Summary

Interactive Investor is a well-known financial and investment services company with a customer base of over 400,000. This broker was founded in 1995 and has its headquarters in Manchester, United Kingdom. They offer real shares along with funds, investment trusts, and ETFs.

This Interactive Investor review will provide you with all the information you need before you begin with the broker. It covers their available assets, regulations, fees, account types, trading platforms, and payment methods. It also offers insights into user opinions of their services across multiple social media platforms, including Reddit, Quora, and TrustPilot.

Available Assets

Interactive Investor offers several investment types, including 40,000+ shares, 3,000+ funds, 600+ investment trusts, and 1000+ ETFs. They also provide corporate bonds and gilts. Unfortunately, despite their large assets offering, they do not list forex pairs, commodities, indices, or cryptocurrencies. As an essential part of our Interactive Investor review, we cover their available assets and provide you with a few examples from each of these instrument types listed on the broker’s platform.

Stocks

This broker provides 40,000+ shares from the United Kingdom and 15+ other global exchanges. On the Interactive Investor platform, clients will be able to invest in popular shares such as Netflix, Microsoft, Amazon, and Tesla.

ETFs

ETFs enable individuals to invest in a wide range of shares via an index. There are 1,000+ of these instruments available on this broker, including popular choices such as Vanguard FTSE 100 UCITS and Vanguard FTSE 250 UTICS.

Investment Trusts

Investment trusts operate similarly to funds by allowing clients to invest in a collection of stocks or property. An individual who is interested in this particular asset will be able to select from 600+ options on any of the broker’s trading apps or platforms. Some examples of investment trusts offered by Interactive Investor include JPMorgan Global Growth and Income Ord and City of London Ord.

Funds

Interactive Investor provides 3,000+ funds, including active and passive funds. Users of this broker will be able to find assets such as HSBC American Index C Acc, Fundsmith Equity I Acc, and Vanguard LifeStrategy 80% Equity A Acc. They will also have access to carefully selected investment lists, including the ii Super 60 and ii Ace 40.

Bonds

With Interactive Investor, clients looking for low-risk, fixed-income investments will be able to diversify their portfolios with corporate bonds and gilts. They list Bonds from the United Kingdom, Bank of Ireland, and Provident Financial Plc.

Stock Trading at Interactive Investor

This broker offers only real stocks. There is no possibility for CFD trading on any of their platforms. Real stocks are available at Interactive Investor from a diverse range of markets across several countries, including the United States, Canada, Germany, France, Spain, and Switzerland.

As we continue this Interactive Investor review, it is important that we discuss the broker’s available stock exchanges, the presence of margin trading, and any stock trading fees incurred by clients.

Available Stock Exchanges at Interactive Investor

Interactive Investor provides access to UK and international markets. Overall, there are 17 global exchanges listed by them on their website. These exchanges are outlined in the table below.

Stock Trading Fees & Commission at Interactive Investor

The broker charges a commission on share trades on their platform. However, the amount varies depending on the exchange used, the client’s subscription plan, and the overall transaction volume.

UK and US shares are charged at £5.99 for the Investor, Investor Essentials, and Pension Builder plans. The Super Investor plan, however, costs £3.99. For large transactions where the total value is more than £100,000, the commission will be 0.04% of the overall trade amount.

Investing with international exchanges attracts a much higher cost than their US and UK counterparts. Customers who are on the Investor, Investor Essentials, or Pension Builder plan are required to pay a commission of £19.99. Those on the Super Investor plan will be charged  £5.99. High-value transactions exceeding  £25,000 will cost 0.10% of the total value.

Stock Trading Leverage at Interactive Investor

Interactive Investor does not offer margin trading on stocks. What this means for their clients is that they will not be able to hold positions that are larger than their available balance.

Regulations

Interactive Investor is solely regulated by the United Kingdom’s Financial Conduct Authority (FCA). The FCA is a tier-1 financial regulatory body. Obtaining a license from this organization gives credence to this broker’s status as a reliable option for customers. Here in our review, we provide you with their licensing information, address, and company registration details.

Interactive Investor Services Limited: This entity is regulated by the FCA. They are a member of the London Stock Exchange and NEX Exchange. They are located at 201 Deansgate, Manchester, M3 3NW.

• Company Registration Number: 02101863
• FCA Reference Number: 141282

Fees and Commissions

The broker charges its clients specific fees and commissions for trading and non-trading-related activities. Below, we explain each of these Interactive Investor fees and provide you with adequate information about the financial implications of investing with them.

Trading Fees

Interactive Investor does not offer CFD instruments and does not make money by charging its customers on the spreads between assets. However, they do charge a fixed commission on trades.

Commission

Commissions on shares and funds with this broker depend on their client’s subscription plan, the size of the transaction, and the exchange they use. UK shares and funds, as well as US shares, cost £5.99 for all plans except the Super Investor plan, which has a reduced rate of £3.99

International shares, however, attract a fee of £19.99 and £5.99 for all subscription options and the Super Investor plan, respectively. Trades involving US shares with an overall value exceeding £100,000 have a commission of 0.04% of the transaction value. Furthermore, international trades over £25,000 will cost 0.10% of the contract value.

Non-Trading Fees

Non-trading fees with this broker include currency conversion, monthly subscription, and urgent withdrawal fees. They do not charge a deposit fee.

 Monthly Subscription Fee

Interactive Investor offers four fixed subscription plans, each with its monthly fees. The Investor Essentials plan attracts a £4.99 charge per month, while the Investor, Super Investor, and Pension Builder plan cost £9.99, £19.99, and £12.99, respectively.

Currency Conversion Fee

This broker charges a currency conversion fee for investments in a denomination that is different from their customer’s account base currency. The FX Rate is based on the margin rate of the trade, which can be as high as 1.5%, depending on the overall transaction value.

Urgent Withdrawals and Other Currency Withdrawals

While Standard withdrawals do not attract any costs, clients who wish to expedite their withdrawal process will be required to pay £15. Also, for withdrawals in a different currency, this broker charges £15.

Other Charges

In addition to the charges mentioned so far in this review, there are also added charges that clients of this broker may be required to pay. Interactive Investor charges £35 + VAT as a share certificate withdrawal fee to clients who wish to convert their online share certificates to paper. Customers will also incur a fee of £25 for bounced cheques, rejected debit card payments, and other failed payments. Furthermore, non-UK residents will be required to pay £4 per month.

Account Types

Interactive Investor account types include Stocks and Shares ISA, Trading, Self-Invested Personal Pension, Junior ISA, and Cash Savings. Unfortunately, they do not provide a demo option where individuals can trade with virtual currency. Each of their available accounts has its unique features, which we cover below as part of our Interactive Investor review. In addition to that, we also mention the eligibility criteria for all accounts with this broker.

Stocks and Shares ISA

This account type allows clients to invest up to £20,000 each year without accruing any income or capital gains tax. Customers of this broker can access the Stocks and Shares ISA, provided they are on a subscription plan. To be eligible for this option, the client must be a UK resident and above 18 years old.

Trading Account

Interactive Investor provides a trading account for clients who desire unlimited investment opportunities with no restrictions. Owners of this account will be able to trade all shares, funds, trusts, and ETFs listed by this broker. The trading account is considered a general investment option. It allows for shared ownership through a joint trading account. Like with the Stocks and Shares ISA, the trading account is available to all subscription plans.

Self-Invested Personal Pension (SIPP)

The SIPP account type is designed for individuals who intend to invest toward retirement. Clients can fund their accounts annually with up to £60,000 or 100% of their earnings for that tax year. Another major benefit of this account type is that owners can enjoy tax relief of 20% or more. Currently, money invested in a SIPP can be withdrawn when the account owner turns 55. However, by 2028, this age barrier will increase to 57. Finally, to access the SIPP account, users would need to pay up to £12.99 per month for a Pension Builder plan. Those on the Investor or Super Investor plan will pay an additional £10 in addition to their regular monthly fee.

Junior Stocks and Shares ISA

The Junior Stocks and Shares ISA is similar to the regular ISA account type. However, it is meant for individuals below 18 years. Although it can be funded by anyone, the account opening process can only be done by a parent or guardian. Also, management of investments can only be done by the individual (parent or guardian) who opened the account. The maximum investment amount that is not subject to tax or gains is £9,000 per year. Furthermore, funds can be accessed by the child as soon as they turn 18. To be eligible for a Junior Stocks and Shares ISA with this broker, the user must be on the Investor or Super Investor plan and open a regular ISA or trading account.

Cash Savings Account

A cash savings account offers fixed interest rates applied over a specific period. The minimum amount for this account type is £10,000 and the maximum is £250,000. Once this account is funded, customers can select the best rates for them, depending on their chosen duration. These rates are provided by over 25 top banks.

Trading Platforms

Interactive Investor provides its exclusive trading platform which is available as a mobile and web application. Clients can only invest with this broker on these apps as they are not compatible with MetaTrader or cTrader. As we continue with this review, this segment covers the features of the Interactive Investor app for desktop and mobile users. We also carefully outline the sign-up process on each of these platforms and discuss any requirements customers may need to open an account and start investing.

Desktop Trading Platforms

Here, we examine the features of the desktop application for Interactive Investor and outline how users can open an investment account in simple steps.

User Interface

The user interface of the Interactive Investor web application is straightforward and seamless. There are limited charting tools and there is minimal lag time while using this platform’s features.

Design

There are relatively few tabs and options on this broker’s web application compared to several other apps or popular platforms such as MetaTrader. However, the design is easy-to-understand and use.

Search

The search function makes it easy for clients to identify their preferred asset from a list of over 40,000 options. Users can select their desired market and type the symbol for their preferred instrument.

Price Alerts

There are several portfolio tools available on the web application. One of them is the ability to set price alerts for when specific assets reach a predetermined price point. Also, the watchlist feature allows customers to organize all the financial assets they are interested in into a single view.

How to Open an Account on Interactive Investor Desktop Trading Platform

1. Visit the broker’s website and select Get Started.
2. Choose your account type from the list of options provided.
3. Respond to a survey requesting that you indicate how much you intend to invest.
4. Once you select your proposed investment range, you will be provided with a list of plans. Pick the one that you feel is most appropriate for your investment needs.
5. Provide information regarding your personal details, tax information, and employment status.
6. Supply your debit card information and any other verification documents requested and wait for your investment account to be approved.

Mobile Apps

Below, we discuss some of the features of the Interactive Investor mobile app. We also provide you with a step-by-step process for opening an account with this broker.

User Interface

The user interface of the Interactive Investor app is very intuitive. It is highly beginner friendly and allows for quick and easy navigation between tabs.

Design

The design of this broker’s mobile application is minimalistic, with just four tabs – Portfolio, Wallet, Trade, and Research. Clients can view all the essential information they need to place an order with relative ease.

Research

The research feature provides users with the ability to monitor the latest happenings in various industries and gain useful investment tips. Clients will be able to filter their research articles across different sub-categories to create a more personalized experience.

Watchlists

Watchlists enable customers to aggregate all their preferred assets into a single view. By selecting watchlists, users can create several lists and organize their financial instruments in whichever way they choose.

How to Open an Account on Interactive Investor Mobile App

1. Visit the Google Play Store or Apple App Store and search for Interactive Investor.
2. Once the app is installed, open it and select Get Started.
3. Select an investment account.
4. Indicate how much you wish to invest.
5. Choose a monthly subscription plan.
6. Fill in your personal information, tax details, and employment status.
7. Provide the listed verification documents and await confirmation of your account verification status.

Payment Methods

Next, in our review, we explore the available methods for deposits and withdrawals at Interactive Investor. We also give insights regarding the processing times for each of these options.

Deposit

Individuals who use this broker can add money to their live accounts via a UK debit card, direct debit, bank transfers, or cheques. They do not allow deposits with credit cards and non-UK debit cards. They also do not permit third-party deposits. Clients can only fund their investment accounts from a bank account bearing their name. Also, non-sterling deposits are only possible through bank transfers.

When making a payment via bank transfer, customers of this broker will be required to add their 7-digit trading account number as a reference. In addition, cheques must be addressed to Interactive Investor Services Limited. There are no deposit fees or minimum deposit amounts. However, for debit card payments, the maximum deposit amount is £99,999.

The processing time for deposits depends largely on the method used. While debit card funding typically happens instantly, other methods may require up to 2 – 3 business days for completion.

Withdrawals

Clients can retrieve their funds by requesting a Standard or Urgent withdrawal. Standard withdrawals are free, but Urgent withdrawals attract a fee of £15. Similarly, sending your funds in other currencies apart from Pound Sterling and Euro will also cost £15.

The processing time for withdrawals depends on the time of the request. Requests made before 2 pm will be processed by the end of the next business day. However, those that do not fall within this time range will be processed after two business days. By demanding an urgent withdrawal, clients can reduce their wait times by about 24 hours. Finally, transferring funds to your bank account in another currency can take up to 5 working days.

Account Base Currency

This broker allows its clients to own accounts in 9 base currencies which are: GBP, USD, EUR, CAD, HKD, SGD, AUD, SEK, and CHF.

Research and Education

Interactive Investor has an extensive range of educational materials. Most of these resources are very beginner friendly. They have a beginner’s guide that covers the basics of trading and investing. They also provide Jargon Busters, a series of articles that simplify complex investment concepts for their clients. In addition, they offer a Finance for Kids section to enable children to learn and understand finance-related subjects.

Apart from articles, they also have videos and podcasts. These videos cover topics such as What is a Stocks and Shares ISA and What is a SIPP. One of the unique features of this broker with respect to its educational resources is its Ask ii segment. This offering includes responses to customer questions on a variety of investment-related topics. Customers can request information and have their responses pasted on this broker’s website as educational articles by sending an email to ask@ii.co.uk. Finally, they provide detailed reports, including the Private Investor Index, Great British Retirement Survey, and Future Growth Report.

Customer Services

As part of our Interactive Investor review, we take a look at this broker’s customer service options. Clients who encounter challenges of any sort while using this brokerage company can forward their complaints across several channels. They provide a phone number (0345-607-6001) for direct communication with a customer service representative. This phone line is typically active between 7:45 am and 5:30 pm from Monday to Friday. Also, they allow users to log into their accounts via their official website and send a secure message. Furthermore, investors and traders who use this broker can write a letter and send it to the broker’s address on the 2nd floor, One Embankment, Neville Street, Leeds, LS1 4DW.

In addition to the methods that have been listed, users can visit the Help Center on this broker’s website to check if their questions have been treated among the FAQs. Those who wish to employ other means of obtaining resolutions to their complaints may do so by sending a direct message on any of Interactive Investor’s social media pages. They currently have accounts on Facebook, Twitter, and Linkedin. Unfortunately, there is no live chat option.

Online Reviews

This section of our review will provide you with insights regarding user opinions of this broker. Although several sites provide feedback on broker services, we are focusing on popular and reputable platforms such as Reddit, Quora, TrustPilot, and ForexPeaceArmy. Below, we outline a summary of what people are saying about Interactive Investor across these pages.

What Reddit Users Say About Interactive Investor

Comments on Reddit about this broker are evenly spread, with a similar amount of negative as well as positive feedback about their services. Many people praised them for their flat fee structure. They also lauded Interactive Investor for providing wide exposure to markets in various countries.

However, some Redditors criticized the broker for their poor customer support. There were a few individuals who claimed that it took a very long time before they received a resolution after submitting their complaints. Also, it was widely mentioned that their fees are relatively expensive for investors with a small portfolio size.

What Quora Users Say About Interactive Investor

Unfortunately, we could not find any user opinion of this broker on Quora. There are limited queries about them on the Quora website and none of these posts have received any responses so far.

TrustPilot Users’ Review About Interactive Investor

On TrustPilot, Interactive Investor is rated Excellent, with an average score of 4.7/5 from 22,169 reviews. Unlike the comments from Reddit, most users on the TrustPilot website praised this broker’s customer service. Several accounts praised their service agents for providing swift and valuable assistance to their problems.

One of the issues that raised frequent complaints was this broker’s website and trading apps. Many people bemoaned the constant changes which they believed affected these platforms’ functionality. They stated that they had issues with regular lagging and poor interface. Some users also mentioned that they were randomly logged out multiple times without warning.

ForexPeaceArmy Users’ Review About Interactive Investor

At the moment, Interactive Investor is unrated on ForexPeaceArmy. There have also been no reviews of this broker’s services on this platform.

Other Products and Services

One thing we have also considered in this review is the broker’s additional products and services. Below, we discuss any other offerings they provide which were not mentioned in the sections above.

Affiliate Program

Interactive Investor offers an affiliate program to content creators who wish to make extra income by referring investors to their platform. This affiliate system provides real-time reporting and sales tracking. It also employs a tiered commission system in rewarding affiliates for every successful referral.

For each person who you refer to this broker, your trading account will be credited with £200. However, your referral must fund their account with a minimum of £10,000 before you can receive this bonus.

Model Portfolio

With Model Portfolio, clients of this broker will have access to ready-made portfolios. There are five model portfolios available on Interactive Investor. Each of them is managed by skilled investment experts and designed to help customers reach their financial targets.

50% Off Trading Fees for US Shares

Interactive Investor provides a limited-time discount offer on its available US shares. Clients who wish to purchase stocks from companies listed on the NASDAQ exchange can do so and save up to half of the regular trading fees on their transaction.

Is Interactive Investor Safe?

In addition to all the essential subjects explored above, we also examine the safety protocols Interactive Investor employs for their client’s funds. With an overall customer assets valuation exceeding £59 billion and 400,000+ clients, this broker guarantees fund security by using segregated bank accounts. They perform rigorous due diligence and only keep monies in banks that are eligible under the Financial Services Compensation Scheme (FSCS) deposit protection scheme. Furthermore, all user assets have Trust Status, meaning that creditors cannot lay claim to these investments. If the banks where customer funds are kept fail, the FSCS offers a maximum compensation limit of £85,000.

This broker takes adequate measures to ensure that its users’ personal and financial data is free from compromise. One such measure is engaging in an annual independent security audit from a reputable third-party company. They also maintain accurate records of their client’s assets and update them daily. Finally, they are regulated by the FCA.

Bottom Line

Our Interactive Investor review discusses some of the broker’s positives. One of which is its large repository of educational materials which are suitable for investors of all levels. Also, their responsive customer support and flat platform fees have been singled out for praise by many customers. However, this broker can be considered relatively expensive for investors who have a relatively small portfolio. They also do not offer fractional shares or very popular CFD instruments such as forex, indices, and commodities. Financial instruments available on their trading platforms include shares, funds, bonds and gilts, investment trusts, and ETFs. There are 17 global exchanges listed by this broker, including NASDAQ, London Stock Exchange, SIX Swiss Exchange, and Euronext Dublin.

Interactive Investor’s regulation by the FCA and compliance with the body’s rules indicate that they can be seen as a trustworthy investment company. In addition to this, they also incorporate various safety measures to instill confidence in their customers and ensure fund safety.

Available payment methods with this broker include debit cards, bank transfers, cheques, and direct debit. They do not allow third-party transfers. They also provide the option of expedited withdrawals for a fee of £15. To reach Interactive Investor for inquiries or complaints, you can call their customer service lines at 0345-607-6001. You can also forward mail to their address on the 2nd floor, One Embankment, Neville Street, Leeds, LS1 4DW. Finally, you can contact them by visiting their social media pages.