Best investment platforms: How to choose the right account for you

Products featured in this article are independently selected by This is Money’s specialist journalists. If you open an account using links which have an asterisk, This is Money will earn an affiliate commission. We do not allow this to affect our editorial independence.

In this guide we give our selection of the best investment platforms, helping you compare the leading providers and choose one that’s right for you.

The rise of do-it-yourself investing and online trading platforms has made it a lot easier – and cheaper – for people to invest in the stock market.

Gone are the days of buying investments through an expensive stockbroker, financial adviser or fund manager. Now relatively inexpensive investing platforms give you access to the full range of investments, along with quality customer service and investment research to help you choose investments.

There are even dedicated investment apps that allow you to invest in a few taps of your smartphone, and many of these platforms won’t charge you for doing so.

Most UK investment platforms offer the two main tax-efficient accounts for investors – a stocks and shares Isa and a self-invested personal pension (Sipp). You should also be able to invest outside of a tax-efficient wrapper using a general investment account.

We explain how to decide on the best investing platform for you, based on the type of investor you are and what you want to invest in – whether that’s shares, funds, investment trusts, exchange-traded funds (ETFs) or bonds.

The table gives an overview of each investment platform’s price and features, and we also review the various options in more detail. All platforms must be FCA regulated to feature here.

DIY INVESTING PLATFORMS

AJ Bell

AJ Bell

Easy investing and ready-made portfolios

Hargreaves Lansdown

Hargreaves Lansdown

Free fund dealing and investment ideas

interactive investor

interactive investor

Flat-fee investing from £4.99 per month

eToro

eToro

Share investing: 30+ million community

Trading 212

Trading 212

Free share dealing and no account fee

Best investment platforms: Costs

How to choose an investment platform: Tips on getting started

You should think carefully about the type of investor you are – or want to be – when choosing an investment platform.

Your decision depends on several factors including:

• how much you’re willing to pay in fees
• the type of investments you want to buy
• how much support you think you need in terms of customer service and research

It’s important to keep costs down as much as possible, but the cheapest investment platform won’t always be the best one for you. For example, investing apps such as Trading 212 and Prosper have zero account fees, but the customer service and investment analysis on offer isn’t as sophisticated as the likes of Hargreaves Lansdown and Interactive Investor.

Here are five questions to answer when getting started:

1. Is cheapest best for you? Platforms with low – or zero – account fees can be great for investors who don’t need much support, while others may like to pay more to receive a certain level of research and customer service in return.

2. What other fees does the investment platform charge? Check dealing fees along with costs for dividend reinvestment and regular investing to find out the true cost of investing. A low admin fee might be attractive but if you’re an active investor who does plenty of buying and selling, dealing charges could soon send costs soaring.

3. What type of account do you want to open? There is usually different charging structures involved for the various types of account you can open, and not every platform offers each type of account anyway.

4. What will you invest in? There are different dealing fees for shares, exchange-traded funds (ETFs), investment trusts and funds. This will affect your choice of investment platform.

5. What tools and research do you need? Some platforms will offer sophisticated tools and information for picking investments, while others will be more barebones – each appealing to different types of investors.

> Read more: Investing for beginners: Top tips on getting started 

How we review investment platforms

We focus on cost and quality primarily. But this isn’t a collection of the absolute cheapest DIY investing platforms, or an exhaustive list of them – it’s our pick of platforms that stand out for service and compete keenly on price.

The trading platforms we’ve highlighted allow you to open a variety of accounts – such as a general investment account, a stocks and shares Isa and a Sipp. If an investment platform offers a more limited choice in terms of accounts, there’s still a reason for highlighting it, which we explain in our review.

These investment platforms allow you to invest in a wide range of asset classes, regions and sectors, using vehicles such as investment funds, shares, ETFs and investment trusts.

We explain what type of investor each platform might be particularly suited to, because some will be better for certain investors than others. You should choose one based on your needs – and remember there are others on the market too.

A note on fees…

Investment account fees can be split into three camps. Some have a flat account fee, others charge a percentage of investors’ holdings, and some newer platforms have no account fees.

Dealing fees vary and you should research these carefully based on how many trades you think you’ll be making. Keep in mind low or fee-free regular monthly investing can substantially cut costs.

Many platforms offer free fund dealing. Almost all charge for buying and selling shares, investment trusts, ETFs and any other products that aren’t funds, but the fees vary from £3.99 to about £12. Some of the newer investing apps offer fee-free share, trust and ETF dealing.

The rise of online brokers and their investment accounts has slashed the cost of investing and made it much easier 

Trading platforms: Our pick of the best

We review the major investment platforms below, in alphabetical order

AJ Bell* – good for cost-conscious investors who want a highly rated service

• Competitive fees, with a low percentage account charge that’s capped for shares, trusts and ETFs.
• Lower foreign exchange fees than some other investment platforms.
• Other platforms offer free fund dealing, but AJ Bell charges £1.50.
• AJ Bell charges fees for regular investing and dividend reinvestment.

This is Money says: AJ Bell is straightforward to use and while it may not look as flashy as some rivals, it competes well on cost.

AJ Bell offers the full range of investments, including over 4,000 funds and 3,500 ETFs and the annual 0.25 per cent account charge is competitive. For funds, it steps down to 0.1 per cent from £250,000 to £500,000 and then nothing above that.

For other holdings in Isas, such as investment trusts, shares and ETFs, the account fee is capped at £3.50 per month – in a Sipp the cap is £10 per quarter.

AJ Bell offers cost-effective regular monthly investing in funds, shares and selected investment trusts, but dividend reinvestment isn’t cheap.

Learn more about AJ Bell* 

Bestinvest – good for free financial coaching sessions

• Free financial coaching from qualified financial planners.
• Reduced account fees when investing in Bestinvest’s ready-made portfolios and US shares.
• The account fees generally work out higher than most other platforms.
• No reduced regular monthly investing charges for shares and trusts, nor is there cheap dividend reinvesting.

This is Money says: Bestinvest has an easy-to-use platform with free financial coaching sessions and lots of useful information and help.

Bestinvest has an annual charge of 0.40 per cent a year on portfolios up to £250,000. This steps down to 0.2 per cent between £250,000 and £500,000, then 0.1 per cent above that to £1million, above which there’s no charge. Those opening a Sipp will pay a minimum service fee of £10 a month.

Bestinvest’s account fees work out more expensive than most, but it doesn’t charge for fund dealing and standard share and investment trust dealing is decent value at £4.95.

Learn more about Bestinvest 

Charles Stanley Direct* – good for clear account fees and financial coaching

• Straightforward 0.3 per cent account fee, with a minimum charge of £60 and a maximum of £600.
• No platform or trading charges when you invest in Charles Stanley’s multi-asset funds.
• Dealing fees for shares and trusts are costly, but you get £100 in trading credits a year.
• There’s a £100 fee if you have a Sipp worth less than £30,000.

This is Money says: We like that Charles Stanley Direct offers free 15-minute financial coaching sessions that can help investors get their questions answered and give them financial guidance.

It also has a clear fee structure, with a 0.3 per cent account charge no matter the size of your investments – but you’ll never pay account fees of more than £600.

Dealing fees are cheaper elsewhere, with fund dealing costing £4 and share and trust dealing costing £10. However, Charles Stanley Direct gives you £50 in trading credits every six months.

Learn more about Charles Stanley Direct* 

eToro* – good for social trading features and following other investors

• Social trading features allow you to become part of an investing community.
• It’s a low-cost option with no account or dealing fees.
• Foreign exchange fees are relatively high in comparison to other platforms.
• The stocks and shares Isa is powered by Moneyfarm and doesn’t offer a full range of investments.

This is Money says: eToro has surged in popularity in recent years after introducing commission-free investing for stocks in 2019, buoyed by volatility during the coronavirus pandemic.

You can get investment inspiration from regular investors by using the social trading features. But be careful about how much risk you’re taking when following others – their risk tolerance and investment goals may be very different to yours.

Investors can buy stocks from the UK, US, Europe and other countries but foreign exchange fees of 0.75 per cent apply.

Make sure you open an investment account and not one of eToro’s CFD Trading accounts, which This is Money believes it’s best for individual investors to avoid (61 per cent of eToro’s customers lose money trading this way). It also offers cryptocurrencies, which are high risk and volatile.

Learn more about eToro* 

Fidelity* – good for active investors seeking worldwide opportunities

• A wide investment choice and competitive foreign exchange fees.
• Account fees work out well for those with larger pots as a single percentage charge applies to the total value of your investments of up to £1million.
• The charging structure is more confusing for those with smaller pots.
• The dealing charge for shares, trusts and ETFs is high at £7.50.

This is Money says: Fidelity is one of the big investing names and has a platform packed with useful information, guides, market commentary and videos. Its website is easy to read and navigate.

We like that a single account fee applies to the total value of investments up to £1million. This is 0.35 per cent between £25,000 and £250,000 and 0.2 per cent up to £1million – so if your investments total £300,000 you pay the reduced 0.2 per cent on the entirety.

There’s no charge above £1million, but you still pay 0.2 per cent on the first £1million.

It’s not so cost-effective for those with less than £25,000, who are charged 0.35 per cent if they set up a regular savings plan and £7.50 a month if they don’t.

Service fees are capped at £7.50 a month for shares, trusts and ETFs.

Learn more about Fidelity* 

Hargreaves Lansdown* – good for customer service and investment research

• Customer service is available six days a week and the website has lots of information from its advisers and analysts.
• Hargreaves Lansdown has negotiated some reduced annual management charges from fund managers.
• Account fees are some of the most expensive of the platforms we’ve reviewed.
• Fund dealing is free but share, trust and ETF dealing costs £11.95 a trade.

This is Money says: Hargreaves Lansdown is one of the most well-known investment platforms. Its research is highly regarded, with a Wealth Shortlist that DIY investors can use when choosing investments.

It’s not the cheapest platform but it does come with lots of bells and whistles, including a very good investing app and plenty of support to help you pick investments.

Account fees depend on the type of account you open and the value of your investments, but they’re generally high at 0.45 per cent. We do like however that there’s no annual account charge for shares, trusts and ETFs held in a general investment account.

Learn more about Hargreaves Lansdown* 

Interactive Investor* – good for keeping costs down with flat fees 

• Flat fees can work out well for those with larger portfolios.
• Share dealing is cheaper than some other platforms.
• The fee structure can be confusing, with a number of different plans available.
• Fund dealing is £3.99 whereas other platforms offer this for free.

This is Money says: Interactive Investor charges a monthly subscription fee rather than fees as a percentage of your investments, starting at £4.99 a month for Isa investors with portfolios of less than £50,000. Those who want to add a Sipp can expect to pay either £5 or £10 extra depending on the tier.

Flat fees make it a good option for those with larger portfolios who would find percentage-based charges elsewhere mounting up.

The cost of buying and selling UK investments at £3.99 isn’t bad, but fund investing costs more than some rivals – you should work out what’s more cost-effective based on your needs. We like that Interactive Investor offers free regular investing.

With good service and fees that can be cost-effective, Interactive Investor is a top contender among investing platforms. But the different price tiers can be confusing, so make sure you spend time considering what works out best for you.

Read our Interactive Investor review to learn more. 

InvestEngine* – good for low-cost investing in ETFs

• InvestEngine offers a simplified and streamlined investing approach.
• There are no account fees and managed options are inexpensive.
• InvestEngine only offers ETFs.
• You can only transfer pensions from Hargreaves Lansdown and Vanguard.

This is Money says: InvestEngine suits those looking for low-cost ETF investing. You can open both an Isa and a Sipp and the platform has no account fees.

It’s a streamlined option, because you can’t invest in shares, investment trusts or investment funds. But for those willing to accept a more limited choice of investments in low-cost ETFs, InvestEngine is a good investment platform to consider.

We like that InvestEngine’s managed options are low-cost, with account fees of 0.25 per cent – however they are temporarily unavailable and there is no information yet about when InvestEngine plans on re-introducing them. 

Read our InvestEngine review to learn more. 

Trading 212* – good for low-cost investing in a wide range of investments 

• No account fees or dealing fees, plus competitive FX fees.
• Social trading features allow you to follow other investors.
• There is a good range of tools available to help you choose investments.
• The app is potentially overwhelming for beginners.

This is Money says: Trading 212 is a popular investment app with no account fees and free share, investment trust and ETF dealing. It allows people to invest in UK, US and European stocks and shares.

We like Trading 212’s investment pie feature, which allows you to build portfolios and quickly rebalance them, with the option to auto invest regularly.

Beginners can get started quickly using Trading 212, but our tests found the app slightly overwhelming and fiddly to use.

The app has a CFD trading function, which we believe people should avoid (75 per cent of investor accounts lose money trading this way on the platform).

Read our Trading 212 review to learn more. 

Other investing platforms to consider

Freetrade*: This is another subscription-based investment platform, which could work out to be very cost-effective – especially considering its stocks and shares Isa is now free. The platform has also introduced the ability to invest in a range of investment funds, but to do so you need to be on the Standard tier which costs £5.99 a month. It costs £11.99 monthly to have a Sipp as well as a general account and a stocks and shares Isa.

IWeb: IWeb is owned by Lloyds Banking Group and is potentially very low cost, with no account fees or dealing commission on international trades. It does cost £5 for each UK or fund trade but

Vanguard: The US giant is a well-known option for low-cost investing, Investors can use the platform to buy Vanguard’s own funds – either its cheap passive funds, its active range or its ready-made LifeStrategy funds. Be aware it’s changed its fees and those with pots below £32,000 must now pay £4 a month. People with pots of £32,000 and over will pay 0.15 per cent a year, up to a maximum of £375 a year. 

What’s the best account for your money?

Choosing the right account as a wrapper for your investments has the power to boost your long-term wealth by limiting the amount you pay in tax.

Both a stocks and shares Isa and a self-invested personal pension (Sipp) allow your investments to grow free of tax, but they work differently and suit different financial goals.

Stocks and shares Isa: You have a £20,000 annual Isa allowance that you can use to invest tax free. This allowance doesn’t carry over into the new tax year, so you lose it if you don’t use it all. It’s generally easy to access money in an Isa – unlike a pension, which you can’t access until later life. There are different types of Isa including a cash Isa and Lifetime Isa.

Self-invested personal pension (Sipp): A Sipp is a type of pension that gives you control over where your money is invested. You get tax relief on pension contributions up to your pension annual allowance, which is the lower of £60,000 or 100 per cent of your earnings. You can’t access the money in your Sipp until you reach the minimum pension age, which is currently 55. Withdrawals beyond your 25 per cent tax-free allowance are subject to income tax.

General investment account: This account doesn’t have a tax-efficient wrapper, meaning you can invest as much money as you like. However investment returns are subject to tax, so it’s best to maximise the amount you can invest in a stocks and shares Isa first.

What taxes do you pay on your investments?

Your investments are subject to tax when held in a general investment account.

Capital gains tax

You pay tax on gains when you sell an investment that’s increased in value – this is known as capital gains tax (CGT). The £3,000 capital gains tax allowance means you only have to pay the tax when your overall gains are above that amount.

CGT rates on shares, funds and investment trusts are 18 per cent for basic rate taxpayers and 24 per cent for higher rate taxpayers. These rates apply to assets sold from 30 October 2024. Before that date, CGT rates were 10 per cent and 20 per cent respectively.

> Read more: What is capital gains tax?

Dividend tax

If you get dividends from owning shares, you need to pay dividend tax. You have a dividend allowance, which is £500 in 2025/26 – the rate you pay on dividends above that amount depends on your income tax band.

The dividend tax rate is 8.75 per cent for basic rate taxpayers, 33.75 per cent for higher rate taxpayers and 39.35 per cent for additional rate taxpayers.

> Read more: What is dividend tax?

Income tax

You may need to pay this on income from bonds and gilts, which is in the form of interest payments. You have a personal savings allowance that lets you earn a level of income before you need to pay tax on it – this is £1,000 for basic rate taxpayers, £500 for higher rate taxpayers and £0 for additional rate taxpayers.

> Read more: What is income tax?

DIY INVESTING PLATFORMS

AJ Bell

AJ Bell

Easy investing and ready-made portfolios

Hargreaves Lansdown

Hargreaves Lansdown

Free fund dealing and investment ideas

interactive investor

interactive investor

Flat-fee investing from £4.99 per month

eToro

eToro

Share investing: 30+ million community

Trading 212

Trading 212

Free share dealing and no account fee