Jasmine Birtles
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Best Low-Cost UK Investment Platforms in 2026
Ruby Layram
9th Jul 2026
According to new research from trading platform IG, published in its “Fat Cat Index” this month, 52% of UK investors are currently using one of the 12 most expensive Stocks and Shares ISA platforms. Active investors making around six trades a month are overpaying by an average of £515 a year compared with cheaper alternatives, while even passive, buy-and-hold investors are losing out on roughly £263 a year.
That’s real money that could be growing in your ISA instead of lining a platform’s pockets. If you’ve never actually compared what you’re paying, now’s a great time to check. Below, we break down six of the UK’s most popular low-cost platforms so you can see exactly where your money goes.
Platform Fees, Explained Simply
Before we dive in, three terms are worth knowing:
- Platform fee: an ongoing charge (often a flat monthly fee or a % of your holdings) just for having your money on the platform.
- Dealing/trading fee: what you pay each time you buy or sell a share, fund, or ETF.
- FX fee: a currency conversion charge applied when you buy shares priced in a currency other than pounds (e.g. US stocks).
The cheapest platform for you depends on how often you trade, how much you’re investing, and whether you want a Self-Invested Personal Pension alongside your ISA.
6 of the Best Low-Cost UK Investment Platforms
1. Trading 212
Trading 212 remains one of the cheapest all-round options for UK investors: no platform fee, no annual account fee, and commission-free trading on shares and ETFs.
Its main charges are a low 0.15% FX fee on non-GBP trades and a 0.7% fee on debit card top-ups above £2,000 a year.
On a £50,000 ISA with 12 trades a year, Trading 212 works out at £0 in platform fees, hard to beat. The catch: it doesn’t offer a SIPP, so if you want your pension and ISA under one roof, you’ll need a second platform.
2. InvestEngine
InvestEngine is free for DIY investing in its 860+ ETF range, with no platform fee, making it a strong choice if you want a simple, ETF-only portfolio. It also offers a free SIPP (a rarity) and an optional managed portfolio service at 0.25% if you’d rather have your investments looked after for you.
Worth knowing: because it’s ETF-only, it’s not the platform for buying individual company shares.
3. Freetrade
Freetrade’s Basic plan now comes with no SIPP account fee (as of January 2026), making it more competitive for retirement saving than before.
Its FX fees are higher than Trading 212’s, though, ranging from 0.39% on the Plus plan up to 0.99% on Basic- worth factoring in if you invest heavily in US shares. It’s a solid, easy-to-use option, particularly for beginners who want a clean, simple app.
4. AJ Bell
AJ Bell caps its share and ETF dealing charge at £3.50 a month and its SIPP fee at £10 a month (0.25%), which makes it competitive for people with larger portfolios, since the fees don’t keep climbing as your balance grows. On a £50,000 ISA with 12 trades a year, AJ Bell comes out at roughly £185 — more than Trading 212, but you get a broader range of research tools and account types.
5. Hargreaves Lansdown
Hargreaves Lansdown is the UK’s best-known investment platform, prized for its customer service, research, and range of guidance.
That reputation comes at a price, though: a 0.35% platform fee plus £6.95 per trade, working out at roughly £258 a year on a £50,000 ISA with 12 trades. It’s worth it for some investors who value hand-holding and in-depth research, but pure cost-cutters will likely find cheaper homes elsewhere.
6. Interactive Investor (ii)
Interactive Investor uses a flat monthly subscription rather than a percentage fee, which can be a real advantage for larger portfolios where percentage-based fees add up fast. Its Premium plan (£39.99/month) includes unlimited family accounts and free Junior ISAs.
New customers can currently get £100 in free trades when opening an ISA or Trading Account before the offer ends 31 July 2026. Flat fees mean smaller portfolios may pay proportionally more, so this suits investors with bigger pots best.
How to Choose the Right Platform for You
There’s no single “best” platform, it depends on your situation:
- Small, simple portfolio, rarely trade: Trading 212 or InvestEngine (free platform fees).
- Want a pension and ISA together, low cost: InvestEngine or Freetrade.
- Larger portfolio (£50k+): AJ Bell’s capped fees or Interactive Investor’s flat fee could work out cheaper.
- Want lots of research and support: Hargreaves Lansdown, if you’re happy to pay a bit more for it.
What to Do Next
- Add up what you paid in platform, dealing, and FX fees last year- most platforms show this in your account statements.
- Compare that figure against the platforms above using a similar portfolio size and trading frequency.
- If you’re significantly overpaying, look into transferring your ISA- this can usually be done without losing your tax-free wrapper, as long as you transfer rather than withdraw and reinvest.
- Don’t switch on price alone- check the platform offers the funds, ETFs or shares you actually want to hold.
- Start small if you’re moving providers for the first time, and be patient while you get used to a new platform’s interface.
EXPLORE OUR TOP RATED INVESTING APPS
Fees might seem small day to day, but they compound over decades just like your returns do, an extra £515 a year saved and invested could add up to a meaningful sum over a 20- or 30-year investing horizon.
It’s easy peasy to check what you’re currently paying, so there’s really no excuse not to have a quick look this week.
This article is for general information and educational purposes only and does not constitute regulated financial advice. Investing involves risk, and the value of your investments can go down as well as up, you may get back less than you put in. Platform fees, offers, and terms can change, so always check current details directly with the provider before making a decision. Please do your own research or speak to a regulated financial adviser before making investment decisions.
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