Invest · Broker review
InvestEngine
ETF-only ISA with 0% platform fee — the cheapest UK ISA for ETF investors
$15 more per $10,000 than Interactive Brokers (FX cost only)
Not financial advice.This is a comparison of FX costs only. We don't recommend specific investments. Always consult a qualified financial adviser before investing.
Verdict
InvestEngine is the cheapest platform for UK investors who exclusively want ETFs in an ISA. Zero platform fee, zero commission, and 0.25% FX on non-GBP ETF share classes. By using GBP-denominated ETF share classes (VUSA/GBP, CSPX/GBP), you can eliminate FX costs entirely. The limitation: ETF-only, no individual stocks.
Full review
InvestEngine was founded in the UK in 2019 and is regulated by the FCA. Its principal differentiator is a zero platform fee for self-directed ETF portfolios — unlike HL, AJ Bell, or Vanguard UK, InvestEngine charges no annual custody fee for investors who manage their own ETF portfolio. Revenue comes from the managed (robo-advised) portfolios and from the ETF providers themselves through standard fund distribution arrangements.
The product is specifically built for passive ETF investors. The self-directed account gives access to several hundred ETFs from iShares, Vanguard, Amundi, HSBC, and other major providers at zero platform fee. Investors can build a portfolio, set percentage targets, and invest periodically. The auto-rebalance feature (on managed accounts) or manual rebalancing tools (on self-directed) help maintain target allocations as market movements drift the actual weights.
The ISA and SIPP wrappers are both available, enabling tax-efficient investing. The SIPP offering is particularly interesting: a zero-platform-fee SIPP holding low-cost ETFs can meaningfully reduce the total expense ratio of a pension portfolio compared to platform-fee-charging competitors, especially for larger pension pots where the saving is proportionally larger.
InvestEngine does not offer individual share trading, options, bonds, or access to international (non-London-listed) markets. This is a deliberate constraint consistent with the product philosophy: InvestEngine is for passive ETF investors, not active traders. UK-listed ETFs cover most asset classes (US equities, global equities, bonds, property, commodities) so most passive investment strategies can be implemented entirely within the platform.
For UK ETF investors who are pure passive investors with no need for individual stock trading or access to non-UK-listed securities, InvestEngine's zero platform fee makes it one of the most cost-effective platforms available. Compare the annual savings: on a £50,000 ETF portfolio, InvestEngine saves £225 per year versus HL (at 0.45%) — a compounding advantage that grows significantly over a multi-decade investment horizon.
FX cost breakdown
FX cost comparison on $10,000 investment
Pros & cons
Pros
- Zero platform fee (no annual % charge)
- Zero commission
- Stocks & Shares ISA included
- Auto-invest and portfolio rebalancing features
- GBP share classes available for most major ETFs — zero FX cost
Cons
- ETF-only — no individual stocks or bonds
- Smaller platform history vs HL or Fidelity
- FCA-regulated but smaller FSCS-backstop than major platforms
Who can use it
Markets available
Supported corridors
Regulated by
Frequently asked questions
Is InvestEngine the cheapest ETF ISA in the UK?
Yes, for pure ETF investors. Zero platform fee, zero commission, and the ability to use GBP-denominated ETF share classes to eliminate FX costs makes InvestEngine the lowest-total-cost ISA for UK index ETF investors as of 2026. The trade-off: ETF-only.
Invest by market & home country
See how InvestEngine compares for your specific home country and target market — with FX cost, regulation, and tax notes.
US stocks
S&P 500
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global ETFs
MSCI World / FTSE All-World
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UK stocks
FTSE 100
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emerging markets
MSCI Emerging Markets
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Indian stocks
Nifty 50
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European stocks
EURO STOXX 50
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bonds and fixed income
Bloomberg Global Aggregate
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REITs
FTSE NAREIT All REITs
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