EQi is a big established player whose parent company looks after a lot of the shares held by those who get issued shares through work. This DIY offering however needs work to get the systems and service working as well as they need to. It’s tricky to find what their unique selling point is today, or what they do better than others.
How our ratings work
We score each provider on about 20 different criteria including cost, service, website, functionality, customer feedback and our experience of the service. All overseen by our PhD gonk!
Don’t want to take our word for it? We ask existing customers and investors to rate their experience with the company – based on value for money, overall service and the website. We need at least 20 customer reviews before we add anyone to our Best Buys list.
In 2019 I have noticed they could not produce price quotes for a couple of securities including an AIM security and for a tracker security dealt on Nasdaq, requiring customer to phone in and try and get a price. In the case of the AIM security I got a quote immediately over Interactive Investor's (formerly TDD Direct) platform and as for the tracker you can get firm quotes for it on the web dealing platforms of at least two other UK retail execution-only brokers. Also problems with email alerts. The interface remains clunky and I now keep the account only to spread broker credit and other risks.
Website very confusing to use and the help system is not much better.
I liked the terms/cost of the ISA account.
Easy to see GIA, ISA, SIPP in one place, create watchlists and monitor gains / losses. Both app and website have recently had a positive overhaul. In-activity charge introduced a couple of years back a negative, but this is made up by the low cost of trading.
This platform is bad for trading and not cheap at all! Display prices incorrectly and the client service is the worst I have ever seen on similar platforms - you wait for 60 minutes to get them on the phone and usually the person answering the call is not prepared and needs to refer to a senior colleague - APPALING client experience! I want to close the account but still struggling to get my money out. Do not recommend it to my worst enemy!
I had high hopes for the new website, but find it useless. I do wear glasses but do not need full page graphs and tables that are years out of date, I have to use Hargreaves Lansdown to get concise useful data. Data, when working, on the old web site was very useful, with a lot of information all in one place. Classic example of Hutber's Law, for those who have never come across this it is "Improvement means deterioration". In another way when it is not broken, don't fix it.
Excellent for shares and investment trusts. Very good value, especially if one trades once a quarter or have a token fund holding which both mean the quarterly charge is not deducted. The charge also covers both a share dealing and an ISA account. The website is quite basic but easy to use.
Great rates and customer services have always been good. Website does need improving though as it look quite dated now.
It's expensive � they've put prices up since Equniti bought it.
I have it because it is there! I can't be bothered changing. The whole web service is terrible.
Comprehensive and functional with a well designed website. Reliable service.
They need to be honest, they need to retain customer service staff so they understand what they are doing and admit when they are wrong.
Good market updates. Would like lower costs.
Easy to use and trade. Some screens are difficult to understand, more graphs needed.
It was ok at the time I was looking around as I've not looked elsewhere I am not so sure they are the best
I like the low charges but needs a better website and more research.
Needs a better site, searching for investment vheicles is a nightmare.
EQi continues to move towards more user-friendly content for the less experienced investor with appealing imagery and tools to make complicated information digestible. You pick your own investments from the mountain of funds and shares available. Currently, if you're not sure about what you're doing or what you need, it's a complex text-heavy site to navigate.
With a £17.49 quarterly custody charge (that can be offset), fund fees of 0.3%, falling to 0.25% after £50,000 and a £10.99 dealing commission on shares - their charging structure is complicated. It is worth noting that making two share trades within a quarter or holding around £20k in funds would result in the quarterly custody fee being offset completely. Overall - relatively pricey for small portfolios but more competitive for mid-sized pots.
It's just a bit hard to know what their real advantage or core strength is.