The short version
- There's no cheapest platform for everyone. On a £20,000 ETF ISA topped up every month, a year's charges on these nine platforms run from £0 to £88. Which is cheapest depends on how much you hold and how you buy.
- Caps matter more than headline rates. In an ISA, the charge on ETFs stops at £42 a year at AJ Bell, £90 at Fidelity, £150 at Hargreaves Lansdown and £375 at Vanguard.
- Platforms with no account fee earn money in other ways, such as currency fees and interest they keep on your cash, and they tend to offer fewer accounts and less help.
- I keep my long-term money with Vanguard and use Trading 212 for shorter- and medium-term money. Vanguard didn't reverse its £4-a-month minimum fee, so if you have less than £32,000 with it, several platforms here cost less. None of this is a recommendation, and neither firm pays this site.
- Before you open an account, check the firm on the FCA register. If a platform fails and investments are missing, the FSCS covers up to £85,000 per person, per firm. It doesn't cover falls in value.
- £0–£88a year's charges on a £20,000 ETF ISA, buying monthly, across the nine platforms
- 3 of 9charge nothing to hold ETFs in an ISA and buy them every month
- £85,000FSCS cover per person, per firm, if a failed platform's investments are missing
What I use, and why
Two platforms, for two different jobs.
Vanguard Investor
Money I'm investing for the long term sits with Vanguard. In December 2024 it announced a minimum fee of £4 a month for accounts under £32,000. The change was heavily criticised, and I came close to moving. Vanguard didn't reverse it: it only put the start back a month, to 28 February 2025, and the fee still applies.
I've kept my money there. But if you have less than £32,000 with Vanguard, other platforms cost less: see the sums below.
- 0.15% a year from £32,000, capped at £375 a year
- £4 a month below £32,000
- No dealing charge on ETFs bought at its twice-daily dealing times
- Only Vanguard's own funds and ETFs
Trading 212
I use Trading 212 for shorter-term investments, and for money I expect to need in the medium term, so it stays separate from the long-term pot.
- No account fee and no commission on ETFs
- Fractional shares from £1
- Interest on cash I haven't invested (3.8% AER in the ISA when checked), held partly in money market funds
- No phone line: help is by live chat and email
Nobody pays for this. Neither firm pays me or this site, there are no referral links on this page, and I pay the same charges as anyone else. This is what I do with my own money, in my own circumstances. It isn't a recommendation.
A split like this is simple to run. Since April 2024 you can pay into more than one stocks and shares ISA in the same tax year, within the £20,000 total. One general point, not about either platform: the sooner you need the money, the more a fall in prices matters. Will I lose money investing? shows how often UK shares were down over different holding periods.
Under £32,000 with Vanguard? What the £4 minimum costs
Until 28 February 2025, Vanguard charged self-managed accounts 0.15% a year, capped at £375, with no minimum. Since then, if the investments in your Vanguard ISA, pension and general account add up to less than £32,000 (cash doesn’t count), you pay a flat £4 a month instead. The change was heavily criticised, because it falls hardest on the smallest pots. A Junior ISA doesn’t pay the minimum, and nor does anyone whose only accounts are a Managed ISA or a Managed Pension.
| Invested with Vanguard | Before 28 Feb 2025 | Since 28 Feb 2025 | Extra a year |
|---|---|---|---|
| £1,000 | £1.50 | £48 | £46.50 (32 times as much) |
| £5,000 | £7.50 | £48 | £40.50 (6.4 times as much) |
| £10,000 | £15 | £48 | £33 (3.2 times as much) |
| £20,000 | £30 | £48 | £18 (1.6 times as much) |
| £32,000 or more | 0.15%, capped at £375 | 0.15%, capped at £375 | None |
Vanguard's account fee only; its fund charges come on top in both cases. Only investments count towards the £32,000: cash and a Junior ISA don't. Sources: Vanguard's fees page in December 2024 and today.
Below £32,000, other platforms cost less for the same job. Vanguard’s ETFs are listed on the London Stock Exchange, so you aren’t tied to Vanguard’s own platform to hold them. For an ETF ISA, buying every month, these cost less a year than Vanguard:
| Pot | Vanguard | Costs less a year (ETF ISA, buying monthly) |
|---|---|---|
| £5,000 | £48 | £0: Trading 212, Freetrade, InvestEngine £12.50: AJ Bell £17.50: Hargreaves Lansdown £35.50: Fidelity £36: Interactive Brokers |
| £10,000 | £48 | £0: Trading 212, Freetrade, InvestEngine £25: AJ Bell £35: Hargreaves Lansdown £36: Interactive Brokers |
| £20,000 | £48 | £0: Trading 212, Freetrade, InvestEngine £36: Interactive Brokers £42: AJ Bell |
| £30,000 | £48 | £0: Trading 212, Freetrade, InvestEngine £36: Interactive Brokers £42: AJ Bell |
Account fee plus 12 monthly purchases through each platform's cheapest regular route, before the ETFs' own charges and spreads. Same assumptions as the chart further down.
Price isn’t the only difference. Vanguard has a phone line and caps its fee at £375 however big the pot grows, while Trading 212, InvestEngine and Freetrade have no phone line; the profiles below say what each one leaves out. If you move an ISA, ask the new platform for a transfer rather than withdrawing the money yourself: How do I move an ISA? explains why.
What each platform is known for
Each label is a feature you can check in the table below, not a verdict, and the order isn’t a ranking: the two I use come first, then the rest from A to Z.
- Long-term investing in Vanguard funds: Vanguard Investor (I use this)
- No account fee, no commission and fractional shares: Trading 212 (I use this)
- A low cap on the ETF fee, with phone support: AJ Bell
- Over 3,000 funds, and a capped fee on ETFs: Fidelity
- A free plan that includes an ISA, SIPP and Junior ISA: Freetrade
- Every main account, research and phone support: Hargreaves Lansdown
- A flat monthly fee instead of a percentage of your pot: interactive investor
- Advanced trading on 175 markets: Interactive Brokers
- ETF-only investing with no platform fee: InvestEngine
The nine platforms side by side
Fees are for a stocks and shares ISA, from each firm’s own website on 19 and 20 October 2026. Each Check charges button opens the firm’s own charges page.
| Platform | Fees | What you can hold |
|---|---|---|
| Long-term investing in Vanguard fundsVanguard Investor What I use£48a year on a £20,000 ETF ISA, buying monthly*Check charges on Vanguard's website (opens the firm's own page) | £4 a month under £32,0000.15% a year from £32,000, capped at £375 a yearETFs: no dealing chargeOrders are pooled and dealt twice a day; a live-price deal costs £7.50 | Vanguard's own funds and ETFs only: more than 85 funds
|
| No account fee, no commission and fractional sharesTrading 212 What I use£0a year on a £20,000 ETF ISA, buying monthly*Check charges on Trading 212's website (opens the firm's own page) | No account feeApart from 0.7% on card top-ups over £2,000, the only charge on ISA, SIPP and Invest accounts is a 0.15% currency fee, where one appliesETFs: no commissionFree regular investing (AutoInvest); topping up by card costs 0.7% once card deposits pass £2,000 | UK, US and European shares, ETFs and investment trusts; no funds (OEICs or unit trusts)
|
| A low cap on the ETF fee, with phone supportAJ Bell £42a year on a £20,000 ETF ISA, buying monthly*Check charges on AJ Bell's website (opens the firm's own page) | 0.25% a year on ETFsCapped at £3.50 a month (£42 a year) in an ISA; funds 0.25% on the first £250,000ETFs: £5 a deal£3.50 after 10 or more deals the month before; monthly regular investing free | UK and international shares, 2,000+ funds, ETFs, investment trusts, bonds and gilts
|
| Over 3,000 funds, and a capped fee on ETFsFidelity £88a year on a £20,000 ETF ISA, buying monthly*Check charges on Fidelity's website (opens the firm's own page) | 0.35% a yearCapped at £7.50 a month on ETFs in an ISA or SIPP. Under £25,000, a flat £7.50 a month unless you have a regular savings planETFs: £7.50 a deal£1.50 through a regular savings plan; no charge on fund deals | 3,000+ funds, 2,000+ UK and international shares, ETFs and investment trusts
|
| A free plan that includes an ISA, SIPP and Junior ISAFreetrade £0a year on a £20,000 ETF ISA, buying monthly*Check charges on Freetrade's website (opens the firm's own page) | Basic plan: £0Standard £5.99 a month, Plus £11.99 (less if paid yearly); every plan includes all four accountsETFs: no commissionRecurring orders free; UK shares and London-listed ETFs are bought in whole units only | UK, US and European shares, 1,200+ ETFs, investment trusts, 500+ funds and gilts
|
| Every main account, research and phone supportHargreaves Lansdown £70a year on a £20,000 ETF ISA, buying monthly*Check charges on Hargreaves Lansdown's website (opens the firm's own page) | 0.35% a year on ETFsCapped at £12.50 a month (£150 a year) per account; Lifetime ISA 0.25%, capped at £45; funds 0.35% on the first £250,000ETFs: £6.95 a deal£3.95 after 20 or more deals the month before; monthly regular investing free for about 420 ETFs | UK and overseas shares, funds, ETFs, investment trusts, bonds, gilts and more
|
| A flat monthly fee instead of a percentage of your potinteractive investor £71.88a year on a £20,000 ETF ISA, buying monthly*Check charges on interactive investor's website (opens the firm's own page) | £5.99 a month (Core)For portfolios up to £100,000; Plus £14.99, Premium £39.99. One fee covers the ISA, SIPP and trading account. Junior ISA needs Plus or PremiumETFs: £3.99 a dealRegular investing free from £25 a month; Plus includes one free trade a month | UK and international shares, funds, 1,000+ ETFs, investment trusts, bonds and gilts
|
| Advanced trading on 175 marketsInteractive Brokers £36a year on a £20,000 ETF ISA, buying monthly*Check charges on Interactive Brokers' website (opens the firm's own page) | No custody feeISA: a £3 monthly minimum activity fee, reduced by any commission paid that monthETFs: 0.05%, minimum £3Fixed pricing on the London Stock Exchange; no regular investing in the ISA | Shares, ETFs, funds and bonds on 175 markets; options, futures and CFDs outside the ISA
|
| ETF-only investing with no platform feeInvestEngine £0a year on a £20,000 ETF ISA, buying monthly*Check charges on InvestEngine's website (opens the firm's own page) | No platform fee (DIY)Managed portfolios cost 0.25% a year but are closed to new clientsETFs: no dealing chargeOrders are dealt once a day; free Savings Plan; fractions from £1 | ETFs only, about 870 of them
|
*Account fee plus 12 monthly purchases of a London-listed ETF through the platform's cheapest regular route, on a pot worth £20,000 all year. It leaves out the ETF's own charge and the spread. The chart below shows other pot sizes. Interactive Brokers offers a SIPP only through a separate SIPP administrator.
What would you pay a year?
Fees come in three shapes: a percentage of your pot, a flat sum, or a charge each time you deal. Most platforms mix them, so the cheapest one changes as the pot grows. The chart works out a year’s charges for a pot of ETFs in a stocks and shares ISA.
What a year costs on each platform, holding ETFs in an ISA
Account or subscription fee plus dealing charges, before the funds' own charges. Choose a pot size and how often you buy. Hover over, tap or tab to a bar for the sum.
On £20,000, buying every month (12 purchases a year). Sorted from lowest to highest cost.
How the figures are worked out
- The pot is held in ETFs listed in London and priced in pounds, inside a stocks and shares ISA, and stays at the same value all year.
- Every month: 12 purchases through the platform's cheapest monthly route, usually its regular investing service. Once a year: one ordinary online deal.
- Where the dealing charge is a percentage (Interactive Brokers), each monthly purchase is taken as £500 and a yearly one as £6,000.
- Interactive Brokers' £3 monthly minimum is counted net of that month's commission. Fidelity's flat £7.50 a month applies under £25,000 when you don't have a regular savings plan, so it applies in the once-a-year case. interactive investor's Core plan covers portfolios up to £100,000; above that the cheaper plan is Plus.
- Not included: the ETF's own ongoing charge, the spread, currency fees, and charges for selling, withdrawing or transferring out.
| Platform | £5,000 | £10,000 | £20,000 | £50,000 | £100,000 | £250,000 |
|---|---|---|---|---|---|---|
| Vanguard Investor | £48 £48 once a year | £48 £48 once a year | £48 £48 once a year | £75 £75 once a year | £150 £150 once a year | £375 £375 once a year |
| Trading 212 | £0 £0 once a year | £0 £0 once a year | £0 £0 once a year | £0 £0 once a year | £0 £0 once a year | £0 £0 once a year |
| AJ Bell | £12.50 £17.50 once a year | £25 £30 once a year | £42 £47 once a year | £42 £47 once a year | £42 £47 once a year | £42 £47 once a year |
| Fidelity | £35.50 £97.50 once a year | £53 £97.50 once a year | £88 £97.50 once a year | £108 £97.50 once a year | £108 £97.50 once a year | £108 £97.50 once a year |
| Freetrade | £0 £0 once a year | £0 £0 once a year | £0 £0 once a year | £0 £0 once a year | £0 £0 once a year | £0 £0 once a year |
| Hargreaves Lansdown | £17.50 £24.45 once a year | £35 £41.95 once a year | £70 £76.95 once a year | £150 £156.95 once a year | £150 £156.95 once a year | £150 £156.95 once a year |
| interactive investor | £71.88 £75.87 once a year | £71.88 £75.87 once a year | £71.88 £75.87 once a year | £71.88 £75.87 once a year | £71.88 £75.87 once a year | £179.88 £179.88 once a year |
| Interactive Brokers | £36 £36 once a year | £36 £36 once a year | £36 £36 once a year | £36 £36 once a year | £36 £36 once a year | £36 £36 once a year |
| InvestEngine | £0 £0 once a year | £0 £0 once a year | £0 £0 once a year | £0 £0 once a year | £0 £0 once a year | £0 £0 once a year |
On £5,000, the three no-fee platforms cost nothing, while Vanguard’s £48 minimum takes 0.96% of the pot and interactive investor’s £71.88 takes 1.44%. By £100,000 the capped fees have stopped growing: AJ Bell costs £42, Fidelity £108 and Hargreaves Lansdown £150 a year. Vanguard’s 0.15% has reached £150 and keeps rising to its £375 cap at £250,000.
Two things the chart can’t show. At AJ Bell, Hargreaves Lansdown and interactive investor, regular investing is only free for the ETFs on each platform’s list; buy anything else and the online dealing charge applies each time. And it covers ETFs only. In funds, Hargreaves Lansdown, AJ Bell and Fidelity charge a percentage that keeps rising long after their ETF caps: £100,000 in funds at AJ Bell costs £250 a year, against £42 in ETFs.
Platform by platform
What each one charges, what it offers, and the points worth knowing before you open an account. The firm reference number links to the FCA register, where you can check the firm is authorised.
Vanguard Investor What I use
Vanguard's own platform, and it sells only Vanguard funds and ETFs. The fee is a percentage of your pot, capped at £375 a year, with a minimum of £4 a month for pots under £32,000.
- Account fee
- £4 a month (£48 a year) under £32,000; 0.15% a year from £32,000, capped at £375. No £4 minimum on a Junior ISA, or if you only have a Managed ISA or Managed Pension
- Buying an ETF
- No dealing charge at the set dealing times (10:15 and 14:10); £7.50 for a live-price deal
- Fund charges
- 0.06% to 0.79% a year, depending on the fund
- Interest on cash
- 1.85%
- Minimum
- £500, or £100 a month
- Support
- Phone (weekdays 9am to 5pm), secure message and email
- Regulated by
- FCA, firm reference 527839 (check the register)
Stands out
- The fee is capped at £375 a year, however large the pot grows
- No dealing charge on ETFs bought at the set dealing times, however often you buy
- Phone support, and a Junior ISA without the £4 minimum
Watch out for
- The £48-a-year minimum is 0.96% of a £5,000 pot
- Only Vanguard's own funds: no other providers' ETFs, no shares, no investment trusts
- No Lifetime ISA, and monthly payments start at £100
Check charges on Vanguard's website (opens the firm's own page)
Trading 212 What I use
An app-based platform with no account fee and no commission on shares and ETFs, in an ISA, a SIPP or a general account. Apart from 0.7% on card top-ups once they pass £2,000, its only charge on those accounts is a 0.15% fee when it converts currency.
- Account fee
- None on the ISA, SIPP or Invest account
- Buying an ETF
- No commission; free regular investing; orders from £1, with fractional shares
- Currency fee
- 0.15% on top of the spot rate
- Interest on cash
- 3.8% AER in the ISA if you turn interest on; the cash is then held in qualifying money market funds and banks
- Also offers
- A cash ISA, and a practice account with virtual money
- Support
- Live chat around the clock, and email; no phone line
- Regulated by
- FCA, firm reference 609146 (check the register)
Stands out
- No account fee or dealing charge, so the cost doesn't grow with your pot
- Fractional shares from £1, so a small monthly amount is fully invested
- A cash ISA and a stocks and shares ISA in the same app
Watch out for
- No Junior ISA, Lifetime ISA or funds
- In the ISA and Invest account, cash earning interest is held partly in money market funds, which aren't bank deposits and can fall in value (SIPP cash is held in banks)
- Its SIPP doesn't offer flexi-access drawdown
- The same firm offers CFDs, a high-risk product, in a separate account: it says 75% of retail CFD accounts lose money
Check charges on Trading 212's website (opens the firm's own page)
AJ Bell
A large UK platform that charges 0.25% a year on shares and ETFs, capped at £3.50 a month in an ISA. Monthly regular investing has been free since May 2026.
- Account fee
- Shares and ETFs: 0.25% a year, capped at £3.50 a month in an ISA and £10 a month in a SIPP. Funds: 0.25% on the first £250,000, 0.10% on the next £250,000, nothing above £500,000
- Buying an ETF
- £5 online (£3.50 after 10+ deals the previous month); regular investing free from £25 a month, for selected ETFs and trusts
- Currency fee
- 0.75% on the first £10,000, 0.50% on the next £10,000, 0.25% above
- Interest on cash
- 1.75% in an ISA
- Minimum
- £250, or £25 a month
- Support
- Phone (weekdays 8am to 7pm, Saturday 10am to 2pm), web chat and email
- Regulated by
- FCA, firm reference 155593 (check the register)
Stands out
- In an ISA, shares and ETFs never cost more than £42 a year to hold
- Free monthly regular investing in hundreds of ETFs and investment trusts
- Phone and web-chat support, and all five account types in the table
Watch out for
- £5 per online deal adds up if you buy often outside regular investing
- No low cap on funds: £250,000 in funds costs £625 a year
- Regular investing covers a selected list, not every ETF
Check charges on AJ Bell's website (opens the firm's own page)
Fidelity
A large fund supermarket that also sells shares and ETFs. Its service fee is 0.35% a year, capped at £90 a year on ETFs in an ISA or SIPP, but pots under £25,000 pay a flat £90 a year unless you have a regular savings plan.
- Service fee
- 0.35% a year below £250,000; from £250,000, 0.20% on the whole pot, and nothing above £1 million (at most £2,000 a year). Shares, ETFs and investment trusts in your ISA and SIPP together are capped at £7.50 a month. Under £25,000 without a regular savings plan: £7.50 a month flat
- Investment Account
- No service fee on shares and ETFs held in the general account
- Buying an ETF
- £7.50 online; £1.50 through a regular savings plan (from £25 a month, whole units only); no charge on fund deals
- Currency fee
- 0.75% up to £10,000, 0.50% to £20,000, 0.25% above
- Interest on cash
- 2.30% gross in an ISA
- Minimum
- £1,000, or £25 a month
- Support
- Phone (weekdays 8:30am to 5:30pm), secure message, and an investor centre in London
- Regulated by
- FCA, firm reference 122169 (check the register)
Stands out
- No dealing charge on funds, and a choice of more than 3,000
- The service fee on ETFs in an ISA or SIPP is capped at £90 a year
- Phone support, and an investor centre in the City of London
Watch out for
- Under £25,000 without a regular savings plan, a flat £90 a year: 1.8% of £5,000
- £7.50 per online ETF deal, and £1.50 even for regular purchases
- No Lifetime ISA, and no fractions: a regular ETF purchase must cover a whole unit
Check charges on Fidelity's website (opens the firm's own page)
Freetrade
An investing app owned by IG Group since 2025. Its free Basic plan now includes an ISA (since September 2025), a SIPP (since January 2026), a Junior ISA (launched April 2026) and a general account; the paid plans cut the currency fee and pay more interest on cash.
- Account fee
- Basic £0; Standard £5.99 a month, or £59.88 a year paid yearly; Plus £11.99 a month, or £119.88 a year paid yearly
- Buying an ETF
- No commission; free recurring orders; US shares from 10p, but UK shares and London-listed ETFs in whole units only
- Currency fee
- 0.99% on Basic, 0.59% on Standard, 0.39% on Plus
- Interest on cash
- Basic 1% AER on up to £1,000; Standard 2.5% on up to £2,000; Plus 3.5% on up to £3,000
- SIPP withdrawals
- £240 per lump-sum withdrawal (UFPLS); no drawdown
- Support
- Email on every plan; in-app chat on Standard and Plus only; no phone line
- Regulated by
- FCA, firm reference 783189 (check the register)
Stands out
- No platform fee on the Basic plan, including the SIPP and Junior ISA
- Funds and gilts as well as shares and ETFs
- Free recurring orders
Watch out for
- A 0.99% currency fee on the free plan if you buy shares priced in dollars or euros
- Each SIPP lump-sum withdrawal costs £240, and there's no drawdown: you'd have to move to take an income
- Transferring out costs £17 for each US holding
- No fractions in UK shares or London-listed ETFs, so some of a monthly payment can be left uninvested
Check charges on Freetrade's website (opens the firm's own page)
Hargreaves Lansdown
A long-established UK platform, taken private in 2025. Its charges changed on 1 March 2026: shares and ETFs now cost 0.35% a year, capped at £150 a year per account (£45 in a Lifetime ISA), and an online deal costs £6.95.
- Account fee
- Shares and ETFs: 0.35% a year, capped at £12.50 a month per account. Lifetime ISA: 0.25%, capped at £45 a year. Funds: 0.35% up to £250,000, then lower. Junior ISA: no account or online dealing charge (a currency fee applies to overseas shares since 1 March 2026)
- Buying an ETF
- £6.95 online (£3.95 after 20+ deals the previous month); regular investing free from £25 a month for listed ETFs
- Currency fee
- 0.99% on the first £10,000, 0.50% to £25,000, 0.20% above
- Interest on cash
- 1.30% in an ISA on the first £20,000, rising in tiers to 2.15%
- Also offers
- A cash ISA through partner banks
- Support
- Phone (weekdays 8am to 5pm, Saturday 9:30am to 12:30pm) and secure messages
- Regulated by
- FCA, firm reference 115248 (check the register)
Stands out
- Every account on this page, a Junior ISA with no account charge, and a cash ISA through partner banks
- Free monthly regular investing in about 420 ETFs
- Phone support, research and education
Watch out for
- A higher ETF cap than AJ Bell or Fidelity: £150 a year in an ISA, against £42 at AJ Bell and £90 at Fidelity
- £6.95 per online deal
- No fractional shares, so some of a monthly payment can be left uninvested
Check charges on Hargreaves Lansdown's website (opens the firm's own page)
interactive investor
Charges a fixed monthly subscription instead of a percentage. Since February 2026 the cheapest plan, Core, costs £5.99 a month for portfolios up to £100,000 and covers an ISA, a SIPP and a trading account together.
- Account fee
- Core £5.99 a month (up to £100,000); Plus £14.99; Premium £39.99. Junior ISA on Plus and Premium only
- Buying an ETF
- £3.99 on Core and Plus, £2.99 on Premium; regular investing free from £25 a month
- Currency fee
- 0.75% on Core; 0.75% falling to 0.25% on Plus; 0.25% on Premium
- Interest on cash
- 1.10% gross in an ISA on the first £20,000, rising in tiers to 2.10% gross on ISA cash above £100,000
- Support
- Phone (weekdays 7:45am to 5:30pm) and secure messages
- Regulated by
- FCA, firm reference 141282 (check the register)
Stands out
- The fee isn't a percentage: above £100,000 it's £14.99 a month (£179.88 a year) however big the pot grows
- A SIPP is included in the same fee; AJ Bell and Hargreaves Lansdown charge each account separately
- Free regular investing, and family members can be added free on Plus
Watch out for
- £71.88 a year on Core is 1.44% of a £5,000 pot
- Junior ISA only on the Plus and Premium plans; no Lifetime ISA
- You pay the fee every month, whether you trade or not
Check charges on interactive investor's website (opens the firm's own page)
Interactive Brokers
A global broker built for active and experienced investors. There's no custody fee, but its ISA has a £3 monthly minimum activity fee, and no regular investing or fractional shares inside the ISA.
- Account fee
- No custody fee. ISA: a £3 monthly minimum activity fee (£1 for a Junior ISA), offset by commission paid that month
- Buying an ETF
- 0.05% of the trade, minimum £3 (fixed pricing)
- Currency fee
- 0.03% in the ISA
- Interest on cash
- None on the first £8,000; 3.268% above that for accounts over US$100,000, less for smaller accounts
- SIPP
- Only through a separate SIPP administrator, which sets its own fees
- Support
- Phone (24 hours on weekdays) and in-app chat
- Regulated by
- FCA, firm reference 208159 (check the register)
Stands out
- A very low currency fee (0.03% in the ISA) and access to 175 markets (fewer inside the ISA)
- No custody fee, and dealing costs only 0.05% on larger trades
- A practice (paper-trading) account
Watch out for
- The £3 monthly minimum means an ISA costs at least £36 a year
- No regular investing or fractional shares in the ISA
- No interest on the first £8,000 of cash
Check charges on Interactive Brokers' website (opens the firm's own page)
InvestEngine
Sells only ETFs, about 870 of them. Its DIY service charges no platform fee and no dealing charge in an ISA, a SIPP or a general account, but it doesn't pay interest on cash.
- Account fee
- None for DIY portfolios in an ISA, SIPP or general account
- Buying an ETF
- No dealing charge; one trading window a day; fractions from £1; free Savings Plan
- Currency fee
- None (listed as free)
- Interest on cash
- None paid
- Minimum
- £100 to start a portfolio
- Support
- Email and contact form; no phone line
- Regulated by
- FCA, firm reference 801128 (check the register)
Stands out
- No platform or dealing fee, and fractional ETFs from £1
- A free Savings Plan for regular investing
- A SIPP with no platform fee
Watch out for
- ETFs only: no shares, funds or investment trusts
- No interest on uninvested cash
- One trading window a day, no phone support, and no Junior ISA or Lifetime ISA
Check charges on InvestEngine's website (opens the firm's own page)
Account and dealing charges are only part of the bill. Currency fees matter if you buy shares priced in dollars or euros, interest matters if cash sits uninvested, and some charges only appear when you leave or start drawing a pension.
| Platform | Currency fee | Transferring out | Interest on cash | Also worth knowing |
|---|---|---|---|---|
| Vanguard Investor | None listed | Free | 1.85% | £25 for a same-day (CHAPS) withdrawal |
| Trading 212 | 0.15% | Free; an ISA moved as investments must go whole, and fractions are sold first | 3.8% AER (ISA), if you turn it on | 0.7% on card top-ups once they pass £2,000 in total; bank transfers free |
| AJ Bell | 0.75% to 0.25%, tiered | Free | 1.75% (ISA) | £5 per holding if AJ Bell has to sell to pay charges |
| Fidelity | 0.75% to 0.25%, tiered | Free | 2.30% gross (ISA) | £30 for a deal by phone |
| Freetrade | 0.99% (Basic), 0.59% (Standard), 0.39% (Plus) | Free, except £17 per US holding | 1% AER on up to £1,000 (Basic) | SIPP: £240 per lump-sum withdrawal |
| Hargreaves Lansdown | 0.99% to 0.20%, tiered | Free | 1.30% to 2.15% (ISA), tiered | £1.95 per one-off fund deal |
| interactive investor | 0.75% (Core) | Free | 1.10% to 2.10% gross (ISA), tiered | £15 for a same-day withdrawal |
| Interactive Brokers | 0.03% (ISA) | Free for an ISA | None on the first £8,000 | Two free withdrawals a month, then up to £7 each |
| InvestEngine | None (listed as free) | Free; an ISA moved as investments must go whole, and fractions are sold first | None | ETFs only |
Currency fees apply when you buy or sell something priced in another currency, not to London-listed ETFs priced in pounds. Interest rates are those published on 19 and 20 October 2026; they change often.
What's changed since the end of 2024
Platform charges change more often than most people check them. These are the main changes for the platforms on this page, starting with the Vanguard fee that nearly made me move.
| Date | Platform | What changed |
|---|---|---|
| 12 Dec 2024 | Vanguard | Announces a minimum account fee of £4 a month for self-managed accounts under £32,000, due to start on 31 January 2025, and a cut in the Managed ISA's management fee from 0.30% to 0.20% (the 0.15% account fee still applies). (Which?, Money to the Masses) |
| 28 Feb 2025 | Vanguard | The £4 minimum takes effect, a month later than planned: Vanguard extended the notice period without giving a reason. It still applies. (Money to the Masses, Vanguard) |
| Mar 2025 | Hargreaves Lansdown | Taken private by a group of investors led by CVC, Nordic Capital and ADIA. (CVC) |
| 2025 | Freetrade | Bought by IG Group, in a deal announced on 16 January 2025. (IG Group) |
| 1 Sep 2025 | Freetrade | The stocks and shares ISA moves onto the free Basic plan; before, it needed the Standard plan (£59.88 a year paid yearly). (Freetrade) |
| 1 Dec 2025 | All | FSCS protection for cash held at a bank rises from £85,000 to £120,000 per person, per bank. Cover for investments stays at £85,000. (Bank of England) |
| 1 Jan 2026 | Freetrade | Interest on cash cut from 3% to 2.5% (on up to £2,000) on the Standard plan and from 5% to 3.5% (on up to £3,000) on Plus; Basic stays at 1% on up to £1,000. (Freetrade) |
| 22 Jan 2026 | Freetrade | The SIPP (previously on the Plus plan only), funds, gilts and ready-made portfolios are added to the free Basic plan. (Freetrade) |
| 27 Jan 2026 | Vanguard | Charges on its LifeStrategy funds cut from 0.22% to 0.20% a year. (Vanguard) |
| 1 Feb 2026 | interactive investor | New Core, Plus and Premium plans replace the old ones. Core costs £5.99 a month for portfolios up to £100,000 and includes the SIPP. (Money to the Masses, ii) |
| 1 Mar 2026 | Hargreaves Lansdown | New charges. Shares and ETFs: 0.35% a year, down from 0.45%, but the cap in an ISA rises from £45 to £150 a year. Online deals: £6.95, down from £11.95. Funds: 0.35%, down from 0.45%, with a new £1.95 charge for one-off fund deals. (HL tariff, HL in September 2025) |
| 1 Apr 2026 | Freetrade | Junior ISA launched, free on every plan. (Freetrade) |
| May 2026 | AJ Bell | The £1.50 charge for each regular investment is removed. (AJ Bell) |
| 26 Oct 2026 | Trading 212 | Interest on cash in the SIPP will fall from 3.80% to 3.00% AER. (Trading 212) |
How to choose
Start with how you’ll invest, then compare:
- Which accounts do you need? Wanting a Lifetime ISA, a Junior ISA or a SIPP narrows the list quickly.
- What will you hold? ETFs only, or funds and shares too? InvestEngine sells only ETFs and Vanguard only its own funds.
- How big is the pot, now and in ten years? Run both through the chart above. A fee that suits £5,000 may not suit £100,000.
- How will you buy? Monthly regular investing is free on seven of the nine, but at AJ Bell, Hargreaves Lansdown and interactive investor only for the investments on their lists. Fidelity charges £1.50 a purchase, and Interactive Brokers has no regular investing in its ISA.
- Do you want to talk to someone? Six of the nine have a phone line: Vanguard Investor, AJ Bell, Fidelity, Hargreaves Lansdown, interactive investor and Interactive Brokers.
- What would it cost to leave? Eight of the nine charge nothing to transfer an ISA out; Freetrade charges £17 for each US holding moved.
For help thinking it through, MoneyHelper offers free, impartial guidance, and a regulated financial adviser can give a personal recommendation. Do I need a broker? explains how platforms charge and how to check a firm on the register.
How this comparison was done
The nine platforms are ones widely used by people in the UK who invest on their own. All of them offer a stocks and shares ISA and ETFs listed in London. It isn’t every platform. Every figure comes from the firm’s own website, checked on 19 and 20 October 2026, and each is linked in the sources.
The yearly cost counts the account or subscription fee and the dealing charges for London-listed ETFs priced in pounds, held in a stocks and shares ISA, with the pot’s value unchanged over the year. It leaves out each ETF’s ongoing charge and spread, which you pay wherever you buy, and charges for selling, withdrawing, transferring and currency conversion. The full assumptions are under the chart.
No firm has paid to be included, there are no affiliate or referral links, and the order isn’t a ranking. Welcome offers are left out on purpose: they change every few weeks and say little about what an account will cost over the years you hold it.
Common questions
- Which is the cheapest investment platform in the UK?
- It depends on your pot and how you buy. Here, Trading 212, Freetrade and InvestEngine charge nothing to hold ETFs in an ISA and buy them monthly. Among platforms that charge a percentage, the cap decides it for bigger pots. Try the chart above with your own numbers.
- Is my money safe if a platform goes bust?
- Platforms have to keep your investments separate from their own money. If a firm fails and some are missing, the FSCS can pay up to £85,000 per person, per firm. Cash held at a bank is covered up to £120,000 per person, per bank, since 1 December 2025. Cash that a platform puts into money market funds isn’t a bank deposit. Are ETFs safe? explains more.
- Can I use two platforms, like you do?
- Yes. Since April 2024 you can pay into more than one stocks and shares ISA in the same tax year, as long as the total stays within £20,000.
- How do I move an ISA to another platform?
- Ask the platform you’re moving to for an ISA transfer and fill in its form. Don’t withdraw the money yourself: GOV.UK warns that if you do, you won’t be able to reinvest that part of your tax-free allowance. A stocks and shares ISA transfer should take no more than 30 days.
- Why aren’t welcome offers listed?
- They change every few weeks, and listing them would turn a comparison into an advert. If a platform has one, it will be on its own website. This site has no commercial link with any of the firms here.
- Why isn’t my platform here?
- There are dozens of UK platforms. These nine are widely used by people investing on their own, and all offer a stocks and shares ISA with London-listed ETFs. Leaving one out says nothing about it.
This page compares platforms on facts each firm publishes. It isn't a recommendation of any firm or advice about what you should do. Charges change: check the firm's own page before you open an account. Investments can fall as well as rise, and you may get back less than you put in. Read the full disclaimer.
Sources
- Our fees and charges, Vanguard Investor
- Low fees, clear costs (Vanguard's fees page), as published on 11 December 2024, Vanguard Investor, via the Internet Archive
- Self-managed service: costs and charges, Vanguard, 20 August 2026
- Client Terms, Vanguard, August 2026
- When will my order be placed?, Vanguard Investor
- Do you pay interest on cash held in my account?, Vanguard Investor
- Stocks and Shares ISA, Vanguard Investor
- Stocks and Shares ISA: terms, fees and interest, Trading 212
- What are the fees in the Invest, ISAs, and SIPP?, Trading 212 help centre
- Where is my cash held and how is it protected?, Trading 212 help centre
- Upcoming change to the interest rate on cash for SIPP accounts, Trading 212 help centre
- What is Flexi-Access Drawdown (FAD)?, Trading 212 help centre
- Can I move my Trading 212 ISA to another provider?, Trading 212 help centre
- CFD trading, Trading 212
- Stocks and shares ISA charges, AJ Bell
- ISA charges schedule, AJ Bell, effective 10 July 2026
- Interest rates, AJ Bell
- International dealing, AJ Bell
- AJ Bell supports little and often investing habit with free dealing for regular investments, AJ Bell, 27 April 2026
- Fees and charges, Fidelity
- Share dealing FAQs, Fidelity
- Doing business with Fidelity, Fidelity, August 2026
- How we manage your cash, Fidelity
- Compare plans, Freetrade
- Invest for less, Freetrade
- Freetrade updates Basic, Standard and Plus plans for 2025, Freetrade
- Freetrade launches its stocks and shares Junior ISA today, Freetrade, 1 April 2026
- How is interest on uninvested cash changing from 1 January 2026?, Freetrade help centre, 26 November 2025
- I want to chat to the Freetrade team, Freetrade help centre
- SIPP charges schedule, version 7.2, Freetrade, April 2026
- Transferring to other providers, Freetrade
- Stocks and Shares ISA charges and fees, Hargreaves Lansdown
- Terms and conditions, including the tariff of charges from 1 March 2026, Hargreaves Lansdown
- Our charges are changing, Hargreaves Lansdown
- Stocks and Shares ISA charges, as published in September 2025, Hargreaves Lansdown, via the Internet Archive
- Overseas share dealing, Hargreaves Lansdown
- Invest by direct debit, Hargreaves Lansdown
- Interest rates for HL accounts, Hargreaves Lansdown
- Our charges, interactive investor
- Rates and charges, interactive investor, 1 October 2026
- interactive investor launches new price plans, interactive investor, 8 December 2025
- Cash interest rates, interactive investor
- Regular investing, interactive investor
- Commissions, Interactive Brokers
- Commissions: stocks, Interactive Brokers
- London Stock Exchange fees, Interactive Brokers
- Other fees, Interactive Brokers
- Required minimums, Interactive Brokers
- ISA accounts, Interactive Brokers
- Information regarding IBUKL ISA, Interactive Brokers FAQ
- Interest rates, Interactive Brokers
- Costs, InvestEngine
- Terms and conditions, InvestEngine
- Interest on cash in your portfolios, InvestEngine help centre
- Managed and LifePlan Portfolios Availability, InvestEngine help centre
- Small-portfolio investors have weeks to avoid being hit by Vanguard fee hike, Which?, 20 December 2024
- Vanguard delays introduction of £4 per month minimum fee, Money to the Masses, 29 January 2025
- Vanguard fee warning: small investors urged to act now after £4 monthly charge kicks in, MoneyWeek, March 2025
- Vanguard LifeStrategy funds: now even better value for investors, Vanguard, 22 January 2026
- CVC, Nordic Capital and ADIA complete acquisition of Hargreaves Lansdown, CVC, March 2025
- Acquisition of Freetrade, IG Group Holdings plc (RNS), 16 January 2025
- Interactive Investor to launch new price plans, Money to the Masses, 11 December 2025
- Investments, Financial Services Compensation Scheme
- Banks, building societies and credit unions, Financial Services Compensation Scheme
- PRA confirms FSCS deposit limit to be increased to £120,000 from 1 December, Bank of England, 18 November 2025
- The Financial Services Register, FCA
- The Individual Savings Account (Amendment) Regulations 2024, legislation.gov.uk
- Individual Savings Accounts: transferring your ISA, GOV.UK
Charges checked on each firm's own website on 19 and 20 October 2026.