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Reviews By
Richard Berry
- Updated
General investment accounts (GIAs) let you buy and hold assets like shares, investment funds, exchange-traded funds (ETFs), and bonds. Whether you’re a DIY investor or prefer expert guidance, a GIA gives you the power to build your ideal portfolio.
We have tested, reviewed and compared the best general investing accounts in the UK. You can use this guide to compare the best GIAs, discover what thousands of their customers say and read our expert reviews. It will also show which platforms are good for DIY investing and which are managed by professional fund managers so you can find your ideal GIA and start investing today.
Our experts have tested and ranked the UK’s best investing platforms and accounts that are regulated by the Financial Conduct Authority (FCA) and hand-picked the best investment accounts based on:
- User feedback. We analysed over 30,000 votes and reviews in the prestigious Good Money Guide annual awards
- Unbiased, real-world testing. Our team tests each GIA provider with real money to ensure you have a seamless experience
- In-depth feature comparison. We thoroughly compare features, highlighting those that make a platform stand out
- Exclusive insights from the top. Our exclusive interviews with GIA company CEOs give you insider perspectives to help you make the best decisions
IG: Best Platform for a Mix Of High & Low-Risk Investing
Customer Reviews
Key Features
- £96 Annual Account Fee
- £3 Share Dealing Fee
- Smart Portfolios
IG General Investment Account Review: Great Mix Of High & Low-Risk Investing
Account: IG General Investment Account
Description: IG is primarily a trading platform (and one of the best, at that) but also has an investment account through which you can deal in physical stocks and shares, including ETFs, in the UK, Europe, US and Asian markets. If you don’t want to choose your own stocks, IG also has a managed investment product called Smart Portfolios. These are pre-made diverse portfolios with exposure to the global markets through shares, bonds, property and commodities. IG is a good choice for traders also looking for a cost-effective way to hold long-term investments in a GIA, or a stocks and shares ISA or SIPP. Capital is at risk.
Is IG's GIA a Good Account?
Yes, we rank IG as one of the best combined investing and trading platforms in the UK. You can invest with IG through a GIA, ISA or SIPP in either individual stocks or through pre-made Smart Portfolios. One letdown, though, is the lack of access to funds and bonds – you’ll be better served by a traditional stockbroker like Hargreaves Lansdown. And unlike some rivals, like Bestinvest, IG can’t provide advice on investments.
Fees
IG charges a flat custody fee of £24 a quarter (£96 a year) for its GIA. But if you have more than £15,000 in a Smart Portfolio managed fund, or place over three trades per quarter, that fee is waived. Standard dealing fees are £8 for UK and £10 for US shares. Smart Portfolio fees are 0.5% and capped at £250 per year. Fund management charges are 0.13% and transaction costs are 0.09%.
Special Offer: Free US stock investing. There is zero commission on US share trades and just £3 on UK share trades when you trade three or more times a month.
What is IG’s Platform Like to Use?
IG’s investment platform is the same as its trading interface so this will be familiar to its short-term speculators. The platform offers good visuals of investments, with associated news and analysis.
Pros
- Low-cost investing account
- UK & international shares
- Pre-made portfolios
Cons
- Also provides access to high-risk investment products.
- Limited investment funds
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Pricing
(5)
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Market Access
(5)
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App & Platform
(5)
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Customer Service
(5)
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Research & Analysis
(5)
Overall
5eToro: Excellent for Investing in Global Markets and Portfolios
Customer Reviews
Key Features
- No Account Fee
- Commission Free Investing
- Copy Portfolios
eToro GIA Review: Is eToro good for long term investing?
Account: eToro General Investment Account
Description: eToro’s GIA lets you invest in a huge range of US, UK & global shares & ETFs with no account fees. It also has a thriving community of investors you can follow, and you can copy their investments with eToro’s CopyTrader tool. Plus, there are some mainstream professionally managed portfolios to buy. eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
Offer price: test
Is eToro good for long term investing?
eToro is a great GIA for investing in the long term if you’re interested in buying major US stocks and copying the portfolios of other successful traders. Jeppe Kirk Bonde, for instance, has historically produced market-beating returns for his 30,000 followers, and now has over $100m copying his portfolio (though past performance is no indication of future results). (Disclaimer: eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.).
Pricing: No account fees or commission – great value and a low minimum account size of £10
Market Access: Access to the most popular global markets through a general investment account. There is limited access to smaller cap shares, but you can invest in crypto, which most other traditional investing accounts don’t let you do. Plus the copy trading feature lets you see what other investors hold in their portfolios and what they think about the,m which you can copy manually or automatically.
App & Platform: really easy to use, no complex order types but that’s not really what eToro is about it’s about discovery.
Customer Service: Quick responses from the live chat and email support and if you’re accuont is over $30k you get a personal account manager.
Research & Analysis: eToro have some really good social channels with educational vides, some excellent “how to” courses (which are free so no need to buy a trading course from a Youtuber. But the most unique thing is the social feed where investors chat about what they are investing in.
However, there are some things I believe eToro could improve for long-term investors from the UK.
The main issue is that the accounts are in USD, and you can’t invest through tax-free wrappers, or into a pension, and there’s limited access to bonds and funds.
eToro also used to absorb the stamp duty on UK shares. But now you have to pay the 0.5% UK stamp duty tax when investing in UK companies, so that tax break has gone.
I explain below why these are issues if you’re investing in the long term.
USD Account Balances
With eToro, your account balance has to be in USD. This is part of how it makes money (when it converts your GBP into USD) but it means that if you buy UK shares, then over time your profits can be eroded by differences in the GBP/USD exchange rate.
Granted this can also work in your favour, but you’re not trading FX – you’re investing. And if the exchange rate moves 5% and you have a £100,000 portfolio, that’s £5,000 lost.
No ISA or SIPP
With an ISA you can invest up to £20,000 a year and no pay tax on the profits. Unfortunately, eToro doesn’t have its own ISA. It does have a co-branded eToro ISA in partnership with Moneyfarm. But Moneyfarm is more of a digital-wealth manager, so you may as well just open a separate account with Moneyfarm – it will at least help you resist the temptation to speculate with your long-term investments.
With a SIPP, you’re investing for your pension and, as with an ISA, you don’t pay tax on your profits. But with eToro you can’t invest in a SIPP, so if you’re buying shares and aim to hold them until you retire, your tax bill at the end of it could be unnecessarily high.
- Related guide: How to make money on eToro.
No Funds, Corporate Bonds or Small-Caps
eToro is great at giving investors access to popular markets like US stocks, cryptocurrency and commodities, but its market access is pretty limited. You can’t invest in small-cap growth stocks in the UK, for example. And if you’re building a long-term portfolio, it should be diverse so you should add in some corporate bonds (fixed-income investments) and some funds that spread the risk and invest in lots of shares and bonds for you.
This is a shame, because eToro generally does give people what they want. However, it would be better if it focused a bit more on what people need.
On the positive side, eToro does let you invest in bonds through bond ETFs or fixed-income portfolios like YieldGrowth which contains a range of 13 bonds from Vanguard, iShares and SPDR.
What is eToro’s Platform Like to Use?
Pros
- Zero account fees
- Global access
- Easy to use
Cons
- USD-only accounts
- No ISA or SIPP
- High FX charges
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Pricing
(5)
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Market Access
(4)
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App & Platform
(4.5)
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Customer Service
(4.5)
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Research & Analysis
(5)
Overall
4.6AJ Bell: Best Overall General Investing Account
🏆Award Winner🏆
Customer Reviews
Key Features
- 0.25% – 0.1% Account Fee
- £3.50 – £5 Share Dealing
- Lots of Reasearch & Analysis
AJ Bell General Investing Account Review: Best Overall GIA 2024
Account: AJ Bell General Investing Account
Description: AJ Bell’s GIA offers share dealing in over 24 stock markets, bonds, ETFs and over 2,000 funds including a range created by its own team. The platform will suit those who are looking for low-cost investing when growing a small portfolio. Capital is at risk. Capital at risk
Is AJ Bell's GIA a Good Account?
Yes, AJ Bell’s GIA is one of the safest and cheapest ways to invest – outside your tax-free allowances in SIPPs & ISAs – for longer-term investors in the UK.
AJ Bell won our award for Best Investing Account 2024 due to its excellent market access, low costs and customer service scores in our annual survey.
Fees: AJ Bell charges 0.25% of the value of your investments for a general investment account, but share account fees are capped at £3.50 a month. Dealing costs are £1.50 for funds and £9.95 for shares but drop to £4.95 where there were 10 or more online share deals in the previous month.
Market Access: AJ Bell’s GIA is most suited to investors who want the cheapest overall investment platform for starting to grow a small investment portfolio. It offers share dealing in over 24 stock markets, bonds, ETFs and over 2,000 funds (of which around 500 are investment trusts), including a range of the company’s own funds that have been created in-house so you can invest by how much risk you want to take, or by theme or region.
App & Platform: Both apps and web version are really simple to use, no complaints.
Customer Service: Top notch, you can actually phone someone up to ask a question.
Research & Analysis: As well as being a super ealy platform for beginners AJ Bell is also a serious platform for serious investors and this in reflected in the quality of their research. There are some really in-depth reports on funds and shares, plus you get a free subscription to Shares Magazine worth £220 a year by maintaining a balance of £4,000 or more across your AJ Bell investing accounts.
Special Offers: Recommend a friend, and you’ll both get £100 gift vouchers. If you recommend a friend to AJ Bell and they invest more than £10,000 in a SIPP, ISA or LISA, you’ll each get an Amazon gift card worth £100.
Switch your share dealing account and receive up to £500 to cover exit fees. If you transfer your share dealing GIA valued at more than £20,000 to AJ Bell, it will help cover any exit fees charged by your current provider. AJ Bell will cover £35 per investment moved and up to £100 for general exit fees, up to an overall maximum of £500 per person.
What is AJ Bell’s Platform Like to Use?
AJ Bell’s investment platform is functional and well laid out. Key share and fund information is available to view at the time of execution.
Pros
- Pick your own shares, funds and bonds or use the platform’s investing ideas
- Low account fees capped at £3.50 a month for shares
- Lots of account types
Cons
- High phone-dealing charges
- Limited hedging options
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Excellent
(5)
Overall
5Saxo: Best Investing Platform for Experienced & Professional Investors
Customer Reviews
Key Features
- 0.12% Account Fee
- 0.08% Share Dealing Fee
- Direct Market Access
Saxo General Investment Account Review: Superb DMA Access & Service
Account: Saxo General Investment Account
Description: Saxo’s GIA is one of the most advanced accounts for UK long-term investors with access to more than 50 stock exchanges around the world and 22,000 instruments available to invest in. Saxo’s forte is as a trading platform for professional and institutional short and medium-term speculators as it offers direct market access and very low commissions. A good choice for large, active investors. Capital at risk
Is Saxo's GIA a Good Account?
As well as being one of the best trading platforms, Saxo has good accounts for long-term investments. The platform has recently introduced mutual funds for investors who want to quickly build a diversified portfolio. And income investors can access a huge range of retail and institutional-grade bonds.
On balance, though, I’d say that Saxo remains more of a trading platform than an investing account. So if you’re primarily a high-risk trader and you want to incorporate some longer-term “safer” investments into your portfolio, Saxo is a good place to invest alongside your shorter-term speculation. Saxo is also one of the best brokers for earning interest on your uninvested cash.
Compared with other retail investing accounts like eToro, Saxo is a much better option because of market range, customer service and tax-free products like ISAs and SIPPs.
Fees
Saxo charges €10 a month or 0.12% a year (whichever is higher) based on the value of your portfolio. If you have a VIP account this fee drops to 0.08%. Dealing charges, which are a percentage of transaction size, are competitive – and UK shares trading commission starts at 0.1% (£100 if you buy £100,000 worth of stock) and drops to 0.05% for more active traders.
Special Offers
Platinum. If you have £200,000 or more on account, you can apply for 30% lower transaction and account costs.
VIP. For accounts with portfolios over £1m, you get even better pricing, direct connection to experts, 1:1 SaxoStrats access and event invitations.
What is Saxo’s Platform Like to Use?
Saxo’s investment platform provides exceptional access to the global markets.
Pros
- Direct market access
- Excellent platform
- Low commissions
Cons
- May be too complicated for beginners
- Subscription fees for live pricing
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Excellent
(5)
Overall
5Interactive Investor: Best Fixed Fee General Investing Account & GIA
Customer Reviews
Key Features
- £59.88 Annual Account Fee
- £3.99 Share Dealing Fee
- £100 Off Trading Fees
interactive investor General Investing Account Review: Low cost fixed fee investing
Account: interactive investor General Investment Account
Description: The interactive investor (ii) GIA is an all-rounder with an attractive fixed fee pricing model. There’s access to a wide range of markets including UK and international shares, bonds and ETFs. Capital is at risk. Capital at risk
Is Interactive Investor a good general investing account?
Yes, ii’s GIA won our award for best general investment account in 2023 and 2022. This is because of its excellent fixed-fee pricing, which makes it a good choice for investors with over £10,000 to invest. ii’s fixed fee keeps your total account costs low no matter how big your portfolio gets. You can also invest in a markets ranging from UK and international shares to funds, trusts, bonds and ETFs.
Fees
A GIA with ii costs from £4.99 a month with its Investor Essentials plan. With this basic plan, trading on UK and US stocks is £3.99. There are two plans above that which include free trades. You can set up regular orders as small as £25 for free with ii’s regular investing service.
Special Offers
Free investing for your friends and family. You can give up to five people a free investment account subscription with ii’s Friends and Family plan. You pay a single extra fee of £5 a month, and their monthly cost is zero. Each member can invest up to £30,000 in an ISA or a general investing account with free regular investing and no account fees. However, they’ll still pay normal dealing commissions when they buy and sell investments.
Get £200 when you refer a friend to ii. Recommend a friend or family member and get a £200 reward. Your friend will get their first year’s service plan for free – saving £120. To qualify, your friend must transfer or fund their account with at least £10,000 in combined cash/investments.
Is ii’s GIA Better than its ISA?
The GIA is better if you have lots of money to invest as the maximum you can put in an ISA tax-free each year is £20,000, so anything above that you should invest in a GIA. However, if you have less than £20,000 to invest each year, the ii ISA is better option as your profits will be tax free.
What is ii’s Platform Like to Use?
ii’s platform is very easy to use and it gives lots of market data on potential investments.
Pros
- Pick your own investments or use their model portfolios
- £1 minimum deposit makes it easy to get started
- Fixed account fee that does not increase with your investments
- Joint account options
Cons
- Fixed fee expensive for very accounts below £1,000
- No Lifetime ISA account
- No Junior SIPP account
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Excellent
(5)
Overall
5Hargreaves Lansdown: Excellent Added-Value Investment Platform
Customer Reviews
Key Features
- 0.45% – 0.1% Fund Account Fees
- Zero Share Dealing Account Fees
- £5.95 – £11.95 Share Dealing Fees
Hargreaves Lansdown General Investment Account: Excellent All-Rounder
Account: Hargreaves Lansdown General Investment Account
Description: Hargreaves Lansdown (HL) has plenty of account types including a GIA and several types of ISA, plus an excellent research portal. There’s access to thousands of UK and international shares, funds, ETFs, investment trusts and corporate bonds. Capital is at risk.
Capital at risk
Is HL's GIA a Good Account?
HL is good for investors looking for more than just somewhere to buy and sell shares. The platform offers the most account types of all the investment platforms we compare, including a GIA, stocks and shares ISAs, lifetime ISAs, and junior ISAs. Plus, it has one of the best research portals to help you choose your own investments. And it boasts some of the widest market coverage, including thousands of UK and international shares, over 3,000 funds, ETFs, investment trusts, and corporate bonds.
Fees
There is no account charge for shares in a GIA with HL. Funds are charged at 0.45% for the first £250,000. There’s no charge for buying funds, but shares are charged at £11.95 per deal or £5.95 if you do over 20 deals per month.
Is HL’s GIA Better than its ISA?
It makes sense to open a GIA only after you have exhausted your ISA allowance. With the GIA from HL, you can invest as much as you like but with an ISA you’re limited to £20,000 a year in the tax-free wrapper.
What is HL’s Platform Like to Use?
HL’s investment platform is one of the best around. HL provides a huge amount of technical and fundamental data to help you choose investments.
Pros
- Thousands of UK and international shares, bonds & funds
- Ready-made portfolios with different levels of risk
- Excellent research and analysis
- An established and listed company on the LSE.
Cons
- Can be expensive for large fund portfolios
- Data not as good as it used to be
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Excellent
(5)
Overall
5Moneyfarm: Simple Risk-Based Investment Portfolio Platform
Customer Reviews
Key Features
- 0.75% – 0.35% Account Fee
- £3.75 Share Delaing Fee
- Managed Portfolios
Moneyfarm General Investment Account Review: Helps Your Money Grow
Account: Moneyfarm General Investment Account
Description: Moneyfarm’s GIA is a digital wealth manager and the platform makes it easy and cheap to set up a diverse investment account. As with other robo-advisors, it doesn’t offer individual stocks, but instead you choose to invest in any of its seven risk-based portfolios through a stocks and shares ISA, a pension or a GIA.
Is Moneyfarm's GIA a Good Account?
Moneyfarm is a trustworthy account, based on our metrics of regulation, size and products. For the first £20,000 you invest each year, the ISA is a better option than the GIA because profits in a GIA are subject to capital gains tax.
Fees
Moneyfarm investing account fees are scaled between 0.75% – for accounts between £500 and £50,000 – then above £100,000 they are 0.45% to 0.35%. Average investment fund fees are 0.2% and the average market spread when buying and selling is 0.10%.
What is Moneyfarm’s Platform Like to Use?
Moneyfarm’s investment platform is like a big quiz directing you towards the most appropriate portfolio based your responses to risk-based questions.
Pros
- Risk-based portfolios
- Low-cost investing
- Can buy individual shares
Cons
- Limited amount of individual shares
- No US shares available
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Excellent
(5)
Overall
5Interactive Brokers: Best GIA Platform for International Investing
Customer Reviews
Key Features
- No Account Fee
- 0.05% Share Dealing Fee
- Excellent Platforms & Apps
Interactive Brokers General Investment Account Review: Excellent low-cost investing and trading
Account: Interactive Brokers General Investment Account
Description: Interactive Brokers’ (IBKR’s) GIA is aimed at sophisticated investors, and offers access to derivatives, options, and futures. The platform is one of the cheapest across all asset classes. Capital is at risk.
Is IBKR's GIA a Good Account?
IBKR’s GIA is its “universal account” that lets you invest in all asset classes via shares, CFDs, futures, options or funds.
The account is excellent for sophisticated investors who want to manage their own portfolios with complex order types. It’s ideal for active investors who need access to a wider range of investment products like derivatives, options, and futures. IBKR is also one of the cheapest investment platforms across all asset classes, as it was built on offering electronic discount brokerage.
Fees
There is no account charge for general investment accounts at IBKR. When you buy and sell shares minimum dealing commissions are £1 in the UK or 0.05% of the deal size.
Special Offers
IBKR clients can earn $200 for each qualified referral while giving their friend the opportunity to earn up to $1000 of IBKR stock.
What is IBKR’s Platform Like to Use?
The investment platform is a slimmed-down version of its exceptional desktop trader station. For investing it gives you a good overview of shares and funds.
Pros
- Excellent market coverage
- Advanced investment platform
- Low-cost investing
Cons
- Customer service can be slow
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Excellent
(5)
Overall
5Wealthify: Excellent for Beginners – Start Investing From Just £1
Customer Reviews
Key Features
- 0.6% Account Fee
- Managed Portfolios
- Simple To Use
Wealthify General Investment Account Review: Start Investing From £1
Account: Wealthify General Investment Account
Description: Wealthify is a robo-advisor that lets you invest in a portfolio of investments from the UK and overseas or you can choose an ethical investment plan made from a blend of environmentally and socially responsible investments. Capital is at risk.
Capital at risk.
Is Wealthify’s GIA a Good Account?
Wealthify, part of the Aviva Group, uses automation to create a portfolio suited to your risk appetite. You can opt for an original portfolio of investments from the UK and abroad, or choose an ethical plan.
As with all platforms authorised by the FCA, if Wealthify were to go bust, your funds would be protected by the Financial Services Compensation Scheme (FSCS) up to £85,000.
Fees
It costs 0.6% to start investing with Wealthify, which is one of the cheapest robo-advisor GIA fees. There are also investment costs of, on average, 0.16% for original plans and 0.7% for ethical plans.
Special Offer
If you open a Wealthify investment plan and pay no management fees for 12 months. This Offer ends 30th June 2025. This offer is available for General Investment Account, Stocks and Shares ISA, Junior Stocks and Shares ISA and Pensions only. New customers only.
What is Wealthify’s Platform Like to Use?
Wealthify’s investment platform lets you fine-tune your portfolio based on risk, and shows you good visuals of what it may be worth in the future.
The user interface is slick, offering you options for setting investment amounts, monthly investment amount and your investment style, as shown below.
Pros
- Managed portfolios
- Low minimum deposit of £1
- Low account fee of 0.6%
Cons
- Cannot trade individual shares or ETFs
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Excellent
(5)
Overall
5Compare Top Rated General Investing Accounts
| GIA Account | GIA Fees | Good For | Investments | Customer Reviews | More Info |
|---|---|---|---|---|---|
| Account: £24 – £0 pq Share Dealing: £3 – £0 Fund Dealing: n/a FX: 0.5% | Active Investors | ✔️ Shares ❌ Bonds ✔️ Funds ✔️ Portfolios | (Based on 678 reviews)
| Start Investing Capital at risk |
| Account: 0.6% Share Dealing: n/a Fund Dealing: n/a FX: n/a | Regular Investing | ❌ Shares ❌ Bonds ❌ Funds ✔️ Portfolios | (Based on 2,564 reviews)
| Start Investing Capital at risk |
| Account: £0 Share Dealing: £3 Fund Dealing: £3 FX: 0.02% | Everything | ✔️ Shares ✔️ Bonds ✔️ Funds ✔️ Portfolios | (Based on 934 reviews)
| Start Investing Capital at risk |
 | Account: 0.75% – 0% Share Dealing: £3.95 Fund Dealing: £3.95 FX: 0.7% | Managed Portfolios | ✔️ Shares ❌ Bonds ❌ Funds ✔️ Portfolios | (Based on 235 reviews)
| Start Investing Capital at risk |
| Account: £4.99 Share Dealing: £3.99 Fund Dealing: £3.99 FX: 1.5% – 0.25% | Fixed Fees | ✔️ Shares ✔️ Bonds ✔️ Funds ✔️ Portfolios | (Based on 1,119 reviews)
| Start Investing Capital at risk |
 | Account: 0.25% – 0% Share Dealing: £5 – £3.50 Fund Dealing: £1.50 FX: 0.75% – 0.5% | Low Costs | ✔️ Shares ✔️ Bonds ✔️ Funds ✔️ Portfolios | (Based on 1,094 reviews)
| Start Investing Capital at risk |
| Account: 0.45% – 0% Share Dealing: £11.95 – £5.95 Fund Dealing: £0 FX: 1% – 0.25% | Customer Service | ✔️ Shares ✔️ Bonds ✔️ Funds ✔️ Portfolios | (Based on 1,758 reviews)
| Start Investing Capital at risk |
| Account: 0.4% – 0.08% Share Dealing: £1 – 0.08% Fund Dealing: n/a FX: 0.25% | Professional Investors | ✔️ Shares ✔️ Bonds ✔️ Funds ✔️ Portfolios | (Based on 73 reviews)
| Start Investing Capital at risk |
| Account: £0 Share Dealing: £0 Fund Dealing: n/a FX: 1.5% – 0.75% | US Investing | ✔️ Shares ❌ Bonds ✔️ Funds ✔️ Portfolios | (Based on 277 reviews)
| Start Investing Capital at risk |
What is a General Investing Account (GIA)?
A GIA is an all-purpose investing account where you can buy and sell stocks and shares (equities), bonds, funds and ETFs. GIAs don’t offer tax benefits – unlike ISAs, for example – so they can be a popular choice for investors who’ve already used up their tax allowances.
Investing is a long-term strategy. Financial experts recommend holding investments for at least five years so they ride out short-term fluctuations in the market. GIAs offer a flexible way to build your wealth over time, focussing on long-term growth.
The most popular types of investments for GIAs in the UK are:
General Investing Accounts – The Pros & Cons
Thinking of opening a GIA? Here’s what to consider:
Pros
- GIAs offer diversity. You can invest in anything from stocks and shares, to commodities, emerging markets, ethical investments and property funds.
- GIAs tend to be low cost. Many online investment platforms offer a cheap way to buy stocks and shares.
Cons
- Risk. It’s possible to lose money as well as make money through an investment platform.
- Limited access. Some investment accounts, like pensions and lifetime ISAs, lock away your money for a certain period of time and charge a penalty for early withdrawal.
- Fees. All GIAs charge fees and there’s no way to avoid paying something for having long-term investments.
Which is the Cheapest General Investing Account?
Cheapest Overall: Interactive Brokers is the cheapest overall account as it doesn’t charge you a custody fee (also known as an account fee).
Cheapest for Large Accounts (over £50,000): interactive investor (ii) is the cheapest investing platform for buying funds and shares, thanks to its fixed fees. Your trading commission remains low at £3.99 for accounts with a £11.99 monthly fee.
Cheapest for Small Accounts: For smaller portfolios, investing apps like Freetrade offer free GIAs. However, these tend to have a limited range of markets and order types unless you upgrade to a premium account type.
How to Find the Cheapest Investment Platform
Different brokers have varying custody fee structures. Some, such as Hargreaves Lansdown (HL) and AJ Bell, charge a percentage based on the size of your account. Others, such as ii and Freetrade have a flat fee.
For accounts holding a large amount, fixed fees work out cheaper. But if you only have a small amount to start investing with, an account that charges a percentage will help keep your costs down.
The cheapest account isn’t always the best option. Generally speaking, you tend to get what you pay for with investment platforms. Those that have higher fees tend to offer more investment options, provide better customer service, be more reliable, and provide extras such as investment research and tools.
It’s worth considering pricing carefully because fees and charges can have a big impact on your overall investment returns. Costs to think about are trading commissions, annual custody charges, entry fees, and exit fees.
Which Account Offers Access to the Most Markets?
HL provides access to the widest range of markets through its GIA. The range includes:
- UK shares
- US stocks
- ETFs
- REITs
- Bonds
- Index funds
- Open-ended funds
- Investment trusts
- ESG and ethical investments
- IPOs, new issues & placings
Some platforms offer access to a vast range of investments including domestic and international shares, funds, ETFs, and bonds. But others offer access to only certain asset classes or products.
GIA with the Best Customer Service
HL has the best customer service according to our 2022 and 2023 Good Money Guide awards, based on customer feedback.
Service and support can be important, particularly if you are new to investing, as you may need help placing a trade.
Customer service is a vital part of our review process. We take into account user ratings, and also how each GIA provider performs in our own reviews. Our aim is to highlight accounts that give you flexibility and value, and are backed up by great customer service.
Which Accounts Offer the Most Added Value?
HL offers you the most added value as its platform features:
- Market data
- Fund, share and market analysis
- Multiple order types
- Excellent customer service
- Pre-made portfolios
- Educational videos & webinars
- Investment calculators
Some platforms offer features that can help you make better investment decisions, such as research, charts, and stock screeners. But others just offer basic investment services.
Which Provider Offers the Most Account Types?
AJ Bell and HL offer you the most types of investment account, including lifetime ISAs.
However, in our independent GIA reviews we found that only IG, HL and Interactive Brokers offer access to the full suite of investment types. With that said, Interactive Brokers is more of a trading platform than an investing account and the derivatives offered by HL are provided through a partnership with IG. So the provider that offers the most investment options is technically IG.
| Account Types | | | |  |  |  |  |  | |
|---|---|---|---|---|---|---|---|---|---|
| GIA | ✔️ | ✔️ | ✔️ | ✔️ | ❌ | ❌ | ✔️ | ❌ | ✔️ |
| ISA | ✔️ | ✔️ | ✔️ | ✔️ | ❌ | ❌ | ✔️ | ❌ | ✔️ |
| SIPP | ✔️ | ✔️ | ✔️ | ✔️ | ❌ | ❌ | ❌ | ❌ | ❌ |
| Pension | ✔️ | ✔️ | ✔️ | ✔️ | ✔️ | ✔️ | ✔️ | ✔️ | ✔️ |
| Junior ISA | ✔️ | ✔️ | ✔️ | ❌ | ❌ | ❌ | ❌ | ❌ | ✔️ |
| Junior SIPP | ✔️ | ✔️ | ✔️ | ❌ | ❌ | ❌ | ❌ | ❌ | ❌ |
| Lifetime ISA | ✔️ | ✔️ | ❌ | ❌ | ❌ | ❌ | ✔️ | ❌ | ❌ |
Some platforms offer access to a variety of different accounts such as GIA, stocks and shares ISAs, lifetime ISAs, and self-invested personal pension (SIPP) accounts. Others, though, only offer GIAs. Tax-efficient accounts such as ISAs and SIPPs can help you minimise your tax liabilities.
✅ FCA Regulation
Your peace of mind matters to us. That’s why every GIA we feature is regulated by the Financial Conduct Authority (FCA). The FCA ensures GIA providers are financially secure, treat customers fairly, and meet robust compliance standards.
Plus, your funds are safeguarded by the Financial Services Compensation Scheme (FSCS), providing an extra layer of protection and reassurance. This means that if a provider were to go bust, any money of yours in its accounts is protected up to £85,000.
General Investment Account FAQs:
Yes – general investment accounts are regulated by the FCA and can be considered safe. When an investment platform is regulated by the FCA, it is bound by the regulator’s rules and regulations.
FCA-regulated platforms are required to hold client assets and investments separately in the name of a nominee company or authorised third-party custodian. Meanwhile, clients’ cash must be held in trust accounts with authorised UK banks. This adds protection for investors.
If a FCA-regulated platform becomes insolvent, and investors suffer a loss as a result, they will be protected under the Financial Services Compensation Scheme (FSCS) up to £85,000 per client, if you have balances with a single financial institution that exceed this amount, you may wish to consider opening a new account with an investment provider under a separate banking licence to ensure your deposits are fully protected incase of investment broker collapse.
It’s worth stressing that regulation and FSCS protection will not protect you from investment-related losses. When you invest money, your capital is always at risk because of fluctuations in the markets.
Yes, come GIAs are free, for instance, a number of brokers such as Freetrade offer commission-free trading. However, it’s important to be aware of other costs. Freetrade, for example, charges £3 per month for its Stocks and Shares ISA and £9.99 per month for Freetrade Plus (which offers access to more investments). It also charges FX fees of spot rate +0.45% on international shares.
In terms of investing in funds, some brokers such as Hargreaves Lansdown allow you to buy and sell funds commission free. However, these brokers generally charge an annual custody charge on fund investments. Hargreaves Lansdown, for example, charges 0.45% per year on fund holdings up to £250,000.
You can have as many investment accounts as you want. There can be benefits of using several different platforms as some have strengths in specific areas. For example, some platforms are better than others for investing in funds. Others are more cost-effective for share trading. However, it’s generally much easier to manage and monitor your investments when they are all on the one platform.
It’s worth pointing out that you can open multiple Stocks and Shares ISAs. However, you can only pay into one of these ISAs per year and the annual allowance is £20,000.
Generally speaking, GIAs are good for investing after you have used up your tax-free investing allowance within a Stocks and Shares ISA. The key advantage of a Stocks and Shares ISA is that it shelters all your capital gains and income from HMRC. If you invest in a general investing account, you will have to pay capital gains tax on gains and income tax on income received.
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