interactive investor fees

Home / Blog / Flat fees and consolidation at Interactive Investor Flat fees and consolidation at Interactive Investor Last week was an interesting one in the direct-to-consumer (D2C) platform market with Interactive Investor hitting the headlines twice â first because it announced it was acquiring its D2C competitor, Trustnet Direct, and secondly because it announced its pricing. However, if you’re interested in a share dealer for long-term investing, Interactive Investor can be pricey. International share trades cost £19.99 each. But, you will need to link a bank account or debit or credit card to pay your monthly account fee. â Adding a SIPP is only £10 a month extra *. Annual fees with IG would total £360.00, while annual fees with Interactive Investor would be £622.92. The broker is Interactive Investor (iii) and this development means Britainâs cheapest trackers can now be bought for sums as low as £20, which previously would have been suicidal in the face of flat-rate fees. Exit fees and Interactive Investor problems: I would welcome comments on two related issues, one being specific to Interactive Investor, and the other being the general issue which this raises. We do not advise or recommend any provider but are here to allow our reader to make informed decisions and proceed at their own responsibility. It offers trading on a very wide range of shares, funds, and ETFs and gives you high-quality research from Morningstar. Interactive Investor offers trading on global markets. When it comes to fundamental analysis, however, Interactive Investor shines. Otherwise, the order interface is easy to navigate. If your friends would find this page useful, share it with them using the buttons below left (if you use the email button, ensure you tick "I'm not a robot" before you fill in the other fields). The fees take effect from 1 June. See how Interactive Brokers stacks up against Interactive Investor! BuyShares.co.uk was established in 2020 with a vision, to be the leading stock market news editorial and financial educational hub for both beginners and experienced investors. You can choose your settlement currency (note that there may be fees for settling in a currency other than pounds) and your settlement date, as well as clearly see any fees that the platform will charge for your trade. The monthly account fee is assessed regardless of whether you place any trades. This is particularly true for the Super Investor plan, which offers a steep discount on individual share trades. SIPP plans are free to open with Interactive Investor, but they come with an extra £10 per month management fee on top of your monthly plan fee. Both brokers offer trading on a wide variety of share markets, including most popular shares in the UK and US. UK Company No. 3 Trades Per Month - Barclays is less expensive under this scenario. Interactive Investor*, the investment platform recommended in our book, Your Retirement Salary, as a good all-round choice for many, has announced a change in its charging structure. You can also trade the majority of shares on the New York and Nasdaq Stock Exchanges in the US, including popular shares such as Amazon and Netflix. With this feature, investors can designate up to 25 shares, funds, or ETFs that they already own to invest in at regular intervals. The platform operates on a monthly subscription model and there are three different plans available: Investor, Funds Fan, and Super Investor. Its contents represent journalistic research and readers should ensure that any course of action they consider as a result of anything that appears on this website is appropriate to their own needs and circumstances, if necessary with the help of a financial adviser regulated by the Financial Conduct Authority. The two platforms take a very different approach to trading, so they’re best for different types of investors. The changes will take effect on June 1. An important aspect to Interactive Investor is that this broker lets you establish a standard investing account, an ISA (individual savings account), a Junior ISA, or a SIPP (self-invested personal pension) plan. If you turn on dividend reinvestment for your account, Interactive Investor also charges £0.99 per reinvestment transaction. These allow you to interact with other traders and even copy their entire portfolios, so you can essentially invest in stocks in a passive way. find out more. Since the broker is based in the UK, all investment accounts are backed by the UK’s Financial Services Compensation Scheme. Past performance is no guarantee of future results. On the whole, we recommend eToro over Interactive Investor. Buyshares.co.uk © 2020. All other commissions, including for UK shares, remain the same as for the Investor plan. There are no additional fees for administration or drawdown. This is in addition to the monthly fee for your account. We compare the top providers along with in-depth insights on their product offerings too. Interactive Investor has scrapped exit fees for The Share Centre customers after its acquisition of the rival platform completed earlier this week. Although any increase in costs is unwelcome, we believe that Interactive Investor remains good value for any investor with a medium-sized or large portfolio, say of Â£100,000 or more. We asked Lang Cat, the specialist consultancy that analysed platform pricing for us in our book, to calculate how much readers were likely to pay under Interactive’s new pricing arrangements. Interactive Investor contact number (UK): 0345 607 6001. Ive had enough of interactive investor's fees...: Hi All Ive been with interactive investor for 6 years now, was with TDWaterhouse prior but unfortunately ii bought them out. The broker also doesn’t allow you to set up a demo trading account. Registered Office: 1800 McGill College Avenue, Suite 2106, Montreal, Quebec, H3A 3J6, Canada. On the whole, Interactive Investor does a nice job with putting the tools investors need in front of them and leaving the rest up to you. The platform doesn’t currently support payment through an e-wallet. The look and feel mirrors the web interface, but the charting capabilities are even more limited and it’s hard to display tables of fundamental data in a way that’s actionable. If you’re looking for in-depth technical analysis with customizable charting, look elsewhere. Interactive Investor has made waves as a UK share dealer because it’s one of the only brokers to operate on a monthly subscription model. It’s important to note that eToro only offers standard investing accounts, not ISAs or SIPP plans. The new figure is for those who use the “high income” or “compromise” portfolios described in the book and make regular sales from their investments to top up the natural income. Do you have a question or would you like to give feedback about this website? The account fees aren’t all that high relative to trade commissions, and the commissions are significantly discounted compared to what many other well-known UK brokers charge. Michael has been a member of the LearnBonds team since March 2020. Interactive Investor currently supports nine base currencies: GBP, USD, EUR, CAD, HKD, SGD, AUD, SEK, and CHF. Plus, having the ability to open a low-cost ISA or SIPP plan is extremely helpful if you want to save for retirement. The three plan options let you tailor your subscription to the assets you trade most frequently. In addition, eToro offers more flexibility in terms of how you invest. Interactive investor scraps exit fees for all customers. 20 Trades Per Month - IG costs less in this scenario. The current change is Â£22.50 a quarter (Â£7.50 a month), although the situation is complicated by charges for other services such as trading in shares and funds. Interactive Investor scrapped exit fees in November 2018, months after the interim platform market study was published, and dropped the fees for Alliance Trust Savings investors when it bought that platform in 2019. The Funds Fan plan costs £13.99 per month and drops the commission on UK fund and ETF trades to £3.99. Since this takeover, they have messed around with All trading carries risk. Percentage vs flat-rate fees, and investing for children by Interactive Investor published on 2019-08-07T16:10:52Z Rebecca OâKeeffe, Head of Investment at ii, on why investing one hour of your time investigating how much you pay in fees could save you thousands in the long run, and Moira O'Neill, Head of Personal Finance at ii, on the dos and donâts of investing for children. It is the UK's biggest flat-fee investment platform, with £36 billion of assets under administration,[1] over 300,000 customers and more than one million users. This gives eToro is a big advantage over many run-of-the-mill share dealing platforms. Interactive Brokers' commission schedules for stocks, options, futures, futures options, SSFs, EFPs, spot currencies, metals, fixed income and Mutual Funds, as well as Trade Desk fees. However, note that there is a £0.99 fee for each reinvestment transaction no matter what account plan you have signed up for. Interactive Investor, which is in the process of taking over Alliance Trust Savings, will switch to charging monthly instead of quarterly. You can deposit money to Interactive Investor using a bank transfer, debit card, or credit card. The FCA found in July that exit fees charged by platforms including Hargreaves Lansdown and Interactive Investor, which can add up to hundreds of pounds, â¦ There are no drawing tools and you won’t be able to examine prices using a popular candlestick charting view. While this limits the functionality of some of the platform’s tools, it does make it easy for new traders to begin using the platform. The downside is that only a few news stories are published each day, and you won’t typically find straight-out recommendations for shares or funds to buy. Importantly, the trader forum is only open to account holders. Note that the content on this site should not be considered investment advice. However, while Interactive Investor is a decent platform, it doesn’t quite match up to our recommended UK broker. You cannot invest directly in these portfolios and have your holdings managed for you. Interactive Investor charges investors flat fees for its services, and is a growing rival to Hargreaves Lansdown, the market leader. Stories are written largely by Interactive Investor’s own team of analysts, so you get something of a different take on the market with this platform. Worse, the mobile app doesn’t enable you to set price alerts for shares or funds, and alerts that you set up on your desktop can’t be pushed to your smartphone. It provides financial information, as well as investment tools. IG would cost £108.00 per year while Interactive Investor would cost £287.76. The Investor plan costs £9.99 per month. Interactive Investor’s mobile trading app is good for placing trades, but not for much else. London Interactive Investor has four managed portfolios, but they are only available as examples. Barclays would cost £276.00 per year while Interactive Investor would cost £287.76. This is because while it supports traditional share ownership like Interactive Investor, it also doubles up as a CFD broker and allows you to trade stock CFDs. What Does Interactive Investor Share Dealing Offer? This pricing structure is designed to benefit active traders who place multiple trades per month. How does Interactive Investor stack up against eToro, another top share broker in the UK? interactive investor (yes, thatâs intentionally all lower case and itâs sometimes referred to as âiiâ) is an online investment service offering a range of different investment products, all with flat fees. For active traders, this subscription service can make sense – in exchange for a monthly fee, you get discounted rates for trading UK and US shares. â We give you a free trade every month, and there are no trading fees with our regular investing service. Nothing in this website constitutes personal financial advice. In addition, the interface is generally quick and responsive, and the buy and sell tools are as accessible for quick trades as in many standalone platforms. Interactive Investorâs newly completed buyout of rival consumer platform The Share Centre will âstrengthen the voiceâ for flat fees, its chief executive has said. The service â¦ The opinions expressed in this Site do not constitute investment advice and independent financial advice should be sought where appropriate. All investing involves risk: ensure that you understand the risks before you proceed. However, you can turn watchlists into tracked portfolios to see how they perform over time. Interactive Investor only offers trading on shares, funds, and ETFs. Interactive Investor carry a quarterly fee of £22.50, plus a trading fee of £10 for buying and selling (this reduces to £6 if you are doing frequent trades). 10 Trades Per Month - IG is the better choice. Interactive Investor, which is in the process of taking over Alliance Trust Savings, will switch to charging monthly instead of quarterly. While the technical analysis and charting tools could be vastly improved upon, this broker has some of the best fundamental research around. eToro also includes ETFs in its selection, but there are only around 150 and no investment trusts to trade. International share trades cost £9.99 each. Email us atÂ atÂ pensincinv@gmail.comÂ Â, *Links marked with an asterisk can earn money for this website: the company involvedÂ may pay us commission if you follow our link to its website or transact on it. AII customers will now be able to transfer cash and investments from an Isa, self-invested personal pension, trading account and junior Isa to another provider at no cost. If you are an institution, click below to learn more about our offerings for RIAs, Hedge Funds, Compliance Officers and more. Views expressed are those of the writers only. We use cookies to ensure that we give you the best experience on our website. He holds a Ph.D. in Oceanography from Oregon State University and worked with environmental non-profits across the US to bridge the gap between scientific research and coastal communities. 11705811. Often, brokerage platforms are heavy on charting and technical analysis, but light on fundamental research. When it comes to buying and selling shares or funds, you only get three order types – market, limit, or stop loss. Interactive Investor would only cost £119.80 each year while Barclays would cost £132.00. Interactive Investor Platform and Trading Tools, Research and Analysis at Interactive Investor, Interactive Investor Contact and Customer Support, Interactive Investor Review – The Verdict. Interactive Investor Fees & Commissions Pricing at Interactive Investor is unique compared to almost every other major UK broker. This website is free for you to use but we may receive commission from the companies we feature on this site. All service plans give you at least one free trade each month. Our website provides top quality insights through financial educational guides and video tutorials on how to buy shares and invest in stocks. The direct to â¦ No, Interactive Investor does not require a minimum deposit. That business has about 70,000 retail investor clients and $3 billion in assets. By continuing to use this website you agree to our privacy policy. Registered Office: 1800 McGill College Avenue, Suite 2106, Montreal, Quebec, H3A 3J6, Canada. eToro’s mobile app is also superior, as you have access to technical charts and price alerts. Long-term fundamental traders will find all of the information they need to make decisions available through Interactive Investor. The Investor plan costs £9.99 per month. This means you can short sell shares and apply leverage to make larger traders. This is particularly useful for ISA and SIPP accounts, since saving requires that you regularly transfer funds for investment in any case. Interactive Investor also charges for a variety of other account actions, although the chances that you will activate these charges are low. Email after email came in from dedicated readers horrified by the price bomb dropped on their heads by Interactive Investor (the discount broker commonly known as iii). The Super Investor plan costs £19.99 per month. Standard investing accounts, ISAs, and Junior ISAs don’t carry any extra charges and you can open any combination of these for a single monthly plan fee. eToro does charge a £4 withdrawal fee, but for the vast majority of traders it’s possible to save money with eToro over Interactive Investor. That alone doesn’t make it safe, but the company’s long list of awards and the fact that it’s been around for nearly 25 years are promising. Interactive Investor head of personal finance Moira OâNeill (pictured) said plans have been in the pipeline for months and the timing several weeks after Charles Schwab is coincidental. It will also introduce three price plans: a basic âInvestorâ service for £9.99 a month, âFunds Fanâ at £13.99 a month and âSuper Investorâ for £19.99 a month. Steven Nelson, the firm’s consulting director, said they would minimise the extra cost by choosing the “Super Investor” option, which would cost themÂ Â£544 a year, compared with Â£440 a year currently. ECR3 6HE, UK. eToro is also well-known for its innovative social and copy trading tools. Since the service is based in the UK, the platform also has a greater focus on UK shares and UK investors than some international brokers. On top of that, Interactive Investor gives account holders share and fund research from Morningstar, which in itself is quite valuable. All of the research and analysis available to traders on Interactive Investor comes from Morningstar. Notably, Interactive Investor’s popularity has also led it to become something of a hub for active traders. Compared to their current monthly cost of £7.50 a month, most Interactive customers will pay an extra £2.50 a month to use Interactive on the companyâs new âInvestorâ plan. While there are improvements we’d like to see to Interactive Investor’s platform – most notably, better technical charts and an improved mobile app – there’s a reason this broker has attracted more than 300,000 users. Interactive Investor ISA Fees From the 1st June 2019, Interactive Investor moved from a quarterly charge of £22.50 to a monthly flat fee pricing model, with three service plans to choose from. Interactive Investor charges a monthly subscription and commissions on every trade, while eToro is 100% commission-free. Interactive Isa/dealing account: £100 Interactive Sipp: £220 Hargreaves Landown Isa/dealing account: £172 Hargreaves Lansdown Sipp: £172 When are Interactive's fees changing? It’s worth highlighting that this is a very different balance than most brokers strike. That said, Interactive Investor doesn’t sponsor any of its own funds like some large investment banks with retail accounts do. 10 Trades Per Month - Interactive Investor is â¦ The broker provides extremely detailed tables of financial data, including full income statements for all individual companies you can trade through the platform. With this plan, UK share, fund, and ETF trades cost £3.99 while US share trades cost £4.99 each. Email us atÂ atÂ. The platform operates on a monthly subscription model and there are three different plans available: Investor, Funds Fan, and Super Investor. Interactive Investor trading fees are average. II to benefit This does not have any effect on what we write.Â. Seven funds from the . Reply from interactive investor Thanks Edward for your 5* feedback to Ricardo - wonderful to hear you were provided a world class service! Interactive Investor charges £120 a year compared to just £60 at The Share Centre for a basic Isa account before dealing charges 300,000 investors could see fees double as â¦ We compare the top providers along with in-depth insights on their product offerings. This makes the Interactive Investor forum one of the best places you can go for discussing specific shares or funds, asking other traders for advice, or gauging market sentiment. £9.99 a month covers you for multiple accounts ( open a SIPP and pay no SIPP fee for six months - then only £10 a month extra). Interactive Investor is a UK share broker launched in 1995. In a lot of ways, this defeats the main purpose of having a mobile trading app in the first place – being able to take advantage of short-term price dips while on the go. We don’t think it is worth readers switching to another platform in search of lower fees as the savings are likely to be modest, switching involves inconvenience and possible delays and Interactive remains a good-quality platform in our opinion. Most importantly, there are no charges for deposits or withdrawals, and there is no inactivity fee if you go several months without placing a trade. Yes, Interactive Investor charges £10 per month to manage a SIPP plan. For technical analysis, it’s well worth looking for another platform. Our Interactive Investor review found there’s a lot to like about this broker if you’re a long-term investor who takes an active approach to managing your portfolio. Interactive Investor has over 300,000 account holders, and many of them are quite active on the platform’s forum. Apologies for the hold, you should have been able to hear the tinkling of a piano, could be the line was muted as opposed to hold so I will feed this back. Michael’s science journalism has been featured in high-profile online publications such as Salon and Pacific Standard as well as numerous print magazines over the course of his six-year career as a writer. Interactive Investor set to scrap exit fees ahead of FCA. 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