Why choose Interactive Investor
Interactive Investor is a UK-based investment service provider regulated by the top-tier FCA.
Its trading platforms are user-friendly and well-designed. Deposit and withdrawal are easy, fast and mostly free. If you need phone assistance from customer service, they answer quickly. It is a good choice for beginner investors.
On the negative side, Interactive Investor‘s product portfolio only covers traditional products, like funds from the UK market and stocks. Furthermore, sophisticated charting and analytic tools are missing, and there is a monthly account fee.
AwardBroker gave Interactive Investor a 4.6/5 rating based on analyzing 600+ criteria and testing via opening a live account.
| ✅ Pro | ❌ Cons |
| ❖ User-friendly trading platforms ❖ Fast and easy deposit and withdrawal ❖ Interest on cash balances | ❖ Limited product portfolio ❖ Basic charting and analytic tools ❖ Monthly account fee |
Interactive Investor at a glance
| 🗺 Country of regulation | UK |
|---|---|
| 💰 US stock fee | £3.99 per trade |
| 💰 Inactivity fee charged | No |
| 💰 Withdrawal fee | $0 |
| 💰 Minimum deposit | $0 |
| 💵 Available base currencies | GBP, EUR, USD, CAD, HKD, SGD, AUD, SEK, CHF |
| 💵 Conversion fee of deposits in non-base currency | 1.5% mark-up for positions under £25k |
| 💳 Deposit with bank card | Available |
| 🕖 Time to open an account | 1 day |
| 🎮 Demo account provided | Yes |
| 🛍️ Products offered | Stock, ETF, Fund, Bond |
Fees
Score: 3.3/5
Interactive Investor has average trading fees, including low fund fees, while regular investments are free. On the other hand, there is a monthly account fee.
| ✅ Pro | ❌ Cons |
| ❖ Low fund fees ❖ Regular investments are free ❖ Interest on cash balances | ❖ Monthly account fee |
We compared Interactive Investor‘s fees with two similar brokers we selected, AJ Bell Youinvest and Hargreaves Lansdown. These competitors were selected based on objective factors like products offered, client profile, fee structure, etc. See a more detailed comparison of Interactive Investor alternatives.
Low stock and ETF commission
Interactive Investor US stock fees are higher than the industry average. US stock fees are calculated as follows: £3.99 per trade
| Broker | US stock |
|---|---|
| Interactive Investor | $5.0 |
| AJ Bell Youinvest | $12.4 |
| Hargreaves Lansdown | $14.9 |
However, it has favorable rates compared to its close competitors if you trade UK and US shares.
Low mutual fund commission
Interactive Investor Mutual fund fees are about half of the industry average. Mutual fund fees are calculated as follows: £3.99 per trade
| Broker | Mutual fund |
|---|---|
| Interactive Investor | $5.0 |
| AJ Bell Youinvest | $1.9 |
| Hargreaves Lansdown | $0.0 |
However its close competitors have much lower charges.
Please move your cursor over the dollar amounts to view the exact rundown of costs in pounds.
Low bond commission
Interactive Investor EU/UK government bond fees are less than half of the industry average. EU/UK government bond fees are calculated as follows: £3.99 per trade
| Broker | EU/UK government bond |
|---|---|
| Interactive Investor | $5.0 |
| AJ Bell Youinvest | $12.4 |
| Hargreaves Lansdown | $14.9 |
It charges less than its closest competitors.
Please hover over the dollar amounts to view the exact rundown of costs in pounds.
No inactivity fee, low withdrawal fee
It charges no inactivity fee and there is also no withdrawal fee for standard withdrawals. Withdrawal fees are charged, though, if you make an instant withdrawal in sterling or euro, or if you make a regular withdrawal in currencies other than these.
On the negative side, there is a monthly account fee, which ranges from £9.99 to £19.99 depending on which service plan you use.
| Broker | Inactivity fee | Withdrawal fee |
|---|---|---|
| Interactive Investor | $0 | |
| AJ Bell Youinvest | $0 | |
| Hargreaves Lansdown | $0 |
Currency conversion fees
Interactive Investor's currency conversion fees are high for amounts under £100,000. You can either convert your cash manually or, alternatively, the system will do it for you if you want to buy a security in a currency other than what is on your account (e.g. if you want to buy a US stock quoted in dollars and you have your cash balance in pounds).
| Currency conversion fee | |
|---|---|
| £0 – £24,999 | 1.50% |
| £25,000 – £49,999 | 1.25% |
| £50,000 – £99,999 | 1.00% |
| £100,000 – £599,999 | 0.50% |
| £600,000 – | 0.25% |
Bear in mind that when using automatic conversion for trades that required multiple fills to execute, you will be charged the FX conversion rate applicable to each individual fill. This may result in a higher FX charge than would be calculated against the whole.
Safety
Interactive Investor is regulated by the top-tier FCA, making you eligible for £85,000 of investor protection.
| ✅ Pro | ❌ Cons |
| ❖ User-friendly trading platforms ❖ Fast and easy deposit and withdrawal ❖ Interest on cash balances | ❖ Limited product portfolio ❖ Basic charting and analytic tools ❖ Monthly account fee |
Pros
- Majority of clients belong to a top-tier financial authority
- High level of investor protection
- Parent company listed on LSE
Cons
- Does not hold a banking license
Is Interactive Investor regulated?
Yes, it is regulated by the Financial Conduct Authority (FCA).
Is Interactive Investor safe?
To be certain that a brokerage is safe, we highly advise that you check two facts:
- how you are protected if something goes wrong
- the background of the broker.
How you are protected
This is important for you because the investor protectionamount and the regulator differ from entity to entity.However, this is not an issue in this case, as all customers are covered by Interactive Investor Services Limited.This means that due to the FCA regulation you get investor protection for an amount of up to £85,000.
| Country of clients | Protection amount | Regulator | Legal entity |
|---|---|---|---|
| All clients | £85,000 | FCA | Interactive Investor Services Ltd. |
Background
Interactive Investor is a direct-to-investor investment service, with headquarters in the United Kingdom. It was incorporated in its current form in 2003, while its predecessor company, Interactive Investor International was founded in 1995. The longer track record a broker has, the more proof we have that it has successfully survived previous financial crises.
Interactive Investor was recently acquired by abrdn, a publicly-listed company that is also part of the FTSE 100 index.
Deposit and withdrawal
Score: 3.9/5
Deposit and withdrawal are easy, quick and mostly free. On the negative side, electronic wallets and credit/debit cards are not accpeted for withdrawal.
| ✅ Pro | ❌ Cons |
| ❖ User-friendly trading platforms ❖ Fast and easy deposit and withdrawal ❖ Interest on cash balances | ❖ Limited product portfolio ❖ Basic charting and analytic tools ❖ Monthly account fee |
Pros
- Credit/Debit card available
- No deposit fee
- Free withdrawal in GBP or EUR
Cons
- No credit/debit card withdrawal
Account base currencies
At Interactive Investor, you can choose from the following 9 base currencies:
| GBP | EUR | USD |
| CAD | HKD | SGD |
| AUD | SEK | CHF |
Interactive Investor offers a great base currency selection when compared to its closest competitors.
| Broker | Number of base currencies |
|---|---|
| Interactive Investor | 9 |
| AJ Bell Youinvest | 1 |
| Hargreaves Lansdown | 1 |
Why does this matter? For two reasons. If you fund your trading account in the same currency as your bank account or you trade assets in the same currency as your trading account base currency, you won't have to pay a conversion fee.
A convenient way to save on currency conversion fees is by opening a multi-currency bank account at a digital bank. These usually offer bank accounts in several currencies with great currency exchange rates, as well as free or cheap international bank transfers. Opening an account only takes a few minutes on your phone.
Deposit fees and options
Interactive Investor charges no deposit fees.
Using a debit card, you can deposit money instantly up to £99,999. You can also send money via bank transfer. If you wish to transfer money in a currency other than GBP or EUR, you will need to contact Interactive Investor for details of the appropriate bank account where you should transfer the money.
| Broker | Bank transfer |
|---|---|
| Interactive Investor | |
| AJ Bell Youinvest | |
| Hargreaves Lansdown |
A bank transfer can take several business days, while payment with a credit/debit card is instant. You can only deposit money from accounts that are in your name.
Interactive Investor review – Deposit and withdrawal – Deposit
Interactive Investor withdrawal fees and options
Standard withdrawals in pounds and euros are free with Interactive Investor. Withdrawals can only be made via bank transfer.
| Broker | Bank transfer |
|---|---|
| Interactive Investor | |
| AJ Bell Youinvest | |
| Hargreaves Lansdown |
You can only withdraw money to accounts in your name.
If you wish to make an urgent withdrawal in GBP or EUR, or if you want to withdraw money in any of the other currencies, then a flat fee of £15 is charged.
How long does it take to withdraw money from Interactive Investor? If your withdrawal request is submitted before 2 pm, your money can arrive the next day. Otherwise, it will take 2 business days. Urgent transfers arrive on the same day if requested before 2 pm. You can only withdraw money to accounts in your name.
How do you withdraw money from Interactive Investor?
- Once logged in, click the ‘Cash and transfers' button in the top header
- Select ‘Withdraw/transfer cash'
- Click ‘Bank transfer'
- Add your bank account or choose from the list of accounts you previously added; click the ‘Transfer' button next to the one you wish to withdraw the funds to
- Specify the amount, the investment account you want to withdraw money from, the withdrawal type (standard or urgent), and whether you want to set up a recurring withdrawal
- Tick the box to accept the conditions of the withdrawal and click ‘Check and Preview'
- If all details are correct, click ‘Confirm'
Interactive Investor review – Deposit and withdrawal – Withdrawal
Account opening
Score: 5/5
Opening an account with Interactive Investor is fast, fully digital, and involves no minimum deposit, but only UK addresses are accepted.
| ✅ Pro | ❌ Cons |
| ❖ User-friendly trading platforms ❖ Fast and easy deposit and withdrawal ❖ Interest on cash balances | ❖ Limited product portfolio ❖ Basic charting and analytic tools ❖ Monthly account fee |
Pros
- Fast
- Fully digital
- No minimum deposit
Cons
- Only UK residents accepted
Can you open an account?
What is the minimum deposit at Interactive Investor?
The required Interactive Investor minimum deposit is $0.
However, as there is a flat monthly subscription fee to use the platform, you need to have this amount available on your account. Alternatively, you can set up a direct debit to pay monthly fees.
Account types
Interactive Investor has a variety of accounts available in the UK:
| Account type | Short description |
|---|---|
| Trading Account – Tested Account | Basic investment account; Joint Trading Account also available |
| Stocks and Shares ISA | ISA account to invest tax-free up to the yearly limit |
| Self Invested Personal Pension (SIPP) | Tax-efficient pension investment account |
| Junior Stocks and Shares ISA | ISA account to invest tax-free on behalf of a child |
| Company Account | Trade in the name of a UK Limited Company |
| Pension Trading Account | Invest in assets (e.g. property) that aren’t tradeable via Interactive Investor |
| Pension Essentials | Entry-level subscription plan for pension pots under £50,000 |
| Free Research Account | A demo account |
| Cash Savings Account | A standalone account that gives access to interest rates from different banks |
In this review, we tested the Trading Account.
In Ireland, only the Trading Account is available.
How to open your account
For UK residents, opening an account is a straightforward and fast procedure. Verification takes place online; if successful, you're done in about 10 minutes. However, there is no option to provide a non-UK address.
If, for any reason, online verification fails, you'll need to send in certified copies of your:
- proof of identity, e.g. passport or UK driver's license, and
- proof of residence, e.g. bank statement or utility bill.
In our experience, these copies are received and processed surprisingly quickly (1-2 business days). However, we had a hiccup with the verification process, so the documents that were posted were not immediately accepted by Interactive Investor. Following this, they didn't reply to our email for 14 days, but then they replied to our follow-up email the next day. It was an experience of extremes: Interactive Investor was either super responsive or extremely unresponsive.
Interactive Investor review – Account opening
Mobile app
Score: 4.3/5
The Interactive Investor mobile trading platform is user-friendly and has a good search function. However, it lacks a two-step login and you can't set alerts.
| ✅ Pro | ❌ Cons |
| ❖ User-friendly ❖ Good search function ❖ Touch/Face ID login | ❖ No two-step (safer) login ❖ No price alerts |
Interactive Investor rolled out a new mobile app in early 2021, which is a notable improvement from the previous mobile platform.
It is available only in English, for both iOS and Android. We tested it on Android.
Look and feel
The Interactive Investor mobile trading platform is user-friendly and has a very simplistic design.
Charting is very basic in the app,and unfortunately you cannot use any technical indicators, unlike on the web platform.
Interactive Investor review – Mobile trading platform
Login and security
Interactive Investor provides a safer, two-step login for its mobile platform.
You can log in using biometric authentication, which is a convenient feature.
Search functions
The search functions are good.
You can search in the same way as on the web trading platform.
Interactive Investor review – Mobile trading platform – Search
Placing orders
You can use the following order types on the mobile trading platform:
- Market
- Limit
- Stop Loss
There are also order time limits you can use:
- Good 'til date (GTD)
- Fill or Kill
Interactive Investor review – Mobile trading platform – Order panel
Alerts and notifications
You cannot set alerts and notifications on the Interactive Investor mobile platform.
Desktop platform
Score: 4.3/5
Interactive Investor‘s web trading platform is user-friendly and easy to use, but the platform cannot be customized.
| ✅ Pro | ❌ Cons |
| ❖ User-friendly ❖ Clear fee report ❖ Two-step (safer) login | ❖ Limited customizability (for charts, workspace) |
Product selection
Score: 2.6/5
Interactive Investor offers stocks, ETFs, funds, and bonds, but funds and bonds cover only the UK market.
This selection falls behind competing brokers. Both AJ Bell Youinvest and Hargreaves Lansdown offer more stock markets to trade on.
Stocks and ETFs
Interactive Investor gives you access to European, Australian, some North American and some Asian stock exchanges.
The number of stocks and ETFs offered lags behind what its close competitors offer.
| Broker | Stock markets (#) |
|---|---|
| Interactive Investor | 16 |
| AJ Bell Youinvest | 19 |
| Hargreaves Lansdown | 21 |
There are 16 markets available globally on the online platform. Additionally, the Swiss and the Swedish exchanges are available via phone orders.
| Europe | North America | Asia/Pacific |
|---|---|---|
| London Stock Exchange | American Stock Exchange | Singapore Exchange |
| Amsterdam Stock Exchange | NASDAQ | Hong Kong Stock Exchange |
| Brussels Stock Exchange | NYSE | Australian Securities Exchange |
| Paris Stock Exchange | Toronto Stock Exchange | |
| Irish Stock Exchange | TSX Venture Exchange | |
| Madrid Stock Exchange | ||
| Italian Stock Exchange | ||
| Deutsche Boerse Exchange |
Funds
Interactive Investor‘s mutual fund offer is great.
| Broker | Fund providers (#) |
|---|---|
| Interactive Investor | 190 |
| AJ Bell Youinvest | 270 |
| Hargreaves Lansdown | 180 |
This selection is average compared to competing brokers.
Bonds
Due to the limitations of the trading platform, it is not easy to establish the number and range of bonds available to trade at Interactive Investor. We found only UK government bonds.
| Broker | Bonds (#) |
|---|---|
| Interactive Investor | 26 |
| AJ Bell Youinvest | 200 |
| Hargreaves Lansdown | 190 |
This selection falls behind competing brokers. Both AJ Bell Youinvest and Hargreaves Lansdown list more bonds.
FAQ
We recommend Interactive Investor for beginners and investors focusing on the UK market.
Below you can find links to all aspects of Interactive Investor in this comprehensive collection.
Lower fees, lower costs?
We detailed this in our Interactive Investor fees article.
What about the minimum deposit?
Our ultimate guide to the Interactive Investor minimum deposit is updated regularly.
How to start your Interactive Investor account?
Look no further than our evaluation of the Interactive Investor account opening.
How's their trading app?
Here's our expert view after checking the Interactive Investor trading app.
Is the quality of customer service satisfactory?
All you need to know about the Interactive Investor customer service.
Legit or scam?
Is Interactive Investor legit features all the key aspects you need to look at to see if a broker is safe and legit.
Free or premium? Or both?
A glance at actual costs and whether Interactive Investor is really free.
Is this broker good for beginners?
We checked it in Is Interactive Investor good for beginners.
Should you buy your silver bullets on Interactive Investor?
Research for silver bugs in the Silver buy on Interactive Investor guide
I want to trade options, are they available at Interactive Investor?
We explored the topic in Can you trade options on Interactive Investor?
What is the minimum account balance at Interactive Investor?
Check out the current account balance requirements at Interactive Investor in our What is the minimum account balance at Interactive Investor article.
Looking for commission and fees data for Interactive Investor?
We collected them in Interactive Investor commission and fees.
How do you withdraw money from Interactive Investor?
We tested it and collected the options and costs in How to withdraw money on Interactive Investor.