IG has launched a new Junior Stocks & Shares ISA (JISA) account, allowing parents and guardians to invest up to £9,000 per year tax-free on behalf of their children. But is it any good? We test IG’s new Junior stocks and shares ISA.
IG’s Junior ISA is designed as a long-term investment account, with funds locked in until the child turns 18. At that point, the account converts into an adult ISA, giving the young investor full control of the portfolio. Contributions benefit from the standard JISA tax advantages, meaning no UK income tax or capital gains tax is payable on investments held within the wrapper, although tax rules depend on individual circumstances.
IG Junior Stocks & Shares ISA: Take a punt early
Provider: IG JISA
Verdict: IG's Junior Investment ISA has no account charge and there is no commission charged on investments. Parents can choose from more than 12,000 global shares and exchange-traded funds, to build their children diversified portfolios tailored to long-term goals such as university costs, a first property deposit, or travel.
Is IG's Junior ISA Any Good?
Overall, we rate IG’s junior ISA as one of the best in the UK with zero commission, no account fee and lots to invest in from an established provider.
Pricing: IG’s JISA is essentially free (apart from a few FX charges if you invest in US stocks) so your children’s investments won’t be erroded by excessive fees.
Market Access: Huge market range, loads of UK and international shares, ETFs and investment trusts. So well-suited for parents who want to pick and choose what they want to invest in for their kids.
When testing the IG JISA, I opened an account for my son, and bought him some shares in IG. I’ve always liked the company and IG Group has done well recently. The recent diversification away from just trading into investments should help the platform scale and grow in the long run too.
You can also buy some really cool stuff, like complex ETFs. You obviously shouldn’t take on too much risk with your children’s future, but the younger your are the more risk you can afford to take. Plus, my mate Jackson just tipped Live Cattle on Invesdaq, because cattle herds have stayed stagnant while demand has risen from natural population increase, so I bought him a few pounds worth.
App & Platform: Just like the trading platform, super simple, took me five minutes to set up a JISA, deposit fund and buy some shares. My only problem is that for some reason, you can only open a JISA on IG if your child is under 13, instead of 18, so I couldn’t open a JISA with IG for my oldest child, who is 14. Which is a bit unfair, so only used it for a small test trade.
Fingers crossed that time and growth will make it worthwhile, if they sort the age issue, I may open JISAs for the other two and start taking on positions for them.
Customer Service: IG always delivers on customer service, never had any problems with them. The chatbot is fine, as when I tested customer support by asking why I couldn’t open a JISA for my child over 13 it did give me the answer fairly quickly.
Research & Analysis: IG has great news, analysis and social channels with lots of market commentary that can help you make investment decisions.
Pros
- Zero commission
- No account fee
- Lots to invest in
Cons
- Only for under 14s
- Attached to a trading platform
- 0.7% FX fee is good but not the lowest around
- Pricing (5)
- Market Access (5)
- App & Platform (5)
- Customer Service (5)
- Research & Analysis (5)
Overall
5
Richard is the founder of the Good Money Guide (formerly Good Broker Guide), one of the original investment comparison sites established in 2015. With a career spanning two decades as a broker, he brings extensive expertise and knowledge to the financial landscape.
Having worked as a broker at Investors Intelligence and a multi-asset derivatives broker at MF Global (Man Financial), Richard has acquired substantial experience in the industry. His career began as a private client stockbroker at Walker Crips and Phillip Securities (now King and Shaxson), following internships on the NYMEX oil trading floor in New York and London IPE in 2001 and 2000.
Richard’s contributions and expertise have been recognized by respected publications such as The Sunday Times, BusinessInsider, Yahoo Finance, BusinessNews.org.uk, Master Investor, Wealth Briefing, iNews, and The FT, among many others.
Under Richard’s leadership, the Good Money Guide has evolved into a valuable destination for comprehensive information and expert guidance, specialising in trading, investment, and currency exchange. His commitment to delivering high-quality insights has solidified the Good Money Guide’s standing as a well-respected resource for both customers and industry colleagues.
To contact Richard, please see his Invesdaq profile.
