Interactive Investor Review 2024

Why choose Interactive Investor

Interactive Investor is a UK-based investment service provider regulated by the top-tier FCA.

Its trading platforms are user-friendly and well-designed. Deposit and withdrawal are easy, fast and mostly free. If you need phone assistance from customer service, they answer quickly. It is a good choice for beginner investors.

On the negative side, Interactive Investor‘s product portfolio only covers traditional products, like funds from the UK market and stocks. Furthermore, sophisticated charting and analytic tools are missing, and there is a monthly account fee.

BrokerChooser gave Interactive Investor a 4.6/5 rating based on analyzing 600+ criteria and testing via opening a live account.

Pros

User-friendly trading platforms
Fast and easy deposit and withdrawal
Interest on cash balances

Cons

Limited product portfolio
Basic charting and analytic tools
Monthly account fee

Fees

Score: 3.3/5

Interactive Investor has average trading fees, including low fund fees, while regular investments are free. On the other hand, there is a monthly account fee.

Pros

Low fund fees
Regular investments are free
Interest on cash balances

Cons

Monthly account fee

We compared Interactive Investor’s fees with two similar brokers we selected, AJ Bell Youinvest and Hargreaves Lansdown. These competitors were selected based on objective factors like products offered, client profile, fee structure, etc. See a more detailed comparison of Interactive Investor alternatives.

Low stock and ETF commission

Interactive Investor US stock fees are higher than the industry average. US stock fees are calculated as follows: £3.99 per trade

Interactive Investor stock and ETF commission
Broker	US stock
Interactive Investor	$5.0
AJ Bell Youinvest	$12.4
Hargreaves Lansdown	$14.9

However, it has favorable rates compared to its close competitors if you trade UK and US shares.

Low mutual fund commission

Interactive Investor Mutual fund fees are about half of the industry average. Mutual fund fees are calculated as follows: £3.99 per trade

Interactive Investor mutual fund commission
Broker	Mutual fund
Interactive Investor	$5.0
AJ Bell Youinvest	$1.9
Hargreaves Lansdown	$0.0

However its close competitors have much lower charges.
Please move your cursor over the dollar amounts to view the exact rundown of costs in pounds.

Low bond commission

Interactive Investor EU/UK government bond fees are less than half of the industry average. EU/UK government bond fees are calculated as follows: £3.99 per trade

Interactive Investor bond commission
Broker	EU/UK government bond
Interactive Investor	$5.0
AJ Bell Youinvest	$12.4
Hargreaves Lansdown	$14.9

It charges less than its closest competitors.
Please hover over the dollar amounts to view the exact rundown of costs in pounds.

No inactivity fee, no withdrawal fee

It charges no inactivity fee and there is also no withdrawal fee for standard withdrawals. Withdrawal fees are charged, though, if you make an instant withdrawal in sterling or euro, or if you make a regular withdrawal in currencies other than these.
On the negative side, there is a monthly account fee, which ranges from £9.99 to £19.99 depending on which service plan you use.

Interactive Investor inactivity, withdrawal and other fees
Broker	Inactivity fee	Withdrawal fee
Interactive Investor		$0
AJ Bell Youinvest		$0
Hargreaves Lansdown		$0

Currency conversion fees

Interactive Investor’s currency conversion fees are high for amounts under £100,000. You can either convert your cash manually or, alternatively, the system will do it for you if you want to buy a security in a currency other than what is on your account (e.g. if you want to buy a US stock quoted in dollars and you have your cash balance in pounds).

Interactive Investor currency conversion fee
	Currency conversion fee
£0 – £24,999	1.50%
£25,000 – £49,999	1.25%
£50,000 – £99,999	1.00%
£100,000 – £599,999	0.50%
£600,000 –	0.25%

Bear in mind that when using automatic conversion for trades that required multiple fills to execute, you will be charged the FX conversion rate applicable to each individual fill. This may result in a higher FX charge than would be calculated against the whole.

Check out this article for a detailed analysis of all the fees, commissions and other charges levied by Interactive Investor.

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