Investment Platforms UK 2026/27 — How to Choose a Broker, App or Robo-Advisor

AJ Bell vs Interactive Investor 2026: Which Platform Is Better?

Detailed AJ Bell vs Interactive Investor comparison covering fees, features, SIPPs, and which platform suits different portfolio sizes and investing styles.

· · 7 min read

AJ Bell and Interactive Investor are two of the UK’s largest investment platforms, but they take different approaches to pricing. This guide compares both to help you choose the right one.

Quick Comparison

FeatureAJ BellInteractive Investor
Fee modelPercentage-basedFlat monthly fee
Platform fee0.25% (tiered down)£11.99/month
Fund dealingFreeFree
Share dealing£5.00£3.99 (1 free/month)
Minimum investment£500 lump sumNone
Best forPortfolios under £50kPortfolios over £50k
Account typesISA, SIPP, LISA, JISA, GIAISA, SIPP, LISA, JISA, GIA

Fee Comparison: The Key Difference

The fundamental difference is how each platform charges:

  • AJ Bell: Percentage of your portfolio value (0.25%, reducing at higher tiers)
  • Interactive Investor: Flat monthly subscription (£11.99 for most investors)

Annual Platform Costs by Portfolio Size

Portfolio ValueAJ Bell Costii CostCheaper Option
£10,000£25£143.88AJ Bell
£20,000£50£143.88AJ Bell
£30,000£75£143.88AJ Bell
£40,000£100£143.88AJ Bell
£50,000£125£143.88AJ Bell
£57,552£143.88£143.88Break-even
£75,000£187.50£143.88ii
£100,000£250£143.88ii
£150,000£345*£143.88ii
£250,000£475*£143.88ii
£500,000£600*£143.88ii

*AJ Bell’s fee reduces at higher tiers (0.10% from £250k-£500k, 0.05% from £500k-£1m)

The crossover point is around £57,500 - below this, AJ Bell is cheaper; above it, ii wins.

Share Portfolio Exception

For portfolios holding mainly shares (not funds), AJ Bell caps platform fees at £3.50/month (£42/year) in an ISA or SIPP. This makes AJ Bell potentially cheaper even for large share portfolios.

Trading Costs

Share Dealing

AJ BellInteractive Investor
Standard trade£5.00£3.99
Frequent trader£3.50 (10+ trades/month)£3.99
Free tradesNone1/month (Investor plan)
Regular investing£1.50 per tradeFree

Winner: Interactive Investor (slightly cheaper per trade, plus free monthly trade)

Fund Dealing

Both platforms offer free fund dealing, so this is a tie.

Regular Investing

AJ BellInteractive Investor
Cost£1.50 per dealFree

Winner: Interactive Investor (free vs £1.50)

International Shares

AJ BellInteractive Investor
US shares£9.95 + 1% FX£3.99 + 0.99% FX
Europe£9.95 + 1% FX£9.99 + 1.5% FX
Other markets£9.95 + 1% FX£9.99 + 1.5% FX

Winner: Interactive Investor for US shares, AJ Bell for European/other markets

Investment Choice

Both platforms offer extensive investment options:

Funds

AJ BellInteractive Investor
Number available2,000+3,000+
All major providers✅✅
Own fund rangeAJ Bell fundsii Quick-Start funds
Curated listsFavourite funds (~80)ACE 40

Slight edge: Interactive Investor (more funds, though both are comprehensive)

Shares

AJ BellInteractive Investor
UK sharesFull LSE accessFull LSE access
International markets15+16+
Fractional shares❌❌
Investment trusts✅✅

Tie - both offer excellent share access

ETFs

Both offer 600+ ETFs from all major providers (iShares, Vanguard, Invesco, etc.).

Tie

Account Types

AccountAJ BellInteractive Investor
Stocks & Shares ISA✅✅
Lifetime ISA✅✅
Junior ISA✅✅
SIPP✅✅ (Investor plan required)
GIA✅✅

Tie - both offer all major account types

SIPP Comparison

Both platforms are popular for pensions:

FeatureAJ BellInteractive Investor
Annual fee0.25% platform feeIncluded in £11.99/month
Drawdown setup£295 one-offFree
Drawdown incomeFreeFree
Transfer out£25 per holdingFree
Investment choiceExcellentExcellent

Winner: Interactive Investor (no drawdown setup fee, free transfers)

For large pensions (£200k+), ii’s flat fee becomes very attractive vs AJ Bell’s percentage.

Platform Experience

Website

AJ BellInteractive Investor
DesignClean, functionalTraditional, comprehensive
Ease of useGoodGood
Research toolsSolidExcellent
Portfolio analysisGoodGood

Slight edge: AJ Bell (cleaner interface)

Mobile App

AJ BellInteractive Investor
App qualityFunctionalFunctional
Trading available✅✅
Price alerts✅✅
Biometric login✅✅

Tie - both have competent but not outstanding apps compared to newer platforms

Customer Service

AJ BellInteractive Investor
Phone support✅✅
Email✅✅
Live chatLimited✅
UK-based✅✅

Slight edge: Interactive Investor (live chat availability)

Which Platform Should You Choose?

Choose AJ Bell if:

✅ Portfolio under £50,000 - Percentage fee works out cheaper

✅ Mainly shares in ISA/SIPP - Capped £3.50/month platform fee

✅ Occasional trading - No subscription to pay when not active

✅ Want simpler pricing - Percentage fee easier to understand

✅ Use ready-made portfolios - AJ Bell’s managed options are competitive

Choose Interactive Investor if:

✅ Portfolio over £50,000 - Flat fee saves significant money

✅ Large pension - Flat fee excellent for big SIPPs

✅ Regular investor - Free monthly investing saves £18+/year

✅ Want a free trade monthly - Reduces trading costs

✅ Planning to grow - Costs don’t increase with portfolio

✅ May go into drawdown - No drawdown setup fee

Real Cost Examples

Example 1: Beginner with £15,000 ISA (funds)

AJ BellInteractive Investor
Platform fee£37.50£143.88
Trading (6 buys)£0 (funds free)£0
Total annual cost£37.50£143.88

Winner: AJ Bell saves £106.38/year

Example 2: Established investor with £80,000 ISA (shares and funds)

AJ BellInteractive Investor
Platform fee£200£143.88
Trading (12 buys)£60£35.91 (1 free/month)
Total annual cost£260£179.79

Winner: ii saves £80.21/year

Example 3: Large SIPP with £250,000 entering drawdown

AJ BellInteractive Investor
Platform fee£475*£143.88
Drawdown setup£295 (year 1)£0
Year 1 cost£770£143.88
Ongoing annual cost£475£143.88

*AJ Bell fee tiered: 0.25% on first £250k + 0.10% above

Winner: ii saves £626.12 in year 1, £331.12 ongoing

Transferring Between Platforms

Both platforms accept transfers from each other and other providers:

AJ BellInteractive Investor
Transfer time4-8 weeks (ISA)4-8 weeks (ISA)
In-specie transfers✅✅
Cash transfers✅✅
Exit feesVary by holdingNone
Transfer incentivesOccasionalOften available

Both platforms regularly offer transfer bonuses for larger portfolios - check current offers before transferring.

The Verdict

AJ Bell is the better choice for portfolios under £50,000, those wanting simpler pricing, and investors who mainly hold shares (thanks to the fee cap).

Interactive Investor wins for larger portfolios where the flat fee becomes exceptional value. If you have £100,000+, ii could save you £100-500+ annually compared to AJ Bell.

Both are excellent, established platforms with comprehensive investment options and good service. Your portfolio size is the main factor in deciding between them.

Your SituationRecommended Platform
Portfolio under £30kAJ Bell
Portfolio £30k-£60kEither (similar cost)
Portfolio over £60kInteractive Investor
Large SIPP/pensionInteractive Investor
Mainly share portfolioAJ Bell (capped fee)
Regular monthly investorInteractive Investor

Frequently Asked Questions

At what portfolio size should I switch from AJ Bell to ii?
The break-even point is around £57,500. If your portfolio is consistently above this and you mainly hold funds, ii becomes cheaper. However, if you hold mostly shares in an ISA/SIPP, AJ Bell’s capped fee (£42/year) may keep it cheaper even at larger sizes.
Can I transfer my ISA from AJ Bell to Interactive Investor?
Yes, both platforms accept ISA transfers from each other. You can do an in-specie transfer (move your existing investments) or cash transfer. The process typically takes 4-8 weeks. Check for transfer bonuses before moving.
Which is better for a SIPP?
For large SIPPs (£100k+), Interactive Investor is usually better value due to the flat fee. ii also has no drawdown setup fee vs AJ Bell’s £295. For smaller pensions, AJ Bell’s percentage fee may be cheaper.
Which has better customer service?
Both have solid UK-based customer service. Interactive Investor offers live chat which can be quicker for simple queries. Overall, both receive good customer service reviews.
Which is better for beginners?
AJ Bell is arguably simpler for beginners as you don’t have to think about subscription tiers. The percentage fee is intuitive and cheaper for smaller starting portfolios. However, neither is specifically designed for complete beginners - Vanguard Investor may be simpler still.

Capital at risk. Tax treatment depends on individual circumstances and may change. This is not financial advice.

Sources

  1. FCA — Investing
  2. MoneyHelper — Investing