Open an account with interactive investor
- The widest choice of investments
- Mobile app that helps to stay in control
- Managing money in up to 9 currencies
- A monthly Fair Flat Fee
- Capital at risk, investments may fall
interactive investor review
Find out about the investing service that aims to help you achieve financial independence.
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What's in this guide?
What is interactive investor?
interactive investor (yes, that’s intentionally all lower case and it’s sometimes referred to as “ii”) is an online investment service offering a range of different investment products, all with flat fees. It has plenty of products available and the opportunity to invest in shares, funds, investment trusts, exchange traded funds (ETFs), venture capital trusts (VCTs) and bonds and gilts. Interactive has been listed as one of our best share trading apps of 2020.
How does interactive investor work?
For a flat fee of a minimum of £9.99 per month, interactive investor takes care of your assets and gives you a monthly credit of £7.99. This can be used for any trade in any of the accounts that your service plan covers (we’ll get on to the service plans in a mo).
You don’t have to pay additional service fees if you want to have more than one account with interactive investor, so you can have a trading account, stocks and shares ISA and a junior ISA all for one flat fee. It’s a great option if you plan to use your full annual ISA allowance and trade further as well as, say, opening a junior ISA for several kids.
As with many rules, there’s an exception, on the self-invested personal pension (SIPP for short), which costs an additional £10 per month.
What products does interactive investor offer?
interactive investor has nine different accounts available. These include:
- Self-invested personal pensions (SIPPs)
- Individual savings accounts (ISAs)
- Trading accounts
- Junior ISAs
- Joint trading accounts
- Free research accounts
- Company accounts
- Pension trading
- Cash trading
How much does interactive investor cost?
Unlike other investment platforms, interactive investor charges flat fees instead of taking a percentage from your investments. You can choose a service plan based on what you’re looking for. These plans start at £9.99 per month and, as we mentioned above, cover multiple accounts.
You get some of this monthly service fee back in the form of credit to your account. Every month, interactive investor gives you £7.99 in credit to buy or sell an investment.
What are interactive investor’s service plans?
There are three service plans and you can choose one that suits you. All prices below relate to trades under the value of £100,000 (or £25,000 internationally), the charges above this are explained in more detail below.
Investor – £9.99 per month
| Type of investment | Cost |
|---|---|
| UK shares/ ETFs | £7.99 |
| Funds and investment trusts | £7.99 |
| US shares | £7.99 |
| Other international shares | £19.99 |
| Dividend reinvestment | £0.99 |
| Regular investment | Free |
Funds Fan: £13.99 per month
| Type of investment | Cost |
|---|---|
| UK shares and ETFs | £7.99 |
| Funds and investment trusts | £3.99 |
| US shares | £7.99 |
| Other international shares | £19.99 |
| Dividend reinvestment | £0.99 |
| Regular investment | Free |
Super investor – £19.99 per month
| Type of investment | Cost |
|---|---|
| UK shares and ETFs | £3.99 |
| Funds and investment trusts | £3.99 |
| US shares | £4.99 |
| Other international shares | £9.99 |
| Dividend reinvestment | £0.99 |
| Regular investment | Free |
Fees and charges
What can I invest in with interactive investor?
interactive investor has thousands of options when you’re choosing the companies to invest in, with over 40,000 UK, US and international shares on 17 global exchanges.
There are over 3,000 funds to choose from, alongside ETFs, bonds, gilts and VCTs.
General investment
interactive investor’s general investment options, such as the trading account, joint trading account and company account, allow you to invest without an upper limit.
Key features include:
- You can withdraw your money whenever you like
- 40,000 UK and global stocks to choose from
- You can manage your money in up to 9 currencies
It’s worth noting that you may need to pay capital gains tax on your profits. Generally, people would turn to the ISA before general investment if they haven’t used their ISA allowance for the year.
ISAs
interactive investor’s ISA options, including the stocks and shares ISA and the junior ISA (JISA), allow you to invest up to your tax allowance (£20,000 for the 2019/2020 tax year) tax-free. The annual JISA allowance for 2019/2020 is £4,638 while the 2020/2021 allowance is £9,000.
Key features include:
- You can use your ISA allowance
- No withdrawal penalties
- Generates impartial intelligence daily to help you make decisions
- You choose your own investments – if you want some help then the interactive investor’s investment experts provide ready-made portfolios and fund recommendations
SIPP
interactive investor’s self-invested personal pension allows you to invest long term with the benefit of tax relief on your contributions. It is suitable for experienced investors who are happy to make their own investment options. Your pension is locked until you turn 55, after which you have several drawdown options.
Key features include:
- Freedom to choose and manage your own investments
- More than 40,000 UK and global stocks
- Expert tips and information, including impartial information, selected funds, ready-made portfolios and newsletters
- Invest in multiple currencies
- Fixed fees. You can add the SIPP for £10 extra per month
How do I decide what to invest in with interactive investor?
interactive investor offers several options for building your portfolio, depending on how much help you want in choosing what to invest in and your risk appetite.
- Quick-start funds. interactive investor has created three ready-made funds to get you started. The funds are categorised by risk appetite, allowing you to choose one that suits you.
- ii Super 60. This is a wide range of active and passive funds, investment trusts and ETFs. These have a good track record and cover a range of regions. You can choose between risk appetites and if you’re not sure what to go with, there is a huge host of information on the different options available on the website.
- Trading tips and ideas. interactive investor regularly puts together inspiration, tips and ideas in the form of videos and articles to help you make investment decisions.
Is interactive investor safe?
interactive investor is a secure company that has been managing investments since 1995. The company is regulated by the Financial Conduct Authority (FCA). Your money is covered by the Financial Services Compensation Scheme up to the value of £85,000 if interactive investor were to go bust. This does not cover your money in the event that your investments go down in value.
What can I do with the interactive investor app?
The mobile app allows you to trade, get quotes and manage your investments on the go. It uses Face and Touch ID for security.
Features of the iOS and Android apps include:
- Trading. You can access all the investment options that are accessible on the web app.
- Orders. You can see the status of all of your orders and can close or cancel orders.
- Funding. Allows you to see summaries of your accounts and add more funds.
- Quick quotes. Obtain stock quotes, view price charts and save stocks for later.
- Newsfeed, watchlist and market overview. Helps you stay up to date with the news, have a list of stocks to keep an eye on and shows you the latest market developments.
- Security. It uses Face and Touch ID for a quick log-in.
How good is interactive investor?
In terms of the options available and the opportunity to have full control over your investments, interactive investor is a good platform. If you’re new to investing then it could be a little overwhelming, but once you’ve spent some time reading the articles, you’re likely to find it easier to understand. The flat fees take some of the guesswork out of investing.
Pros and cons of interactive investor
Pros
- Takes flat fees instead of a percentage of your investments (but the fees can outweigh your profits if you only have a small amount to invest)
- Gives a lot of detail and options when investing – good for experienced investors
- Great deal of information and inspiration on trading to help you make decisions
Cons
- Quite a lot of fees for services, such as share certificates and postage
- Overwhelming number of options if you’re new to investing
- Fees might outweigh profits if you only have a small amount to invest
Our verdict
interactive investor is a really comprehensive platform for investing. The term “interactive” is key here, as you’ll need to keep an eye on your investments and know when to make adjustments. It offers plenty of useful information to give you more insight into what you are doing. On its website, interactive investor claims to be suitable even if you’re a beginner, but we reckon it’s more suited to the experienced investor.
If you have a small amount to invest, the fees might outweigh the profit you make, so it’s worth taking a look at alternative platforms.
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Updated April 3rd, 2020
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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