Best General Investment Accounts (GIAs) Compared & Reviewed

Is InvestEngine any good?

Yes, InvestEngine won “Best ETF Platform” in the 2025 Good Money Guide Awards.

InvestEngine makes it really simple to get started by investing in ETFs with zero commission, although the market range is a bit limited if you are looking for more complex asset classes. Plus, they also have a managed service for those who want an expert to build a diverse portfolio of ETFs for them.

Pricing: Top marks as it is actually free to buy and hold ETFs in a GIA and ISA (although keep in mind you have to pay ETF charges to the exchange). Plus, the InvestEngine SIPP is free and managed accounts are very low cost too

Market Access: InvestEngine only offer about 763 ETFs on their platform so are marked down a bit here. However, they do offer enough to build a diverse portfolio of exchange-traded funds.

Platform & App: Both are well built and easy to use, intuitive and cross-device

Customer Service:  InvestEngine are easy to contact through chat (even on weekends) plus an active community board. There is no published phone number on the site though.

Research & Analysis: There are some good insights on their blog, with fairly active social channels (mainly investing tips or product highlights).

Is Lightyear good for investing?

Lightyear is a simple and approachable way to invest in stocks and ETFs without unnecessarily large fees. A very well-designed low-cost investing app with discounted FX charges, limit and recurring orders for investing in local and international markets.

Special Offer: Sign up with a promo code GOODMONEYGUIDE deposit at least £50 and get 10 trades for free. T&Cs apply. Capital at risk.

Fees: Lightyear is very cheap for investing, there is no account fee for a general investing account and only £1 commission for buying UK shares and a max of $1 for US stocks. Lightyear make their money on the FX Fees. With Lightyear, they apply the FX fee on top of the interbank rate, so you can actually see the amount you are charged for the conversion.

When I interviewed Martin Sokk he told me Lightyear aims to expand into different countries quickly, so they can help people to invest in their local stock markets, but also in America, which is where a large percentage of people want to buy stocks.

And rightly so, US shares are all household names, and one of the key drivers for investing is to buy companies you love and use. Lightyear will make money charging 0.1% per trade  (or $1 what ever is bigger) and converting GBP, HUF & Euros, etc. into USD when people buy US stocks.

They charge, 0.35%, which is higher than Interactive Brokers’ 0.02% but much lower than the 0.5% charged by AJ Bell, Saxo Markets and IG, or the 1% from Hargreaves Lansdown and Interactive Investor.

FX, therefore, is a key part of Lightyear’s monetisation strategy because, if you charge very low commission and account fees you have to make money somehow. So Lightyear, aim to make it’s money in the background, initially from foreign exchange fees. FX is a very good way to make money, because, a) no-one really understands how the pricing works, and b) because you don’t see the charge, it’s built into the buy/sell spread.

You can see in the below example what the fees would be when I bought some Tesla shares testing the app.

Market Access: Lightyear has just added 1,300 new instruments, bringing the total up to almost 5,500. These include well-known UK names such as Rolls-Royce, easyJet and IAG; to defense ETFs, US stocks. This is great becuase one of my concerns about new investing apps is that they normally just cater to the most heavily traded apps. It’s great to see Lightyear providing wider market access.

Plus, they are proactive about it too. Lightyear says they have put live 98% of non-complex US instruments asked for by customers in the past 3 months.

One of the other really cool things about Lightyear is that you can listen to earnings calls directly on the app.

Multicurrency account & order types

Another point to make here is that you also get a multi-currency account, where you can hold foreign currency. The advantage of this is that you don’t need to do as many FX conversions which can help keep costs down.

Related guide: Compare FX rates for buying US stocks from the UK.

Lightyear comes with features like fractional US shares, limit orders, and regular investing. You can also quickly see which shares pay the highest dividends or make the most money relative to their share price to help you pick stocks.

Progression to servicing local customers and local markets

When Lightyear first started, you could only invest in a handful of UK stocks, and they were ADRs listed in the US denominated in USD, rather than the local listings on the LSE. So, you were paying an FX fee when you really shouldn’t have to, admittedly, there is no stamp duty so technically paying 0.35% on FX rather than 0.5% to HMRC is cheaper.

Lighyear have a cash and investment ISA, but no SIPP account, but I suspect that is next on the “product roadmap”.

But anyway, they’ve sorted that now, and if you want to invest in UK shares like Lloyds, you can actually buy them on the LSE, something that eToro is yet to do.  With them, you still have to buy USD-denominated shares.

I’ve mentioned how annoying that is many times and yet they continue serve themselves as a global broker instead of their customers as locals. It’s nice to see that Lightyear, fixed that problem early on.

Like Transferwise, like Lightyear

To draw on one final Transferwise comparison, it is very easy to use app-as-a-tool to help you start investing as cheaply as possible. The thing is though is that, transferring money is like car insurance. No-one really has any loyalty to their insurer, they just do it and move on. Investing is different. Investing is not like insurance, when you open an investing account, you could be using it for the next 30 years.

I think there will always be a place for traditional investment platforms because they provide excellent customer service and brand loyalty, they are mature platforms for mature investors and fees will eventually come down, as they have done in the past. Same as with Simpsons Tavern, it may not be as good for you as veganism, but if it survives, people will continue to go because they like it.

But, if low-cost investing apps are a gateway to getting more people to invest for their future, then they are the future too and will hopefully mature along with their customers, and Lightyear, in particular, is a great place to get started.

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 Financial Conduct Authority (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.

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.

Is Dodl a good investing app?

AJ Bell Dodl is a great way for the next generation of investors to invest with a “low-cost, little effort” app which focuses on making investing easy. Which it does well, Dodl is very user-friendly, has great educational content and is one of the cheapest ways to start investing.

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.

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.

Is Interactive Investor a good general investing account?

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.

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.

Is the CMC Invest general investment account any good?

If you are just starting out investing, then CMC Invest is a good GIA for some longer-term investments. But, if you are an established and experienced CMC Markets customer you may find the CMC Invest offering too basic. Better options for sophisticated investors would be Saxo, or Interactive Brokers.

Special Offer: If you upgrade to the CMC Invest premium plan, it will be free for 12 months, and then £25 a month, which includes an ISA, SIPP and access to more markets like small cap stocks.

Investments: Shares & ETFs

Minimum deposit: £0

Account types: GIA, ISA

Account charge: £0 – £25 per month

Dealing fee: £0

Fees: General investment accounts are commission and fee free. ISA accounts cost £10 a month and are included in the Plus plan. For US shares there is a 0.5% conversion fee.

Investing Platform: CMC Invest’s app gives you access to major stocks, and has a screener to help search for potential investments.

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.

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.

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.

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.

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?

• Related guide: How to make money on eToro.