It can be tricky to navigate the broad range of different UK investment platforms to find the one that best suits you. In this article we will compare what is on offer from InvestEngine and Interactive Investor to help you narrow down your choice. InvestEngine* aims to combine the key features of a robo-investing platform with the flexibility of a DIY investment platform, while Interactive Investor* recently added a managed account option to its DIY proposition and has grown into a popular platform that now ranks as one of the biggest in the UK. Both can be a cost-effective way to build a diverse portfolio, including investing in Vanguard ETFs.
We also show you how you could get a welcome bonus of up to £50* with InvestEngine and where to find the latest new customer offers when you open a new account with Interactive Investor* (capital is at risk).
InvestEngine vs Interactive Investor - which is better?
| InvestEngine* | Interactive Investor* | |
| Services | 10 Managed growth portfolios
Free DIY investing service with access to more than 690 ETFs Auto-invest savings plan |
Company account
Pension trading account Model portfolios Quick Start funds |
| Products | ISA, GIA (General Investment Account), SIPP | ISA, General Investment Account, Junior ISA, SIPP
Trading account |
| Minimum investment | £100 (Minimum investment of £10 per week for auto-invest savings plan) | No minimum |
| Platform fees | 0.25% per annum managed platform platform charge (DIY is free)
0.15% - 0.25% ETF annual charge (the average ETF charge is 0.16% pa within growth portfolio according to InvestEngine) 0.07% market spread (InvestEngine estimate) |
£4.99 per month (Investor essentials - Invest up to £50,000)
£11.99 per month (Investor - Invest over £50,000) £19.99 per month (Super Investor - Invest over £50,000 plus additional free trades and up to 5 friends and family) £5.99 per month (Pension Essentials - Invest up to £50,000 in a SIPP) £12.99 per month (Pension Builder - Invest over £50,000 in a SIPP) No charge for a Junior ISA on the Investor plan |
| Money to the Masses Offer | Invest at least £100 with InvestEngine via this link and receive a welcome bonus of up to £50*. The bonus will be paid once you invest at least £100 in your portfolio (Terms and conditions apply. Capital at risk). | New offers every month. Check out our Interactive Investor review for the latest offer. |
| Customer reviews (Trustpilot) | 4.6 out of 5.0 | 4.7 out of 5.0 |
InvestEngine vs Interactive Investor - services
InvestEngine* is essentially a hybrid of a robo-advice service and a DIY investment platform, as it offers 10 diversified managed ETF portfolios and allows DIY investors to pick their own investment funds too. Its robo service is similar to what is offered by competitors Nutmeg and Moneyfarm*, though the scope of DIY options falls short of the investment range on platforms such as Hargreaves Lansdown*, albeit at a lower price.
Interactive Investor* offers a wider investment choice, plus research tools, guides, top-fund picks and model portfolios that will be especially useful for beginners. It also launched a managed ISA in May 2024 that offers two investment styles ('Index' and 'Sustainable') with five levels of risk each, meaning there are 10 portfolios to choose from. In addition, Interactive Investor offers a Company Account, which allows limited companies to trade, and a pension trading account, which is able to hold a greater variety of asset classes than are available through a standard SIPP.
InvestEngine vs Interactive Investor - products
Both InvestEngine* and Interactive Investor* offer stocks and shares ISAs, General Investment Accounts and pensions, including SIPPs. Interactive Investor also has a Junior ISA. This is the minimum range of wrappers you should expect from an investment platform, but the absence of a Lifetime ISA (and Junior ISA for InvestEngine) means investors needing a wider range of accounts could look at Hargreaves Lansdown*, which offers both. If you need more information on whether a LISA or JISA are essential for your investment plans, check out our article on the best Junior ISAs and our guide to Lifetime ISAs.
It is worth noting that in addition to the main wrappers, Interactive Investor also has a trading account that lets users invest in more than 40,000 UK and global stocks, funds, investment trusts and ETFs while minimising exchange costs, as investors can hold up to nine different currencies.
InvestEngine vs Interactive Investor - minimum investment
The minimum investment if you want to put in a lump sum is £100 with InvestEngine* or at least £10 per week for its auto-invest savings plan.
Interactive Investor* doesn't require a minimum lump sum to open an account, though its free regular investment service requires a direct debit of at least £25 per month. This can make Interactive Investor a good option for new investors looking to try it out without an initial large deposit, however the flat monthly fee of at least £4.99 – plus a the £3.99 standard dealing charge – can make it a relatively expensive option for those with smaller pots.
InvestEngine vs Interactive Investor - fees
InvestEngine* only charges platform fees for its managed portfolios, currently set at 0.25% per annum. This is cheaper than competitors Nutmeg and Moneyfarm*, though there is an ETF annual charge and a market spread, which is the difference between an ETF buy and sell price. According to InvestEngine, the average ETF charge is 0.14% per annum within its 'growth' portfolio and the market spread is estimated to be 0.07% per annum on its ETFs. This brings the total cost of a managed InvestEngine portfolio to approximately 0.46% per annum.
There is no platform fee on InvestEngine's DIY investment portfolios with Stocks and Shares ISA or General Investment Account, however, investors will still pay ETF charges and a market spread totalling an average of 0.21%. Those choosing to invest in a DIY SIPP will have to pay an annual fee of 0.15% - though this is capped at £200 per year - on top of the managed SIPP portfolio fee of 0.25%.
The Interactive Investor* fee structure is completely different as it centres around a monthly subscription fee, rather than a percentage charge. You will need to pay £4.99 a month for the 'Investor Essentials' plan (upgrades to Investor plan if portfolio is over £50k), £11.99 a month for the 'Investor' plan and £19.99 a month for the 'Super Investor' plan. There are additional trade fees to consider too, so you will need to think about how many changes you are likely to make to your portfolio. Currently, the standard trading charge is £3.99 across Interactive Investor's different plans, though one free trade per month is included with the 'Investor' plan. There are full details of the trading costs in our full Interactive Investor review.
If you want to buy Vanguard ETFs then InvestEngine and Interactive Investor are two of the cheapest ways to do this, though InvestEngine does not offer every Vanguard ETF or the Vanguard LifeStrategy funds range. Interactive Investor does give access to Vanguard LifeStrategy funds, within an ISA or SIPP.
InvestEngine vs Interactive Investor - customer reviews
InvestEngine* has a Trustpilot score of 4.6 out of 5 based on more than 1,100 reviews. Approximately 80% of reviewers rated it five stars, while 4% rated it with one star. Happy customers mentioned the ease of use and simplicity of the platform. The few negative reviews reference poor customer service.
Interactive Investor* has a Trustpilot score of 4.7 out of 5.0 based on more than 25,000 reviews. Approximately 82% of reviewers gave five stars, while 6% gave one star. Customers who rated it five stars wrote about the high level of customer service, while those who rated it at one star complained about technical issues and unexpected fees.
Summary: InvestEngine vs Interactive Investor
Both InvestEngine* and Interactive Investor* combine DIY investing with managed portfolios, with the main head-to-head concerning range and cost. Interactive Investor offers a wider investment choice, plus research tools, guides, top-fund picks and model portfolios, but InvestEngine may well work out as the cheaper option for those without a huge pot to invest.
The free DIY option from InvestEngine will likely appeal to beginners looking to explore investing with a small initial lump sum (that has to be at least £100), though the sheer size of Interactive Investor and the weight of its 25,000 reviews may tip the scales for novices looking for a stronger name.
Ultimately, the best option for you will come down to how you intend to invest your money and which features of the two platforms will most help or hinder your investment journey. For more details on both options, read our InvestEngine review and our Interactive Investor review.
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 - AJ Bell, Interactive Investor, Hargreaves Lansdown
