The Best Self Select ISAs

Interactive Investor is the second-biggest investment platform in the UK, providing tools and a wide range of investment options for experienced large investors.

With the largest choice of investment options in the UK and a price model best suited for large investors, Interactive Investor offers a self-select ISA that’s perfect for experienced investors with more money to spare.

It provides a variety of tools that allow you to research investments, monitor their performance, and practise investing.

	Name	Score	Visit	Disclaimer
	Interactive Investor	7.6	Visitii.co.uk

Freetrade is a challenger trading platform with a zero-commission policy. It’s similar to Trading 212 when it comes to pricing, however, it offers a SIPP along with Plus Plan which is an advantage for some users.

The platform offers over 6,000 stocks, exchange-traded funds, investment trusts, REITs, SPACs, and fractional shares.

Freetrade is a great low-cost app, but it also offers interest on smaller amounts depending on the plan, which is rare for zero-commission apps. On the other hand, Trading 212 doesn’t offer interest on uninvested cash.

	Name	Score	Visit	Disclaimer
	Freetrade	7.6	Visitfreetrade.io					The value of your investments can go down as well as up and you may get back less than you invest.

Hargreaves Lansdown is the largest investment platform in the UK for private investors and an FTSE 100 company.

Hargreaves Lansdown is the best platform for DIY investors who want premium service including great customer support and financial advice.

One of its plus sides is its competitive interest rate for uninvested cash ranging from 26% on values of your balance below £10,000 to 2.27% AER on values above £100,000.

To sum up, the experience and reputation on the market lift this ISA provider above its competition for those willing to pay more. However, if you don't have the need for premium service, you can find more affordable options elsewhere on this list.

	Name	Score	Visit	Disclaimer
	Hargreaves Lansdown	8.3	Visithl.co.uk

What makes AJ Bell an amazing self-select ISA provider? Its low-cost structure which makes it suitable for a whole spectrum of portfolio sizes, along with a wide product range.

In addition to this, it provides a wide range of investment options: investment trusts, OEICs, shares, bonds, and funds. You can also buy AJ Bell funds as a part of your ISA.

AJ Bell clients can create a portfolio from scratch or customise one of its existing ready-made portfolios, making it a bit more suitable for beginners than Trading 212.

Moreover, you earn interest on uninvested cash, which is always good news. It works better for regular investors than people who want to contribute from time to time, as the minimum single payment is a hefty £500.

	Name	Score	Visit	Support	Mobile	Security	Commission	Disclaimer
	AJ Bell	7.9	Visitajbell.co.uk	Phone, Live Chat, Email	Android, iOS	2FA, Biometrics

Trading 212 is the closest option when you are searching for a free trading platform. Thanks to its fee-free UK trading model and a low 0.15% fee on foreign transactions. Its DIY ISA is simply the most affordable solution on the market.

Moreover, its Pie approach to portfolio building allows you to copy a Pie Recipe and use it to build your own. However, it’s truly DIY as it doesn’t have ready-made portfolios.

The downside to a Trading 212 ISA is that you cannot invest in mutual funds, index funds or bonds, which are highly useful and are a less risky way of diversifying your portfolio.

Finally, with no ready-made portfolios or financial advisors to guide you, Trading 212 is best for experienced investors looking for a low-cost platform. If you want to test your skills, see its demo account with a virtual £50,000.

	Name	Score	Visit	Disclaimer
	Trading 212	8.4	Visittrading212.com					CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 83% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Let’s go over the rules that govern self-select (and all other) Stocks and Shares ISAs:

• Your ISA allowance is £20,000 a year for all your ISAs together.

• Your self-select ISA allowance is measured by your contributions and not the total value of your investments, so their rising or declining value won’t affect your allowance.

• You are not required to lock your assets for a certain time period. You can access and sell them at any time.

• You can reinvest cash from one ISA into another ISA, only if you have unused ISA allowance to that amount.

• ISA dividends and interest are free from tax and needn’t be included in your Self Assessment tax return.

• Dividends within an ISA won’t impact your dividend allowance.

• Profit from selling investments in your Self-Select ISA is free of Capital Gains Tax.

If you don't think a self-select ISA is the best choice for you, you might want to look at other investment options. Here’s a brief overview of the alternatives:

• Stocks and Shares Lifetime ISA: It is best for people who want to save for a first home or additional pension income. It’s also a tax-wrapper account where the government provides a 25% bonus upon saving £4,000 per year. However, it can only be opened by people between 18 and 40 years of age.

• SIPP: A SIPP (self-invested personal pension) is a tax-efficient way to save for retirement, ideal for experienced DIY investors. If you want to save for your primary pension income through investments, this is a great choice.

• Junior ISA: If you want to invest to build savings that your child can access once they turn 18, a JISA is a right choice for you. It allows you to invest up to £9,000 per year (per child).

Building a balanced, diversified portfolio is the best way to keep your investments safe. With a Stocks and Shares ISA, you can invest in a range of investment products:

• Stocks: Stocks represent ownership in a company, expressed through shares.

• Mutual funds: Mutual funds are a type of group investment in stocks, bonds and other assets, managed by a professional fund manager. It lets you take part in high-profile portfolios which might have been inaccessible to you as an individual investor.

• ETFs: ETFs are similar to mutual funds, but they can be bought or sold on a stock exchange.

• Index funds: An index fund is a type of mutual fund which mirrors a stock market index. For example, an FTSE 100 index fund can consist of all FTSE 100 companies’ shares.

• Bonds: Bonds are a debt security, and they could belong to a government or corporate institution. The borrower needs to repay you the money after a certain amount of time.

Here’s how these investment products compare for different levels of risk exposure, average returns, and key features: