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How do you find the best investment platform for customer service? Our exclusive survey reveals what users think of their provider - and how much they're paying.
MT
Megan ThomasResearcher & writer
In this article
- What's the best investment platform?
- Best investment platforms - our ranking
- Who are the Which? Recommended Providers?
- Who are the best 'do-it-for-me' investment platforms?
- More on investment platforms
- How we analysed the investment platforms - our methodology
What's the best investment platform?
Choosing the right investment platform (or 'fund supermarket') could save you money, and give you the information and tools you need to choose better investments.
We've surveyed thousands of investment platform customers, and analysed fees, to rank the biggest platforms and pick our Which? Recommended Providers. Find out the results, and our methodology, below.
Please note: the content contained in this article is for information purposes only and does not constitute financial or investment advice.
Our analysis contains customer ratings and fee analysis for huge names, such as Hargreaves Lansdown, Vanguard, AJ Bell, Fidelity, Halifax Share Dealing and many more investment platforms.
Members can log in to see the results of our analysis. If you're not already a member, join Which? and get full access to these results and all our reviews.
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Best investment platforms - our ranking
Platforms are ranked by customer score. You can sort by other scores by clicking on the three horizontal lines icons.
| Investment platform | Customer Score | Online tools | App functionality | Customer service | Information on investment opportunities | Investments available | Ease of monitoring performance | Value for money |
|---|---|---|---|---|---|---|---|---|
Sign up to reveal Get instant access to this and all our scores and recommendations. Unlock tableFirst month £5, then £10.99 per month, cancel at any time Already a member? Log in | 74% | - | ★★★★★ | ★★★★★ | ★★★☆☆ | ★★★★☆ | ★★★★☆ | ★★★★☆ |
| 73% | - | ★★★★★ | ★★★★★ | ★★★★☆ | ★★★★☆ | ★★★★★ | ★★★★☆ | |
| 73% | ★★★★☆ | - | ★★★★☆ | ★★★☆☆ | ★★★★☆ | ★★★★★ | ★★★★☆ | |
| 72% | ★★★★★ | ★★★★★ | ★★★★★ | ★★★★☆ | ★★★★☆ | ★★★★★ | ★★★★☆ | |
| 72% | ★★★★☆ | ★★★★★ | ★★★★☆ | ★★★☆☆ | ★★★☆☆ | ★★★★☆ | ★★★★☆ | |
| 72% | ★★★☆☆ | - | ★★★★★ | ★★★★☆ | ★★★☆☆ | ★★★★☆ | ★★★★☆ | |
| 70% | ★★★★☆ | ★★★★☆ | ★★★★★ | ★★★☆☆ | ★★★☆☆ | ★★★★☆ | ★★★★☆ | |
| 68% | ★★★★☆ | ★★★★☆ | ★★★★☆ | ★★☆☆☆ | ★★★☆☆ | ★★★★★ | ★★★☆☆ | |
| 68% | ★★★★☆ | ★★★★☆ | ★★★★☆ | ★★★☆☆ | ★★★★☆ | ★★★★☆ | ★★★☆☆ | |
| 67% | ★★★☆☆ | ★★★★☆ | ★★★★★ | ★★★☆☆ | ★★★☆☆ | ★★★★☆ | ★★★☆☆ | |
| 67% | ★★★☆☆ | ★★★★☆ | ★★★★☆ | ★★★☆☆ | ★★★☆☆ | ★★★★☆ | ★★★☆☆ | |
| 67% | ★★★★★ | ★★★★★ | ★★★★★ | ★★★★☆ | ★★★★☆ | ★★★★★ | ★★☆☆☆ | |
| 66% | ★★★☆☆ | - | ★★★★☆ | ★★★☆☆ | ★★★★☆ | ★★★★☆ | ★★★☆☆ | |
| 64% | ★★★☆☆ | ★★★★☆ | ★★★★★ | ★★★☆☆ | ★★★☆☆ | ★★★☆☆ | ★★★☆☆ | |
| 63% | ★★★☆☆ | ★★★★☆ | ★★★★★ | ★★★☆☆ | ★★★★☆ | ★★★★☆ | ★★☆☆☆ | |
| 62% | ★★★☆☆ | ★★★★☆ | ★★★★☆ | ★★★☆☆ | ★★★☆☆ | ★★★★☆ | ★★☆☆☆ | |
| 62% | ★★★☆☆ | ★★★★☆ | ★★★★☆ | ★★★☆☆ | ★★★☆☆ | ★★★★☆ | ★★☆☆☆ | |
| 62% | ★★★☆☆ | ★★★★☆ | ★★★★★ | ★★★☆☆ | ★★★☆☆ | ★★★★☆ | ★★★☆☆ | |
Sign up to reveal
Get instant access to this and all our scores and recommendations.
First month £5, then £10.99 per month, cancel at any time
Already a member? Log in
Table note: In January 2023, we surveyed 6,073 investors about their investment platform. Each platform must have at least 30 responses to receive a customer score. See below for how we pick Which? Recommended Providers.
Who are the Which? Recommended Providers?
Members can log in to see which platforms were named Which? Recommended Providers. If you're not already a member, join Which? and get full access to these results and all our reviews
Who are the best 'do-it-for-me' investment platforms?
'Do-it-for-me' investment platforms pick a portfolio of investments for you, based on a questionnaire about your investment aims and attitude to risk.
Though more expensive than most DIY platforms, they're considerably cheaper than using a financial adviser.
We asked customers of the three leading 'do-it-for-me' investment platforms - Moneyfarm, Nutmeg and Wealthify - to rate their platforms. We also analysed their fees.
| Investment platform | Which? Customer Score | Customer service | Value for money | Meets your needs | Investment performance information | Information on investment opportunities | Online tools | Smartphone app |
|---|---|---|---|---|---|---|---|---|
Sign up to reveal Get instant access to this and all our scores and recommendations. Unlock tableFirst month £5, then £10.99 per month, cancel at any time Already a member? Log in | 67% | ★★★★☆ | ★★★★☆ | ★★★★☆ | ★★★★☆ | ★★★☆☆ | ★★★★☆ | ★★★☆☆ |
| 67% | ★★★★☆ | ★★★★☆ | ★★★★☆ | ★★★★☆ | ★★★☆☆ | ★★★★☆ | ★★★☆☆ | |
| 58% | ★★★★☆ | ★★★★☆ | ★★★★☆ | ★★★★☆ | ★★★☆☆ | ★★★★☆ | ★★★☆☆ |
Sign up to reveal
Get instant access to this and all our scores and recommendations.
Unlock tableFirst month £5, then £10.99 per month, cancel at any time
Already a member? Log in
More on investment platforms
All the investment platforms we've rated are covered by the Financial Services Compensation Scheme (FSCS).
This means if these investment platforms go out of business, the FSCS will compensate you by up to £85,000 (the rest of your money should be protected by ring-fencing).
FSCS protection doesn't cover the value of your investments falling, which is a risk with all investments.
If you have a dispute with these platforms, you can complain to the Financial Ombudsman Service.
Find out more about investment protection in our guide.
Investment platforms have a range of charges, from fixed, pounds and pence fees to a percentage charge, based on the amount you have invested. Some combine the two. You'll also usually face dealing charges for trading funds and shares.
A small percentage difference can add up to thousands of pounds for a large portfolio. Crucially, fees apply whether your investments perform well or not.
If you're already investing via a platform, you could consider switching through a stocks and shares Isa transfer.
We've crunched the numbers to show you in pounds and pence how much you'll pay for a range of portfolio sizes. Find out more in our guide to investment platform charges.
Many platforms provide lists of recommended funds, investment news, tips, live price charts, calculators and more to help you pick investments.
But you'll still have to make the decision of what to invest in.
If you're not confident making that decision, consider talking to an independent financial adviser.
If you've already got a portfolio of funds that you intend to leave alone for a few years, you could save on fees by going for a platform with fewer tools.
Yes: some platforms will only give you a choice of a dozen funds, while others offer thousands of funds, stocks, trusts and more from across the globe.
However, if this sounds daunting to you, other platforms offer a smaller selection of investments.
Read our individual investment platform reviews to see what's on offer.
Or, if you're not sure what you should be investing in, read our beginner investors guide.
If you're just starting to invest, look for a platform with lower fees for smaller portfolio sizes.
You may not need tracking tools or calculators, but guides, recommended fund lists and template portfolios could prove useful - find who offers what in our individual platform reviews.
Also see our guide to getting started in investing.
If you're planning to take an income from your pension using adrawdown planvia an investment platform, we've done the hard work for you.
We've compared pension drawdown charges for more than 20 companies, including many of the investment platforms featured in our analysis here.
How we analysed the investment platforms - our methodology
1. Customer scores
In January 2023, we surveyed 6,073 investors and gave their customer scores to 18 do-it-yourself investment platforms and three robo-advisers. Each platform must have at least 30 responses to receive a customer score.
- We ask investors to rate their current platform for the quality of its online tools and smartphone app, customer service, information on investment opportunities and performance. We also ask whether it meets their needs, represents value for money and whether they would recommend it to someone else.
- We don't analyse the performance of investments listed by investment platforms, as different investors will opt for different investments.
- Sample size as follows: Plum (47), Moneybox (125), Vanguard (435), AJ Bell (276), Freetrade (146), The Big Exchange (43), InvestEngine (51), Halifax Share Dealing (356), Interactive Investor (515), Bestinvest (88), Close Brothers Asset Management (49), Hargreaves Lansdown (1310), HSBC (224), Aviva (159), Charles Stanley Direct (105), Barclays Smart Investor (263), Fidelity (523), Santander Investment Hub (92).
2. Classifying Which? Recommended Providers
To be classed as a Which? Recommended Provider (WRP), the platform needs to have a customer score above 70%.
Companies who reach this score can then be excluded if they are in the top 25% most expensive platforms for any of our cost scenarios, based on our fees analysis. Platforms will also not be eligible for WRP status if they receive a two-star rating or lower in any of our individual categories.
Although we also get customer scores for robo-advisers/do-it-for-me platforms, only do-it-yourself platforms are currently eligible for WRP status.
Investment platforms reviewed
- Cheapest investment platforms
- Aviva investments review
- AJ Bell review
- Barclays Smart Investor review
- Bestinvest review
- The Big Exchange review
- Charles Stanley Direct review
- Close Brothers Asset Management review
- Fidelity review
- Freetrade review
- Halifax Share Dealing review
- Hargreaves Lansdown review
- HSBC investments review
- Interactive Investor review
- InvestEngine review
- Moneybox review
- Moneyfarm review
- Nutmeg review
- Plum review
- Santander Investment Hub review
- Vanguard review
- Wealthify review
Investment platforms reviewed
- Cheapest investment platforms
- Aviva investments review
- AJ Bell review
- Barclays Smart Investor review
- Bestinvest review
- The Big Exchange review
- Charles Stanley Direct review
- Close Brothers Asset Management review
- Fidelity review
- Freetrade review
- Halifax Share Dealing review
- Hargreaves Lansdown review
- HSBC investments review
- Interactive Investor review
- InvestEngine review
- Moneybox review
- Moneyfarm review
- Nutmeg review
- Plum review
- Santander Investment Hub review
- Vanguard review
- Wealthify review
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