Trading 212 is the cheapest trading platform with zero fees across the board. AJ Bell is the best all-rounder with the widest range of investment options and tax wrappers. Interactive Investor offers the best value for larger portfolios through flat fees. IG suits experienced traders who want professional-grade tools alongside commission-free share dealing.
The UK trading platform market has shifted dramatically over the past few years. Commission-free trading is now the norm rather than the exception, and the gap between budget fintechs and established brokers has narrowed considerably on features.
What has not changed is that the platform you choose has a direct impact on your long-term returns. Fees compound just like investment gains do, except in the wrong direction. A platform charging 0.45% annually on a £50,000 portfolio costs you £225 every year. Over 20 years, that fee drag could reduce your total wealth by tens of thousands of pounds.
This guide compares the seven best trading platforms available to UK investors in 2026, covering fees, investment range, account types and who each platform is best suited for.
How we chose these platforms
Every platform in this guide meets three non-negotiable criteria. They are authorised and regulated by the Financial Conduct Authority (FCA), protecting you under UK financial services law. They offer at least a stocks and shares ISA for tax-efficient investing. And they have a strong enough track record and financial backing to trust with your money over the long term.
Beyond those basics, we compared platforms across fees (platform charges, trading commissions, FX fees), investment range (stocks, funds, ETFs, bonds, trusts), account types (ISA, SIPP, LISA, Junior ISA), platform quality (web, desktop and mobile experience) and customer support.
Best trading platforms compared
| Platform | Platform Fee | Share Dealing | FX Fee | Investment Range | Account Types |
|---|---|---|---|---|---|
| Trading 212 | £0 | £0 | 0.15% | 13,000+ stocks/ETFs | ISA, GIA |
| AJ Bell | 0.25% (capped) | £1.50-£9.95 | 0.75% | 16,000+ shares, 4,000 funds | ISA, SIPP, LISA, JISA |
| Interactive Investor | From £5.99/mo | £3.99 (Core) | 0.75% | 40,000+ investments | ISA, SIPP, JISA |
| IG | £0 (3+ trades/qtr) | £0 UK/US | 0.7% | 12,000+ shares, 2,000 ETFs | ISA, SIPP, GIA |
| Freetrade | £0 | £0 | 0.99% (Basic) | 7,000+ stocks/ETFs/funds | ISA, SIPP, GIA |
| Hargreaves Lansdown | 0.45% (capped £45) | £0 funds/£11.95 shares | From 1% | Widest range in UK | ISA, SIPP, LISA, JISA |
| InvestEngine | £0 | £0 | None | ~550 ETFs | ISA, SIPP, GIA |
1. Trading 212: best for zero-fee trading
Trading 212 has grown to over 4.5 million funded accounts and more than £25 billion in client assets, largely on the strength of one simple offer: genuinely free trading.
There are no platform fees, no trading commissions and no minimum deposit. You can buy fractional shares from £1, giving you immediate access to expensive stocks without needing hundreds of pounds per share. The 0.15% FX fee on non-GBP investments is the lowest of any major UK platform.
The Pies feature lets you build custom portfolios with target allocations that automatically rebalance when you deposit money. This turns what would otherwise be a DIY platform into something approaching a robo-advisor, without the management fee.
The main limitations are the lack of mutual funds, bonds and a SIPP. If you only need stocks and ETFs in an ISA, those gaps are unlikely to matter.
Best for: Cost-conscious investors who primarily want stocks and ETFs. Ideal for regular monthly investors who benefit most from zero commissions.
Read our full Trading 212 reviewTrading 212 stocks and shares ISA (/trading-212-stocks-and-shares-isa/) guide.
2. AJ Bell: best all-round platform
AJ Bell is a FTSE 250 company with over 590,000 clients and one of the broadest investment ranges available. You can access over 16,000 UK and international shares across 24 markets, 4,000 funds, 3,500 ETFs and 400 investment trusts.
The fee structure rewards long-term holders. Platform fees are 0.25% for funds and 0.25% for shares and ETFs, with the share fee capped at just £42 per year. That cap makes AJ Bell exceptionally competitive for larger share portfolios. Fund trades cost £1.50, while share trades are £9.95 (or £1.50 through the regular investing service).
What really sets AJ Bell apart is its range of account types. It offers a stocks and shares ISA, SIPP, Lifetime ISA and Junior ISA, making it one of the few platforms where you can genuinely consolidate all your tax-efficient investing. The Dodl app provides a simplified version for beginners with a lower 0.15% fee and no trading charges.
AJ Bell received a Which? Recommended Provider award for 2025-26, scoring 78% for customer satisfaction.
Best for: Investors who want the widest range of investments and account types at competitive fees. Particularly good for anyone who needs a SIPP alongside their ISA.
3. Interactive Investor: best for larger portfolios
Interactive Investor is the UK’s leading flat-fee platform, and its new pricing from February 2026 makes it better value than ever. The key difference is that you pay a fixed monthly fee regardless of portfolio size, rather than a percentage that grows as your investments do.
The Core plan costs £5.99 per month and covers portfolios up to £100,000 with access to an ISA, SIPP and general investment account. UK trades cost £3.99 each. The Plus plan at £14.99 per month removes the portfolio cap, reduces FX fees and includes fee-free accounts for up to five family members.
With access to over 40,000 investments across 17 international markets, ii offers one of the most comprehensive ranges in the UK.
The flat-fee model becomes excellent value at scale. A £100,000 portfolio costs just £71.88 per year on the Core plan, compared to £250 at AJ Bell or £450 at Hargreaves Lansdown on their percentage models for funds.
Best for: Investors with portfolios above £50,000 who want to pay a predictable flat fee. Also excellent for families using the Plus plan to manage multiple accounts.
4. IG: best for experienced traders
IG is one of the UK’s most established trading firms, founded in 1974 and now a FTSE 250 company. It offers a powerful combination of commission-free share dealing and professional-grade trading tools that few competitors can match.
UK, US, European and Australian share trades are commission-free if you make at least three trades per quarter. Miss that threshold and you pay a £24 quarterly platform fee (£96 per year). For active investors, the platform is essentially free to use.
IG provides access to over 12,000 shares and investment trusts plus around 2,000 ETFs. The platform integrates advanced charting through ProRealTime, supports MetaTrader 4 for algorithmic trading and offers API access for custom strategies.
The FX fee of 0.7% is higher than Trading 212 but lower than most traditional brokers. IG also offers spread betting and CFD trading alongside standard share dealing, though these leveraged products carry significant risk.
Best for: Active traders who make at least three trades per quarter and want professional tools, advanced charting and access to leveraged products.
5. Freetrade: best beginner-friendly platform
Freetrade stripped its ISA subscription fee in September 2025, making the Basic plan genuinely free for ISA investing. Combined with commission-free trading and a clean, intuitive app, it has earned the Best Online Trading Platform award at the British Bank Awards for six consecutive years.
The platform offers over 7,000 investments including UK, US and European stocks, ETFs, investment trusts and (on the Standard plan) mutual funds and gilts. The Basic plan includes a free ISA and free SIPP with zero trading commissions.
The main cost consideration is the 0.99% FX fee on the Basic plan for non-GBP investments. Upgrading to Standard (£5.99/month) reduces FX to 0.59%, while Plus (£11.99/month) cuts it to 0.39%.
Freetrade is now owned by IG Group, providing strong financial backing. The 1.6 million user base makes it one of the most established app-first platforms in the UK.
Best for: New investors who want a simple, clean experience to get started. Also strong for UK-focused investors where FX fees do not apply.
Read our Trading 212 vs Freetrade
6. Hargreaves Lansdown: best for research and guidance
Hargreaves Lansdown manages over £172 billion in client assets, making it the UK’s largest investment platform by a significant margin. It offers the widest selection of investments available, covering funds, shares, ETFs, bonds, gilts, structured products and investment trusts.
Platform fees are 0.45% for funds (reducing above £250,000) and 0.45% for shares, capped at £45 per year. Fund trades are free, but share trades cost £11.95 each, the highest on this list.
Where HL justifies its premium pricing is through research quality. The Wealth Shortlist of recommended funds, expert market commentary and detailed fund analysis provide guidance that budget platforms do not attempt.
Best for: Investors who value in-depth research, fund recommendations and comprehensive customer support.
7. InvestEngine: best for passive ETF investing
InvestEngine offers something no other platform matches: a completely free DIY investing experience for ETF investors. Zero platform fee, zero trading commissions and zero FX fees (since all ETFs are priced in GBP).
The trade-off is a narrow focus. You can invest in around 550 ETFs, covering all major indices and sectors, but you cannot buy individual stocks, mutual funds, bonds or investment trusts.
The managed portfolio option charges 0.25% and builds a diversified ETF allocation based on your risk profile.
Best for: Passive investors who want a zero-cost ETF portfolio. Ideal for anyone following a simple global index tracker strategy.
Which platform is cheapest?
For stocks and ETFs: Trading 212 and InvestEngine are free at any portfolio size. AJ Bell caps share fees at £42/year. Interactive Investor’s flat £71.88/year beats percentage platforms above roughly £30,000.
For funds: InvestEngine (ETFs only) is free. AJ Bell charges 0.25%. HL charges 0.45%. Interactive Investor’s flat fee wins above approximately £25,000 in funds.
For FX-heavy portfolios: Trading 212 (0.15%) is cheapest by a wide margin. InvestEngine avoids FX entirely. Freetrade Basic (0.99%) and HL (from 1%) are the most expensive.
ISA or general account?
Every platform in this guide offers a stocks and shares ISA, and you should almost always use one. The ISA shelters your gains from capital gains tax (18-24%) and your dividends from dividend tax (8.75-39.35%), both of which apply in a general investment account.
With the £20,000 annual ISA allowance and the ability since April 2024 to hold multiple ISAs simultaneously, most investors can keep their entire portfolio within ISA wrappers.
For a detailed explanation, read our guide on (/stocks-and-shares-isa-explained/) or compare providers in our best stocks and shares ISA
What about SIPPs?
If you are saving for retirement, a Self-Invested Personal Pension (SIPP) provides additional tax relief on contributions. AJ Bell, Interactive Investor, Freetrade, Hargreaves Lansdown and InvestEngine all offer SIPPs. Trading 212 and IG do not currently offer SIPPs, though IG has been expanding its product range.
Frequently Asked Questions
Trading 212 and Freetrade are the most beginner-friendly platforms. Both offer zero fees, commission-free trading and clean mobile apps designed for new investors. Freetrade's interface is slightly simpler, while Trading 212 offers more investments and lower FX fees. If you are completely new, start with our guide on how to start investing in the UK (/how-to-start-invest).
Trading 212 and InvestEngine are the cheapest, both charging zero platform fees and zero commissions. InvestEngine is limited to ETFs while Trading 212 offers stocks and ETFs. For fund investors, AJ Bell at 0.25% is the cheapest full-service platform.
Yes. There is no limit on how many platforms you can have accounts with. Since April 2024, you can even hold multiple stocks and shares ISAs. Many investors use one platform for their ISA and another for their SIPP, or split between a free platform for core holdings and a premium platform for research.
All platforms in this guide are FCA-regulated. Your investments are protected by the FSCS up to £85,000 per provider if the platform fails. Investments are held in segregated accounts separate from the platform's own funds.
You can start with as little as £1 on Trading 212 (fractional shares) or £25 per month on AJ Bell. Freetrade has no minimum. Regular small investments are more important than waiting until you have a large sum.
In practice, the terms are used interchangeably in the UK. A trading platform is the software you use to buy and sell investments, while a broker is the company that executes your trades and holds your assets. Most modern providers combine both functions into one service.
Capital at risk. The value of investments can go down as well as up, and you may get back less than you invest. ISA and SIPP rules apply. Tax treatment depends on individual circumstances and may change. This guide is for informational purposes only and does not constitute financial advice.
