InvestEngine review

How we rated InvestEngine's investment features

InvestEngine is a relatively new share trading platform that focuses purely on exchange-traded funds (ETFs). You can choose between ready-made portfolios or a DIY option, picking your own ETFs to invest in.

You can invest in a stocks and shares ISA, a general investment account (GIA), or a self-invested personal pension (SIPP) with InvestEngine.

Find out what we thought of InvestEngine in our review, looking at the types of investments available, how the platform works, and the fees.

Hands-on test: I tried out InvestEngine's investing platform and app

"Along with being super cheap (free for DIY investors), InvestEngine has some brilliant features on its app like the portfolio analytics feature which actually lets you see what you’re investing in with your ETFs (you might think this is an obvious inclusion, but many platforms don’t clearly display this info).

My only gripe with InvestEngine is that I found the process of investing slightly clunky and could be a little smoother. I feel like ETF investors like to keep things simple, so the app doesn’t need to be quite so “busy”, and instead focus on making the investing and portfolio-building process slightly more intuitive."

George Sweeney, DipFA

Deputy editor

InvestEngine fees

Overall, InvestEngine provides excellent value (even though there are limitations around investment choice). There are no platform fees or commissions for InvestEngine’s DIY portfolios. You read that right, zero fees from the platform. Remember, there are ongoing fees charged by the funds themselves but these are outside the control of InvestEngine.

If you opt for the managed portfolio option, it’s a straightforward 0.25% based on the size of your ETF portfolio. The only downside is that this suits smaller portfolios and a flat monthly fee can work out cheaper once your portfolio breaches certain size thresholds.

We’re big fans of the fact that InvestEngine doesn’t charge additional fees to use a stocks and shares ISA, making this platform an excellent place to hold all your ETFs within a free tax wrapper.

InvestEngine investment choice and stocks

InvestEngine has limitations when it comes to investment choice, but that’s by design. If you want to access thousands of investment options, you should check out another platform.

If you want an ETF supermarket with access to big-hitting brands like Vanguard, iShares, Invesco, SPDR and more – InvestEngine might be the platform for you.

The ETF range available covers a variety of markets and regions with a collection that includes:

• Global indices
• Thematic options
• ESG-focused ETFs
• Money market funds
• Dividend ETFs
• Emerging markets

There’s no minimum monthly amount to invest, but you need at least £100 to kickstart your ETF portfolio. But then after that, you can buy fractional ETF shares with as little as £1.

InvestEngine and ETFs

If you’re looking through InvestEngine’s website you’re going to read a lot about investing in ETFs.

InvestEngine prefers to use exchange-traded funds (ETFs) when building portfolios. In short, this is because ETFs are usually cheap, easy to trade, and track the movement of markets with a good level of accuracy.

ETFs hold a basket of assets and usually track a benchmark or index like the FTSE 100 or the S&P 500, but they can also do so much more – exploring all corners of the investing universe.

InvestEngine LifePlans

The latest edition to InvestEngine’s investment roster is the newly added “LifePlans”.

There are 5 LifePlans to choose from and each one bundles together a range of ETFs into a single, actively-managed portfolio investment, and you get to select your split between bonds and equities:

1. LifePlan 20% equity
2. LifePlan 40% equity
3. LifePlan 60% equity
4. LifePlan 80% equity
5. LifePlan 100% equity

Typically, a higher equity allocation can allow better growth, but a higher bond allocation can reduce your volatility (but likely lower growth). So, the lower equity percentages have a lower risk rating as they should be more stable in terms of price movements.

You can hold an InvestEngine LifePlan portfolio in any of the accounts and each comes with a 0.25% management fee plus an ongoing Total Expense Ratio (TER) of between 0.11% and 0.15%. Essentially, LifePlans are an alternative to a fully-managed portfolio as you get a certain level of control without having to pick all the individual ETFs yourself. So they sit somewhere inbetween DIY and managed.

Is InvestEngine safe?

InvestEngine is regulated by the Financial Conduct Authority (FCA) and you’ll also be covered by the Financial Services Compensation Scheme (FSCS), which means up to £85,000 of your deposits and investments are covered if InvestEngine ever goes bust.

Connections to InvestEngine’s website are protected with advanced SSL 256‑bit encryption techniques to make sure that your personal information is protected round the clock and all data is housed on servers in a secure facility.

InvestEngine account types and products

The range of accounts with InvestEngine includes a GIA, a stocks and shares ISA (for no added fee), and a SIPP (for no added fee). There is also a business account available if that suits your needs.

InvestEngine general account

You can start with an initial £100 investment and there’s no limit on how much you can invest. Either by choosing your own portfolio or selecting a managed one for a 0.25% annual fee.

With this account you might have to pay dividend or capital gains tax (CGT) on your profits. You only really want to use this if you’ve already paid into an ISA elsewhere or have used up your yearly allowance.

InvestEngine ISA

With the InvestEngine ISA, you can use your annual ISA allowance to invest and shield returns from tax. The allowance for the 2024/2025 tax year is £20,000.

InvestEngine’s stocks and shares ISA is great value – it costs nothing extra. So, it’s well worth using your ISA allowance before you invest with the GIA.

Again, you can opt for the DIY portfolio or managed option using the ISA and you get access to the full range of ETF options.

InvestEngine also offers a free ISA transfer service if you want to switch over to them.

Keep in mind, tax treatement depends on personal circumstances and may be subject to change.

InvestEngine SIPP

The latest edition to the InvestEngine account line up is a self-invested personal pension (SIPP).

True to character, InvestEngine has released one of the cheapest SIPPs available to UK retirement savers. This SIPP has no account fee and, like with the other InvestEngine accounts, you can choose to make your own DIY ETF portfolio or opt for a managed portfolio.

If you want to use the managed portfolio option, where the InvestEngine experts will control your retirement investments for you, there’s an additional 0.25% fee – which is still pretty cheap compared to most other platforms.

With the InvestEngine SIPP, you get access to all the same great features as the other accounts, including the large library of ETFs to choose from, but you also get the benefit of tax relief from the UK government. So, anything you contribute will be topped up based on your income tax bracket.

Standard pension rules apply and tax rules are subject to change.

InvestEngine business account

This account is quite unique and not something offered by most providers. It’s designed to be used for businesses that have some surplus money that they’d like to invest.

It’s a potential way to earn better returns on the money sitting in your bank account. The money can be accessed whenever you want, but any tax advantages depend on your business circumstances.

The concept for this account made more sense when we were in an environment of rock-bottom rates. Now that you can get a decent return on cash in the bank, this account may not be so appealing.

InvestEngine ready-made portfolios

InvestEngine’s ready-made portfolios are fully managed. As with other robo-advisors, your portfolio depends on your risk appetite. It asks you a set of questions that helps the platform understand how you feel about risk to suggest a portfolio for you.

InvestEngine automatically rebalances your portfolio to ensure it stays aligned with your investment goals. The main benefit is that the investment team keeps an eye on your portfolio to make sure it remains well-positioned for the latest market conditions.

Previously, you could choose between growth or income portfolios – but now InvestEngine only offers growth options (which is what many of us want from our investments).

How to invest in a ready-made portfolio with InvestEngine:

1. Choose what sort of portfolio you want. You can choose a growth option based on your risk tolerance.
2. Choose an account. You can invest in an ISA, SIPP, GIA, or a business account.
3. Answer some questions. These are mainly about your investment goals and how much risk you’re comfortable with.
4. Look at the portfolio InvestEngine matches to you. This will be made up from a selection of ETFs matched to your needs.
5. Fund your account. You can start with just £100 and invest from £1 after that.
6. InvestEngine manages your portfolio for you. It’s as easy as that. InvestEngine will constantly adapt your portfolio to keep you on track.

InvestEngine DIY portfolios

InvestEngine’s DIY option lets you choose which ETFs you want to be invested in. There’s more than 700 available on the platform, including ESG options. Once you’ve chosen which ones you want to invest in, you can choose how they’re weighted, so you don’t have to be invested equally in each fund.

There’s more information about choosing which ETFs you want to invest in with InvestEngine’s screener below.

Once you’ve created your portfolio, you simply need to make your first deposit. InvestEngine has a one-click “Rebalance Portfolio” feature, which means that as the markets rise and fall, your portfolio stays consistently balanced to the weights you have chosen.

You also don’t need to set up ETF trades — you can buy and sell based on your portfolio weights, so all future top ups can be automatically organised.

InvestEngine ease of use

InvestEngine scored decently in our ease of use assessment. It’s an excellent app and web platform that’s easy to get the hang of. One downside is that you can only contact the customer service team via an online form or through social media.

Overall, customers seem to really enjoy the platform on mobile and desktop – we tend to agree. InvestEngine has built a brilliant app and there’s lots of cool features, including the one-click portfolio rebalancing and the AutoInvest option to make sure you stay fully invested.

On the App Store, InvestEngine scores 4.8 out of 5, and on Google Play it has a slightly lower 4.5 out of 5 (as of November 2024). However, there’s not many reviews available as it’s a relatively new platform.

InvestEngine customer reviews

InvestEngine was a tied winner for the investing category in the Finder Customer Satisfaction Awards in 2024 , with 97% of customers saying they’d recommend the service to a friend. Feedback included praise for low fees and excellent customer service, and many customers described InvestEngine as “easy to use”.

One customer commented: “It’s easy to use and I feel like it’s more reliable than most share dealing companies.”

Surprisingly, there were no negative comments or criticisms.

Trustpilot reviewers gave InvestEngine a 4.6 out of 5 “Excellent” rating, with investors particularly liking the user interface and value provided (as of November 2024).

In other user reviews provided to Finder, InvestEngine scored 4.6 out of 5, with plenty of positive feedback relating to the platform.

InvestEngine tools, resources and features

With the goal of keeping things simple on the investing side of things, InvestEngine still has plenty of tools, features and resources for you.

The notable standout features include:

• Savings Plans. The ability to schedule your ETF investments on a monthly, fortnightly or weekly schedule.
• AutoInvest. Ensures any spare cash in your account is put to work to keep you fully invested.
• One-click rebalancing. As your portfolio shifts over time, you can rebalance everything to your desired allocations with just a single click.
• Beta. This is an indication of the market risk that the stock faces. It assesses how exposed a company is to factors that are impacting the whole market.
• Portfolio and fund look-through. ETFs contain whole baskets of investments and the look-through feature means you can see at a glance what’s held in the funds (or your portfolio).

InvestEngine also offers some decent guides and articles to help you learn more about investing and there’s an active community forum for a social aspect.

How to choose ETFs with InvestEngine

One of the things we really like about InvestEngine is its ETF screener. It’s really easy to use and explains key terms, something a lot of providers fail to do. You can filter the list of ETFs by their asset classes, whether they accumulate or distribute dividends, ESG scores and whether they are currency hedged.

When you’ve chosen a few ETFs, you can see a pie chart with your breakdown based on assets, regions and sectors. This can help you create a well diversified portfolio. Plus, you can keep tweaking even after you’ve started investing, which we like.

InvestEngine mobile and web apps

InvestEngine can be accessed on its website as well as with a mobile app. You can top-up within the app and see your dashboard to manage your account. It lets you see what you’re invested in and a percentage of how much of your portfolio is in each investment.

When choosing investments, you can see the full holdings of each ETF, giving you great control over your individual investments.

For those investing in ready-made portfolios, it’s also got some handy in-app calculators to help you understand how your savings could grow based on one-off investments, how much you plan to invest each month, your risk profile and timeline.

InvestEngine referral programme

InvestEngine has an excellent referral programme that can kickstart your portfolio with a bonus of between £10 and £50 when you invest at least £100.

When you sign up, you can qualify for a randomly generated bonus. You need to remain invested for 12 months to keep it (check the full T&Cs on the website. Capital at risk.).

What’s even better is that you can refer up to 25 of your friends and family, with the chance of earning an extra £50 each time!

Get started by visiting InvestEngine and opening an account. Still not sure? Compare other share trading platforms with our comparison table.

Who might InvestEngine suit?

This platform is going to be best-suited for those who want to invest in ETFs and pay the lowest fees around, it’s cheaper to buy Vanguard ETFs on InvestEngine than it is to go direct with Vanguard! You’re able to use an ISA or a SIPP and you can let InvestEngine manage your portfolio for a fee, but just remember you can’t trade individual stocks here.

If that’s not you, why not compare share trading platforms to find the right fit to match your style.