Best Investment Platforms in The UK Compared

Ruby Layram 5th Sep 2024 No Comments

Reading Time: 12 minutes

Here at MoneyMagpie, we believe in the importance of making an informed decision at every step of your investing journey. That includes finding the best investment platform for your needs. 

Choosing the right platform from the start can make your investing journey a whole lot easier down the line! It will save you from having to juggle multiple platforms and moving your assets across different brokerages – which can be costly and a bit of a hassle! 

However, choosing the right investment platform is easier said than done. There are hundreds of online stock brokers and trading platforms available to UK investors and all of them offer different features. 

To help you better understand the differences between some of the top platforms, we have spent time reviewing 9 highly-rated investment platforms that are available in the UK. 

In this article, we will reveal our take on each platform as well as some top tips for choosing the best option for you.

Overview of The Best UK Investment Platforms

Here is a brief overview of the best investment platforms that we found during our research. Scroll down to read our full reviews. 

1. eToro: eToro takes the top spot as the best overall investment platform because it offers a wide range of financial instruments, tools for both long-term investing and short-term trading and a selection of ready-made investment portfolios. 
2. Hargreaves Lansdown: HL is the best platform to invest in funds such as ETFs. There are currently over 3000 funds available through the brokerage which makes it easy to build a diverse portfolio. 
3. Revolut: Revolut is the best investing platform for mobile users. The app also doubles up as a banking app which means that you can store all of your finances in one easy-to-access place. 
4. Nutmeg: Nutmeg is the best investment platform for ISAs. The app makes opening an ISA simple with a user-friendly interface, expert market insight and helpful guides.
5. Trading212: This is the best platform for readers are interested in trading CFD assets. You can access over 12,000 stock CFDs as well as advanced charting tools for technical analysis. 
6. AJ Bell: AJ Bell is a platform for the ‘DIY Investor’.  It’s ideal for those looking for a wide range of investment options and high-quality research and educational resources. 
7. Charles Stanley: A UK-based investment platform that is suitable for beginner investors due to it’s user-friendly interface and excellent customer service. 
8. Interactive Investor: Interactive Investor is a top UK investment platform that offers over 40,000 financial instruments. These include pensions and funds which are ideal for people who want to save into a pot!
9. IG: IG is a popular forex broker that can also be used to trade stock CFDs. This platform is best suited for short-term traders who want to conduct advanced technical and fundamental analysis. 

What Is an Investment Platform?

An investment platform is an online platform that provides access to the stock market, allowing users to invest in financial products. These include stocks, bonds, mutual funds, and ETFs. 

These platforms connect investors with financial markets, acting as the middleman to a variety of investment opportunities.

How does an investment platform work?

Investment platforms work by providing a user-friendly interface through which individuals can manage their investments. 

Users can research different investment options, analyze their performance, and make informed decisions about where to allocate their funds. 

These platforms often offer tools and resources to assist you in your decision-making process, such as financial calculators, market insights, and risk assessment tools.

What Makes a Good UK Investment Platform?

When looking at investment platforms in the UK, it is important to look out for specific features that all top platforms should provide. 

A ‘good’ investment platform is a platform that provides a great user experience that allows you to invest confidently. 

But, what does that look like?

User-Friendly Interface: A great platform will be simple and easy to use. This ensures your investment management is straightforward and clear.

Wide Selection of Investment Options: Find a platform with many investment types. This includes stocks, bonds, mutual funds, and more. It lets you build a diverse portfolio to meet your goals.

Competitive Fees: Choose a platform with low fees. This means looking at account costs, trading fees, and other charges. Lower fees help you keep more of your profits.

Reliable Customer Support: Good customer service is key. Make sure the platform you choose offers prompt help by phone, email, or live chat. They should solve your problems fast.

Strong Security Measures: Check for a platform that takes security seriously. It should use encryption and require extra verification to keep your details safe.

When choosing an investment platform, it is important to shop around. Make sure that the platform you use provides you with the tools that you need to carry out your strategy.

Best Investment Platforms in The UK Reviewed

Here is a closer look at the best investment platforms in the UK.

1. eToro – The Best Investment Platform Overall

eToro is a well-known online brokerage that offers tools for investing and trading. The platform is popular in the UK because it is easy to use, is available on mobile and desktop, and has developed a very strong reputation around the globe.

eToro also offers several features that are not available on all investment platforms. 

• Social Trading: This feature makes it possible to connect with other investors and see what type of positions they are taking. Investors can share their trades on the social feed for others to see.
• Copy Trading: With CopyTrading, you can copy the trades of ‘expert’ investors in a way that automates your strategy. This is a good way to learn from others and invest more passively. 
• Smart Portfolios: These are ready-made portfolios that allow you to diversify without needing to make multiple different investments. The platform offers Smart Portfolios in various sectors such as tech and healthcare. 

eToro fees

eToro has a transparent fee structure which is fairly competitive. 

Fees	Amount
Commission on Stock Trading	0%
Conversion Fee	0.5% to 2% (depending on currency)
Withdrawal Fee	$5 (or currency equivalent)

Remember, the fees might change depending on where you are and what you invest in. Always check the latest on eToro’s fee page.

eToro customer ratings

Customers like eToro for being easy to use and provides numerous different investing options. However, eToro might not be the best platform for everyone and it is important that you do your research.

In the end, eToro stands out as the top choice in the UK. Its advanced features, good prices, and happy customers make it a winner.

2. Hargreaves Lansdown – The Best Platform To Invest in Funds

Hargreaves Lansdown is a well-known brokerage that is popular amongst long-term investors. 

One of the reasons for this is that the platform offers a wide range of funds as well as excellent research tools and investment guidance. 

There are over 3000 funds available to buy and sell through Hargreaves Lansdown and the broker has a team of experts ready to assist you with building a strong strategy. 

Hargreaves Lansdown fees

Hargreaves Lansdown offers a transparent fee structure which is relatively easy to calculate. 

 

Fees	Amount
Fee to buy funds	$0
Stock trading fee	From $5.95
Withdrawal Fee	$0 (for basic withdrawals)

HL customer ratings 

People like Hargreaves Lansdown for its wide fund selection and useful tools. They also appreciate the platform’s easy access and educational resources.

The broker has a solid reputation and is used by over 1.7 million investors worldwide. 

3. Revolut – The Best Mobile Investment App

While some investors like to invest through their laptops, you may be on the hunt for the best mobile app. If this is the case, Revolut could be a good option to consider. 

Revolut stands out with its amazing features for investing on the go. Its simple design and easy layout make it simple to use. You can check your portfolio, see how your investments are doing, and trade quickly. 

Plus, Revolut offers up-to-the-minute market info, tools for analysis, and alerts you can customise. This keeps you updated and in charge of your money.

Revolut gives you lots of ways to invest, fitting different strategies and risks. You can choose from stocks, ETFs, or cryptocurrencies. Buying and selling is just a few taps away on your phone. This means you’re free to try new investments and mix up your portfolio as you like.

One of the best things about Revolut is how easy it is to use. The app is built for a smooth investment journey, even if you’re just starting out. It’s clean and simple, making it easy to find your way around. Managing your investments, checking their progress, and making smart choices – it’s all there in the app. 

Revolut is all about making investing hassle-free, which makes it the top choice for many in the UK.

Revolut fees

Fees	Amount
Stock trading fee	From 0%
Account fees	From $0 per month
Cryptocurrency fees	1%

Revolut customer ratings

Revolut has received excellent ratings from users and is considered to be one of the best mobile banking apps. Users particularly like how you can manage all of your finances in one place, which means no more back and forth!

4. Nutmeg – The Best Platform To Invest in ISAs

Nutmeg is a mobile investment platform that is owned by JP Morgan. Although this app isn’t the best for buying individual shares, it is an excellent option for people who are looking to invest in ISAs. 

Nutmeg has a variety of ISAs, including Stocks and Shares ISAs, Lifetime ISAs, and Junior ISAs. These accounts are tax-efficient and can bring in good returns over time. With choices for all risk levels, whether you’re just starting or a pro, there’s something for you.

Their platform comes with powerful tools for managing your investments. You can easily look at the best way to spread your money, assess risks, and keep your investments on track. It helps you grow your wealth over the long haul.

Nutmeg fees

Nutmeg fees are slightly different to the fees that are charged by other investment platforms. 

Instead of charging fees for buying and selling stocks, the platform charges a fee for managing your portfolio. This is calculated daily and varies. 

The fees are collected automatically from your Nutmeg account once a month.

Nutmeg customer ratings

Nutmeg is a very popular ISA investing platform. We personally love the risk management tools that allow you to adjust the amount of risk involved with investing. The app itself is very easy to use – even for beginners!

5. Trading212 – The Best Platform For Trading CFDs

So far in the guide, we have mainly looked at platforms for investing directly in stocks and shares. However, some people may prefer to invest in CFDs.

If this sounds like you, Trading 212 might be a good platform to consider. 

Trading212 has an interface that’s easy to use for trading CFDs. You can trade various assets like stocks, indices, and cryptocurrencies. This gives you many choices for trading and growing your portfolio.

Trading 212 also offers leveraged trading – which means that you can trade with more money than you have. Be aware, it can increase your losses too. So, learning how to control risks is crucial.

Managing risk in CFD trading is vital. At Trading212, you can use tools like stop loss and take profit orders. These help protect your money and cap how much you can lose.

Trading 212 also offers a cash savings account with a generous interest rate of 5.2%. This means that you can earn interest on cash that you don’t invest.

Trading 212 fees

Trading212 has clear and fair prices. There are no commissions for trading, and the spread is narrow. This means trading is cost-effective for you.

Fees	Amount
Stocks and ETF fees	0%
Account fees	$0 per month
Withdrawal fees	$0

Trading 212 customer ratings

Customers like Trading212 for its ease of use and many trading choices. Its customer support is quick to solve problems too.

Overall, Trading212 is a great choice for CFD trading. It has a simple design, many options, good prices, and tools for managing risk.

6. AJ Bell – The Best Platform for small-value portfolios

AJ Bell is a comprehensive investment platform known for its extensive range of investment options and excellent customer support. It’s particularly suited for investors with smaller-value portfolios due to its competitive percentage-based platform fees. 

However, it may not be ideal for those interested in fractional shares, cryptocurrency, or foreign exchange trading.

AJ Bell offers access to over 20,000 investment options including shares, funds, ETFs, and investment trusts. Additionally, it provides a selection of ready-made portfolios and AJ Bell’s own funds.

The platform excels in offering high-quality research and extensive educational resources, including videos, podcasts, and live webinars.

AJ Bell fees

AJ Bell charges fixed fees which make it easy to calculate the costs of trading. 

Fees	Amount
Share trading	£5 per trade
Fund	£1.50 per trade
Dividend reinvestment:	£1.50 per transaction

AJ Bell customer ratings

AJ Bell has received positive reviews from its customers for the platform’s ease-of-use and wide range of features. 

The main drawback of the platform is the relatively high trading fees. However, the platform offers a Dodl account for more cost-effective investing.

6. Charles Stanley 

Charles Stanley Direct is a solid choice for UK-based beginner investors due to its low fund fees, user-friendly interface, and responsive customer service. 

However, its limited product range and higher fees for stock and ETF trading may be a drawback for more experienced investors or those looking for more diverse investment options.

Charles Stanley is regulated by the FCA, ensuring a high level of investor protection. While it does not hold a banking license, its parent company, Raymond James Financial, Inc., is listed on the New York Stock Exchange.

Charles Stanley fees

Charles Stanley offers low non-trading fees however, stock trading fees are relatively high compared to other platforms. 

Fees	Amount
Stock trading fees:	£11.50 per trade
Account fees:	£0 per month
Withdrawals:	Free

7. Interactive Investor

Interactive Investor is a UK-based investment platform that charges a flat monthly platform fee and offers one of the lowest trading fees among mainstream platforms. 

With a selection of over 40,000 investments, it caters to a broad range of investors but does not support fractional shares, cryptocurrency, or foreign exchange trading.

Interactive Investor offers a vast selection of investments, including:

• Shares: From North America, Europe, and Asia-Pacific.
• Funds: Over 3,000 available.
• ETFs: More than 1,000 options.
• Investment Trusts: Over 600 choices.

It also provides ready-made portfolios managed by Morningstar, quick-start funds, and curated lists like the Super 60 and Ace 40 investments.

Interactive Investor fees

Interactive Investor charges average fees for trading. However, the platform does charge a monthly fee which varies depending on the type of account that you open. 

Fees	Amount
Stock trading fees:	£3.99 per trade
Account fees:	From £4.99 per month
Withdrawals:	Up to £15

Interactive Investor customer ratings 

Interactive Investor is rated highly by customers who are seemingly impressed with the broker’s customer service and experience. Overall, the platform seems easy to use, even for beginners who may need a little helping hand!

8. IG – The best platform for short-term CFD trading

IG offers the ultimate comprehensive trading package, featuring excellent trading and research tools, industry-leading education, and an extensive range of tradeable markets.

IG is known for its advanced trading tools which can be used as part of complex short-term trading strategies. This includes a range of price charts for technical analysis as well as derivative trading options.

If you’re interested in trading forex, this is the platform for you!

IG fees

Fees	Amount
FX trading fees:	From 0.6 pips
CFD trading fees:	From 0.4 pips
Withdrawals:	Free

IG customer ratings

IG has received mixed ratings on Trustpilot however, the majority of them are positive. This trading platform is catered to more experienced traders which means that complete beginners may find it a little confusing.

How To Choose The Right Investment Platform For You

There are hundreds of different investing platforms out there which is why it is SUPER important that you take time to research different options and find one that meets your needs. 

Here are some questions to ask yourself when looking for an investment platform.

What type of assets would you like to buy?

Firstly, decide on the assets you want to invest in. Each platform offers different investment choices like stocks, ISAs, or ETFs. Make sure the platform offers what you’re looking for to create a diverse portfolio.

What is your budget?

Then, take a look at your budget. Fees for services can vary, including trading commissions. Choose a platform that fits your budget. 

Keep in mind their minimum investment requirements too!

What is your level of experience? 

Your investing experience matters a lot. Beginners might like platforms with educational tools. While skilled investors could prefer platforms that offer advanced tools for analysis. 

Make sure that the platform you use matches your knowledge level.

Fully managed or not?

Another crucial factor to consider is how you would like to manage your investments. Fully managed platforms handle everything for you. Whereas, self-directed ones let you make the choices. 

A good idea is to choose a platform that offers both types of portfolio management so that you can adjust over time.

It is clear that there are a LOT of great options for investors in the UK. In this guide, we have compared 5 excellent platforms that are suited to different types of investors. 

Remember, the information provided in this article is based off of our review and experience and there is no guarantee that you will get the same results. This is why it is important to do your own research and shop around until you find a platform that meets your needs. 

With that being said, the platforms mentioned in this guide might be a great place to start if you have just begun your search for an investment platform!