Advertiser Disclosure
This page contains affiliate links. When you sign up through our links, we may earn a commission at no extra cost to you. This helps support our free comparison tools.
We compare investment platforms and savings accounts from multiple providers. Capital at risk. The information shown is accurate at time of display but may change.
Compare UK Investment Platform ISA Fees
Find the cheapest platform for your ISA. Scrimpr compares annual platform fees and trading costs across all major UK providers of self-directed Stocks & Shares investing ISAs. Updated regularly.
Capital at risk. Investments can go down as well as up. Tax treatment depends on individual circumstances.
Capital at risk. T&Cs apply.
Search
Platform Fee
Trading Fees
Updated:
| Platform | Platform Fee | Investments | Trading Fees | Actions |
|---|---|---|---|---|
| Scrimpr Spotlight | ||||
IG
IG Trading & Investments
Bonus: Get up to £1000 in free US shares when you invest £200+
|
Portfolio Size:
£20k: Free
£85k: Free
Type: Zero-Fee
£0 annual platform fee
|
✓ ETFs
✓ Shares
✗ Funds
✗ Regular
|
ETFs: £0
Shares: N/A
Funds: £0
Regular: -
FX: 0.70%
|
Visit Site
→
Capital at risk. Other fees may apply.
More info
|
|
Portfolio Size:
£20k: Free
£85k: Free
Type: Zero-Fee
£0 annual platform fee
|
✓ ETFs
✓ Shares
✗ Funds
✗ Regular
|
ETFs: £0
Shares: £0
Funds: N/A
Regular: -
FX: 0.35%
|
Visit Site
→
Capital at risk. Other fees may apply.
More info
|
|
Portfolio Size:
£20k: Free
£85k: Free
Type: Zero-Fee
£0 annual platform fee
|
✓ ETFs
✓ Shares
✓ Funds
✓ Regular
|
ETFs: £0
Shares: £0
Funds: £0
Regular: -
FX: 0.99%
|
-
More info
|
|
Portfolio Size:
£20k: Free
£85k: Free
Type: Zero-Fee
£0 annual platform fee
|
✓ ETFs
✗ Shares
✗ Funds
✓ Regular
|
ETFs: £0
Shares: N/A
Funds: -
Regular: -
|
-
More info
|
|
Portfolio Size:
£20k: Free
£85k: Free
Type: Zero-Fee
£0 annual platform fee
|
✓ ETFs
✗ Shares
✓ Funds
✗ Regular
|
ETFs: £0
Shares: N/A
Funds: £0
Regular: -
|
-
More info
|
|
Portfolio Size:
£20k: Free
£85k: Free
Type: Zero-Fee
£0 annual platform fee
|
✓ ETFs
✓ Shares
✓ Funds
✗ Regular
|
ETFs: £5 UK | £0 international
Shares: £5 UK | £0 international
Traditional Funds: £5
£0 for regular investing
FX: 1.50%
|
-
More info
|
|
Portfolio Size:
£20k: Free
£85k: Free
Type: Zero-Fee
£0 annual platform fee
|
✓ ETFs
✓ Shares
✗ Funds
✗ Regular
|
ETFs: £0
Shares: £0
Funds: N/A
Regular: -
FX: 0.15%
|
-
More info
|
|
Portfolio Size:
£20k: Free
£85k: Free
Type: Zero-Fee
£0 annual platform fee
|
✓ ETFs
✓ Shares
✗ Funds
✗ Regular
|
ETFs: £0
Shares: £0
Funds: N/A
Regular: -
FX: 0.50%
|
Visit Site
→
Capital at risk. Other fees may apply.
More info
|
|
Portfolio Size:
£20k: £30
£85k: £128
Type: Hybrid-Fee
Hybrid fee
|
✓ ETFs
✓ Shares
✓ Funds
✓ Regular
|
ETFs: £0
Shares: £0
Funds: £0
Regular: -
FX: 0.75%
|
-
More info
|
|
Portfolio Size:
£20k: £45
£85k: £45
Type: Hybrid-Fee
Hybrid fee
|
✓ ETFs
✓ Shares
✓ Funds
✓ Regular
|
ETFs: £3.95
Shares: £3.95
Funds: £3.95
Regular: -
FX: 0.70%
|
Visit Site
→
Capital at risk. Other fees may apply.
More info
|
|
Portfolio Size:
£20k: £48
£85k: £128
Type: Hybrid-Fee
Hybrid fee
|
✓ ETFs
✓ Shares
✓ Funds
✓ Regular
|
ETFs: £0
Shares: £0
Funds: £0
Regular: -
|
-
More info
|
|
Portfolio Size:
£20k: £50
£85k: £65
Type: Hybrid-Fee
Hybrid fee
|
✓ ETFs
✗ Shares
✓ Funds
✗ Regular
|
ETFs: £0
Shares: £0
Funds: N/A
Regular: -
|
Visit Site
→
Capital at risk. Other fees may apply.
More info
|
|
Portfolio Size:
£20k: £60
£85k: £255
Type: Hybrid-Fee
Hybrid fee
|
✓ ETFs
✓ Shares
✓ Funds
✓ Regular
|
ETFs: £10
Shares: £10
Funds: £4
Regular: -
FX: 1%
|
-
More info
|
|
Portfolio Size:
£20k: £74
£85k: £237
Type: Hybrid-Fee
Hybrid fee
|
✓ ETFs
✗ Shares
✗ Funds
✓ Regular
|
ETFs: £0
Shares: N/A
Funds: N/A
Regular: -
FX: 0.40%
|
-
More info
|
|
Portfolio Size:
£20k: £102
£85k: £395
Type: Hybrid-Fee
Hybrid fee
|
✓ ETFs
✓ Shares
✓ Funds
✓ Regular
|
ETFs: £0
Shares: £0
Funds: £0
Regular: -
FX: 0.45%
|
-
More info
|
|
Portfolio Size:
£20k: £126
£85k: £418
Type: Hybrid-Fee
Hybrid fee
|
✗ ETFs
✗ Shares
✓ Funds
✓ Regular
|
ETFs: N/A
Shares: N/A
Funds: £0
Regular: -
FX: 0.45%
|
-
More info
|
|
Portfolio Size:
£20k: £50
£85k: £213
Type: Percentage-Fee
Platform fee based off of perc
|
✓ ETFs
✓ Shares
✓ Funds
✓ Regular
|
ETFs: £5
Shares: -
Funds: £1.50
Regular: £1.50
FX: 0.75%
|
-
More info
|
|
Portfolio Size:
£20k: £50
£85k: £213
Type: Percentage-Fee
Platform fee based off of perc
|
✓ ETFs
✓ Shares
✓ Funds
✓ Regular
|
ETFs: £6
Shares: £6
Funds: £0
Regular: -
FX: 1%
|
-
More info
|
HSBC Global Investment Center
HSBC Asset Management
Existing HSBC customers wanting funds only
|
Portfolio Size:
£20k: £50
£85k: £213
Type: Percentage-Fee
Platform fee based off of perc
|
✗ ETFs
✗ Shares
✓ Funds
✓ Regular
|
ETFs: N/A
Shares: N/A
Funds: £0
Regular: -
|
-
More info
|
Trinity Bridge
Close Asset Management Ltd
Experienced investors wanting wide choice with family fee linking
|
Portfolio Size:
£20k: £50
£85k: £213
Type: Percentage-Fee
Platform fee based off of perc
|
✓ ETFs
✓ Shares
✓ Funds
✓ Regular
|
ETFs: £8.95
Shares: £8.95
Funds: £0
Regular: -
FX: Not disclosed
|
-
More info
|
|
Portfolio Size:
£20k: £70
£85k: £298
Type: Percentage-Fee
Platform fee based off of perc
|
✓ ETFs
✓ Shares
✓ Funds
✓ Regular
|
ETFs: £4.99
Shares: £4.99
Funds: £0
Regular: -
|
-
More info
|
|
Portfolio Size:
£20k: £70
£85k: £170
Type: Percentage-Fee
Platform fee based off of perc
|
✗ ETFs
✗ Shares
✓ Funds
✓ Regular
|
ETFs: N/A
Shares: N/A
Funds: £0
Regular: -
|
-
More info
|
|
Portfolio Size:
£20k: £80
£85k: £340
Type: Percentage-Fee
Platform fee based off of perc
|
✓ ETFs
✓ Shares
✓ Funds
✓ Regular
|
ETFs: £4.95
Shares: £4.95
Funds: £0
Regular: -
FX: 0.95%
|
-
More info
|
|
Portfolio Size:
£20k: £90
£85k: £298
Type: Percentage-Fee
Platform fee based off of perc
|
✓ ETFs
✓ Shares
✓ Funds
✓ Regular
|
ETFs: £7.50
Shares: £7.50
Funds: £0
Regular: £1.50
FX: 0.75%
|
-
More info
|
|
Portfolio Size:
£20k: £90
£85k: £383
Type: Percentage-Fee
Platform fee based off of perc
|
✓ ETFs
✓ Shares
✓ Funds
✓ Regular
|
ETFs: £11.95
Shares: £11.95
Funds: £0
Regular: -
FX: 1%
|
Visit Site
→
Capital at risk. Other fees may apply.
More info
|
|
Portfolio Size:
£20k: £150
£85k: £510
Type: Percentage-Fee
Platform fee based off of perc
|
✓ ETFs
✓ Shares
✓ Funds
✗ Regular
|
ETFs: £3.95
Shares: £3.95
Funds: £3.95
Regular: -
FX: 0.70%
|
Visit Site
→
Capital at risk. Other fees may apply. *Bonus applies to eToro investment account.
More info
|
|
Portfolio Size:
£20k: £36
£85k: £36
Type: Fixed-Fee
Fixed fee
|
✓ ETFs
✓ Shares
✓ Funds
✓ Regular
|
ETFs: £9.50 UK | £0 international
Shares: £9.50 UK | £0 international
Traditional Funds: £9.50
£0 for regular investment plan
FX: 1.25%
|
-
More info
|
|
Portfolio Size:
£20k: £36
£85k: £36
Type: Fixed-Fee
Fixed Platform Fee (waivable)
|
✓ ETFs
✓ Shares
✓ Funds
✗ Regular
|
UK/EU Shares - £3 (or 0.05% if >£6k)
US Shares - $0.005/share
Traditional Funds - £4.95
FX: 0.03%
|
-
More info
|
|
Portfolio Size:
£20k: £36
£85k: £36
Type: Fixed-Fee
Fixed fee
|
✓ ETFs
✓ Shares
✓ Funds
✓ Regular
|
ETFs: £9.50UK | £0 international
Shares: £9.50 UK | £0 international
Traditional Funds - £1.50
£0 for regular investment plan
FX: 1%
|
-
More info
|
|
|
Portfolio Size:
£20k: £42
£85k: £42
Type: Fixed-Fee
Fixed fee
|
✓ ETFs
✓ Shares
✗ Funds
✗ Regular
|
ETFs: £10.50
Shares: £10.50
Funds: N/A
Regular: -
FX: Not disclosed
|
-
More info
|
Interactive Investor
Interactive Investor Services
Investors wanting flat-rate fees with bundled ISA + SIPP + Trading Account
|
Portfolio Size:
£20k: £72
£85k: £180
Type: Fixed-Fee
Fixed fee
|
✓ ETFs
✓ Shares
✓ Funds
✓ Regular
|
Core/Plus: UK/US £3.99
Premium: £2.99 | International: Core £9.99
Plus £7.99
Premium £5.99 | Funds: Core £3.99
Plus £1.49
Premium Free | Regular investing: Free
FX: Core: 0.75%, Plus: 0
|
-
More info
|
|
Portfolio Size:
£20k: £84
£85k: £84
Type: Fixed-Fee
Fixed fee
|
✓ ETFs
✓ Shares
✓ Funds
✗ Regular
|
ETFs: £0
Shares: £0
Funds: £0
Regular: -
FX: 0.50%
|
-
More info
|
UK Stocks and Shares ISA (Investing ISA) Platform Comparison
I built this comprehensive comparison of UK investment platforms while figuring out where to invest my own money. The table above compares do-it-yourself ISA providers all in one place – it's all the research I did to understand the fees and features for different investment goals. Nothing here is financial advice, and you should consider your own circumstances or speak to a qualified adviser before investing.
Stocks & Shares ISA Rules
ISAs aren't complicated, but there are a few rules worth knowing before you open one. I've summarised the main ones below.
£20,000 annual allowance
You can put up to £20,000 into ISAs each tax year – and this resets every April. There's no limit on how much you can build up over time, just how much you can add each year. The allowance is shared across all ISA types, so if you put £5,000 into a Cash ISA, you've got £15,000 left for a Stocks & Shares ISA.
From April 2027, the Cash ISA allowance drops to £12,000 for under-65s – but the Stocks & Shares ISA allowance stays at £20,000. Source: HMRC
Tax year deadline
The tax year runs from 6th April to 5th April. Any unused allowance doesn't roll over – if you don't use it, you lose it. There's usually a rush in late March.
Multiple providers allowed
Since April 2024, you can pay into multiple Stocks & Shares ISAs in the same tax year – handy if you want to spread across different platforms. Just don't exceed the £20,000 total across all your ISAs.
Tax-free forever
Any gains, dividends, or interest you earn inside an ISA are tax-free – and they stay tax-free for as long as the money remains in the ISA wrapper. There's no limit on how much your ISA can grow to.
Age requirement
You need to be 18 or over to open a Stocks & Shares ISA (16 for Cash ISAs). You also need to be a UK resident for tax purposes.
What Can You Hold in a Stocks & Shares ISA?
The name is a bit misleading – you're not limited to individual shares. Most people I know use their ISA for funds and ETFs rather than picking individual stocks.
Index funds & ETFs – The r/UKPersonalFinance favourite. A single fund that tracks hundreds or thousands of companies. Low fees, instant diversification, minimal effort. This is what I use for most of my ISA.
Investment trusts – Similar to funds but structured as companies listed on the stock exchange. Some have been around for over 100 years. Scottish Mortgage is probably the most famous one.
Individual shares – Buy shares in individual companies, UK-listed or international. Higher risk than funds since you're not diversified, but some people like picking their own stocks.
Bonds & gilts – Government and corporate bonds, either directly or through bond funds. Generally lower risk and lower return than shares.
Flexible vs Standard ISA
Some platforms offer flexible ISAs, which let you withdraw and redeposit in the same tax year without losing any of your allowance. It is worth checking before you open an account.
| Standard ISA | Flexible ISA | |
|---|---|---|
| Withdraw and re-deposit | No – lose that allowance permanently | Yes – can re-deposit in same tax year |
| Example | Withdraw £5k → only £15k allowance left | Withdraw £5k → put it back, keep full £20k |
| Best for | Buy-and-hold investors | Anyone who might need temporary access |
ISA Transfers
Stuck with an expensive platform? You can move your ISA to a new provider without losing the tax benefits. I've done this a couple of times – it's not as painful as you might think.
Open an account with the new provider
Most will ask if you want to transfer an existing ISA during signup.
Fill in a transfer form
The new provider handles the paperwork with your old one. You don't need to contact your old provider.
Wait
Transfers typically take 2-4 weeks for cash, or 4-8 weeks if transferring as stock. Some platforms are faster than others.
In-specie transfer (as stock) – Your investments move across without being sold. No time out of the market, but takes longer and the new platform needs to support the same funds.
Cash transfer – Your investments are sold, cash is transferred, then you reinvest. Faster, but you're out of the market during the transfer.
Important: Always use the official transfer process. If you withdraw the money yourself and put it into a new ISA, it counts against your annual allowance and you'll lose the tax-free status on any amount over £20,000.
Portfolio Size & Platform Considerations
Platform fees work differently depending on how much you're investing.
Under £20,000
Percentage-based platform fees are low at this level – 0.25% on £10,000 is just £25/year. But trading fees hit harder: a £5 dealing charge on a £100 investment is 5% gone before you start. Zero-fee platforms like Trading 212, Freetrade, and InvestEngine charge neither, though they typically offer fewer investment options or more basic customer service.
£20,000–£100,000
Percentage-based platform fees start to add up. A 0.25% fee on £50,000 is £125/year. Fixed-fee platforms charging £5-10/month start to look more competitive. FSCS protection covers up to £85,000 per provider.
£100,000+
Fixed-fee platforms are typically cheaper than percentage-based ones at this level. A flat £12/month beats 0.25% (which would be £250/year on £100k). Some people split across multiple providers to stay within FSCS limits.
A common approach
Some investors make regular contributions on a platform with no trading fees (like InvestEngine or Trading 212), then transfer to a cheap fixed-fee provider like Scottish Widows, Lloyds, or Halifax once the balance is large enough. You get free trades while building up, then minimal platform fees for long-term holding. ISA transfers keep the tax-free status intact.
How Zero-Fee Platforms Make Money
If you're not paying platform fees, how do these companies stay in business? Zero-fee platforms typically generate revenue through:
Interest on uninvested cash – Any cash sitting in your account earns interest for the platform. Some platforms now share this interest with customers, but many keep it.
Foreign exchange fees – When you buy investments priced in dollars or euros, the platform converts your pounds and takes a cut (typically 0.15% to 1.5%). This adds up if you're buying US shares or non-GBP denominated ETFs.
Wider spreads – The difference between buy and sell prices may be slightly wider than on platforms charging explicit fees.
Securities lending – Some platforms lend out your shares to other market participants and keep the fee.
Premium subscriptions – Free tier gets you in the door, then they upsell paid features like SIPPs, instant deposits, or better FX rates.
None of this necessarily makes zero-fee platforms a bad choice – the total cost may still be lower than paying explicit fees, especially for smaller portfolios. But it's worth understanding that you're paying somehow, even if the bill isn't itemised.
Is My Money Safe? FSCS Protection Explained
The Financial Services Compensation Scheme (FSCS) is the UK's statutory compensation scheme for customers of authorised financial services firms. But investment protection is more complicated than the straightforward coverage you might know from bank accounts.
The basics
FSCS investment protection covers up to £85,000 per person, per firm. This hasn't changed – though cash deposits in banks increased to £120,000 from December 2025, the investment limit remains at £85,000.
This is separate from cash deposit protection – you could claim both if the same financial group failed across both categories.
For FSCS to protect you, the firm must be authorised by the Financial Conduct Authority (FCA) or Prudential Regulation Authority (PRA), and the specific activity they're carrying out must be regulated.
What FSCS covers
According to the FSCS website, they may be able to protect you if:
- A provider goes out of business and there's a shortfall in the money or assets it's holding for you
- You received bad advice from a regulated adviser that caused you to lose money
FSCS does not cover losses from poor investment performance – that's market risk, not something the scheme protects against.
Protection varies by investment type
The FSCS investment protection checker shows that coverage depends on what you're invested in:
Possibly protected: OEICs, Unit Trusts, Shares, Bonds, ETFs/Tracker Funds – but protection depends on the specific circumstances and whether the firm was carrying out a regulated activity.
Not protected: Cryptocurrency, P2P lending (the platform itself), E-money, NFTs.
The FSCS advises: "Ask your firm to confirm that the activity they are carrying out for you is a regulated activity and FSCS protected."
Ring-fencing: your first line of defence
FCA-regulated platforms must follow rules called CASS (Client Assets Sourcebook) that require them to keep your money and investments separate from their own. This is called "ring-fencing" or "segregation".
If a platform goes bust, your investments should still be there – held separately and waiting to be transferred to a new provider. FSCS is the backstop if something goes wrong with this ring-fencing (fraud, poor record-keeping, etc.).
Brands that share the same protection limit
The £85,000 limit applies per firm, not per brand name. Some platforms operate under the same authorisation – check the FCA Register to see if your providers are part of the same group.
What to check
The FSCS recommends three steps:
- Check your provider is authorised by the FCA or PRA on the Financial Services Register
- Be aware that the specific activity must be regulated for FSCS protection to apply
- Ask your firm to confirm their FSCS protection status and what's covered
For more information, visit fscs.org.uk/what-we-cover/investments or use their investment protection checker.
The Platform Fee Hack
If you're making regular monthly contributions, trading fees add up fast – £5 per trade is £60/year if you're investing monthly. But percentage-based platform fees add up on larger balances – 0.15% on £100k is £150/year.
Some investors get the best of both worlds:
How it works
Build on a percentage-fee platform – Use somewhere like Vanguard (0.15% platform fee, free trades) or Dodl (0.15%, free trades) for your regular monthly contributions. The percentage fee is tiny on a small balance, and you're not paying £5 every time you invest.
Transfer to a fixed-fee platform for storage – Once the tax year ends, transfer your ISA to Scottish Widows, Lloyds, or Halifax (zero platform fee, £5/trade). You're not trading there, just holding – so you pay nothing.
Repeat each year – Open a fresh ISA at Vanguard/Dodl in April, keep contributing monthly, transfer last year's ISA to your holding platform.
Monevator have written the definitive guide on this: The cheapest stocks and shares ISA hack
Does this apply to Trading 212 or InvestEngine? No – they charge zero platform fees AND zero trading fees, so there's nothing to optimise. Which raises the obvious question: why doesn't everyone just use these?
Common concerns include: platform stability (they're newer than established providers), more limited investment choice, how they actually make money (wider spreads, FX fees, interest on cash), and only being able to trade at fixed times rather than live prices. Some people prefer paying a known fee to an established provider rather than wondering where the catch is.
The Platforms I Use
I'm not a seasoned investor, and I'm not an expert. I started investing right after the first lockdown with around £1,000 and, in hindsight, made what I think was a mistake with my first platform—I picked an expensive one simply because that's what my friend was using, rather than comparing options myself.
That's why I created this page. Investing seemed complicated, so I started researching (by reading a lot on r/UKPersonalFinance, the UKPersonalFinance Wiki, and various blogs like Monevator) and building myself tools to make sense of all the different platforms.
What started as personal research turned into the comparison table above. Here's where I currently hold my investments:
InvestEngine – Zero-fee ETF platform. I use this for my main ISA and will probably open a SIPP here too.
IG Invest – No platform fees if you make 3+ trades per quarter. I use this for ISA investing.
Trading 212 – All-in-one trading platform. I use this for ISA, Cash ISA, and experimenting in a GIA.
Dodl – Simple investing by design. I use this for my Lifetime ISA.
These platforms generally charge lower fees than traditional providers like Hargreaves Lansdown. Most are newer companies with leaner operations. They still generate revenue – usually through interest on cash balances, payment for order flow, or currency conversion fees on international investments. I'm comfortable with this tradeoff for my small portfolio, but I might reconsider as it grows.
Stocks & Shares ISA FAQ
Can I have more than one Stocks & Shares ISA?
Yes. Since April 2024, you can pay into multiple Stocks & Shares ISAs in the same tax year. You can also hold ISAs from previous years with different providers. If you want to consolidate them, you can transfer old ISAs to one platform.
What happens if I exceed my ISA allowance?
HMRC will ask you to remove the excess amount, and any gains on that excess won't be tax-free. Platforms usually warn you if you're about to go over, but it's worth keeping track yourself – especially if you're splitting your allowance across multiple ISA types.
Can I withdraw from my ISA?
Yes, you can withdraw whenever you like – there's no lock-in period. With a flexible ISA, you can put the money back in the same tax year without using up extra allowance. With a standard ISA, withdrawn money counts as "used" for that tax year.
What's the difference between a Cash ISA and Stocks & Shares ISA?
A Cash ISA is a tax-free savings account – your money earns interest with no investment risk. A Stocks & Shares ISA lets you invest in the stock market, which has historically produced higher long-term returns but your investments can go down. They share the same £20,000 annual allowance.
Should I use an ISA or a pension?
Different tools for different jobs. A pension gives you tax relief on contributions – the government tops up your contribution by 20-45% depending on your tax bracket. But you can't touch it until age 55 (rising to 57 in 2028). An ISA has no upfront tax relief, but you can access the money whenever you want.
Do I need to declare my ISA on my tax return?
No. ISAs are completely tax-free and don't need to be reported to HMRC. No paperwork, no reporting, no tax calculations – the platform handles everything.
What happens to my ISA if I die?
Your ISA can be inherited by your spouse or civil partner through an Additional Permitted Subscription (APS). They get an extra ISA allowance equal to the value of your ISA at death. For other beneficiaries, the ISA loses its tax-free status but the investments can still be inherited.
Are my investments protected if the platform goes bust?
Your investments are held separately from the platform's own assets (ring-fenced), so if the platform fails your investments should be returned to you. The FSCS provides additional protection up to £85,000 per person per firm if there's any shortfall. Some people spread large sums across multiple providers to stay within this limit – though be aware that some brands share the same FSCS licence (e.g. iWeb, Halifax Share Dealing, and Lloyds share one £85,000 limit between them).
What's the difference between percentage-fee and flat-fee platforms?
Percentage-fee platforms charge a percentage of your portfolio value (e.g. 0.25% per year). Flat-fee platforms charge a fixed amount regardless of how much you have (e.g. £120 per year). Percentage fees are usually better for small portfolios – 0.25% of £10,000 is just £25. Flat fees become better value as your portfolio grows – £120 on £100,000 is only 0.12%.
What are FX fees and when do I pay them?
FX (foreign exchange) fees are charged when you buy investments priced in a different currency – typically US shares or some ETFs listed in dollars or euros. The platform converts your pounds, and takes a cut (often 0.5-1.5%). You'll also pay FX fees when receiving dividends from overseas investments. If you're buying UK-listed, GBP-denominated ETFs like VWRP or VHVG, you won't pay FX fees even though the underlying investments are global.
What's an in-specie transfer?
An in-specie transfer moves your actual investments to a new platform without selling them. The alternative is a cash transfer – selling everything, transferring the cash, then rebuying. In-specie is usually better because you stay invested throughout and don't risk the market moving against you. However, it takes longer (4-8 weeks vs 2-4 weeks) and not all platforms support it for transfers out.
How do I transfer an existing ISA?
Open an account with the new provider and request a transfer – they handle the paperwork with your old platform. Choose in-specie if you want to keep your investments, or cash if you want them sold. Never withdraw and redeposit yourself – you'll lose the tax-free status. Transfers typically take 2-8 weeks depending on the type.
Do all platforms support in-specie transfers out?
No – and this catches people out. Some platforms (notably InvestEngine and Trading 212) have had issues with in-specie transfers out, forcing customers to sell and transfer as cash instead. This matters if you're in a taxable account (potential capital gains tax) or if you don't want to be out of the market during the transfer. Check a platform's transfer-out policy before you commit – it's easy to get money in, but getting it out on your terms is worth checking.
What's the difference between accumulation and income funds?
Accumulation funds (Acc) automatically reinvest any dividends back into the fund, growing your holding without you doing anything. Income funds (Inc or Dist) pay dividends out as cash, which you can then spend or reinvest manually. For long-term growth, accumulation is simpler and avoids trading fees on reinvestment. For generating regular income, distribution makes sense.
What's regular investing?
Regular investing schemes let you set up automatic monthly investments – usually by direct debit. Many platforms offer reduced or zero trading fees for regular investments compared to one-off trades. For example, a platform might charge £5 per trade normally but £0 for regular investments. It's a cheap way to drip-feed money in over time.
How do zero-fee platforms make money?
They're not charities. Zero-fee platforms typically make money from: interest on uninvested cash in your account, foreign exchange fees when you buy non-GBP investments, wider bid-ask spreads, securities lending (lending out your shares to short-sellers), premium subscription tiers, and payment for order flow. You're not getting something for nothing – the costs are just less visible.
What's the difference between an ETF and a fund?
Both are baskets of investments, but ETFs trade on the stock exchange like shares (you can buy/sell anytime the market is open at live prices), while funds (OEICs/unit trusts) are priced once a day. ETFs often have slightly lower fees. Some platforms only offer ETFs, some only offer funds, most offer both. For passive investors, there's little practical difference – pick whichever your platform offers cheaply.
Do I pay tax on dividends in a Stocks & Shares ISA?
No – all dividends, interest, and capital gains inside an ISA are tax-free. That's the whole point of the wrapper.
Can I hold US shares in a Stocks & Shares ISA?
Yes, most platforms let you buy US and international shares. You'll usually pay an FX fee (typically 0.15% to 1.5%) when converting pounds to dollars. Dividends from US shares have 15% withholding tax deducted at source under the UK-US tax treaty – this applies even inside an ISA and can't be reclaimed.
What's the minimum amount to open a Stocks & Shares ISA?
It varies by platform. Many newer platforms have no minimum at all. Some require £1 or £100 to get started. A few older platforms require £500+. Check the platform's terms before signing up.
Can I have a Stocks & Shares ISA and a Lifetime ISA?
Yes. You can pay into both in the same tax year. The Lifetime ISA has its own £4,000 limit which counts towards your overall £20,000 ISA allowance. So if you max out your LISA, you have £16,000 left for other ISA types.
About This Comparison
This table shows what different UK investment platforms charge in fees. I've focused on execution-only platforms where you select your own investments, rather than advisory or managed services. Platform fees are just one cost to consider. Underlying fund charges and your investment choices will also affect your total costs.
Default sorting: Platforms are shown with zero-fee platforms first, then hybrid fees, percentage-based fees, and fixed fees. Within each fee category, they're sorted by trading costs (commission-free first), then alphabetically by platform name.
Use the filters above to narrow down platforms by fee type, trading costs, or investment options. The table will maintain its sorting order while showing only platforms that match your selected criteria.
