UK investment platforms compared

Who this guide is for

It’s for anyone comparing platforms for a Stocks and Shares ISA, a SIPP or a general investment account. It helps if you already know roughly what you want to hold, such as funds, ETFs or shares.

If you’re new to investing, our beginner’s guide to investing in the UK covers the basics first.

How platforms charge

Most of what you pay falls into five layers. Not every platform charges every layer.

• Platform or account fee. A yearly percentage of what you hold, a flat monthly fee or a subscription plan.
• Fund charges. Each fund takes an ongoing charge (shown as the OCF) from inside the fund. You pay this on any platform.
• Dealing charges. A fee each time you buy or sell. Some platforms charge different amounts for funds and for shares or ETFs.
• FX fees. A percentage charged when your money is converted to buy shares priced in another currency, such as US shares.
• Taxes and levies. Stamp Duty Reserve Tax of 0.5% applies to many UK share purchases, whichever platform you use.

Fund charges and stamp duty don’t appear in the table below because they don’t depend on the platform.

Quick comparison: fees

From each platform’s official charges page, checked 5 October 2026. AJ Bell’s charges have applied from 10 July 2026.

Fund charges, stamp duty and other third-party costs are extra. Fees can change, so check each charges page on the day.

Vanguard’s managed ISA adds a 0.20% management fee to the 0.15% account fee, plus fund costs.

Trading 212 also offers CFDs, which are high-risk products that use borrowing. We only cover its Invest, ISA and SIPP accounts here.

Quick comparison: accounts and minimums

From each platform’s official pages, checked 5 October 2026. On Freetrade, the ISA, Junior ISA, SIPP and general account are all available on the free Basic plan.

If you’re weighing up a Lifetime ISA, our Lifetime ISA rules guide explains how it works. Our Junior ISAs guide covers accounts for children, and our SIPP guide covers personal pensions.

How the fees behave as your pot grows

Percentage fees grow with your pot. Flat fees stay the same, so they weigh more on a small pot and less on a large one.

For example, a hypothetical fee of 0.3% a year is about £30 on £10,000 and about £300 on £100,000. A hypothetical flat fee of £5 a month is £60 a year at either size.

Caps change the picture too. A percentage fee with a monthly cap stops growing once you reach it. A tiered fee drops to a lower rate on larger amounts.

How often you trade matters as well. Dealing and FX fees are paid each time, so they add up faster if you buy shares often or invest in US shares. Our guide to US shares in a Stocks and Shares ISA covers FX in more depth.

What it might cost you

We don’t model yearly costs on this page. Our Stocks and Shares ISA fees guide works out approximate all-in costs on a £20,000 pot for three investing habits, across more platforms. Its figures are dated 30 August 2026, so check them against the charges pages above.

If you’re starting small, our guide to investing £50 a month explains how fees affect smaller pots.

Who each platform may suit

These are neutral pointers in alphabetical order, not recommendations.

• AJ Bell: worth a look if you want a broad DIY range of funds and shares, with a SIPP and Lifetime ISA on the same platform.
• Freetrade: worth a look if you want an app-based account with a free plan that includes an ISA and SIPP. FX fees are higher on the free plan.
• Trading 212: worth a look if you want commission-free dealing on its Invest account, ISA or SIPP. Keep an eye on FX if you buy overseas shares.
• Vanguard Investor: worth a look if you mainly want Vanguard’s own funds and ETFs with a simple account fee. The range centres on Vanguard products.

Protection and checking the firm

If an authorised investment firm fails and your money is missing, the FSCS can pay up to £85,000 per eligible person, per firm (source: FSCS). It doesn’t pay out because investments fall in value.

Cash you hold on a platform may be treated differently. Eligible bank deposits are protected up to £120,000 per eligible person, per authorised firm from 1 December 2025 (source: FSCS), but only where the cash is held as a protected deposit, so check how each platform holds uninvested cash. Our guide to FSCS protection limits explains both limits.

You can check any firm on the FCA Register before you open an account. The firm reference numbers we found were:

• AJ Bell Securities Limited: 155593
• Freetrade Limited: 783189. Its SIPP is operated with Platform One Limited.
• Trading 212 UK Ltd: 609146
• Vanguard Asset Management, Limited: search the FCA Register for the entity named in your account terms.

Fund documents: KIDs and product summaries

Each fund publishes a short document setting out its aims, risks and costs. From 6 April 2026, fund managers can replace the older key information document (KID or KIID) with a new product summary. The new rules apply in full from 8 June 2027 (source: FCA).

So until then, you may see either document on a platform. Both show the fund’s ongoing charge.

April 2027 ISA changes

From 6 April 2027, people aged 64 or under at the end of the tax year can put up to £12,000 a year into Cash ISAs. The overall ISA allowance stays at £20,000, and Stocks and Shares ISA room isn’t affected by the cash cap (source: GOV.UK).

Some related rules start at the same time:

• A 22% charge applies to interest on cash held in a Stocks and Shares ISA.
• A Stocks and Shares ISA can’t be invested 100% in money market funds.
• People under 65 generally can’t transfer from a Stocks and Shares ISA into a Cash ISA.

Our ISA allowance rules guide explains how the allowance works. Our Cash ISA vs Stocks and Shares ISA guide compares the two.

Transfers and leaving a platform

At some point you may want to move. Before you open an account, check:

• whether the platform charges to transfer out, either per account or per holding
• whether it can transfer your investments as they are, or sells them and moves cash
• how long transfers usually take

To keep ISA or pension tax benefits, ask the new provider to arrange a transfer. Withdrawing the money yourself and paying it in again can use up your allowance.

The catch

Key takeaways

• Compare platform fees, dealing charges and FX together, not one on its own.
• Percentage fees grow with your pot, and flat fees weigh more on small pots.
• All four platforms offer an ISA, SIPP and general account. Lifetime ISA and Junior ISA availability varies.
• FSCS investment protection covers firm failure, not market falls.
• Check each platform’s charges page on the day, as fees can change.

Related reading

Related guides

Back to hub

FAQ

Is a platform with no account fee always cheaper?

Not always. A platform with no account fee may charge more for FX, while a percentage fee can cost more as your pot grows. Our Stocks and Shares ISA fees guide compares costs for three common habits.

Do I pay fund charges on top of the platform fee?

Yes. Each fund takes its own ongoing charge from inside the fund, whichever platform you use. The fund’s KID or product summary shows the figure.

Can I hold an ISA and a SIPP on different platforms?

Yes. You can hold different accounts with different providers. Your payments into all your ISAs count towards the same £20,000 allowance each tax year, and pension contributions are separate.

Does the FSCS cover me if a platform fails?

It depends on what’s missing. If an authorised firm fails and your investments are missing, the FSCS can pay up to £85,000 per eligible person, per firm (source: FSCS). That doesn’t cover falls in the value of your investments.

Will moving my ISA to another platform cost anything?

Possibly. Some platforms charge to transfer out, and selling and buying back can mean dealing charges and time out of the market. Check the charges page of the platform you’re leaving before you start.