Platform fees have a surprisingly large impact on long-term returns. At 0.45% on a £100,000 portfolio, you’re paying £450/year — money that could be compounding for you instead.
Here’s a quick-reference guide to the cheapest platforms at different portfolio sizes, assuming you invest in funds and trade monthly.
Under £10,000
Winner: InvestEngine or Trading 212 (£0/year)
Both charge nothing for their platform fee. InvestEngine focuses on ETFs; Trading 212 covers ETFs and shares. If you’re starting out, these are hard to beat.
Freetrade’s GIA (general investment account) is also free. Their ISA costs £5.99/month — hard to justify on a small portfolio.
£10,000–£30,000
Winner: Vanguard (approx. £15–£45/year)
Vanguard charges 0.15% capped at £375/year. On a £20,000 portfolio that’s £30/year — cheaper than any flat-fee platform.
HL and Fidelity charge more (0.45% and 0.35% respectively) but are still relatively affordable at this size.
£30,000–£80,000
Winner: varies — use the calculator
This is the transition zone. Flat-fee platforms start to become competitive. At around £50,000, Interactive Investor’s £143.88/year ISA fee begins to undercut HL’s percentage-based charge.
Use our calculator with your specific portfolio size.
£80,000–£250,000
Winner: Interactive Investor or Freetrade
At this range, percentage-based fees are painful. HL charges £360–£1,125/year on a £80k–£250k portfolio.
ii at £143.88/year is dramatically cheaper. Freetrade’s ISA at £71.88/year is cheaper still — though its investment range is more limited.
Over £250,000
Winner: Interactive Investor (£143.88/year)
Above £250,000, HL’s fee steps down to 0.25% — still thousands of pounds annually. ii remains flat at £143.88/year regardless of portfolio size.
AJ Bell’s £42/year cap applies to ETFs and shares only (not funds), so check which asset type applies to you.
The quick reference table
| Portfolio | HL | AJ Bell | ii | Vanguard | InvestEngine |
|---|---|---|---|---|---|
| £10,000 | £45 | £25 | £144 | £15 | £0 |
| £25,000 | £113 | £63 | £144 | £38 | £0 |
| £50,000 | £225 | £125 | £144 | £75 | £0 |
| £100,000 | £450 | £250 | £144 | £150 | £0 |
| £250,000 | £1,125 | £625 | £144 | £375 | £0 |
| £500,000 | £1,500 | £625 | £144 | £375 | £0 |
Assumes funds, ISA, monthly trading. Figures are approximate — verify at source.
Fee estimates based on published rates as of April 2026. Always verify current fees directly with your provider.