DIY Investment Platforms
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Why use a DIY investment platform?
You can choose how much your investments are managed by the platform you choose, or whether you do it yourself.
What is a diy investment platform?
If you want a wide range of food options when you shop – typically you will go to a supermarket.
The online “investment platform” is your supermarket. It’s where you can hold your ISAs, Self Invested Personal Pensions (SIPPs) and other direct investments in one convenient place allowing you secure online access 24/7.
Why do you need one?
You don’t have to use a diy platform to manage your investments: you could be old-school and contact fund managers or a stock broker directly to buy and sell investments. This often involves lots of paperwork and waiting for the postman to send you paper statements which for some people may be perfectly adequate.
You will typically need to deal with a real person to make anything happen which can make this way of operating cumbersome and more expensive. With advances in technology investors now have significant choice in how their money can be managed online.
A plethora of online diy investment platforms have sprung up because it’s easier and cheaper to manage your investments this way:
- You can hold all your tax efficient investments such as ISAs and SIPPs in one place: including lifetime ISAs, right to buy ISAs and junior ISAs
- Plus any other fund holdings or shares that you’re trading outside of a tax-free environment, from a general trading account
- The costs of holding investments with a platform provider will vary so it is good to research and assess the merits of each in line with your particular requirements for investing. You can compare best investment platforms here