For UK ETF investing in 2026/27: Vanguard Investor wins on simplicity + low cost for portfolios under £250k (0.15% platform fee capped at £375/year, free ETF dealing). InvestEngine is essentially free for buy-and-hold ETF investing (0% platform fee, 0% dealing). Interactive Investor (II) wins on large portfolios (£4.99-£11.99/month flat fee, regardless of size — best above £100k). Hargreaves Lansdown has the broadest service but the highest platform fee (0.45% capped at £45/year for ISA, £200/year for SIPP) — premium for the UX. Trading 212 is free for ISA/GIA (no platform fee, no dealing fees) but limited fractional offering and ETF selection. Critical: check FSCS coverage and the platform's exit fees before committing.
Quick comparison table — platform fees for ISA
| Platform | Platform fee (ISA) | ETF dealing fee | Best for |
|---|---|---|---|
| Vanguard Investor | 0.15% (capped £375/yr) | £0 (Vanguard ETFs); £7.50 others | Vanguard ETFs, simplicity, under £250k |
| InvestEngine | £0 (DIY); 0.25% managed | £0 | Buy-and-hold ETF investors |
| Trading 212 ISA | £0 | £0 | Smaller portfolios, simplicity |
| Hargreaves Lansdown | 0.45% (capped £45/yr ISA, £200/yr SIPP) | £11.95 per trade | Broad service, large portfolios, UX |
| AJ Bell | 0.25% (capped £42/yr ISA, £120/yr SIPP) | £5 per trade (£3.50 for funds) | Balance of cost + service |
| Interactive Investor (II) | £4.99-£11.99/month flat | £3.99 per trade (1 free/month) | £100k+ portfolios — flat fee shines |
| Interactive Brokers (IBKR) | £0 platform fee on ISA | £1-£3 per trade (tiered) | Sophisticated traders, international ETFs |
| Fidelity Personal Investing | 0.35% (capped £45/yr ISA, £200/yr SIPP) | £0 (Fidelity funds); £7.50 ETFs | Fund-and-ETF mix, Fidelity ecosystem |
Figures are publicly published as of May 2026. Always verify current pricing on the platform's own website before opening.
By portfolio size — which platform fits
Under £20,000 portfolio
Trading 212 ISA or InvestEngine. Both are essentially free. The 0% platform fee is meaningful at small sizes (a 0.45% fee on £10k = £45/year, equivalent to several months of OCF).
£20,000–£250,000 portfolio
Vanguard Investor or AJ Bell. The 0.15% Vanguard fee caps at £375/year (when portfolio hits £250k). AJ Bell's 0.25% caps at £42/year for ISA — actually cheaper than Vanguard above ~£28k portfolio. Both excellent for the mainstream range.
£100,000+ portfolio
Interactive Investor (II) with flat £4.99/month becomes the cheapest. At £200k, II costs £60/year vs Vanguard's £300/year (capped) or HL's £45/year ISA + dealing fees on every trade. For SIPPs, II shines even more vs HL's £200/year cap.
Large/sophisticated traders
Interactive Brokers. Tiered pricing, sub-£1 per trade on lowest tier. Access to international ETFs not available on UK platforms. Complex UX but powerful.
By wrapper — which platform supports what
| Platform | ISA | SIPP | GIA | JISA | LISA |
|---|---|---|---|---|---|
| Vanguard Investor | Yes | Yes | Yes | Yes | No |
| InvestEngine | Yes | Yes | Yes | No | No |
| Trading 212 | Yes | No | Yes | No | No |
| Hargreaves Lansdown | Yes | Yes | Yes | Yes | Yes |
| AJ Bell | Yes | Yes | Yes | Yes | Yes |
| Interactive Investor | Yes | Yes | Yes | Yes | No |
| Interactive Brokers | Yes (limited) | Yes | Yes | No | No |
| Fidelity Personal Investing | Yes | Yes | Yes | Yes | No |
The Vanguard "captive ETF" advantage
Vanguard Investor charges no dealing fees on Vanguard ETFs (VWRL, VWRP, VUSA, VHYL, etc.). For an investor whose ETFs are 100% Vanguard, this saves £80-£200/year in dealing costs vs platforms with per-trade fees.
The trade-off: no third-party ETFs without paying a fee. Most retail investors only need Vanguard ETFs for global diversification — but if you want iShares Core, Invesco, or HSBC ETFs, the £7.50/trade fee makes Vanguard Investor less competitive.
The Interactive Brokers caveat
IBKR is the cheapest for sophisticated traders but the UX is complex and the platform isn't designed for beginners. The "Lite" tier has commission-free trading for US ETFs but UK ETF dealing fees apply. The "Pro" tier is the typical retail UK choice.
Key point for UK retail: IBKR's UK-domiciled entity (IBKR UK) offers an ISA with limited UK ETF selection. Most sophisticated traders use IBKR's GIA for non-ISA-eligible international ETFs and a separate platform (often Vanguard or HL) for the ISA.
FSCS coverage check
All platforms in this comparison are FCA-authorised UK entities with FSCS protection up to £85,000 per individual per firm for investment claims. That protects against firm failure or wrongdoing — not market losses.
For portfolios above £170,000 (potentially £85k + £85k spread across two FSCS-protected firms), some investors split across multiple platforms for FSCS coverage. Practically rare and rarely needed — CASS rules require client assets to be ring-fenced separately from firm balance sheets.
Common mistakes when choosing a platform
- Picking on platform fee alone. The total cost = platform fee + dealing fees × frequency + OCF on ETFs. A 0.45% platform with low dealing fees can beat a 0.15% platform with £7.50/trade dealing.
- Ignoring exit fees. Some platforms (notably HL) charge £25-£50 per ETF held when you transfer out. Check before opening.
- Choosing a platform without your needed wrapper. Need a JISA? Confirm the platform offers it.
- Switching too often. Transfer costs add up. Pick one platform and stick with it for 5+ years unless circumstances change materially.
What this page is NOT
This is not a "best platform" ranking. We don't earn commission from any of these platforms. The right choice depends on your portfolio size, trading style, wrapper preferences, and personal UX tolerance. Platform fees change. Verify current pricing before opening. See how we make money for our no-affiliate funding model.
Sources and methodology
Fee data taken from publicly published platform fee schedules and FCA Register entries as of May 2026. We do not have commercial relationships with any platform. The methodology page documents sources.
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Every page is reviewed against the editorial standards, written from primary sources, sourced openly, and corrected publicly. No affiliate revenue. No sponsored content. No paid placements.