Is Interactive Investor ISA Stocks & Shares or Cash?

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Interactive Investor’s ISA is technically a stocks and shares ISA where you invest in the stock markets, but they do pay interest on uninvested cash, giving it a quasi-cash ISA option.

Interactive Investor Stocks & Shares ISA Review
Interactive Investor

Name: Interactive Investor Stocks & Shares ISA

Description: Interactive Investor won the 2022 Good Money Guide award for best stocks and shares ISA account as they offer one of the cheapest investment ISAs that provides access to over 40,000 shares and 3,000 funds, as well as investment trusts, ETFs and bonds. They are a good choice for people that want to take control of what they invest in.
Capital at risk

Summary

  • Investments: Shares, ETFs, bonds & funds
  • Minimum deposit: £1
  • ISA account charge: £9.99 per month
  • ISA dealing fee: £3.99 – £5.99

Fees: The Interactive Investor’s ISA account is a flat £9.99 per month, this also includes a free Junior ISA to help you save for your children. Dealing commissions are a free trade every month, then UK Shares and Funds, US Shares charged £7.99 or upgrade to a £19.99 “Super Investor” account 2 free monthly trades and deal for £3.99. Regular investing is free.


Special Offer:

  • One free trade per month – One buy or sell order is free every month, after that, the cost is between £3.99 and £5.99 depending on what plan you are on.
  • Free investing for your friends and family –  You can give up to five people a free investment account subscription with Interactive Investor’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 will still pay normal dealing commissions when they buy and sell investments.
  • Get £200 when you refer a friend to Interactive Investor – Recommend a friend or family member to ii 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. However, your friend will not receive the usually monthly free trade.

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 small accounts below £1,000
  • Pricing
    (5)
  • Market Access
    (4.5)
  • Online Platform
    (4)
  • Customer Service
    (4.5)
  • Research & Analysis
    (4.5)
Overall
4.5
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