To find a right broker for share dealing
, we spent seven months and hundreds of hours of assessing 12 different share dealing brokers based in the UK. Here, we will focus on two brokers and compare Alliance Trust Savings vs Interactive Investor.
Our comparison begins with the fees charged for dealing shares in the UK and being a client. The two main charges to focus on include the cost to place each trade alongside the monthly, quarterly, or annual management fee charged (varies depending on the type and size of your portfolio). We researched both to provide a single star rating for cost. Both Alliance Trust Savings and Interactive Investor are rated 4.00 stars.
Account charges aside, we can now compare features and tools investors want in their share dealing accounts. Access to the investments is important, and Interactive Investor supports ISA, ISA - Junior, SIPP and Spread Betting while Alliance Trust Savings supports ISA, ISA - Junior, SIPP and SIPP - Junior. Also, some investors require a high-quality charting experience, so the number of drawing tools and total technical indicators made available, as well as stock alerts, are considered. Interactive Investor trails Alliance Trust Savings by 1 total charting tools, with Alliance Trust Savings offering 1 and Interactive Investor offering 0. Interactive Investor offers its clients access to 11 different indicators (for example, volume) while Alliance Trust Savings has 10 available indicators, a difference of 1. Interactive Investor offers basic stock alerts while Alliance Trust Savings does not. Lastly, for researching mutual funds while share dealing, being able to view a research report can be helpful. Alliance Trust Savings and Interactive Investor both offer fund research reports.
Overall, between Alliance Trust Savings and Interactive Investor, Interactive Investor is the winner
Alliance Trust Savings Review
Interactive Investor Review