What is The Share Centre?
The Share Centre has been offering stockbroking services to DIY investors since the early 1990s.
However, Interactive Investor (II) this year agreed to buy The Share Centre, subject to regulatory approval, in a cash and shares deal worth around £61.9m.
This means that when the deal goes through The Share Centre customers will be migrated to II Group's main trading company, II Services Limited.
- Find out more: read our guide to the best and worst investment platforms
Is The Share Centre good or bad?
To get an idea of how good or bad The Share Centre is, we asked its customers.
Which?'s rating for customer satisfaction is based on feedback from real customers. We ask investors to rate their current platform for the quality of its online tools, customer service, and investment information. We also ask if it meets their needs, is value for money and whether they'd recommend it to someone else.
However, to be named a Which? Recommended Provider (WRP), customer satisfaction alone won't suffice; we also consider platform fees.
Which? members can exclusively read the results of our unique customer satisfaction survey.
|Aspect of service||Star rating|
|Online tools|| |
|Customer service|| |
|Investment information|| |
|Available investments meet my needs|| |
|Value for money|| |
What do customers say about The Share Centre?
- 'They are well served by their excellent staff who are always helpful.'
- 'I find the website very easy to navigate. Information is easy to access and appropriate.'
- 'On the portfolio overview one has to enter manually the price paid for shares. This is the most basic functionality which they should have computerised.'
What are The Share Centre's charges?
- £24 for general investment account (£2/month)
- £60 for stocks and shares Isa (£5/month)
- £18 for DIY Junior Isa
The Share Centre usually has a Sipp offering, although it announced that from 13 March 2020 it will not be accepting new Sipp applications as its pension trustee is changing. We will keep you updated as the situation changes.
- £7.50 per deal for trades less than £750, 1% for £750 and above
- £25 fee to transfer out
We’ve estimated the cost of investing various sums in The Share Centre over the course of a year in the table below. The costs assume you only buy funds (shares work out slightly cheaper with some companies), and make four purchases and four sales each year.
Read our comparison of investment platform charges to see how much investing with The Share Centre costs for a range of portfolios.
Who is The Share Centre good for?
Fixed fees make The Share Centre more suitable for investors with medium-to-large portfolios (over £50,000).
Who is The Share Centre expensive for?
In our cost-comparison, The Share Centre was never the cheapest option for any size of portfolio.
What accounts and services does The Share Centre offer?
The information below gives an at-glance view of the key things that the accounts and services The Share Centre offers.
Elements marked with a ✓ are offered by The Share Centre and those marked with a ✘ are not.
✓ General investment account
A general investment account that can hold different types of investments but doesn’t give tax-free benefits like pensions and Isas.
✓ Stocks and shares Isa
A stocks and shares Isa is a tax-free account that allows you to put your money in a range of investments.
✓ Junior Isa
A junior Isa is a tax-free savings account for under 18s.
A Sipp is a pension where you have complete control over the investments you put your savings into.
✓ Lifetime Isa
A lifetime Isa is a tax-free savings or investment account designed to help people aged 18-39 buy their first home or save for retirement.
✓ Income drawdown
Income drawdown allows you to take money out of your pension to live on in retirement.
✘ Banking services
Banking services allow you to operate bank accounts, make transfers and make payments.
✘ Savings account
A savings account is somewhere you can put your money so it can grow in value.
An annuity is an insurance product which allows you to swap your pension savings for a guaranteed regular income that will last for the rest of your life.
✘ Advisory services
Advisory services allow you to access professional investment advice.
- Find out more: how investment platforms work
Is your money safe with The Share Centre?
As the Share Centre has been acquired by Interactive Investor, it's considered part of that platform.
If Interactive Investor 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 goes bust, unless this poor performance resulted from bad advice given by a regulated Independent Financial Advisor that has since gone bust.
- Find out more: how the FSCS works
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