Best stocks and shares ISA in the UK

For UK investors, using a stocks and shares ISA is a bit of a no-brainer. It allows you to invest as you would normally, but any potential gains or dividends are shielded from the taxman. Any money you take out of your ISA won’t count as income either, so it’s a fantastic wealth-building tool.

Once you’ve learnt about the glorious benefits of using a tax-efficient ISA, the next step is choosing the best stocks and shares ISA to suit your goals. We’ve tested more than 15 platforms offering investment ISAs and here are our top picks.

Our top picks for stocks and shares ISA platforms

Best for customer satisfaction

Finder Award

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93% would recommend

No commissions for funds
Expert research and insights
Low 0.45% fee for ISA

Best for number of investments

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Get £100 trading credit

Flat monthly fee
40,000+ investments
Ready-made ISA portfolios

Best for low fees

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£25 welcome bonus

DIY and ready made portfolios
Easy to use
No extra cost for a S&S ISA

Best stocks and shares ISAs in the UK, April 2024

• IG: Best ISA for ETFs
• CMC Invest: Best ISA for US shares
• InvestEngine: Best ISA for low fees
• Hargreaves Lansdown: Best ISA for customer satisfaction
• Trading212: Best ISA for 0% commission
• Freetrade: Best ISA for beginners
• interactive investor: Best ISA for investment choice
• Nutmeg: Best ISA for ready-made portfolios
• Vanguard: Best ISA for index funds

Our top pick for ETFs

★★★★★

Finder score

Read IG stocks and shares ISA's review

Capital at risk

When it comes to exchange-traded funds (ETFs), IG is hard to beat.

ETFs let you invest in a whole basket full of stocks with one single investment. This gives you some automatic diversity and it can reduce your commissions by trading less than if you were investing in individual stocks and shares.

The IG share dealing ISA lets you choose from over 5,000 ETFs. So there’s plenty of options for you to stick your teeth into. One thing to be aware of is that with IG, more is better. The investing commissions drop drastically if you make 3 or more investments each month (and this also wipes out the quarterly custody fee of £24).

• Pros and cons

  Pros

  • Great learning resources and a demo account
  • Massive choice of over 13,000 investments including ready-made portfolios
  • Fee discounts for active investors

  Cons

  • Only cheap when investing regularly
  • Choice of options, tools, and markets might overwhelm newbies
  • Quarterly platform fee of £24 if you make less than 3 trades per quarter

• More details

  Frequent trader rate	UK: £3 US: £0 EU: 0.1% (min €10)
  Foreign exchange fee	0.5%

ISA fee	0.5%
Price per trade	UK: £8 US: £10 EU: 0.1% (min €10)
Min. initial deposit	£250

Read IG stocks and shares ISA's review

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Our top pick for US shares

★★★★★

Finder score

Read CMC Invest flexible stocks and shares ISA's review

Capital at risk

CMC burst onto the UK investing scene in late 2022, and it's come a long way. We selected CMC Invest as our best stocks and shares ISA for US shares because you invest in over 3,000 US stocks commission-free.

On top of this, you can also hold a USD currency account to help lower your FX fees and deal with less currency fluctuations. The CMC Invest app also has plenty of other features for ISA investors like 2% uncapped interest on cash, ESG ratings, and analyst ratings.

When trying out the flexible CMC Invest ISA, the only major downside is that it costs £10 per month as part of the “Plus” plan. This could provide good value if you’ve built up a large ISA portfolio over the years, but it’s more expensive than some other providers for smaller portfolios.

• Pros and cons

  Pros

  • No minimum deposit
  • Free to open a Core account
  • 0% commission on trades
  • Over 3,000 investments
  • 2% uncapped interest paid on cash in all account plans

  Cons

  • Limited range of UK stocks
  • Only US and UK stocks available
  • Costs £10 per month to use an ISA with Plus plan
  • Stock analysis reserved for Plus customers
  • No SIPP yet

• More details

  Frequent trader rate	N/A
  Fractional shares
  Foreign exchange fee	0.5%
  FCA regulated

ISA fee	£10 per month
Price per trade	£0
Min. initial deposit	£0
Offer	Get your first 3 months free when you upgrade to Plus plan. T&Cs apply.

Read CMC Invest flexible stocks and shares ISA's review

Capital at risk

Our top pick for low fees

★★★★★

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We chose InvestEngine because when it comes to low fees, it’s hard to beat free.

InvestEngine is a platform that only lets you invest in exchange-traded funds (ETFs), which is limiting. But for those of you who want to build an ETF portfolio, it costs nothing to open and hold a DIY stocks and shares ISA with InvestEngine. There’s also no commission when buying or selling ETFs.

Although the DIY option is free (where you choose investments yourself), there is a 0.25% fee if you want an expertly managed portfolio. However, this fee is competitive with most other robo-advisors and platforms offering ready-made portfolios.

• Pros and cons

  Pros

  • DIY and ready made portfolios
  • Easy to use
  • No extra cost for a S&S ISA
  • Low fees compared to other robo-advisors
  • The DIY option is one of the cheapest ways to invest
  • Ethical options and a great ETF screener

  Cons

  • Percentage fees can work out expensive for large managed portfolios
  • You can only invest in ETFs
  • The risk questionnaire uses jargon that might confuse newbies
  • Few learning resources and tools
  • Lack of choice for managed portfolios
  • £100 initial minimum investment

• More details

  Frequent trader rate	£0
  Fractional shares
  Foreign exchange fee	0%

ISA fee	Managed portfolios are 0.25%
Price per trade	£0
Min. initial deposit	£100
Offer	Top-up or transfer to InvestEngine by 30/04/24 and receive a bonus of up to £2,500 (Capital at risk, T&Cs apply)

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Our top pick for customer satisfaction

★★★★★

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We surveyed customers of the major platforms in the UK and Hargreaves Lansdown (HL) was top for customer satisfaction, making it a winner in the 2023 Finder Share Dealing Customer Satisfaction Awards.

86% of respondents in our survey said they’d recommend HL to a friend. It’s known for great service and great features - none of which comes cheap. Also, it’s worth pointing out that this research was carried out based on the overall service (it wasn’t ISA specific).

• Pros and cons

  Pros

  • Wide range of accounts
  • No platform fee for some accounts
  • Free fund trading
  • Great customer service reviews
  • Excellent mobile app
  • Discount for regular investors

  Cons

  • Expensive to buy or sell shares
  • Fee structure is slightly complex
  • No demo account
  • Some investors may not need all the features
  • As a listed company, HL has to please shareholders

• More details

  Frequent trader rate	£5.95
  Fractional shares
  Foreign exchange fee	1%

ISA fee	0.45% per year
Price per trade	£11.95
Min. initial deposit	£100

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Our top pick for 0% commission

★★★★★

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Read Trading212 ISA's review

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We chose Trading 212 because along with charging no commission to buy or sell over 12,000 global stocks and exchange-traded funds (ETFs), it offers some additional noteworthy features.

It’s free to open and hold a Trading 212 stocks and shares ISA and you can invest in fractional shares with as little as £1, and the 0.15% foreign exchange (FX) fee is one of the lowest on the market.

There are also some useful social features like “Pie” (what Trading 212 calls portfolios) copying and the Social Feed, which lets you see what other investors paying no commission are up to.

• Pros and cons

  Pros

  • Free to use – there aren’t any fees for trading with Trading 212.
  • Can be used in the web browser and on a mobile app.
  • Practise mode allows you to give it a go without putting down any money.
  • Loads of educational tools and guides to teach you more about trading.

  Cons

  • No personal pension, lifetime ISA or junior ISA.
  • The tutorial for demo mode isn’t comprehensive, you do need to have a little play around to work it out.

• More details

  Frequent trader rate	N/A
  Fractional shares
  Foreign exchange fee	0.15%

ISA fee	£0
Price per trade	£0
Min. initial deposit	£1

Read Trading212 ISA's review

Capital at risk

Our top pick for beginners

★★★★★

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Read Freetrade stocks and shares ISA's review

Capital at risk

We chose Freetrade as our best stocks and shares ISA for beginners because it’s simple to set up an account and the app is excellent.

Another great thing about the Freetrade investment ISA is that there’s no commission for buying or selling stocks and you can invest with as little as £2.

Experienced investors might find the Freetrade ISA to be too simplistic, but we think that for beginners, it will hit the mark. There’s over 6,000 stocks and exchange-traded funds (ETFs) to choose from and the flat fee structure means you pay the same amount no matter how big your portfolio grows.

• Pros and cons

  Pros

  • Easy to sign up
  • 0% commission on trades
  • Option to invest in an ISA
  • Easy to navigate app and buy stocks

  Cons

  • The graphs and charts aren’t very helpful
  • Not much data or research to help you decide
  • ISA option isn’t free
  • Some stocks are hidden behind a paywall

• More details

  Frequent trader rate	N/A
  Fractional shares
  Foreign exchange fee	0.59%
  FCA regulated

ISA fee	£5.99 per month
Price per trade	£0
Min. initial deposit	£0
Offer	Get a free share worth up to £100 when you open an ISA. ISA rules & terms apply.

Read Freetrade stocks and shares ISA's review

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Our top pick for investment choice

★★★★★

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Whether you’re looking for a wide range of assets, thousands of stocks to choose from, ready-made portfolios, or access to loads of ethical options - interactive investor (ii) has you covered.

We picked this as our best stocks and shares ISA for investment choice because it has an unparalleled selection of assets (over 40,000). Also, instead of leaving you to flounder within its supersize investment pool, ii does an excellent job providing insights and research to help you find the right assets for your goals.

The only drawback with ii is that the share dealing commissions are higher than some other options and the flat monthly fee for the plans will be best value if you’ve a large portfolio.

• Pros and cons

  Pros

  • Flat monthly fee is good value for large portfolios
  • Massive choice of investments
  • A platform designed for every type of investor
  • Lots of account choices
  • Invest online or with the ii app

  Cons

  • Platform fee is expensive for small portfolios
  • Share dealing charges are quite high
  • Free monthly trade(s) with premium plans
  • Cheapest plan has a maximum portfolio size
  • Adding a SIPP costs more

• More details

  Frequent trader rate	£0
  Fractional shares
  Foreign exchange fee	1.5%

ISA fee	From £4.99 a month
Price per trade	£3.99 (with one free trade per month)
Min. initial deposit	£0
Offer	Get £100 free trading credit when opening a Trading Account by 30 April. Capital at risk. T&Cs apply.

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Our top pick for ready-made portfolios

★★★★★

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Read Nutmeg stocks and shares ISA's review

Capital at risk

If you don’t want to pick your own ISA investments, robo-advisors like Nutmeg will build and manage a portfolio for you.

Nutmeg was one of the original robo-advisors to hit the UK, and it has the widest choice of ready-made investment options we’ve seen.

In total, there are 30 portfolios to choose from across a range of risk levels and investing styles (fixed allocation, socially responsible, fully managed, smart alpha). The major drawback with Nutmeg is that the fees are slightly higher than some other robo-advisor ISAs.

• Pros and cons

  Pros

  • Quick to set up and easy to use (both app and desktop)
  • Gives you a global and diverse portfolio
  • Choice of different risk profiles
  • Option to invest in socially responsible portfolios

  Cons

  • Not the cheapest fees
  • Not able to invest in individual stocks

• More details

  Frequent trader rate	N/A
  Fractional shares
  FCA regulated

ISA fee	No fees to set-up or exit
Price per trade	N/A
Min. initial deposit	£500

Read Nutmeg stocks and shares ISA's review

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Our top pick for index funds

★★★★★

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Read Vanguard's review

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We picked Vanguard as our best stocks and shares ISA for index funds because not only did Vanguard invent the whole concept of index funds, its ISA also has a low annual percentage cost of 0.15%.

There are around 75 fund options, ranging from broad index-tracking funds, to newer additions like target date retirement funds, LifeStrategy funds (a fund made up of multiple funds), and ESG index funds - covering both equities and bonds.

You can pick your own funds with the Vanguard ISA, or if you prefer, you can opt for the Vanguard Managed ISA. With this, the expert team will pick and manage a portfolio for an added fee of 0.3%, which is cheaper than many robo-advisors.

Whether you go for the Managed ISA or not, the key downside with Vanguard ISAs is that you’re limited to Vanguard funds only, and you can’t buy individual stocks or other investments.

• Pros and cons

  Pros

  • Built for new and experienced investors
  • Start with a £100 monthly direct debit or a £500 lump sum
  • Choice of ready-made portfolios and DIY portfolios

  Cons

  • No option for share trading
  • You can only invest in Vanguard funds
  • No app

• More details

ISA fee	0.15%

Read Vanguard's review

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Best trading app providers for customer satisfaction 2024

We asked people who’d used a share dealing platform within the previous 12 months to rate their satisfaction with the service they received and whether they’d recommend the provider to a friend. Our independent survey of 750 share dealing customers was carried out in December 2023.

We have shown both survey results for the brands listed in the table below and used these ratings to decide the winners of our awards. Where there was a draw on the satisfaction score, we used the “would recommend” percentage as a tie-breaker.

Next steps once you’ve found the best investment ISA

Once you’ve decided on the right investing platform to hold your stocks and shares ISA, the next step is to sign up and open a share trading account.

To make the process as smooth as possible, you’ll want to have your bank and personal details to hand (including your NI number). Some of the best trading apps will be able to get you up and running within minutes, but some may take a little longer.

If you’re looking to make your first investment but don’t know where to start, we have an investing for beginners hub with plenty of guides for first-time investors like you.

Frequently asked questions

• Who is the best stocks and shares ISA provider?

  There’s no single best ISA provider because it depends on the type of investor you want to be. This is why we’ve organised our top stocks and shares ISA into different categories to help you choose.

• Are stocks and shares ISAs worth it?

  Definitely. Using a tax-efficient account like this means protecting most of your gains from the taxman. If you don’t use a stocks and shares ISA, you may have to pay capital gains tax (CGT) on anything over £6,000 and dividend tax on any income over £1,000.

• How much can you put into a stocks and shares ISA each year?

  You can invest up to your full £20,000 allowance each tax year in your stocks and shares ISA. However, if you pay into another type of ISA during the same tax year – a cash ISA, for example – this will reduce how much you can invest during that tax year (by the amount you save in another personal ISA).

• How many stocks and shares ISA can you open?

  You can open as many stocks and shares ISAs as you like, but you can only pay into one stocks and shares ISA each tax year. Also, if you carry out an ISA transfer (using an official ISA transfer service), this doesn’t count as paying into a new ISA.

• Is Vanguard a good ISA?

  The Vanguard stocks and shares ISA is pretty cheap, but it’s limiting. You can only use it to invest in index funds and ETFs owned by Vanguard. You can’t invest in individual stocks and shares or pick funds from other companies.

• What is the best performing managed ISA?

  It’s hard to compare because it depends on the timeframe you’re looking at. Also, different ready-made portfolios have different objectives. Some are lower risk, in an attempt to minimise any potential losses, but this usually means lower returns. The best returns usually come from taking on the most risk, which isn’t something everyone is comfortable with.

• Should I get an ISA now or wait?

  This is completely up to you. However, you only get a fixed allowance to use each year and it doesn’t roll over. Also, the ISA allowance isn’t guaranteed and could be lowered or removed completely if the government decides to in future years, which is why people say “use it or lose it”.