- Withdrawal Fees: /
- Minimum Balance: £1.00
- Custimer Support: Phone, email, chat
- Mobile App: Yes
- Available Services: Stocks and Shares ISA, Junior ISA, SIPP, Trading Account
Last Updated: March 6, 2022
- Withdrawal Fees: /
- Minimum Balance: £1.00
- Custimer Support: Phone, email, chat
- Mobile App: Yes
- Available Services: Stocks and Shares ISA, Junior ISA, SIPP, Trading Account
- Intuitive platform
- No withdrawal fees
- Regulated by the FCA
- Admirable security measures
- Basic charting tools
- Extra fees for additional accounts
Everyone with a computer or a smart device can join a trading community and start buying and selling assets online. Moreover, as earning extra money with trading and investing is accessible to everyone, people are getting more interested in this opportunity to improve their financial health.
But, no one teaches us about investing at school, which is why many people wonder where to start, how to buy shares or manage investment accounts. So, if you’re a first-time investor who wants to buy their first stock on a secure and reliable platform, proceed to read this Interactive Investor review. I’ll show you the benefits of one of the UK’s most prominent investment platforms, and more importantly, you’ll learn how to use its tools for your success.
- What is Interactive Investor?
- Who is Interactive Investor Best for?
- How Does it Work?
- Accounts and Services
- Interactive Investor Charges
- Account Setup and Withdrawals
- Mobile App
- How Does Interactive Investor Compare?
- Customer Support
- User Reviews
What is Interactive Investor?
Founded in 1995 and currently owned by Richard Wilson, Interactive Investor is now one of the Uk’s biggest flat-free investment platforms. It provides a range of investment tools and accurate financial information to help you make better decisions regarding your assets.
Interactive Investor offers versatile investment options, allowing you to build a profitable investment model and improve your trading skills. This platform will suit the needs of beginners, but it will also help seasoned pros make better choices and stay on top of investment trends.
Regulated by the Financial Conduct Authority (FCA), Interactive Investor is a dependable and secure stockbroker. What’s more, this company offers budget-friendly services, making it an ideal option for those with small to large investment portfolios.
More importantly, the Interactive Investor app allows its clients to invest in shares, funds, trusts, and EFTs, offering practical and reliable growth and income strategies. So, suppose you want to become a stockholder who knows how to dive deep into the market and take advantage of lucrative opportunities. In that case, Interactive Investor is an excellent platform to start your trading journey.
Who is Interactive Investor Best For?
Simply put, Interactive Investor is for anyone who wants to step into the stock market and make a profit off of it. Even if you’ve never invested in shares or trusts before, Interactive Investor offers reliable resources that can help you learn the solid foundation and core concepts of investing.
What’s more, this stockbroker will provide attractive investment ideas that might shape your future and stabilise your financial health. So, if you’re wondering whether you should start using this platform, remember that Interactive Investor is for:
- Making passive income with trading
- Those who want to invest a portion of their assets and save the profits for retirement
- First-time traders and investors with no experience or knowledge of international markets
- People who want to play it safe and trade on a secure platform
- Boosting investment portfolios
- Tapping into international markets
Still, it’s essential to mention that Interactive Investor targets the UK audience mainly. However, the service is available in most other countries as well. Only citizens from a handful of countries can’t use Interactive Investor services, including Afghanistan, Zimbabwe, Syria, Myanmar, and the Republic of the Congo.
How Does it Work?
Interactive Investor is user-friendly and one of the most straightforward investment apps in the UK. Once you create an account and sign online exchange agreements, you’ll be ready to tap into 17 global exchanges and begin your trading journey from scratch.
If you’re new to dealing in shares, I’d advise you to check out Interactive Investor’s research tools first. This company brings Morningstar and Trading Central into service, and they’re both exceptional providers of fundamental and technical investment research. Likewise, you’ll find hundreds of articles and short educational videos that can help you make use of this mobile trading platform and learn the fundamentals of investing.
The company also offers a demo account to help you familiarise yourself with the app and trading practices. Moreover, Interactive Investor provides various attractive features you can use to your advantage if you’re an inexperienced trader.
Namely, one of those features is Quick-start Funds. This feature will give an alternative starting point to new investors, allowing them to access low-cost funds preselected by Interactive Investor’s experts. If you opt for this solution, you will have to choose between active and passive investing.
What’s more, this feature is ideal for selecting and investing in funds that match your attitude to potential risks or wins. Then, as you tap into the world’s markets, the Quick-start Funds will minimise the chances of losing your profit.
Other essential features worth mentioning include price alerts and ii Super 60. The ii Super 60 allows you to search through a range of funds, ETFs, and trusts, delivered to you by the Investment Selection Committee. To be specific, this feature will filter your search and find the best investment opportunities on the Interactive Investor platform.
Accounts and Services
Interactive Investor offers versatile services, allowing you to double your money and start saving for future goals. In this section of this Interactive Investor review, I’ll list some of the most attractive and prominent accounts and services you can start using today if you decide to join.
Stocks and Shares ISA
One of the main benefits of Interactive Investor is that it allows its users to open Stocks and Shares Individual Savings Accounts (ISA). Those with a Stocks and Shares ISA can choose where and how they want to spend money.
Stocks and Shares ISAs are tax-efficient and may give you better returns than traditional savings accounts. It’s also noteworthy that all your investments within an ii ISA will be protected from UK income and Capital Gains taxes.
You can create a trading account on this platform and access unique investment opportunities from 17 international markets. Furthermore, Interactive Investor fees are fixed, allowing you to accumulate more money and double your assets.
Interactive Investor gives its clients a free trade each month, and it encourages you to create a joint trading account that both you and your trading partner can access. What’s more, ii monthly fees will cover Stocks and Shares ISA and Junior ISA, making it an ideal offer for first-time traders and investors.
A Self-Invested Private Pension (SIPP) is a type of pension that gives you complete control over your personal investments. This excellent offer allows clients to shape their future and prepare for retirement with minimal effort.
Interactive Investor will keep your funds inaccessible until you turn 55 (57 from 2028) to ensure you’ll invest and save money for this exciting chapter of your life. Of course, this investment opportunity isn’t for everyone, as some may need that money for emergencies or necessary purchases. However, if you have separate funds for different needs, considering an Interactive Investor SIPP can be a unique way to secure your future.
Interactive Investor allows users to create a Junior ISA — long-term savings account for children under 18. Still, only parents can open this savings account for their children. So, if your teenager wants to open a savings account at Interactive Investor, they won’t be able to do it without getting you or your partner involved in the process.
Junior ISA is an attractive opportunity for parents who want to save money for their children’s education. On your child’s 18th birthday, Interactive Investor will convert this account into a regular ISA, allowing your child to access the funds.
Friends and Family
Friends and Family is a feature that enables you to gift five people an Interactive Investor subscription free of charge. In return, you’d have to pay a single additional fee of £5 a month, allowing other family members to eliminate all subscription costs.
Interactive Investor Charges
To join Interactive Investor, you will have to set aside a flat fee of £9.99 a month. However, account upgrades or services will incur additional charges.
Namely, Funds Fan is a package for investors who want to build a new portfolio of funds, and it costs £13.99 a month. Additionally, you can opt for the Super Investor package, but keep in mind that this premium plan is best for frequent investors.
Interactive Investor charges £19.99 a month for its premium package, which is why it would be best to determine your needs before committing to this plan. Moreover, fund and share dealing at Interactive Investor costs £10 per trade, and you’ll have to save the same amount for international or phone trades.
To create an ii SIPP account, you will have to pay an additional £10 a month. So it would be best to consider this offer if you intend to commit and contribute financially at least once a month.
But, what makes this broker an excellent choice for all investors is that it doesn’t charge any deposit or withdrawal fees. Similarly, you can invest as little as you’d like, and if you decide to take a break from investing, Interactive Investor won’t charge you any inactivity fees.
Account Setup and Withdrawals
Interactive Investor Account Setup
- Visit the official Interactive Investor website
- Click on the Choose an Account button
- Then, choose what type of account you want to open
- Next, you need to provide personal information. That includes your full name, email, phone number, employment status and tax information
- Interactive Investor will ask for your card details and National Insurance number
- Finally, once you verify your account, you can start investing or trading at Interactive Investor
Interactive Investor Withdrawals
When it comes to withdrawal options, you can withdraw money at any given moment into an account held in your name. Of course, you will have to log into your Interactive Investor account and then select cash & transfers > withdraw-transfer cash first.
Then, specify how much money you want to withdraw, but keep in mind that some accounts, such as Stocks and Shares ISA, have an annual allowance of £20,000. Additionally, you will have to wait one business day to access your money if you withdraw cash before 2 pm. On the other hand, two business days are the timescale for withdrawals after 2 pm.
How to Close Your Interactive Investor Account?
If you aren’t satisfied with Interactive Investor’s services, you can, of course, close your account. But, before you do that, you must have zero balance, meaning you’ll have to withdraw all funds to become eligible to cancel your subscription. However, Interactive Investor also won’t charge you the monthly fee if you have zero balance, so you can take a break from trading whenever you’d like without getting into debt.
But, if you’re determined to close your Interactive Investor account, you can select the Close Account button and submit a closure request. After submitting such a request, you will have access to your account for the next six weeks.
You can access Interactive Investor via mobile as well. The app is helpful to anyone who wants to trade on the go, meaning you can manage and access your investment or trading accounts wherever you are. The ii app uses the same quote service and encryption as the official Interactive Investor website, allowing you to stay up-to-date and secure at all times.
As an Interactive Investor client, you can use its mobile app to add money to your account and place trades. On top of that, the app allows access to over 400,000 shares, trusts, funds, and ETFs.
The Interactive Investor app also comes with a regularly-updated feed where you can read the latest news, view market performance, and create watchlists that allow you to keep track of shares or funds. But, even if you aren’t an Interactive Investor client, you can download the app and use it to read news and analysis.
Interactive Investor will ask you to set up face recognition or fingerprint scanning features when you log into the app. As your data is encrypted and secure, you can also use the app to add or withdraw funds from your account.
Interactive Investor uses the latest encryption technology on all trading services to keep your information safe from prying eyes and third parties. This company supports the industry-standard 128-bit SSL encryption, but your browser must support this SSL if you want to keep your account secure.
Moreover, Interactive Investor undergoes an annual independent security audit for Cyber Essential Plus. This certificate shows that Interactive Investor can maintain a high level of security on its website.
Interactive Investor will treat your assets as “client’s money”. The FCA defined this rule, giving your investments a trust status. In other words, if Interactive Investor goes bankrupt, your investments will be protected from its creditors.
Likewise, Interactive Investor holds your assets only in banks covered by the FSCS deposit protection scheme. That means you can make a compensation claim if one of those institutions fail to meet its financial obligations to creditors and depositors.
Overall, Interactive Investor does everything in its power to keep your funds safe. This company is an excellent service provider that implements high-standard security measures for your safety and benefit. So if you decide to start using Interactive Investor, you can be sure that all your funds and assets will be safe and protected from unexpected circumstances.
How Does Interactive Investor Compare?
Interactive Investor is one of the leading stockbrokers in the UK. Still, it’s essential to understand how this company compares to other service providers. So, the next step in this Interactive Investor review would be to compare this broker to its competitors and help you determine which one is the best choice for you.
Interactive Investor vs eToro
For example, eToro is another prominent broker that offers its services to UK citizens. Although the eToro trading platform comes with many valuable tools and features, it’s essential to mention that this broker carries out all trades in USD. Although this isn’t necessarily an issue, Britons will have to pay the currency conversion fees due to this policy.
Still, one of the main reasons Interactive Investor is better than eToro is that it offers more share dealing services and features, such as charting and investment analysis. Moreover, eToro clients can’t invest in funds, bonds, and investment trusts. That gives me no other choice but to pick Interactive Investor over eToro.
Interactive Investor vs Vanguard
Vanguard is also secure trading and investment platform with over 20 million clients worldwide. Furthermore, its cost-effective offers and excellent policy and security features have helped Vanguard build a loyal customer base.
Although Vanguard is an outstanding service provider, I have to address that this broker bases its fees on a percentage of the amount you hold in your account. In other words, the more you make, the more you’ll spend on fees, which is why it’s advisable to choose Interactive Investor over Vanguard.
All Interactive Investor customers can contact ii customer support via chat, phone, or email. However, those who don’t have an account can’t access live chat and talk to a customer support agent. Although this is unfortunate for those who don’t have an account, Interactive Investor offers a Help Centre and New Customer Hub. You can find answers to most of your questions about opening an account or using Interactive Investor services on these portals.
What matters is that you will get the necessary support from ii customer service agents once you create an account. So, if you need any help or additional explanation, someone will always be there to assist you.
If you look at Interactive Investor reviews, you’ll see that almost every customer has something nice to say about its customer support, thanks to its patient and supportive customer service agents. Namely, Interactive Investor has an excellent rating of 4.7 stars on Trustpilot. It currently has nearly 19,000 reviews, out of which 80% have given the platform five stars.
Moreover, only 9% of the reviewers think the platform is below average, some of which believe it lacks essential tools such as a tax calculator. Therefore, hoping to meet customer demands, the support team regularly passes these kinds of suggestions to departments in charge of Interactive Investor features.
Aside from offering a range of services, there’s more to Interactive Investor than meets the eye. Not only does Interactive Investor have low fees, but it can also help you expand your knowledge and make calculated investment and trading decisions.
Interactive Investor is a trustworthy broker that has helped many clients reach their investment goals. So, hopefully, this Interactive Investor review has helped you realise this company’s potential and why it is worth trying if you want to start your investment journey.
Interestingly enough, Interactive Investor keeps your money in banks covered by the FSCS deposit protection scheme. As a result, Interactive Investor allows you to file a compensation claim if the banks become insolvent by keeping your assets in these institutions.
Yes, indeed! Interactive Investor is regulated by the FCA, meaning your assets will be safe from Interactive Investor’s creditors.
You can find over 40,000 UK and global stocks on Interactive Investor. Additionally, this broker will give you tools and analysis to help you find an investment opportunity that meets your needs.
Yes, Interactive Investor is an excellent platform for beginners. It offers versatile learning materials that will introduce you to trading and investing, along with a Help Centre and Customer Hub. Moreover, the Interactive Investor app is user-friendly and straightforward, allowing anyone to start investing in their future.