How to Choose an Investment Platform in the UK

Once you've decided to start investing, the next question is where. In the UK you can't just buy a fund directly — you need an investment platform (sometimes called a broker), which works like an online shop for shares, funds and ETFs.

Pick the account type first. A Stocks & Shares ISA is the natural starting point for most people: growth and income inside it are free of income tax and capital gains tax, up to an annual allowance of £20,000. A SIPP does something similar for retirement money, with tax relief added on top, but locks the money away until at least 57. A General Investment Account (GIA) has no tax-free allowance or age limit, and is mainly useful once you've already filled your ISA allowance for the year.

Then compare platforms. Vanguard Investor keeps things simple with low fees but only its own funds. AJ Bell and Hargreaves Lansdown offer a wider range of funds and shares, with Hargreaves Lansdown's slightly higher fees reflecting its more polished app and research tools. Trading 212 and Freetrade offer commission-free trading aimed at beginners, though with a narrower fund range. Nutmeg and Moneybox build a portfolio for you as "robo-advisors," which costs more but suits people who'd rather not choose funds themselves.

Fees matter more than they look. A platform charging 1% in total fees rather than 0.25% doesn't sound like much, but on a growing pot over 20 or 30 years, that gap can cost thousands. When comparing platforms, check both the platform's own fee and the fee charged by whichever fund you plan to hold.

What to actually do. Shortlist two platforms that offer the account type you want, compare their published fee tables side by side, and check whether the specific fund you're interested in is available on each before deciding.

General information only — this isn't a recommendation to use any specific platform or product, and fees and terms change.