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Interactive Investor is a market-leading investing platform, and their Stocks and Shares ISA is top-notch. With unparalleled investment options, this seems great for beginners and more experienced investors. The free trade makes it good value for people investing on a monthly basis, and there are additional plans to suit more active investors.
Your Stocks and Shares ISA will also include access to a Junior ISA and a general Trading Account. The fees are clear and easy to understand, while there are three plans available:
- Investor plan – £9.99/month
- Funds fan plan – £13.99/month
- Super investor – £19.99/month
Top feature of Interactive Investor’s Stocks and Shares ISA
Interactive Investor does a great job catering to all types of investors. You can pick out your own investments from a wide selection of shares, funds, ETFs, and investment trusts. Or if you want simplicity with your Stocks and Shares ISA, they offer some great ready-made portfolios and recommendations.
If you’re someone who likes to make monthly investments, the free trade makes it great value. Additional trades are charged at a fair price, and they have different plans that could suit you if you invest more frequently.
A junior ISA and a general trading account are bundled into every plan at no added cost, which can help you make the most of all your allowances each tax year.
Interactive Investor commission prices
With all of the plans, you get one free trade to use each month valued at £7.99, which seems excellent if you’re an investor who gets paid monthly and top up your Stocks and Shares ISA after each pay! It’s worth noting the free trading credit you get each month does expire after 90 days if not used.
If you do want to make more than one trade with the standard investor plan, there is a commission charge of £7.99 for each additional trade. This price stays the same whether you invest in UK shares, US shares, funds, or investment trusts. Some other international shares do carry a higher £19.99 commission.
If you choose one of their upgraded plans, the commission structure is slightly different:
- Funds fan: this plan gives you two free fund trades per month and then additional funds and investment trust trades just cost £3.99 each. Other investments cost the standard commission.
- Super investor: with this premium plan, you get two free trades per month, then additional UK trades (including funds) just cost £3.99 and additional US shares cost just £4.99.
Fees you should know about
The different plans offered by Interactive Investor each have a flat monthly fee that includes your Stocks and Shares ISA along with a junior ISA, and a general trading account. If you want to add on a SIPP (self invested personal pension) it’s an additional £10 per month.
If you make a trade worth over £100,000, for UK shares, funds, bonds, or gilts there is a flat £40 fee. Also, to buy or sell over £100,000 worth of US shares, there is a fee equal to 0.04% of the trade value. For any other international shares, any trade over £25,000 has a 0.1% additional fee.
Telephone trades cost £49 so it’s much better value to do your deals online. There’s also a £4.99 fee if you make an advance buy order that you want to take place in more than two business days.
The foreign exchange rate will be calculated at the current bid/offer exchange rate plus a percentage fee that works on a tiered system based on the size of the trade. Trades worth up to £24,999.99 have a 1.5% fee and then this progressively goes down to just 0.25% for larger trades over £600,000. This is quite competitive and comparable to most competitors.
Depending on what country your investment purchases come from, there are sometimes additional charges like stamp duty that are set by different governments. In the UK, this is 0.5% for equity buys. Urgent cash withdrawals cost £15 and there are some additional costs if you want things like paper documents and share certificates. Failed payments or late settlements also incur a £25 fee.
Investment funds and trusts do often come with their own management fees, which typically range from 0.25%-1.8% and are just taken from the value of your investments.
Buying shares, ETFs and funds with a Interactive Investor Stocks and Shares ISA
What’s great about this Stocks and Shares ISA is that you get full access to Interactive Investor’s wide range of investment options. There are over 40,000 shares available and over 3,000 funds to choose from the UK and abroad. That’s not a typo, you read that right.
So there’s an excellent choice no matter what kind of investor you are. Also, if you’re someone who prefers to leave it to the professionals, they offer ready-made portfolios and fund recommendations that are all included in the platform cost. This means you pay nothing extra to have expert advice to help you with your Stocks and Shares ISA.
You can also check out what the most popular investments on the platform are and see what other people are investing in if you need inspiration. The flat fees for extra investments mean that you don’t have to factor in different costs if you’re someone who prefers funds instead of individual shares.
If you want to create your very own ethical Stocks and Shares ISA, Interactive Investor provides you with the tools and info to create a portfolio that matches your values.
If you’re ever unsure about the suitability of an investment for your own circumstances, please seek independent financial advice
Interactive Investor’s platform
Recently revamped to be more accessible for newer investors, the platform is simple and straightforward to use. You can access your portfolio on the website, tablet, or mobile phone.
It takes less than ten minutes to set up your Stocks and Shares ISA, and all the information provided by Interactive Investor is clear and easy to understand. You’ll have no problem navigating around their website and app. Adding money to your account can be done easily online or through your mobile app.
Visually, it’s a great platform. There’s no need to decipher any complicated information. Your portfolio and investments are presented as clear as day. You also have the ability to do deep dives into your portfolio to make sure you always have a clear picture of where your money is going.
Interactive Investor’s research offerings
There are some great ready-made investment portfolios that can be used to suit investors looking for some guidance. Alternatively, if you know what you’re doing but want to dig into deeper research, there’s plenty of materials available to help you. Interactive Investor has a frequently updated news hub, along with their own videos and podcasts if you’re more of a videophile or audiophile. There is also a well-stocked knowledge centre for learning, and a dedicated area to discuss investments with other investors.
Do be mindful that any investment information and expert opinion provided on Interactive Investor’s website is not personal advice and is designed for investors who are happy making their own investment decisions. If you’re unsure about the suitability of an investment for your circumstances, you’ll want to seek out your own independent financial advice
Service and support
Interactive Investor offer an extensive FAQ section packed with information. You can get in touch with them using a secure message service through your account or you can give them a call from 07:45 to 17:30 Monday – Friday. There’s also some extended call centre hours for assistance with international trades.
They have a 4.5 star rating on Trustpilot, with a lot of customers particularly happy with the telephone support they received.
Is an Interactive Investor Stocks and Shares ISA right for you?
Being able to combine a massive selection of options along with investment tools and pre-made portfolios is definitely a bonus. It makes this Stocks and Shares ISA really useful if you need support with your selections and worthy of experienced investors who know what they’re doing.
There’s no lump sum required to open an account, and monthly payments start from just £25. Also, no transfer or exit fees make the Interactive Investor Stocks and Shares ISA a flexible option for investors looking to make the most of their current tax allowances.
The free monthly trade seems great if you plan to invest on a regular month-by-month basis. If you want to be more active than investing just once a month, the commissions are fair and the ability to upgrade to a better plan gives you more flexibility and value.
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