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AJ Bell Youinvest Review

Steve Miley

Steve Miley | October 21st, 2019

Overall Rating

AJ Bell Youinvest charges £9.95 per trade with a discounted £4.95 per trade rate for investors who place over ten trades a month. AJ Bell offers high-quality research driven by Morningstar as well as an impressive mobile app. Conversely, AJ Bell offers an average trading platform and basic educational resources.

Top Takeaways for 2019

After spending over 100 hours testing nine online stock brokers for UK share dealing, here are our top findings on AJ Bell Youinvest:

  • Founded in 1995, AJ Bell Youinvest has more than 224,600 customers, with assets under management exceeding £50.7 billion.
  • For traders who place more than nine trades a month, AJ Bell Youinvest offers competitive pricing. However, for casual investors, AJ Bell Youinvest is more pricey than discount leaders DEGIRO and IG.
  • Despite a limited selection of education, thanks to a thorough offering of research alongside an easy to use website and mobile app, AJ Bell YouInvest finished Best in Class (top 3) for beginner investors.
  • The AJ Bell mobile app is cleanly designed, offers market news, and all in all offers an enjoyable share dealing experience.
  • AJ Bell Youinvest underwhelms in its offering of trading platforms and tools. Compared to industry leaders such as Saxo Markets and IG, charting capabilities can be improved, as well as overall functionality.

Overall Summary

FeatureAJ Bell Youinvest
Overall 4 Stars
Offering of Investments 3 Stars
Commissions & Fees 4 Stars
Platform & Tools 3 Stars
Research 4 Stars
Education 3.5 Stars

Commissions & Fees

As with most brokers in the UK online share trading market, AJ Bell Youinvest offers a tiered fee structure based upon the number of trades placed in the prior calendar month.

Trading stocks, investment trusts, gilts, and bonds incur the following charge per trade; for 0-9 trades in the prior month, the charge is £9.95 per deal. This rate falls to £4.95 for ten or more trades placed in the previous month. Furthermore, unlike many of its competitors, AJ Bell Youinvest charges a discounted £1.50 per deal to trade in funds and unit trusts.

Together with the trading fees, share dealing, ISA, and SIPP accounts also incur charges of 0.25% per annum on holdings of shares (including investment trusts, ETFs, gilts, and bonds). There is a maximum charge of £7.50 per quarter for the Dealing and ISA accounts and a maximum of £25.00 for the SIPP account. Charges for holding funds are 0.25% from £0 to £250,000, 0.10% for holdings of £250,000 to £1 million and 0.05% for £1 million to £2 million. There is no charge for holding funds over £2 million, which is in line with the industry standard.

FeatureAJ Bell Youinvest
Share Trading: 0-9 Deals/ Month£9.95
Share Trading: 10-19 Deals/ Month£4.95
Share Trading: 20+ Deals/ Month£4.95
Annual Custody Fee: £0 - £250,000*0.25% (Max £7.50 per quarter)
Annual Custody Fee: £250K-£500K*0.25% (Max £7.50 per quarter)
Annual Custody Fee: £500,000 - £1m*0.25% (Max £7.50 per quarter)
Annual Custody Fee: £1m and over*0.25% (Max £7.50 per quarter)
ETFs - Fee£9.95
Investment Trusts - Fee£9.95
Telephone Dealing Fee*£29.95

Platforms & Tools

As with many UK online share-trading services, the AJ Bell Youinvest online platform provided is driven mainly by Morningstar data, with a tab view of charting, performance, key ratios, financials, broker sentiment, and news.

Charting: Charting tools are average at best. AJ Bell Youinvest offers ten different technical analysis indicators, the ability to compare shares to indices, and the option to add dividend and news events to a chart. All in all, I was left seeking additional features such as adding stock alerts based on price or volume. It is also worth noting that AJ Bell does not offer the ability to save an individual chart, or a chart template, which is a feature most brokers have.

Mobile Trading: The AJ Bell Youinvest mobile app is impressive. The app is smooth, functions well, and is visually appealing. Articles, videos, market news, company events, and more are available in the mobile app. The two primary downsides to the mobile app are a lack of technical analysis options and a lack of company information.

FeatureAJ Bell Youinvest
Desktop Platform (Windows) No
Web Platform Yes
iPhone App Yes
Android App Yes
Stock Alerts No
Charting - Indicators / Studies10
Charting - Drawing Tools1
Charting - Notes No
Charting - Display Corporate Events Yes
Charting - Stock Overlays Yes
Charting - Index Overlays Yes

Gallery

Research

The AJ Bell Youinvest research platform is driven primarily by third-party data from Morningstar. This research is similar to research offered by many of the major UK online share-dealing providers.

AJ Bell Youinvest offers the following research tools:

  • Quickrank and screener tools: Quickrank allows clients to screen various asset classes by different categories, such as geographical region, asset class, etc. Screener tools are available for individual shares, funds, ETFs and Investment Trusts.
  • Dividend Dashboard, Portfolio Manager, and X-Ray Vision tool: These tools allow traders to look at forecasted dividends for FTSE 100 companies, or breakdown the return of a model portfolio.
  • Financial Market Diary: The diary shows forecasted regional and global economic figures versus previous measurements.
  • In-House Content: AJ Bell Youinvest research also provides in-house written articles, videos, and a weekly podcast. Additionally, clients have access to the online version of Shares magazine, available for download as a PDF.

Overall, we found the availability of third-party research in line with the industry standard and were impressed by the quality and depth of the in-house research AJ Bell Youinvest provides. Going forward, offering research reports on individual shares would help bolster AJ Bell’s portfolio of research.

FeatureAJ Bell Youinvest
Research - Shares Yes
Research - CFDs No
Research - Funds Yes
Fund Research - Research Reports Yes
Research - ETFs Yes
Research - Bonds Yes
Portfolio Allocation Breakdown Yes

Gallery

Offering of Investments

AJ Bell Youinvest offers a standard slate of tradeable assets, including shares trading on 24 international exchanges. To trade internationally, the desired stock must be available as a CDI, or a minimum order size fulfilled. SIPP and ISA accounts are also available in addition to share dealing accounts.

FeatureAJ Bell Youinvest
Share Trading Yes
CFD Trading No
Funds Yes
ETFs Yes
Bonds - Corporate Yes
Bonds - Government (Gilts) Yes
Investment Trusts Yes
Spread Betting No
Advisor Services No

Education

We found the AJ Bell Youinvest education area to be below the industry average.

Much of the educational content is hidden in the FAQs section. Nevertheless, educational articles are available on a wide range of topics and are categorized by such titles as investment guidance, SIPP, ISA, Junior ISA, dealing account, dividend and corporate actions, IPOs and general.

FeatureAJ Bell Youinvest
Has Education - Share Trading Yes
Has Education - Funds Yes
Has Education - Retirement Yes
Client Webinars No
Client Webinars (Archived) Yes

Gallery

Final Thoughts

AJ Bell Youinvest provides a depth of in-house research, made available for only £4.95 per trade for frequent traders. Furthermore, this is backed up by a simple and efficient mobile application. Even despite its average trading platform and educational offering, AJ Bell Youinvest is worth a consideration for share dealing.

About AJ Bell Youinvest

AJ Bell was founded in 1995 and is one of the UK’s largest providers of online investment platforms and stockbroker services. The company has more than 224,600 customers, with Assets Under Management exceeding £50.7 billion. AJ Bell is a member of the London Stock Exchange. It is a profitable company with no debt. The current owners are the AJ Bell Youinvest management team, as well as institutional investors.

The AJ Bell Youinvest service was launched in 2000 as ‘Sippdeal’ and was the first online SIPP (Self Invested Personal Pension) provider in the United Kingdom. Since then, its services have expanded to include ISA, Junior ISA, and Dealing accounts. AJ Bell Youinvest also offers pre-built portfolios, a form of robo-adviser.


Steve Miley

About the author: Steve Miley Steve Miley is Director of Research, Europe, for StockBrokers.com and heads the annual UK Share Dealing Broker Review. With 25 years of experience in institutional financial markets, Steve has won multiple Technical Analyst Magazine awards, including "Best Independent Fixed Income" and "Best FX Research." Alongside StockBrokers.com, Steve is the founder of The Market Chartist where he provides market research for institutional clients.

All pricing data was obtained from a published web site as of 01/08/18 and is believed to be accurate, but is not guaranteed. The UK.StockBrokers.com staff is constantly working with its online broker representatives to obtain the latest pricing data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page.

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