Reviewing Invest Engine the Investment App
InvestEngine is an innovative investment platform offering a user-friendly experience for novice and seasoned investors.
With a focus on Exchange-Traded Funds (ETFs), it provides a range of features designed to simplify the investment process and help users grow their wealth.
Key Features of InvestEngine
- Diverse ETF Selection: InvestEngine offers access to over 760 ETFs from leading providers like iShares and Vanguard, allowing investors to build diversified portfolios tailored to their preferences.
- No Commission Fees: One of the standout features is the absence of buying and selling fees for ETFs, making investing more cost-effective.
- User-Friendly App: Available on both iOS and Android devices, the InvestEngine app provides powerful tools for automating, diversifying, and analysing your portfolio, ensuring you have all you need to manage your investments on the go.
- LifePlan Portfolios: In December 2024, InvestEngine introduced ‘LifePlans’, a range of five globally diversified portfolios featuring a mix of equities and bonds. These portfolios are designed to simplify the investment process for users seeking a more hands-off approach.
Account Options
InvestEngine provides flexibility with its account types
- Individual Savings Account (ISA): Benefit from tax-free investing with no additional fees.
- General Investment Account: No minimum investment limits, allowing you to start with as little as £100.
- Business Account: Tailored for companies looking to invest surplus funds.
It’s important to note that while InvestEngine offers a wide range of ETFs, it does not currently provide options for investing in individual company shares.
If you’re interested in purchasing specific stocks like Google or Netflix, you might need to consider other platforms.
Fees and Charges
InvestEngine stands out for its competitive fee structure:
- DIY Portfolios: No platform fees, allowing you to manage your investments without incurring additional costs.
- Managed Portfolios: A low annual fee of 0.25%, which is competitive compared to other platforms that may charge between 0.45% to 0.75%
Remember that while InvestEngine doesn’t charge for buying or selling ETFs, the ETFs themselves may have low charges.
Getting Started with InvestEngine
Starting with InvestEngine is straightforward:
- Sign Up: Create an account on their website or mobile app.
- Choose Your Investment Style: Opt for a DIY portfolio if you prefer hands-on management, or select a managed portfolio for a more automated approach.
- Fund Your Account: Begin investing with a minimum of £100.
- Build or Select a Portfolio: Choose from a wide range of ETFs to build your portfolio or select a pre-made LifePlan that aligns with your investment goals.
Is InvestEngine Right for You?
InvestEngine is ideal for investors seeking a low-cost, user-friendly platform focusing on ETFs. Its diverse range of investment options and competitive fee structure make it a compelling choice for both beginners and experienced investors.
However, you might need to explore other platforms if you’re interested in investing in individual stocks or require specific account types like a Self-Invested Personal Pension (SIPP).
I use Pensionbee which I have written a full breakdown of here if you want to read more about why I think it’s a great platform.
As with any investment platform, it’s essential to assess your individual needs and consider consulting with a financial advisor to ensure it aligns with your financial goals.
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