The UK investment-app market consolidated around four serious players by 2026. Each has a clear sweet spot — Trading 212 for the all-rounder, InvestEngine for low-cost ETF portfolios, Vanguard UK for big buy-and-hold accounts, and Freetrade for the stock-picker who wants UK + US in one place. This guide picks by what you're actually investing for, with real fees and the regulatory points that matter.
What changed in 2026
- Hargreaves Lansdown and AJ Bell lost share to lower-cost newer platforms; both responded by cutting fees, but slowly.
- Trading 212 added a SIPP (alongside its ISA and GIA), making it the most-complete free platform in the UK.
- InvestEngine launched a SIPP with the same £375 cap as Vanguard on managed plans.
The picks
Trading 212. Most-complete free platform. Stocks & Shares ISA, GIA, and now SIPP all with no platform fee. Fractional shares from £1. Interest on uninvested cash (5%+ for ISA in 2026). Auto-invest pies. Best all-rounder.
Freetrade. UK-first design, clean app, monthly fee model (£0 basic, £4.99 Standard for ISA, £11.99 Plus for SIPP). Larger US stock universe than Trading 212 in some categories. Best if you prefer subscription pricing or want their specific features.
InvestEngine. ETF-only platform. DIY portfolios at 0% platform fee; managed portfolios at 0.25% — the cheapest managed option in the UK. Stocks & Shares ISA, GIA, and SIPP. Best for ETF-focused investors who want professional or DIY portfolios cheap.
Vanguard UK. Original low-cost ISA / SIPP platform. 0.15% platform fee, capped at £375/year. Once your portfolio exceeds £250k, the cap makes it the cheapest serious platform in the UK by a wide margin. Best for buy-and-hold investors with substantial portfolios.
Comparison
| Platform |
ISA fee |
SIPP fee |
Best for |
| Trading 212 |
£0 |
£0 |
Free all-rounder, ISA + SIPP + GIA |
| Freetrade |
£4.99/mo |
£11.99/mo (Plus) |
Subscription model, UK + US |
| InvestEngine |
0% DIY / 0.25% managed |
Same |
ETF portfolios, managed cheap |
| Vanguard UK |
0.15% (cap £375) |
Same |
Large buy-and-hold portfolios |
How to pick
- First-time investor under £20k → Trading 212 ISA.
- Want a managed ETF portfolio cheaply → InvestEngine managed.
- Want DIY ETF portfolio cheaply with great UX → InvestEngine DIY or Trading 212.
- Substantial portfolio (£100k+) → Vanguard UK (fee cap) or Trading 212 (zero fee).
- SIPP for self-employed → Trading 212 SIPP, Vanguard UK SIPP, or InvestEngine SIPP — pick by feature preference.
- Want to stock-pick UK + US → Freetrade or Trading 212.
The ISA / SIPP framework
Quick reminder for UK readers:
- Stocks & Shares ISA. £20,000 annual contribution cap. Tax-free growth, tax-free withdrawals.
- SIPP. Up to £60,000 annual contribution (or 100% of earnings if less). Tax relief on contributions; tax on withdrawal (with 25% tax-free lump sum).
- Lifetime ISA (LISA). £4,000/year (counts toward £20k overall ISA limit). 25% government bonus. Restricted use (first home or age 60+).
- GIA (General Investment Account). No tax wrapper, no limits, useful for above-ISA/SIPP investing.
Prioritize: ISA → SIPP for retirement → GIA for everything else.
What to check before opening
- FCA regulation. Every app above is FCA-regulated. Some "high-yield" apps and CFD brokers aren't — check FCA register.
- FSCS protection. £85,000 per institution. Spread big balances across providers.
- Transfer-in friction. Most platforms accept ISA/SIPP transfers in. Plan one transfer per year max for efficiency.
- Fractional shares. Important for diversification on small balances. Trading 212 and Freetrade both support.
What to skip
- Platforms pushing CFDs alongside stocks. Different product class with very different risk; regulator data shows 80%+ of retail traders lose money on CFDs.
- "AI trading" apps promising automated returns. Mostly marketing.
- Crypto-only apps for serious investing — different regulatory regime, different risk.
- High-cost robo-advisors (Nutmeg, Moneyfarm) when InvestEngine and Vanguard offer cheaper managed alternatives.
FAQ
Are these all really free?
Trading 212 and InvestEngine have no platform fees. They make money from FX conversion fees, securities lending, and (for some) lower interest paid on cash balances. Read the fine print.
Can I have ISAs at multiple platforms?
Yes — but you can only pay into one Stocks & Shares ISA per tax year. You can hold ISAs at multiple platforms from prior years.
ISA vs SIPP — which first?
ISA first for flexibility (access at any age). SIPP first if you're a higher-rate taxpayer wanting maximum tax relief.
Are US stocks tax-friendly via these platforms?
You'll want a W-8BEN form to reduce US withholding tax on dividends from 30% to 15%. All UK platforms handle this.
Where to go next
For related material see ISA vs SIPP UK in 2026, Lifetime ISA guide in 2026, and Capital gains tax UK in 2026.