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Bestinvest investment platform review

We analyse the charges levied by Bestinvest and ask its customers to rate it for service, tools, value for money and more

In this article
What is Bestinvest? Is Bestinvest any good? What do customers say about Bestinvest? What are Bestinvest's charges?
Who is Bestinvest good for? Who is Bestinvest expensive for? What accounts and services does Bestinvest offer? Is your money safe with BestInvest?

What is Bestinvest?

Bestinvest has been a fixture on the investment scene for more than 30 years, and it launched its service for DIY investors in 2011.

It offers a range of Isas and a self-invested personal pension (Sipp).

Is Bestinvest any good?

Which? members can exclusively read the results of our unique customer satisfaction survey.

Members can log in to read our analysis. If you're not yet a member, join Which? and get full access to these results and all our reviews.

 

How we rate investment platforms

 

Our rating for customer satisfaction is based on feedback from customers.

We ask investors to rate their current platform for the quality of its online tools and smartphone app, customer service, and information on investment opportunities and performance. We also ask whether it meets their needs, represents value for money and whether they'd recommend it to someone else.

How do we pick Which? Recommended Providers?

A platform must allow investors to pick their own investments from an extensive list.

It must get a customer score of at least 70%, and mustn't get any ratings below three stars on any of the underlying criteria, such as customer service, investment information or the quality of its online tools.

It also mustn't be in the top four platforms for charges, based on our fee analysis.

What do customers say about Bestinvest?

We’ve heard from investors who use Bestinvest. This is what some of them had to say:

  • 'I think their fees are expensive for the service they provide. But I feel trapped in view of the cost of moving my investments to another provider.'
  • 'The staff are very good and take a personal interest.'

Find out more: best and worst investment platforms

What are Bestinvest's charges?

Annual charges

  • 0.2% service fee on anything up to £500,000
  • 0.1% service fee between £500,000 and £1m
  • 0% service fee on anything above £1m

Trading charges

  • £4.95 to trade shares and investment trusts online
  • Free online trading for unit trusts and open-ended investment company funds

How much will I pay to invest?

We’ve estimated the cost of investing with Bestinvest over the course of a year in a stocks and shares Isa.

Costs will vary depending on how much you invest, and whether you trade funds or shares. All assume you make four purchases and four sales each year, spread out over different months.

Amount invested Annual cost
£5,000 Logged out detail
£10,000 Logged out detail
£25,000 Logged out detail
£50,000 Logged out detail
£100,000 Logged out detail
£250,000 Logged out detail
£500,000 Logged out detail
£1m Logged out detail

Source: Analysis by Which? Money correct as of April 2022

Who is Bestinvest good for?

Bestinvest offers competitive charges for smaller portfolios.

For example, if you have a pot worth £10,000, you'd incur a £40 annual cost in our scenarios.

Who is Bestinvest expensive for?

For larger portfolios, Bestinvest is relatively expensive. If you have a six-figure portfolio value, you're likely to be significantly better off with a broker that charges a fixed fee, such as Interactive Investor or Halifax Share Dealing.

If you have a pot worth £250,000, you could be looking at an annual cost of £1,040 in our share-trading scenarios. 

Fund charges can also be expensive for those with larger portfolios, particularly those with more than £250,000 to invest.

Read our comparison of investment platform charges to see how much investing with Bestinvest costs for a range of portfolios.

And if you're thinking of using Bestinvest to take an income from your pension in a drawdown plan, read our comparison of pension drawdown charges

What accounts and services does Bestinvest offer?

The information below gives an at-a-glance view of the accounts and services Bestinvest offers.

  • Advisory services - allow you to access professional investment advice.
  • General investment account - can hold different types of investments but doesn't give tax-free benefits such as pensions and Isas. 
  • Junior Isa - a tax-free savings account for under-18s.
  • Sipp - a pension where you have complete control over the investments you put your savings into.
  • Stocks and shares Isa - a tax-free account that allows you to put your money in a range of investments.
  • Income drawdown - allows you to take money out of your pension to live on in retirement.

What can you invest in with Bestinvest?

  • More than 1,000 funds, as well as shares, exchange-traded funds (ETFs) and investment trusts

What tools and research does Bestinvest offer? 

  • Free investment coaching
  • One-off advice for a fixed fee - you can get investment recommendations from a financial planner for £295 and a portfolio health check for £495
  • Goal-setting and tracking tools

Is your money safe with BestInvest?

If Bestinvest went out of business, you would be compensated by the Financial Services Compensation Scheme (FSCS).

The FSCS will cover up to £85,000 of investments per person, per platform. You can claim for free online: there’s no reason to use a claims management company.

You won’t be compensated for investments falling in value, or a company in which you hold shares going bust, unless this poor performance resulted from bad advice given by a regulated Independent Financial Advisor that has since gone bust. 

 

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