Investengine / T212

tiger135

These are the two recommended free platforms, anyone use them both and have a preference?
I mainly want to invest in global index funds eg ETF global trackers 
I also have a small desire to invest in specific companies I like the look of and who I think their products will be in demand in the future. 
Thanks!

boingy

I have an ISA with InvestEngine. They seem pretty good and they are certainly cheap but their range of ETF's is quite small so check that they have the one(s) you want. I've no experience of Trading 212.

wmb194

tiger135 said:

These are the two recommended free platforms, anyone use them both and have a preference?
I mainly want to invest in global index funds eg ETF global trackers 
I also have a small desire to invest in specific companies I like the look of and who I think their products will be in demand in the future. 
Thanks!

I use both. InvestEngine is basic but I've been making use of its regular investment feature that transfers money from your bank account via Open Banking and later that day it'll invest in an ETF(s) of your choice. It's better than other brokers and investment platforms that take your money by DD but then take days and days to invest it.

T212 is far more fully featured, offers a wide range of company shares and ETFs and is the one I'd prefer. I first tried it a few years ago and didn't like it but I tried it again recently due to an Isa cashback offer and it's much improved. Orders usually execute immediately for large companies and ETFs, take a bit longer for smaller or less well traded securities and dividends are usually credited on their due dates. Its foreign FX fees are very competitive - just 0.15%.

T212 is also a profitable business - it appears to make most of its money from people losing their money to it on CFDs - whilst, last I checked, InvestEngine isn't and is still in a start-up phase so you're less likely to have any drama around losing access to your investments in the event of InvestEngine failing.

If you Google around you should be able to find people offering T212 account opening referral links to net you a free share. (Referrals aren't allowed here.)

Another option is Freetrade which is also good and it's more reliable than T212 for instant execution if that matters to you but unlike T212 it doesn't presently offer fractional shares on London listed securities, only US IIRC.

Eyeful

I have no knowledge of either firm. Just a word of caution.

Make sure whichever firm you use, check the FCA register to make sure that the firm is a regulated one and not a "clone of the firm".

Example: Trading 212
https://register.fca.org.uk/s/firm?id=001b000000NMi1QAAT
There have been clones of Trading 212.
Some activities of the real company may not be protected (so check it out before investing).

Futuristic

InvestEngine is relatively new and mostly has index funds, t212 seem to be doing really well and good for active traders with more options for international stocks etc. 

mattywallace121

Freetrade is a valid option to explore too.

friolento

Have a look at Wealthify, CMC and &me, too.

The one I wouldn't use is Nutmeg.

wmb194

friolento said:

Have a look at Wealthify, CMC and &me, too.

The one I wouldn't use is Nutmeg.

&me is a rebranded version of Wealthify but it's definitely worth looking out for a Cashback offer for it - TopCashback has one.

Edit: Not Wealthify but Moneyfarm.

friolento

wmb194 said:

friolento said:

Have a look at Wealthify, CMC and &me, too.

The one I wouldn't use is Nutmeg.

&me is a rebranded version of Wealthify but it's definitely worth looking out for a Cashback offer for it - TopCashback has one.

I have both apps, both because MSE had signup offers for them. MSE still have a signup offer for Wealthify https://www.moneysavingexpert.com/savings/robo-funds/

I thought Wealthify is Aviva, whilst &me is M&G Wealth. Is there a connection between these two?

wmb194

friolento said:

wmb194 said:

friolento said:

Have a look at Wealthify, CMC and &me, too.

The one I wouldn't use is Nutmeg.

&me is a rebranded version of Wealthify but it's definitely worth looking out for a Cashback offer for it - TopCashback has one.

I have both apps, both because MSE had signup offers for them. MSE still have a signup offer for Wealthify https://www.moneysavingexpert.com/savings/robo-funds/

I thought Wealthify is Aviva, whilst &me is M&G Wealth. Is there a connection between these two?

Sorry, I misremembered. &me uses Moneyfarm and the DD is taken as, "Moneyfarm."  I'm guessing Moneyfarm is just looking to earn some extra fees via white labeling but apparently M&G owns a minority stake in it:

https://www.thisismoney.co.uk/money/markets/article-10443419/M-G-buys-stake-Moneyfarm-develop-new-investment-service.html

"We’re backed by Allianz Global Investors, M&G, Cabot Square Capital, United Ventures, and Poste Italiane."

https://www.moneyfarm.com/uk/about-us/

Moneyfarm is another one to look out for cashback offers on.

cloud_dog

friolento said:

Have a look at Wealthify, CMC and &me, too.

The one I wouldn't use is Nutmeg.

Ummm, Wealthify that charge 0.6%pa in fees?  Probably not one for me.

CMC Invest charge £10pm for an ISA.  Nope, not for me.

&Me, I gave up looking for the charges.  I'm not saying they are not there but for someone used to looking for charges, not being able to easily find them gets a hard no from me.