As of my last update in September 2021, Individual Savings Accounts (ISAs) are a tax-efficient way to invest in the UK. Here's a comparison of some of the best online brokers for ISAs, considering factors such as fees, investment options, customer service, and user experience. Please note that features and rankings may have changed since then, so it's recommended to verify the current information before making any decisions.
1. Hargreaves Lansdown:
- Pros: Offers a wide range of investment options including funds, stocks, bonds, and more. Excellent research and educational resources. User-friendly platform and mobile app.
- Cons: Generally higher fees compared to some other platforms.
2. AJ Bell Youinvest:
- Pros: Provides access to a variety of investment options including funds, shares, investment trusts, and more. Competitive fees. User-friendly interface.
- Cons: Customer service might not be as comprehensive as some competitors.
3. Interactive Investor:
- Pros: Offers a variety of investment options including funds, shares, ETFs, and more. Competitive flat fee model for larger portfolios. Wide range of research tools.
- Cons: May not be cost-effective for small portfolios due to the flat fee structure.
4. Fidelity International:
- Pros: Offers a range of investment options including funds, shares, ETFs, and more. Strong research tools and educational resources. User-friendly platform.
- Cons: Fees can vary depending on the size of the portfolio.
5. Vanguard Investor:
- Pros: Known for its low-cost index funds and ETFs. Offers a simple and easy-to-understand platform. Can be cost-effective for investors focused on passive investing.
- Cons: Limited investment options compared to some other platforms.
6. IG:
- Pros: Offers a wide range of investment options including shares, indices, forex, commodities, and cryptocurrencies. Known for its trading platform and features.
- Cons: Focuses more on trading than long-term investing. CFD trading involves higher risk.
7. DEGIRO:
- Pros: Offers access to a variety of investment options including stocks, ETFs, bonds, and more. Competitive fees.
- Cons: Limited research tools and educational resources compared to some competitors.
8. Freetrade:
- Pros: Offers commission-free trading for stocks and ETFs. Simple and user-friendly app.
- Cons: Limited investment options compared to traditional brokers. Premium features require a subscription.
When comparing brokers for ISAs, consider factors such as fees, available investment options, research tools, educational resources, user experience, and customer support. It's also important to choose a platform that aligns with your investment goals and risk tolerance. Be sure to check the latest information and reviews to make an informed decision based on your individual needs.