as of 07/09/2020 at 2:26 pm
Not one for our novice investors. IG is principally a share dealing platform, though there are also ready-made investment ‘Smart Portfolios’ available for those that want to have their investments managed for them.
For share traders it’s relatively low cost, at £24 per quarter for an ISA or share dealing account. You can't buy funds on the platform, apart from those that are listed – investment trusts and ETFs.
IG is more likely to suit investors who already know what they are doing, feel confident but like the idea of getting an expert to do the heavy lifting and monitoring. Share dealing and Smart Portfolios are available on the ‘Investments’ section of the website. It’s easy to get lost in the spread betting and CFD trading areas – higher risk investments and risky business. Not for your average Joe.
Part of the IG Group, which is a FTSE 250 company.
£500 minimum initial investment into each IG Smart Portfolio
"I am 47 years old and up to this point I have ensured I have sufficient cash saved and regularly overpay my mortgage. I also have a company pension into which I pay additional voluntary contributions. I would now like to open an investment ISA for growth, with an initial figure of about £5000 and then about £250 per month (more when possible) for at least 10 years. I am tempted by the Vanguard LifeStrategy 80 due to the low fees and strong reputation. I would also consider investing in a couple of other Vanguard funds as well. Would this be advisable or relatively unnecessary, if I'm already investing in the LifeStrategy fund? I have also been looking with interest at a number of other companies including, Nutmeg, Wealthify, IG and AJ Bell Youinvest. Is there any provider that would stand above the others as most suitable in my circumstances? Whilst I would like my investment to start working without too much input from me, I would be happy to get more involved as my knowledge and understanding increase. Any insight or opinions you may have would be appreciated. Thanks."
Matt, South Yorkshire
11/03/2019Read our reply