Interactive Investor (ii) is the UK’s biggest flat-fee-based investing platform, currently administering £59 billion in assets.
It is listed on the London Stock Exchange and a constituent of the FTSE 100.
It’s certainly one of my top choices as an investment platform in the UK, offering an impressive range of investment options, SIPPS and ISAs, a well-designed mobile APP, 24/7 customer support, and a thriving discussion forum.
To create this article, I’ve meticulously tested all of its specific features, evaluating its safety, product range, educational resources, customer service and more.
I’ve also compared it against a range of other top investment platforms. To do this, I’ve used a Dell laptop (windows), and an Iphone and Ipad using macOS.
While I have taken note of the ii’s industry recognition and customer reviews, my analysis is based on close and impartial testing over several months.
My goal is to help you decide whether or not it is the right platform for you based on expert, impartial advice
- Our Verdict
- Who is Interactive Investor?
- Product Range
- Account Types
- Safety and Security
- Platform & APP Review
- Tools and Resources
- Analysis and Insights
- Opening an account
- Customer Service
- Customer Reviews
- Is Interactive Investor better than Hargreaves Lansdown
- Interactive Investor vs eToro
- Interactive Investor vs Fidelity
- Interactive Investor Review: Summary
Our Verdict on Interactive Investor
Interactive Investor stands out as the leading flat-fee investment platform in the UK, offering significant advantages, particularly for investors with portfolios over £30,000, where its flat-fee structure is more cost-effective compared to the percentage-based charges of other platforms. The platform’s fees are often lower than those of its major competitor, Hargreaves Lansdown, especially for Super Investor plan members. Additionally, it boasts a diverse range of investment options, catering to a broad spectrum of UK investors.
On the downside, some users might find limitations in its investment options or services compared to other platforms. Despite these areas for improvement, the overall experience is positive, reflected in our review score of 4.5/5. This rating considers Interactive Investor’s efficient 24-hour weekday customer service, accessible via their app, which has been consistently responsive and helpful in our tests.
Pros and Cons of Interactive Investor
- Clear and transparent flat fees that can save you money in the long run compared to percentage-based fees.
- Wide selection of investment choices, with over 40,000 options available, including shares, funds, trusts, and ETFs to cater to your specific investment style.
- Benefit from an award-winning, user-friendly platform that makes investing effortless.
- Access to solid educational research and tools to help you make informed investment decisions.
- Well-designed mobile app for convenient investing on the go.
- Excellent customer support from a responsive, UK-based support team with great reviews on Trustpilot.
- Charting tools are limited, which may not be suitable for advanced traders who require more advanced analysis and tools.
- Some trading fees can be expensive compared to other brokers, which may not be suitable for those looking to minimize their trading costs.
- Interactive Investor can be an expensive option for smaller portfolios, as the flat fee structure may not be cost-effective for those with a lower investment amount.
Interactive Investor Special Offers
Current special offers include:
|Claim between £100 and £3,000 cashback when you transfer your pension||Start the transfer of your pension, worth at least £10,000, from another provider into an ii Self-Invested Personal Pension (SIPP) by 30 September 2023.||Get Offer|
|£200 Referral Bonus||Give up to five people a complimentary subscription to the investing service with Friends and Family from ii. You pay an extra fee of £5 a month, and their monthly cost is zero. Each member can invest up to £30,000 in an ISA or a general investing account.||Get Offer|
|Friends and Family Subscription||Give up to five people a free subscription to the investing service with Friends and Family from ii. You pay an extra fee of £5 a month, and their monthly cost is zero. Each member can invest up to £30,000 in an ISA or a general investing account.||Get Offer|
Who is Interactive Investor?
Launched in 1995, Interactive Investor is an award-winning online investment service. With 400,000 customers, it is one of the most engaged investor communities in the UK.
Interactive Investor was founded by Sherry Coutu and funded by angel investors Richard Caruso and John Cooper and the venture capital company Arts Alliance.
Until its purchase in 2022 by Abrdn, Interactive Investor was a private limited company majority-owned by funds advised by J.C. Flowers & Co, a leading private equity firm. O, Richard Wilson, continues to lead the business while retaining its brand and online infrastructure.
Interactive Investor is located in the UK and is a privately owned limited liability company (limited liability company called interactive investor Services Ltd) with no debt and net assets over £100 million.
How Does Interactive Investor Work?
Here’s how Interactive Investor works:
1. Setting Up An Account: The company offers several types of accounts, including Stocks and Shares ISAs, Trading Accounts, Self-Invested Personal Pensions (SIPPs), Junior ISAs, and Cash Savings. The choice of account type will depend on your specific investment goals, risk tolerance, and time horizon.
2. Deposit Funds: After setting up your account, you’ll deposit funds. Interactive Investor accommodates different methods of depositing funds, such as bank transfers or debit card payments.
3. Choosing Your Investments: Interactive Investor provides access to various investment options, including shares, funds, investment trusts, ETFs, bonds and gilts, IPOs, and international investing options.
4. Trading: You can buy and sell your chosen investments through the platform. Interactive Investor operates a flat-fee model, meaning you pay a set fee each month, which can make it a cost-effective choice for those with larger portfolios. This monthly fee includes free trades, with additional trades charged at a fixed rate.
5. Monitoring and Adjusting Your Portfolio: You can track your portfolio’s performance, make adjustments as needed, and use research tools to discover new investment opportunities.
6. Expert Guidance and Learning Resources: To assist your decision-making process, Interactive Investor offers expert investment ideas, quarterly investment review, and learning resources in their Knowledge Centre.
7. Withdrawals: You can withdraw money from your account at any time, although certain tax wrappers like the SIPP and ISA restrict you from withdrawing without incurring penalties.
What Can You Invest in with Interactive Investor?
Interactive Investor has one of the widest ranges of investment options of any provider we’ve tested. Their offering is as follows:
Interactive Investor provides access to more than 40 international stock exchanges, including the London Stock Exchange (LSE), the New York Stock Exchange (NYSE), and the NASDAQ.
You can trade shares from companies worldwide, from the biggest blue-chip stocks to smaller, emerging companies.
Interactive Investor offers access to over 3,000 funds, including open-ended investment companies (OEICs), unit trusts, and exchange-traded funds (ETFs).
You can invest in funds from leading fund managers such as Vanguard, BlackRock, and Fidelity, as well as a range of smaller providers.
Interactive Investor provides access to over 600 investment trusts, including well-known names such as Scottish Mortgage and Alliance Trust.
Bonds & Gilts
Interactive Investor offers access to various bonds, including government, corporate, and high-yield bonds. You can also invest in bond funds and ETFs.
Exchange-Traded Funds (ETFs)
ETFs are similar to mutual funds in that they offer investors exposure to a broad range of assets but have some distinct advantages. ETFs generally have lower fees and are more tax-efficient than mutual funds. They also trade like stocks, meaning investors can buy and sell them daily at market-determined prices.
With Interactive Investor, you can access over 1000 ETFs to invest in.
Interactive Investor offers various leveraged trading options, including Spread Betting (also known as Spread Trading on the platform), Contracts for Difference (CFDs), Options, Commodities, and FX Trading.
Interactive Investor Account Types
Interactive Investor Trading Account
Interactive Investor’s Trading Account is an award-winning investment account that offers low flat fees and provides access to over 40,000 UK and global stocks, funds, trusts, ETFs, and other investment options. By our analysis, it’s one of the most competitively priced share dealing accounts in the market.
You can trade in Stocks & Shares, ETFs (Share ETFs and Index ETFs), Investment Trusts, Investment Funds, Bonds & Gilts, Venture Capital Trusts (VCTs), Leveraged Trading, Spread Betting (called Spread Trading on the platform), Contracts for Difference (CFDs), Options, Commodities, and FX Trading.
ii offers two popular subscription plans, an Essentials plan for those investing up to £30,000 and an Investor plan for those with £30,000+.
Interactive Investor Joint Trading Account
A Joint Trading Account from Interactive Investor provides all the benefits of their Trading Account with shared ownership, allowing couples to optimise their Capital Gains Tax allowance. It offers simplified portfolio management, easy account access for both account holders and access to the full range of investment options.
Interactive Investor ISA
A stocks and shares ISA is a tax-efficient investment account in the UK that allows individuals to invest in a range of assets, including stocks, shares, bonds, and funds, without paying income tax or capital gains tax on the profits. You can invest up to £20,000 each tax year (as of 2023-24), and any returns you make on your investments are free from income tax and capital gains tax.
Interactive Investor’s ISA account allows you to invest in a wide range of assets, including shares, funds, investment trusts, ETFs, etc. You can invest in individual companies or diversify your portfolio with various assets.
Open an account in about 10 minutes, download the excellent Interactive Investor APP, and you can get started. There’s no minimum contribution needed, although you’ll need to put in at least £25 to take advantage of their free regular investment service.
Interactive Investor ISA Fees
Interactive Investor charges a flat fee of £9.99 per month, which includes one free trade per month.
Any additional trades cost £7.99 each. There are no additional account opening, exit, or annual management fees.
Interactive Investor Junior ISA
The Interactive Investor Junior ISA is a tax-efficient investment account designed for parents or guardians to save and invest for their child’s future.
This account allows contributions up to £9,000 per year, and anyone can pay into the account once opened by the parent or guardian. There is no minimum contribution to start, but customers can take advantage of Interactive Investor’s free regular investing service by setting up a direct debit for £25 per month.
After the age of 18, the child gains control over the account and can withdraw or convert it to an adult ISA.
The account offers a range of investment options, including shares, funds, bonds, investment trusts, and ETFs. Interactive Investor charges a flat fee subscription plan of £9.99 per month for their Investor plan, which includes one free trade per month, or £19.99 per month for their Super Investor plan, which offers lower trading fees and two free trades per month.
Joint trading accounts mean you’ll each have a private view of any personal accounts, such as your ISA or SIPP.
Interactive Investor SIPP
A Self-Invested Personal Pension (SIPP) is a tax-efficient pension wrapper you can invest in.
ii’s SIPP is ‘Which Reccommended’, offering a low flat fee as opposed to the percentage fee favoured by many competitors. As a new customer, your Pension Builder Plan will cost you £12.99 monthly.
As of June 2023, they also have some attractive offers available. Pay no SIPP fee for six months if you open an account before 30th.
Other Interactive Investor Products
Interactive Investor Company Account Review
The Company Account offered by Interactive Investor (II) allows UK-limited companies to trade in a wide range of investments, including UK and international equities, funds, ETFs, and investment trusts.
It can be managed online or over the phone, with up to four nominated individuals authorized to place trades on behalf of the company.
Some benefits of a Company Account include the ability to pay salaries in connection with pension contributions, flexibility in accessing certain asset classes, and the opportunity to claim back expenses, such as subscription fees, against tax.
To open a Company Account, complete an application form, ensuring that all sections are filled out. Directors or Beneficial Owners with 25% or more share capital must sign specific sections. There is an additional monthly charge of £30 for maintaining Company Accounts. If trading US-incorporated stocks, a W-8BEN-E form is required.
Interactive Investor Pension Trading Account Review
The Pension Trading Account was offered by Interactive Investor (II) allowed customers to manage investments within a Self-Invested Personal Pension (SIPP) or Small Self-Administered Scheme (SSAS) with another pension provider on the II platform.
However, since early 2023, II no longer offers new Pension Trading Accounts. Existing members of the Pension Trading Account can explore their options through the provided resources.
Interactive Investor Trading Account Review
Interactive Investor offers an impressive selection of over 40,000 global shares, ETFs, and funds, covering various regions and trading on 17 exchanges with 9 currencies. In my view, this is everything an average investor might need.
One standout feature of the Interactive Investor Trading account is the consolidated share dealing account, where all shares are stored. This means you have control over when currency conversions occur, reducing currency exchange costs and even enabling currency hedging.
A notable aspect to mention is that if you plan to purchase US-listed shares, you’ll need to complete a simple W-8 Form to comply with US regulations. The process is straightforward, and if you have a personal account, you can easily complete the form digitally on the investment platform.
When it comes to pricing, Interactive Investor’s share dealing account is extremely competitive. Their subscription packages are designed to cater to different investment sizes. Starting at just £4.99 per month for accounts under £30,000 and £9.99 for larger accounts, I see their pricing structure as one of the best in the market.
Interactive Investor Free Research Account
It’s a shame ii have stopped offering their research account. This was a hugely valuable tool for investors, providing access to various features that helped them track the performance of funds, shares, and trusts of interest. Unfortunately, applications for this account are no longer being accepted.
Interactive Investor Expert Picks
Interactive Investor Quick Start Funds
Quick-start Funds are a selection of six low-cost funds that provide a simple starting point for investing. These funds have been specially chosen by investment experts and are designed to provide investors with a diversified portfolio across a wide range of industries.
Quick-start Funds are a good option for those new to investing or those who want to start with a small investment amount. These funds are suitable for investors with a range of risk appetites, from lower risk to higher risk, and they are available in both passive and active/sustainable options.
Three of these funds adopt an active management approach and the other three are passively managed. The active funds are managed by Columbia Threadneedle and include CT Sustainable Universal MAP Cautious, CT Sustainable Universal MAP Balanced, and CT Sustainable Universal MAP Growth. They are aimed at responsible investing by avoiding harmful or unsustainable practices and focusing on companies that positively impact the world.
Vanguard manages the passively managed funds and include Vanguard LifeStrategy® 20% Equity Fund, Vanguard LifeStrategy® 60% Equity Fund, and Vanguard LifeStrategy® 80% Equity Fund. These funds aim to replicate the performance of a stock-market index.
Quick-start Funds have low ongoing charges, making them a good value-for-money investment option. For every £1,000 invested, only a small percentage goes towards management costs.
|Fund Name||Management Style||Risk Level||Equity Exposure||Key Features|
|Vanguard LifeStrategy® 20% Equity||Passive||Conservative/Low Risk||20% shares, 80% bonds||Low-cost, wide market access|
|Vanguard LifeStrategy® 60% Equity||Passive||Medium Risk||60% shares, 40% bonds||Low-cost, wide market access|
|Vanguard LifeStrategy® 80% Equity||Passive||High Risk||80% shares, 20% bonds||Low-cost, wide market access|
|CT Sustainable Universal MAP Cautious||Active||Conservative/Low Risk||20%-60% shares (typically 30%-50%)||Focuses on sustainable investing|
|CT Sustainable Universal MAP Balanced||Active||Medium Risk||30%-70% shares (typically 40%-60%)||Focuses on sustainable investing|
|CT Sustainable Universal MAP Growth||Active||High Risk||40%-80% shares (typically 50%-70%)||Focuses on sustainable investing|
ii Super 60
The ii Super 60 investments are a curated list of 60 investment choices, compiled by the in-house investment experts at Interactive Investor. The list is created with the primary objective of helping investors make investment decisions more confidently, providing them with a broad spectrum of high-quality choices across different asset classes and investment strategies.
These investments encompass a diverse range of funds, trusts, and ETFs, carefully chosen on merit, without bias or commercial incentives. The selection process involves rigorous assessment of each potential investment’s performance, quality, and suitability.
The comprehensive and regularly updated list covers various sectors, regions, and risk profiles, from active to passive strategies. It’s categorized into different asset classes such as equities, fixed income, property, and more. Furthermore, it’s also sorted by investment style, such as low-cost, income, smaller companies, enabling investors to refine their choices based on their unique investment goals and risk tolerance.
Interactive Investor’s team of investment analysts and their external research partner, Morningstar, closely monitor and analyze the funds included in the Super 60. They conduct regular reviews and updates quarterly, ensuring the addition or removal of funds based on performance and suitability.
Sustainable and Ethical Investing at ii
Interactive Investor (ii) offers a range of sustainable investment options that are aligned with environmental, social and governance (ESG) principles.
Interactive Investor uses an ACE framework to categorize the sustainable approach of funds on its platform.
ACE stands for Avoids, Considers and Embraces:
Avoids – These funds exclude or screen out companies, sectors or practices that do not meet their ethical standards. For example, funds that avoid tobacco, weapons or fossil fuels.
Considers – These funds use environmental, social and governance (ESG) criteria when selecting investments. They actively consider ESG risks and opportunities as part of the investment analysis process.
Embraces – These funds go a step further to focus their investments on companies that deliver positive social or environmental outcomes. For example, funds investing in renewable energy or healthcare innovations.
Sustainable Investments Long List
Interactive Investor has created a “Sustainable Investments Long List” of over 200 funds, investment trusts and ETFs that invest sustainably in some form. This long list was developed in collaboration with SRI Services, an independent sustainable investment research firm.
The long list aims to provide a comprehensive menu of sustainable investment options across various asset classes like equities, bonds and property. The objective is to cover a diverse range of investment approaches from ethical screening to thematic environmental funds.
The long list classifications from Morningstar provide further insight into the precise sustainable style of each fund. This helps investors align their fund selection to their values.
From this long list, Interactive Investor’s investment analysts have hand-picked the “ACE 40”. This is a rated shortlist of 40 high quality sustainable funds and trusts to provide investors a filtered selection of sustainable investing options.
ii ACE 40
The ACE 40 by Interactive Investor (ii) is a curated list of what ii believes to be the 40 best sustainable funds, investment trusts, and exchange-traded funds (ETFs).
The selections are considered high-quality companies from a variety of sectors and regions. They are chosen not only for their potential for strong financial performance but also for their genuinely sustainable practices.
The ACE 40 is designed to suit all investors and aims to offer a broad range of investment options without any “greenwashing” – a term for misleading information about a company’s environmental credentials.
The ACE 40 list includes global equities and fixed-income options sorted into different investment categories. These categories aim to suit your type of investor, from low cost (for those looking to control their spending) to smaller company and adventurous (for investors willing to take higher risks).
Benefits of using ACE 40:
- Simplifies the process of sustainable investing, making it easier for individuals to invest in a manner aligned with their ethical and environmental values.
- Offers a high-quality, diversified range of sustainable investment options.
- A transparent and straightforward approach to selecting and categorising funds.
- Helps in building balanced, sustainable portfolios.
ii Model Portfolios
Interactive Investor offers five model portfolios that are selected and managed by their independent research partner, Morningstar, and reviewed by in-house investment experts. The portfolios are designed to make investment selections easier for investors by offering growth or income options, with a choice of actively managed investments or low-cost tracker funds.
The five model portfolios offered by Interactive Investor are:
- Active Growth – a portfolio of 11 actively managed funds and trusts for investors building their assets.
- Active Income – a portfolio of 11 high yielding, actively managed funds and trusts for investors seeking income from their assets.
- Low-Cost Growth – a portfolio of 11 low-cost tracker funds and ETFs for investors building their assets.
- Low-Cost Income – a portfolio of 10 low-cost, high yielding tracker funds and ETFs for investors seeking income from their assets.
- Sustainable Growth – a portfolio of 12 funds that invest socially responsibly.
Each portfolio has an asset allocation to global equities of between 80% and 100%, and they are designed for investors who have at least five years before they need the money. The value of investments in these portfolios may go down and up, and investors may not get back all the money they invest.
Interactive Investor publishes quarterly updates on the performance of the model portfolios, highlighting any changes made to the portfolio and running through fund performance. Investors can buy and sell each constituent individually, with lump-sum investments starting from as little as £3.99 online, depending on the Service Plan selected. A 0.5% UK stamp duty applies when buying investment trust shares, and government charges apply to some investments.
Interactive Investor Safety and Security Review
Is Interactive Investor safe and regulated by the FCA?
Like most major investment platforms, Interactive Investor is regulated by the UK’s Financial Conduct Authority (FCA), meaning it is extremely safe. This means it is held to strict standards and regulations regarding the security of your funds and personal data.
What happens to my investments if Interactive Investor goes bust?
Since client funds are kept completely separate from ii’s accounts, your hard-earned investments should be completely safe in the event of insolvency. The Financial Services Compensation Scheme (FSCS) also covers the company, meaning your assets are protected.
Interactive Investors Security Measures:
- Funds Segregation – Interactive Investor treats the money you invest as “client money,” meaning it is deposited in a separate account to ensure that it never enters the platform’s bank account, enhancing fund protection.
- Two-Factor Authentication – To add an extra layer of security, Interactive Investor requires users to enter a code sent to their mobile device or email in addition to their password, thereby preventing unauthorized access to your account.
- Advanced Encryption – Interactive Investor uses advanced encryption algorithms to safeguard customer data, including personal information and account details. This ensures that even if hackers intercept your data, they cannot decipher it.
- Compensation – As a member of the Financial Services Compensation Scheme (FSCS), Interactive Investor provides up to £85,000 per person per institution in compensation in the event of a loss of funds due to bank failure or liquidation. This protects your investment against unforeseen events, providing added peace of mind.
Interactive Investor Fees & Charges Review
Interactive Investor works on a subscription model, so it doesn’t matter whether you’re choosing an ISA, SIPP or regular trading account; you’ll still need to choose a plan.
Unlike many investment platforms, which bolt on transaction fees, custody fees, inactivity fees, and more, ii focusses on a single, standard flat fee. That said, there are certain costs with making trades beyond what your account plan offers.
All the ii plans allow you to invest as little as £25 a month using their free regular investing service, which means you can avoid trading fees altogether.
While the monthly fee can impact the overall amount you have available to invest, at a certain threshold
|Plan||Investor Essentials||Investor||Super Investor||Pension Builder*|
|Stocks and Shares ISA||✓||✓||✓|
|SIPP||+£10 per month inc. VAT||+£10 per month inc. VAT||✓|
|Friends and Family||+£5 per month||+£5 per month||✓||+£5 per month|
|Free monthly trade***||✓ x 1||✓ x 2|
|Free regular investing||✓||✓||✓||✓|
|UK shares and funds, US shares||£5.99||£5.99||£3.99||£5.99|
|Other international shares||£19.99||£19.99||£5.99||£19.99|
|What You Get|
|Exclusive seminars and events||✓|
|Independent editorial and recommendations||✓||✓||✓||✓|
|Mobile and web access, with phone support||✓||✓||✓||✓|
|Access over 40,000 global investments||✓||✓||✓||✓|
ii Custody & Inactivity Fees
Custody fees: Interactive Investor charges custody fees only for its SIPPs and ISAs. The custody fee is £10 per year for the Investor Essentials plan, £5 per year for the Investor plan, or £2 per year for the Super Investor plan.
Inactivity fees: Interactive Investor charges inactivity fees for its SIPPs and ISAs. The inactivity fee is £10 per month if your account balance is less than £2,000 and you have not made any trades in the previous 12 months.
ii Sipp Fees
- Monthly account fee: £12.99 per month for the Pension Builder plan, or £10 per month for the Investor or Super Investor plans.
- Trading fees: £5.99 per trade for stocks and ETFs.
- Fund dealing fees: £1.50 per fund trade.
- Custody fees: £20 per year for the Pension Builder plan, or £10 per year for the Investor or Super Investor plans.
- Inactivity fees: £10 per month if your account balance is less than £2,000 and you have not made any trades in the previous 12 months.
Interactive Investor also offers a number of discounts on fees for certain types of investors. For example, students, 18-24 year olds, and over 60s can get a 50% discount on the monthly account fee.
ii ISA Fees
|Account Type||Plan||Monthly Account Fee||Trading Fee||Fund Dealing Fee||Custody Fee||Inactivity Fee|
|Stocks and Shares ISA||Investor Essentials||£4.99/month||£5.99/trade||£1.50/fund trade||£20/year||£10/month if account < £2,000 and inactive for 12 months|
|Stocks and Shares ISA||Investor||£9.99/month||£5.99/trade||£1.50/fund trade||£10/year||£10/month if account < £2,000 and inactive for 12 months|
|Stocks and Shares ISA||Super Investor||£19.99/month||£5.99/trade||£1.50/fund trade||£10/year||£10/month if account < £2,000 and inactive for 12 months|
|Junior ISA||Investor Essentials||£4.99/month||£5.99/trade||£1.50/fund trade||£0/year||No inactivity fees|
|Junior ISA||Investor||£9.99/month||£5.99/trade||£1.50/fund trade||£0/year||No inactivity fees|
|Junior ISA||Super Investor||£19.99/month||£5.99/trade||£1.50/fund trade||£0/year||No inactivity fees|
|Cash ISA||Investor Essentials||£4.99/month||No trading fees||£1.50/fund trade||£20/year||£10/month if account < £2,000 and inactive for 12 months|
|Cash ISA||Investor||£9.99/month||No trading fees||£1.50/fund trade||£10/year||£10/month if account < £2,000 and inactive for 12 months|
|Cash ISA||Super Investor||£19.99/month||No trading fees||£1.50/fund trade||£10/year||£10/month if account < £2,000 and inactive for 12 months|
Does Interactive Investor have a minimum deposit?
Interactive Investor has a relatively low minimum deposit requirement, which makes it accessible to investors with different levels of capital.
Currently, the minimum deposit required to open an account with Interactive Investor is £25, which is considerably lower than other investing platforms.
Other Trading Fees on Interactive Investor
- For UK shares, funds, bonds, gilts, and exchange-traded products with a trade value over £100,000, the fee is £40.
- For US shares with a trade value over £100,000, the fee is 0.04% of the trade value.
- For other international shares with a trade value over £25,000, the fee is 0.10% of the trade value.
Please note that international trading fees are charged in the customer’s settlement currency and multiplied by the conversion rate (if applicable), subject to the minimum and maximum charges shown. If an order is filled over multiple days, there is a separate commission charge for each day there is a fill.
Interactive Investor Foreign Exchange Fees
Interactive Investors’ foreign exchange fees are based on the transaction value and are charged using a tiered margin rate system:
- For transaction values between £0 and £24,999.99, the margin rate is 1.50%.
- For transaction values between £25,000 and £49,999.99, the margin rate is 1.25%.
- For transaction values between £50,000 and £99,999.99, the margin rate is 1.00%.
- For transaction values between £100,000 and £599,999.99, the margin rate is 0.50%.
- For transaction values of £600,000 or more, the margin rate is 0.25%.
Interactive Investors’ foreign exchange fees are based on the transaction value and charged using a tiered margin rate system. The FX rate for currency conversion is based on the bid/offer exchange rate, to which a spread of up to +/- 1.50% is applied at the time of execution.
Interactive Investor Deposits and Withdrawals
Interactive Investor allows users to deposit funds into their account using different methods, including:
- Bank Transfer – Users can deposit funds into their Interactive Investor account by transferring money from their bank account. The funds should be available in your account by the end of the next working day.
- Debit Card – Users can deposit funds instantly using their debit card. However, a fee of 1.5% of the deposit amount applies.
- Direct Debit – Users can set up a direct debit to fund their Interactive Investor account regularly. This method can take up to 5 business days to process.
Cheque – Although it is far from the easiest way to add money to your account, you can make a cheque deposit by posting it to Interactive Investor Services Ltd, 2nd floor, One Embankment, Neville Street, Leeds, LS1 4DW.
Interactive Investor only offers bank transfer withdrawal, with a timescale being the next working day if you withdraw before 2 PM.
When selling shares, you cannot withdraw the cash until after the trade has settled.
Does Interactive Investor pay interest on cash?
Interactive Investor does pay interest on cash, as follows:
- ISAs & Junior ISAs:
- Up to £10,000: 1.50% Gross
- £10,000 – £100,000: 2.5% Gross
- Over £100,000: 3.5% Gross
- Up to £10,000: 2.25% Gross
- £10,000 – £100,000: 3% Gross
- Over £100,000: 3.5% Gross
- Trading Accounts:
- Up to £10,000: 1.5% Gross
- £10,000 – £100,000: 2.5% Gross
- Over £100,000: 3.5% Gross.
Interactive Investor Platform & APP Review
The Interactive Investor app has been rated 4.4 stars out of 5 on the Apple App Store, with over 9.3K ratings, and has been downloaded over 50K times on Google Play, with 1.94K reviews.
The app is perfectly adequate for basic portfolio management, with features such as trading, orders, funding, quick quotes, newsfeed, watchlist, and market overview. It lacks the more advanced features of specialist trading apps like Etoro or IG.
The app also provides a secure Face and Touch ID login, protecting your personal information and trades.
Web Trading Platform
ii’s web trading platform is well-designed and does everything you need to manage your investments. It doesn’t have the bells and whistles of as fully-fledged trading platform such as eToro, but for managing an ISA or SIPP it’s excellent.
You can set alerts and notifications and then receive a text on your phone or by email. The search functionality works well if you’re looking for a particular ticker or company name.
The only downside here is limited customisation options for charts or the workspace itself, but it’s easy enough to do this on a third-party tool like Trading View if that’s your interest.
Interactive Investor Education: Tools and Resources Review
Interactive Investor offers a comprehensive range of educational resources to help investors of all levels enhance their knowledge and skills. These resources are designed to be accessible and easily understood, making them ideal for beginners and more experienced investors.
Knowledge Centre – The Knowledge Centre is a hub of information on a wide range of investment topics, including investing in shares, funds, and other asset classes, as well as broader topics such as retirement planning and tax-efficient investing. It includes a range of guides and tutorials and a glossary of investment terms to help investors get to grips with key concepts and terminology.
Videos and Podcasts – For those who prefer to learn at their own pace, Interactive Investor offers a range of videos and podcasts. These cover a range of investment topics and are presented by industry experts, making them a great way to stay up to date with the latest trends and developments in the investing world.
Fund Finder Series – The Fund Finder tools allow users to search for funds based on various criteria, including investment style, fund manager, and performance history. Users can also compare different funds, making it easy to see how they stack against each other.
One particularly useful feature of the Fund Finder tools is the ability to filter funds based on specific criteria, such as fees, minimum investment amount, and geographic focus. This makes it easy to find funds that meet your specific needs and investment goals.
Blog – Interactive Investor offers a range of articles and news updates to keep users informed about the latest market developments. These articles are written by a team of experienced journalists and cover various topics, from company news to macroeconomic trends.
Interactive Investor Research
One of the key strengths of Interactive Investor is its research and analysis tools, which provide valuable insights for traders looking to make informed investment decisions. These tools help investors understand market trends and identify opportunities for profitable trades.
Interactive Investor News and Analysis Service
The company’s news and analysis service is one of the most helpful research tools available to Interactive Investor users. This service provides real-time updates on market trends, economic events, and company news, allowing traders to stay up-to-date on the latest developments that may impact their investments.
The news service is backed by expert analysts who provide insightful commentary and analysis on market trends and investment opportunities.
Interactive Investor Technical Analysis
The technical analysis section of Interactive Investor’s website includes charts, indicators, and other tools that can be used to analyse market trends and identify potential trading opportunities. The charts allow users to view price movements for specific securities over different periods and to compare multiple securities on the same chart.
The indicators can help users identify key market trends, such as support and resistance levels, and provide insights into potential buy or sell signals.
One of the most useful technical analysis tools provided by Interactive Investor is the Relative Strength Index (RSI).
The RSI is a momentum oscillator that can help traders identify potential overbought or oversold conditions in the market. Traders can use the RSI to identify potential buy or sell signals and help determine a trend’s strength.
Another helpful tool Interactive Investor provides is the Moving Average Convergence Divergence (MACD) indicator. The MACD is a trend-following momentum indicator that can help traders identify potential trend reversals. It can also be used to confirm a trend’s strength and help traders identify potential buy or sell signals.
Opening an account with Interactive Investor
Opening an account with Interactive Investor is a straightforward process that can be completed entirely online. Here are the steps to follow:
- Visit Interactive Investor’s website – and click the “Sign Up” button at the top right of the homepage.
- Select an account type – Interactive Investor offers a range of accounts, including Stocks and Shares ISA, General Investment Account (GIA), Junior ISA, and Self-Invested Personal Pension (SIPP). Choose the account type that best suits your needs.
- Fill in your personal information – such as your name, date of birth, and contact details.
- Provide proof of identity and address – This can be done by uploading a copy of your passport or driver’s license and a recent utility bill or bank statement.
- Fund your account – Interactive Investor offers a range of payment options, including bank transfer, debit card, and credit card.
- Start trading
Customer Service on Interactive Investor
Interactive Investor is known for providing high-quality customer service to its clients. Here’s an assessment of the different customer service options available on the platform:
- New Customer Hub and Common Questions – Interactive Investors offers a user-friendly hub dedicated to answering the most common questions, with a dedicated space for new customers.
- Message Support – For non-urgent enquiries, you can contact Interactive Investor directly via secure message.
- Phone Support – Interactive Investor offers phone support to its clients, which can be helpful for more complex issues or for traders who prefer to speak directly with a customer service representative. Phone support is available Monday to Friday from 7:45 AM to 5:30 PM.
- Social Media – Interactive Investor is active on social media platforms like Twitter and Facebook. Traders can use these channels to ask questions or get updates on the latest news and market events.
Interactive Investor Customer Reviews
Interactive Investor has received 22,168 reviews on Trustpilot, earning an “Excellent” rating with a TrustScore of 4.7 out of 5. This reflects a very customer satisfaction and people’s positive experiences with the platform.
Positive reviews speak of Interactive Investor’s customer service representatives as being ‘helpful’, ‘patient’, ‘courteous’, and ‘professional’, guiding customers through technical difficulties and making account management easy and straightforward.
However, 7% of Trustpilot users logged one-star reviews, highlighting several negative issues. These include poor software changes, the difficult-to-use new app, slow processing, poor customer service, and a clunky new website with poor design.
Despite a few negative reviews, Interactive Investor has received an overwhelmingly positive reputation on Trustpilot, with customers endorsing its credibility, reliability, authenticity, and trustworthiness as a financial investment platform.
Awards & Recognition
- Boring Money Best Buy 2023: Best Buy ISA, Best Buy Pension, Best Buy Pensions & ISA
- Investment Platform of the Year at the Investors’ Chronicle and Financial Times Celebration of Investment Awards
- Best Low-cost SIPP at the Investors’ Chronicle and Financial Times Celebration of Investment Awards
- Which? Recommended SIPP provider 2022
- ADVFN Awards Winner 2022: Best Low-Cost Stockbroker, Best SIPP Provider, Best Stockbroker for International Dealing
Is Interactive Investor better than Hargreaves Lansdown: What are the differences?
The key difference between Interactive Investor is the way they charge and how much they charge.
Interactive Investor has a simple pricing structure with a flat fee of £9.99 per month for their Investor Plan.
On the other hand, Hargreaves Lansdown has a more complex pricing structure that varies depending on the amount invested and the types of investments made. They charge a platform fee of 0.45% per year on the value of investments up to £250,000, dropping to 0.25% on amounts above this level. HL are known for its outstanding research and educational resources, offering free guides, research reports, and educational tools like retirement calculators and portfolio planners.
In summary, Interactive Investor is more cost-effective for larger portfolios and ideal for long-term UK-based investors who value customisation, while Hargreaves Lansdown is more suitable for those with smaller portfolios who want to learn more about trading and have access to extensive research and educational resources. Ultimately, the choice between the two will depend on your individual investment goals and preferences.
Read our full article on Hargreaves Lansdown vs Interactive Investor
Interactive Investor vs eToro
These platforms are easy to compare because they are very different offerings. eToro is the one to choose if you want social or copy trading: it really excels at that. Their commission-free structure also makes it very appealing to regular traders.
Interactive Investor is the one to choose if you want to invest through a tax wrapper like an ISA or SIPP. If you’re making a handful of judicious investments each month rather than the fast-moving activity of actual trading, ii is an ideal choice.
Interactive Investor vs Fidelity
Choosing between Interactive Investor and Fidelity depends largely on the size of your portfolio and your investment strategy.
Interactive Investor’s flat fee structure tends to be more cost-effective for investors with larger portfolios. Therefore, if you have significant investment capital and you’re planning to make substantial trades regularly, Interactive Investor might be a better fit for you. Their pricing structure rewards those who trade frequently or hold larger sums, due to the flat fee not increasing as your portfolio grows.
Fidelity, however, charges based on a percentage of assets under management, making it a more affordable option for those with smaller portfolios. If you are a beginner investor or have a smaller amount to invest, Fidelity might be the more suitable platform for you. Its robust educational resources can also be very beneficial to those who are new to investing and require additional support. Additionally, Fidelity is known for its strong retirement planning services, making it an excellent choice for investors focusing on long-term retirement savings.
Interactive Investor Review: Summary
Interactive Investor is one of the UK’s largest investment platforms, with over 400,000 customers. It offers a comprehensive range of accounts, including ISAs, SIPPs, and trading accounts. The platform’s transparent flat-fee pricing model starts from £4.99/month, making it a potential cost-saving option for investors with larger portfolios.
Interactive Investor offers access to over 40,000 funds, ETFs, shares, and trusts, catering to a wide variety of investment styles. Key account types include the Stocks & Shares ISA, SIPP, Junior ISA, trading account, and company account, each with distinct tax and investment benefits.
The platform also provides a variety of tools and resources to help investors make informed decisions, such as Quick Start funds, Super 60, model portfolios, and comprehensive research and educational materials. The Interactive Investor mobile app provides convenience for basic portfolio management, although it may lack some advanced trading features.
Security is a top priority at Interactive Investor, with measures in place to protect customer assets, such as encryption, fund segregation, and two-factor authentication (2FA). Assets are also protected by the Financial Services Compensation Scheme (FSCS) up to £85,000.
Customer support is rated highly and is available through various channels, such as phone, email, social media, and an online help hub.
Interactive Investor FAQs
How much does it cost to use Interactive Investor?
Interactive Investor charges a fee of £9.99 per month for its basic service. However, the platform also offers a premium service for investors who want more features and tools. The premium service costs £19.99 per month.
What investment options are available on Interactive Investor?
Interactive Investor offers various investment options, including stocks, funds, bonds, exchange-traded funds (ETFs), and investment trusts. The platform also offers access to global markets, allowing investors to invest in companies and assets worldwide.
How user-friendly is Interactive Investor’s platform?
Interactive Investor’s platform is user-friendly, with an intuitive interface that makes it easy to navigate and use. The platform offers a range of tools and resources that can help investors make informed investment decisions, including research and analysis tools, investment news, and educational resources.
Is Interactive Investor’s platform secure?
Yes, Interactive Investor’s platform is secure, with robust security measures to protect investors’ data and assets. The platform uses two-factor authentication and encryption to ensure investors’ accounts and personal information are safe.
What customer support options does Interactive Investor offer?
Interactive Investor offers customer support via phone and email. The platform also offers a range of educational resources, including webinars and articles, to help investors learn about investing and make informed investment decisions.
Can I transfer my existing investments to Interactive Investor?
Yes, Interactive Investor allows investors to transfer their existing investments to the platform. The process is straightforward and can be done online. The platform also offers a transfer service to help investors move their investments to Interactive Investor quickly and easily.
Is Interactive Investor suitable for beginner investors?
Yes, Interactive Investor is suitable for beginner and more experienced investors. The platform offers a range of educational resources and tools that can help investors learn about investing and make informed investment decisions.
Does Interactive Investor offer tax-efficient investment options?
Yes, Interactive Investor offers tax-efficient investment options, such as Individual Savings Accounts (ISAs) and Self-Invested Personal Pensions (SIPPs). These products can help investors reduce their tax bills and increase their returns.
Can I use Interactive Investor to trade on my mobile device?
Yes, Interactive Investor offers a mobile app that allows investors to trade on the go. The app is user-friendly and offers a range of features, including real-time quotes, news and research, and trading tools.