Account Minimum: $0
Fees: From £3.99 per trade
Best For: UK Stock Traders
Interactive Investor is a well-established stock broker in the UK with a history dating back to 1995. They are a trusted name among UK traders and are one of the most popular choices in the sector with an excellent regulatory record and oversight from the FCA in the UK.
Here we will take a closer look at everything the broker has to offer and allow you to decide if they meet your needs in many of the key areas to consider when making your stock, or trading broker selection.
- Multiple price plans to suit all traders
- Great range of mutual funds
- Intuitive webtrader and mobile platform
- Top-tier regulation from the FCA
- Higher fees than some brokers
- No Desktop trading platform
This is always a non-negotiable area. The broker you choose should always provide a reliable and secure trading environment. This is something which Interactive Investor certainly does, and a responsibility they take very seriously.
In this regard, they have always had an excellent record of regulatory compliance and have continually been overseen by the FCA in the UK since they first began operating. The Financial Conduct Authority is a top-tier regulator, and one of the foremost presences in global financial regulation with stringent compliance rules in place.
This lends very favorably to the broker being one you can very much trust. Further backing this is the fact they have been operational for many years since 1995, and in their current form since 2003 with no major issues or breaches of trust noted. Their trading platform is also secure and safe to use though it does not offer 2-factor authentication at present.
It is also worth noting that as Interactive Investor is a UK company and regulated by the FCA, you will also be protected by ICF insurance which covers your funds up to £85,000 in the event of any unforeseen financial issues on the company side.
At Interactive Investor, you will find a decent range of choices when it comes to stocks and ETFs while trading in bonds, and mutual funds are also available. This is as far as the range of available assets currently goes with the broker also focused on offering ISA, and SIPP account types to UK investors.
Digging into the actual markets, you will have a choice of stocks and ETFs that runs into the thousands from no less than 16 major stock exchanges around the world. This is close to being on par with similar brokers, particularly in the UK.
Similarly, Interactive Investor operates at a very competitive level with their offering of mutual funds to invest in. There are presently around 150 of these available to choose from. There are slightly fewer bonds to trade with only UK government bonds currently offered by the broker.
Commissions & Fees
Fees at Interactive Investor will depend firstly on the fee structure you choose from the broker. You have three options in this regard.
The first fee structure plan is known as the “Investor” plan. This comes with a £9.99 fixed monthly fee and your trades on UK/US stocks and UK funds will be £7.99 per trade with international stock trades at £19.99 per trade.
The second plan is the “Funds Fan” structure which is £13.99 as a flat monthly fee, the same UK/US stocks at £7.99 per trade and international stock trades at £19.99 per trade with the difference being a reduced £3.99 on UK mutual funds per trade.
The final price plan is called “Super Investor” and comes with a £19.99 flat monthly fee but reduced fees on trades with £3.99 per trade on UK stocks, £4.99 for US stocks, £9.99 on other stocks, and £3.99 on UK mutual funds.
Overall, these options, and the general fees and commissions are competitive within the sector and work to provide a good deal of flexible choice for you to select based on your own trading preferences. The broker also charges no inactivity, deposit, or withdrawal fee from their side.
Interactive Investor offers a proprietary trading platform that is available as a webtrader, or on mobile. They do not provide a desktop trading platform.
Within the trading platform itself, you will find the web-based platform to be well designed, easy to navigate, and generally user-friendly. The intuitive search bar function is particularly useful for selecting assets while several order types are provided. These include “Good till date” orders, and “fill or kill” orders beyond the standard types you would expect. The platform also caters to a good deal of charting functions and indicators that will suit more experienced traders.
On mobile, your experience of the platform will be similar. Again it is easy to use and presented in a simple, intuitive fashion with no real loss of capability against the web platform. The Interactive Investor mobile platform can be accessed both on your iOS or Android device.
If you need customer service from Interactive Investor you will find this to be extremely helpful and professional. The support team is contactable by phone and email. Their phone support lines typically connect quickly and the service offered is excellent. When it comes to emails these too, are answered quickly and with relevant, helpful answers to your questions.
The customer support team is reachable between 7:45am and 5:30pm GMT. Unfortunately, this does mean that 24/7 support is out of the question, and they currently do not offer any live chat service. In all though, the service performs very well in the support that is given.
Continued learning is an important aspect of any trading journey and having a broker that can facilitate your desire to learn is a great positive. You will find a lot of excellent content at Interactive Investor in this regard. There are trading platform tutorials that guide you through each step of the process alongside helpful and regularly updated educational videos and articles.
These resources are targeted not only at new traders but also those with more experience who want to continue evolving and advancing their trading skills and knowledge. You will also be able to make good use of the demo account offered by the broker. This is a risk-free way to learn, or test trading strategies.
In all, Interactive Investor provides a great trading environment for UK stock traders. You can rely on their excellent reputation backed by top-tier regulation and many years in the industry. Secondly, they offer a proprietary trading platform that is well-regarded, easy to use, and offers access to their extensive range of assets.
These core points are well supported by a competitive fee infrastructure and the opportunity to continue your development with some quality resources. These points combined make it clear why Interactive Investor is a popular choice as a top UK stockbroker.