Choosing the right investment platform is a crucial step for UK investors. The platform you pick will determine the fees you pay, the investments you can access, and the quality of your experience.
1. Consider Costs and Fees
Look for platforms with transparent pricing. Some charge a flat fee (e.g. Interactive Investor), while others charge a percentage of your portfolio (e.g. Hargreaves Lansdown, AJ Bell). Choose based on your portfolio size—percentage fees are better for smaller amounts.
2. Check the Investment Options Available
Make sure the platform offers the funds, shares, ETFs, and tax wrappers (like ISAs and SIPPs) you want. Beginners may prefer a platform with ready-made portfolios.
3. Evaluate Ease of Use and Mobile Access
A user-friendly interface, good mobile app, and educational tools can make a big difference, especially for first-time investors.
4. Research Reputation and Regulation
Ensure the platform is FCA-regulated and has strong customer service. Look at independent reviews and awards to gauge trustworthiness.
5. Understand Additional Features
Features like dividend reinvestment, automatic investing, and financial planning tools can add long-term value.
By comparing platforms based on these criteria, you can choose one that aligns with your goals, budget, and experience level.