Interactive Investor is a broker with more than 25 years of experience in the financial services sector that offers your flat monthly rates that will allow you to make investments regularly without trading fees. Also, the company provides various types of investment and ISA accounts. You will also have access to an excellent app.
If you are a beginning trader or you are already an experienced investor looking to diversify your capital through investment accounts and retirement accounts, Interactive Investor can offer you very good services.
|Ease of Use||8|
|Deposit & Withdrawal Options||8|
|Demo Account & Educational Resources||8|
|Safety & Regulation||10|
What Is Interactive Investor?
Interactive Investor is a UK broker with over 25 years of service that is regulated by the Financial Conduct Authority (FCA). The broker currently manages investment accounts for more than 330,000 clients who can trade stocks, bonds and ETFs with flat fees, a quick and easy signup process and no minimum deposits.
Below you can see in which countries it is possible to open an account with Interactive Investor:
|Aland Islands||Cape Verde||Georgia||Latvia||Norfolk Island||Slovenia|
|Albania||Cayman Islands||Germany||Lebanon||Northern Mariana Islands||Solomon Islands|
|American Samoa||Channel Islands and Jersey||Gibraltar||Liberia||Occupied Palestinian Territory||Spain|
|Anguilla||Colombia||Grenada||Luxembourg||Palau||Svalbard and Jan Mayen Islands|
|Antarctica||Comoros||Guadeloupe||Macao Special Administrative Region of China||Panama||Swaziland|
|Antigua and Barbuda||Cook Islands||Guam||Madagascar||Papua New Guinea||Sweden|
|Armenia||Cote D’Ivoire||Guernsey||Malaysia||Peru||Taiwan (Republic of China)|
|Austria||Cyprus||Guyana||Malta||Poland||The former Yugoslav Republic of Macedonia|
|Azerbaijan||Czech Republic||Haiti||Marshall Islands||Portugal||Togo|
|Bahamas||Denmark||Holy See||Martinique||Puerto Rico||Tokelau|
|Bangladesh||Dominica||Hong Kong Special Administrative Region of China||Mauritius||Republic of Moldova||Trinidad and Tobago|
|Belize||Ecuador||India||Micronesia, Federated States of||Russian Federation||Turkmenistan|
|Benin||Egypt||Indonesia||Monaco||Rwanda||Turks and Caicos Islands|
|Bermuda||El Salvador||Ireland||Mongolia||Saint Helena||Tuvalu|
|Bhutan||Equatorial Guinea||Isle of Man||Montenegro||Saint Kitts and Nevis||Uganda|
|Bosnia and Herzegovina||Estonia||Italy||Morocco||Saint Pierre and Miquelon||United Arab Emirates|
|Botswana||Ethiopia||Jamaica||Mozambique||Saint Vincent and the Grenadines||United Kingdom|
|Brazil||Faeroe Islands||Japan||Namibia||Samoa||United Republic of Tanzania|
|British Indian Ocean Territory||Falkland Islands (Malvinas)||Jordan||Nepal||San Marino||United States|
|British Virgin Islands||Fiji||Kazakhstan||Netherlands||Sao Tome and Principe||United States Virgin Islands|
|Brunei Darussalam||Finland||Kenya||Netherlands Antilles||Saudi Arabia||Uruguay|
|Burkina Faso||French Guiana||Korea||New Zealand||Serbia||Vanuatu|
|Canada||Gambia||Lao People`s Democratic Republic||Niue||Slovakia||Zambia|
Interactive Investor: Pros & Cons
- It is possible to make deposits with various methods.
- Withdrawal and deposit time is fast.
- Has good customer service.
- No withdrawal fees.
- Account opening is fast and totally online.
- The news portal is updated.
- There are demo accounts.
- You have to pay a fixed monthly fee to be able to operate.
- Graphics could be better and there are few customization options.
- The investment platform is very basic.
- The website is a bit cumbersome about the classification of the products that Interactive Investor offers.
- Although the app has good ratings it could still be better.
- The technical analysis tools are very scarce.
- No live chat or 24/7 support.
- Interactive Investor is not publicly traded.
Interactive Investor: Account Types
The company offers several types of accounts that adapt to each need. Take a look at what each of them consists of:
It is a standard investment account that gives you the flexibility to invest on your own terms. There is no upper limit on how much you can invest, and you can withdraw your funds at any time.
It consists of an account to manage personal pension funds, giving you the freedom to manage your investments. You can also have relief available on up to £40,000 of gross contributions.
The SIPP is aimed at clients who have sufficient knowledge and experience in investing to make their own investment decisions and want to actively manage their pension funds.
This is a tax-free savings account that lets you choose where your money is invested. You can invest up to £20,000 a year, in one ISA or several different ISAs.
This type of account is designed for those under 18 years of age to make long-term investments and at the same time enjoy the tax benefits of a retirement account, so it’s a great way to start saving and investing money for your kids. Please note that when the minor turns 18, the junior ISA account will become a standard ISA account. From then on you can access the funds or keep them invested.
Joint Trading Account
It is an investment account where you can make investments as if it were a standard account but that has the benefit of allowing two account holders.
#1 Interactive Investor Fees
To be able to operate with an account at Interactive Investor you must pay monthly flat rates that will allow you to enjoy the following services:
- Free to join or transfer.
- No exit fees.
- Low trade costs.
- Free regular investing.
- No inactivity fees.
Below we will show you the monthly cost of each of the types of accounts offered by Interactive Investor:
Trading Account Fee
This account has 3 different types of plans:
- Investor: £9.99 per month
- Funds Fan: £13.99 per month
- Super Investor: £19.99 per month
SIPP Account Fee
You must pay the Trading Account plan (£ 9.99) plus an additional £10 per month. However, the company throws limited time offers our way on occasions. For example, as of writing this review, you can open a SIPP by 31 July 2020 and pay no SIPP fee until April 2021. This means your service plan fee of £9.99 covers you for all of your investment accounts. Following the offer period, the additional SIPP fee is £10 a month.
ISA And Junior ISA Account Fee
This type of account costs £9.99 a month.
Joint Trading Account Fee
The cost of this account is £9.99 a month.
Interactive Investor offers very good rates and possibilities to save money when trading on its platform. But, you still have to pay monthly flat rates, which is not ideal, especially with the booming popularity of no-comission brokers. Because of this, the broker loses a point in this category, still scoring a respectable 9 out of 10.
Interactive Investor Fees Score: 9/10
#2 Interactive Investor: Signup Process
Creating an account is very simple and fast and it is fully digital, you must do it directly on the platform. When you open an account with Interactive Investor, you will be assigned an account number and a password which provides access to your account(s). You will be required to provide a piece or pieces of identifying information.
It usually takes no more than half an hour to open your account if you currently live in the UK.
Please note that if you do not live in the UK the process is a bit more cumbersome since you will have to contact customer service because it is not possible to verify your account online. For this reason, the broker loses a point in this category.
Interactive Investor Signup Process Score: 9/10
#3 Interactive Investor: Minimum Initial Deposit
To operate with Interactive Investor, it is not necessary to comply with minimum deposit restrictions, which is really neat. But then of course, please note that to use an account you must pay the flat monthly fee, which turns out to be money down the drain if you don’t start trading and making a profit immediately.
Interactive Investor Minimum Initial Deposit Score: 10/10
#4 Platform And Apps’ Ease of Use
The Interactive Investor platform is very friendly and basic. We think that it has a good interface for investors who are beginning in the world of trading. You will find graphing and indicator tools very easy to use and follow. But technical analysis tool options are very scarce for customization. In this sense, if you are a specialized investor, you will need other analysis tools to complement the Interactive Investor platform.
Interactive Investor: App
The features of the Interactive Investor app are very similar to the desktop version. It has a very friendly and intuitive interface. However, there is less content and tools in the app compared to the desktop version.
The Interactive Investor app is very well rated with more than 5.4K ratings and it has a score of 4.4/5, an excellent score for mobile trading applications.
The broker loses 2 point in this category because the technical analysis tool options are very scarce for customization.
Interactive Investor Ease of Use Score: 8/10
#5 Deposit & Withdrawal Options
You can make deposits to your account only from the following countries:
- United Kingdom & Channel Islands
You can fund your account in the following ways:
- Debit card registered in your name.
- Direct debit from a UK bank account registered in your name.
- Electronic transfer from a UK bank account registered in your name.
Withdrawing Money From Your Account
Please note that there are no withdrawal charges in GBP and EUR. Before you can withdraw money by electronic transfer from your account you will need:
- A nominated bank account set up.
- The address registered on your trading account matches the one registered with your receiving bank account.
- If you have just completed a trade and wish to withdraw the funds, you will need to set the withdrawal date once the trade has been settled.
In the following table you can see the specific characteristics when you make withdrawals from the investment platform.
|Currency||Channel||Permitted destinations||Payment time scales|
|Sterling||Online & Phone||UK, Ireland, France, Germany, Spain, Italy, Belgium, Portugal. You must be a resident in the country you hold your bank account in, otherwise they are able to pay into your UK Bank or Building Society account.||a) Next working day if completed instruction received before 2:00 pm. b) Two business days if received after 2:00 pm.|
|Euros||Online & Phone||UK, Ireland, France, Germany, Spain, Italy, Belgium, Portugal. You must be a resident in the country you hold your bank account in, otherwise they are able to pay into your UK Bank or Building Society account.||Next working day if completed instruction received before 2:00 pm.|
The broker loses a point in this category because withdrawals can only be made via bank transfer.
Interactive Investor Deposit & Withdrawal Options Score: 8/10
#6 Customer Support:
Customer service is good and the response is very fast. Usually, they will attend you on the same day in 24/5 support, but there is no live chat. You can access customer support through:
- Email: [email protected]
- Phone: 0345 607 6001
- Mail: For the attention of Customer Services, Interactive Investor, Exchange Court, Duncombe Street, Leeds LS1 4AX
The technical support offers you several alternatives to communicate with the technical advisers. However, the service is only 24/5 and there is no live chat. The ideal scenario would be to have a 24/7 technical support service.
Interactive Investor Customer Support Score: 7/10
#7 Asset Classes
In Interactive Investor, you can invest in many global stocks to choose from across 17 stock exchanges. You can invest directly in stocks, ETFs, funds and more.
The markets where you can operate are:
|United Kingdom||London Stock Exchange (LSE) (including AIM Market); ISDX (formerly Plus) Market (phonetrading only)|
|United States of America||New York Stock Exchange (NYSE); American Stock Exchange (AMEX); NASDAQ OTC (phone sales only for existing holdings); Pink Sheets (sales and phone trading only)|
|Canada||Toronto Stock Exchange; Canadian Venture Exchange|
|Italy||Milan Stock Exchange|
|Spain||Madrid Stock Exchange|
|Sweden||Stockholm Stock Exchange (phone trading only)|
|Switzerland Stock Exchange||SIX Swiss Exchange (phone trading only)|
|Australia||Australian Securities Exchange|
|Singapore||Singapore Stock Exchange|
You can use fixed income as a financial instrument.
Yes. For example, you can trade Lyxor Green Bond (DR) ETF C EUR GBP, iShares Global Clean Energy ETF USD Dist GBP, or S&P 500 ETF, among many others.
While it is true that Interactive Investor has a number of alternatives in most of the financial instruments it offers, unfortunately, you will not be able to invest in gold, currency pairs and cryptos. This factor reduces the diversification capacity of your portfolio.
Interactive Investor Asset Classes Score: 3/10
#8 Referral Program
There are currently no affiliate programs at Interactive Investor. However, we will be attentive to any changes to keep you informed. For this reason it is impossible to be able to assign points in this regard to Interactive Investor.
Interactive Investor Referral Program Score: 0/10
#9 Demo Account & Educational Resources
At Interactive Investor, you will also have the option to open a demo account (paper trading) that will allow you to test your trading strategies without risking real money. In the demo account, you can use the same tools as in the real money account. These types of accounts represent a great opportunity to assess the spread and stability of the platform so that you are safe when opening a real money account.
Interactive Investor offers extensive and interesting educational resources. The educational services that you can access at Interactive Investor are classified into 3 types:
News: You can access relevant and very up-to-date news on the stock market. You can also subscribe for free to receive the main news in your email.
Investment Type: In this section, you can find definitions and discussions on the main financial strategies and assets in the market.
Ideas & Tools: In this section, you will find recommendations and deep analysis of investment ideas that will be very useful for you to make the best decisions. Also, you will find a very useful virtual portfolio when devising strategies.
Interactive Investor Demo Account & Educational Resources Score: 8/10
#10 Safety & Regulation
The services provided by the broker are covered by the Protected Investment Business scheme operated by the Financial Services Compensation Scheme (FSCS). This scheme may in certain circumstances pay compensation to customers if they are eligible and if the regulated firm is unable or is likely to be unable to meet its liabilities to customers including when the firm becomes insolvent. Compensation may be available to eligible investors in respect of protected claims up to a maximum of £85,000 per claimant.
Interactive Investor Safety & Regulation Score: 10/10
Interactive Investor vs. Capital.com
Being a winning trader requires a solid investment plan. Take into account that the stock market is a world that is constantly changing and for this reason your strategies must adapt to the movements and innovations of the market. We recommend that you choose a broker that is your ally and that allows you to fully exploit your profits.
In this sense, this broker must allow you to diversify your portfolio internationally with the range of financial instruments that it offers and that also saves you hundreds of dollars in commissions. In this section, you will find a comparison between Interactive Investor and Capital.com. After an in-depth market study, we consider that your best ally is Capital.com for the following reasons:
Interactive Investor has a good number of financial instruments that you can invest in. However, Capital.com offers you several possibilities because on its investment platform you will be able to access a greater number of CFDs. This feature is really important because with Capital.com you will be able to have a greater capacity for diversification when building your investment portfolios.
A Better customer support
You can call Capital.com at +44 20 3870 3087 or email their support team at [email protected]. You can also visit the Capital.com website and click on Contact Us for country-specific options and to enter a live chat with a Capital.com support agent. Their support team currently supports 13 different languages.
Capital.com Has Referral Program
Interactive Investor does not have a Referral Program that allows you to earn bonuses so that you can gradually increase your capital. In contrast, Capital.com offers you a Referral Program that will allow you to earn $25 USD for each person you invite to invest in this wonderful investment platform.
Interactive Investor Review In Summary
- Interactive Investor is a UK broker with over 25 years of service and is regulated by the Financial Conduct Authority (FCA).
- The company provides various types of investment and ISAs accounts.
- Although the company has free commissions you must pay a flat monthly fee to be able to use investment accounts within Interactive Investor.
- Creating an account is very simple and fast and it is fully digital.
- To operate with Interactive Investor, it is not necessary to comply with minimum deposit restrictions.
- The features of the Interactive Investor app are very like the desktop version.
- In Interactive Investor, you can invest in many global stocks to choose from across 17 stock exchanges.
- At Interactive Investor, you will also have the option to open a demo account.
RECOMENDACIÓN PARA INTERACTIVE INVESTOR CON SU BOTÓN.
We think that the Interactive Investor platform could be better in several aspects. For example, it could improve the Asset class, customer support and referral program. Also, the minimum amounts are high. In all these points Capital.com is superior. If you are a beginner or an experienced trader you will see that this wonderful broker is an ally that will allow you to fully exploit capital gains