InvestEngine is about as close to free investing as it gets: no platform fee, no commission and no currency fee on its DIY Stocks and Shares ISA, SIPP and general account, so the only cost is the ETFs’ own charges (checked 10 November 2026). The catches: you can only buy ETFs, not individual shares, you need £100 to start, it pays no interest on uninvested cash, and its 0.25% Managed Portfolios are currently closed to new clients.
I’ve tested InvestEngine for well over a year and rated it 4.7 out of 5. It’s regulated by the FCA, and your investments are covered by the FSCS (the UK’s compensation scheme) up to £85,000 if InvestEngine fails.
Best for low-cost ETF investing
InvestEngine
Free DIY ETF investing in an ISA, SIPP or GIA
- £0 platform fee on DIY ISA, SIPP and GIA
- No commission or FX fees
- 4.7/5 on Trustpilot
- ETFs only, no individual shares
- Managed and LifePlan portfolios closed to new clients
- Does not pay interest on cash balances
- Trades once a day: selling ETFs takes about 3 to 4 working days
- £100
- minimum
- Free
- platform fee
- DIY; Managed closed to new clients
- Free
- trading fee
- No commission, no FX fee
Capital at risk.
InvestEngine review: my verdict at a glance
| InvestEngine (checked 10 November 2026) | |
|---|---|
| My rating | 4.7 out of 5 |
| Best for | Long-term investors who want to build a low-cost ETF portfolio |
| Platform fee | £0 on DIY portfolios; 0.25% a year on Managed and LifePlan portfolios |
| Dealing and FX | No commission, no FX fee (ETFs are priced in pounds), no stamp duty on ETFs |
| What you can open | Stocks and Shares ISA, SIPP, General Investment Account, Business account |
| Investments | 890+ ETFs |
| Minimum | £100 to start |
| Interest on cash | None |
| Protection | FSCS up to £85,000 if InvestEngine fails |
| Not available | Individual shares, Junior ISA, Lifetime ISA, Cash ISA |
| Trustpilot | 4.7 out of 5 from 4,988 reviews |
I really like how InvestEngine has a funds-first focus, which lowers risk and automatically spreads people’s money across lots of companies.
What really are ETFs?
An exchange traded fund is a basket of shares bought for one price. I like to use the chocolate box analogy: think of a box of Celebrations. The chocolates are the shares and the box is the ETF, which you buy for one price, just like a box of chocolates. You can get lots of different boxes that focus on continents, countries or sectors, and by only offering ETFs, InvestEngine encourages a long-term mindset because you’re already spreading your money from day one.
Our guide to investing in index funds explains the most popular type of ETF.
Who InvestEngine suits (and who it doesn’t)
InvestEngine suits you if
- You want to build a simple ETF portfolio and keep costs as low as possible.
- You want an ISA and a pension with no account fee.
- You like setting a target mix of ETFs and rebalancing back to it in one click.
- You run a business and want to invest its spare cash.
Look elsewhere if
- You want to pick individual shares like Microsoft or Tesla.
- You want a Junior ISA, Lifetime ISA or Cash ISA.
- You want your cash to earn interest while it waits to be invested.
- You want a fully managed portfolio today and are new to InvestEngine, as new Managed Portfolios are closed.
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Account types
| Account | InvestEngine fee | Notes |
|---|---|---|
| Stocks and Shares ISA | £0 (DIY) | Up to £20,000 a year tax free; free transfers in |
| SIPP (personal pension) | £0 (DIY) | From £100, or regular payments from £20 a week or £50 a month; basic rate tax relief added in 6 to 11 weeks |
| General Investment Account | £0 (DIY) | No limit, but gains and dividends can be taxed |
| Business account | £0 | A Legal Entity Identifier charge may apply after the first year |
When you invest, your capital is at risk.
DIY portfolios
The big appeal of the DIY portfolio is that it comes without fees: no platform fee, no account fee, no dealing charge and no set-up fee. You pick from more than 890 ETFs and build your own mix. You still pay each ETF’s yearly charge and the small gap between buying and selling prices (the spread), so check those before you invest. The one-click rebalancing, which tops your mix back up to your target split, is a real plus.
Managed Portfolios and LifePlans
InvestEngine also runs ready-made portfolios for 0.25% a year plus ETF costs, picked to match your attitude to risk. When I first reviewed it, I thought this was a fantastic addition that made it stand out. Right now, though, InvestEngine says Managed Portfolios are unavailable to new clients. Its fee page also lists LifePlan portfolios at the same 0.25%, but these are closed to new clients too. One thing to know: the risk questions give you a suggestion, not a regulated personal recommendation.
SIPP
InvestEngine’s SIPP has no account fee and no commission, just the ETF costs. You can open it with £100, and InvestEngine claims 20% basic rate tax relief from HMRC for you, so £80 becomes £100 within 6 to 11 weeks. Higher rate taxpayers claim the rest through Self Assessment. You can transfer most pensions in, but watch for exit fees at your old provider, and you can’t usually access the money until 55 (57 from 6 April 2028). Our SIPP vs ISA guide and best pension providers page help you compare.
InvestEngine fees
These are InvestEngine’s own figures, checked 10 November 2026.
| Fee | Cost |
|---|---|
| DIY platform fee (ISA, SIPP, GIA) | £0 |
| Managed and LifePlan fee | 0.25% a year |
| Commission (buying and selling) | £0 |
| FX fee | None (ETFs priced in pounds) |
| Stamp duty on ETFs | None |
| Opening, closing, admin and withdrawal fees | £0 |
| ETF charges and spreads | Set by each ETF provider, built into the fund’s price |
What InvestEngine costs in pounds
Take £10,000 in an ETF with a 0.20% yearly charge as an example (charges vary by ETF):
- InvestEngine DIY: £0 platform fee, so about £20 a year in total.
- InvestEngine Managed: £25 plus about £20 in ETF costs, so about £45.
- Vanguard Investor: £4 a month under £32,000, so £48 a year before fund costs.
- Hargreaves Lansdown: 0.35% (capped at £150 a year for shares and ETFs), so £35 before fund costs and dealing fees.
- Wealthify: 0.60% plus around 0.14% in fund costs, so about £74.
How InvestEngine makes money
If DIY is free, how does it make money? From the 0.25% fee on managed portfolios, and from the interest on uninvested client cash, which InvestEngine keeps rather than paying it to you. That’s the main trade-off against apps that pay interest on cash.
Read nextPensionBee Review – Consolidate Your Pensions (Finally)Is InvestEngine safe?
Yes. InvestEngine isn’t a bank. InvestEngine (UK) Limited is authorised and regulated by the Financial Conduct Authority (FCA number 801128).
- Your ETFs are held by one of InvestEngine’s nominee companies (a company that holds them on your behalf), separate from InvestEngine’s own money.
- Uninvested cash sits in a client money account at a major UK bank.
- If InvestEngine failed and you lost out as a result, the FSCS covers up to £85,000 per person. The higher £120,000 limit only applies to deposits with banks, not investment firms.
- Market falls are never covered. Your ETFs can go down as well as up.
You can check any firm with the FSCS protection checker.
How long do InvestEngine withdrawals take?
InvestEngine trades once a day, so selling takes a little longer than on share trading apps. Its own timings:
| Withdrawal | Typical time |
|---|---|
| Uninvested cash | Usually within 1 working day |
| Selling ETFs, request before 2pm on a working day | Sold the same day, about 3 working days in total |
| Selling ETFs, request after 2pm | Sold the next working day, about 4 working days in total |
That’s because ETF trades take 2 working days to settle, plus a working day for the bank transfer.
What’s the user experience like?
I really enjoyed testing the app and set up an account in just a few minutes. You can use the website or the phone app, and either way the experience is a pleasant one. Virtually anyone can get set up, and there are plenty of resources on the website, including a community section, which helps when you’re getting to grips with the basics.
We also spoke to Adam Lees from InvestEngine on The Money Gains Podcast about how to invest in ETFs, if you want to hear how they think about it.
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What InvestEngine customers are saying
On Trustpilot, InvestEngine scores 4.7 out of 5 from 4,988 reviews, with 84% giving five stars and 4% giving one star (checked 10 November 2026). When I first reviewed it, it had around 730 reviews and a 4.6 score.
Users are full of praise for how easy the website and app are to use and for the low fees. The recurring complaints in recent one star reviews are slow replies from support (there’s no phone line, only email and web forms), trouble logging in, and delays from identity checks on withdrawals. InvestEngine lists a 2025 Finder Awards People’s Choice win and a 2025 Investors Chronicle and FT five star award on its site.
Alternatives to InvestEngine
InvestEngine is tricky to compare because it offers both DIY and managed options. I think the main competitor is Hargreaves Lansdown, because it offers ready-made and DIY options, and I’d put Wealthify and Moneyfarm in the same bracket for managed portfolios. Each provider’s figures are from their own sites, checked 10 November 2026.
| InvestEngine | Hargreaves Lansdown | Wealthify | Moneyfarm | |
|---|---|---|---|---|
| Minimum | £100 | £100 lump sum or £25 a month | £1,000 | £500 |
| Yearly fee | £0 DIY; 0.25% managed | 0.35% (shares capped at £150 a year) | 0.60% plus about 0.14% fund costs | 0.45% management (to £50,000) plus 0.25% platform fee |
| Dealing fee | £0 | £6.95 per share deal; £1.95 funds | None | None |
| Who picks the investments | You (managed closed to new clients) | You, or ready-made options | Wealthify | Moneyfarm |
| Stocks and Shares ISA | Yes | Yes | Yes | Yes |
| SIPP | Yes | Yes | Yes | Yes |
| Junior ISA | No | Yes | Yes | Yes |
| Trustpilot | 4.7 | 4.3 | 4.7 | 4.2 |
InvestEngine vs Hargreaves Lansdown
Hargreaves Lansdown offers far more: individual shares, traditional funds, a Junior ISA and a Lifetime ISA. You pay for it with a platform fee and dealing charges, so for a simple ETF portfolio InvestEngine is much cheaper.
InvestEngine vs Wealthify and Moneyfarm
If you want a managed portfolio, Wealthify and Moneyfarm will pick and look after your investments, but their yearly fees are higher. See our Moneyfarm review.
InvestEngine vs Trading 212
Trading 212 also has no account fee and lets you buy individual shares as well as ETFs, but charges 0.15% on currency conversion. InvestEngine suits people who only want ETFs. Read my Trading 212 review.
Best Stocks and Shares ISAs 2026
The investing ISAs I rate, compared on fees, features and offers.
See the ISAsHow I tested InvestEngine
I’ve tested InvestEngine for well over a year: opening an account, building a DIY portfolio, adding money and using the rebalancing tools. I scored it with our six pillar method, which rates suitability for beginners, useful features, user experience, customer service, price and fees, and customer feedback. InvestEngine scored 4.7 out of 5, best on fees and suitability for beginners, and lowest on useful features, which still scored 4.5 out of 5.
Every fee, product and rule on this page was re-checked on InvestEngine’s own website and help centre on 10 November 2026. If you sign up through our links we may earn a commission. That never changes the score.
Final thoughts: is InvestEngine worth it?
For anyone happy to invest in ETFs for the long term, yes. A free DIY ISA and SIPP with no dealing or currency fees is about as cheap as investing gets, and your money is properly protected. Any app that’s designed to help beginners invest simply gets a big tick from me.
It’s less suited to people who want individual shares, a Junior or Lifetime ISA, or interest on cash, and new clients can’t currently open a Managed Portfolio. If you want to compare it with other apps, see our best investing apps page.
FAQs
Is InvestEngine safe?
Yes. InvestEngine is regulated by the FCA (number 801128), your ETFs are held by a nominee company separate from its own money, and the FSCS covers up to £85,000 if it fails.
Is InvestEngine a bank?
No. It’s an investment platform. Uninvested cash is held in a client money account at a major UK bank.
Is InvestEngine free?
The DIY ISA, SIPP and GIA have no platform fee, no commission and no FX fee. You only pay the ETFs’ own charges. Managed and LifePlan portfolios cost 0.25% a year.
Does InvestEngine have an ISA?
Yes, a Stocks and Shares ISA where you can invest up to £20,000 a year tax free. It doesn’t offer a Junior ISA, Lifetime ISA or Cash ISA.
Can you buy individual stocks on InvestEngine?
No. If you want companies like Microsoft or Tesla, you’d hold them through an ETF. It’s slightly restrictive, but I like how this model differs from other providers.
How long do InvestEngine withdrawals take?
Uninvested cash usually takes 1 working day. Selling ETFs takes about 3 working days if you ask before 2pm, or 4 if after.
Does InvestEngine pay interest on cash?
No. InvestEngine keeps the interest earned on uninvested client cash.
Is InvestEngine good for beginners?
Yes. Investing only in ETFs spreads your money from the start, the app is easy to use, and you can begin with £100.
