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Aug 2020

Cheapest Share Dealing ISAs - Our Picks 2020-2021

Cheapest Share Dealing ISAs - Our Picks 2020-2021

Using your ISA allowance to open a Share Dealing account can be a great option for a keen investor - however, choosing the right one (and the most cost-effective one) is an important decision. So we've put together our top picks for 2020/2021 to help you pick the one that's right for you. 

What is a Share Dealing ISA?

A Share dealing ISA is a type of ISA which allows you to invest in a variety of different share types e.g. company shares, exchange traded funds (ETFs), investment trusts and more.

Because this is an ISA, this means that any returns you make on these are safe from the tax man – sheltered from both income and capital gains tax.

Why Should I get One?

If you’re a keen investor and are looking to diversify your portfolio, then a share dealing ISA could be just the thing for you to invest, diversity and keep your money safe from the taxman.

It’s also worth highlighting that this level of tax free returns are unique to an ISA account, and as such there is government regulation on the amount each individual can put into any ISA account.

If you have not used up your £20,000 allowance – or are looking to diversify the spread of your allowance – then you need to use it or lose it: so by opening a share dealing ISA, you can achieve these two goals in one fell swoop.

How do you choose a Sharedealing ISA platform?

When choosing a Share Dealing ISA platform, you’ll want to consider the following….

1. How much trading do you want to do?

If you’re an active, confident investor, you’ll want to be looking for platforms which offer the best possible research and lower fees for a high volume of buying and selling shares. However, if you’re not wanting to be trading a huge amount, this is less of a key consideration.

2. Is all you want to do is buy and sell shares?

Make sure you know what your provider is offering in terms of services regarding buying and selling shares - if you want to have the flexibility: some platforms don’t offer both.

3. Do you just need an ISA account?

You may want to look for a platform that can manage other types of account. Most platform providers will offer a general share trading account. However not all will offer a personal pension or SIPP account: also a junior ISA or Lifetime ISA account may not be offered.

4. How user-friendly is your chosen platform?

The criteria which is often very important to most customers is how easy to use your platform is, including how good their customer service is. Do some research into the reviews of other customers, as this can often be a helpful resource.

Many investors are prepared to pay a bit more in fees for a platform that offers really useful apps and services.

5. How much will your chosen ISA cost?

We’ve put this at the end of our list to highlight an important fact: you shouldn’t make this decision just on cost. The cheapest option isn’t always the best, and could end up costing you more in the long run (not to mention the time you may need to spend in order to try and change or transfer).

However, cost is still an important part of decision making. It’s important to look at both fees and returns rates when weighing up your options.

Our Top Three Picks 2020-2021

Interactive Investor Share Dealing ISA

Key benefits:

  • A fixed fee service, which suits frequent traders very well
  • £11.99 pm fee (with one free trade)
  • US trades at £4.99
  • Options of over 40,000 stocks – both UK and global
  • Trading across 17 stock exchanges
  • Apple and Android Apps supported for easy of trading
  • Estate portfolio management for a low, fixed price of £20 (+VAT)

Frequent traders can trade from…£3.99

Standard traders can trade from…£7.99

Hargreaves Lansdown Share Dealing ISA

Key Benefits:

  • Online share dealing options at £11.95 per trade
  • Lower cost options such as £5.95 for frequent traders
  • £1.50 cost for regular savings
  • Trade shares by phone or post, if preferable

Frequent traders can trade from…£5.95

Standard traders can trade from…£11.95

IG Share Dealing ISA

Key Benefits:

  • No commission on US share trades
  • £3 on UK Share trades (when trading three or more times a month)
  • No administration fee
  • No transfer fee
  • Quarterly custody fee of £24

Frequent traders can trade from…£3.00

Standard traders can trade from…£8.00

Read more about Share Dealing ISAs here. 

Share Dealing ISAs

Share Dealing ISA

from Interactive Investor

  • Trade From (frequent trader rate): £7.99 (Investor Plan: Flat fee of £9.99pm with one free trade)

Why we like it: ii offer a fixed fee service which is ideal for frequent traders. For £19.99 pm (Super Investor Plan) as well as one free trade, you can trade at £3.99 and for US trades at £4.99. Alternatively for £9.99 pm (Investor Plan) get one free trade and trade at £7.99. Over 40,000 UK & global stocks to choose from across 17 stock exchanges. Invest directly in shares, ETFs, funds, investment trusts & more. Trade using iOS or Android Apps. Get award winning Quotestream, Level 2 streaming prices and real estate portfolio management for a low fixed price of £20 +VAT pm.

Important: The value of your investments can rise as well as fall. You may get back less than you invested. If you’re unsure, we recommend you ask for independent advice.

Share Dealing ISA

from Hargreaves Lansdown

  • Trade From (frequent trader rate): £5.95 per trade - 20 trades + pm
  • Trade From (standard trader rate): £11.95 per trade

Why we like it: Online share dealing at £11.95 per deal, or as low as £5.95 per deal for active traders. For regular savings, pay just £1.50 per deal. You can also trade shares by phone or post.

Important: The value of your investments can rise as well as fall. You may get back less than you invested. If you’re unsure, we recommend you ask for independent advice.

Share Dealing ISA

from Fidelity

Allows ISA Transfers
  • Trade From (frequent trader rate): N/A
  • Trade From (standard trader rate): £10 per online trade. Other charges apply.

Why we like it: An easy way to invest in the stock market, with live prices on an extensive range of UK shares, investment trusts and exchange-traded funds, there’s also online guidance tools and expert insights from Fidelity specialists to help you find investment ideas.

Platform Fees: Typical annual service fee of 0.35%. No service fee on exchange-traded investments (such as shares) held in an Investment Account, on junior accounts or on cash. 

Important: The value of investments can go down as well as up so you may get back less than you invest. This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to an authorised financial adviser.

Tax treatment depends on individual circumstances and all tax rules may change in the future.

Important Risk Information:

The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website aims to provide information to help you make your own informed decisions. It does not provide personal advice based on your circumstances. If you are unsure of how suitable an investment is for you, please seek personal advice.

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Stocks and Shares ISAs

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