interactive investor is cutting fees: Will you be better off?
From September, it will cost only £3.99 per trade when you’re buying or selling UK shares, US stocks, funds, and trusts on interactive investor (ii) – a significant cut from the current commission of £5.99.
The commission fee for non-US international shares will see an even bigger price slash, dropping by 50% from £19.99 to £9.99.
But other changes that ii’s announced will see monthly costs rise for some customers.
ii plan changes
Aside from the commission cuts, ii is also making some changes to the current plans.
Firstly, it’s expanding the portfolio limit of its cheapest “Investor Essentials” plan from £30,000 to £50,000. This means that for just £4.99 a month, investors get access to the platform’s full service and can hold up to £50,000.
Another change is with the “Investor” middle-tier plan. Currently, investors can add up to 5 family and friends for £5 extra a month. This will change so that customers on the plan will get 2 free members included.
However, there’s also a price increase. Although people on the Investor plan will soon get lower commissions and the ability to add people on for free, the monthly plan price will rise from £9.99 to £11.99.
When will the changes take place?
These changes come into effect from 1 September 2023.
Everything else about ii’s plans and pricing will stay the same.
You can see full details of the current features and prices in our interactive investor review.
For the latest popular stocks, see our guide that looks at the best shares to buy now across a range of exchanges, including the Nasdaq, New York Stock Exchange and London Stock Exchange, and the biggest indices, including the S&P 500 and FTSE 100.
