S&s platforms

dunstonh

They aren't mentioned on mse s&s page?

MSE doesn't mention the vast majority of platforms. MSE articles have never been strong on investments but that is understandable once you realise the issues.

It is also notoriously difficult to create a list of best buys, as so much depends on software, preferences, asset types, and financial solvency. Many of the low cost platforms are running at losses and rely on third party funding. There are far too many platforms, and some are going to fall by the wayside. At the moment, backers are trying to buy market share. So, there is an element of risk if you use a loss-making platform.

MSE probably doesn't want to be anywhere near recommending platforms at the riskier end of the scale. Plus, MSE takes into account capacity. i.e. if a firm is mentioned on MSE, it will create massive inflows and many firms can't handle that.

Lightyear only forecasted a turnover of £2.1m in 2025 (which reflects its small size - that is about twice the size of local IFA with 5 advisers operating out of a single office - just to give you some context) but losses of 3.5m in the same period. So, its very much reliant on venture capital and is in the growth stage. For individuals making their own mind up, they can decide if its worth the risk.

expansion

I wouldn't trust some Youtuber pulling funny faces on his thumbnails or assume honest reviews without commissions being involved.

Start with a basic cost comparison to find suitable type of platform, narrow down to a few names and read reviews.

friolento

https://monevator.com/compare-uk-cheapest-online-brokers/

This might help you chosing a platform or two.

Aminatidi

https://forums.moneysavingexpert.com/discussion/comment/81949220#Comment_81949220

Usually the "best" platform comes down to a mix of the total amount invested, what it's being invested in, and how it's being invested i.e. a single lump sum or regular investments.

Sometimes the most suitable platform for one person can be totally unsuitable for another person.

Some of the platforms mentioned don't offer funds just shares and ETFs so that may rule them out.

Some of the platforms mentioned have a flat fee and no ongoing fee whilst some have an ongoing fee.

Some have trading fees whilst some don't and some offer "free" trading but you might not get a price that's as competitive as you would on a paid platform.

It really does depend.

wmb194

https://forums.moneysavingexpert.com/discussion/comment/81950550#Comment_81950550

"Some have trading fees whilst some don't and some offer "free" trading but you might not get a price that's as competitive as you would on a paid platform."

This is the assumption/conspiracy theory but in my experience with Freetrade, T212, IG Invest, InvestEngine, Robinhood UK and CMC Invest this isn't the case.

Now that Freetrade's owned by IG, offers c.500 OEICs, a small selection of conventional gilts, added web browser access and it's constantly improving I think it's a really good option.

masonic

https://forums.moneysavingexpert.com/discussion/comment/81950556#Comment_81950556

It is unlikely to be the case due to their best execution policies and rules of the LSE. The free platforms are generally cross-subsidised or generate revenue from foreign exchange fees (some tend to nudge customers into foreign currency instruments), while others are simply burning investor cash to build market share.

Aminatidi

Monevator said much the same thing only a few months back.

If it's not an issue great 👍🏼

olb81

https://forums.moneysavingexpert.com/discussion/comment/81950435#Comment_81950435

Hmm yeh he also resembles David Icke so that makes me doubt some of his advice