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Freetrade ReviewBestinvest Review
Written by Elizabeth Anderson
Edited by John Bringans
Fact-checked by Steven Hatzakis, Joey Shadeck
Your capital is at risk.
Bestinvest is an investment platform aimed at both beginner and experienced investors. Bestinvest is a good choice for those looking to invest small amounts, and I like that investors can speak to an investment coach for free through the platform – an offer unique to Bestinvest. The broker's junior pension is also great and features low minimum funding requirements. Bestinvest can also work out very low in fees and charges if you invest in US shares.
-
Minimum Deposit:
£50 -
ISA:
Yes -
SIPP:
Yes
Bestinvest pros & cons
Pros
- Free 45-minute investment coaching session.
- Low minimum investment for junior SIPP (junior pension).
- Free to buy and sell US shares.
- Pays interest of 4.4% on cash held in any account.
Cons
- 0.2% or 0.4% service charges to hold shares up to £250,000.
- Investment options not as extensive as other platforms.
- Some ready-made ‘expert’ fund fees are high at up to 1.5%.
Overall summary
| Feature |
Bestinvest
|
|---|---|
| Overall Rating |
|
| Charges & Fees |
|
| Investment Choices |
|
| Mobile App |
|
| Website |
|
| Ease of Use |
|
| Education |
|
Charges and Fees
Bestinvest’s trading fees are middle-of-the-road when compared to other brokers, at £4.95 each time you buy and sell UK shares or ETFs. Some brokers, such as eToro and XTB, offer free trading but other platforms are more expensive for share trading. Hargreaves Lansdown, for example, charges £11.95 per deal while Fidelity charges £7.50.
There is no discount if you trade shares frequently on Bestinvest. Because it’s free to buy and sell US shares, investors can buy shares in some of the world’s biggest companies, such as Apple and Alphabet (Google's holding company) with zero trading costs. It's worth noting that you’ll pay foreign exchange fees of 0.95%, but this is in line with what you'd pay at other brokers.
You’ll also pay service charges for holding shares or ETFs. This means costs can mount up if you hold a significant amount. If you hold £30,000 worth of US shares, for example, you’d pay service fees of £60 a year or charges of £120 a year for UK shares. Other rival platforms, such as Fidelity or Hargreaves Lansdown, do not charge service fees for holding shares in a general dealing account.
Be aware that Bestinvest SIPPs have a minimum service fee of £10 per month, excluding child SIPPs, which means you could pay more than the above service fees. There is no minimum service fee on ISAs, junior ISAs, or general investment accounts.
For newer investors – or those who don’t want to make active investment decisions – Bestinvest offers 19 ready-made portfolios. Ongoing charges start at a low 0.3% a year for a Smart portfolio that invests in a range of equities, bonds, commodities and property. However, the charges are as high as 1.5% for a sustainable ready-made fund that invests in ethical or ‘green’ assets and funds. These costs are in addition to an annual 0.2% service fee, which is reduced to 0.1% if you invest more than £500,000 and to 0% for amounts above £1 million.
There are no charges for buying or selling funds, so you only have to consider service fees.
Scenario pricing: When calculating annual share dealing costs, trading frequency and account balance are the two most important factors to consider. Assuming a £30,000 portfolio in a traditional, taxable share dealing account, here are five scenarios of how much Bestinvest would cost based on trade frequency:
- 5 trades per year = £144.75
- 12 trades per year = £119.40 - £179.40
- 36 trades per year = £238.20 - £357.60
- 120 trades per year = £654 - £714
- 3 fund trades per year = £60 or £120
| Feature |
Bestinvest
|
|---|---|
| Minimum Deposit | £50 |
| Share Trading: 0-9 Deals/ Month | £0 - £4.95 |
| Share Trading: 10-19 Deals/ Month | £0 - £4.95 |
| Share Trading: 20+ Deals/ Month | £0 - £4.95 |
| Annual Custody Fee: £0 - £250,000 | Up to £500 or £1,000 |
| Annual Custody Fee: £250K-£500K | £500 - £1,000 |
| Annual Custody Fee: £500,000 - £1m | £100 - £1,000 |
| Annual Custody Fee: £1m and over | £0 |
| Bonds - Corporate - Fee | £4.95 |
| Bonds - Government (Gilts) - Fee | £4.95 |
| ETFs - Fee | £4.95 |
| Investment Trusts - Fee | £4.95 |
| Telephone Dealing Fee | £30 |
What type of trader are you?
New to the world of investing? See my picks for the best UK trading platforms for beginners. More experienced traders should check out my guide to the best UK Trading Platforms for Active Traders. If you're looking to trade shares on the go, read my guide to the best UK stock trading apps.
Mobile Trading Apps
The Bestinvest mobile app is basic in design, but traders gain access to key functions such as buy and sell, and add cash. You can also link accounts to friends and family through the app, as well as open or transfer an account.
When you log in to the app, you see a summary of your portfolio and the percentage return over the past week to five years. You are navigated away from the app to the mobile website to view key information on stocks or funds. This includes charts to view historical performance and the ability to compare different investments. This is a little clunky; some of the best UK stock trading apps integrate these features directly within the app.
Once you’ve decided what you want to invest in, you are redirected back to the app to make a purchase. You can either buy now or via a limit order, where you only buy once the stock hits a specified price set by you.
Website
The website is not overly simple to navigate compared to the likes of eToro, CMC Invest, or Freetrade, which are very user-friendly for beginner investors.
However, if you are already familiar with investing or know what you want to invest in, then there is plenty of useful information on the Bestinvest website.
It’s easy to get investment inspiration through the website, particularly when it comes to funds. You’ll find a list of Bestinvest’s favourite funds, which it believes have the potential to beat their competitors. There’s also Bestinvest Spot the Dog – its guide to underperforming funds. This list of ‘dog funds’ is not freely available on the website. You have to register your details to access the lists, although you don’t have to be a Bestinvest customer to view them.
A helpful feature on the website is that you can filter investments by yield or ongoing charges, as well as filtering by investment type.
| Feature |
Bestinvest
|
|---|---|
| Web Platform | Yes |
| iPhone App | Yes |
| Android App | Yes |
| Stock Alerts | Yes |
| Charting - Indicators / Studies | 36 |
| Charting - Drawing Tools | 9 |
| Charting - Notes | Yes |
| Charting - Display Corporate Events | No |
| Charting - Stock Overlays | Yes |
| Charting - Index Overlays | No |
Investment Choices
There are around 1,680 funds, 1,330 shares, 420 ETFs and 255 investment trusts available through Bestinvest.
This is lower than the likes of rivals Interactive Investor, IG, Fidelity and Barclays. However, all the main asset classes and sectors are covered. If you’re new to investing or plan to hold investments for the long-term, we think there is still plenty for you on the Bestinvest platform. You have many diversified fund options to choose from, along with major UK and US shares. The low-cost ready-made smart portfolios mean you can also opt for diversified investment choices, if you like the idea of investing in assets such as property as well as stocks.
One thing to note is that Bestinvest does not offer direct bonds or Gilts, but instead offers funds with allocations towards bonds or Gilts.
For investors or savers who’d like a bit of guidance on their investing goals, you can speak to one of Bestinvest’s qualified financial planners for a free 45-minute coaching session. This can be a useful introduction to investing for beginners, or for more experienced investors it’s a chance to discuss managing risk and drawing a regular income from your investments.
Bestinvest also offers a more extensive Portfolio Health Check to existing clients for a one-off fee of £495. An adviser will review your existing investments or make a recommendation for an appropriate portfolio. This is a unique offering to most other brokers, although it is something you could probably do yourself with a bit of research without having to spend any money.
Bestinvest offers general dealing accounts, ISAs and SIPPs meaning you can invest in a tax-efficient way. Bestinvest is also one of just a few UK platforms offering junior SIPPs (a pension for children). There are no minimum amounts to open or transfer a junior SIPP, and you can pay in a minimum of £50 ad-hoc or regularly. This makes Bestinvest’s junior SIPP much more accessible than other platforms for those wanting to pay in small amounts. Fidelity, for example, requires a minimum lump sum of £1,000 (inclusive of tax relief) to be paid into a Junior SIPP.
| Feature |
Bestinvest
|
|---|---|
| Share Trading | Yes |
| CFD Trading | No |
| Funds | Yes |
| Research - ETFs | Yes |
| Bonds - Corporate | No |
| Bonds - Government (Gilts) | No |
| Investment Trusts | Yes |
| Spread Betting | No |
| Crypto Trading | No |
| Advisor Services | Yes |
Education
I found Bestinvest to be one of the best UK platforms for educational materials. There are numerous written guides explaining the ins and outs of investing. The Evelyn Partners Investment podcast, available on all major podcast platforms, also discusses current trends in global stock markets.
It’s also easy to book in a coaching session to help you navigate the platform and to learn the basics of the different types of investments available through Bestinvest.
| Feature |
Bestinvest
|
|---|---|
| Education (Share Trading) | Yes |
| Education (Funds) | Yes |
| Education (Retirement) | Yes |
| Client Webinars | Yes |
| Client Webinars (Archived) | Yes |
Are you new to investing?
We thoroughly tested 17 top U.K. brokerages to find the best choices for beginner investors. Read more in our guide.
Final Thoughts
Bestinvest is a very good broker that should appeal to a wide range of investors. Fees are competitive, particularly if you invest in funds or US shares, and the investment options are extensive.
Bear in mind that US shares cost more than UK shares. For example, Apple shares are currently more than $200 (£157) and on Bestinvest there is no option to do fractional trades so you have to buy whole shares. If you want to invest small amounts, you may be better looking at a broker that allows fractional share dealing, such as Trading 212, Freetrade, or Revolut.
The Bestinvest platform is relatively easy to use and the offer of a free 45 minute session with a financial coach can be a useful starting point for newer investors.
Bestinvest is also a great option for a Junior SIPP, as it is one of very few UK brokers offering children’s pensions and with a low entry point.
Finally, the fact it pays interest of 4.45% on cash sitting in any account makes Bestinvest a competitor to other types of savings accounts.
About Bestinvest
Bestinvest was founded in 1986 and is headquartered in London. The platform has been owned by Evelyn Partners (formerly called Tilney Smith & Williamson) since 2019. Evelyn Partners is a leading UK wealth management and tax planning firm with around 180,000 clients and £62bn of assets under management.
FAQs
Is Bestinvest covered by FSCS?
Like most legitimate investment platforms in the UK, Bestinvest is covered by the Financial Conduct Authority (FCA). Traders also benefit from protections afforded by the Financial Services Compensation Scheme (FSCS). The FSCS protects investors for amounts worth up to £85,000 with a regulated broker. So if your chosen investment platform goes out of business, you are protected up to the value of £85,000.
Does Bestinvest charge exit fees?
No, Bestinvest does not charge exit fees if you choose to close your account or transfer to another provider. As an incentive to encourage you to switch to Bestinvest, the platform is currently offering up to £500 towards exit fees you may be charged by other providers.
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Methodology
For the UK.StockBrokers.com Annual Review, we assessed, rated, and ranked 17 U.K. share dealing platforms over a 10-week time period. Each broker’s platforms and features were exhaustively tested by hand and graded on 53 different variables. In total, over 25,000 words of research were produced.
We thoroughly tested and compared features of prime interest to everyday investors, including but not limited to:
- Investment choices, such as whether the broker offers trading of shares, ETFs, funds, bonds, and CFDs; and offers SIPP and ISA accounts.
- The broker’s charges and fees for investing.
- Functionality and design of mobile apps and website platform, and a fluid experience moving between app and web.
- Usability of tools such as charting and watch lists.
- Market research, such as screening, news and analysis.
- Educational resources including tutorials, online courses, videos, webinars and articles.
Our rigorous data validation process yields an error rate of less than .001% each year, providing site visitors with quality data they can trust. Our lead researcher and writer, Elizabeth Anderson, has more than a decade’s experience as a financial journalist and market researcher. Elizabeth’s expertise is backed by a team of veteran fellow traders, data auditors, editors and project managers who work to ensure that UK.StockBrokers.com reviews and guides are the most unbiased and complete in the industry. Read more about our team.
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Show allAbout the Editorial Team
Elizabeth Anderson, lead writer and researcher, has been a financial journalist for more than a decade. In addition to her work with UK.StockBrokers.com, she has written extensively for major publications including BBC, The Times and Bloomberg. A keen investor herself, she is passionate about helping people understand finance and investing.
John Bringans is the Managing Editor of UK.StockBrokers.com. An experienced media professional, John has close to a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets. He holds a Bachelor’s Degree in English Literature from San Francisco State University, and conducts research on forex and the financial services industry while assisting in the production of content.
Steven Hatzakis is the Global Director of Online Broker Research for UK.StockBrokers.com and ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. Steven is an active fintech and crypto industry researcher and advises blockchain companies at the board level. Over the past 20 years, Steven has held numerous positions within the international forex markets, from writing to consulting to serving as a registered commodity futures representative.
Joey Shadeck is a Content Strategist and Research Analyst for UK.StockBrokers.com. He holds dual degrees in Finance and Marketing from Oakland University, and has been an active trader and investor for close to ten years. An industry veteran, Joey obtains and verifies data, conducts research, and analyzes and validates our content.