Platform comparison · Updated October 2026
Best ETF Platforms in the UK (2026)
The ETF you buy is usually identical wherever you buy it. What changes is the platform fee, and over decades that difference can run into thousands of pounds. We compared ten UK platforms on real yearly costs, accounts, features and safety, so you can choose with confidence.
- Platforms compared
- 10 all FCA-regulated
- Cheapest fee
- £0 InvestEngine, Trading 212
- AJ Bell cap
- £42 a year, shares/ETFs
- FSCS cover
- £85,000 per person, per firm
Quick answer
The best ETF platforms in the UK for 2026
For most beginners, a free platform is the best place to start, because platform fees compound against you every year. InvestEngine and Trading 212 charge nothing to hold or trade ETFs. Once your portfolio grows, AJ Bell’s capped fee keeps costs low on a traditional platform. Meanwhile, Interactive Brokers suits large, global portfolios.
At a glance
UK ETF platforms compared
| Platform | Platform fee | ETF dealing | Min. to start | Accounts |
|---|---|---|---|---|
| InvestEngine | £0 (DIY) | £0 | £100 | ISA, SIPP, GIA |
| Trading 212 | £0 | £0 (0.15% FX) | £1 | ISA, SIPP, GIA |
| Vanguard Investor | 0.15%, min £48, cap £375 | £0 | £500 or £100/m | ISA, SIPP, JISA, GIA |
| AJ Bell | 0.25%, cap £42 | £5 (regular free) | £25/m regular | ISA, SIPP, LISA, JISA |
| Interactive Brokers | £0 | £3 (UK) | None stated | ISA, GIA, SIPP via partners |
| Hargreaves Lansdown | 0.35%, cap £150 | £6.95 | £25/m regular | ISA, SIPP, LISA, JISA |
| Fidelity | 0.35%, cap £90 | £7.50 (£1.50 regular) | £25/m regular | ISA, SIPP, JISA |
| Interactive Investor | £5.99/month | £3.99 (regular free) | None | ISA, SIPP, JISA |
| Freetrade | £0–£9.99/month | £0 | £2 | ISA, SIPP, GIA |
| eToro | £0 | £0 (FX applies) | Low | ISA, GIA |
Fees for ETFs and shares from provider charges pages and independent fee tables, checked September–October 2026. ETF ongoing charges are extra on every platform.
Methodology
How we chose the best ETF platforms
We compared ten FCA-regulated platforms that UK retail investors can use to buy ETFs. Because the ETFs themselves are usually identical wherever you buy them, we focused on what changes between platforms.
- Total yearly cost for a monthly ETF investor at £10,000, £50,000 and £250,000 (40% weighting).
- Accounts offered: ISA, SIPP, Junior ISA and Lifetime ISA (20%).
- ETF range and features: number of ETFs, fractional investing and automatic investing (20%).
- Ease of use for beginners (10%).
- Safety: FCA authorisation, FSCS cover and financial strength (10%).
All fees come from each provider’s published charges, cross-checked against independent fee tables dated September and October 2026. We do not accept payment for rankings, and we have not opened accounts to test them. So please check current charges before you sign up.
Platform reviews
The best ETF platforms reviewed
Below, each platform has a short review covering its costs, accounts and who it suits best.
InvestEngine: best for low-cost ETF portfolios
InvestEngine is an ETF-only platform. Its DIY service charges no platform fee, no dealing fee and no exit fee, and that applies to the ISA, the general account and, since December 2024, the SIPP too. As a result, your only ongoing cost is the ETF’s own charge.
In addition, InvestEngine buys fractions of ETFs automatically. You can start with £100 and then add a monthly Savings Plan from £50. For example, a £300 monthly plan split across a global ETF and a bond ETF gets invested to the penny. However, it pays no interest on uninvested cash, which is partly how it funds the free service.
- No platform or dealing fees on DIY portfolios
- Over 830 ETFs from the main providers
- Free SIPP with no account charge
- Automatic fractional investing
- ETFs only: no shares, funds or investment trusts
- No Junior ISA or Lifetime ISA
- No interest on uninvested cash
Trading 212: best free all-rounder
Trading 212 offers free dealing on thousands of UK, US and European shares and ETFs. On top of that, it has a flexible stocks and shares ISA, a cash ISA and, since 2026, a SIPP with no account, custody or transfer fees. With more than five million funded accounts, it is one of the UK’s largest investment apps.
Its Pies feature lets you build a weighted portfolio and invest into it automatically. So it suits monthly savers well. However, a 0.15% currency fee applies each way on non-sterling trades, and the SIPP only accepts personal contributions for now. Read our full Trading 212 review.
- No account or dealing fees
- Pies make automatic investing easy
- Interest paid daily on uninvested cash
- Shares and ETFs in one app
- 0.15% FX fee on non-sterling trades
- No Junior ISA or Lifetime ISA
- Chat-only customer support
Vanguard Investor: best for Vanguard funds
Vanguard’s own platform is the simplest way to buy Vanguard funds and ETFs, including the popular LifeStrategy range and the FTSE All-World ETF. It charges 0.15% a year, capped at £375. However, accounts under £32,000 pay a minimum of £4 a month, so smaller investors effectively pay £48 a year.
Dealing in Vanguard funds is free, and you can start with £500 or £100 a month. On the other hand, you can only buy Vanguard products, so it suits investors who are happy to stay within one fund range. Uninvested cash earns 1.85%.
- Very simple, beginner-friendly app
- Free dealing in Vanguard funds
- Fee capped at £375 for large pots
- Junior ISA available
- Only Vanguard products
- £48 minimum fee hurts small pots
- £7.50 for real-time ETF deals
AJ Bell: best capped fee on a full-service platform
AJ Bell charges 0.25% a year on shares and ETFs, but caps this at £3.50 a month. Therefore, once your ETFs pass about £16,800, your platform fee stops growing at £42 a year, however large your portfolio becomes. Regular investing is free, while one-off online trades cost £5, falling to £3.50 for frequent traders.
It also offers almost every account type, including a Lifetime ISA and a Junior ISA, plus research, phone support and a huge investment range. In short, it suits investors who want a traditional platform without paying an uncapped percentage.
- Low £42 cap on shares and ETFs
- Free regular investing
- Full range of accounts, including LISA
- Phone support and research
- £5 per one-off trade adds up
- Fund holdings have a separate, higher fee
- Busier app than the new-style platforms
Interactive Brokers: best for large or frequent investors
Interactive Brokers charges no platform or custody fee. Instead, you pay a small commission on each trade, for example £3 for UK shares and ETFs on its fixed plan. Its currency conversion costs only about 0.03%, which is among the lowest available to UK investors.
However, the platform is built for experienced investors and can feel complex at first. In addition, ISA accounts must generate £3 a month in commission, or you pay the difference. So it suits larger portfolios and confident investors more than complete beginners.
- Very low FX costs for global investing
- No custody fee on any account
- Huge range of global ETFs and markets
- Strong for large portfolios
- Complex platform for beginners
- £3 monthly minimum activity on ISAs
- SIPP only through third parties
Hargreaves Lansdown: best for service and research
Hargreaves Lansdown is the UK’s best-known platform, with strong research, a well-rated app and phone support. In early 2026 it cut its share dealing fee to £6.95 and its percentage fee to 0.35%. However, it also raised the cap on shares and ETFs from £45 to £150 a year.
As a result, HL is now noticeably more expensive than AJ Bell for ETF investors with mid-sized portfolios. Still, regular investing in selected ETFs is free, and many investors value its service highly.
- Excellent research and customer service
- Free regular investing in selected ETFs
- Every main account type
- £150 yearly cap is high for ETF investors
- £6.95 one-off trades
- Higher overall cost than most rivals
Fidelity: best for mixing funds and ETFs
Fidelity charges 0.35% on exchange-traded investments, capped at £7.50 a month. However, accounts under £25,000 without a regular savings plan pay a flat £7.50 a month. Therefore, small investors should always set up a monthly plan here.
One-off ETF trades cost £7.50, while regular investing deals cost £1.50 each. So a single monthly ETF purchase adds £18 a year.
- Strong fund range alongside ETFs
- Fee capped at £90 for shares and ETFs
- Good guidance tools
- £90 a year for small pots without a regular plan
- Regular deals are not free
- £7.50 one-off trades
Interactive Investor: best flat fee for large portfolios
Interactive Investor charges a flat monthly subscription instead of a percentage. Its Core plan costs £5.99 a month for portfolios up to £100,000, and regular investing is free. As a result, the yearly cost stays the same whether you hold £30,000 or £100,000.
However, that flat fee makes it expensive for small pots: £72 a year is 0.72% of a £10,000 portfolio. Larger portfolios move to the Plus plan at £14.99 a month.
- Predictable flat fee
- Free regular investing
- Wide investment range
- Expensive for small portfolios
- £3.99 per one-off trade
- Larger pots need a pricier plan
Freetrade: best for a simple share-and-ETF app
Freetrade offers commission-free dealing with a basic free plan and paid plans at £4.99 and £9.99 a month. In practice, ISA and SIPP investors usually need a paid plan. Its currency fees are higher than Trading 212’s, ranging from 0.39% to 0.99% depending on your plan.
- Clean, simple app
- Free dealing on all plans
- Interest on cash on paid plans
- Subscription needed for most ISA investors
- Higher FX fees
- Smaller ETF range than larger platforms
eToro: best for social investing
eToro lets you buy real ETFs with no commission. It also offers a stocks and shares ISA run with Moneyfarm. However, it charges currency fees on non-sterling assets, and the app pushes CFDs, where 51% of retail accounts lose money. So make sure you buy the real ETF with no leverage.
- Commission-free ETFs
- Social features and CopyTrader
- ISA available
- FX fees on non-sterling assets
- CFDs sit next to real investments
- No SIPP
Cost scenarios
What each platform really costs per year
Fees that look tiny as percentages can add up to hundreds of pounds. To show this, we modelled an investor who adds money monthly to one ETF in a stocks and shares ISA and never makes one-off trades.
| Platform | £10,000 | £50,000 | £250,000 |
|---|---|---|---|
| InvestEngine (DIY) | £0 | £0 | £0 |
| Trading 212 | £0 | £0 | £0 |
| Interactive Brokers | £36 | £36 | £36 |
| AJ Bell | £25 | £42 | £42 |
| Freetrade (Standard) | £60 | £60 | £60 |
| Interactive Investor | £72 | £72 | £180 |
| Vanguard Investor | £48 | £75 | £375 |
| Fidelity | £53 | £108 | £108 |
| Hargreaves Lansdown | £35 | £150 | £150 |
Our calculation from published fees, October 2026. Includes platform fees and regular-investing deal charges (IBKR £3 and Fidelity £1.50 per monthly purchase). Excludes ETF ongoing charges and FX costs.
Yearly platform cost on a £50,000 portfolio
The difference matters over time. For example, £150 a year invested instead at 5% growth would be worth about £5,000 after 20 years. In short, choosing a low-cost platform is one of the few investing decisions with a guaranteed payoff. Try our cost calculator with your own numbers.
Fee structures
Percentage fees, caps and flat fees explained
UK platforms use three main charging models. Understanding them helps you pick the cheapest option for your portfolio size.
- Free: no platform fee at all. The platform earns from FX fees, interest on cash or premium plans instead.
- Percentage with a cap: you pay a percentage until your fee hits a ceiling. AJ Bell reaches its £42 cap at about £16,800, Fidelity reaches £90 at about £25,700, and HL reaches £150 at about £42,900.
- Flat fee: a fixed monthly subscription, such as Interactive Investor’s £5.99. It is expensive for small pots but cheap for large ones.
Vanguard is a hybrid. Below £32,000 you pay £48 a year, then 0.15% until the fee reaches £375 at £250,000.
ETF basics
What UK investors should know about ETFs
An exchange-traded fund (ETF) is a fund that trades on a stock exchange like a share. Most ETFs track an index, such as the FTSE 100 or the S&P 500, so one purchase spreads your money across many companies.
UCITS ETFs
Most ETFs sold to UK investors are UCITS funds, usually based in Ireland or Luxembourg. They follow strict European rules on diversification and safekeeping. As a result, they are the standard choice for UK ISAs and SIPPs.
Accumulating vs distributing
Accumulating ETFs reinvest dividends automatically, while distributing ETFs pay them out as cash. For example, VWRP and VWRL hold the same shares but treat dividends differently.
Physical vs synthetic
Physical ETFs own the underlying shares. By contrast, synthetic ETFs use a swap agreement with a bank to deliver the index return. Both are common, but beginners usually prefer physical ETFs because they are easier to understand.
Ongoing charges
Every ETF has an ongoing charge, taken from the fund’s value. Broad index ETFs now cost as little as 0.05% to 0.25% a year. See our best ETFs guide for popular low-cost choices.
Tax wrappers
Which account should you use?
| Account | Yearly limit | Tax benefit | Access |
|---|---|---|---|
| Stocks and shares ISA | £20,000 | No tax on gains or income | Any time |
| SIPP (personal pension) | Up to 100% of earnings, £60,000 cap | Tax relief of 20%–45% on contributions | From age 57 (from 2028) |
| Lifetime ISA | £4,000 (within ISA limit) | 25% government bonus | First home or age 60 |
| Junior ISA | £9,000 | Tax-free for children | At age 18 |
| General account | No limit | None: CGT and dividend tax apply | Any time |
For most people, an ISA is the best first account. However, a SIPP can be better for long-term retirement saving, especially for higher-rate taxpayers. Outside these wrappers, gains above £3,000 a year face Capital Gains Tax, and dividends above £500 face dividend tax.
How to choose
How to choose the right ETF platform
- Estimate your portfolio size. Free platforms win at every size; among paid platforms, capped and flat fees suit larger pots.
- Decide how you will invest. Monthly investors should look for free regular investing and fractional ETFs.
- Check the accounts you need. For example, an ISA now and a SIPP or Junior ISA later.
- Check the ETF range. Make sure your chosen ETFs, such as VWRP, are available.
- Look beyond fees. Consider the app, customer support and whether phone help matters to you.
- Confirm FCA regulation. Then search the FCA register for the firm’s exact name before you deposit.
Getting started
How to buy your first ETF
- Open an account. Choose an ISA and verify your identity online, which usually takes a few minutes.
- Add money. Bank transfer is usually free; some platforms charge for card deposits.
- Search for your ETF. Use the ticker (for example VWRP) and check the ISIN to confirm you have the right fund.
- Place an order. Choose an amount in pounds; during market hours, spreads are usually tighter.
- Automate it. Set up a monthly plan, so you invest steadily without trying to time the market.
Switching
How to move to a cheaper platform
If you already invest, switching can cut your costs. Ask your new provider to arrange an ISA or SIPP transfer, rather than withdrawing money yourself. Otherwise, you could lose the tax-free status.
- In-specie transfer: your ETFs move across without being sold, so you stay invested.
- Cash transfer: your holdings are sold first, which leaves you out of the market for a few days.
- Timing: transfers usually take two to six weeks.
- Costs: most large platforms no longer charge exit fees, and some new providers pay them for you.
Safety
How safe are ETF platforms?
UK investment platforms must be authorised by the Financial Conduct Authority. Under its client asset rules, they must hold your investments separately from the company’s own money, usually through a nominee company. So if a platform goes bust, your ETFs should be returned to you or moved to another provider.
If assets are missing after a platform failure, for example because of fraud or poor record-keeping, the Financial Services Compensation Scheme can pay up to £85,000 per person per firm. Cash held with a bank is covered separately, up to £120,000. However, neither scheme protects you from falls in the value of your investments.
Avoid these
Common mistakes when choosing a platform
- Ignoring the cap: an uncapped 0.35% fee costs £350 a year on £100,000.
- Forgetting currency fees: buying US-listed assets adds an FX charge every time.
- Chasing sign-up bonuses: a free share is worth far less than years of lower fees.
- Buying CFDs by mistake: on some apps, check you are buying the real ETF with no leverage.
- Withdrawing to switch: always transfer an ISA, otherwise you lose its tax-free status.
- Over-trading: even free platforms have spreads, so frequent trading still costs money.
Glossary
Key terms explained
- Platform fee
- A yearly charge for holding your investments.
- Ongoing charge (OCF)
- The ETF’s own yearly cost, taken from the fund.
- Spread
- The gap between the buying and selling price.
- FX fee
- A charge for converting pounds into another currency.
- Fractional ETFs
- Buying part of one ETF share, so small amounts can be invested.
- In-specie transfer
- Moving investments between platforms without selling them.
FAQ
Best ETF platform UK: FAQs
Choosing a platform
What is the cheapest ETF platform in the UK?
For most people, InvestEngine and Trading 212 are the cheapest, because neither charges an account fee or dealing commission on ETFs. You still pay each ETF's own yearly charge, and Trading 212 adds 0.15% on non-sterling trades.
Which ETF platform is best for beginners?
Beginners usually do best with a simple app that offers an ISA, fractional ETFs and automatic monthly investing. InvestEngine and Trading 212 fit that description, while Vanguard Investor suits those happy with Vanguard funds only.
How much do I need to start investing in ETFs?
Very little. Trading 212 lets you buy fractions of ETFs from £1, InvestEngine needs £100 to start, and Vanguard Investor needs £500 or £100 a month.
Is a percentage or a flat platform fee better?
A percentage fee is usually cheaper for small pots. Once your portfolio passes roughly £20,000 to £30,000, a capped or flat fee often works out cheaper.
Can I hold ETFs in an ISA or SIPP?
Yes. UK-listed ETFs can go in a stocks and shares ISA, where gains and income are tax-free, or in a SIPP, where contributions also get tax relief. The ISA allowance is £20,000 for 2026/27.
Costs, tax and safety
Why can't I buy US ETFs like VOO in the UK?
Most US-domiciled ETFs do not publish the key information document UK rules require, so platforms block them for retail investors. Instead, you can buy UCITS versions listed in London, such as VUAG for the S&P 500.
Are ETF platforms safe?
FCA-regulated platforms must keep client assets separate from their own money. If a platform fails and assets are missing, the FSCS can cover up to £85,000 per person per firm.
Do I pay stamp duty on ETFs?
No. Buying ETFs on the London Stock Exchange does not attract the 0.5% stamp duty that applies to most individual UK shares.
Can I move my ISA to a cheaper platform?
Yes. Ask the new provider to transfer it rather than withdrawing cash yourself, so the money keeps its tax-free status. Most large platforms no longer charge exit fees, but check first.
What else do I pay besides platform fees?
You also pay each ETF's ongoing charge, the bid-offer spread when you trade, and a currency fee if you buy anything not priced in pounds.
Keep reading
Related guides
Sources
Sources
- UK Tax Drag – UK ETF platform comparison 2026/27 (checked 26 September 2026)
- Forbes Advisor UK – Best ETF platforms (23 October 2026)
- Money to the Masses – InvestEngine review (February 2026)
- Money to the Masses – Vanguard Investor review (September 2026)
- Campaign for a Million – Trading 212 review (September 2026)
- Campaign for a Million – Interactive Brokers UK review (September 2026)
- Which? – Hargreaves Lansdown fee changes (January 2026)
- FSCS – Investment protection
- GOV.UK – Individual Savings Accounts
This guide is general information, not personal financial advice. Some links may be affiliate links, which never affect our content. vwrp.co.uk is independent and not affiliated with Vanguard or any provider mentioned. Capital is at risk; past performance is not a reliable guide to future returns.