IF you’re unsure of where to start investing, you’re in luck as the best and cheapest platforms have just been revealed.
Consumer site Which? has ranked each of the major investment platforms based on which offer the cheapest fees along with the best service for customers.
Investment platforms usually charge fees to hold, buy and manage investments, but these fees can vary dramatically between providers.
The amount you pay in fees can make a big difference to the returns you end up with.
For example, even with a modest £5,000 investment pot you could pay as much as £112 a year in fees – or nothing at all with a zero-fee platform.
Trading 212 scored the highest with a rating of 83% overall, as it doesn’t charge fees and also had an impressive customer score of 79%.
However, it didn’t secure the coveted Which? Recommended Provider status for 2026.
That’s because contracts for difference (CFDs) are included among its investment options, and Which? said these are particularly risky for consumers.
To get Recommended Provider status, the platforms had to excel in customer service, competitive fees and range of investments available, but also avoid offering investments considered especially risky.
The three platforms that did achieve Which? Recommended Provider status were AJ Bell, InvestEngine and Scottish Widows.
AJ Bell came out on top with 77% overall, while InvestEngine scored 76% and Scottish Widows had 74%.
Customers said AJ Bell was easy to use, provided clear information on how assets perform over time, had a large range of investment options, and also publishes a “favourite funds” list which is helpful for beginners.
It achieved the highest customer satisfaction score of any platform at 81%.
AJ Bell was not among the most expensive platforms but it does have a £1.50 charge to trade funds.
Investing: know the risks
INVESTING is a risky business.
It’s not a guaranteed way to make money. You cash can always go up as well as down.
Make sure you know the risks and can afford to lose the money.
Before investing you should check the Financial Conduct Authority’s register and check its list of firms to avoid.
InvestEngine was selected as another top option because of its impressive 76% customer score and its lack of platform and trading fees.
It might not suit every investor as it only trades in ETFs, which are sets of investments that you can buy and sell as a single package.
However, InvestEngine does have more than 800 ETFs to choose from and it also achieved Great Value status.
Scottish Widows achieved an overall score of 74%, with customers praising its zero account fees and easy-to-use website.
There is a £5 fee if you buy or sell an asset, but you can avoid this by setting up a regular monthly investment plan.
The platform offers a range of almost 9,000 assets to invest in.
Another three platforms – Freetrade, Vanguard and NatWest, achieved Great Value badges.
They had overall scores of 76%, 66% and 63% respectively.
At the other end of the table, Bestinvest took last place with an overall score of just 46%.
It was closely followed by Santander with a score of 50%, and Moneybox, Octopus Money Direct (formerly Virgin Money) and Fidelity tied on 52%.
Sam Richardson, deputy editor of Which? Money, said: “As the government continues its push to get more Britons investing, we’d urge people to think about not just what they’re investing in, but the platform they’re investing with.
“From customer service to investment choice to fees, investors can have wildly different experiences depending on the platform they use.
“With our Which? Recommended Providers and Great Value picks, investors can rest easy knowing that they’re getting an excellent product, at the right price.”
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