Interactive Investor
Review (2026)
The UK’s second-largest investment platform runs on flat monthly fees instead of percentages — which is either its biggest advantage or its biggest drawback, depending entirely on your portfolio size. This review covers plans, fees, ISA and SIPP quality, FX costs, and who ii actually suits in 2026.
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TL;DR
- Your portfolio is £20,000+ and growing — flat fees beat percentage fees at this level.
- You want a Stocks and Shares ISA or SIPP from a wide-access, established platform.
- You invest monthly via free regular investing rather than frequent ad-hoc trades.
- You want access to 17 global exchanges and 9 currencies from one account.
- You are a long-term, buy-and-hold investor who logs in rarely.
- Your portfolio is under £15,000 — the flat fee is expensive relative to assets at this size.
- You frequently convert GBP to foreign currencies — FX runs ~0.75% on Core and Plus.
- You want fractional shares — ii does not offer them.
- You want CFDs, spread betting, or cryptocurrency — none available.
- You need a modern, polished mobile-first app — this is a clear gap versus newer competitors.
Is Interactive Investor safe?
ii is one of the most established investment platforms in the UK. Here is what the regulatory and ownership structure looks like.
Interactive Investor is authorised and regulated by the Financial Conduct Authority (FCA). Client assets are held separately from ii’s own balance sheet under FCA custody rules — they are not accessible to creditors if ii fails.
Cash held with ii is eligible for FSCS protection up to £85,000 per person. Investments (stocks, ETFs, funds) are held in your name and fall outside FSCS scope — but FCA custody segregation means they are not at risk in an ii insolvency.
ii was acquired by abrdn (formerly Standard Life Aberdeen) in 2022. abrdn is a FTSE 250 listed asset management group — adding institutional backing to ii’s retail platform rather than pure VC or startup ownership.
ii has been operating since 1995 and is now the UK’s second-largest direct investment platform by assets under administration. Three decades of continuous operation and multiple market cycles without a major failure is meaningful context.
Plans and fees
ii runs three flat-fee plans. Unlike most UK platforms, you pay the same monthly fee regardless of how much you invest — which benefits larger portfolios and penalises smaller ones. One subscription covers all accounts you hold (ISA, SIPP, GIA).
| Fee | Core | Plus | Premium |
|---|---|---|---|
| Monthly fee | £5.99 | £14.99 | £39.99 |
| Annual platform cost | £71.88 | £179.88 | £479.88 |
| UK and US trades | £3.99 | £3.99 | £2.99 |
| International trades | £9.99 | £7.99 | £5.99 |
| Free trades / month | 0 | 0 | 2 |
| Regular investing | £0 | £0 | £0 |
| FX markup | 0.75% | 0.75% | 0.25% |
| Annual custody fee | 0% | 0% | 0% |
| Fractional shares | No | No | No |
| Minimum deposit | £0 (£25/month minimum for regular investing) | ||
The maths shifts in ii’s favour once your portfolio grows past a few key thresholds:
- vs Hargreaves Lansdown (0.35% p.a. on shares/ETFs in ISA): ii Core at £71.88/year becomes cheaper than HL’s uncapped 0.35% once your portfolio exceeds roughly £20,500 (£71.88 ÷ 0.0035). Above that threshold, ii wins on platform cost alone — even before accounting for the lower ETF dealing fee (£3.99 vs HL’s £6.95).
- vs Vanguard UK (0.15% p.a., capped at £375/year): ii Core becomes cheaper than Vanguard UK above roughly £48,000 (£71.88 ÷ 0.0015). Below that, Vanguard is better value — but only if you are comfortable with their own-funds-only product range.
- vs InvestEngine (0% custody, ETFs only): InvestEngine’s DIY account has no platform fee and no dealing commission on ETFs. For pure ETF investors building a GBP-denominated ETF portfolio, InvestEngine costs less than ii at any portfolio size. The trade-off is a narrower, less flexible platform with no ISA transfer support from all brokers.
Account types
ii covers the full range of UK investing accounts. One monthly plan subscription covers all of them — ISA, SIPP, and trading account together, with no additional fee per account.
Full annual ISA allowance invested in stocks, ETFs, funds, investment trusts, and bonds. Cash ISA and in-specie transfers accepted from most UK brokers. The flat fee makes ii particularly competitive for ISA holders above roughly £20,000 — compare the breakeven figures in the fee section above.
Self-Invested Personal Pension with a wide investment range and pension transfer support. Drawdown is supported for investors approaching retirement. The flat-fee structure is especially strong here — a £200,000 SIPP pays the same £71.88/year as a £25,000 one.
General investment account for investing beyond the annual ISA allowance. No tax shelter but no contribution limit. Useful for investors who have maxed their ISA and want to continue investing on the same platform without switching broker.
Stocks and Shares Junior ISA for investing on behalf of a child up to age 18. Annual allowance of £9,000 (2025/26 tax year). Useful if you want to keep children’s investments on the same platform as your own accounts without a separate subscription.
What you can invest in
ii offers one of the widest investment ranges of any UK retail platform — 17 global exchanges, 9 currencies, and a full product catalogue for buy-and-hold investors.
- UK and international shares — 17 global exchanges
- ETFs (including UCITS ETFs for UK investors)
- Investment trusts
- Open-ended funds (OEICs and unit trusts)
- Bonds and gilts
- Structured products
- 9 currencies held in-account (multi-currency)
- IPO access (selected)
- CFDs
- Spread betting
- Cryptocurrency
- Fractional shares
- Options or derivatives
- US-domiciled ETFs (PRIIPs rules — UK investors use UCITS equivalents)
ii publishes two curated shortlists reviewed by their research team. The Super 60 covers funds, ETFs, and investment trusts across both active and passive strategies — a useful starting point for investors who want a pre-screened list rather than searching the full catalogue. The ACE 40 is an ESG-focused equivalent for investors applying ethical or sustainability screens. Neither list constitutes a buy recommendation, but both are more useful for self-directed investors than the generic “popular investments” lists many platforms publish.
Free regular investing
The single most practical feature on the platform for passive long-term investors — and the main reason the Core plan suits monthly ETF buyers.
ii’s Regular Investing service lets you set up automated monthly purchases of any eligible stock, ETF, or fund at £0 dealing commission. Orders execute on the first business day of each month. For investors running a passive monthly DCA strategy, this eliminates dealing costs entirely — the only cost is the platform subscription.
- Available on all three plans. Core, Plus, and Premium all include free regular investing — it is not a premium-tier feature.
- Works across ISA and SIPP. Automated monthly contributions into tax-efficient wrappers at zero dealing cost — a strong combination for long-term compounding.
- Minimum £25/month overall. You can split this across multiple regular investing instructions if investing in more than one fund.
- Limitation. Executes at market price on the first business day of the month — no real-time price control. This is standard for monthly batch investing and is not a meaningful issue for passive long-term buyers.
Platform and mobile app
ii’s platform is comprehensive and functional — not a polished consumer fintech experience. Here is an honest assessment of both.
The web interface gives you everything needed: portfolio overview, watchlists, research access, order entry, and full account management. Navigation is logical once you learn the layout, though it lacks the visual polish of newer platforms.
Charting tools are adequate for reviewing existing positions but below the standard of Saxo or Interactive Brokers. Not a platform for technical analysis.
The ii app covers the core functions: portfolio tracking, order placement, watchlists, and secure messaging. Biometric login (Face ID and fingerprint) is supported. App store ratings are generally solid for stability.
User feedback consistently notes the app feels less modern than Trading 212 or Freetrade — an honest and accurate gap. For investors who check in once a month and use Regular Investing, this is not a practical problem.
Research and tools
ii includes substantially more in-house editorial and research than most UK retail platforms. Here is what is included and what is worth using.
- Daily editorial content: ii runs an in-house editorial team producing daily market commentary, stock analysis, and income investing articles — not just raw data feeds. More editorial depth than most retail platforms.
- Morningstar data: Fund and ETF analysis backed by Morningstar ratings, sustainability scores, and portfolio breakdowns — a meaningful data layer for fund selectors.
- Dividend calendar: Upcoming dividend dates, ex-dividend dates, and yield data — useful for income-focused investors managing a portfolio across multiple positions.
- Earnings data: Company results, analyst estimates, and reporting calendars for stock investors tracking individual holdings.
- Super 60 and ACE 40 curated lists: See the investment universe section above. Both lists are reviewed periodically by ii’s team.
- “On the Money” podcast and video content: Educational media for investors who want broader financial context alongside their platform access.
FX costs — what most ii reviews miss
ii’s FX fee is one of the most consistently mentioned investor complaints online. Most reviews acknowledge it exists without explaining how to model it or reduce it. Here is the full breakdown.
When you buy a foreign-currency asset — a US stock, a USD-denominated ETF, or any non-GBP security — ii converts your GBP at the point of trade. On Core and Plus plans, the markup is 0.75% of the converted amount. On Premium, this drops to 0.25%.
This applies on both buy and sell of any non-GBP asset. For investors who hold USD assets long-term and trade infrequently, the total FX impact is limited to two events (entry and exit). For investors adding to positions monthly, the ~0.75% markup applies to every contribution.
- Buy GBP-denominated share classes where available. Most major UCITS ETFs trade in both GBP and USD on the London Stock Exchange. Buying the GBP share class eliminates the FX conversion entirely — same underlying fund, same exposure, no markup applied.
- Hold foreign currency proceeds in a currency account. If you receive USD dividends or sell a USD position, hold the proceeds in ii’s USD account rather than converting back to GBP — avoids a double conversion on reinvestment.
- Run the Premium maths before upgrading. The drop from ~0.75% to 0.25% saves £500 per £100,000 conversion. Premium costs £321.60/year more than Core (£39.99 vs £5.99). You would need to convert well over £64,000 annually in foreign currency before Premium pays for itself purely on FX savings.
Who should use Interactive Investor
The right broker depends on portfolio size, investment style, and which features you actually use. ii is a strong fit for some investor profiles and poor value for others.
Portfolio £25,000+ and growing via monthly contributions into ETFs or funds. Investing monthly through Regular Investing means zero dealing fees. The flat fee is cheaper than HL’s percentage fee above ~£20,500 and cheaper than Vanguard above ~£48,000 — at larger sizes, the saving is substantial.
Portfolio £100,000+, holding a mix of UK and international stocks and ETFs. At this size, a percentage-fee platform costs £350–£500+/year — ii Core at £71.88/year is a significant saving. The breadth of access (17 exchanges, 9 currencies) suits a more complex portfolio without needing to switch platforms.
HL investor with an ISA above ~£20,500 looking to reduce platform costs. In-specie transfers mean no forced sell-and-rebuy. ii accepts the transfer, and at that portfolio size Core is cheaper than HL’s 0.35% p.a. — even with the recent restructuring of HL’s fee cap to £150/year for ISA ETF/share holders.
Portfolio under £15,000. At £10,000, ii’s £71.88/year fee represents 0.72% of assets — worse than Vanguard UK (0.15%) or InvestEngine (0%). Start on a percentage-fee or free-custody platform; move to ii once the portfolio justifies the flat fee.
Frequent manual trades at £3.99 each accumulate quickly. Beyond cost, ii’s platform is not designed for active trading — no advanced charting, no direct market access, no real-time Level 2 data. Interactive Brokers or Saxo are far better suited for active strategies.
Regularly buying individual US stocks or USD-listed assets with GBP. The ~0.75% FX markup on Core compounds across repeated conversions over years. IBKR’s 0.002% FX rate with a single monthly conversion workflow is materially cheaper for multi-currency strategies at almost any volume.
Ready to open an ii account?
ii suits investors building a meaningful portfolio over the long term — flat fees that improve with scale, free regular investing for passive monthly buyers, and a wide investment range across ISA, SIPP, and GIA under one subscription.
Go deeper
Frequently asked questions
Is Interactive Investor safe?
Yes. Interactive Investor is authorised and regulated by the Financial Conduct Authority (FCA). Client assets are held separately from ii’s own balance sheet under FCA custody rules, and eligible cash balances are FSCS protected up to £85,000 per person. Investments — stocks, ETFs, funds — are held in your name and fall outside FSCS scope, but FCA custody segregation means they are not at risk in an ii insolvency. ii has been operating since 1995 and is owned by abrdn, a FTSE 250 listed asset management group.
Is Interactive Investor good for beginners?
Conditionally. For accounts under £15,000–£20,000, the flat monthly fee is expensive relative to assets — £71.88/year represents 0.48%–0.72% of a small portfolio, above percentage-fee alternatives like Vanguard UK (0.15%) or InvestEngine (0%). The crossover where ii becomes competitive is roughly £20,000–£25,000. Once you reach that level, the free regular investing feature and lower dealing fees begin to make ii the better long-term choice over most percentage platforms. Starting on Vanguard or InvestEngine and migrating to ii when the portfolio justifies the flat fee is a reasonable approach.
Is Interactive Investor good for a SIPP?
Yes — ii is one of the stronger SIPP platforms in the UK for investors with meaningful pension balances. The flat-fee model means pension costs stay fixed regardless of how large the pot grows, and the one-subscription structure means adding a SIPP to an existing ISA costs nothing extra per month. ii supports pension transfers, drawdown for those approaching retirement, and a wide investment range. Free regular investing allows automated monthly pension contributions at no dealing cost — useful for building a pension over time on a fixed DCA schedule.
Does Interactive Investor support ISA transfers?
Yes. ii accepts both cash ISA transfers and in-specie transfers. An in-specie transfer moves existing holdings across without selling them first — preserving your positions, avoiding a period out of the market, and preventing a potentially taxable disposal in a GIA context. Transfer timelines vary depending on the sending broker and transfer type. ii does not charge an exit fee for transferring out to another platform, but confirm the outgoing broker’s own transfer-out terms before initiating.
What is the cheapest Interactive Investor plan?
The Core plan at £5.99/month (£71.88/year) is the entry-level option and the most cost-efficient for passive investors. It includes UK and US trades at £3.99 each, free regular investing at £0 per order, and access to the full investment range across all account types. For investors who set up monthly ETF purchases through Regular Investing and place few or no additional manual trades, Core keeps the annual cost to the platform fee alone. Premium’s lower FX rate (0.25% vs ~0.75%) and two free monthly trades only justify the £39.99/month cost if you are regularly converting substantial sums of foreign currency.
QuantRoutine provides educational content only. Nothing on this page is an offer, solicitation, or recommendation to buy or sell any security or to open an account with any specific broker. Investments can lose value, and past performance does not guarantee future results. You are responsible for your own investment, tax, and legal decisions. Fee figures are based on publicly available information as of May 2026 — always verify current rates, plan terms, and eligibility directly with Interactive Investor before opening or funding an account.