All investing should be regarded as longer term. The value of your investments can go up and down, and you may get back less than you invest. Past performance is no guarantee of future results. If you’re not sure which investments are right for you, please seek out a financial adviser. Capital at risk.
Dodl by AJ Bell has launched. Find out some features of the brand new app.
What is Dodl?
Dodl is a trading platform aimed at beginner investors – those looking to get exposure to the stock market without the jargon or baffling charts. It’s brought to us by AJ Bell, an already successful trading platform that offers various tax wrappers, such as individual savings accounts (ISAs) and pensions. Dodl is a completely new platform with a different target user to AJ Bell. It also offers ISAs, lifetime ISAs (LISAs) and pensions.
How is Dodl different from AJ Bell Youinvest?
It may seem like AJ Bell is throwing the baby out with the bathwater by launching a new mobile app, but it won’t be losing AJ Bell Youinvest in the process. The main difference will be that this new app will be easier for beginners to use and understand.
AJ Bell has seen the success of other mobile trading apps and decided to go against them with something new and exciting, creating a platform that better suits the modern trader — a topic we recently covered in our white paper Gen Reddit: Where next for the investors fed by social media?. This ensures that existing AJ Bell customers aren’t put off with a sudden onset of monsters in their trading app, and gives AJ Bell the freedom to make this app completely different.
What products does Dodl have?
The products that Dodl will offer will give it a good chance to stand up to its competitors — the company plans to let customers invest with a variety of different tax wrappers, including individual savings accounts (ISAs), lifetime ISAs, pension and general investment accounts.
You can make regular payments into your account, as well as combine and transfer your existing ISAs or pensions to your Dodl account.
With the Dodl ISA, you’ll be able to save up to £20,000 in each tax year without having to pay any tax on your profits.
With the Dodl pension, you’ll be able to save up to in each tax year to receive an additional 25% from the government. You won’t be able to cash out the money until you turn 55.
A general investment account will be suitable for those that have made use of their annual ISA allowances already. You might be subject to capital gains tax on any profits over £12,300 in each tax year.
What can you invest in with Dodl?
There are a few different types of investment that you can choose with Dodl:
At the moment, you can only invest in companies listed on the London Stock Exchange. It’s planning to add US stocks soon.
We hope that it’ll add stocks from more stock exchanges in the future, as this will allow it to compete with similar trading apps.
Dodl’s “themed investments” include funds that focus on specific areas, such as technology, robotics, healthcare and responsible investing. This is similar to Wombat’s themes.
Some of the themes are:
- UK top 100. This lets you invest in the FTSE100 using the vanguard FTSE 100 index unit trust.
- The home team. This lets you invest in the HSBC FTSE250 index fund.
- Across the pond. This invests in the iShares US index fund, which gets you access to the biggest US companies.
- On the continent. This invests in some of the biggest European companies with the Vanguard Europe index fund.
- Going east. This invests in the biggest Japanese companies with the Fidelity index Japan fund.
- Be more pacific. Thus invests in some of the biggest companies in the Asia-Pacific region with the Vanguard Pacific ex-Japan index fund.
- The global climbers. This invests in developing economies with the iShares Emerging markets index fund.
- On top of the world. This gives you access to some of the largest companies
Ready made portfolios
If you’d prefer an option that’s less hands-on, you might prefer a ready made portfolio. With Dodl, you can invest in AJ Bell’s ready made portfolios. There are 6 different risk levels. You’re also able to invest in AJ Bell’s “Responsible Growth” fund.
What other features does Dodl have?
You can use Apple and Google Pay to add money to your account, as well as debit card payments and direct debits.
Dodl has monster characters to help you through the application process and to help you choose investments.
How much does Dodl cost?
Dodl will have an annual charge of 0.15% of your portfolio value for each type of account that you have. There is a minimum charge of £1 per month. This means that unless you’re investing £675 per month, you’re paying higher than the advertised 0.15%. Investing £100 per month would cost £1 each month, which is equivalent to paying 1%.
Buying and selling stocks or funds is commission free and Dodl doesn’t charge for tax wrappers, such as an ISA or a pension.
So, what does this actually mean?£10,000 invested in an ISA would cost you £15 each year. Just £1,000 invested in an ISA would cost you £12.
If you invest in funds then you’ll have to pay the annual charge of the underlying fund as normal on top of the platform fee.
Dodl referral offer
Dodl has launched a referral promotion that lets you claim a free £30 voucher for Blackhawk if you refer a friend or are referred by a friend.
The referred friend has to open a general investment account, ISA, LISA or pension and add at least £500 to the account within 120 days – this can either be with an account top-up or by transferring an account, but it can’t be transferred from AJ Bell.
How to get your gift voucher:
- Open an account with Dodl. You can choose any of the accounts that Dodl has on offer.
- Fill out the referral form on Dodl’s website. It asks for the details of the person who referred you and the details you signed up with.
- Deposit at least £500. This can be either with a brand transfer or by transferring your account from another provider.
- Get your voucher. You and your friend will receive an email with a voucher code in the calendar month after your deposit.
You’ll need to be a Dodl customer with at least £500 in your account when the voucher arrives and your voucher may be reclaimed if you close your account or transfer out within 12 months.
Is Dodl safe?
Dodl is part of the AJ Bell Group, which is a regulated company. AJ Bell Securities Limited is a member of the London Stock Exchange and is regulated by the Financial Conduct Authority.
Your money is held in FCA-approved banks and is protected under the FCA rules. You’ll also be covered by the Financial Services Compensation Scheme, which means you could claim up to £80,000 if AJ Bell ever goes bust.
Pros and cons of Dodl
- Commission free trading
- Easy to use
- Referral promotion
- Low fees
- UK stocks only
Our verdict: Is Dodl any good?
From our experience with Dodl, it’s a Dodl to sign up and use, and the monsters are a rather cute addition, despite us initially thinking they could be childish. From the features and fees, it looks like Dodl is looking to compete directly with the likes of Freetrade and eToro. AJ Bell already has a successful investment platform, so we look forward to seeing how Dodl grows over time.
More guides on Finder
Weekly share tips: This week is Alphabet
Why George Sweeney believes Alphabet is one to watch. This week’s share tip. Not financial advice or a recommendation.
Find out the best Vanguard ETFs to buy as a UK investor, including how the funds have performed and where you can invest.
How to buy Proterra shares
Ever wondered how to buy shares in Proterra? We explain how and compare a range of providers that can give you access to many brands, including Proterra.
Why tax changes make 2023 the year of the ISA
The Treasury is taking a bite out of investors’ returns in 2023…and another one in 2024. Here’s why this makes stocks and shares ISAs even more attractive. Paid content.
Bank stocks: How to invest
Bank stocks can be rewarding, but there are risks involved that could impact your profits. Find out how to invest in banks.
A guide to company earnings
Company earnings reports can be a useful tool when researching stocks to invest. Our guide explains how you can use them for your benefit.
The best stock trading apps and platforms in the UK
We’ve tested, analysed and scored trading apps to find the 10 best trading platforms in the UK, who they’re best for and the pros and cons.
The best stock trading apps and platforms in the UK
We’ve taken a look at some of the best trading apps in the UK and explained who they’re best suited to. Our table compares fees and services too.
The 5 stages of buying and selling a stock
Find out how to buy and sell shares in the most efficient way to minimise mistakes and maximise your potential profits by following these 5 steps. (Paid content)
Lightyear investing review | App, pricing and features
The Lightyear app lets you buy and sell UK and US stocks for free. We look and see if there are any catches.
Ask an Expert