Fidelity or InvestEngine – which is better for UK traders 2024? Compare Fidelity and InvestEngine in this detailed breakdown of their platforms, features and fees.
Fidelity is a popular financial services firm that provides investment accounts and pensions with access to thousands of stocks, ETFs and mutual funds to clients based in the US, Europe and Asia. Fees vary by asset and account country, but are generally competitive, with zero-commission trading available on US stocks.
InvestEngine was founded in 2019 by the founders and CEOs of Gumtree and Ramsey Crookall, a successful independent wealth management firm. The company is regulated in the UK by the FCA and has planted itself as a strong competitor within the retail stock trading space, offering managed and DIY investment portfolios and access to more than 550 global ETFs.
Pros
Excellent list of stocks and funds to choose from
Very competitive pricing compared to largest rivals
Good list of account types to suit various types of investor
Uninvested cash is automatically put into a money market fund
Trusted global brand with strong regulation from SEC & FCA
Tax-efficient vehicles are available including ISAs
We were impressed by the company's provision of analytics reports and strategy advice, as well as top product picks and a detailed blog
Hands-on investors can benefit from completely free access to InvestEngine's services, only paying for any dealing charges
We think the firm's investment platform is intuitive and impressive, making the whole experience simple and stress-free
InvestEngine clients have a wide choice of investment and savings accounts to tailor solutions to their goals
Managed portfolios provide professional advice and expert picks for a commission of only 0.25%
Cons
No forex or CFD trading
There is no demo account
Less suitable for short-term trading
Presentation of data is overly complicated
No trading platform for non-US clients
The $1000 minimum deposit for international clients is high
Any clients looking for long-term gains from individual company stock investments must look elsewhere as InvestEngine limits its products to ETFs
Despite offering several account types, the firm does not support Lifetime ISAs or Self Invested Pension Pots (SIPPs)
No tiered services for high-net-worth investors
Awards
Boring Money Best Buy 2021 – Pension
Boring Money Best for Beginners Pension 2021
Boring Money Best for Beginners ISA 2021
Boring Money Best for Low - Cost Pension 2021
Online Personal Wealth Awards - Best Retirement Adviser 2021
Shares Awards 2020 - Best Execution-Only Stockbroker of the Year
FCA Regulated
Yes
Yes
Instruments
ETFs, Mutual Funds, ISAs, Pensions, Stocks, Indices
