I suggest you read the review from beginning to end; however, you can use the links below to jump to key sections of the review.
- How does InvestEngine work?
- InvestEngine features/key features
- How much does InvestEngine cost?
- Is InvestEngine safe?
- Alternatives to InvestEngine
- Is InvestEngine any good?
InvestEngine features/key features
InvestEngine offers a number of key features:
- Free DIY investing service (no platform fee) - When you build and manage your own ETF portfolio there are no dealing fees, platform fees or set-up charges. ETF costs apply.
- Managed Portfolios - This service is currently unavailable
- Flexible ISA account - InvestEngine allows you to invest tax-free via a flexible Stocks and Shares ISA. Tax treatment depends on your personal circumstances, which may change.
- Pension (SIPP) - InvestEngine also offers a low-cost personal pension. In December 2024, InvestEngine removed its 0.15% SIPP fee.
- Fractional investing - Invest as little as £1 in any of its ETFs, no matter the share price, giving investors access to even the highest priced ETFs
- Savings Plan - Autoinvest a chosen amount into your portfolio monthly. Minimum investment of £50 per month.
- Access to 830+ ETFs - Including ETFs from Vanguard and iShares.
- Business accounts - InvestEngine allows business owners to invest cash held within their companies.
- App - An app is available on Apple App Store and the Google Play Store.
- One-click portfolio rebalancing - An innovative ability to rebalance your DIY portfolio back to your predetermined ETF allocations with a single click.
- Automatic portfolio rebalancing when adding/withdrawing lump sums - Another innovative feature is that if you request to add or withdraw funds from your DIY portfolio, InvestEngine implements the instruction while trying to maintain your portfolio’s investment allocation.
- Smart orders - Rather than having to manually calculate and place individual ETF trades, the system automatically works out the combination of trades required to invest your new cash in line with your chosen allocation
- £100 minimum investment
What is InvestEngine?
InvestEngine is an interesting proposition. Having launched in 2019 it claims to be “smarter, nimbler, far cheaper and more accessible than a normal investment manager”. In reality, InvestEngine is an investment platform that attempts to be a one-stop shop for DIY investors.
Normally investment platforms fall into one of two types. Firstly, there are the large investment platforms such as Interactive Investor* and Hargreaves Lansdown* which specialise in offering a wide range of unit trusts, investment trusts, exchange traded funds (ETFs) and share dealing services that allow investors to build their own investment portfolios. These are the true Do-It-Yourself investment platforms.
Then there are the robo-advice services such as J.P. Morgan Personal Investing, Moneyfarm and Wealthify that offer discretionary managed portfolios at low-cost, usually with low minimum investment requirements. Such services do not offer a large range of individual investment funds or shares, which in part is why they are able to keep costs so low. Some of these so-called robo-advice platforms, or investment managers, go as far as making regulated portfolio recommendations from their limited range of portfolios.
InvestEngine is an interesting proposition because it is a hybrid of the two aforementioned types of platform. It allows investors wanting to take a more hands-on approach to pick their own investments. InvestEngine is able to offer some of the DIY investment options offered by the larger investment platforms such as Hargreaves Lansdown, however, it typically manages to do so at a lower cost (albeit with less investment choice). Coupled with a number of InvestEngine’s innovations there is a sense that InvesEngine is trying to enter what is a competitive market by innovating rather than by simply replicating its competitors.
How does InvestEngine work?
InvestEngine enables investors to build and manage their own investment portfolio themselves. All options are keenly priced, with the DIY portfolio option being free of any platform charge if investing via its Stocks and Shares ISA, SIPP or General Investment Account. ETF costs apply.
While its low-cost charging structure is undeniably attractive to individual investors, business owners can also use InvestEngine to invest without taking cash out of their business. This is another feature that sets InvestEngine apart from its competitors.
Free DIY portfolios (ETF costs apply)
As stated, InvestEngine also allows customers to build and manage their own portfolios from a selection of over 830 ETFs. The list includes ETFs from the likes of UBS, Vanguard, HSBC, iShares, Xtrackers and L&G. The DIY portfolio’s user interface is straightforward to use, if a little basic, but it’s the fact that there is no account fee, dealing charge or set up fee that will grab most new and experienced investors’ attention. The absence of any platform fee and no upfront charge makes it an incredibly cheap way to build a DIY ETF portfolio, albeit from a limited choice of ETFs. Again, I compare the costs of building a DIY investment portfolio on InvestEngine against other investment platforms later in this article.
InvestEngine managed portfolios
InvestEngine’s Managed Portfolio service is temporarily unavailable to new customers. It has stated it is currently making improvements to its portfolio-building questionnaire. Existing managed portfolio holders and the ongoing expert management of those portfolios are unaffected, and the DIY service remains fully open to new investors
InvestEngine Savings Plans
InvestEngine launched its savings plans in June 2023 which allows investors to regularly invest specific amounts into any one of its 830+ ETFs, benefiting from pound-cost averaging. In theory, this means you could decide to invest your full £20,000 annual ISA allowance by setting up a regular monthly direct debit of £1,666. The feature also allows customers to invest in fractional shares ensuring every penny of their chosen amount is invested each time. In order to use the savings plan, you'll need to agree to a minimum £50 monthly direct debit, after the initial investment of £100.
How to set up an InvestEngine account
InvestEngine’s sign-up process is quick and straightforward. While the minimalistic design won’t win any design awards it provides a clean and easy user journey. When you sign up you will be initially asked to choose whether you want to invest as an individual or a business, the latter plugging a gaping hole in the online wealth management landscape. Most digital wealth managers only offer accounts for individuals.
As an individual investor you are then asked whether you want to create your own Free DIY portfolio (ETF costs apply). You are then given the option to open an ISA account, Pension (SIPP) or a General Investment Account (GIA). Unlike the GIA, investing via an ISA allows you to benefit from sheltering any profits from income tax and capital gains tax. InvestEngine can also accept transfers from existing Stocks and Shares ISA accounts held elsewhere.
If you chose to build your own portfolio then you are taken to a tool that enables you to select your desired ETFs from a list of over 830 and then set the percentage allocation for each fund.
How much does InvestEngine cost?
One of the most exciting aspects of InvestEngine's proposition is its cost. There are no exit fees, so if you use InvestEngine and decide you want to transfer your money elsewhere at a later date then you won't be penalised for doing so. We've listed the charges as well as how it compares to the likes of Freetrade, Trading 212, AJ Bell, Vanguard and Interactive Investor* below:
DIY portfolio costs
InvestEngine currently doesn’t charge any platform (administration) fee for its DIY investment portfolios for its Stocks and Shares ISA or General Investment Account.
The table below compares the cost of building and running an investment portfolio of ETFs on InvestEngine versus the market-leading DIY investment platforms.
| Charges when investing £10,000 in ETFs | InvestEngine DIY | Freetrade | Trading 212 | AJ Bell | Vanguard Investor | Interactive Investor |
| Account opening charge | FREE | FREE | FREE | FREE | FREE | FREE |
| Monthly platform fee | FREE | FREE | £5.99 | 0.25% p.a. (max £3.50pm) | 0.15% (Capped at £375 per year)
Minimum fee £4 per month for self-managed products |
£5.99 |
| Cost per trade | FREE | Free | £3.99 | £9.95 | FREE | £3.99 |
| Interest on uninvested cash | No | Yes | Yes | Yes | Yes | Yes |
What is the cheapest way to buy Vanguard ETFs?
Vanguard is gaining increasing traction with UK investors because of its low-cost ETFs and unit trusts, so understandably, investors often want to access these low-cost funds as cheaply as possible. Now while Vanguard has its own platform, Vanguard Investor, it is not necessarily the cheapest way to buy and hold Vanguard ETFs, especially since the introduction of its minimum £4 monthly fee for DIY investors. If you simply want to buy Vanguard ETFs then InvestEngine, Freetrade and Trading 212 are the cheapest ways to do this they do not charge platform or trading fees (as shown above).
What is the cheapest way to invest in Vanguard LifeStrategy funds?
InvestEngine does not offer every Vanguard ETF and certainly does not offer the popular Vanguard Lifestrategy funds range, as they are unit trusts. So, if you are looking for a wider choice of Vanguard ETFs and/or to invest in the Vanguard Lifestrategy fund range then you could consider using the Vanguard Investor platform, as it may be the most cost-effective for most people. However, as I highlight in my Interactive Investor review, Interactive Investor is one of the cheapest ways to buy and hold Vanguard ETFs and the Vanguard Lifestrategy funds, within an ISA or SIPP, if you have at least £48,000 invested in Vanguard funds. Interactive Investor also offers access to thousands of investment trusts, ETFs, unit trusts and shares - not just access to Vanguard funds or ETFs.
Is InvestEngine safe?
InvestEngine is authorised and regulated by the Financial Conduct Authority. So any investments held with InvestEngine are covered by the Financial Services Compensation Scheme (FSCS) up to a value of £85,000 should InvestEngine goes bust. Client cash is pooled and held at NatWest Bank Plc.
Alternatives to InvestEngine
For those who want to build their own DIY investment portfolio that contains investment trusts, unit trusts, ETFs or direct shares then Interactive Investor* remains the market leader, even offering their own ready-made income portfolios* (an offering that InvestEngine dropped from its product range in February 2023). Furthermore, you get access to a Junior ISA, pension and a general investment account. Unlike many of its competitors, InvestEngine does not pay interest on uninvested cash held in your account. It essentially retains the interest generated on idle cash to help fund its commission-free model. If you are likely to have large sums of uninvested cash sitting in your investment account, then consider checking out our article 'Which investment platforms pay the highest interest on uninvested cash?'.
If you are looking for a managed ethical portfolio then Wealthify allows you to invest from as little as £1,000. For more ethical options read our article 'Which are the best ethical Stocks and Shares ISAs?'.
If you want a service that provides a regulated off-the-shelf portfolio recommendation, with a performance track record then read our reviews of J.P. Morgan Personal Investing and Moneyfarm.
InvestEngine customer reviews
At present InvestEngine has an excellent rating (4.6 stars out of 5.0) on Trustpilot from over 2,300 reviews. Users have posted reviews saying they like InvestEngine's low-cost charging structure as well as its easy-to-use and uncomplicated website. In addition, many of the reviews are complimentary about the level of customer service provided by InvestEngine.
InvestEngine pros and cons
Pros
- Its Stocks and Shares ISA is 'Flexible', meaning you can replace the amount(s) withdrawn in the same tax year without affecting your annual allowance
- Easy to use app and website
- No platform fee on DIY portfolios for ISA and GIA. ETF costs apply
- Auto invest regular amounts using its Savings Plan feature
- One-click portfolio rebalancing
- Business accounts
- Access to 830+ ETFs
- Can create a portfolio, without obligation to invest
Cons
- No Junior ISA or Lifetime ISA available yet
- Managed portfolios are currently unavailable
- £100 minimum investment is relatively high when compared to the alternatives
- No interest paid on uninvested cash
- Inability to invest in investment trusts or unit trusts, although this is planned.
Is InvestEngine any good?
InvestEngine remains a solid choice for ETF-only investors who want to keep costs to an absolute minimum. The zero-platform fee on DIY portfolios is incredibly hard to beat for ISA and SIPP investors focusing purely on passive ETF investing.
However, the lack of managed portfolios will be a drawback for those who prefer a "hands-off" approach. Furthermore, if you value the ability to earn interest on your uninvested cash or want the freedom to trade individual stocks, platforms like Trading 212, Freetrade or Interactive Investor* may be worth considering.
When investing, your capital is at risk and you may get back less than invested. Past performance doesn’t guarantee future results.
If a link has an * beside it this means that it is an affiliated link. If you go via the link Money to the Masses may receive a small fee which helps keep Money to the Masses free to use. But as you can clearly see this has in no way influenced this independent and balanced review of the product. The following link can be used if you do not wish to help Money to the Masses or take advantage of any exclusive offers - Hargreaves Lansdown. Interactive Investor.
£200 Pension Cashback Offer
Make a qualifying deposit or transfer a pension to our partner Interactive Investor.
- Deposit or transfer a pension of at least £20k and you could earn £200 cashback
- Terms and Fees apply, Capital at risk
- New & Existing customers opening a SIPP
- Offer ends 30th June 2026
Before starting your transfer, check you won't lose any valuable benefits (such as guaranteed annuity rates or a lower protected pension age) and find out what exit fees you might have to pay
