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Compare the UK’s cheapest online brokers

Last updated on 28 April 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 £25 per holding. £125 max Alternative to Lloyds, Selftrade
Trading £25 per holding. £125 max Alternative to Lloyds, Share Centre, Selftrade
SIPP £90 if SIPP worth less than £50K. £180 if SIPP more than £50K + £180 p.a. drawdown £60 per transfer. Max £300 £25 per holding (£215 max) +£90 Fund portfolios above £102K
iWeb £25 one-off account opening charge Does not apply to SIPP £5 £5 Large portfolios and infrequent traders, check vs ii, Lloyds, Share Centre, and Halifax
Shares ISA £25 per holding. £125 max The cheapest if you rarely trade
Trading £25 per holding. £125 max 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 £25 per holding (£215 max) +£90
Lloyds Bank Share Dealing £40 Only one £40 charge if you hold ISA and trading account £1.50 £11* £1.50 £25 per holding. £125 max
Shares ISA Fund portfolios over £26K3, unrestricted mixed ETF/fund portfolios4
Trading Fund portfolios over £26K5, unrestricted mixed ETF/fund portfolios6
SIPP n/a
Interactive Investor7    £119.88 Investor Plan8 1 free trade per month9 £7.9910 £7.9911 £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 £18 cash withdrawal
SIPP £118.80 No fee for first year. + £180 p.a. drawdown
HSBC Invest Direct £42 Charge per account n/a £10.5012 £15 per holding
Shares ISA
Trading  –
SIPP n/a
The Share Centre 1%. £7.50 min* 1%. £7.50 min* 0.5%. Min £1 £25 per holding Large trading accounts
Shares ISA £57.60
Trading £21.60 Alternative to Lloyds, Selftrade
SIPP £172.80 + £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:
Funds
Dealing: ETFs, ITs, & shares Regular investing Entry fee Exit fee13 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 £46-£56K but restricted range
Shares ISA Fund portfolios up to £43K, mixed ETF/fund up to £56K, ETF portfolios up to £47K
Trading Fund portfolios up to £43K, mixed ETF/fund up to £56K, 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 £10 £1.50
(Not charged on funds)
£0 Small fund portfolios
Shares ISA Fund portfolios below £26K
Trading Fund portfolios below £26K
SIPP Fund portfolios below £102K
AJ Bell Youinvest 0.25% on first £250,000 of funds14 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 + 0.25% charge (max £30) on ETFs, ITs, shares, and bonds
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 – £249,99915 Assets under £7500 = £45 p.a. or 0.35% with monthly savings plan16 £0 £0
Shares ISA ETF and IT fees capped at £45 £10 £1.50 (Not charged on funds)
Trading ETF and IT fees waived £10 £1.50 (Not charged on funds)
SIPP ETF and IT fees capped at £45 £0 drawdown 0.1% (ETFs / ITs) ETF portfolios – restricted range
Charles Stanley Direct 0.35% on first £250,000 of funds17 0.35% on shares, ETFs and ITs. Min £24 / Max £24018 £0 £11.50 £10 per holding
Shares ISA
Trading
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 ETF portfolios with unrestricted range
Shares ISA £15 per holding Unrestricted ETF portfolios19
Trading £4.99 quarterly account charge waived if you own ISA / SIPP £15 per holding Unrestricted ETF portfolios20
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
Trading
SIPP n/a
Close Brothers 0.25% on all investments £0 £8.95 £0 Small fund portfolios
Shares ISA
Trading
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  £150
Shares ISA 0.4% on first £250,00021 0.2% £250,001 – £1 million, 0% over £1 million
Trading 0.4% on first £250,00022 0.2% £250,001 – £1 million, 0% over £1 million
SIPP £120 p.a. + 0.3% on first £250,00023 0.2% £250,001 – £1 million, 0% over £1 million. £120 p.a. drawdown24
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
Trading
SIPP + £150 + £120 p.a. drawdown £90 per transfer capped at £450 + £90
Hargreaves Lansdown 0.45% on first £250,000 of funds25 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
Trading
SIPP + 0.45% (max £200) on ETFs, ITs, shares, and bonds £0 drawdown
Aviva 0.4% on first £50,000 of funds26 Tiered charge. You pay 0.4% on first £50K then 0.35% on next £200K etc £0 £0
Shares ISA
Trading
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:
Funds
Dealing: ETFs, ITs, & shares Regular investing Entry fee Exit fee27 Good for
Degiro  – Degiro may lend out your shares. A custody account avoids this but charges €1 + 3% (max 10%) for dividend payouts28 n/a Commission free ETF selection. €2 + 0.038% for other ETFs. £1.75 + 0.022% for shares29 €10 per holding €10 per holding No trading costs on select ETF range,30 frequent traders
Shares ISA n/a
Trading
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 The cheapest for ETF-only portfolios if you don’t mind restricted range or smartphone-only operation, and stick to £0 fixed time trades
Shares ISA £36
Trading
SIPP n/a
X-O.co.uk No funds n/a £5.95 £18 per holding
Shares ISA + £60 account closure
Trading
SIPP £118.80 No fee for first year. + £180 p.a. in drawdown + £60
IG Funds in SIPP only £0 £8*
Shares ISA £96 £24 waived quarterly by 3+ trades a quarter in shared dealing account31
Trading £96 Only 1 fee if you have ISA and trading account
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 trades32 $20 inactivity fee if equity balance below $2,00033 n/a £634 International shares / ETFs
Shares ISA
Trading
SIPP Fees vary

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. 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. £43K vs Vanguard []
  4. £56K vs Vanguard []
  5. £43K vs Vanguard []
  6. £56K vs Vanguard []
  7. Also known as ii []
  8. £167.88 Funds Fan plan; £239.88 Super Investor plan []
  9. 2 free fund trades per month Funds Fan plan; 2 free UK trades per month Super Investor plan []
  10. £3.99 on Fund Fans or Super Investor plan []
  11. £3.99 on Super Investors plan []
  12. £39.95 for gilts []
  13. Out to another broker []
  14. 0.1% £250,001 – £1 million, 0.05% £1 million – £2 million, 0% over £2 million []
  15. 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 []
  16. ETF and IT fees capped at £45 []
  17. 0.2% £250,001 – £500,000, 0.15% £500,001 – £1 million, 0.05%£1 million – £2 million, 0% over £2 million. Tiered charge []
  18. Charge waived by 1 trade per month []
  19. £46K vs Vanguard []
  20. £46K vs Vanguard []
  21. Charge applies to each account separately []
  22. Charge applies to each account separately []
  23. Charge applies to each account separately []
  24. £0 if SIPP worth £100K after tax free cash. []
  25. 0.25% £250,001 – £1 million, 0.1% £1 million – £2 million, 0% over £2 million. Charge applies to each account separately []
  26. 0.35% £50,001 – £250,000, 0.25% £250,001 – £500,000, 0% over £500,000 []
  27. Out to another broker []
  28. No funds. []
  29. £5 max []
  30. Note, these are ETFs traded on European exchanges not LSE. []
  31. or by £15,000+ assets in Smart Portfolio accounts []
  32. e.g. $10 fee – $6 trade = $4 actual fee that month. Waived on $100,000+ accounts []
  33. Inactivity fee is $3 for under 25s. []
  34. up to £50,000 value. £6 + 0.05% of incremental trade value over £50,000. Max £29 []
{ 2401 comments… add one }
  • 2301 Jo March 13, 2019, 9:24 pm

    I use Degiro for non ISA stocks as they are cheap and have a good choice of international stocks. I am considering an ISA with SAXO as they have access to a lot of international markets but are more expensive. Anyone had any experience with SAXO?

  • 2302 Vanguardfan March 15, 2019, 12:18 am

    What happened to the interactive comparison tool? Did I miss something?

  • 2303 The Investor March 15, 2019, 8:54 am

    @Vanguardfan — Unfortunately the provider, Broker Compare, has ceased operating. We tried to find an ongoing solution but it wasn’t viable for us in the end.

  • 2304 Ph8l March 17, 2019, 7:37 pm

    So am I right In understanding that a say £500k account isa with HL which only has shares would be capped at £45 a year fees total? Plus dealing charges of course.

    If you held that as funds it gets expensive but shares are dirt cheap to hold?

  • 2305 Jeff Beranek March 17, 2019, 7:52 pm

    @Ph8l, correct, although if you want somehere really cheap for holding shares, iWeb costs nothing per year (£25 to open account) and only £5 to trade.

  • 2306 phil March 17, 2019, 8:18 pm

    thanks jeff

  • 2307 Mrs Susan Jamieson March 17, 2019, 8:36 pm

    @ Ph81 – yes, very cheap. I hold only shares and investment trusts, plus the odd etf and pay £45 pa on well over £1m-worth of holdings.

  • 2308 Paul March 23, 2019, 5:44 pm

    Interactive Investor list a SIPP fee of £120 plus a ‘Quarterly Payment’ of £22.50 which can be used as credit against trading fees. So in practice this seems to be an overall platform fee of £210. Or have I misunderstood?

  • 2309 Adam March 24, 2019, 12:44 am

    @Paul You’re correct, thats why the SIPP fee is listed as “+ £120”, its in addition to the top level price of £90 which applies to the entire platform. There is only one £90 fee if you hold more than one account with them.

  • 2310 Gally March 24, 2019, 12:56 am

    I hold some Vanguard accumulation funds in a trust account for my Grandchildren. There will be no distributions or withdrawals for many years and the account does not need HMRC registration. I am being charged £400 pa by my current provider. Does anybody know of a cheaper one. Thanks

  • 2311 Jeff Beranek March 24, 2019, 1:36 am

    @Gally, it may depend on the terms of the trust so you may need legal advice, but assuming you are the trustee you may be able to move the account to a lower cost share dealing platform. I know AJ Bell do bare trust accounts for children, so I’m sure others will also. https://www.youinvest.co.uk/investing-for-children/dealing-accounts-for-children

  • 2312 Vanguardfan March 24, 2019, 8:35 am

    @gally, if as Jeff suggests this is a simple bare trust account (not a JISA?), have a look at Alliance Trust Savings first steps account. If you want to hold funds, AJBell won’t be much cheaper (who is your current provider?) If you held only ETFs, then AJBell and Hargreaves Lansdown would be cost effective. What sort of amounts are we talking about?
    Is there any reason why you’ve not used JISA accounts? (Have you checked out the recent Monevator article on investing for children?)

  • 2313 Gally March 24, 2019, 5:33 pm

    It is a discretionary Trust. I want the trustees to control distributions under the terms of the trust to Grandchildren. Other forms of trust are not appropriate.

    My account is with ATS who argue when increasing fees that there is more work to do. I would agree for an active and registered trust. This one is dormant and will be so for some time. I could switch from funds to ETF’s but the fixed costs I am looking to reduce are the account fees. There is about 80k in the account now considerably more on death. The trust is intended to help with my grandchildren’s life’s events, education, marriage, house children etc. after my death. So I am looking to reduce account fees and maintenance costs over many years.

  • 2314 vanguardfan March 24, 2019, 5:54 pm

    @gally thanks for the further info. I’ve never looked into providers re discretionary trusts, only bare trust accounts. I suspect not many do so and the charges will be less competitive. From the table above, a percentage based broker would charge between £200 (AJBell, 0.25%) and £360 (Hargreaves Lansdown, 0.45%) per year for an ordinary dealing account holding £80,000 in funds. I don’t know whether they would charge extra for a discretionary trust account or even if they would offer that service – logic would suggest there might be additional work involved which could justify higher charges. My hunch is that Hargreaves Lansdown is one of the more likely to do so, but the cost saving is not huge (and there will be fees to transfer out). Have you approached any other providers?
    btw I’m wondering why you don’t need to register the trust – is there no tax return needed? (I don’t know how discretionary trusts operate but I do know that the reinvested distributions in accumulation units are potentially taxable like dividend, if held in a taxable account).

  • 2315 Passive Pete March 24, 2019, 6:08 pm

    I’ve managed the investments of two discretionary trusts through Sharedeal / Jarvis for many years without incurring any ongoing fees, paying only the normal trading fees. All investments are in ETF’s as these can be traded on line through the usual platform. I understand that you need to telephone them to make investments in funds. Both trusts are registered with HMRC and pay tax twice each year, with tax returns submitted ever year.

  • 2316 Gally March 24, 2019, 6:11 pm

    unlike in the US where tax is charged on input to the trust and income received into the trust, in the UK tax is paid by the recipient when the trust makes distribution. Up until the time when this takes place there is no tax to pay, no registration required and no paperwork. There is a 6% tax on the trust gains every 10 years. My motive was to save IHT and to maintain control of trust distributions under the terms of trust deed.

  • 2317 throwaway97531 March 30, 2019, 6:17 pm

    Hi, I would like to open my first S&S ISA before the new (2019/20) tax year to secure the balance of my ISA allowance for the current (2018/19) tax year. I’ve already contributed to a HTB ISA this tax year. I will look to transfer previous Cash ISAs to this new S&S ISA as well and contribute my ISA allowance for the coming tax year (minus what I will be contributing to the HTB ISA). All in all this will just be shy of £100k. Because of this sum I understand I should look to flat fee brokers. Excuse my ignorance but I assume the share dealing broker table do not provide ISAs. If I interpret the tables above correctly then iWeb would be be the cheapest broker for me. Is that correct?

  • 2318 MJCROSS March 30, 2019, 6:49 pm

    Depends a little on how you plan to hold your investments – with some brokers it’s more expensive to hold funds than it is to hold ETF’s although many popular index investments are available as either. Some brokers perceived as ‘expensive’ (e.g. Hargreaves) are actually very reasonable if you restrict yourself to ETFs because they have a price cap. You really, really have to look at the pricing models to see what is best for you

  • 2319 Dave April 2, 2019, 5:53 pm

    I’m pretty sure it is not “+0.25%” for a YouInvest SIPP, it is simply 0.25%.

    So if you have £40k or more of ETFs you pay £100, no more.

    You can check this by filling info in here: https://www.youinvest.co.uk/charges-and-rates

  • 2320 Martin Quinlan April 3, 2019, 5:58 pm

    @Dave
    If you are referring to the comparison table I suspect you might be misreading it.

    You will pay 0.25% on the first £250,000 of funds irrespective of whatever non-funds you hold (pretty sure the Youinvest calculator bears that out!).

    Yes, in your example you’d only pay the “non-funds” £100 maximum, but that is only because the first part of the equation (the 0.25% on first £250,000 of funds) = £0 (i.e. £0 funds + £100 non-funds).

  • 2321 David Ingram April 8, 2019, 2:01 pm

    I have a niggling worry about a broker going under so plan to build up ISAs in multiple companies with the intention of keeping each holding under £75k.
    If I put money into all of IWeb, Halifax and Lloyd’s am I wasting my time?
    I read somewhere that Halifax and Lloyd’s have separate banking licenses.

  • 2322 Jeff Beranek April 8, 2019, 2:26 pm

    They all share the same £85,000 FSCS compensation limit: https://www.lloydsbank.com/investments/help-and-guidance/how-safe-are-my-investments.asp

  • 2323 Neil Anderson April 8, 2019, 6:19 pm

    Interactive Investor have just announced that instead of £22.50 per quarter, they are bringing in three service plans depending on how often you trade. Costs are now between £9.99 per month and £19.99 per month plus trading fees. For full details see
    https://www.ii.co.uk/service-plans/super-investor/all-plans

  • 2324 Adam April 8, 2019, 9:22 pm

    Interactive Investor increasing their prices: https://www.ii.co.uk/our-charges-1june2019

  • 2325 Alex April 10, 2019, 2:07 pm

    Unfortunately Interactive Investor is changing their charging structure from June 2019, the lowest price option will be £9.99 per month and trading credit will only last 90 days. At least they don’t charge you to leave as it looks like that’s probably what I’ll be doing now.

    https://www.ii.co.uk/service-plans/investor/all-plans?utm_source=IBMW&utm_medium=email&utm_campaign=ii_Investor%20Test%20Batch%203_100419&utm_content=&spMailingID=5666888&spUserID=MjA3MDYxMjA1OTM5S0&spJobID=1250799850&spReportId=MTI1MDc5OTg1MAS2

  • 2326 CisforV April 10, 2019, 6:09 pm

    The Interactive Investor price rise will effectively be a £30/year increase for someone like myself. Not too bad.

    That will be the £9.99/month plan, using the “free” £7.99 trading credit to make a few 99p regular investments each month and maybe an out of schedule sale or purchase with the 90 day trading credit roll-over.

    All depends how you use the account. They have quite a lot of flexibility. Plus they take fees from cash or bank accounts rather than selling holdings or directly from ISA contributions which is good.

  • 2327 DavidC April 12, 2019, 5:45 pm

    @David Graham
    Confusingly, IWeb Share Dealing, Halifax Share Dealing and Lloyds Bank Direct Investments (and Bank of Scotland Share Dealing) are all part of “Halifax Share Dealing Limited”, so all come under the same £85k (now, or soon) limit. Unlike retail banking, where Lloyds and HBOS (Halifax – Bank of Scotland) have separate banking licences. (And even after reading the T&Cs and websites, I’m not 100% sure whether the combined share-dealing operation comes under the overall Lloyds licence or the overall HBOS licence.) Worth reading this (but for £50k read £85k): https://monevator.com/investor-compensation-scheme/ (and take note of the Vanguard stuff).
    Personally, I don’t want all my eggs in _one_ basket, but I don’t feel the need for multiple £85k baskets. I’m more worried about website screw-ups making my funds temporarily inaccessible than a complete platform meltdown leaving me to fall back on FSCS compensation.

  • 2328 Eelis Vatanen April 12, 2019, 8:43 pm

    Damn you guys have a gazillion different brokers over there!
    I use Lynx, which is a more approachable flavor of Interactive Brokers. Cheapest one there is, for me at least.

  • 2329 Haphazard April 13, 2019, 10:57 am

    Does anyone have any experience of Alliance Trust Savings? They now appear to be on of the main competitors to iWeb/Halifax/Lloyds for fixed fee brokers. But there are certainly a few reports online suggesting there may be some problems.

  • 2330 DianaW April 13, 2019, 11:16 am

    No experience of ATS, personally. But weren’t they swallowed up by Interactive Investor last autumn?

    Which links to the previous comment: the UK only seems to have lots of different brokers. In practice, groups of them have become part of the same financial empires, so are no longer separate at all; sooner or later, the acquired broker’s pricing practices tend to be brought into line with the acquirer’s.

  • 2331 chris smallman April 14, 2019, 11:05 pm

    Is standard life self invest any good for isa savings ?

  • 2332 Paul April 15, 2019, 9:43 am

    I just checked the Standard Life self investor web site, and this page https://www.standardlifeselfinvestor.co.uk/invest/about-self-investor.page says “We’re no longer accepting new applications for Standard Life Self Investor. If you’d like to open an investment account you can do so with Standard Life.”

  • 2333 John M April 15, 2019, 10:24 am

    Just a heads-up, Interactive Investor are changing their fee structure from 1st June. The cheapest plan will now be £9.99 per month (up from £22.50/quarter).

    https://www.ii.co.uk/service-plans/investor/all-plans

  • 2334 Jeff Beranek April 15, 2019, 10:42 am

    I had a quick look at the Standard Life DIY ISA investment platform and charges are 0.35% of assets up to £200,000 and 0.20% on everything above. It only appears to allow investment in open-ended fund (OEICs/unit trusts), not ETFs or shares. It appears that Vanguard funds are available, including LifeStrategy. SIPP charges are way more complicated, but definitely do NOT look competitive to others on the broker comparison table. Besides, I think I’ll hold a lifetime grudge against Standard Life because they used to be one of my company pension providers, with opaque fees and mountains of useless paperwork in the post that told me nothing about what I actually wanted to know!!

  • 2335 Steve April 17, 2019, 10:55 am

    Interactive investor have put the charges up recently. And changed the pricing structure a little bit.

  • 2336 Michael Stefaniuk April 19, 2019, 10:22 pm

    Does anyone have any opinion on dealing with Trading 212 UK?

  • 2337 Player1 April 20, 2019, 5:58 pm

    never used Trading 212 seems more of a CFD Broker,i have used FreeTrade which is ok as well as HL and AJ BELL

  • 2338 Adam April 20, 2019, 6:10 pm

    Trading212 are primarily CFD but also do standard equities https://www.trading212.com/en/Free-Stock-Trading

  • 2339 Jeff Beranek April 21, 2019, 9:46 am

    Check out the FT article “Free trading apps — investment freedom or false economy?” which is linked to in the latest Monevator newsletter: https://bit.ly/2Usz7EY

  • 2340 Neverland April 23, 2019, 10:03 am

    @Haphazard

    Alliance Trust Savings has indeed been bought by Interactive Investor subject to regulatory clearance so within a year the whole platform will be subsumed within III. III doesn’t have a great reputation for customer service and is owned by a private equity fund who ex-MD committed fraud which went undetected for several years and was banned for life from working in finance: https://www.traverssmith.com/media/598484/record_fsa_fine_for_exceos_fraud.pdf

    Caveat emptor

  • 2341 Adam April 23, 2019, 11:15 am

    @Neverland Whilst an interesting fact, I don’t see how their PE fund’s management 7 years ago has anything to do with their operation today? PE companies don’t have access or control to that level of companies they own.

    In my limited experience of II’s support they’ve been fine. Although their platform does have irritating missing basic features – like being unable to send notification of dividends received and rounding on their export so its inconsistent with reality.

  • 2342 Steven-John April 23, 2019, 6:52 pm

    Hi, With Interactive Investor increasing their fees, is Interactive Brokers now a better choice? I recently became non-tax resident from UK and can’t pay into my ISA any more. I believe I can still open an interactive account. If you pay in every month, it will cost only $10 as apposed to £9.99

    Thanks

  • 2343 InvestorUK April 28, 2019, 12:54 pm

    Is there a reason you’ve missed Freetrade broker? They’re my first experience with buying individual stocks as other brokers were all cost prohibitive. They have fee-free trading, I haven’t paid any commission. I use Vanguard for index funds, but I don’t believe there is a better offer for individual funds.

    Freetrade pricing here: https://freetrade.io/pricing

  • 2344 The Accumulator April 28, 2019, 5:57 pm

    Table updated today with Freetrade and a few other changes. Did you mean Vanguard ETFs btw? Freetrade don’t offer funds. Anyway, my thanks to everyone posting updates to this thread. @ Jeff B and DavidC, really good point about the Lloyds Group hegemony. I’ve tried to make this point more explicit in a number of places as Halifax/BOS, Lloyds and iWeb are dominating the flat rate brokers table now. I’ve dropped Alliance Trust as it seems like a matter of time before they’re absorbed by Interactive Investor – thank you Neverland for pitching in on this. Interestingly, a flat rate broker no longer seems like a must-have for a large ETF portfolio in a SIPP now that Interactive Investor have jacked their prices up. I know a lot of people here have been happy to stay with Youinvest, Fidelity or HL thanks to their ETF caps for a while now.

  • 2345 InvestorUK April 28, 2019, 8:05 pm

    Yes, sorry I meant Vanguard funds.

  • 2346 Chimpo April 30, 2019, 1:29 pm

    I wonder if the other brokers will beef up their transfer offers to tempt away Interactive Investor customers.

  • 2347 Robert Matthews April 30, 2019, 1:38 pm

    Thanks for your sterling efforts on this, as ever. One thing you might want to either do (or, perhaps better for your sanity, get the readership to do) is review the useability of the above platforms. I suspect a lot of people stay with HL and its eye-watering costs because it has a fantastic interface, allowing all sorts of analysis and ease of trading (eg, saying what you want to sell AND what you want to buy with the proceeds in one go, rather than go through the rigmarole of selling, waiting for the dosh to appear in your cash account days later, then buying your new assets).
    On the other hand, the Charles Stanley Direct interface is utterly awful. Simply telling how well you’re doing is hard, because of the hopeless and largely unchangeable tabular presentation of quantities related to the asset. It demands that you sell in share units, but buy in cash amounts, and the portfolio analysis features are laughable. I’ve a legacy account with them with a few bob in which I rarely touch. But as soon as I can be arsed, I shall sell the lot and bung it to AJBell – which are really pretty good.

  • 2348 Osprey April 30, 2019, 4:51 pm

    @Robert Matthews: That is a fair comment, but difficult to compare between platforms.
    HL provide comparison tools, but (afaik) it is difficult to compare funds, ITs, ETFs etc on the same chart, and over longer than 5 years. So I use Trustnet. I don’t like Fidelity’s interface, but they do provide excellent reports on e.g. capital gains realised allowing for income on ACC funds, etc.

  • 2349 Frank May 1, 2019, 8:45 am

    Does anybody know of a reasonably priced broker or platform who will accept accounts for:
    1) Non UK resident SIPP trading account/trustee trading account (Isle of Man QROPS SIPP)
    2) Non UK resident company account (Isle of Man registered Investment company).
    Most if not all of the brokers on the Broker Comparison List are not willing to open such accounts.

    Many thanks

  • 2350 Sparschwein May 2, 2019, 12:53 am

    Nice work compiling all this info.
    The iWeb ISA seems really cheap, but they list “Foreign currency charges (international trades only) – 1.5% of exchange rate”‘
    So you can get international funds and shares but get fleeced through the fx rate?
    Has anyone looked into this with other ISA platforms?

    So far I’m using Vanguard’s ISA, no complaints but fund choice. All I really need is access to Vanguard US and keep the cost down.

    Thanks

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