Several UK investment platforms, including Freetrade, IG, Interactive Investor and Hargreaves Lansdown, have changed their fee structures in 2026. The changes come ahead of a Government push to encourage more Britons to invest.
The increased competition is expected to reduce costs for investors. Platforms are competing for business across stocks and shares Isas, self-invested personal pensions (Sipps) and general investment accounts.
Investors are urged to consider administration charges, dealing fees and the types of investments available when selecting a platform. Customer service is also a factor. Apps like Trading 212 and Prosper have zero account fees, but platforms such as Hargreaves Lansdown and Interactive Investor provide more sophisticated analysis and support.
Platform fee changes
Hargreaves Lansdown has introduced a fee of £1.95 for fund dealing, which was previously free. The platform reduced its headline account fee to 0.35 percent. It also increased the account fee cap for holding shares, trusts and exchange-traded funds (ETFs) in an Isa to £150 from £45. The platform introduced a 0.35 percent fee for holding these assets in a general investment account, also capped at £150. Hargreaves Lansdown charges £6.95 for share dealing and offers free regular investing and free dividend reinvestment. It provides customer service six days a week and a Wealth Shortlist for picking investments. The platform has negotiated reduced annual management charges from fund managers.
Interactive Investor overhauled its pricing in February 2026. It charges a flat subscription fee starting at £5.99 a month on its Core plan for portfolios under £100,000. For portfolios above that amount, the Plus plan costs £14.99 a month. The Plus plan includes a free monthly trade. Fund dealing costs £3.99 on the Core plan and £1.49 on the Plus plan. Standard share dealing is £3.99, while regular investing is free. Dividend reinvestment costs £0.99.
Freetrade has eliminated account fees for its basic service. Users can pay subscriptions to access better rates, higher interest on uninvested cash and lower foreign exchange fees. The platform offers fee-free dealing across shares, funds, investment trusts and ETFs. It provides access to more than 1,000 investment funds.
IG does not charge an administration fee for standard accounts, but levies a £210 annual charge for Sipps. Dealing is free, and the foreign exchange fee is 0.7 percent.
Low cost providers
AJ Bell charges an administration fee of 0.25 percent. The fee is capped at £3.50 a month for shares, trusts and ETFs. Sipp accounts are capped at £10 a quarter. The account charge for funds steps down to 0.1 percent for amounts between £250,000 and £500,000, with no charge above that level. Fund dealing costs £1.50, and standard share dealing is £5. AJ Bell has removed fees for regular investing, but charges £1.50 for dividend reinvestment. It offers more than 4,000 funds and 3,500 ETFs and has lower foreign exchange fees than some competitors.
Bestinvest has cut its account fee to 0.2 percent for ready-made investments. For portfolios up to £250,000, the annual charge is 0.40 percent. This steps down to 0.2 percent between £250,000 and £500,000, and 0.1 percent up to £1 million, with no charge above that. Sipp accounts have a minimum service fee of £10 a month. Fund dealing is free, while share dealing costs £4.95. Regular investing is free for funds, and dividend reinvestment is free for income funds. The platform offers free financial coaching sessions and reduced fees for US shares.
Charles Stanley Direct charges a 0.3 percent account fee. The minimum platform charge is £60 and the maximum is £600. The platform gives investors £100 in trading credits a year, paid as £50 every six months. Fund dealing costs £4, while share dealing is £10. There are no charges when investing in the platform's multi-asset funds. A £100 fee applies to Sipp accounts worth less than £30,000. It offers 15-minute financial coaching sessions.
Free dealing platforms
Etoro introduced commission-free stock investing in 2019 following volatility during the coronavirus pandemic. It offers free administration for stocks, investment trusts and ETFs. It has social trading features and a community of more than 30 million users. The foreign exchange fee is 0.75 percent. Etoro provides a stocks and shares Isa in partnership with Moneyfarm, but does not offer a Sipp. It also offers cryptocurrency and contract for difference (CFD) trading. Sixty-one percent of its CFD customers lose money.
Trading 212 offers free dealing and no account fees for stocks, investment trusts and ETFs across the UK, US and Europe. It launched a Sipp in 2026. The platform allows users to build investment pies to quickly rebalance portfolios and set up auto-investing. Dividend reinvestment is free. Seventy-five percent of investor accounts lose money trading CFDs on Trading 212.
InvestEngine focuses exclusively on ETFs and has no account fees. It has improved its Sipp by accepting transfers from more than 20 providers. Previously, it only accepted transfers from Hargreaves Lansdown and Vanguard. The platform's managed options, which cost 0.25 percent, have been unavailable for a long time.
Prosper launched in 2022 and has no account or dealing fees. It refunds underlying fees on around 30 exchange-traded funds and regular funds. It offers active Open-Ended Investment Companies (OEICs) such as Fundsmith Equity. The app includes a cash savings platform with boosted rates.
Major market players
Fidelity applies a single account fee to the total value of investments up to £1 million. The charge is 0.35 percent between £25,000 and £250,000, and 0.2 percent up to £1 million. There is no charge above £1 million, but the 0.2 percent fee remains on the first £1 million. Investors with less than £25,000 pay £7.50 a month, or 0.35 percent if they set up a regular savings plan. Fund dealing is free. Dealing for shares, trusts and ETFs costs £7.50, and service fees for these assets are capped at £7.50 a month. Regular investing costs £1.50 for shares, trusts and ETFs, and dividend reinvestment is £1.50.
Scottish Widows Share Dealing, formerly known as iWeb, is owned by Lloyds Banking Group. It has no account fees and does not charge commission on international trades. UK share and fund trades cost £5 each. Dividend reinvestment costs 2 percent, up to a maximum of £5.
Vanguard offers its own products, including passive funds, active funds and LifeStrategy funds. It charges an administration fee of 0.15 percent, capped at £375 a year. Following fee changes, investors with pots below £32,000 must pay £4 a month. Fund and Vanguard ETF dealing is free, as is regular investing.
Tax efficient accounts
Investors have a £20,000 annual Isa allowance. Money in stocks and shares Isas, cash Isas and Lifetime Isas grows tax-free. The allowance does not carry over into the new tax year.
Sipps provide tax relief on contributions up to the annual pension allowance. The allowance is the lower of £60,000 or 100 percent of earnings. Money in a Sipp cannot be accessed until the minimum pension age, which is currently 55 and will rise to 57 in 2028. Withdrawals beyond a 25 percent tax-free allowance are subject to income tax.
Investments held in a general investment account are subject to tax. Capital gains tax (CGT) rates on shares, funds and investment trusts are 18 percent for basic rate taxpayers and 24 percent for higher rate taxpayers. These rates apply to assets sold from 30 October 2024. Before that date, the rates were 10 percent and 20 percent. Investors have a £3,000 annual CGT allowance.
Dividend tax rates increased for the 2026 to 2027 tax year. Basic rate taxpayers pay 10.75 percent, higher rate taxpayers pay 35.75 percent and additional rate taxpayers pay 39.35 percent. The dividend allowance is £500. Income tax applies to interest payments from bonds and gilts. Personal savings allowances let people earn interest tax-free up to £1,000 for basic rate taxpayers, £500 for higher rate taxpayers and zero for additional rate taxpayers.
