development and they have an ISA now. How are you finding the restricted range of ETFs?

  • 2275 Stephen February 3, 2019, 1:27 am

    Their range of ETF is certainly growing but for me as a new starter I decided to stick with just 3, FTSE100, UK Dividend and MSCI World, all iShares. I just want to add to them monthly and didn’t want to worry about cherry picking.

    I picked an awesome time to start, September 2018 just as markets started going down, at worst I think I was about 11% down but now I am about 2% down overall. I just keep pumping the money in regardless and because they have £0 fees all my cash is invested.

    I know I sound like an advert but that is because I always wanted a broker that I could justify slipping in £20 when I had some spare change and not see it eaten by fees, now I can and so I am an advocate.

  • 2276 Stephen February 3, 2019, 1:29 am

    Their range of ETF is certainly growing but for me as a new starter I decided to stick with just 3, FTSE100, UK Dividend and MSCI World, all iShares. I just want to add to them monthly and don’t want to worry about cherry picking.

    I picked an awesome time to start, September 2018 just as markets started going down, at worst I think I was about 11% down but now I am about 2% down overall. I just keep pumping the money in regardless and because they have £0 fees all my cash is invested.

    I know I sound like an advert but that is because I always wanted a broker that I could justify slipping in £20 when I had some spare change and not see it eaten by fees, now I can with Freetrade and so I am an advocate.

  • 2277 rodcorp February 5, 2019, 12:47 pm

    @stephen @the accumulator
    I’m also a big fan of Freetrade (and for disclosure: small investor in). End of day trades are free. ISA has just been added and I think will be charged at £3/month from April. No mutual funds I think but stocks and ETFs, so would qualify as “restricted range” in Monevator’s table – but they have a decent selection for passive fans: IWDG, VWRL etc. They’re now adding US stocks. The app is mobile only, which may freak some people out, but it is *much* easy to use than some of the cheap platforms Monevator-fans are using.

    When they add SIPP and ISA transfers, I will probably move things from iWeb and Interactive Investor.

  • 2278 Ric February 5, 2019, 1:30 pm

    Re Freetrade
    I followed the story last year about Beaufort Securities being taken into administration story with some interest. If you remember at the time it looked as if some investors would not get all their money back, even although funds were in a ring-fenced client account (see https://www.bbc.co.uk/news/business-43301342).
    I hope and trust Freetrade’s business model, charging structure and compliance are sustainable, but to be sure I’d suggest those using this platform keep below the £50K FSCS compensation limit (see https://www.fscs.org.uk/what-we-cover/).

  • 2279 Jeff Beranek February 5, 2019, 1:47 pm

    I agree that you need to take the platform’s business model into account when choosing who to go with. Are they going to make money by encouraging people to trade frequently, or cross sell other services, currency fees, annual fees, total asset fees, or what? I think both the established players and the newcomers are going to struggle if people just stick to trading shares or ETFs infrequently, as there’s virutally no money in it for them. Beaufort was definitely a shock and a problem that has not gone away…

  • 2280 rodcorp February 5, 2019, 3:12 pm

    Freetrade charge a commission fee for instant trades (though not end-of-the-day trades), foreign exchange commission fees, and will add ISA mgmt fees and a “premium” service soon. I don’t see them adding fees based on AUM, nor options, margin accounts etc. And I don’t know enough about the stockbroking industry to comment on sustainability, but maybe one of their staff will come by and comment.

  • 2281 CroydonBabyBoomer February 5, 2019, 3:56 pm

    I have a Trust account holding investments for my Grandchildren with Alliance Trust Savings. There are no distributions or need to register with HMRC and therefore I suppose little work.

    However the fees are 3x a personal account. Are there cheaper places to have a trust account? HL suggest the fees are the same as a personal account.

  • 2282 weenie February 5, 2019, 4:00 pm

    Been waiting for Freetrade to feature on Monevator to see how/where it would fit in the broker tables!

    While I still haven’t actually got my mitts on it yet (Android app not due until March), it looks promising, with the range of stocks and ETFs available continuing to grow.

    Aside from no trading fee, another selling point is the ability to buy US stocks in small quantities and at some point, even fractional bits of US stocks.

    Here’s the price list for info: https://freetrade.io/wp-content/uploads/2019/01/Pricing.pdf

  • 2283 The Investor February 5, 2019, 4:22 pm

    @all — We are watching developments at Freetrade, and my co-blogger @TA does have them on his radar. However the platform is very new, and innovative. We’re watching the space closely, and I hope to try the account for myself soon.

  • 2284 SBS February 5, 2019, 4:56 pm

    going back to the earlier discussion about where to find out about forthcoming ETF dividends … you can search for relevant RNS announcements, e.g. for vanguard ETFs, use this URL: https://www.investegate.co.uk/AdvancedSearch.aspx?qsArticleType=ann&qsSearchFor=S1&qsCategory=4&qsSpan=120&qsContains=vanguard+funds+plc

  • 2285 tony bage February 6, 2019, 1:55 am

    I am tempted to swear “OMG f*****h*ll”, has this site become a game of ‘guess who’? I, for one do indeed know which is also best for me, BUT why doesn’t this site simply put each into a league table? -there is only ONE winner ! (and that same winner would be 1st if you then created a premier league !) Maths is easy !

  • 2286 Jeff Beranek February 6, 2019, 7:00 pm

    If this table tells you anything, then there is no one platform that will be “the best” for everyone. They are targeting different clientele based on preferences regarding funds, ETFs, shares, trading frequency, customer service, foreign trading, exit fees, SIPP vs ISA charges, availablity of JISAs, Lifetime ISAs, Junior SIPP, eligibility of US citizens, app capability, reputation, drawdown fees, etc. Also, the market is in constant flux, the best platform a couple years ago may not still be the best. Is it worth switching? Possibly if you factor in the switch costs. It’s not just a matter of maths.

  • 2287 MrOptimistic February 6, 2019, 9:17 pm

    @Linda. Sorry just saw your post. I moved from a Fidelity SIPP for other reasons but I checked with them first. The 0.35% portfolio charge (SIPP) is on the total value including uninvested cash. I complained that this wasn’t quite up to their claims of transparency but….the key phrase is total portfolio value.

  • 2288 MrOptimistic February 6, 2019, 9:20 pm

    @Linda, sorry just noticed your post. Fidelity are not explicit about this, I had to ask. The 0.35% charge (SIPP) is on total portfolio value, including uninvested cash. I asked them about this.

  • 2289 Tom February 7, 2019, 2:58 am

    Are any SIPPs known with more than the £50k FSCS protection? I’m looking to move a fairly substantial aviva stakeholder pension to a new home (drawdown to start in 5-10yrs). Any thoughts?

  • 2290 Jeff Beranek February 7, 2019, 8:35 am

    Check out this article on the FSCS compensation limit on all investments: https://monevator.com/financial-services-compensation-scheme/

  • 2291 MrOptimistic February 8, 2019, 3:09 pm

    I believe Interactive Investors are taking o we Alliance Trust Savings so perhaps a note on this ( apologies if I missed it).
    What I have found, using Alliance, II, Halifax, HL and Fidelity, is the differences in what they offer by way of investment choices. Trouble is that this isn’t easy to judge as you can’t predict what you may want by way of a fund or ETF in the future. Alliance is a bit limited so I am hoping II broaden the range. HL seem the most expansive but are also expensive if you hold funds.

  • 2292 Mark February 13, 2019, 6:46 pm

    I’m thinking of transferring my S&S ISA to Vanguard as I only hold Lifestrategy funds in it anyway, and their annual platform % fee would save me a little each year from where its at now. Has anyone used them? Got any feedback on their customer service either good or bad?

    Thanks in advance.

  • 2293 Passive Pete February 14, 2019, 2:41 pm

    I’ve invested directly with Vanguard since 2015 and I transferred onto their online platform when it became available in 2017, and I have experienced excellent service without any errors. The online system has been available each time I needed it, the regular reports are issued on time and have been accurate and when I have telephoned them, they have been available without any lengthy wait. I’d rate them on a par with the service I receive from Hargreaves Lansdown.

  • 2294 John R February 19, 2019, 3:54 pm

    As iWeb offer Vanguard Lifestrategy funds in an ISA with no annual fee, are there any benefits of using the Vanguard Investor platform with 0.15% fee for a buy and hold investment?

  • 2295 Uxr February 19, 2019, 4:12 pm

    Iweb charges £5/transaction so depending on how often you buy, there’s a tradeoff.

    You can always use Vanguard ISA for purchases and then on a periodical basis, say yearly, transfer the holding to iWeb ISA. Easy to dona cost/benefit analysis.

  • 2296 Jeff Beranek February 19, 2019, 4:35 pm

    It is astonishing to me that iWeb does not charge a percentage fee to hold funds, just a small transaction charge. It seems a no-brainer to me if you can trade infrequently and buy and hold. Makes you wonder if the business model is sustainable or if all the other platforms are just ripping people off.

  • 2297 Markp February 20, 2019, 10:07 am

    A quick glance across the Atlantic strongly suggests it’s the latter (most other platforms ripping people off)

  • 2298 SpaceBadger99 February 27, 2019, 11:25 pm

    I’d be curious on your views about Trading212… they now provide zero commission Investments and ISA.
    Are they ‘disruptor’ or will we (those who took a punt) be charged fee’s/commission further down the road?

    They also offer a invitation scheme, that I would hope Monevator would be able to profit from, should it prove to be a viable company?

  • 2299 David March 12, 2019, 4:08 pm

    I’ve been read through a number of comparison reports on various sites and have yet to see any article mention SVS. I’ve been using them for a few years now and happy enough with their service (though admittedly I’ve no other experience to make a comparison). After what happened to Beaufort I’m worried that they’re not established enough and my assets might be at risk. Anyone have any views on them? Thanks

  • 2300 Aidan March 13, 2019, 12:57 pm

    @David I was using SVS Securities as a diversifier since 2012 but recently sold my last holding with them. I used to get sales calls from them as they make their money as an advisor service but I soon got myself off their phone list. They responded very promptly to requests for Consolidated Tax statements which for some reason they do not provide via their portal. I wouldn’t use them again because of the risks you mention of dealing with a largely unknown broker and I have other accounts elsewhere. Having said that, I had no problems at all with their service.

Leave a Comment