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IG vs interactive investor
Which one of these platforms is suitable for your investing needs?
What's in this guide?
Both interactive investor and IG are investment platforms offering a range of different options for what you can invest in. They both have very similar offerings, with stocks and shares individual savings accounts (ISAs), self-invested personal pensions (SIPPs) and general investment accounts.
The main difference between the two is the cost structures, detailed below.
IG vs interactive investor
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| Overall rating | ★★★★★ | ★★★★★ |
| Markets and products rating | ★★★★★ | ★★★★★ |
| Costs rating | ★★★★★ | ★★★★★ |
| Mobile and web features rating | ★★★★★ | ★★★★★ |
| Learning resources and tools rating | ★★★★★ | ★★★★★ |
| Keep in mind | 76% of retail CFD accounts lose money | |
| Go to site More Info | Go to site More Info |
What markets and products do they cover?
| | |
| Rating | ★★★★★ | ★★★★★ |
| Risk assessment quiz | ||
| 3 or more portfolios | ||
| 5 or more portfolios | ||
| ETFs | ||
| Stocks and shares ISA | ||
| Pension (SIPP) | ||
| Lifetime ISA (LISA) | ||
| Junior products | ||
| Ethical investing | ||
| Go to site More Info | Go to site More Info |
Fees, costs and charges
| | |
| Rating | ★★★★★ | ★★★★★ |
| Cost of investing £10,000 | £72.00 | £1.20 |
| Cost of investing £100,000 | £220.00 | £119.88 |
| Cost of investing £1m | £2,200.00 | £119.88 |
| Average cost per £100 | £0.39 | £0.44 |
| Go to site More Info | Go to site More Info |
| | |
| Rating | ★★★★★ | ★★★★★ |
| Less than 10 trades | £3 to £8 | £7.99 |
| 10 to 19 trades per month | £3.00 | £3.99 |
| 20+ trades per month | £3.00 | £3.99 |
| Custody fee | £96 (can reduce by trading) | £119.88 (£9.99 monthly) |
| Bonds fee | N/A | £40.00 |
| ETFs fee | £8.00 | £7.99 |
| Investment trusts fee | £8.00 | £7.99 |
| Phone dealing fee | £40.00 | £49.00 |
| Go to site More Info | Go to site More Info |
Mobile and web features
| | |
| Rating | ★★★★★ | ★★★★★ |
| Desktop/web app | ||
| iPhone app | ||
| Android app | ||
| Share price notifications | ||
| Go to site More Info | Go to site More Info |
Learning resources
| | |
| Rating | ★★★★★ | ★★★★★ |
| Guides and information on products available | ||
| Videos and walkthroughs | ||
| Demo account | ||
| Advice | ||
| Go to site More Info | Go to site More Info |
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IG vs interactive investor: Costs
IG charges based on how much you invest, while interactive investor charges a flat monthly fee.
IG’s fees are pretty simple. For its “Smart Portfolio”, it charges 0.72% on investments up to £50,000 made up of a 0.50% IG management fee, an average of 0.15% in fund costs and 0.07% for transaction costs. For investments over £50,000 it charges 0.22%, made up of an average of 0.15% in fund costs and 0.07% in transaction costs. You pay no IG management fee over £50,000.
interactive investor has a flat fee for using all of its services (an additional fee applies if you want to add the self-invested personal pension). Its most basic plan “Investor” costs £9.99 per month.
What does that all actually mean?
If you invest £10,000 with IG, then you’ll spend £72 (in a year).
If you invest £10,000 with interactive investor then you’ll spend £119.88 (in a year).
Many investment platforms have calculators that help you work out the costs of your investments based on a figure you enter. Neither IG nor interactive investor has this, so we did it the old fashioned way, with a calculator, pen and paper using the costs outlined above.
Our verdict: Is IG better than interactive investor?
These platforms are, on the face of it, very similar. Typically, you’d work out better price-wise with interactive investor if you plan to open several different trading accounts (such as a JISA, an ISA and a general investment account), as you can open as many as you want for your flat fee.
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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. Capital is at risk.
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