InvestEngine

Millyonare

Hi everyone.

Longtime lurker. First-time poster. Fantastic forum.

Does anyone here use InvestEngine?

How have you found them, for small, medium or big investments on their DIY ETF or Managed platform? Easy, fast, slow, good, bad, reliable, trusty, safe? Better or worse than (say) Vanguard? Any other feedback?

Have some money to invest in ETFs, and they look very competitive on price. But IE are obviously fairly new to the industry.

Had a look thru the forum search-engine here, but didn't find many posts on the company.

Browntoa

https://www.fool.co.uk/personal-finance/share-dealing/reviews/investengine/

Albermarle

The search engine is rather poor, as they have been mentioned several times.

If I remember correctly they are a bit slow in processing buy and sell orders, but then again they don't charge to do it, so.....

As they are new, I would not put a large amount with them, as if anything did happen, then could probably  take some time before you could access the money.

Daliah

I signed up when they offered an incentive for doing so. Had to keep my moderate deposit invested for at least 6 months. I went for an adventurous portfolio, and am now waiting for it to recover to at least the amount I deposited, including the joining bonus. Obviously, they are not immune to market movements but none of my other investments dropped quite as badly as my InvestEngine one.

ChilliBob

I quite like the interface and the way it all works with rebalancing etc, great stuff.

I used it more for fun money and referral stuff tbh. 

Worth knowing you don't know the price as they batch the orders up - so unlike say II. 

Long term that probably doesn't matter though as its likely to be a tiny bit of noise and that's all

Voyager2002

Daliah said:

I signed up when they offered an incentive for doing so. Had to keep my moderate deposit invested for at least 6 months. I went for an adventurous portfolio, and am now waiting for it to recover to at least the amount I deposited, including the joining bonus. Obviously, they are not immune to market movements but none of my other investments dropped quite as badly as my InvestEngine one.

I did the same, except that my intention was to leave once I had the bonus since I prefer a investment where I am in control. I therefore chose a far more conservative portfolio, and so my losses were a good deal less than the bonus. I left when I could, and everything worked reasonably smoothly.

Daliah

Voyager2002 said:

Daliah said:

I signed up when they offered an incentive for doing so. Had to keep my moderate deposit invested for at least 6 months. I went for an adventurous portfolio, and am now waiting for it to recover to at least the amount I deposited, including the joining bonus. Obviously, they are not immune to market movements but none of my other investments dropped quite as badly as my InvestEngine one.

I did the same, except that my intention was to leave once I had the bonus since I prefer a investment where I am in control. I therefore chose a far more conservative portfolio, and so my losses were a good deal less than the bonus. I left when I could, and everything worked reasonably smoothly.

Congratulations for having chosen a smarter investment 

Let's compare notes 10 years from now  . May be, just may be, I'll be on the up then 

DjangoUnchained

i also signed up when they were offering the bonus and have drip fed  about £50 every week. sadly down about 10% but as its a long term investment i will continue to do so.

Millyonare

Thanks, everyone. Very helpful.

After much research, have decided to use iWeb. They do real-time live quotes for ETFs and funds, their £5 dealing fee is tiny on a 5- or 6-figure sum, they have recently halved their one-off account-opening admin fee to £50, and they have the perceived safety (rightly or wrongly) of Lloyds-Halifax backing.

Really like InvestEngine. Great user-interface, superb app, big choice of funds, and virtually free to use. But, as Albermarle mentions, their dealing speed for funds is slow and not real-time. This delay can prove costly -- for example, a £100k investment in an S&P500 fund last Thurs could have cost £1-4k more if the deal did not go thru until Fri, when the index spiked.

Will keep a small sum in InvestEngine, for their £25 free bonus, and monitor how things go. If they introduce real-time live quotes for funds or ETFs in the future, that will force a rethink.

Albermarle

Worth adding to the above post, that most investors are not adding £100K in one go to their investments, but are building up long term investments over a period of time . In which case short term market movement during a day or two day delay in investing, are neither here nor there.

Alexland

I recently closed my token InvestEngine GIA after investing £100 in a managed portfolio (before they offered ETF trading), getting £100 of bonuses added and losing around £2 in the markets. Overall reasonably happy with the service, nearly doubled my money in a year and split the proceeds across our children's Fidelity Junior SIPPs to compound over the next 50 years.

iWeb have been good for our main S&S ISAs and we signed up years ago at the old £25 setup fee. The accounts are very inactive so it's rare we pay the £5 trade fee but each month I cycle £500 in/out of the iWeb GIA to get the £5/month Halifax reward current account bonus.