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CMC Markets launches flexible stocks and shares Isa

CMC Invest users can now open a flexible stocks and shares Isa on the platform with new Plus plan for just £10 a month

  • CMC Markets launched a DIY investment app in September
  • Its Plus plan, which costs £10 a month, offers a flexible stocks and shares Isa
  • New customers will receive a £50 welcome bonus and three months free

Products featured in this article are independently selected by This is Money’s specialist journalists. If you open an account using links which have an asterisk, This is Money will earn an affiliate commission. We do not allow this to affect our editorial independence.

The market for investing apps has been hotting up for some time, in large part thanks to the success of Freetrade and a growing demand for ‘democratising’ investment.

With platforms battling it out to become the best in class, CMC Markets now wants a piece of the action.

In September, the company, which primarily offers spread betting and CFDs, launched CMC Invest to offer customers share dealing in the UK and US. 

Previously, a general investment account (GIA) was the only option for investing through the app but now investors can now open an Isa.

CMC Markets launched its investment platform in September as it looks to take advantage of a growing pool of novice investors

Its free core product still offers a GIA and trading in over 1,100 US shares, 100 UK shares and over 300 ETFs and investment trusts.

Its Plus plan, which costs £10 a month, will allow customers to open a flexible stocks and shares Isa, meaning they can withdraw money from their account and put the money back in within the same tax year without affecting their Isa allowance.

New customers will be gifted a £50 bonus and three months free on the Plus plan, among the most generous welcome offers among the low-cost platforms. 

Albert Soleiman, head of CMC Invest UK said: ‘We want our customers to feel empowered to make choices that suit their own investment journey.

‘A flexible stocks and shares Isa isn’t typically offered on other investment platforms – we are fortunate with our technology to be able to offer this to clients giving them more flexibility to invest how and when they want.’

The Plus plan also offers a US dollar wallet for those with a GIA, alongside the default GBP wallet that comes with all CMC Invest accounts. 

This will allow investors to convert cash to USD and hold it until it’s needed to buy US stocks, which the platform says will save customers money on FX fees.

CMC Invest currently charges 0.5 per cent in FX fees when converting GBP into USD.

Investors that already hold a GIA and/or stocks and shares Isa can transfer their portfolio at no cost but the existing provider may charge an exit fee.

The platform says it will soon introduce a Premium plan with a Sipp and other features, although it is unclear how much it will cost customers at this stage. 

How does CMC Invest compare to other platforms?

The market for low-cost investment platforms has become increasingly crowded in recent months. 

AJ Bell this year announced the launch of its own investment app Dodl as it looks to take on the likes of Freetrade and Trading 212.

Like CMC Invest, it’s free to open a Dodl account but it charges 0.15 per cent of the value of investments held in each account per year. It’s paid monthly and is a minimum £1 a month.

This year Freetrade* surpassed 1million subscribers due to its generous referral scheme and low cost plans.

Its basic plan offers a GIA, commission-free trades and US fractional shares for free but just 1,500 stocks are on offer.

Its standard plan costs £4.99 a month and customers can open a GIA and stocks and shares Isa, although this is a standard Isa and not the flexible one offered by CMC.

Freetrade also offers a Sipp for Plus customers, which costs £9.99 a month.

Interactive Investor also recently slashed its share and fund dealing charges to stay competitive.

In September, the standard online dealing charge for UK and US trades was cut from £7.99 to £5.99 for ii’s standard Investor plan* as well its Pension Builder Sipp plan.

Compare the best DIY investing platforms and stocks & shares Isa

Investing online is simple, cheap and can be done from your computer, tablet or phone at a time and place that suits you.

When it comes to choosing a DIY investing platform, stocks & shares Isa or a general investing account, the range of options might seem overwhelming. 

Every provider has a slightly different offering, charging more or less for trading or holding shares and giving access to a different range of stocks, funds and investment trusts. 

When weighing up the right one for you, it’s important to to look at the service that it offers, along with administration charges and dealing fees, plus any other extra costs.

To help you compare investment accounts, we’ve crunched the facts and pulled together a comprehensive guide to choosing the best and cheapest investing account for you. 

We highlight the main players in the table below but would advise doing your own research and considering the points in our full guide linked here.

>> This is Money’s full guide to the best investing platforms and Isas 

Platforms featured below are independently selected by This is Money’s specialist journalists. If you open an account using links which have an asterisk, This is Money will earn an affiliate commission. We do not allow this to affect our editorial independence. 

DIY INVESTING PLATFORMS AND STOCKS & SHARES ISAS 
Admin charge Charges notes Fund dealing Standard share, trust, ETF dealing Regular investing Dividend reinvestment
AJ Bell YouInvest* 0.25%  Max £3.50 per month for shares, trusts, ETFs.  £1.50 £9.95 £1.50 £1.50 per deal  More details
Bestinvest* 0.40% (0.2% for ready made portfolios) Account fee cut to 0.2% for ready made investments Free £4.95 Free for funds  Free for income funds More details
Charles Stanley Direct 0.35%  No platform fee on shares if a trade in that month and annual max of £240 Free £11.50 n/a n/a More details
Fidelity* 0.35% on funds £45 fee up to £7,500. Max £45 per year for shares,  trusts,  ETFs Free £10 Free funds £1.50 shares, trusts ETFs £1.50 More details
Hargreaves Lansdown* 0.45% Capped at £45 for shares, trusts, ETFs Free £11.95 £1.50 1% (£1 min, £10 max) More details
Interactive Investor*  £9.99 per month or £12.99 for Sipp £5.99 per month back in trading credit £5.99 £5.99 Free £0.99 More details
iWeb £100 one-off £5 £5 n/a 2%, max £5 More details
Freetrade* Free for standard account £3 month for Isa  Freetrade Plus with more investments is £9.99/month inc. Isa fee No funds  Free  n/a  n/a  More details 
Vanguard  0.15%   Only Vanguard funds Free  Free only Vanguard ETFs  Free  n/a  More details 
(Source: ThisisMoney.co.uk June 2022. Admin charges quoted annually, may be monthly or quarterly)
 

 

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