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Quick Verdict: AJ Bell is the UK's best mid-range investment platform - Which? Recommended for eight consecutive years (2019-2026). Platform charges are capped at £3.50 a month for shares in ISAs, making it significantly cheaper than Hargreaves Lansdown. Best for investors with £10,000 - £250,000 portfolios who want a wide range of investments at competitive fees.
AJ Bell - Key Facts 2026
Feature
Detail
Founded
1995
Listed on
FTSE 250
FCA Regulated
✅ Yes
FSCS Protected
✅ Yes - up to £85,000
Which? Recommended
✅ 8 consecutive years 2019-2026
Platform charge (funds)
0.25% per year
Shares dealing charge
£5.00 per trade
Shares platform charge cap
Capped at £3.50 a month (£42/year)
Interest on uninvested cash
✅ Yes - ISA 2.00%, SIPP 2.30-2.65%
AJ Bell Platform Charges - Full 2026 Breakdown
AJ Bell's platform charge on funds is 0.25% per year. For shares and ETFs in ISAs and general investment accounts, the platform charge is capped at £3.50 a month - meaning the maximum you pay per account is £42 per year regardless of portfolio size. This makes AJ Bell particularly cost-effective for share-heavy portfolios.
Fee Type
AJ Bell
HL
Vanguard
Platform charge (funds, under £250k)
0.25%
0.35%
0.15%
Shares/ETFs cap - ISA
£3.50/month (£42/yr)
£45/year
N/A
Shares dealing fee
£5.00/trade
£6.95/trade
N/A
Fund dealing fee
£1.50/trade
£1.95/trade
Free
Regular investing
Free (from May 2026)
Free
Free
FX fee
0.75%
1.00%
N/A
Pension transfer exit fee cover
✅ Up to £500 on £20k+ transfers
❌ No
❌ No
Account Range
Account
Available?
Platform Charge
Notes
Stocks and Shares ISAs
✅ Yes
0.25% (shares capped £3.50/mo)
Full investment range
Lifetime ISAs
✅ Yes
0.25%
Ages 18-39, 25% government bonus
Junior ISAs
✅ Yes
0.25%
Up to £9,000/year
SIPP
✅ Yes
0.25%
Which? Recommended SIPP
Junior SIPP
✅ Yes
0.25%
Pension for children
General Investment Accounts
✅ Yes
0.25% (shares capped £3.50/mo)
No annual limit
Cash ISA
❌ No
N/A
Use HL or Trading 212 instead
AJ Bell Funds and Favourite Funds List
AJ Bell investment options span shares, ETFs, funds, investment trusts, bonds and gilts across 24 international markets. AJ Bell curates a Favourite Funds List - a selection of recommended funds across different asset classes and risk levels - useful for investors who want guidance on fund selection without paying for full financial advice.
AJ Bell also pays interest on uninvested cash - 2.00% AER on ISA cash, 2.30% - 2.65% on SIPP cash depending on balance. Interest is paid quarterly and calculated daily.
AJ Bell Dodl - Simplified Investing App
For investors who want a simpler, lower-cost experience, AJ Bell offers Dodl - a stripped-back app with a 0.15% platform charge and zero commission trading. Dodl offers a curated fund selection rather than the full AJ Bell range, making it ideal for beginners who want low-cost investing without complexity.
Pros and Cons
✅ Pros
Which? Recommended 8 consecutive years 2019-2026
Platform charge capped at £3.50 a month for shares
Lower fees than Hargreaves Lansdown across all accounts
Covers exit fees up to £500 on pension transfers in
Regular investing free from May 2026
Pays interest on uninvested cash
Full range - ISAs, Lifetime ISAs, Junior ISAs, SIPP
FCA regulated, FSCS protected, FTSE 250 listed
❌ Cons
No Cash ISA wrapper
No fractional shares
More expensive than Vanguard for index fund investors
£5 per trade more expensive than commission-free platforms
Our Verdict
AJ Bell hits the sweet spot between cost, range and reliability for most UK investors. The platform charge capped at £3.50 a month for shares, combined with Which? Recommended status for eight consecutive years, makes it a compelling choice. The free pension transfer exit fee cover is a genuine differentiator. For most investors with £10,000 - £250,000 portfolios, AJ Bell is our top recommendation.
Frequently Asked Questions
Is AJ Bell regulated by the Financial Conduct Authority? Yes. AJ Bell is FCA regulated, listed on the FTSE 250 and FSCS protected up to £120,000.
What is the platform charge for shares? Capped at £3.50 a month - a maximum of £42 per year per account regardless of how much you hold in shares.
Does AJ Bell pay interest on uninvested cash? Yes - 2.00% AER on ISA cash, 2.30% - 2.65% on SIPP cash. Interest paid quarterly.
What is AJ Bell Dodl? A simplified app-only version at 0.15% with zero commission - better for beginners who don't need the full AJ Bell range.
This article is for information purposes only and does not constitute financial advice. The value of investments can go down as well as up. Capital at risk. Always seek regulated financial advice before making financial decisions.
The content on Kaeltripton.com is for informational and educational purposes only and does not constitute financial, investment, tax, legal or regulatory advice. Kaeltripton.com is not authorised or regulated by the Financial Conduct Authority (FCA) and is not a financial adviser, mortgage broker, insurance intermediary or investment firm. Nothing on this site should be construed as a personal recommendation. Rates, figures and product details are indicative only, subject to change without notice, and should always be verified directly with the relevant provider, HMRC, the FCA register, the Bank of England, Ofgem or other appropriate authority before any financial decision is made. Past performance is not a reliable indicator of future results. If you require regulated financial advice, please consult a qualified adviser authorised by the FCA.
Chandraketu Tripathi
Lead Editor · Kael Tripton
Lead editor of Kael Tripton. LBS MBA (Sloan Fellow), AI/ML postgraduate (IIIT Bangalore). 22 years in marketing and commercial roles across 23 markets. Covers UK money, tax and visas.
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