Interactive investor cost increase

lionel_hutz

I’ve noticed Interactive Investor are increasing their charges from 1st June to 3 different packages with the cheapest now bring £9.99 per month (including one free trade into £7.99). So £120 per year instead of £100 per year.
What are other investors thinking of this in terms of value?
Would you rather use iWeb even though the site is more basic or is Interactive Investor worth stumping up the extra money for someone who isn’t going to trade much (if at all). I’m just going to invest monthly into the same fund.

Alexland

Have a look at this thread on the subject from last month:
https://forums.moneysavingexpert.com/discussion/5988338/interactive-investor-to-roll-out-netflix-pricing

If you are investing monthly into a fund via a S&S ISA and have a big enough account valuation that a percentage based platform would be expensive then consider Halifax Share Dealing at £12.50pa then £2 per regular trade which would be cheaper than iWeb. Same platform different pricing structure. Check they have the fund you want before transfering.

Alex

Albermarle

It depends not just on how much you trade, but also on:
1) the size of the amount invested on the site - for small/medium amounts it can be better on a platform charging a % rate ( so neither II or Iweb)
2) % charge platforms are often free to trade funds
3) Whether it is an ISA; a SIPP or a SIPP in drawdown. Some platforms charge extra for a SIPP and extra again for withdrawals. Some do not .

Each platform's charging structure seems to work better for different circumstances.

lionel_hutz

Albermarle wrote: »

It depends not just on how much you trade, but also on:
1) the size of the amount invested on the site - for small/medium amounts it can be better on a platform charging a % rate ( so neither II or Iweb)
2) % charge platforms are often free to trade funds
3) Whether it is an ISA; a SIPP or a SIPP in drawdown. Some platforms charge extra for a SIPP and extra again for withdrawals. Some do not .

Each platform's charging structure seems to work better for different circumstances.

I’m transferring 20K from an ISA into 2 funds then investing a further £500 per month extra into one of the funds.

lionel_hutz

Alexland wrote: »

Have a look at this thread on the subject from last month:
https://forums.moneysavingexpert.com/discussion/5988338/interactive-investor-to-roll-out-netflix-pricing

If you are investing monthly into a fund via a S&S ISA and have a big enough account valuation that a percentage based platform would be expensive then consider Halifax Share Dealing at £12.50pa then £2 per regular trade which would be cheaper than iWeb. Same platform different pricing structure. Check they have the fund you want before transfering.

Alex

If I was investing into the same fund each month then it would cost £2 per month?

Alexland

Yes just £2 per scheduled trade but they are £12.50 for an ad-hoc trade. Plus the £12.50 pa ISA account fee so £36.50 pa compared to iWeb at £60 pa. iWeb is better for ad-hoc traders.

lionel_hutz

Alexland wrote: »

Yes just £2 per scheduled trade but they are £12.50 for an ad-hoc trade. Plus the £12.50 pa ISA account fee so £36.50 pa compared to iWeb at £60 pa. iWeb is better for ad-hoc traders.

Looks the best value for me. Had a quick look at the website and seems to have everything I’ve seen on II and iWeb.
I like the app and the style of the II website but not worth paying £120 a year for.
Thanks for that advice, surprised it wasn’t on the MSE investing section (unless I missed it?)

Albermarle

Suggest you put your details into the following platform comparison site .
http://www.comparefundplatforms.com/