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
Trade value
Investor
Funds Fan
Super investor
£100,000 to £500,000
£40
£40
£36
Over £500,000
£70
£70
£66
Trade value
Investor
Funds Fan
Super investor
Over £100,000
0.04% of trade value
0.04% of trade value
0.04% of trade value
Trade value
Investor
Funds Fan
Super investor
Over £25,000
0.1% of trade value
0.1% of trade value
0.1% of trade value
Between 0.25% and 1.50% depending on the transaction value
Cash withdrawals are free for Sterling and Euro withdrawals, unless you require an urgent bank transfer in which case it is £15 and €30 respectively (for Sterling the cost is £25 if you are withdrawing over £100,000.)
All other currencies are detailed below.
Currency
US dollar
Canadian dollar
Australian dollar
Singapore dollar
Hong Kong dollar
Swiss Franc
Swedish Krona
Withdrawal charge
US$35
CA$45
AU$45
SG$50
HK$250
CHF35
Kr250
Service
Fee
Transfer investments from another provider
Free
Deposit a share certificate
Free
Holding funds
Free
Transferring investments to another provider
Free
Share certificate withdrawal
£35 + VAT per certificate
Failed payments (e.g. bounced payments and failed direct debits)
£25
Late settlement
£25 or currency equivalent + 15% above Bank of England Base Rate
Sell out fee (due to non payment)
£40 + trading commission
Paper documents
£3 + VAT per document
Contract notes sent by post
£1 + VAT per document
Registered post
£10
Valuation of holdings for probate
£10 + VAT per line of stock
VCTs processing charge
£30 per application
CREST personal membership account fee
£4.99 + VAT per month
Non UK resident
£3.99 per month
Non-personal accounts (such as company accounts and trust accounts)
£29.99 per month
Service
Fee
Set up
Free
Transfers in
Free
SIPP fee
£10 per month (in addition to service plan charge)
Transfer to another pension provider (UK)
Free
Transfer to another pension provider (overseas)
£500 + VAT
Pension sharing on divorce
£300 + VAT
Closing your SIPP
Free
Payment of death benefits
Based on time spend and complexity – typically between £200 and £500 + VAT
Pension drawdown fee
£10 per month (in addition to SIPP fee)
Single payment outside monthly payment date
Free
Changing between flexi-access and capped drawdown
Free
Additional amount allocated to capped drawdown
Free
Review of capped income drawdown
£50 + VAT
Uncrystallised funds pension lump sum
£50 + VAT
Small pots
£50 +VAT
Annuity purchase
£75 + VAT per transfer
Service
Fee
UK Stamp Duty
0.5%
Irish Stamp Duty
1%
UK PTM levy
£1
ITP levy
€1.25
Hong Kong transaction levy
0.0027%
Hong Kong trading fee
0.005%
Hong Kong Stamp Duty
0.1%
Singapore clearing fee
0.0325%
French Financial Transaction Tax
0.3%
Italian Financial Transaction Tax
0.1%
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.
A share is an investment in a company, which can offer the potential for large-scale returns.
No set-up fees or percentage-based custody charges
Get interactive investor’s lowest share dealing rate when trading online in the first 3 months
Use its mobile app to trade on the move
Buy and sell shares in the UK, US, Canada, Germany, Australia, Hong Kong and elsewhere
Unit trusts and open-ended investment companies (OEICs) are a collective investment.
Pool your money with other investors to invest more efficiently in bond and stock markets
Open-ended funds are where more shares are issued each time someone invests, and then sold when they exit
You may be charged an up-front fee and then ongoing annual management charges
Choose a trust that aligns itself with your goals and the risks you’re willing to take. interactive investor then decides which shares, bonds, property and other assets to invest in on your behalf.
Purchasing a share in an investment fund signs you up to buy an interest in all the companies it has invested in
Get interactive investor’s lowest share dealing rate when trading online in the first 3 months
Use its “Quickrank Tool” to find information, performance data and statistic about all 600+ of its investment trusts
Build your holdings by making investments from as little as £25 per month and avoid the hassle of deciding on the best time to buy
These are collective funds traded on the stock exchange.
Bought and sold in the same way as normal shares, but you won’t have to pay stamp duty as this has already been paid on the underlying investments held by the ETF
You will need to pay tax on profits made from investment in an ETF
These are typically low-risk fixed income investments.
Corporate bonds are given by corporations and gilts are bonds issued by the British government, to borrow money
There are various types of gilts but most will typically pay a fixed coupon biannually and mature on a set date in the future
All gilts and some corporate bonds are exempt from capital gains tax (CGT). However, you’ll still be liable to pay income tax on interest you earn, unless your bonds are held in an ISA
These are investments available to the public before they trade on the open market.
Introduced by companies to expand business, raise capital, pay down debt and finance other activities
You won’t have to pay commission on your investment
Exclusive IPOs available to interactive investor
Get access to the best deals from private company offers to investment trusts
This is investment that takes into consideration ethical, environmental, social and governance values as well as their potential financial returns.
Invest in projects that deliver positive change
Incorporates a range of strategies from listed equity funds through to private equity investments
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.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
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.
Frequently asked questions
No, interactive investor is not a financial advice service.
You may need to pay tax on any gains you make from buying and selling shares. This depends on your personal tax rate. If you haven’t used your allowance yet, you can invest up to £20,000 per year in the investment ISA, which will not be subject to tax. interactive investor’s pension has tax benefits which also depend on your personal tax rate.
Yes. The interactive investor app is available on iOS and Android.
If you’re an interactive investor customer, you can use the secure message function. Just go to your account and select “secure messages”. Email: interactivehelp@ii.co.uk Telephone from the UK: 0345 607 6001 Phoning from overseas: +44 113 346 2309
You can top up your account by debit card, bank transfer, internal transfer or by cheque.
Up to £85,000 of your investments are covered by the Financial Services Compensation Scheme.
interactive investor is majority owned by J.C. Flowers & Co, a private equity firm.
interactive investor is based in Manchester, with offices in London, Dundee and Leeds.
Hargreaves Lansdown
Best for beginners (Capital at risk)
Open an account, get some tips from the experts and trade anytime and anywhere when you download the app.
Zoe is a writer for Finder specialising in investment and banking. Zoe has a BA in English literature and several years of experience in writing about all things personal finance. She has a particular love for spreadsheets, having also worked as a management accountant. In her spare time, you’ll find Zoe skating at her local ice rink.
How likely would you be to recommend finder to a friend or colleague?
0
1
2
3
4
5
6
7
8
9
10
Very UnlikelyExtremely Likely
Required
Thank you for your feedback.
Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.
Advertiser Disclosure
finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which finder.com receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. finder.com compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.
Hargreaves Lansdown
IG
eToro
