In addition to our top picks, we tested and analysed 11 more brokers in the U.K. Here are our high-level takeaways for each.
AJ Bell - Charges are on the high side for those with large portfolios in mutual funds and those looking to execute one-off share deals; but AJ Bell’s new app, called Dodl, offers much lower fees and also offers a more slim-lined and user-friendly service. Educational and research materials are strong, too.
Barclays Smart Investor - Barclays Smart Investor offers a wide range of investments and accounts and is a good value for those with a midsize portolio who like flat fees. On the downside, it can be complicated to open an account as a non-Barclays bank customer, and you can’t buy or sell investments through the app if you don’t have a Barclays bank account.
Capital.com - Capital.com is a U.K. broker primarily known for CFDs (contracts for difference) and spread betting. While it previously offered the chance to buy and sell shares commission-free, you can no longer buy shares directly through Capital.com. Trading is limited to an unleveraged CFD account.
CMC Invest - CMC Invest offers commission-free trading of U.K.-listed shares and U.S. equities via a mobile app only. Though a newer entrant to the U.K. share dealing market and currently somewhat limited, it’s powered by global contender CMC Markets, making it likely that its offerings will expand.
Fidelity International - Fidelity offers thousands of investments to choose from and also offers financial advice for those wanting more direction. It's best suited to traditional investors who hold a range of accounts through the platform, enjoy the great research material available and who may also use Fidelity for financial advice. The platform can be expensive for those with portfolios of less than £20,000 and those with portfolios above £40,000.
Freetrade - Overall Freetrade is a great platform to help you get to grips with investing. Costs are low, and its user-friendly mobile app offers great investment inspiration. Sophisticated investors, however, may find that other platforms offer a wider range of investment options and tools.
Halifax - Charges at Halifax are in line with some other brokers, but more expensive than others. If you have a large investment portfolio you may benefit from the low annual management fee of £36. If you are new to Halifax, there may be a better platform for you that is cheaper and easier to open.
Hargreaves Lansdown - As the U.K.’s biggest investment platform for individual investors, Hargreaves Lansdown offers a wide range of investment choices for either beginners or seasoned investors. However, its fees are generally more expensive than rival brokers, which can become an issue for large investment pots.
Interactive Investor - The standout feature at Interactive Investor (ii) is its low flat-rate fees. Other investment platforms typically favour percentage fees for fund investing, although more brokers are now opting for flat fees. Our view is that Interactive Investor is a great platform for any investor, offering a wide range of investments for cheap prices on the whole.
Lloyds Bank - It's easy for current Lloyds Bank customers to open a Lloyds Bank Share Dealing investment account. But there are other platforms that are easier, more comprehensive and cheaper to use, including Halifax, which is also owned by Lloyds Banking Group.
Vanguard UK Investor - Vanguard U.K. Investor, part of one of the world's largest fund managers, is cheap and easy to use and will appeal to investors looking for inexpensive index funds for long-term investing. Its platform, however, reveals many shortcomings compared to leading brokers, particularly relating to the narrow investment selection and lack of mobile app.
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