Top 5 alternatives to Fidelity

Fidelity* is one of the UK's largest investment platforms and currently has around 1 million UK customers. It offers a good range of products and is particularly good for those looking to invest in a Junior ISA or Junior SIPP, as it doesn't charge a platform fee for Junior accounts. There are, however, a number of other investing scenarios where it may be beneficial to look at an alternative to Fidelity. In this article, we look at 5 of the best alternatives to Fidelity, giving our reasons as well as highlighting any cashback offers and deals available.

Best all-round alternative to Fidelity

- Interactive Investor*

Regular cashback deals. Check out our Interactive Investor review  for more information

Cheaper than Fidelity if investing more than £17,000

Subscription plans priced at £4.99, £11.99 or £19.99 per month (No annual management charge)

Pay only £3.99 per trade compared to £7.50 with Fidelity

Check out our Interactive Investor review 

Best alternative to Fidelity if investing in ready-made portfolios

 - Bestinvest*

Annual charge on its 'smart' and 'expert' ready-made portfolios of 0.20% up to £500,000 and 0.10% up to £1m with no extra charge over £1m (compared to 0.35% for most of Fidelity's managed 'ready-made' funds)

No dealing charges for funds

Free coaching sessions with a qualified financial planner

Check out our full independent Bestinvest review

Best alternative to Fidelity if investing via an app

 - Aj Bell Dodl*

App-only platform ensuring it is user friendly and simple to use

Annual charge of just 0.15% compared to 0.35% with Fidelity (if investing less than £25,000)

No fees for buying and selling investments

Check out our full independent Aj Bell Dodl review

Best alternative to Fidelity if investing in shares

- Freetrade*

Get a FREE SHARE worth up to £100* when you deposit at least £50 into a Freetrade ISA (capital at risk) or Freetrade basic account (capital at risk)

No charge for trading shares (Fidelity charges £7.50 per trade)

Simple user-friendly app

Check out our full independent Freetrade review

Best alternative to Fidelity for holding cash

 - Bestinvest*

Good for investors who want to get the best return on their cash

Pays 4.35% interest on all uninvested cash (versus Fidelity's 3.45% on cash in an ISA and 3.65% on cash held in its SIPP)

Offers a flexible ISA meaning you can re-deposit any cash you have withdrawn from your account without it contributing towards your annual limit

Check out our full independent Bestinvest review

If you want to secure the best savings rates on the market, then check out our article, 'Best savings accounts in the UK'.

Summary

Fidelity* is a well-known name when it comes to investing and it has over 1 million UK investors. It is rated as 'Great' on independent customer review site Trustpilot scoring 4.1 out of 5.0 from over 4,000 customer reviews. Many of the positive reviews mention that the service is professional and that the level of customer service is good. Of the negative reviews, some customers have mentioned issues with the website and app and some are unhappy with the fees, saying they could invest cheaper elsewhere.

Fidelity is likely to be a good option for investors that prioritise investing for their children. Those seeking a platform that offers a fixed-fee model (cheaper if investing £17,000 or more) may want to take a look at interactive investor* and those looking for flexibility and the best interest rate on uninvested cash may want to consider Bestinvest*. If you are still not sure which is the best platform for you, check out our article 'The best investment platform: Which is best for you?'.

 

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. 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, AJ Bell, Fidelity, Bestinvest, Freetrade