Axa Stocks and Shares ISA

Axa Stocks and Shares ISA

AXA Self Investor launched in 2012 to help customers take control of their own investments through an online service. They are authorised and regulated by the Financial Conduct Authority (FCA).

Choosing a Stocks and Shares ISA

The investments you place into an ISA will be sheltered from capital gains tax and any further income tax making them a savvy way to see returns on your money.

By using an investment ISA to put away a little money each month, or invest some spare cash, you could possibly receive a higher return on your savings when compared with a standard ISA. This is because your capital depends on market growth. However, this means there is an element of risk involved and you could end up with less than you originally invested. Investment ISAa are viewed as long term investments for a minimum of 5 years.

A Stocks & Shares ISA is a tax-efficient and flexible way to invest in the market. You are able to put your annual tax allowance in to investments, innovative finance or cash ISAs, or any mixture of the three.

Axa Stocks and Shares ISA Review

With an easy to navigate portfolio, Axa makes it easy for people new to investing.

Features:

1. A range of international and domestic investment choices
2. Invest from as little as £50 per month or a lump sum of £500 or more
3. Earn a variable rate of interest on any cash held in your ISA while you decide where to invest
4. Potential for higher returns than a Cash ISA over the long term
5. Take control of your own investments through our online service
6. UK based customer support team
7. You can keep cash in your account until you’re ready to invest
8. 24/7 access to your account online or using their app

The value of your Stocks and Shares ISA can go down as well as up, unlike a Cash ISA. This means you could get back less than you invest. As tax benefits may change in the future. There's no minimum investment period but you should consider investing in a Stocks and Shares ISA for 5 years or more.

Transferring an ISA

AXA allows transfers in to their account. They also guarantee to cover up to £750 in ISA exit fees, including:

1. Interest penalties for transferring out of a fixed term cash ISA before the end of term
2. Account closure fees
3. Fees to transfer out of a stocks and shares ISA
4. Penalties for transferring a Cash ISA

It’s important to remember that ISA accounts do not have to permit transfers in. However, ISA providers do have to permit account holders to transfer their account to another ISA, this can be with either the same provider or a different one. Some ISAs will also impose a penalty charge for transferring out.

This means that while it can be beneficial to periodically check if you could get a better deal elsewhere it is wise to first consider if any charges you would incur would actually negate the potential benefits of switching ISA.

By using Axa, you can avoid these kind of charges but still transfer.