Choosing the right investment platform can save you thousands in fees over your investing lifetime. Here’s how to find the best one for your situation.
If you want the full route through broker types, fee models, beginner apps, major platform reviews, and robo-advisor options, use the Investment Platforms hub.
Read more: See our Investing 101 guide for a complete overview of this topic.
Investment Platform Types
Type
Best For
Typical Fees
Fund platforms
Passive investors in funds
0-0.45% of portfolio
Stockbrokers
Share traders
Per-trade fees
Robo-advisors
Hands-off investors
0.25-0.75%
All-rounders
Mixed investors
Varies
Platform Fee Structures
Percentage Fee vs Flat Fee
Fee Type
How It Works
Best For
Percentage
Pay % of portfolio yearly
Smaller portfolios
Flat fee
Fixed annual charge
Larger portfolios
Per-trade
Pay each time you buy/sell
Infrequent traders
Free trading
No trade fees
Active traders
When to Switch Fee Model
Portfolio Size
Cheaper Model
Under £20,000
Percentage or free
£20,000 - £50,000
Compare carefully
Over £50,000
Often flat fee
Over £100,000
Definitely flat fee
Low-Cost Fund Platforms
For Passive Fund Investors
Platform
Annual Fee
Fund Charges
Best For
Vanguard
0.15% (max £375)
Vanguard funds only
Vanguard investors
InvestEngine
0%
ETFs only
Cost-conscious
AJ Bell
0.25%
Wide choice
Flexibility
Hargreaves Lansdown
0.45%
Widest choice
Research, service
Fidelity
0.35%
Good range
Balance
Fee Comparison: £50,000 Portfolio
Platform
Annual Platform Fee
Difference vs Cheapest
InvestEngine
£0
—
Vanguard
£75
+£75
AJ Bell
£125
+£125
Fidelity
£175
+£175
Hargreaves Lansdown
£225
+£225
Over 20 years, even £100/year difference = £2,000+ lost to fees.
Trading Platforms
For Share Investors
Platform
Trading Fee
Platform Fee
Best For
FreeTrade
£0 (basic)
£0/£60/£120 yr
Casual traders
Trading 212
£0
£0
Active traders
Interactive Investor
£3.99
£143-240/yr
Regular investors
AJ Bell
£5-10
0.25%
Mixed investors
Hargreaves Lansdown
£11.95
0.45%
Research/service
IG
£8
0% (shares)
Serious traders
For International Shares
Platform
US Shares
FX Fee
Best For
Interactive Brokers
Very low
0.03%
Global, active
Trading 212
Free
0.15%
Casual US
FreeTrade Plus
Free
0.99%
UK + some US
AJ Bell
£10
1%
Occasional
Robo-Advisors
Managed Investment Services
Platform
Annual Fee
What You Get
InvestEngine
0.25%
Managed ETF portfolios
Nutmeg
0.25-0.75%
Managed portfolios + support
Wealthify
0.60%
Simple managed investing
Moneyfarm
0.35-0.70%
Managed + advice
Robo-Advisor Comparison
If You Value
Consider
Lowest cost
InvestEngine
Ethical options
Wealthify, Nutmeg
Human advice
Moneyfarm
App experience
Nutmeg
ISA and SIPP Comparison
Stocks & Shares ISA
Platform
ISA Fee
Best For
Vanguard
0.15%
Vanguard funds
InvestEngine
0%
Free ISA
AJ Bell
0.25%
Wide choice
Interactive Investor
£143/yr
Larger portfolios
FreeTrade
£60/yr
Share trading
SIPP (Pension)
Platform
SIPP Fee
Drawdown Fee
Best For
Vanguard
0.15% (max £375)
TBC
Accumulation
AJ Bell
0.25%
Included
All-rounder
Interactive Investor
£143/yr
Included
Larger pots
Hargreaves Lansdown
0.45%
Included
Service/research
Fee Impact Over Time
£200/month Invested Over 20 Years
Platform Fee
Final Value
Lost to Fees
0%
£98,000
£0
0.15%
£95,700
£2,300
0.25%
£94,200
£3,800
0.45%
£91,300
£6,700
0.75%
£87,100
£10,900
Assumes 6% annual return. You also pay fund fees on top.
How to Choose
Quick Decision Guide
Your Situation
Consider
Beginner, small amounts
Vanguard, InvestEngine
Want simplicity
Robo-advisor
Buying UK/US shares
FreeTrade, Trading 212
Portfolio over £50k
Interactive Investor
Want research/guidance
Hargreaves Lansdown
Want everything in one place
AJ Bell
Key Questions
Question
Why It Matters
What will I invest in?
Affects platform choice
How much am I investing?
Determines best fee structure
How often will I trade?
Per-trade fees add up
Do I want ISA, SIPP, or both?
Some platforms charge extra
Do I need research/tools?
Premium platforms offer more
Platform Features Comparison
Core Features
Feature
Budget Platforms
Premium Platforms
Mobile app
✓
✓
ISA
✓
✓
SIPP
Some
✓
LISA
Some
Some
UK shares
Some
✓
US shares
Some
✓
Funds
✓
✓
Regular investing
✓
✓
Research and Tools
Feature
Budget Platforms
Premium Platforms
Fund research
Basic
Detailed
Share analysis
Limited
Comprehensive
Portfolio tools
Basic
Advanced
Tax reports
Basic
Detailed
Customer service
Online
Phone + online
Transferring Platforms
How to Transfer
Step
What Happens
1
Open account at new platform
2
Request transfer (new platform usually handles)
3
Investments transferred in-specie or sold
4
Process takes 2-8 weeks
Transfer Considerations
Check
Why
Exit fees
Some platforms charge
Transfer time
Markets move while waiting
Re-registration
Keep investments, don’t sell
Fractional shares
May not transfer
Safety and Protection
Regulatory Protection
Protection
Level
What It Covers
FCA regulation
Required
Platform conduct
FSCS
£85,000
If platform fails (cash)
Client money rules
Your assets
Held separately
Is My Money Safe?
If Platform Fails
Your Position
Your investments
Held in your name, protected
Uninvested cash
FSCS up to £85,000
Transfer to new platform
Possible
Key Takeaways
Fees compound — small differences matter hugely over time
Match platform to size — flat fee better for larger portfolios
Match platform to style — funds vs shares vs managed
Don’t overpay for features — only pay for what you’ll use
Consider switching — as your portfolio grows
Check total costs — platform fee + fund fees + trading fees