Interactive Investor Review
Interactive Investor is a regulated UK broker offering online trading across a range of financial instruments. The platforms and funding options are limited compared to other online brokers whilst there are no educational materials.
Interactive Investor Review, Pros & Cons
- Financial Services Compensation Scheme (FSCS)
- Wide choice of investments
- Ethical investment choices
- Limited educational resources
- Forex & CFDs offered through other brokers
- No MetaTrader platform
- Restricted leverage
- Limited funding options
In this detailed Interactive Investor review, our online broker research team have covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
Interactive Investor Overview
Interactive Investor is a UK online broker that provides a range of direct-to-investor financial services with competitively priced investing starting from £9.99 a month via their online trading platform where you can conveniently manage shares, funds, SIPPs, ISAs and more.
Founded in 1995, Interactive Investor is headquartered in Manchester, United Kingdom. They have won multiple awards including for customer service and alongside a range of investments also offer clients market insights, trading tips, analysis tools and more.
Interactive Investor claim to have over 300,000 investors and over £30billion of client assets under administration. They are FCA regulated and have full FSCS protection.
Interactive Investor Regulation
Interactive Investor Services Limited is authorised and regulated by the Financial Conduct Authority (FCA) in the United Kingdom. They are also a member of the Financial Services Compensation Scheme (FSCS). The FSCS protects eligible customers where an authorised financial services firm fails to meet their financial obligations. The compensation can be up to £85,000.
Interactive Investor Countries
Interactive Investor is primarily for investors located in the United Kingdom. Some Interactive Investor broker features and products mentioned within this Interactive Investor review may not be available to traders from specific countries due to legal restrictions.
Interactive Investor Platforms
The flexible accounts offered by Interactive Investor enable users to buy, sell and hold investments via the secure platforms provided.
You can stream real time level 2 live pricing data and create your own personalised custom workspace on the award winning Quotestream platform. There is a comprehensive range of order types to choose from which can help you maintain control over your positions even when you are unable to monitor prices.
The mobile application allows users to gain secure access to their accounts to monitor portfolios, conduct market research and trade, all whilst on the go and conveniently from within the palm of your hands. The mobile app is compatible with iOS/Android devices and requires an internet connection to access.
Interactive Investor Platform Features:
- Funding – deposit and withdraw from your trading account
- Trading – place, manage and exit trade positions
- Real time price quotes – view prices of multiple instruments
- Chart analysis – conduct technical analysis across various charts and timeframes
- Newsfeed – latest market news direct to the platform
- Watchlist – create customised watchlists
- Markets overview – quickly see an overview of the markets as a whole
- Secure – encrypted data to help keep your personal information safe
- Messaging – contact support directly through the platform
- Easy login – face and touch ID for a quick and secure login
Interactive Investor Trading Tools & Education
Interactive Investor provide some investing insight and ideas including:
- Quick Start Funds – A selection of funds selected by their experts that give a quick way to start investing
- Interactive Investor Super 60 – A range of different types of investments selected by experts
- Investing Hubs – Give further insights into various investment opportunities
- Interactive Investor ACE 30 – This is a list of ethical investments
- Trading Tips – Range of ideas for different investment goals
- Free Research – The free research account lets you create virtual portfolios, have discussions and receive newsletters
The brokers official website has frequently updated news and analysis articles, including videos. These are very articulate and professional, covering a variety of topics across the financial and investment industry. You can register to receive daily market commentary from the in-house editorial team. There is however a lack of educational material provided.
Interactive Investor Instruments
Interactive Investor have vast array of investment choices including Shares, Funds, Investment Trusts, ETFs, Bonds, VCTs, Options, Futures, Spread Trading and CFDs.
- Shares – Direct access for investing in 40,000+ UK, US and international shares on 17 global exchanges including exchanges in North America, Europe, and Asia
- Funds – Over 3,00+ funds to choose from with a range of tools and filters to help find a fund that matches your requirements
- Investment Trusts – Invest in shares, bonds, property and other assets according to your individual goals
- ETFs – Exchange Traded Funds (ETFs) are collective funds that trade just like shares and track the movements of an index or asset
- Bonds & Gilts – Fixed income investments issued normally at £100
- VCTs – Selection of newly issued and existing Venture Capital Trusts (VCTs)
- Spread Trading & CFDs – Speculate on if an instruments price will rise or fall, including global shares, indices, forex, commodities, etc
It should be noted that spread trading and CFDs are provided by Interactive Markets, a trading name of GAIN Capital UK Limited. GAIN Capital UK Limited are authorised and regulated by the Financial Conduct Authority in the UK with FRN 113942.
Interactive Investor also financial spread trading is also provided by London Capital Group Ltd (LCG) and derivates trading by Saxo Capital Markets UK Ltd.
Spread betting, CFD and Forex Trading are leveraged products and your capital is at risk. A large percentage of retail investor accounts lose money when trading CFDs with Interactive Markets. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Interactive Investor Accounts & Fees
Interactive Investor offers a choice of service plans starting with a monthly fee of £9.99 (multiple accounts allowed) and will even credit back £7.99 (available for 90 days) that can be used to buy or sell an investment of your choice. The commission rate for UK and US trades is £7.99 and £0.99 for regular investing and dividend reinvestment.
There is no charge for joining or transferring cash and investments whilst there are also no costs if you wish to leave. Account holders also get a free online subscription to the Money Observer and Moneywise publications.
- Trading Account – The standard account for trading that allows you to invest in global markets with flexibility
- Investor – The standard plan for investors from £9.99 a month with £7.99 for fund/UK trades
- Funds Fan – This account is for those who are looking to build a portfolio of funds, with independent select lists and analysis tools. £13.99 a month fee, Funds & investment trusts £3.99, UK Share trades £7.99
- Super Investor – This is a premium plan that is specifically designed for the more frequent investors and has competitive trade commissions. £19.99 per month. All UK trades (including funds) £3.99, US Share trades £4.99
- ISA – This is a tax-free savings account with limited allowance
- SIPP – A self-invested personal pension account to invest for the future. Incurs an extra £10 per month admin fee
As broker fees can vary and change, there may be additional fees that are not listed in this Interactive Investor review. It is imperative to ensure that you check and understand all of the latest information before you open a Interactive Investor broker account for online trading.
Interactive Investor Support
Customer support is provided via telephone and email. Telephone support is available Monday – Friday: 07:45 – 17:30 BST/GMT or Monday – Friday: 17:30 – 21:00 BST/GMT for international trading calls only. There is a dedicated help centre that can provide instant answers to some common queries. It would be more advantageous for some if they offered online live chat.
Interactive Investor Deposit & Withdrawal
The methods for depositing and withdrawing funds from your account are limited to bank transfer and credit/debit card. They do not have any online payment systems such as Neteller and Skrill. Please note that some methods may only be available to specific countries and not all are available for both deposit and withdrawal.
Some fees may be charged when using certain payment methods. Withdrawal requests are processed within the same day if received before 2pm BST/GMT. The withdrawal time can vary depending on the payment provider and method. Bank transfers may take a few business days to clear. Some payment systems may have transaction limits, restrictions, and requirements.
Interactive Investor accounts can be opened in 9 different currencies including GBP, EUR, USD, CAD, AUD, SGD, HKD, CHF and SEK. The different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency.
Interactive Investor Account Opening
Opening an account takes around 10 minutes and requires you to submit your personal information, address details, debit card details and you will need you National Insurance number to hand. You will need to choose your required account type and upload some documents for verification which can take a few days to complete.
Interactive Investor Summary
Interactive Investor has transparent and competitive pricing structures whilst offering a wide selection of investments alongside professional trading tools. However, the platform is limited and there is a distant lack of educational materials. Furthermore, the forex and CFD offering is offered through different online brokers who you could open an account directly with if they are the services that you require.
The price and value of investments and their income fluctuates: you may get back less than the amount you invested. If you are unsure about the suitability of a particular investment or think that you need a personal recommendation, you should speak to a suitably qualified financial adviser. Please note, the tax treatment of these products depends on the individual circumstances of each customer and may be subject to change in future. If you are uncertain about the tax treatment of the products you should contact HMRC or seek independent tax advice.