As the UK government makes a push to get more people investing, Which? research has looked at how a range of investment platforms are scoring on customer satisfaction and fees.

The consumer group said that keeping platform fees to a minimum will be a priority in the coming tax year, as increasing tax rates on dividends have the potential to chip away at returns.

“Though fee-free platforms won’t be the right option for every investor, the rise of these low to no fee options should make every investor question the fees they are paying,” Which? said.

For example, it pointed out that for a larger investment pot of £500,000 (excluding exchange-traded funds (ETFs)), fees could range from £2,262 a year at the top end (0.45%) down to fee-free. Meanwhile, an investor with a £5,000 pot could pay as much as £112 (2.2%) a year in fees, or nothing at all with a zero-fee platform.

For its research, Which? surveyed more that 3,000 UK investors about their experiences using 23 of the largest investment platforms, to get a customer score. Separately, it also carried out an analysis of platform fees and on the range of investments available to users. Which? then combined the three elements to get an overall score.

Three platforms earned Which? Recommended Provider (WRP) status in this year’s rankings – AJ Bell (AJB.L), InvestEngine and Scottish Widows (formerly iWeb). To be eligible for this badge, Which? said that platforms must get an overall score of 70% but also not offer contracts for difference (CFDs), or investments which the consumer group said it “considers to be detrimental to investors”.

For that reason, while Trading 212 got the highest overall score of 83%, Which? said it was unable to be considered as an WRP.

AJ Bell got the second-highest overall score of 77%, getting the highest customer score of any platform of 81%, and was named an WRP for the eighth year in a row.

Which? said that customers in its survey praised the wealth of information provided by AJ Bell and the platform’s ease of use. It also has a choice of more than 24,000 investments and got a score of 62% for fees.

InvestEngine came in third place, with an overall score of 76% and secured WRP status for the third time.

It was also named as a Great Value provider for a second year, which applies to platforms that sit in the top 25% cheapest platforms and be in the top three statistical bands by customer score. InvestEngine zero platform and trading fees, with it securing a 100% score for fees, and a 76% customer score.