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Pick the right platform to avoid the destructive impact of charges

The amount of assets you have is a key factor in deciding which investment platform to use
Pick the right platform to avoid the destructive impact of charges

Monthly subscription models allow you to spread the cost of subscriptions to magazines, music streaming services, and television and film packages. But many investors would not associate paying a monthly subscription with investment platform fees. However, in April, Interactive Investor announced it was switching to a “Netflix-like” monthly flat fee pricing model, replacing its quarterly fee, which financial services consultancy The Lang Cat says could save investors £30,000 over 30 years, compared with Interactive Investor’s largest competitor.

Interactive Investor's new pricing model offers customers three service plans: the Investor for £9.99 a month, the Funds Fan for £13.99 a month and the Super Investor for £19.99 a month.

Trading costs for customers across all three plans are lower than they used to be. With the Investor plan, investors get one free trade per month, after which it is £7.99 per trade, down from £10 previously. With the Funds Fan plan, investors get two free fund trades per month (this includes investment trusts, but not ETFs), after which each fund trade is £3.99, while Super Investor plan customers get two free trades across UK shares, funds and ETFs before paying £3.99 per trade.

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