interactive investor cuts trading fees by 33%
This is the fourth cut to trading fees ii has made in the last five years.
The platform explained it will introduce a trading fee of £3.99 for funds, ETFs, investment trusts and UK/US trades.
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This is the fourth cut to trading fees ii has made in the last five years, from £10 per trade in 2018, to £7.99 in 2019 and £5.99 in 2020 — a 65% decrease over the period.
International (ex US) trades will also be reduced by 50% to £9.99 across lower cost and core price plans, while Super Investor plan customers will continue to pay the reduced fee of £5.99.
Subscription plans will mostly remain unchanged, but customers of the Investor plan will see their monthly charge increase by £2 to £11.99.
The assets cap for ii's entry level Investor Essentials plan has been raised to £50,000 from £30,000 as well, to broaden access to more customers — the switch for qualifying clients will happen automatically, the platform said.
interactive investor noted, according to calculations from the Lang Cat, it is now «unambiguously the best value provider among the major platforms for people with assets of £15,000 upwards».
As part of the raft of chnages, ii's ‘Friends and Family' referral scheme will be free for up to two members — it was previously £5 a month for Investor price plan customers. The scheme gives clients the opportunity to gift a free ii subscription, the platform explained.
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Richard Wilson, CEO of interactive investor, said: «These adjustments reflect our relentless drive to innovate and bring unrivalled value, choice and the best customer experience to the UK. It means our great
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