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There is no single best investment platform for every UK investor. The right choice depends on the account you need, the investments you want to hold, whether you want to choose them yourself, and what the platform will cost for your balance and trading habits. In Which?’s 2026 Stocks and Shares ISA comparison, AJ Bell, InvestEngine and Scottish Widows were named Recommended Providers under Which?’s scoring rules—not because they were shown to deliver better investment returns.
What makes an investment platform right for you?
Start with the job you need the platform to do, rather than a league-table position. Check these points in order:
- Account: Does it offer the wrapper you want, such as a Stocks and Shares ISA, SIPP or general investment account?
- Investments: Does its range include the specific types of holdings you want, such as ETFs, funds, shares or investment trusts?
- Control: Do you want to select and manage investments yourself, or have a service build and manage a portfolio?
- Total cost: What will platform, dealing, fund and foreign-exchange charges amount to for your balance and expected activity?
- Service: Does the provider offer the usability, customer support and research features you value?
- Regulatory status: Is the precise legal firm authorised for the service you plan to use?
A platform that lacks the account wrapper or investments you need is not a good fit, even if its headline price or ranking looks attractive.
What the 2026 Which? comparison says—and what it does not
Which? named AJ Bell, InvestEngine and Scottish Widows as Recommended Providers in its 2026 comparison of Stocks and Shares ISAs. Its assessment drew on a January 2026 survey of 3,053 investors who provided 4,146 reviews. Which? says its overall score weighted customer score at 60%, fees at 30% and available assets at 10%. The final customer data was not weighted to represent the target population.
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The results can help compare service, cost and investment choice, but they are not a ranking of investment performance. Which? says it does not analyse returns because customers choose different investments. A provider recommendation therefore cannot tell you whether your investments will rise or outperform another portfolio. Read the methodology and provider descriptions in Which?’s investment platform comparison alongside your own requirements.
AJ Bell
Which? described AJ Bell as having the largest investment range in its reviewed field and noted a £1.50 fund dealing charge. That is a finding within Which?’s comparison, not a claim that the platform is best for every account type, balance or investment strategy.
Rank #2
InvestEngine
Which? described InvestEngine’s self-directed offering as having zero platform and trading fees, with an ETF-only investment range. The limited menu matters: an investor seeking individual shares, funds or investment trusts should check whether those holdings are available before considering the fee headline.
Scottish Widows (formerly iWeb)
Which? reported no account fees and a £5 asset dealing fee for Scottish Widows, and noted a regular monthly plan route to avoid the dealing charge. It also described a broad investment range. These are comparison findings; confirm current terms and the applicable account tariff with the provider before opening or transferring an account.
Rank #3
DIY or managed investing?
DIY platforms
With a self-directed platform, you choose your investments and decide when to buy or sell. This gives you more direct control, but also means you are responsible for selecting holdings and understanding their risks. Compare the asset menu and all applicable charges, not just the platform fee.
Managed services and robo-advisers
A managed service typically asks about your goals or attitude to risk and assigns a portfolio, with less direct choice over individual holdings. This can suit someone who does not want to select every investment, but the service still involves investment risk and its charges need to be compared with those of DIY providers.
Rank #4
- Ideal for Gifting
- Ideal for a bookworm
- Compact for travelling
MoneyWeek’s comparison distinguishes DIY providers from managed services and labels its fee figures correct as of 13 May 2026. The listed charges are a dated snapshot, not a guarantee of today’s tariff; compare the same account type and service before drawing conclusions. See MoneyWeek’s investment platform comparison.
How to compare platform fees fairly
A zero or low headline charge does not necessarily mean the lowest total cost. Platforms use different combinations of percentage-based or flat account charges, dealing fees and other costs. The result changes with portfolio size, transaction frequency, account wrapper and the investments held.
Best Value
- Comes with secure packaging
- Easy to read text
- It can be a gift option
- Platform or custody charge: Find out whether it is a percentage of assets, a flat amount, or different for different account types.
- Dealing charge: Check the fee for buying or selling, and whether regular investing or a monthly plan changes it.
- Underlying fund costs: Funds and ETFs have their own charges in addition to any platform fee.
- Foreign-exchange charge: If you buy investments priced in another currency, check how conversion is charged.
- Wrapper-specific fees: SIPP or other account services may have charges that do not apply to an ISA or general account.
Work out the likely annual total using your expected balance and number and type of transactions. A percentage fee can become more significant as a portfolio grows; a flat fee or dealing charge can matter more for a smaller account or frequent trading. MoneySavingExpert’s provider examples show different pricing approaches, including monthly platform pricing and dealing charges, but the figures depend on their stated assumptions and may change. Use MoneySavingExpert’s Stocks and Shares ISA guide as a comparison starting point, then verify the provider’s live tariff.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Check authorisation and understand the protections
Investment platforms and SIPP operators are among the consumer-investment firms that need Financial Conduct Authority authorisation. Check the exact legal entity—not only the brand name—and confirm that it has permission for the particular service you intend to use. The FCA provides a Firm Checker and the Financial Services Register for this purpose.
Authorisation reduces risk but does not remove investment risk, guarantee an investment, or establish that FSCS compensation or Financial Ombudsman protection will apply to every situation. Check the firm and service details, and do not treat regulatory status as a promise that you cannot lose money.
Keep leveraged products separate from ordinary investing
Some financial-services brands also offer products that are different from buying shares or funds through an investment account. A contract for difference (CFD) lets a customer speculate on price movements without owning the underlying share or asset. The FCA describes CFDs as high-risk and not suitable for all retail consumers.
The FCA says retail CFD safeguards prevent nearly 400,000 people per year from risking more than their original stake and provide £267m–£451m of protection. These are FCA figures about safeguards, not expected returns or a measure of platform quality. A retail customer encouraged to opt up to professional status can lose some protections, so check the product and account status carefully. Read the FCA’s CFD restrictions and consumer guidance separately from your comparison of ordinary investment platforms.
Quick Recap
A practical shortlist process
- Write down your account and investment needs. Specify the wrapper and the asset types you want; rule out platforms that do not offer them.
- Choose DIY or managed. Decide whether you want to select holdings yourself or have a service assign a portfolio based on your circumstances.
- Estimate your actual use. Note your likely balance, how often you will trade, whether you will invest regularly and whether you expect to hold foreign-currency investments.
- Compare total charges on that basis. Include platform, dealing, underlying investment, FX and wrapper-specific fees.
- Check service and permissions. Compare customer support and features, then verify the legal entity and relevant FCA permissions.
- Confirm current terms before acting. Comparison tables are snapshots. Review the provider’s current charges, available accounts and investments before opening or transferring.
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
