How to choose the best investment platform

Why your platform choice matters more than ever

Choosing the right investment platform for your individual needs is one of the most critical decisions UK investors face. With more than 40 platforms vying for your attention, the range of features, fees and functionality varies widely, and the consequences of a poor choice can be long-lasting.

For example, a seemingly small annual fee difference of just 0.5% on a £50,000 portfolio can amount to over £15,000 lost over two decades. Some platforms offer access to thousands of global investments, while others limit you to a narrow selection. Tax efficiency also differs — some platforms provide you with comprehensive access to ISAs and SIPPs, while others only offer a basic General Investing Account.

Perhaps most concerning, recent data from the Financial Conduct Authority reveals that 69% of UK investors don’t fully understand their platform’s fee structure, which often leads to eroded returns over time. 

Our six factor investment platform evaluation framework

Professional investors never rely on gut feeling when choosing a platform. Instead, they analyse their options using a consistent framework, and retail investors should consider the same:

1. Investment access — a decent platform should give you exposure to UK, US, European and emerging markets shares, as well as an array of exchange-traded funds (ETFs), bonds and REITs. We offer over 17,000 global stocks and ETFs across eight exchanges.
2. Costs — fees are one of the most important factors to consider, especially as their effect compounds and significantly impacts on long-term performance. Together with forex fees and custody expenses, they make up most of your total platform cost. We offer fee-free trading for the majority of share trading markets and only a 0.7% forex fee.
3. Tax-efficient accounts — the vast majority of UK investors benefit from access to ISAs and SIPPs, which offer significant tax advantages. For example, our flexible Stocks & Shares ISA allows you to invest £20,000 a year with all returns free from capital gains or dividend tax. We also pay leading interest rates on cash balances.
4. Regulation and security — FCA authorisation, FSCS protection, and client money segregation are all essential protections. We meet all of three criteria and remain one of the most well-known and prestigious trading platforms in the UK.
5. User experience — a user-friendly interface, particularly for beginners, is essential. You need a reliable app with an intuitive dashboard, which can be found at our recently launched IG Invest App. But you also need advanced tools when you’re ready for them, from Level 2 data insights to risk management instruments like Stop Losses or Take Profit orders — we offer them all.  
6. Customer service — We offer 24/5 expert customer service support through our online chat, in addition to phone support on 0800 195 3100, from 9am to 5pm Monday to Friday. 

How to systematically compare investment platforms

If you want to make a personal comparison, you could start by defining your investor profile. Are you a long-term wealth builder, a retirement saver, or an active trader? Knowing your goals, trading frequency and risk tolerance will guide your platform selection.

You might then create a shortlist of three to five platforms that offer the investment access and account types you need — and then conduct a cost analysis for each.

This means calculating first-year fees based on your planned trading activity and then projecting long-term costs over five years. You might consider how fees scale with portfolio growth, and whether you might want to make use of a managed portfolio. For example, we offer our IG Smart Portfolio service which compares favourably to our competitors, with fees starting from just 0.50% and capped at £250 per year, per account type.

Remember, you rarely need to put real money in straight away. Sign up for a demo account, test the mobile app, and check the quality of research and customer service. We offer access to the IG Academy completely free of charge, which has helped educate thousands of investors.

Critically, your choice should not only meet your needs today but also scale with your investing journey.

Avoiding costly mistakes when choosing a platform

Many investors make avoidable errors when choosing their platform, often with expensive consequences. One of the most common mistakes is focusing solely on promotional rates rather than looking at the bigger picture. Introductory offers may look attractive, but they often expire within a year, leaving you with high costs — and you may be investing over a multi-decade time horizon.

Another common oversight is ignoring currency conversion fees, especially if you plan to invest significant amounts of capital into US stocks.

Some investors also fail to think ahead. As your wealth grows, your needs will change. A basic platform that works for a beginner may become a limiting later on, potentially forcing an expensive and time-consuming migration.

We aim to offer a clean user experience for beginners with the option to use more advanced tools as you go — including charts, indicators, alerts, news updates, risk management tolls and investment calculators.

Lastly, spreading your investments across too many platforms can be both more expensive and harder to track. You might consider consolidating your investments across two or three platforms at most.

Understanding the UK platform landscape in 2025

The investment platform market in the UK has rapidly changed since the pandemic, creating both opportunities and new challenges for investors. One of the biggest shifts is the rise of commission-free trading — for example, we offer zero-commission trading on all UK shares, and most global markets.

While this has driven costs down, investors must still be careful when it comes to FX fees or premium service tiers. However, it’s also worth considering that you want your long-term platform to have a workable business model, as many newer companies which focus on growth instead of stability eventually fail.

Platforms are also becoming far more tech enabled. Mobile-first design, AI-powered insights, and streamlined dashboards are increasingly common, so there is no need to settle for an outdated user experience.

In addition, the FCA has recently introduced stricter rules on transparency, fee disclosures, and platform solvency, which ultimately benefits consumers — so it’s important to make use of this information when making a choice. 

How to migrate platforms without disrupting your portfolio

If your current platform no longer meets your needs, switching doesn’t have to be difficult, provided you plan carefully. Start by opening an account with your new platform, and testing its functionality with a small deposit.

Once you’re sure you’re happy, you can start the transfer process. In many cases, an in-specie transfer (where your existing investments are moved without being sold) is the most efficient and tax-friendly method.

Cash transfers are also possible, though they involve selling and repurchasing assets, which may have capital gains tax implications. It’s crucial to time your move strategically, especially with ISAs, to preserve tax advantages — if you have any questions or concerns, then calling customer support is often worth the time.

Migrating fully typically takes a few weeks, during which you should monitor its progress and check that all assets arrive intact. And once the migration is complete, remember close your old account to avoid unnecessary fees.

If you don’t need to migrate and just want to get started, the easiest way is with our IG Invest app. You can download it from the Apple App Store or Google Play Store and sign up in just a few minutes.