The world of investing can feel a bit overwhelming at first. Stocks, bonds, ETFs… it’s enough to make your head spin faster than a dodgy cryptocurrency. Frankly, it’s no wonder that, until recently, investing has been a privilege only for the wealthy. Thankfully, the digital age that brought us the almighty smartphone has bestowed upon us yet another gift: retail investment apps.
These nifty little tools can turn even the most investment-phobic among us into savvy market mavens. With a few taps on your smartphone, you can build a diversified portfolio, track your investments, and even get tips from seasoned pros. Indeed, investment apps in the UK have become indispensable tools for investors, primarily because they simplify investing in stocks, shares, and ISAs.
But with so many investment apps vying for your attention, how do you choose the right one? Fear not, dear reader, for I have embarked on a quest to uncover the best investment apps in the UK. So grab a cup of tea, settle in, and let me guide you through this wondrous world of digital investing. Your future financial freedom awaits!
Quick List of the Best Investment Apps in The UK
- Chip – Saving with the help of AI
- Moneybox – Good for automatic investments
- AJ Bell – Reliable stock investing app
- Wombat – Solid choice for beginners
- interactive investor – Best for ISAs
- Freetrade – Good introduction to investing apps
- Nutmeg – A well-known robo-advisor
- Moneyfarm – For those who prefer a more personalised approach to investing
- eToro – The “social investing” app
- Wealthify – Affordable fees for small investments
Updates as of June 20th
- Trading 212 was removed due to its focus on trading.
- Hargreaves Lansdown was removed due to it being more suited to experienced investors.
- Chip and Wombat were added.
Disclosure
To create this list, I had to download each one of those apps and test them personally through my accounts. This article is an effort to provide you with an unbiased review of the best investment apps in the UK and I maintain no affiliated partnerships with the brands presented.
Best Stocks, ETFs and ISA Investment Apps Comparison
| App | Costs | ISA | Instruments | Description | Rating |
|---|---|---|---|---|---|
| Chip | Free or £1-£3 per month (ChipAI) | Yes | Automatic Savings | Savings | ⭐⭐⭐☆☆ |
| Moneybox | £1 per month + 0.45% Annual Fee, up to 0.58% Investment Fund Fees | Yes | Stocks, Funds, ETFs | Overall | ⭐⭐⭐⭐☆ |
| Wombat | £1 per month + 0.10% Account Management Fee, 0.07% to 0.75% Investment Fund Fees | No | Stocks, ETFs | Beginner investing app | ⭐⭐⭐⭐☆ |
| AJ Bell | 0.15% Account Management Fee, 0.31% to 0.45% Investment Fund Fees | Yes | Stocks, ETFs, CFDs, Investment Trusts | Stock Investing App | ⭐⭐⭐⭐⭐ |
| Interactive Investor | £9.99 per month, £7.99 per trade | Yes | ETFs, Stocks, Funds, Investment Trusts | ISA Investing app | ⭐⭐⭐⭐☆ |
| Freetrade | £5.99 to £11.99 per month, included in the monthly fee | Yes | Stocks, ETFs, Investment Trusts | Free investing app | ⭐⭐⭐☆☆ |
| Nutmeg | 0.25% to 0.75% Account Management Fee, 0.21% to 0.36% Investment Fund Fees | Yes | Managed Portfolios | Robo Advisor | ⭐⭐⭐☆☆ |
| Moneyfarm | 0.35% to 0.75% Account Management Fee, 0.10% to 0.20% Investment Fund Fees | Yes | Managed Portfolios | Long Term Investors | ⭐⭐⭐⭐☆ |
| eToro | Commission Free (pay-as-you-go fees apply) | No | CFDs, Stocks, ETFs, Commodities, Forex, Crypto | Low-cost trading app | ⭐⭐⭐⭐☆ |
| Wealthify | 0.60% Account Management Fee, 0.16% to 0.70% Investment Fund Fees | Yes | Fully Managed Portfolios | Junior ISA App | ⭐⭐⭐☆☆ |
Remember, the best investment app for you is one that aligns with your investment goals. You can also consider an investment platform instead that can offer more functionality and investing options or a robo-advisor. It’s always a good idea to do your research and compare several apps before making your choice.
Top Investment Apps in the UK
Chip – Saving with the help of AI
- Platform Name: Chip
- Fees: Free or £1-£3 per month (ChipAI)
- ISA Accounts: Yes
- Minimum Deposit: No minimum
- Rating: ⭐⭐⭐☆☆
Why We Picked Chip
Chip wants you to become a better saver. To encourage you to set some money aside, the user-friendly Chip app provides three FSCS-insured savings accounts, each with different rewards depending on your preferences. Once you download the Chip app and link a bank account, you can choose to save your money in a high-yielding Instant Access Account, a tax-advantaged ISA, or a unique “Prize Savings Account” that uses a raffle-based system to reward users with cash or prizes.
As for investing, you can use the Chip app to put money into financial vehicles like the FTSE 100 Index and an S&P 500 Tech Fund. If you opt for the paid ChipX platform, you’ll also have access to many other funds, including Blackrock’s Emerging Markets Fund and Invesco’s Crypto Companies Fund.
Another noteworthy feature to know about Chip is its proprietary “autosave” feature. This AI-powered software automatically scans your spending habits and pulls money from your bank account whenever it notices saving opportunities. So, if you struggle to set money aside, autosave makes this process painless.
Chip Fees
While it’s free to download and use the Chip app, you’ll only get access to the FTSE 100 and S&P 500 Tech Fund as a free member, and you have to pay fees for every autosave deposit (45p per save and 25p for recurring saves). Also, free Chip app users pay a platform fee of 0.25% to make their investments.
If you want to avoid these extra fees and get access to more investment vehicles, you can upgrade to the paid ChipX app. Chip now offers this premium service for £65.05 per year or £5.99 per month.
About Chip
Chip is a digital savings and investment app launched in 2017, initially funded through crowdfunding. Although it is not a bank, Chip is fully regulated by the Financial Conduct Authority (FCA) and boasts around half a million active accounts. The app links to users’ main bank accounts through open banking technology, providing seamless integration for managing finances.
Chip offers three types of savings accounts: an instant access account, a cash ISA, and a Prize Savings Account, which includes a monthly draw for cash prizes or luxury experiences. Additionally, the app provides investment accounts, including a General Investment Account (GIA) and a Stocks and Shares ISA for ChipX members.
| ✔ Pros | ✖ Cons |
|---|---|
| Multiple savings and investment choices: Chip users can choose between three savings account options depending on the kind of rewards they want and tax implications. Chip also has roughly a dozen investment plans ranging from ultra-conservative to aggressive strategies in fields like technology, healthcare, and precious metals. | Autosave fees add up: If you’re on the Chip free plan, you have to count your expenses each month as autosaves will cost extra per transfer. These pesky fees can sneakily build up over time and overtake potential profits. |
| Unique autosave feature: Chip’s autosave may be your knight in shining armour if you struggle to set aside money in your savings account. This distinctive feature uses the latest advances in AI to automatically pull funds you could do without and start earning some interest. | Platform fee for free members: Anyone using Chip’s free features has to factor in a platform fee of 0.25% if they want to get involved with investing. Again, these extra costs could dampen the profitability of your investments. |
| FSCS-insured: The Chip app has a long track record and a sterling reputation for security. Thanks to FSCS insurance, you can feel safe knowing that up to £85,000 is covered. | Free accounts don’t get all funds: Although Chip has a diverse range of funds in its catalogue, only ChipX members can choose from the full range of options. Free Chip members can only put their money into index funds for the FTSE 100 or the S&P 500 Tech Sector. |
Chip TrustPilot Reviews
The Chip app has received mixed reviews on TrustPilot, maintaining a TrustScore of 4.3 out of 5 from over 2,120 reviews. Many users praise the app for its ease of use, flexible savings options, and efficient customer service. Positive feedback highlights the speed of transactions, especially with cash ISAs and instant access savings accounts, as well as the helpfulness of the support team in resolving issues such as forgotten PINs and providing prompt responses to email queries.
However, there are significant concerns raised by some users regarding the customer service, particularly when dealing with account reconnection issues and transferring ISAs. Complaints include difficulties in reaching support, slow responses, and unresolved technical problems, which have led some users to consider contacting the Financial Ombudsman. Despite these issues, the app is appreciated for its functionality and features when everything works smoothly.
Try Chip
The Chip app offers a convenient and user-friendly solution for managing savings and investments, making it an attractive option for both beginners and seasoned savers. Its standout features include multiple savings accounts, the innovative autosave function powered by AI, and a variety of investment options, all backed by FSCS protection.
Moneybox – Good for automatic investments
- Platform Name: Moneybox
- Fees: £1 per month, 0.45% Annual Fee
- ISA Accounts: Yes
- Rating: ⭐⭐⭐⭐☆
Why We Picked Moneybox
I chose Moneybox because it stands out as a user-friendly, straightforward investment option that is perfect for beginners. Its unique round-up feature, which allows users to save and invest spare change from everyday purchases, makes it incredibly easy to start investing with minimal effort.
The app’s clean, intuitive design ensures that even those new to investing can figure it out with ease. Additionally, Moneybox offers several account types, including ISAs, SIPPs, LISAs, and JISAs, catering to various financial needs and goals. While it may not be the cheapest option for larger portfolios, its accessibility and simplicity make it an excellent choice for those looking to dip their toes into the world of investing.
About Moneybox
Launched in 2016, Moneybox offers a range of financial products, including ISAs, SIPPs, LISAs, and JISAs, with over 1 million users across the UK. It aims to help people reach their financial goals with confidence, regardless of their starting point. The app is highly user-friendly, integrating features like round-ups and a time machine for ISAs, which add unique elements to its offerings.
| ✔ Pros | ✖ Cons |
|---|---|
| Round-up feature: Automates saving and investing, making it effortless to grow your wealth. | Limited investment options: Might not satisfy experienced investors seeking a wider range. |
| User-friendly interface: Simple and intuitive, even for those new to investing. | High fees for low balances: The fee structure might not be ideal for those starting with a small amount. |
| Range of account options: Offers ISAs, SIPPs, LISAs, and JISAs to suit different needs. | |
| Security and regulation: Regulated by the Financial Conduct Authority (FCA) and employs bank-level security measures. |
Moneybox Fees
The platform charges a monthly subscription fee of £1, which is waived for the first three months. On top of that, there’s a platform fee of 0.45% and investment fees ranging from 0.12% to 0.58%. For SIPPs, the platform fee reduces to 0.15% for amounts over £100k, but there is no monthly subscription fee.
Moneybox Reviews
Moneybox enjoys generally positive reviews, praised for its ease of use and straightforward setup. However, some users have expressed dissatisfaction with the limited investment options and higher fees, particularly for smaller portfolios.
Try Moneybox
Overall, Moneybox provides a unique and accessible investment experience, making it ideal for beginner investors who want to build their portfolios over time.
AJ Bell – Reliable stock investing app
- Platform Name: AJ Bell
- Fees: £9.95 flat fee per trade
- ISA Accounts: Yes
- Rating: ⭐⭐⭐⭐⭐
Why We Picked AJ Bell
AJ Bell is a great all-rounder for investors of all levels, offering a solid and dependable service at a reasonable price. The platform is packed with good information, making it suitable for both novice and experienced investors. AJ Bell’s commitment to ease of use and good value, along with its comprehensive support and guidance, ensures that users can make confident investment decisions.
Additionally, AJ Bell’s competitive costs, especially for larger portfolios, and the absence of platform fees above £500,000 make it a highly attractive choice for those looking to build and manage their investments effectively. Another tremendous help for beginner investors of the most novice level is AJ Bell’s Dodl, which has an even more convenient user interface.
AJ Bell is regulated by the Financial Conduct Authority (FCA), ensuring that all the legal customers’ fairness and security standards are observed. The group is also a member of the Financial Services Compensation Scheme (FSCS), which offers protection to the investment and cash made by the clients.
AJ Bell Fees
The fees at AJ Bell are competitive, especially for larger portfolios. The fund custody charge is 0.25%, and there’s a £1.50 charge for buying and selling funds. Holding shares, ETFs, and investment trusts also costs 0.25%, with a cap of £3.50 per month for ISAs and LISAs, and £10 per month for SIPPs. The shares dealing charge is £5.00, dropping to £3.50 if you make 10 or more deals in the previous month.
About AJ Bell
Founded in 1995, AJ Bell is one of the UK’s largest investment platforms, managing over £76 billion in assets and serving nearly half a million customers. Publicly listed on the London Stock Exchange and part of the FTSE 250 index, AJ Bell’s mission is to help people invest with ease and confidence. They offer a wide selection of investment products and provide excellent value.
| ✔ Pros | ✖ Cons |
|---|---|
| Wide range of investments: From stocks and shares to funds and ETFs, AJ Bell has it all. | Flat fee for trades: Might not be ideal for frequent traders. |
| Excellent research and analysis tools: Helps you make informed investment decisions. | Potentially complex for beginners: The full platform might be overwhelming for those just starting out. |
| Value on larger portfolios: The fee structure becomes increasingly competitive as your portfolio grows. | |
| Dodl for beginners: A simplified platform that’s perfect for newcomers. |
AJ Bell TrustPilot Reviews
AJ Bell is highly rated by its customers, with many praising the platform’s ease of use, and competitive fees. However, some users have noted that the user experience could be smoother and that the security measures are a bit cumbersome.
Try AJ Bell
The complexity of AJ Bell is too much for a beginner to wrap their head around, though it might be a great platform for experienced investors. The only thing AJ Bell Youinvest does seem to be well-known for is the complete, wide investment services that the platform offers. In the meantime, the user experience will depend, in a very broad sense, on your level of experience.
Wombat – Solid choice for beginners
- Platform Name: Wombat
- Fees: £1 per month + 0.10% Account Management Fee, 0.07% to 0.75% Investment Fund Fees
- ISA Accounts: No
- Rating: ⭐⭐⭐⭐☆
Why We Picked Wombat
Wombat is a user-friendly investment app designed with simplicity in mind. It’s perfect for those who want to invest in themes they are passionate about. With an intuitive interface and easy navigation, it’s a great choice for less confident investors.
The inclusion of fractional shares is also a nice touch for beginner investors, who can own portions of high-value stocks without needing a significant initial outlay. Also, I’m particularly fond of the “Auto Invest” and “Round Ups” features, which simplify regular investing and make it effortless to grow my portfolio. While the investment options might be limited compared to some competitors, they should be more than enough for inexperienced investors.
About Wombat
Wombat Invest is a relatively new player in the UK investment scene, but it has quickly gained popularity thanks to its user-friendly app and focus on thematic investing. It allows users to pick investments based on themes they are interested in. The app is easy to use, with a clean interface and straightforward account setup, making it accessible for beginners.
| ✔ Pros | ✖ Cons |
|---|---|
| User-friendly app: Makes investing a breeze for beginners and those who prefer simplicity. | Limited investment options: Might not be enough for seasoned investors seeking a wider range. |
| Thematic investing: Allows you to invest in themes that align with your interests and values. | Potential tech bias: Some funds and shares available may lean towards the tech sector. |
| Fractional shares: Makes high-priced stocks accessible to everyone. | Standard plan fees: Includes a monthly subscription fee and a platform fee. |
| No trading fees: Saves you money on transaction costs. | |
| Instant plan: Offers immediate trade execution and cashback for US stocks in a GIA. |
Wombat Fees
For standard accounts, Wombat charges a £1 monthly subscription fee and a 0.1% platform fee. On a portfolio of £1,000, this translates to around £13 per year, plus additional investment costs which can range from 70p to £7.50 annually, depending on the selected investments.
Recently, Wombat introduced the ‘Instant’ plan, which enables trades to go to market immediately. This plan is currently free but is limited to US stocks within a General Investment Account (GIA). Additionally, the plan offers a 0.2% cashback on buy trades, effectively providing £2 back for every £1,000 of stock traded. However, UK shares and funds in an ISA are only available under the standard account.
Wombat TrustPilot Reviews
Wombat has received mixed reviews on TrustPilot. Users appreciate the app’s ease of use and the thematic investing options. However, some have noted the limited number of shares available and the lack of standout features compared to more established providers.
Try Wombat
Overall, Wombat offers a clean, straightforward, and cost-effective investing experience that caters well to less confident investors and those who appreciate thematic investment options.
interactive investor – Best for ISAs
- Platform Name: Interactive Investor
- Fees: £9.99 per month, £7.99 per trade
- ISA Accounts: Yes
- Rating: ⭐⭐⭐⭐☆
Why We Picked Interactive Investor
interactive investor (ii) is an excellent choice for confident investors or those looking to enhance their investing skills. Now part of the larger FTSE 100 abrdn, ii has revamped its pricing to be more competitive for smaller accounts and pensions. The app is user-friendly and combines extensive research with powerful trading capabilities, making it a strong contender for experienced investors.
interactive investor because it offers a subscription-based investment platform that combines competitive pricing. The platform’s ease of use, combined with its extensive research and trading capabilities, makes it a strong choice for those who are confident investors or those who want to learn more about investing.
The presence of comprehensive content and support ensures that users can make informed decisions. Additionally, the fixed fees provide a cost-effective solution for larger portfolios, making it an attractive option for serious investors looking for both value and variety.
Interactive Investor ensures client funds are kept safe in segregated accounts, separate from the company’s funds. In case of insolvency, the platform is covered by the UK’s Financial Services Compensation Scheme (FSCS), which offers compensation to eligible investors.
Interactive Investor Fees
interactive investor operates on a subscription-based model, with fixed monthly fees that vary depending on the chosen plan. The Investor Essentials plan costs £4.99 per month, while the Investor plan is £11.99 per month, and the Super Investor plan is £19.99 per month. The Pension Essentials plan is £5.99 per month, and the Pension Builder plan is £12.99 per month. Trading fees for UK shares, funds, and investment trusts start at £3.99 per trade.
About Interactive Investor
Founded in 1995 and based in Manchester, interactive investor is one of the UK’s largest investment platforms, with over 400,000 customers and more than £50 billion in assets under administration. It was acquired by abrdn in May 2022, further solidifying its position in the market. Interactive investor is known for its transparent fees and vast range of investment options, aligning with its mission to make investing simple and accessible.
| ✔ Pros | ✖ Cons |
|---|---|
| Wide range of investment options: A veritable buffet of investment choices for the discerning investor. | Monthly fee: Could be a dealbreaker for those with smaller portfolios. |
| Powerful research and analysis tools: Your financial compass, guiding you towards informed decisions. | Additional trading costs: Fees apply for trades beyond the included monthly allowance. |
| Transparent fees: No hidden surprises, just straightforward pricing. | Potentially overwhelming for beginners: The sheer number of features and options might be a bit much for newbies. |
| FCA regulated and FSCS protected: Your investments are safe and sound. |
interactive investor TrustPilot Reviews
interactive investor receives high marks for its comprehensive service and competitive pricing, especially for larger portfolios. Customers appreciate the options and research tools. However, some find the platform a bit overwhelming, especially for less experienced investors.
Try Interactive Investor
If you have more than £30,000 to invest and are comfortable navigating a comprehensive investment platform, interactive investor could be a great fit. Its fixed fees and extensive investment options make it a cost-effective choice for larger portfolios. However, beginners might find the platform’s extensive features and research tools a bit daunting.
Interactive Investor provides a versatile platform with a broad range of investment options and advanced tools, ideal for diversifying portfolios and informed trading, secured by FSCS and structured with a clear flat fee system, making it appealing for both new and experienced investors.
Freetrade – Good introduction to investing apps
- Platform Name: Freetrade
- Fees: Free or £9.99 per month (Standard/Plus)
- ISA Accounts: Yes
- Rating: ⭐⭐⭐☆☆
Why We Picked Freetrade
The first thing that drew me to Freetrade was its intuitive and visually appealing app. The Discover page is particularly useful for grouping popular shares and sectors for easy research and access. This design makes it straightforward to track and manage my investments on the go, which is essential for my busy schedule.
One of the biggest advantages of Freetrade is its commission-free trading. This feature allows me to buy and sell shares and ETFs without incurring additional costs, making it a cost-effective solution for my trading activities. The absence of trading fees is especially beneficial for active traders like myself, who engage in frequent transactions.
Another thing that caught my eye was the app — it’s so user-friendly, it’s like it was designed by someone who actually understands how normal people think (shocking, I know!). The “Discover” page is like a curated playlist of investment ideas, making it easy to find interesting stocks and sectors without getting lost in a sea of financial jargon.
Freetrade in the UK is authorised and regulated by the Financial Conduct Authority (FCA) and is, therefore, a member of the Financial Services Compensation Scheme (FSCS). This includes users’ funds protection of up to £85,000.
Freetrade Fees
The pricing plans available on Freetrade are another reason I chose this platform. The Basic plan is free, providing access to a General Investment Account (GIA) without any monthly charges. For more advanced features, the Standard plan at £5.99 per month and the Plus plan at £11.99 per month offer enhanced benefits such as interest on uninvested cash and priority customer service.
- Basic: Free (GIA only)
- Standard: £5.99/month (ISA, GIA)
- Plus: £11.99/month (ISA, SIPP, GIA)
There are no trading fees, but foreign exchange (FX) fees apply to international trades. The FX fee is 0.99% for Basic, 0.59% for Standard, and 0.39% for Plus accounts.
About Freetrade
Founded in 2015 by Adam Dodds and Davide Fioranelli, Freetrade is a privately owned startup with a mission to make investing simpler and more affordable. With over 1.4 million customers, it offers a digital-only app with a broad range of investment choices, including UK and international shares, ETFs, and investment trusts. However, traditional funds are not available on the platform.
| ✔ Pros | ✖ Cons |
|---|---|
| No commission fees: Trade shares and ETFs without incurring additional costs, making it a cost-effective option for both beginners and frequent traders. | Limited investment options: Offers fewer investment choices compared to some other platforms. |
| User-friendly interface: Intuitive and visually appealing app with a “Discover” page for easy research and access to popular shares and sectors. | Monthly fee for premium features: The free basic plan has limited features, and upgrading to a paid plan incurs a monthly fee. |
| Flexible pricing plans: Choose from a free basic plan or paid plans with enhanced features like interest on uninvested cash and priority customer service. | Customer service and educational resources could be improved: Some users have reported issues with customer support and a lack of in-depth educational materials. |
| Socially responsible investing options: Invest in companies aligned with your values. | |
| Real-time market data and tools: Access essential information and analysis to make informed decisions. |
Freetrade TrustPilot Reviews
Freetrade receives positive feedback for its easy-to-use app and visually appealing interface. The Discover page, which groups popular shares and sectors, is particularly appreciated. However, some users have noted that the platform can be pricey for smaller portfolios and that customer service and educational resources could be improved.
Try Freetrade
Freetrade comes as a much simpler offer of low-cost trading than other investing apps, but with a real focus on simplicity. It should be great for those starting out investing. The socially responsible investment choices and the interesting commission-free promise. The potential users will have to factor in the low variety of investment options and cost that comes with using the premium features in their decision if Freetrade is the platform meant for them.
Nutmeg – A well-known robo-advisor
- Platform Name: Nutmeg
- Fees: 0.25%-0.75% Management Fee
- ISA Accounts: Yes
- Rating: ⭐⭐⭐☆☆
Why We Picked Nutmeg
Nutmeg is the UK’s first and the best-known robo-advisor. Regarded as the leading, most trusted robo-advisor in the country, it makes the investment process accessible to everyone. Nutmeg offers optimal risk rates for favourable returns and serves cautious, moderate, and aggressive investors alike. This UK-based app allows everyone, from first-timers to professionals, to invest by providing adaptive portfolios that respond to market conditions.
What I particularly like about Nutmeg is its “set it and forget it” approach. It’s perfect for those of us who are time-poor or simply prefer not to tinker with our investments on a daily basis. You simply choose your risk level, and Nutmeg’s clever algorithm does the rest, building and managing a diversified portfolio that aligns with your goals.
But it’s not just about convenience. Nutmeg is also a champion of ethical investing, offering socially responsible portfolios that let you invest in companies that are making a positive impact on the world. It’s like having your cake and eating it too — growing your wealth while supporting causes you care about.
Furthermore, Nutmeg is regulated and authorised by the Financial Conduct Authority (FCA) and is additionally covered by the Financial Services Compensation Scheme (FSCS), safeguarding investments up to £85,000.
Nutmeg Fees
- Management Fees: Nutmeg charges management fees ranging from 0.25% to 0.75% based on the service level and investment amount.
- Additional Costs: ETF charges average around 0.19%. Exit fees are non-existent, making it financially transparent and predictable.
About Nutmeg
| ✔ Pros | ✖ Cons |
|---|---|
| Low entry threshold: Start investing with just £100. | Higher fees for smaller investments: The percentage-based fee structure may be less appealing for those starting with smaller amounts. |
| Automated portfolio management: Set your risk level and let Nutmeg do the rest. | Limited customization: Portfolios are tailored to risk level, with limited options for further personalization. |
| FCA regulated and FSCS covered: Your investments are protected up to £85,000. | |
| User-friendly interface: Easy to navigate and understand, even for beginners. | |
| Ethical investing options: Invest in socially responsible portfolios. |
Try Nutmeg
As an ethical investor who appreciates a hands-off approach, Nutmeg is presented as an easy to use platform suitable for those beginning their investments without the complexity of traditional options. Its transparent fee structure and the security of being regulated by the FCA make it a trustworthy choice. However, it might not appeal as much to those seeking a highly customisable investment experience or to those investing small amounts who may find the fees higher. Nutmeg’s simplicity, security, and commitment to making investing easy and accessible for everyone are its standout features.
Moneyfarm – For those who prefer a more personalised approach to investing
- Platform Name: Moneyfarm
- Fees: 0.35%-0.75%
- ISA Accounts: Yes
- Rating: ⭐⭐⭐⭐⭐
Why We Picked Moneyfarm
Moneyfarm, based in London and established in 2011, has shown excellent results as a robo-advisor. Its digital investment service caters well to both new and advanced investors. On the platform, clients can easily find diversified investment opportunities tailored to various financial goals and preferences, such as ISAs, pensions, and general investment accounts.
Moneyfarm’s ability to combine a high-quality digital service with the option to book a call for personalised advice was a significant factor in my decision. This dual approach allows me to manage my investments conveniently through their app while also having the option to consult with a real human advisor when needed. This flexibility is invaluable, particularly for complex investment decisions.
The clear and simple-to-use app is another reason I gravitated towards Moneyfarm. The platform’s intuitive design ensures that I can easily monitor my portfolio, and make adjustments as necessary. The ease of use significantly enhances my overall investing experience, making it less time-consuming and more efficient.
Moneyfarm offers a broad range of investment options, including managed ready-made portfolios, ETFs, shares, UK mutual funds, and socially responsible portfolios. This variety allows me to diversify my investments effectively, aligning with my risk tolerance and financial goals. The availability of different investment strategies, such as Active Management, Fixed Allocation, ESG, and Thematic Investing, provides the flexibility to tailor my portfolio precisely to my needs.
Moneyfarm Fees
Moneyfarm charges platform fees that vary depending on the type of investment style and the amount you have invested. The fee structure is designed to become more cost-effective as your portfolio grows. Here’s a breakdown of the platform fees:
Active Management:
- £500 – £10,000: 0.75%
- £10,000 – £20,000: 0.70%
- £20,000 – £50,000: 0.65%
- £50,000 – £100,000: 0.60%
- £100,000 – £250,000: 0.45%
- £250,000 – £500,000: 0.40%
- Over £500,000: 0.35%
Fixed Allocation:
- £500 – £100,000: 0.45%
- £100,000 – £250,000: 0.35%
- £250,000 – £500,000: 0.30%
- Over £500,000: 0.25%
Liquidity+:
- Flat annual fee of 0.30% (typically comes to 0.40% with underlying funds costs included).
Share Investing:
- Flat fee of £3.95 per trade, regardless of the size of your trade.
Account Fees
Moneyfarm’s fees also vary depending on the type of account you have:
Stocks & Shares ISA:
- A 0.35% annual custody fee, capped at £45 per year. This fee is separate from the cost of any investments in your ISA.
SIPP:
- Users can set up an ii SIPP from as little as £5.99 per month with the Pension Essentials plan or £12.99 per month with the Pension Builder plan for portfolios over £50,000.
- No trading fees if you set up a regular investment plan starting from £25 per month.
Junior ISA:
- Similar to the adult ISA, the JISA comes with a 0.35% annual custody fee.
Minimum Investment Requirements
To open an account with Moneyfarm, there are minimum investment requirements:
- ISA: £500 minimum investment.
- SIPP: £500 minimum investment, but it’s recommended to have at least £2,500 to benefit from full diversification.
- JISA: £500 minimum investment, with a minimum monthly contribution of £10.
Other Fees
- Foreign Exchange (FX) Fee: For international investments, there is a foreign exchange fee, which varies depending on the account type and investment plan.
- Fund Management Fees: These are the fees charged by the funds themselves and are separate from Moneyfarm’s platform fees. On average, these range from 0.10% to 0.30% for Active Management, 0.17% for Fixed Allocation, and 0.10% for Liquidity+.
Moneyfarm’s fee structure is designed to be transparent and competitive, particularly for larger portfolios. The platform’s tiered fee system rewards higher investments with lower rates, making it an attractive option for those looking to maximise their investment value while keeping costs manageable.
About Moneyfarm
Founded in 2011, Moneyfarm is a digital wealth management company that aims to make investing simple and transparent. It offers low-cost, diversified portfolios based on ETFs managed by an in-house team of experts. Moneyfarm serves around 125,000 customers in the UK, managing over £3.5 billion in assets.
| ✔ Pros | ✖ Cons |
|---|---|
| Personalised portfolios: Tailored to your risk profile and financial goals. | Complex fee structure: Can be difficult to understand for some users. |
| Hybrid approach: Combines digital convenience with access to human advisors. | Limited control: May not suit those who prefer a more hands-on approach to investing. |
| Wide range of investment options: Choose from managed portfolios, ETFs, shares, funds, and more. | Minimum investment requirements: Requires a minimum investment of £500 for most accounts. |
| Multiple investment strategies: Active management, fixed allocation, ESG, and thematic investing. | |
| Lower fees for larger investments: Fee structure rewards long-term and substantial investments. | |
| FCA regulated and FSCS protected: Your investments are secure and safeguarded. |
Moneyfarm TrustPilot Reviews
Moneyfarm enjoys positive reviews for its ease of use, customer service, and ability to combine digital tools with human advice. Users appreciate the clear app interface and the option to speak with advisors. However, some find the increasing choice of investment options a bit confusing and note that fees can be complicated to understand.
Try Moneyfarm
Overall, Moneyfarm is a top pick for those who value personalised advice, a wide range of investment options, and a seamless digital experience. It’s like the Mary Poppins of investment platforms — practically perfect in every way.
eToro – The “social investing” app
- Platform Name: eToro
- Fees: 0 commissions
- ISA Accounts: No
- Minimum Deposit: $50 (or £37)
- Rating: ⭐⭐⭐⭐☆
Why We Picked eToro
eToro’s combination of social trading, commission-free trading, and an exceptional mobile app experience makes it a compelling choice for those new to the world of investing and more experienced traders looking for a user-friendly platform.
One of the main reasons I chose eToro is its innovative social trading feature. This allows users to see and copy the portfolios of other traders. For beginners, this feature can be particularly beneficial, as it provides insight into the strategies of more experienced investors. By following and mimicking successful traders, novices can learn the ropes of investing without having to deal with the complexities independently.
Another significant factor is eToro’s cost structure. With commission-free trading and no custody charges, it’s among the most affordable platforms for stock trading. This low-cost entry point makes it accessible for everyone, regardless of their investment size. The minimum deposit is just £50, making it possible for those with limited funds to start investing.
eToro Fees
eToro claims to offer commission-free trading, but there are several hidden fees:
- Currency conversion fees: 0.5% for bank transfers, 1.5% for PayPal or Sofort.
- Inactivity fee: $10 per month after 12 months of inactivity.
- Spread fees: Vary depending on the asset traded.
- Withdrawal fee: $5 per transaction.
Even with the hidden fees, eToro has a significant advantage over many traditional brokers, which often charge substantial fees per trade. For example, Hargreaves Lansdown and AJ Bell, two of the UK’s biggest DIY investment platforms, charge £11.95 and £9.95 per trade, respectively.
About eToro
Founded in 2007 in Tel Aviv, eToro has grown to over 30 million users worldwide, although only 2.6 million have funded accounts. It was one of the pioneers of “social investing,” enabling users to copy trades from successful traders. eToro allows trading in stocks, commodities, and cryptocurrencies, all in USD.
| ✔ Pros | ✖ Cons |
|---|---|
| Innovative Social Trading: The CopyTrader feature allows users to replicate the trades of successful investors, providing a valuable learning opportunity for beginners. | Spread and Overnight Fees: While trading is commission-free, spreads and overnight fees can add up, particularly for frequent traders. |
| Broad Range of Investments: Offers diverse investment options, including stocks, commodities, and cryptocurrencies. | Withdrawal Fee: A $5 withdrawal fee per transaction might be a drawback, especially for smaller withdrawals or those who withdraw frequently. |
| User-Friendly Interface: The platform is easy to navigate and use, making it accessible to both novice and experienced traders. | Limited Customer Support: Some users have reported difficulties in reaching customer support, especially during peak times. |
| Fractional Shares: Users can buy portions of high-value stocks, making it easier to invest with smaller amounts. | |
| No Commission Fees: Trading is commission-free, reducing transaction costs significantly. | |
| Regulated Platform: eToro is regulated by the Financial Conduct Authority (FCA) and adheres to strict safety standards. |
eToro TrustPilot Reviews
eToro receives mixed reviews. Many users appreciate the social trading features and fractional shares, but some have criticised the hidden fees and the focus on high-risk CFDs. The platform’s usability is generally praised, though some find the information overload challenging.
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In conclusion, eToro’s approach to social trading and its array of tradeable assets make it a strong contender in the world of investing apps. The platform’s commitment to regulation, safety, and user-friendly experience further enhances its appeal. However, users should consider the platform’s fee structure when evaluating its overall suitability for their trading needs.
Wealthify – Affordable fees for small investments
- Platform Name: Wealthify
- Fees: 0.40% to 0.60% of investment
- ISA Accounts: Yes
- Minimum Deposit: £1
- Rating: ⭐⭐⭐☆☆
Why We Picked Wealthify
I decided to feature Wealthify because of its unique combination of accessibility, ease of use, and focus on beginner investors. Wealthify stood out to me for several key reasons.
First and foremost, Wealthify offers an exceptionally user-friendly interface. Both the app and the website are designed to be simple and intuitive, which is very important for beginners who might find their introduction to investing intimidating. The ability to start investing with just £1 makes it accessible to virtually everyone, regardless of their financial situation.
Another significant feature of Wealthify is its range of ready-made portfolios tailored to different risk levels. This is perfect for those new to investing who may not have the knowledge or confidence to select individual stocks or funds. By providing portfolios ranging from Cautious to Adventurous, Wealthify allows users to choose an investment strategy that aligns with their risk tolerance and financial goals.
Wealthify’s option to apply an Ethical filter to portfolios is another standout feature. This aligns well with the growing trend of socially responsible investing, allowing users to invest in companies that demonstrate strong Environmental, Social, and Governance (ESG) practices. This not only caters to ethical investors but also helps in making a positive impact on the world.
Lastly, Wealthify’s ownership by financial giant Aviva adds a layer of credibility and trustworthiness. Aviva’s extensive experience and reputation in the financial services sector reassure investors about the platform’s stability and reliability.
Wealthify Fees
Wealthify’s fee structure is straightforward and designed to be transparent. There is a flat fee of 0.60% per year for using the platform, which covers the management of your investments. On top of this, there are additional fund charges, averaging 0.16% for standard portfolios and 0.70% for ethical choices.
To put this into perspective, these fees translate to £7.60 per year on a £1,000 portfolio or £76 per year on a £10,000 portfolio. For ethical investment options, the fees would be £13 and £130, respectively, for the same portfolio values.
This fee structure makes Wealthify a cost-effective option for smaller portfolios, though it can become relatively expensive for larger portfolios exceeding £50,000. Despite this, the transparent and simple fee arrangement is beneficial for beginners who want a clear understanding of their investment costs.
About Wealthify
Founded in 2016 and based in Cardiff, Wales, Wealthify is one of the largest robo-advisors in the UK. Owned by Aviva, it offers a range of ready-made portfolios designed to match different risk tolerances. Wealthify’s aim is to make investing simple and accessible, allowing users to start with as little as £1.
| ✔ Pros | ✖ Cons |
|---|---|
| Low barrier to entry: Start investing with just £1, making it accessible for everyone. | Limited investment customization: Less control over individual investment choices. |
| Simple and intuitive interface: Easy to use, even for beginners. | Not suitable for high-risk seekers: Not the best option for those seeking aggressive growth strategies. |
| Ready-made portfolios: Choose from a range of portfolios tailored to your risk tolerance. | Fees can be relatively high for larger portfolios: Costs can increase as your investments grow. |
| Ethical investing options: Invest in companies with strong ESG practices. | |
| Backed by Aviva: Provides reassurance of a reputable financial institution. |
Wealthify TrustPilot Reviews
Wealthify is praised for its ease of use and design, making it ideal for beginners. Customers appreciate the simplicity of starting with a small investment and the clear information provided. However, some users feel that the app’s supporting content is less comprehensive compared to competitors and misses having phone support.
Try Wealthify
Wealthify is an excellent choice for those new to investing or those who prefer a straightforward, easy-to-use platform. With the option to start investing with just £1 and a range of portfolios to match different risk levels, it provides a great entry point for less confident investors. However, if you have a larger portfolio, be aware that the fees can become relatively high.
How to Choose An Investment App
With so many options out there, choosing a trading platform isn’t that simple. There are hundreds of options, each offering something different. For those without experience, it is certainly a confusing landscape that can put many people off from taking the plunge.
This is why it’s crucial to understand the key differences between these types of trading platforms and figure out what you want from one. This will be essential in picking the right trading platform for you.
At the end of the day, choosing your trading platform is a personal and important decision that heavily depends on your own priorities. It will be unique to you, so don’t be afraid to do your research and homework. With the right knowledge, you’ll feel confident in your decision.
So, where do you start? I will try to break down the different options available to you and help you weigh up which trading platform is right for you.
ISA vs GIA
First things first: it is important to know the difference between a Stocks & Shares ISA and a General Investment Account (GIA). If you’re a UK resident and taxpayer, you can save up to £20,000 in ISAs each tax year, which can be spread across different types of ISAs.
The key benefit of a Stocks & Shares ISA is that you won’t need to pay tax on any dividends or capital gains (basically growth on investments). This is a great way to protect your wealth.
On the other hand, if you choose a General Investment Account (GIA), you may need to pay taxes on dividends and capital gains if you exceed permitted tax allowances.
Many platforms offer both options. Here are a few scenarios where one might be a better choice than the other:
- If you’re not a UK resident, or planning to move in the near future, the ISA might not be appropriate.
- If you have already used all of your ISA allowances, you might need to move onto the General Investment Account to continue investing and trading.
- Finally, if you’re investing relatively small amounts, the tax allowances might mean that you’re not due any tax on your investments, even within a General Investment Account.
Regulation and FSCS Protections
I believe it’s essential to only consider a shares investing app if it’s adequately regulated. This means reputable investing apps in the UK should be authorised and licensed by the FCA. If it isn’t, and it’s offering financial products to UK investors, you’ll need to tread carefully. After all, you won’t be protected by the FCA, let alone the FSCS.
FSCS protection is absolutely crucial. In simple terms, if you’re holding investments and the broker goes bust, the FSCS has you covered up to the first £85,000.
Range
When you select an investment platform, the range of investments is a key consideration. I personally prefer a platform that aligns with my investment goals. Some platforms offer a broad selection of stocks, ETFs, and funds from various countries, while others focus on specific types of investments. While a wider choice might seem appealing at first, I’ve found that a more curated selection can actually be beneficial, helping me avoid feeling overwhelmed by the sheer number of options.
Costs and fees
Let’s be realistic: there’s no such thing as a free lunch, and investment platforms are no exception. Even commission-free platforms do make money from other, less apparent fees. However, I believe that the fees charged should be reasonable and transparent. After all, they’re supposedly contributing to improved features, user experience, and security.
When I evaluate the costs and fees, I consider my own budget and investment amount. Annual or platform fees, dealing fees, subscription fees, FX fees, and potential withdrawal or inactivity fees all factor into my decision. I aim to strike a balance between cost-effectiveness and the value I receive from the platform’s features and services.
Minimum deposit
Many platforms require a minimum deposit, ranging from as low as £1 to upwards of £1,000. When starting with a minimal budget however, you should consider a platform that offers fractional shares.
Usability
For some tech-savvy folks, dealing with badly designed apps might not be an issue, but I prefer a platform that’s intuitive and enjoyable to use. It shouldn’t feel like a chore to manage my investments.
When I assess usability, I pay close attention to the app and desktop experience, the quality of investor support, the clarity of the dashboard, the effectiveness of investment filters, and the availability of research tools. I want a platform that caters to my preferences and makes it easy to find the information and features I need.
Inclusivity and ethics
If you are passionate about sustainable investing, a platform with limited sustainable fund options simply won’t cut it.
I encourage investors to do their research. Look into the leadership team’s diversity, the company’s commitment to sustainability, and their social impact. If faith-based investing is important to you, ensure the platform offers suitable investment options.
Best Investment Apps for Beginner UK Investors
I’ve also done a full review of the best investment apps for beginners in a full article, but here is a quick list of some of them:
- Wealthify: Wealthify offers a user-friendly robo-advisor platform for UK investors, specializing in ISAs, general investment accounts, and Junior ISAs. Users can choose from various risk-level portfolios, mainly consisting of ETFs. It’s regulated by the FCA, ensuring security. While the platform charges fees between 0.6% and 0.7% and might have slightly higher costs than some rivals, it provides diverse portfolios, including socially responsible options. Ideal for beginners, but it’s wise to consider the fee impact on investments.
- Nutmeg: Nutmeg is an ideal investment platform for beginners, offering user-friendly features and a range of investment options. It provides easy setup, a smooth mobile and desktop app, and diverse account types like ISAs and pensions. Nutmeg’s clear, straightforward approach suits long-term investors, not day traders, with a choice of portfolios, including socially responsible investments. Although it has slightly higher fees and a £500 minimum deposit, its safety is assured by FCA regulation and FSCS protection. Additionally, its extensive educational resources, including a comprehensive investment glossary and blog, make it a top choice for novice UK investors.
- Moneybox: Moneybox is also one of the most beginner-friendly investing apps offering stocks, shares ISA, Lifetime ISA, general investment accounts, and Junior ISAs. FCA-regulated, secure money custody. Flat £1/month fee for accounts under £5,000, 0.45% annual fee for balances above. Easy-to-use interface, educational resources. Wide fund range, round-up feature for spare change. Consider fees when evaluating cost-effectiveness.
- Acorns: Acorns are one of the most user-friendly micro-investing apps in this list that rounds up spare change from everyday purchases to invest in diversified ETF portfolios. With three subscription plans and an intuitive interface, it’s ideal for beginners.
While fees may seem higher for smaller portfolios, the round-up feature can offset costs over time. Pros include automatic savings and a cashback program, but cons include limited control over investments. Overall, Acorns is an attractive option for beginners who want to start investing in small amounts.
Best Robo Advisors in the UK
I’ve already created an in-depth Robo Advisor guide for investors who are looking for their next platform.
You might notice that some investment apps are also listed in the main section of this article, but this is because the available investing apps in the UK are not infinite, and naturally, there is some overlap between the lists.
With that said, here is an overview of the best 5 Robo-Advisors I’ve included in the full comparison review guide:
- Nutmeg: Renowned for its diverse portfolio types and user-friendly interface, Nutmeg caters to all levels of investors. It offers portfolios like fully managed, fixed allocation, socially responsible, and smart alpha, each designed to suit different investment styles and goals.
- Moneyfarm: Moneyfarm stands out for its personalised investment strategies combined with human expertise. It’s ideal for those who appreciate a mix of automated technology with personalized advice and direct human interaction for managing investments.
- InvestEngine: Unique for its DIY and managed portfolio options, InvestEngine appeals to those who want more control over their investments. It’s especially attractive for its low management fees and focus on ETFs.
- IG Smart Portfolios: Backed by the advanced infrastructure of IG Group, IG Smart Portfolios is known for its professional, automated investment management, appealing to those who trust established financial institutions.
Best Investment Apps for Micro Investing
Micro Investing is the process of regularly investing small amounts of money from spare change or from auto-investing easy-to-use apps.
Similarly to the best robo investors, I’ve also created a guide about the best Micro Investing apps, but in case you are in a hurry, you can find the best apps for Micro investing below:
- Moneybox: Favoured for its simplicity and innovative round-up feature, Moneybox is excellent for beginners wanting to start saving and investing small amounts. It offers various investment options, including stocks and shares ISAs, making it versatile.
- Wealthify: Wealthify’s appeal lies in its diversified and ethically-focused portfolios. It’s a good fit for those who want a hands-off investment experience but are also conscious of ethical investing.
- Nutmeg: Known for its professional management and tailored investment strategies, Nutmeg is ideal for those who seek a more traditional investment approach combined with the ease of a robo-advisor.
- Moneyfarm: Balancing technology and expert advice, Moneyfarm provides a hybrid investing experience. It’s suitable for investors who want the convenience of an app with the reassurance of professional oversight.
Best Platforms for ETF Investing
If you are particularly looking for a platform that focuses on ETFs, you should be looking for a broker that offers many ETFs, low costs, great platform user experience, large availability of features and investment instruments, and good customer support. Here are my top 3 picks:
- Invest Engine: Invest Engine is celebrated for offering a user-friendly platform that caters to both novice and seasoned investors. With over 600 ETFs available, it provides a wide selection at low fees. Investors have the flexibility to choose between DIY investing and managed portfolios, making it a versatile option for a range of investment strategies.
- Interactive Investor: Suited for intermediate investors, Interactive Investor boasts a comprehensive selection of more than 1,000 ETFs. Its platform is designed with a user-friendly interface and offers a broad spectrum of investment options beyond ETFs. The flat fee structure is a notable advantage, providing clarity and predictability in costs.
Most Reliable and Safe Investing Apps Available in the UK
Reliability and safety are crucial when choosing an investment app. After all, you might want to deposit your life savings. That’s why I’ve scoured the internet and consulted expert opinions, to offer you a guide to the most reliable and safe investing apps available in the UK:
- eToro: A popular choice for both beginners and experienced investors, eToro offers a user-friendly platform with a considerable investment options, including stocks, ETFs, and cryptocurrencies.
- Hargreaves Lansdown: A well-established name in the UK investment industry, Hargreaves Lansdown provides a comprehensive platform with extensive research and educational resources. It’s known for its strong security features and regulatory compliance.
- interactive investor: This platform is a favourite among experienced investors due to its choices and advanced tools. It’s FCA regulated and prioritises the security of user data and funds.
- Fidelity: A global investment firm with a strong reputation, Fidelity offers a user-friendly app with a diverse range of investment options. It adheres to strict security protocols and is regulated by top-tier authorities.
Key Factors to Consider:
- Regulation: Ensure the app is regulated by the FCA or another reputable financial authority. This provides a layer of protection for your investments.
- Security: Look for features like two-factor authentication, data encryption, and secure login procedures. These measures safeguard your personal and financial information.
- Reputation: Research the app’s history, user reviews, and industry recognition. A well-established platform with positive feedback is generally a safer bet.
- Customer Support: Choose an app with responsive customer support in case you encounter any issues or have questions. TrustPilot is often a goldmine when it comes to this type of information.
Additional Tips:
- Diversify your investments across different asset classes to mitigate risk.
- Start with a small amount and gradually increase your investment as you gain confidence.
- Regularly review your portfolio and rebalance it as needed.
Remember, investing always carries some level of risk. However, by choosing a reliable and safe app, you can minimise those risks and invest with greater confidence.
Please note that this guide is for informational purposes only and should not be considered financial advice. It’s crucial to conduct your own research and due diligence before making any investment decisions.
How safe are the investment apps we presented?
In short, all of the investment apps presented here are safe. If you are investing in the UK, make sure that the app of your choice is regulated by the FCA, that funds are FSCS-protected, and that it uses advanced encryption technologies.
Safety is a serious concern for investors, especially when it comes to entrusting your hard-earned money to a digital platform. The good news is that most of the best investment apps in the UK are regulated by financial authorities such as the Financial Conduct Authority (FCA), providing a layer of protection and security for users. These regulations require brokers to adhere to strict standards in terms of transparency and fairness.
Moreover, these apps often use advanced encryption technologies to protect the sensitive financial and personal information of their users from unauthorized access and potential cyber threats. Some even offer insurance coverage on your investments up to a certain limit, additionally safeguarding your assets.
However, like with any financial decision, it’s important to do your own due diligence. Check out user reviews, verify regulatory compliance and look into the app’s security measures before you start investing.
Users should also thoroughly understand any potential investment and consider diversifying their portfolio to mitigate risk. It is also worth noting that many of these apps are covered by the Financial Services Compensation Scheme (FSCS), which can protect your investments up to £85,000 if the company becomes insolvent.
Frequently Asked Questions
What is the best investment app for beginners in the UK?
When it comes to beginners in the UK, there isn’t one single app that reigns supreme — it’s more like a buffet of options, each catering to different tastes and needs.
If you’re looking for simplicity and a gentle nudge into the world of investing, Moneybox might be your cup of tea. Its “round-up” feature is like a financial fairy godmother, magically transforming your spare change into investments.
But, if you’re drawn to the idea of investing in themes that resonate with you, Wombat could be the perfect match. Its unique approach allows you to invest in trends like “Ethical Fashion” or “Clean Energy,” making your portfolio a reflection of your values.
Ultimately, the best investment app for you will depend on your individual preferences and goals. Don’t be afraid to shop around and try a few different apps to find the one that feels right for you. Remember, the most important thing is to start your investment efforts and build a brighter financial future.
What is the most trusted investment app
eToro is a popular choice, lauded for its user-friendly interface and social trading features, making it ideal for beginners and experienced traders alike. Its regulation by the Financial Conduct Authority (FCA) adds another layer of trust and security.
Hargreaves Lansdown is a well-established name in the UK investment scene, known for its comprehensive platform, extensive research, and educational resources. Its long-standing reputation and commitment to security make it a trusted choice for many.
Interactive Investor has also garnered a loyal following, especially among seasoned investors who appreciate its features. Its regulatory compliance and transparent fee structure further solidify its trustworthiness.
Why Use Investment Apps?
Investment apps offer a convenient and hassle-free way for individuals to invest their money. They eliminate the need for traditional brokers or financial advisors and allow users to manage their investments on their own.
With investment apps, investors have the freedom to choose where and when to invest without any geographical or time limitations. Additionally, most investment apps offer features such as automatic portfolio rebalancing, tax-efficient investing, and analysis tools that help users make informed decisions about their investments. This makes investment apps a valuable tool for beginner investors who may not have the knowledge or experience to learn about the complex world of investing on their own.
How to Start Investing Money in the UK?
Starting to invest in the UK involves understanding specific factors like taxes, income, and government regulations. Here’s a tailored approach:
- Define Financial Goals: First, you need to determine your objectives, such as saving for a house, retirement, or education. UK-specific goals might include maximising tax-efficient vehicles like ISAs or pensions.
- Educational Foundation: Gain knowledge about various investment vehicles (stocks, bonds, mutual funds, ETFs) and the associated risks. Familiarise yourself with UK-specific investment regulations and tax implications.
- Selecting an Investment Platform: Choose a platform that aligns with your expertise. Beginners might prefer apps offering ready-made ETF portfolios, while more experienced investors could opt for platforms allowing personalised portfolio management.
- Opening an Investment Account: In the UK, consider tax-efficient accounts like stocks and shares ISAs, general investment accounts, or self-invested personal pensions (SIPPs).
- Start Investing: Begin with an amount you’re comfortable with, gradually increasing your investment as you gain confidence. UK investors should be aware of their tax allowances and how these impact investment choices.
- Ongoing Investment Review: Regularly assess your investments, keeping in mind that investing is a long-term endeavour. Don’t be swayed by short-term market fluctuations.
Patience and consistency are key in the investment landscape. Building a substantial portfolio takes time, and understanding UK-specific investment nuances can greatly aid in its development.
How to Invest with Little Money in the UK?
Investing with a small amount of money can be a daunting prospect, but it’s completely possible and can be highly rewarding. Here are some options:
- Micro-Investing with Apps: Apps like Acorns and Moneybox make it possible for you to start investing with just your spare change. They round up your everyday purchases to the nearest pound and invest the difference. This is a significantly less intimidating way to start investing and can help you gradually build up your investment portfolio over time.
- Invest in ETFs: Exchange Traded Funds (ETFs) are a good option for beginner investors with little money. ETFs are baskets of different stocks or bonds, and buying shares in an ETF means diversifying your portfolio without needing to buy each individual security. Many platforms provide the opportunity to invest in low-cost ETF portfolios.
- Robo-Advisors: Robo-advisors such as Wealthify automate the investment process and typically require lower minimum investments than traditional financial advisors. They use algorithms to optimise your investment strategy based on your risk tolerance and financial goals.
- Fractional Shares: Investing in fractional shares is another excellent way for beginners to start investing with little money. Fractional shares allow you to purchase a portion of a share, which means you can start investing in high-value companies with just a small amount of money. This is a great way to diversify your portfolio and gain exposure to a wider range of stocks without requiring a large upfront investment. Platforms like Trading 212 and Freetrade provide the opportunity to invest in fractional shares with no fees, making it an affordable option for beginner investors. Their platforms are easy to use and provide a vast range of investment options, including ETFs, making them ideal for beginners.
Remember, investing always involves risks. Even though these methods require less money to start, it’s crucial to educate yourself about investment strategies, understand your risk tolerance and be patient, as investing is generally a long-term game.
Conclusion
In concluding our exploration of the UK’s investment apps, it’s important to keep in mind that we devote considerable time to thoroughly reviewing these platforms, aiming for the most unbiased and honest assessments.
Our goal is to equip our readers with reliable information to make informed decisions. These apps, offering everything from fractional shares to robo-advising, are reshaping the investment landscape, making it accessible to a broader audience. While user-friendly and convenient, remember that investing involves risks. We encourage you to do your research and understand your risk tolerance.
For any further queries, feel free to reach out via comments and I will be happy to help. Happy and informed investing!
Capital at risk. This article is for information purposes only and is not investment advice or a recommendation. You should consider your own personal circumstances when making investment decisions. Past performance is not a reliable indicator of future performance. Tax treatment depends on your personal circumstances, and rules can change.
