UK Broker Fee Index — Q3 2026
An original data study of what the UK's investment platforms actually charge. We audited the published fee schedule of 15 share-dealing platforms available to UK investors — every platform fee, subscription, dealing commission, currency-conversion, withdrawal and inactivity charge — and computed the real annual cost for three investor profiles. Fees verified 17 August 2026.
The index covers the whole market, including platforms we earn no commission from. An index limited to our commercial partners would not be an index.
Reviewed by Yaniv Barshaf, CPA · Fees verified 17 August 2026 · Our methodology
Disclosure: FeesWizard may earn a commission if you open an account through links on this page. This never affects our fee data or rankings — how we make money.
Key findings
- Portfolio size decides which platform is cheapest. On a £50,000 portfolio the cheapest platform (InvestEngine, £0.00/year) beats the dearest (Hargreaves Lansdown, £293/year) by £293. On £250,000 the same comparison widens to £375 a year — InvestEngine at £0.00 against Vanguard UK at £375.
- 5 of 15 platforms charge an ongoing platform fee — a percentage of everything you hold, or a fixed monthly subscription. This is the largest cost for most buy-and-hold investors and the one least visible in marketing.
- The gap between the cheapest and most expensive currency-conversion fee is 33.0× — from 0.03% (Interactive Brokers) to 0.99% (Hargreaves Lansdown). On the same £10,000 of US-stock purchases, that is the difference between roughly £3.00 and £99 a year in conversion costs alone.
- 2 platforms charge no FX fee at all (InvestEngine, Vanguard UK).
- Only 1 of 15 platforms still charges an inactivity fee (XTB). Dormancy charges are disappearing from mainstream investing.
- 1 of 15 platforms still charges a standard withdrawal fee (eToro).
You are welcome to cite these figures — please credit FeesWizard with a link to this page. All money figures are in pounds sterling; fees published in another currency are converted at a fixed reference rate so that every number here is reproducible.
How to cite this study
The UK Broker Fee Index is free to cite with attribution. Suggested formats:
FeesWizard (Q3 2026). UK Broker Fee Index. Yaniv Barshaf, CPA. https://feeswizard.com/uk-broker-fee-index/
HTML link:
<a href="https://feeswizard.com/uk-broker-fee-index/">UK Broker Fee Index (Q3 2026) — FeesWizard</a>
Journalists: the author, Yaniv Barshaf (CPA), is available for comment — see the contact page.
Download the raw data
The underlying dataset is free to download and reuse with attribution — useful if you want to run your own analysis or check our workings.
Currency-conversion (FX) fees compared
The FX fee is the biggest hidden cost for UK investors buying US stocks — it applies to the whole converted amount, on the way in and again on the way out. How FX fees work →
The full fee matrix
Every headline fee, as published by each platform and verified 17 August 2026.
| Platform | Ongoing charge | Stock/ETF commission | FX fee | Withdrawal | Inactivity |
|---|---|---|---|---|---|
| InvestEngine | Market spread applies to ETF trades; InvestEngine adds no markup | £0 dealing commission on all ETFs (DIY portfolios); no platform fee | No FX fee — all ETFs are GBP-denominated | Free — no withdrawal fee | None |
| Vanguard UKNo affiliate relationship | Account fee 0.15% a year capped at £375; a £4/month minimum applies to accounts below £32,000 | No dealing charge on Vanguard funds and ETFs at the scheduled daily trade; £7.50 for optional live 'quote and deal' ETF trades | No FX charge — all funds and ETFs are GBP-denominated on the platform | Free to a linked UK bank account | None |
| Interactive BrokersNo affiliate relationship | No percentage platform or custody fee | UK shares 0.05% of trade value, minimum £3; European shares 0.05%, minimum €3; US shares from $0.005 per share, minimum $1 (Fixed pricing) | 0.03% currency conversion, minimum $2 per conversion — the lowest available | Two free withdrawal requests per calendar month; after that GBP 7.00 by bank transfer or GBP 1.00 by BACS/GIRO (EUR 8.00 / EUR 1.00; USD 10.00 / USD 1.00) | None on the standard account (the inactivity fee was removed in 2021) |
| Robinhood | Tight; payment-for-order-flow model | $0 / £0 commission on US stocks, ETFs and options (crypto in the US only) | US: none (USD-only). UK: 0.10% FX on GBP/USD conversion on weekdays, 0.30% from Friday 17:00 ET to Sunday 17:00 ET and on US public holidays | Free (bank/ACH); instant withdrawal 1.75% (US); account transfer out $100 | None |
| Lightyear | Interest paid on uninvested cash (GBP/USD/EUR, rates vary); debit-card deposits cost 0.6% | UK personal accounts (GIA and ISA): no execution fee on UK, US and European stocks or ETFs. EU accounts: GBP 1 per order on UK stocks, EUR 1 per order on EUR-denominated stocks, 0.1% on other European stocks, and 0.10% (min $0.10, max $1) on US stocks. ETFs are execution-fee-free on both. | FX fee 0.10% on UK GIA and ISA accounts; 0.35% on EU accounts | Free by local bank transfer. USD wire payments are charged (up to $8.50 UK, $6.11 EU). | None |
| Trading 212 | Spreads on CFDs; bank transfers in are free, while card, Google Pay, Apple Pay and Klarna deposits are free up to a lifetime total of £2,000/€2,000 and cost 0.7% after that | 0% | 0.15% FX fee on non-base-currency trades | Free | None |
| XTB | No custody fee up to €250,000 of holdings; above that 0.02% a year (minimum £10) on the excess. Spreads on CFDs | 0% up to €100k monthly turnover, then 0.2% (min €10) | 0.5% margin on the XTB exchange rate (0.8% on weekends and holidays) | Free above €100 (some entities charge €10 below €100) | EUR 10/month, only after 365 days with no trade AND no deposit in the previous 90 days. Not charged on ISA accounts, where open positions are held, or on a zero balance. |
| Webull | Tight; payment-for-order-flow model | $0 on stocks, ETFs and options (regulatory fees on sells) | No FX in the US (USD only). UK: 0.50% (50 bps) automatic conversion on the free Go account, 0.35% (35 bps) on Webull Meridian at GBP 5.00 a month | Free (ACH); wires $25 to send; account transfer out $75 | None |
| Revolut | Markup on out-of-allowance FX | 1 commission-free order a month on Standard (3 on Plus, 5 on Premium, 10 on Metal and Ultra); beyond the allowance 0.25% of the order amount, or 0.12% on Ultra, minimum GBP 0.01; the Stocks and Shares ISA shares the same allowance and rates | Free FX up to a monthly allowance, then 0.5% (unlimited on paid plans) | Free | None |
| eToro | Spreads on CFDs and crypto | $1–$2 per side on stock positions (charged on opening and on closing, varies by country of residence); ETFs 0% | ~0.75% FX fee on local-currency (GBP/EUR) accounts; none on USD account trading USD assets | $5 per withdrawal on USD accounts ($30 min); free on GBP/EUR accounts | None (eToro removed the inactivity fee in 2026) |
| AJ BellNo affiliate relationship | Custody charge 0.25% on funds (0.10% £250k–£500k, nil above £500k); 0.25% on shares and ETFs capped at £3.50/month | £5.00 per online share deal (£3.50 if you made 10+ share deals in the previous month); regular investing is free | Foreign exchange charge on international dealing, capped at 0.75% | Free to a linked UK bank account | None |
| interactive investorNo affiliate relationship | Flat monthly fee: Core £5.99 (portfolios to £100,000), Plus £14.99, Premium £39.99 — no percentage-of-portfolio charge | £3.99 per UK share trade (£2.99 on Premium); funds £3.99 on Core, £1.49 on Plus, free on Premium | 0.75% FX charge (Core); 0.75% on the first £50,000 then 0.25% (Plus); 0.25% (Premium) | Free to a linked UK bank account (next-day GBP and EUR); £15 for a same-day GBP or EUR withdrawal | None |
| FidelityNo affiliate relationship | Service fee 0.35% (0.20% from £250,000, nil above £1m); £7.50/month flat below £25,000 without a regular savings plan; capped at £90/year for shares and ETFs in an ISA or SIPP | £7.50 per online share, ETF or investment trust deal (£30.00 by phone); £1.50 for regular savings plan trades and dividend reinvestment; funds free | Tiered FX charge on international shares and non-sterling funds, applied per deal: 0.75% on the first £10,000, 0.50% on the next £10,000, then 0.25% above £20,000 | Free to a linked UK bank account | None |
| Freetrade | No added spread markup; FX conversion is the main dealing cost on foreign shares | £0 commission on all UK & US stocks, ETFs and investment trusts (all plans) | FX fee on non-GBP trades: 0.99% (Basic), 0.59% (Standard £5.99/mo), 0.39% (Plus £11.99/mo) | Free standard withdrawals; £5 for same-day withdrawal | None |
| Hargreaves LansdownNo affiliate relationship | Account charge 0.35% on funds (tiered down above £250,000); 0.35% on shares, ETFs and investment trusts capped at £12.50/month | £6.95 per online share deal (£3.95 if you dealt 20+ times in the previous month); £1.95 per online fund deal; free via monthly direct debit or dividend reinvestment | Tiered FX charge per deal: 0.99% on the first £10,000, 0.50% on the next £5,000, falling on larger deals | Free to a linked UK bank account | None |
Real annual cost, three investor profiles
Published fees applied to concrete portfolios. Each figure combines the platform fee, subscription, dealing commission, FX, dividend, withdrawal and inactivity charges that platform would levy on that investor, using its cheapest suitable plan — so no platform is judged on a tier the investor would not buy. Model your own portfolio with the interactive fee calculator.
Starter investor
£5,000 portfolio, £2,400 added a year, 12 trades a year, buys overseas assets
| # | Platform | Plan | Platform fee | Dealing | FX | Est. annual cost |
|---|---|---|---|---|---|---|
| 1 | InvestEngineCheapest | DIY portfolio | £0.00 | £0.00 | £0.00 | £0.00 |
| 2 | Robinhood | Robinhood UK | £0.00 | £0.00 | £2.40 | £2.40 |
| 3 | Lightyear | UK GIA / ISA | £0.00 | £0.00 | £2.40 | £2.40 |
| 4 | Trading 212 | Invest account | £0.00 | £0.00 | £3.60 | £3.60 |
| 5 | XTB | XTB account | £0.00 | £0.00 | £12 | £12 |
| 6 | Webull | Webull Go (UK) | £0.00 | £0.00 | £12 | £12 |
| 7 | Revolut | Standard plan | £0.00 | £0.00 | £12 | £12 |
| 8 | eToro | eToro account | £0.00 | £0.00 | £18 | £22 |
| 9 | Freetrade | Basic (free) | £0.00 | £0.00 | £24 | £24 |
| 10 | Interactive Brokers | IBKR Fixed pricing | £0.00 | £36 | £0.72 | £37 |
| 11 | Vanguard UK | Vanguard account | £48 | £0.00 | £0.00 | £48 |
| 12 | AJ Bell | AJ Bell account | £13 | £60 | £18 | £91 |
| 13 | Hargreaves Lansdown | HL account | £18 | £83 | £24 | £125 |
| 14 | interactive investor | Core (£5.99/mo) | £72 | £48 | £18 | £138 |
| 15 | Fidelity | Fidelity account | £90 | £90 | £18 | £198 |
Regular investor
£50,000 portfolio, £6,000 added a year, 12 trades a year, buys overseas assets
| # | Platform | Plan | Platform fee | Dealing | FX | Est. annual cost |
|---|---|---|---|---|---|---|
| 1 | InvestEngineCheapest | DIY portfolio | £0.00 | £0.00 | £0.00 | £0.00 |
| 2 | Robinhood | Robinhood UK | £0.00 | £0.00 | £6.00 | £6.00 |
| 3 | Lightyear | UK GIA / ISA | £0.00 | £0.00 | £6.00 | £6.00 |
| 4 | Trading 212 | Invest account | £0.00 | £0.00 | £9.00 | £9.00 |
| 5 | XTB | XTB account | £0.00 | £0.00 | £30 | £30 |
| 6 | Webull | Webull Go (UK) | £0.00 | £0.00 | £30 | £30 |
| 7 | Revolut | Standard plan | £0.00 | £0.00 | £30 | £30 |
| 8 | Interactive Brokers | IBKR Fixed pricing | £0.00 | £36 | £1.80 | £38 |
| 9 | eToro | eToro account | £0.00 | £0.00 | £45 | £49 |
| 10 | Freetrade | Basic (free) | £0.00 | £0.00 | £59 | £59 |
| 11 | Vanguard UK | Vanguard account | £75 | £0.00 | £0.00 | £75 |
| 12 | AJ Bell | AJ Bell account | £42 | £60 | £45 | £147 |
| 13 | interactive investor | Core (£5.99/mo) | £72 | £48 | £45 | £165 |
| 14 | Fidelity | Fidelity account | £90 | £90 | £45 | £225 |
| 15 | Hargreaves Lansdown | HL account | £150 | £83 | £59 | £293 |
Established investor
£250,000 portfolio, no new money, 6 trades a year rebalancing 5% of the portfolio
| # | Platform | Plan | Platform fee | Dealing | FX | Est. annual cost |
|---|---|---|---|---|---|---|
| 1 | InvestEngineCheapest | DIY portfolio | £0.00 | £0.00 | £0.00 | £0.00 |
| 2 | Robinhood | Robinhood UK | £0.00 | £0.00 | £13 | £13 |
| 3 | Lightyear | UK GIA / ISA | £0.00 | £0.00 | £13 | £13 |
| 4 | Trading 212 | Invest account | £0.00 | £0.00 | £19 | £19 |
| 5 | Interactive Brokers | IBKR Fixed pricing | £0.00 | £18 | £3.75 | £22 |
| 6 | Webull | Webull Go (UK) | £0.00 | £0.00 | £63 | £63 |
| 7 | Revolut | Standard plan | £0.00 | £0.00 | £63 | £63 |
| 8 | XTB | XTB account | £0.00 | £0.00 | £63 | £63 |
| 9 | eToro | eToro account | £0.00 | £0.00 | £94 | £98 |
| 10 | Freetrade | Basic (free) | £0.00 | £0.00 | £124 | £124 |
| 11 | AJ Bell | AJ Bell account | £42 | £30 | £94 | £166 |
| 12 | interactive investor | Core (£5.99/mo) | £72 | £24 | £94 | £190 |
| 13 | Fidelity | Fidelity account | £90 | £45 | £94 | £229 |
| 14 | Hargreaves Lansdown | HL account | £150 | £42 | £124 | £315 |
| 15 | Vanguard UK | Vanguard account | £375 | £0.00 | £0.00 | £375 |
Methodology
The index covers every share-dealing (stock and ETF) platform available to UK retail investors in our dataset of 23brokers, including those we have no commercial relationship with. Every figure is taken from the platform's official published fee schedule; the current dataset was verified on 17 August 2026, with per-platform sources listed above. Annual-cost estimates apply each platform's published charges to the stated profile using its cheapest suitable plan. CFD and spread-based brokers are excluded: their leveraged pricing is not directly comparable with share-dealing fees. Fees published in another currency are converted at a fixed reference rate rather than a live feed, so that every figure here can be reproduced. Government levies such as stamp duty are taxes rather than platform charges and are excluded. Full details in our methodology. This is factual decision-support information, not financial advice. Capital at risk. This is not financial advice. Investing involves risk of loss.
Updates
This is the Q3 2026 edition. The index is refreshed quarterly and fee changes between editions are documented here as they happen — this edition already reflects the Hargreaves Lansdown repricing of 1 March 2026 and the AJ Bell repricing of 1 May 2026. Spotted a fee change we have not reflected yet? Tell us and we will re-verify against the official source.
UK Broker Fee Index: frequently asked questions
Which UK investment platform is cheapest?
It depends on the size of your portfolio, which is the most important finding of this index. For a regular investor with £50,000 adding £6,000 a year, InvestEngine is cheapest at about £0.00 a year — £293 less than Hargreaves Lansdown, the most expensive, for identical investing. For an established investor with £250,000, the gap between InvestEngine and Vanguard UK widens to £375 a year.
How many UK platforms charge a percentage of your portfolio every year?
5 of the 15 UK-available investing platforms in this index charge an ongoing platform fee — either a percentage of everything you hold or a fixed monthly subscription. This is the charge that matters most to a buy-and-hold investor, because it is levied every year on the whole portfolio whether or not you trade and whether or not markets rise.
How much do broker currency-conversion (FX) fees vary in the UK?
A lot. Across the 15 UK-available investing platforms in our index, FX fees range 33.0× — from 0.03% (Interactive Brokers) to 0.99% (Hargreaves Lansdown), with InvestEngine and Vanguard UK charging no FX fee at all. FX is the largest recurring cost for many UK investors buying overseas shares.
How many UK brokers still charge an inactivity fee?
Only 1 of the 15 UK-available investing platforms we track still charges an inactivity fee (XTB). Dormancy charges have largely disappeared from mainstream investing platforms.
Does commission-free investing mean it is free?
No. Zero-commission dealing is now standard, but platform fees, subscriptions, currency-conversion charges, withdrawal fees and inactivity fees still separate the cheapest platforms from the most expensive. 14 of the 15 platforms in this index charge at least one of them, and on identical investing the gap between cheapest and dearest reaches £375 a year on a £250,000 portfolio.