Vanguard Trading Platform Uk

Vanguard trading platform uk

 Last updated on 30 August 2019.

Behold! An at-a-glance cost comparison of the UK’s main online brokers and investment platforms. These services enable you to buy, manage, and sell your funds, shares, investment trusts and ETFs at a cheap price. All these services are online and execution-only.

The Good for column shows what we think is the best deal by price, relative to account type and portfolio mix.1

This table is edited by fallible human beings.

Do your own research. We fix mistakes as soon as possible but we cannot be held liable or accountable for any errors. Please add updates or erratas in the comments below.

Like other price comparison websites, we may be paid a bonus if you sign-up via a link. This does not affect what you pay.

Flat fee brokers / platforms

 

CompanyAnnual platform feeFee notesDealing: FundsDealing: ETFs, ITs, & sharesRegular investingEntry feeExit fee2Good for
Halifax / Bank Of Scotland Share Dealing£12.50£12.50£2
Shares ISA£12.50
Trading
SIPP£90 if SIPP worth less than £50K.

Get to know how online trading works

£180 if SIPP more than £50K

+ £180 p.a. drawdown£60 per transfer. Max £300£90Fund portfolios above £102K
iWeb£25 one-off account opening charge3£5£5Large portfolios and infrequent traders, check vs ii, Share Centre, Lloyds and Halifax
Shares ISA
TradingThe cheapest if you rarely trade
SIPP£90 if SIPP worth less than £50K.

£180 if SIPP more than £50K

+ £180 p.a. drawdown£60 per transfer. Max £300£90Fund portfolios above £102K
Lloyds Bank Share Dealing£40Only one fee if you hold ISA and trading account£1.50£11*£1.50£0
Shares ISAFund portfolios over £26K4, unrestricted mixed ETF/fund portfolios5
TradingFund portfolios over £26K6, unrestricted mixed ETF/fund portfolios7
SIPPn/a
Interactive Investor8£119.88 Investor Plan91 free trade per month10£7.9911£7.9912Free£0
Shares ISA
Trading –
SIPP+ £120+ £120 p.a.

drawdown

ShareDeal ActiveTelephone dealing only for funds£9.50£9.50£12 per holding + £60 account closure
Shares ISA£60£18 cash withdrawal
TradingAs above
SIPP£118.80No fee for first year.

+ £180 p.a. drawdown

HSBC Invest Direct£42Charge per account. No fundsn/a£10.5013£15 per holding
Shares ISA
Trading –
SIPPn/a
The Share Centre1%.

£7.50 min*

1%. £7.50 min*0.5%. Min £1Large trading accounts
Shares ISA£60£25
Trading£24£25Alternative to Halifax, iWeb, Selftrade, Lloyds
SIPP£180+ £234 p.a.

drawdown

 £125

Note: Charges may actually be due per month, quarter, six monthly or annually. We’ve chosen to show annual cost of service. All prices include VAT.

Vanguard investment platform: is it cheapest? Fees, funds and more

*A frequent trader rate or bonus is also available. Other charges may be applicable that aren’t included in the table. N.B. Accounts held with Halifax / Bank Of Scotland, Lloyds Bank, and iWeb count as one for the purposes of the FSCS compensation scheme.

Percentage fee brokers / platforms

 

CompanyAnnual platform feeFee notesDealing:
Funds
Dealing: ETFs, ITs, & sharesRegular investingEntry feeExit fee14Good for
Vanguard Investor0.15% on first £250,000, 0% thereafter.

Tiered charge. Max £375

Investments restricted to Vanguard funds and ETFs only£0£0 for fixed daily times, £7.50 to trade at other times£0£0Beats other % fee brokers in most cases and flat-fee brokers up to £43K-£55K but restricted range
Shares ISAFund portfolios up to £43K, mixed ETF/fund up to £55K, ETF portfolios up to £47K
TradingFund portfolios up to £43K, mixed ETF/fund up to £55K, ETF portfolios up to £47K
SIPPn/a
Cavendish Online0.25% on all investments0.20% on whole balance if over £200K in all accounts combined£0£1.50
(Not charged on funds)
£0Small fund portfolios
Shares ISA£10Fund portfolios below £26K
Trading£10Fund portfolios below £26K
SIPP£3 for new contribs, £1.50 for other trades15Fund portfolios below £102K
AJ Bell Youinvest0.25% on first £250,000 of funds16Tiered charge e.g.

0.25% on first £250K then 0.1% on next £750K etc

£1.50£9.95*£1.50£25 per holding
Shares ISA+ 0.25% charge (max £30) on ETFs, ITs, shares, and bonds
TradingAs above
SIPP+ 0.25% charge (max £100) on ETFs, ITs, shares, and bonds+ £120 p.a.

drawdown

+ £90Unrestricted ETF and mixed ETF/fund portfolios
Fidelity0.35% on all assets worth £7500 – £249,99917Assets under £7500 = £45 p.a. or 0.35% with monthly savings plan18£0£10£1.50 (Not charged on funds)£0
Shares ISAETF and IT fees capped at £45
TradingETF and IT fees waived
SIPPETF and IT fees capped at £45£0 drawdownETF portfolios – restricted range
Charles Stanley Direct0.35% on first £250,000 of funds190.35% on shares, ETFs and ITs.

Min £24 / Max £24020

£0£11.50£10 per holding
Shares ISA
Trading
SIPP+ £120No £120 charge if £30,000+ across all accounts.

+ £60 p.a.

Mistakes binary option traders tend to make

drawdown

+ £150
Selftrade0.3% on first £50K of funds.

0.25% £50K – £250K. 0.15% over £250K.

Vanguard trading platform uk

£1,000 max. Tiered

+ £12.50 (+ £4.99 per account) minus dealing fees/fund platform charges per quarter. Min £0 / Max £89.92 p.a.£0 buy, £10.99* sell£9.99* ETFs,£10.99* shares, ITs£1.50£15 per holdingETF portfolios with unrestricted range
Shares ISAUnrestricted ETF portfolios21
Trading£4.99 quarterly account charge waived if you own ISA / SIPPUnrestricted ETF portfolios22
SIPP+ £118.80+ £180 p.a.

drawdown

+ £90
HSBC Global Investment Centre0.25% on all investmentsTrackers restricted to HSBC index funds only£0£0Small fund portfolios
Shares ISA
Trading
SIPPn/a
Close Brothers0.25% on all investments£0£8.95£0Small fund portfolios
Shares ISA
Trading
SIPP£0 drawdown
BestinvestPlatform fee applies to all investmentsTiered charge e.g.

Buying & selling mutual funds

0.4% on first £250K, 0.2% on next £750K etc

£0£7.50 –
Shares ISA0.4% on first £250,000230.2% £250,001 – £1 million, 0% over £1 million
TradingAs aboveAs above
SIPP£120 p.a.

+ 0.3% on first £250,00024

0.2% £250,001 – £1 million, 0% over £1 million. + p.a. £120  drawdown25
Barclays Smart Investor0.2% on funds (£48 min, £1500 max)0.1% on ETFs, ITs, shares, bonds (£48 min, £1500 max)£3£6*£1£0
Shares ISA
Trading
SIPP+ £150+ £120 p.a.

drawdown

£90 per transfer capped at £450+ £90
Hargreaves Lansdown0.45% on first £250,000 of funds26Tiered charge. You pay 0.45% on first £250K then 0.25% on next £750K etc£0£11.95*£1.50 (Not charged on funds)£30 account closure + £25 per holding
Shares ISA+ 0.45% charge (max £45) on ETFs, ITs, shares, and bonds
Trading
SIPP+ 0.45% (max £200) on ETFs, ITs, shares, and bonds£0 drawdown
Aviva0.4% on first £50,000 of funds27Tiered charge.

What is an investment tracker fund?

You pay 0.4% on first £50K then 0.35% on next £200K etc

£0£0
Shares ISA
Trading
SIPP£0 drawdown

Note: Charges may actually be due per month, quarter, six monthly or annually.

We’ve chosen to show annual cost of service. All prices include VAT. *A frequent trader rate or bonus is also available. Other charges may be applicable that aren’t included in the table.

Share dealing brokers

 

CompanyAnnual platform feeFee notesDealing:
Funds
Dealing: ETFs, ITs, & sharesRegular investingEntry feeExit fee28Good for
Degiro £0Degiro may lend out your shares.

A custody account avoids this but charges €1 + 3% (max 10%) for dividend payouts29

n/aSome commission-free ETFs.30 €2 + 0.038% for other ETFs. £1.75 + 0.022% for shares31€10 per holding€10 per holdingCommission-free ETF range, frequent traders
Shares ISAn/a
Trading
SIPPn/a
FreetradeSmartphone app only.
Restricted list of ETFs
n/a£0 for fixed daily time, £1 to trade at other times£0Commission-free ETF range, frequent traders
Shares ISA£36
Trading
SIPPn/a
X-O.co.uk No fundsn/a£5.95£18 per holding
Shares ISA+ £60 account closure
Trading
SIPP£118.80No fee for first year.

+ £180 p.a. in drawdown

+ £60
IGFunds in SIPP only.

Vanguard trading platform uk

Only one fee for ISA and trading account

£0£8*
Shares ISA£96£24 waived quarterly by 3+ trades a quarter in trading account32£0
Trading£96As above£0
SIPP£200 + 0.18% on first £500,000 of fundsTiered charge.

0.15% £500,001 – £1 million, 0.05% over £1 million. + £150 p.a. in drawdown

+ £150
Interactive Brokers$10 inactivity fee per month.

Reduced by value of trades33

$20 inactivity fee per month if equity balance below $2,00034n/a£635International shares / ETFs
Shares ISAn/a
Trading
SIPPFees vary
Trading 212£0Restricted list of ETFsn/a£0£0Commission-free ETF range, frequent traders
Shares ISA
Trading
SIPPn/a

Note: Commission-free brokers generally make money from spreads, foreign exchange fees and cross-selling of other services.

Charges may actually be due per month, quarter, six monthly or annually. We’ve chosen to show annual cost of service. All prices include VAT.

Vanguard trading platform uk

Other charges may be applicable that aren’t included in the table.

Who is this online broker comparison table aimed at?

We have focussed on low cost platforms that suit DIY investors who want to build a diversified portfolio through index funds and ETFs. The Good for column is therefore aimed at passive investors.

Percentage fee brokers are much better for small investors whose assets are likely to remain below £25,000 (in an ISA) or £100,000 (in a SIPP and depending on the mix of assets) for some time to come.

Vanguard Investor UK review – is it the best in the market?

If you can only invest small amounts at a time then choose a broker who charges £0 for fund dealing. (Aim to pay no more than 0.5% of your contribution in dealing costs, at the very most).

Fixed fees take a disproportionate chunk out of the assets of small investors.

Vanguard trading platform uk

This is why Vanguard Investor or Cavendish Online are generally the best for small investors using ISAs and Cavendish Online is best for small investors using SIPPs.

Flat fee brokers are better for most investors who’ve accumulated over £25,000 (in an ISA) or £100,000 (in a SIPP and depending on the mix of assets) – percentage fees can siphon off eye-watering amounts if your broker doesn’t apply a cap.

Sadly, the table is complicated because every broker is trying to carve out a niche for itself by offering something slightly different to its competitors.

That means there is no one size fits all solution. The Good for column in the table gives you an idea of each broker’s strengths.

Our calculations assume one purchase per month and four sales per year, and that you take advantage of lower priced regular investment schemes when available.

Portfolios consist of funds or ETFs or a 50:50 mix.

ETFs vs fund portfolios – Below around £25,000 you’re probably better off with funds. There’s very little to separate Interactive Investor, Halifax, Lloyds, iWeb, YouInvest, Selftrade and Share Centre above that level if you’re a moderate trader using either product type.

Ultimately, product OCFs, your trading frequency and picking the right tracker for the job will be more important.

Beginners starting in funds should look at Vanguard Investor or Cavendish Online.

Low traders – check iWeb and Halifax for ISAs.

Whichever broker you plump for, do check it carries the funds you require.

There is considerable variation in range between platforms.

Where is my missing broker?

We haven’t included every last option in this version of our table but we have included the most competitive players in the market.

Putting money in your account

Do let us know if you think we’ve missed anyone important.

More on costs and fees

The ‘Platform charge’ category is intended to capture the various types of service fee typically levied by platforms i.e.

custody fee, platform charge, administration fee, inactivity fee and so on until the end of time / your tether.

Assume platform charges are levied per account unless otherwise indicated in the notes column or the footnotes.

Platforms levy various additional costs for extras such as telephone trading.

Check a platform’s rates and charges schedule before committing.

These costs are on top of the suite of fees you will pay for investment products such as the Ongoing Charge Figure (OCF).

Take some time to calculate the likely cost of your portfolio when choosing the right broker.

SIPP charges on the table don’t include all the various additional fees levied for services once you’re in drawdown.

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The drawdown figure we do include is the annual ongoing charge you’ll pay for being in flexi-access drawdown.

Platforms run temporary offers and discounts from time-to-time. These are ignored as investing is for the long-term.

Understanding account names

Accounts names vary across the online broker universe.

How to invest in Vanguard funds

However they typically conform to the following types:

  • Trading = a taxable account i.e. it’s not not an ISA or a SIPP and will incur dividend income tax and capital gains tax if it grows large enough.

    Suitable investments typically include funds, shares, Exchange Traded Funds (ETFs), Investment Trusts (ITs), bonds and more.

  • Shares ISA = Stocks and Shares ISA. Tax sheltered.

    How To Choose an Investment Platform UK

    Suitable investments as above.

    • SIPP = Self-Invested Personal Pension. Tax sheltered. Suitable investments as above.

Check

Why are there only links to some brokers?

Links to brokers are affiliate links, where we may be paid a fee if you go on to open an account with them. We do not choose to include brokers in our table based on whether such affiliate fees are on offer, nor does the existence of such an arrangement change the fees you pay – it is a marketing payment made by them as an incentive for websites to drive traffic to their site.

We’d like more brokers to pay us when we introduce new customers – it helps us pay our way on Monevator! Including all brokers but only linking where an affiliate agreement is in place was the best compromise we could come up with.

What this table won’t tell you

Some of these brokers may not be regulated by the UK authorities.

Please check directly with each broker, and read our guide to investor compensation schemes to understand why this matters. Some broker brands are owned by the same financial group. You do not diversify your risk by splitting assets across brands owned by the same group.

More top stories

Our investor compensation scheme guide (linked to above) explains how you can identify these brands.

We’ve not considered customer service and fringe benefits such as website user experience and research tools, which may be meaningful. Ask away here or at Money Saving Expert’s Savings & Investments board, the ex-Motley Foolers on the Lemon Fool board, or reddit for a broader opinion.

We haven’t accounted for exclusive, discounted funds.

Most platforms stock much the same range but the bigger players in the market can negotiate slight fee discounts on certain funds. If you’re tempted by those ‘bargain’ offers then make very sure that your overall cost of investment isn’t more expensive once you load the platforms fees on top.

Please tell us about additions or corrections using the comment form below. Please supply a Web link to your data if possible in your comment to help us verify what should go into the table.

We’ll keep this table as up-to-date as possible, and conduct a sweeping review every three months.

Vanguard trading platform uk