Interactive Investor Review

General Information

Interactive Investors is one of the biggest stockbroking firms in the UK and potential customers can open accounts with the firm with no minimum amount required. It is best suited to those that want to invest their money in UK only firms and there is also a much more limited amount of products available in comparison to many other online trading companies. For that reason, it is probably not suited to those wishing to try out more complicated investments from around the world. 

Being based in the UK means that it is subject to regulation from the Financial Conduct Authority meaning that what it does provide is safe from illegal or negligent activity. 

“One of the UK’s biggest stockbroking firms, focussing on British investments.”
Interactive Investor

Platform

Even novices will find Interactive Investor easy to use to place trades and manage portfolios. However, it is let down somewhat by the fact that it cannot be customized meaning that customers may not be able to leverage the technology to its true potential. Customization allows for improved individual usage, so it’s a shame that the company has not implemented this helpful feature. Additionally, it does not require a two factor authentication process to log in which is more susceptible to online crime than accounts that have a two stage procedure. 

Ultimately, though, placing different types of orders is quick to do and the layout of the interface is clear as well as intuitive. The mobile app is not quite as competent as the web portal but it is adequate should users need to make trades on the go.

Opening An Account

Like many of its competitors, Interactive Investors have an online application process with no minimum deposit required to open an account. It is quick to complete the online registration form and, importantly, there are a wide range of accounts that customers can open - from a basic trading account to a spread trading and CFD account for the more experienced trader. All in all, it should take under 15 minutes to send off an application which requires a government issued ID and a recent bank statement or utility bill. Accounts can then be verified in under 2 days. Potential customers should be aware however, that there is a monthly fee to pay to use Interactive Investors’ services.

Interactive Investor

Customer Service

Despite being an online service, Interactive Investors sadly does not provide a live chat service that can help provide quick customer support. Instead, customers can contact the company via email or on the phone. Response times are quick for email queries, with customers finding that they receive an answer in under a day. If using the phone, customers will not be put on hold for long and the customer service reps are knowledgeable and helpful. The customer support centers are open early in the morning at 07.45, which is great to see, but sadly close at 17.30. It is a shame that there is not a person available to answer queries 24/7.

Conclusion

Interactive Investors is an excellent option for those either based in the UK or those wishing to trade heavily in UK markets. Its intuitive and user friendly platform makes staying on top of investments quick and easy, while its swift online application process is painless too. While the company may not be suitable for those wishing to structure an international portfolio or one with many different asset classes, it is great that an Interactive Investors account can be opened with no minimum amount required in terms of a deposit.

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