Interactive Investor Review 2023

Interactive Investor trading fees

Interactive Investor trading fees are average.

You can choose from three fee plans that differ based on the monthly account fee and the fees charged for trading certain products. In the Investor plan users are granted one, while in the Super Investor plan users are granted two free trades per month. The Pension Builder plan does not provide free trades unless it is upgraded.
The Pension Builder plan is a simple Self-Invested Personal Pension (SIPP) plan, which can be upgraded to also have an ISA, trading account, as many free Junior ISAs as the user has children and one free trade a month for £7 per month extra.
Moreover, Super Investor plan subscribers can access Interactive Investor's Friends and Family program for free, with which free Investor plan subscriptions can be gifted to up to five people.
Additionally, there is no commission charged on monthly purchases made using the regular investment facility. This applies to all plans; the minimum transaction value is £25. You can make up to 25 regular monthly investments per account. Eligible products are funds, popular shares, ETFs and investment trusts.
For UK Investors, Interactive Investor provides ISA and SIPP accounts. SIPP accounts are part of the Pension Builder plan which costs £12.99 a month.

*different fees apply to trades over £100,000
**trades over £100,000 are charged 0.04%
***trades over £25,000 are charged 0.1%
When it comes to fees, fund trades cover OEICs, Unit Trusts and Investment Trusts. Exchange-Traded Funds (ETFs) are treated as shares.
In this review, we calculated with the 'Investor' service plan.

We compared the fees at Interactive Investor with two similar brokers we selected, AJ Bell Youinvest and Hargreaves Lansdown. These competitors were selected based on objective factors like products offered, client profile, fee structure, etc. See a more detailed comparison of Interactive Investor alternatives.

Stock and ETF fees

Interactive Investor has generally low stock and ETF trading fees (commissions).

However, it has favorable rates compared to its close competitors if you trade UK and US shares.

Fund fees

Interactive Investor fund fees are low.

However its close competitors have much lower charges.
Please move your cursor over the dollar amounts to view the exact rundown of costs in pounds.

Bond fees

Interactive Investor has generally low bond fees.

It charges less than its closest competitors.
Please hover over the dollar amounts to view the exact rundown of costs in pounds.

Non-trading fees

Interactive Investor has low non-trading fees.

It charges no inactivity fee and there is also no withdrawal fee for standard withdrawals. Withdrawal fees are charged, though, if you make an instant withdrawal in sterling or euro, or if you make a regular withdrawal in currencies other than these.
On the negative side, there is a monthly account fee, which ranges from £9.99 to £19.99 depending on which service plan you use.

Interactive Investor's currency conversion fees are high for amounts under £100,000. You can either convert your cash manually or, alternatively, the system will do it for you if you want to buy a security in a currency other than what is on your account (e.g. if you want to buy a US stock quoted in dollars and you have your cash balance in pounds).

Bear in mind that when using automatic conversion for trades that required multiple fills to execute, you will be charged the FX conversion rate applicable to each individual fill. This may result in a higher FX charge than would be calculated against the whole.

How we ranked fees

We ranked Interactive Investor's fees as low, average or high based on how they compare to those charged by all the brokers reviewed by us.

There are two basic types of broker fees:

• Trading fees are charged when you trade and may include commissions, spreads, financing rates and conversion fees.
• Non-trading fees include charges not directly related to trading, such as withdrawal fees or inactivity fees.

Can you open an account?

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What is the minimum deposit at Interactive Investor?

The required Interactive Investor minimum deposit is $0.

However, as there is a flat monthly subscription fee to use the platform, you need to have this amount available on your account. Alternatively, you can set up a direct debit to pay monthly fees.

Account types

Interactive Investor has a variety of accounts available in the UK:

In this review, we tested the Trading Account.
In Ireland, only the Trading Account is available.

How to open your account

For UK residents, opening an account is a straightforward and fast procedure. Verification takes place online; if successful, you're done in about 10 minutes. However, there is no option to provide a non-UK address.
If, for any reason, online verification fails, you'll need to send in certified copies of your:

• proof of identity, e.g. passport or UK driver's license, and
• proof of residence, e.g. bank statement or utility bill.

In our experience, these copies are received and processed surprisingly quickly (1-2 business days). However, we had a hiccup with the verification process, so the documents that were posted were not immediately accepted by Interactive Investor. Following this, they didn't reply to our email for 14 days, but then they replied to our follow-up email the next day. It was an experience of extremes: Interactive Investor was either super responsive or extremely unresponsive.

Account base currencies

At Interactive Investor, you can choose from the following 9 base currencies:

Interactive Investor offers a great base currency selection when compared to its closest competitors.

Why does this matter? For two reasons. If you fund your trading account in the same currency as your bank account or you trade assets in the same currency as your trading account base currency, you won't have to pay a conversion fee.

A convenient way to save on currency conversion fees is by opening a multi-currency bank account at a digital bank. These usually offer bank accounts in several currencies with great currency exchange rates, as well as free or cheap international bank transfers. Opening an account only takes a few minutes on your phone.

Compare digital banks

Deposit fees and options

Interactive Investor charges no deposit fees.

Using a debit card, you can deposit money instantly up to £99,999. You can also send money via bank transfer. If you wish to transfer money in a currency other than GBP or EUR, you will need to contact Interactive Investor for details of the appropriate bank account where you should transfer the money.

A bank transfer can take several business days, while payment with a credit/debit card is instant. You can only deposit money from accounts that are in your name.

Interactive Investor withdrawal fees and options

Standard withdrawals in pounds and euros are free with Interactive Investor. Withdrawals can only be made via bank transfer.

You can only withdraw money to accounts in your name.

If you wish to make an urgent withdrawal in GBP or EUR, or if you want to withdraw money in any of the other currencies, then a flat fee of £15 is charged.

How long does it take to withdraw money from Interactive Investor? If your withdrawal request is submitted before 2 pm, your money can arrive the next day. Otherwise, it will take 2 business days. Urgent transfers arrive on the same day if requested before 2 pm. You can only withdraw money to accounts in your name.

How do you withdraw money from Interactive Investor?

• Once logged in, click the 'Cash and transfers' button in the top header
• Select 'Withdraw/transfer cash'
• Click 'Bank transfer'
• Add your bank account or choose from the list of accounts you previously added; click the 'Transfer' button next to the one you wish to withdraw the funds to
• Specify the amount, the investment account you want to withdraw money from, the withdrawal type (standard or urgent), and whether you want to set up a recurring withdrawal
• Tick the box to accept the conditions of the withdrawal and click 'Check and Preview'
• If all details are correct, click 'Confirm'

Interactive Investor has its own web platform, available only in English.

Look and feel

The Interactive Investor web trading platform is user-friendly and easy to navigate. The platform's customizability is limited though.

Login and security

Interactive Investor provides a safer, two-step login.

Interactive Investor requires two-step authentication when you log in to the web platform from a new device or browser and you have registered a mobile phone.The platform will send a verification code to your phone via text message.
However, you can choose to turn off two-factor authentication after logging in from a device for the first time, by ticking the option to remember your browser. You will not have to enter a code for another 30 days.

Search functions

The search functions are good.

You can search by typing a company's name or an asset's ticker, after which a relevant list of results appears. You can also search based on investment types or markets.
Search fields can be found in several places. For example, at the bottom of the page, or when you click the 'Research' > 'Find an investment' sections

Placing orders

You can use the following order types:

• Market
• Limit
• Stop Loss

If you are unfamiliar with some of these terms or want to learn more, read our overview of order types.

There are also order time limits you can use:

• Fill or Kill
• Good 'til date (GTD)

Alerts and notifications

You can set price alerts and notifications on the Interactive Investor web trading platform.

The range of alerts is very limited, though, as you can set alerts only for price movements.

Portfolio and fee reports

Interactive Investor has clear fee reports.

These can be found in the 'Portfolio' section.

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Interactive Investor rolled out a new mobile app in early 2021, which is a notable improvement from the previous mobile platform.

It is available only in English, for both iOS and Android. We tested it on Android.

Look and feel

The Interactive Investor mobile trading platform is user-friendly and has a very simplistic design.
Charting is very basic in the app,and unfortunately you cannot use any technical indicators, unlike on the web platform.

Login and security

Interactive Investor provides a safer, two-step login for its mobile platform.

You can log in using biometric authentication, which is a convenient feature.

Search functions

The search functions are good.

You can search in the same way as on the web trading platform.

Placing orders

You can use the following order types on the mobile trading platform:

• Market
• Limit
• Stop Loss

There are also order time limits you can use:

• Good 'til date (GTD)
• Fill or Kill

Alerts and notifications

You cannot set alerts and notifications on the Interactive Investor mobile platform.

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This selection falls behind competing brokers. Both AJ Bell Youinvest and Hargreaves Lansdown offer more stock markets to trade on.

Stocks and ETFs

Interactive Investor gives you access to European, Australian, some North American and some Asian stock exchanges.
The number of stocks and ETFs offered lags behind what its close competitors offer.

There are 16 markets available globally on the online platform. Additionally, the Swiss and the Swedish exchanges are available via phone orders.

Funds

Interactive Investor's mutual fund offer is great.

This selection is average compared to competing brokers.

Bonds

Due to the limitations of the trading platform, it is not easy to establish the number and range of bonds available to trade at Interactive Investor. We found only UK government bonds.

This selection is average compared to competing brokers.

We tested the research tools found on the web trading platform. The research tools are good and useful, but sometimes limited in their scope.
All research tools have nice and clean visuals. The drawback of the platform is that the charting tool and the analytic tools are quite limited in their data and customizability.

Trading ideas

Interactive Investor provides trading ideas.

These include several model portfolios. For example, their 'Low-cost growth portfolio' consists of 9 ETFs with different weights.
When it came to investment themes, we really liked the list called 'ii Super 60'. For each investment theme (emerging market equities, Sterling bonds, etc.), Interactive Investor's experts publish a list of investment options that they recommend based on past performance, costs, risks or liquidity. Usually they will suggest an ETF (if you prefer low costs) or different funds and trusts (if you focus on performance, blue chips, small caps, etc.) for each investment theme. These lists are updated regularly.
In addition, we especially liked that Interactive Investor occasionally interviews funds managers, asking questions about their funds, holdings and outlook. These videos are then uploaded to the website.

Fundamental data

Interactive Investor offers fundamental data.

You can find a wide range of useful information, from performance charts to financial reports from the past couple of years.

Charting

Interactive Investor has poor charting tools. You can use 10 technical indicators.

This is much fewer than what most brokers provide.

News feed

Interactive Investor has a detailed news feed that you can tailor to your own preferences.You can access the main news feed even without a trading account. This main news flow contains articles by resident authors of Interactive Investor and by some guest authors.
When logged in to your account, your news feed will automatically show all articles mentioning any of your portfolio holdings. You can also set various preferences on what news you would like to see, based on investment types, sectors, investment strategies, or even your favourite authors.
The news section of the fundamental data screen combines news, reports and company announcements.

Other research tools you may enjoy

There is a technical analysis tool called Technical Insight. It shows the patterns emerging on the charts of various currency pairs, indices and UK stocks. It also shows whether bullish or bearish price moves are expected. We found this tool to be quite useful.

Compare research pros and cons

You can contact Interactive Investor via:

• phone
• email

Interactive Investor's phone support was great. They connected in under a minute and we got relevant answers.
Email support is slow. You can only send secure messages via the platform, and it took more than 2 days to get answers, which were not always satisfactory.
We missed live chat and 24/7 availability. You can only contact customer service between 07:45 am - 5:30 pm GMT

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At Interactive Investor you can learn through the following ways:

• Demo account
• Platform tutorial videos
• General educational videos
• Webinars
• Quality educational articles

We liked that Interactive Investor frequently publishes articles about relevant topics in the investment world. Some of these are simple news items, but many of them have an educational angle as well. It is a plus that many of these articles are also available in video format.
Interactive Investor offers a free demo account as well, named 'Research Account'.

Interactive Investor has a dedicated Knowledge Center, where all education material is available in one place. There are also podcasts, a glossary, and a separate menu dedicated to kids, which is something not all brokers offer.

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Is Interactive Investor regulated?

Yes, it is regulated by the Financial Conduct Authority (FCA).

Is Interactive Investor safe?

To be certain that a brokerage is safe, we highly advise that you check two facts:

• how you are protected if something goes wrong
• the background of the broker.

How you are protected

This is important for you because the investor protectionamount and the regulator differ from entity to entity.However, this is not an issue in this case, as all customers are covered by Interactive Investor Services Limited.This means that due to the FCA regulation you get investor protection for an amount of up to £85,000.

Background

Interactive Investor is a direct-to-investor investment service, with headquarters in the United Kingdom. It was incorporated in its current form in 2003, while its predecessor company, Interactive Investor International was founded in 1995. The longer track record a broker has, the more proof we have that it has successfully survived previous financial crises.
Interactive Investor was recently acquired by abrdn, a publicly-listed company that is also part of the FTSE 100 index.

Find your safe broker

We recommend Interactive Investor for beginners and investors focusing on the UK market.

Below you can find links to all aspects of Interactive Investor in this comprehensive collection.

Lower fees, lower costs?

We detailed this in our Interactive Investor fees article.

What about the minimum deposit?

Our ultimate guide to the Interactive Investor minimum deposit is updated regularly.

How to start your Interactive Investor account?

Look no further than our evaluation of the Interactive Investor account opening.

How's their trading app?

Here's our expert view after checking the Interactive Investor trading app.

Is the quality of customer service satisfactory?

All you need to know about the Interactive Investor customer service.

Legit or scam?

Is Interactive Investor legit features all the key aspects you need to look at to see if a broker is safe and legit.

Free or premium? Or both?

A glance at actual costs and whether Interactive Investor is really free.

Is this broker good for beginners?

We checked it in Is Interactive Investor good for beginners.

Should you buy your silver bullets on Interactive Investor?

Research for silver bugs in the Silver buy on Interactive Investor guide

I want to trade options, are they available at Interactive Investor?

We explored the topic in Can you trade options on Interactive Investor?

What is the minimum account balance at Interactive Investor?

Check out the current account balance requirements at Interactive Investor in our What is the minimum account balance at Interactive Investor article.

Looking for commission and fees data for Interactive Investor?

We collected them in Interactive Investor commission and fees.

How do you withdraw money from Interactive Investor?

We tested it and collected the options and costs in How to withdraw money on Interactive Investor.