Is Barclays Direct Investing good for investing?
Independent review by Boring Money
Written by Boring Money
1 Jan, 2025
Investment expert's opinion
Barclays remains the best high street bank choice for those who want to manage ISAs alongside their current accounts, benefitting from a single app and log-in. Custody charges are free and the fund research has improved and will support the less confident who want to learn. I think there is still work to be done on the pensions front.
*This is the view of investment expert Holly Mackay based on her first-hand customer experience as a test account holder. This does not constitute regulated advice. You can read more about Holly's investments here.
Who is Barclays Direct Investing?
Barclays Smart Investor is an investment platform owned by Barclays, one of the biggest and best-known banks in the UK. The bank itself has a long history with origins dating all the way back to goldsmith banking in the City of London in 1690. Today, Barclays provides both personal and business banking services to millions of customers across the country. Its Direct Investing platform offers a range of products that include Stocks & Shares ISAs, which you can use to invest and achieve your financial goals, plus a wide selection of investments to choose from.
Who is Barclays Direct Investing good for?
Barclays Direct Investing is a good choice for investors looking to build a portfolio of funds and shares, as well as those who want to collate multiple financial products under one roof. It has a large range of investment options. It’s not the easiest for beginners to navigate, but the supporting educational content is good. Pensions are currently unavailable as Barclays are working on something new in this space, so investors looking for SIPP right now should go elsewhere.
Barclays Direct Investing won the following at Boring Money’s Best Buy Awards in 2025:
🏆 Best for Customer Service
🌟Value for Money
Pros and cons
Investments
Direct Investing offers a wide range of investment options. Users can access over 8,000 investment options, including:
Shares |
Funds |
Investment trusts |
ETFs |
Ready-made investments |
Bonds |
Gilts |
Shares |
Funds |
Investment trusts |
ETFs |
Ready-made investments |
Bonds |
Gilts |
The ready-made investments are pre-packaged funds made up of a mix of investments, typically shares and bonds, designed to reflect your tolerance for risk.
Direct Investing’s range of ready-made investments are called Defensive, Cautious, Balanced, Growth and Adventurous.
Accounts
Stocks & Shares ISA | Pension (SIPP) | General Investment Account (GIA) | Lifetime ISA | Junior ISA |
✔ | ✔ | ✔ | ✘* | ✘ |
*Holding a pension account on Direct Investing is temporarily unavailable.
Direct Investing has a Stocks & Shares ISA, which allows clients to invest up to £20,000 each year completely tax-free.
Users get access to a range of more than 8,000 investments, including funds, shares, and bonds. Fund trading is free, whilst listed securities (shares, ETFs, investment trusts) cost £6 per transaction.
ISA costs are extremely competitive, with Barclays Direct Investing’s most recent fee change removing all custody charges. This means that clients invested in funds pay no charge for having an ISA, whilst clients invested in shares only need to pay a £6 dealing fee every time they buy and sell a share.
Direct Investing offers a private pension (SIPP), where you can invest up to £60,000 every tax year to put towards your retirement savings. However, as Barclays are “working on something new”, they are not accepting new SIPP applications at the moment, so investors seeking to open a new pension should look elsewhere for the time being.
For those who have already used up their annual ISA allowance (£20,000), the Direct Investing General Investment Account (GIA) could be a good alternative.
Barclays’ GIA has the same range and cost as its ISA, with the main difference being the lack of tax shield that the GIA provides, unlike the more popular ISA. If you’re yet to use up your £20,000 annual ISA allowance, it’s generally a good idea to go ahead and open a Stocks & Shares ISA instead.
Fees and charges
Barclays Direct Investing’s recent fee changes make them the cheapest provider for investors looking to buy funds, and one of the cheapest for share-traders.
Direct Investing platform fees
There is no charge for having an account with Barclays Direct Investing.
Account Type | Portfolio Size | Annual Platform Fee |
Stocks & Shares ISA, GIA | All | Free |
Stocks & Shares ISA, GIA, SIPP* | £200,000+ | 0.05% |
Account Type | Portfolio Size | Annual Platform Fee |
Stocks & Shares ISA, GIA | All | Free |
Stocks & Shares ISA, GIA, SIPP* | £200,000+ | 0.05% |
Direct Investing trading fees
There are separate fees for when you trade investments in a Smart Investor account. These differ depending on the type of investment you are dealing.
Investment Type | Trading Fee |
Funds | Free |
Listed Securities (eg Shares, ETFs, Investment Trusts) | £6 per transaction |
Investment Type | Trading Fee |
Funds | Free |
Listed Securities (eg Shares, ETFs, Investment Trusts) | £6 per transaction |
Automated regular investing plans are free to set up and reduce the cost of dealing listed securities. This could be suitable for those buying the same investments every month.
There is an additional 1.0% foreign exchange fee for purchasing international equities, which reduces slightly as trade size increases.
Customer reviews
Barclays is widely praised for its reliable and knowledgeable customer service, user-friendly platform, and comprehensive investment options. Customers appreciate the ease of navigating the platform and the helpful insights and tools provided for managing investments. The company's long-standing reputation and trustworthiness are also highlighted.
However, some areas for improvement include better interest rates, more personalised financial tools, and enhanced communication. Despite these suggestions, the overall sentiment is positive, with customers valuing Barclays' innovative approach and strong customer support.
Your opinion matters!
Leave a review for Barclays
Now they have removed all fees (so set at 0%) this is is truly game changing. App could be a little better for comparing funds, but it’s not bad!
Read More >I scored them 9/10 because baclays offers cool investments features and simplify everything for beginner investors.
Read More >Most asked questions
Is Barclays safe?
Barclays is regulated by the Financial Conduct Authority (FCA). If a fund fails due to fraud or mismanagement, you may be eligible for compensation from the Financial Services Compensation Scheme (FSCS). The FSCS protection is capped at £85,000 per person, per fund manager (not per individual fund). However, if your investments lose value due to normal market conditions or your investment choices, this is part of the normal risk of investing and is not covered by FSCS compensation.
Who owns Barclays Direct Investing?
Barclays Direct Investing is part of Barclays plc, a British-based multinational bank headquartered in London. Barclays is listed on the London Stock Exchange and is part of the FTSE 100 index, which represents the 100 largest companies (by market cap) listed in the UK.
Does Barclays Direct Investing have an app?
Yes, Barclays customers can view and manage their Direct Investing accounts from the Barclays mobile app. You can download it from the Google Play Store and App Store. Note that you must have a Barclays Current Account, a mobile number and be aged 16 or over to use the app.
Visit the Barclays Direct Investing website for more information
Glossary
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Discover jargon-free definitions of the most common words and technical terms used in the world of investing.
Historically, money invested for more than five years grows more than cash savings. Remember that investments can also fall, so you might not get all of your money back. Tax treatment depends on individual circumstances and may change.
