The best investing accounts for beginners are easy to use, cost-effective, and offer access to products that are well suited to novice investors such as ready-made portfolios, funds, and ETFs, as well as educational content.

We have split this guide to the best investing accounts for beginners into two parts, the first is for investment accounts that make most of the decisions for you called, “managed platforms” for beginners where you just need to decide what region you want to invest in and how much risk you want to take. The second part is for DIY investment platforms suitable for beginners, these brokers allow you to buy and sell individual shares, ETFs, funds so you can have complete control over what you invest in.

We have ranked managed platforms higher than DIY platforms as if you are completely new to investing it is very difficult to pick individual investments successfully. The key to successful investing is diversification which is one of the core offering that managed platforms offer.

Best Managed Investment Accounts For Beginners

In the UK, there are a number of good investment platforms for beginners that we have identified as suitable for anyone, whatever their experience level in investing. These include:

1. Nutmeg

Nutmeg is a ‘robo advisor’ that has over 100,000 customers across the UK. It offers a range of intelligent portfolios for investors that can be adjusted to suit your risk appetite and style. Investing with Nutmeg is a straightforward process. You simply choose what kind of account you want to open and then select your risk level. You then choose an investment style (the choices are: Fully Managed, Smart Alpha, Fixed Allocation and Socially Responsible). Nutmeg’s investment team will do the rest from there. The downside to Nutmeg is the lack of investment options compared to other providers. With this platform, there is not a lot of flexibility.

2. Wealthify

Wealthify is another robo advisor that offers a service that is well suited to beginner investors. With Wealthify, you simply choose what kind of account you want to open (ISA, SIPP, general investment account, etc.) and choose your investment style, depending on your risk tolerance. Wealthify then builds your plan and manages it going forward. One advantage of Wealthify is that you can start investing with just £1. On the downside, there are only a few investment options to choose from so like Nutmeg, there is not a lot of flexibility.

3. Vanguard

Vanguard is another option for beginners to consider. It’s an investment management company that offers a wide range of low-cost index funds and ETFs. One offering from Vanguard that is well suited to beginners is its ‘LifeStrategy’ range of funds. These are ready-made portfolios that combine a number of individual index funds into one fund portfolio, giving you access to thousands of shares and bonds in a single investment. The LifeStrategy funds come in five different risk variations – from cautious to aggressive. The downside here is that the platform only offers index funds and ETFs. It’s not possible to buy other investments such as shares.

Best DIY (Self-Managed) Investing Platforms for Beginners

There are plenty of good options in the UK for beginners who are looking to take a more hands-on approach to investing and manage their own portfolios. Platforms for these kinds of investors to consider include:

4. Interactive Investor

Interactive Investor is one of the largest UK brokers that has a user-friendly website. Through its website, investors can gain access to over 40,000 shares and 3,000 funds, as well as investment trusts, ETFs, and bonds. You can quickly search for stocks on the website where you will find quotes, charts and basic information on the stock and its sector and industry peers. Like Hargreaves Lansdown and AJ Bell Youinvest, it offers plenty of investment content for investors. On the downside, the website is a bit more simplistic, in terms of data and information, than other websites such as Hargreaves Lansdown and AJ Bell Youinvest.

5. Hargreaves Lansdown

Hargreaves Lansdown is the largest investment platform in the UK with 1.5 million clients. Its platform offers access to a vast range of investments, including over 3,000 funds.

One of Hargreaves Lansdown’s key strengths is its customer service levels. If you need help with your portfolio, it’s generally very easy to speak to a customer service agent. Its focus on customer service makes it a solid choice for beginner investors who are looking to manage their own portfolios. The downside to this platform is that fees are higher than those of some other platforms.

6. AJ Bell Youinvest

AJ Bell Youinvest is an award-winning, low-cost online investing platform for the UK DIY investor. Its aim is to make the process of investing as easy as possible. AJ Bell Youinvest offers a range of services for investors including share dealing, fund investing, cash saving services, and mobile dealing. Key advantages of the AJ Bell Youinvest Dealing account are that it is clear, well laid out, and user friendly. On the downside, it doesn’t offer as many investment options as its main rival, Hargreaves Lansdown.

An investment account lets you buy and hold a range of assets such as shares, investment funds, exchange-traded funds (ETFs), and bonds. With this type of account, you can build an investment portfolio designed to help you achieve your long-term financial goals.

Some investment platforms like Hargreaves Lansdown offer an all-in-one solution with lots of different account types and access to global markets, Whereas other investment platforms like PensionBee specialise in one thing. All-in-one solutions tend to be slightly more expensive than specialised platforms. Here we explain what the different types of investment platforms are:

Share Dealing
Stock Brokers
SIPP Accounts
Stocks & Shares ISA
Bond Brokers
Fund Accounts
Lifetime ISAs
ETF Investing Accounts
Junior Investment ISAs
Equity Crowdfunding
Wealth Management
Robo-Advisors
ESG & Ethical Investing

 

Some investment platforms are better suited to beginner investors than others. Generally speaking, those that are new to investing need platforms that are easy to use, cost-effective, and offer access to products that are well suited to beginners such as ready-made portfolios, funds, and ETFs, as well as educational content.

Investing online has never been easier, there are a range of brokers, apps, websites and services offering quick access to global markets at any time of the day or night.

To start trading, the first step is to open an account with a reputable broker. This should be a relatively simple process. You will need to provide your personal details including your name, address, and phone number. You may also have to provide some identification and proof of address.

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