Updated September 28, 2026 · SumCue Editorial Team
AJ Bell vs Nutmeg
AJ Bell
Nutmeg
Higher score in this comparison
AJ Bell vs Nutmeg: the differences
| Compare | AJ BellReviewSee alternativesSee alternatives | NutmegReviewSee alternativesSee alternatives |
|---|---|---|
| Minimum deposit | £25Lower | £500 |
| Stock trade fee | £5 | £0Lower |
| Regulators | Financial Conduct Authority (FCA) | Financial Conduct Authority |
| Deposit and withdrawal fees | Free withdrawals | no set-up, trading or exit fees |
| Platforms | Web platform, Mobile app | Web, Mobile app |
| Account types | ISA, SIPP, Lisa, JisaCovers more | ISA, SIPP |
| Account fee | £3.50 | Not confirmed |
| Currency conversion fee | 0.75% | Not confirmed |
Same on both: Markets (Stocks, ETFs, Bonds, Funds), Investor protection (FSCS up to GBP 85,000).
We earn a commission when you sign up through links on this site. Partner status can affect where a brand appears in our rankings. Partners with a live offer in your country come first, then every other brand by score.
Key differences
- Nutmeg scores higher overall: 9.2 vs 8.7.
- Regulators: only AJ Bell offers Financial Conduct Authority (FCA).
- Regulators: only Nutmeg offers Financial Conduct Authority.
- Minimum deposit is lower at AJ Bell: £25 vs £500.
- Stock trade fee is lower at Nutmeg: £0 vs £5.
- Platforms: only AJ Bell offers Web platform.
- Platforms: only Nutmeg offers Web.
- Account types: only AJ Bell offers Lisa, Jisa.
- Support channels: only Nutmeg offers Email, Phone.
- Pricing model: only AJ Bell offers Low fees.
Our verdict on each
AJ Bell
AJ Bell suits UK savers who want a dealing platform, a pension and a tax wrapped account in the same place, with stated protection of FSCS up to GBP 85,000 for careful planners. The per-deal charge of £5 makes it a weaker fit for frequent traders.
Nutmeg
Nutmeg keeps the running cost of a managed portfolio low and the paperwork light, which suits UK savers who want an ISA or SIPP without choosing investments themselves. The catch sits in the entry bar: the minimum deposit is £500 and fees of 0.25% to 0.75% a year apply.
Score breakdown
| Area | AJ Bell | Nutmeg |
|---|---|---|
| Cost | 8.5 | 9.2HigherCosts are the management fee of 0.25% to 0.75% a year, with trading adding £0 and no set-up, trading or exit fees. |
| Offer | 9.2 | 9.5Higher |
| Trust | 8.6 | 9.1Higher |
Side by side, item by item
| Markets | AJ Bell | Nutmeg |
|---|---|---|
| Stocks | Yes | Yes |
| ETFs | Yes | Yes |
| Bonds | Yes | Yes |
| Funds | Yes | Yes |
| Account types | AJ Bell | Nutmeg |
|---|---|---|
| ISA | Yes | Yes |
| SIPP | Yes | Yes |
| Lisa | Yes | No |
| Jisa | Yes | No |
Pick AJ Bell if, pick Nutmeg if
Pick AJ Bell if minimum deposit and account types matter most.
Pick Nutmeg if cost, offer, trust, and stock trade fee matter most.
How they place
| Ranking | AJ Bell | Nutmeg |
|---|---|---|
| Investing | 293 of 654 | 133 of 654 |
| Stock and ETF brokers | 213 of 358 | 94 of 358 |
| Stocks and shares ISAs | 14 of 25 | 5 of 25 |
| Pensions and SIPPs | 10 of 23 | 3 of 23 |
Every fact side by side
| Fact | AJ Bell | Nutmeg |
|---|---|---|
| Features | Mobile app | Mobile app |
| Pricing model | Low fees | Commission free |
| Legal entity | AJ Bell | J.P. Morgan Personal Investing Limited |
| Headquarters | United Kingdom | United Kingdom |
| Founded | Not confirmed | 2012 |
| Support channels | Chat, Help centre | Email, Chat, Phone, Help centreCovers more |
Where each stands against the rest
| Fact | AJ Bell | Nutmeg | Median |
|---|---|---|---|
| Minimum deposit | £25above the median | £500highest quarter | £15 |
| Stock trade fee | £5highest quarter | £0at the median | £0 |
| Account fee | £3.50above the median | Not confirmed | £0 |
| Currency conversion fee | 0.75%above the median | Not confirmed | 0.4% |
Median across 77 listed providers.
Pros and cons
AJ Bell
Pros
- The account fee of £3.50 is a set figure on the dealing account, which makes the holding cost easy to budget.
- You can open an account from a minimum deposit of £25, a small opening balance for a dealing platform.
- The accounts listed as isa, sipp and lisa mean an individual savings account, a pension, a lifetime account and a junior account all sit with the same provider.
Cons
- Each deal costs £5, so the platform punishes anyone who trades often rather than holds.
- Support runs on chat and help centre only, so anyone who wants a phone line will not find one here.
- Currency conversion adds 0.75% on top of the dealing charge, so a global portfolio carries a further, quieter cost.
Nutmeg
Pros
- Trading adds £0, and set-up, trading and exit fees do not run on the account, so moving money in or out costs nothing extra.
- Regulated by the Financial Conduct Authority, with investor protection of FSCS up to GBP 85,000 behind the balance.
- Support runs on email, chat and phone, so help is available by phone and live chat as well as in writing.
Cons
- A £500 minimum deposit and a minimum investment of £100 to £500 put Nutmeg above Axos Invest, which lists $100.
- A quarter of robo-advisors charge 0% in management fees, so fees of 0.25% to 0.75% a year are not the lowest rate around.
- Account choice is limited to isa and sipp, with no general investment account in the range.
Who each suits
AJ Bell
Who it suits
- Savers who want a dealing account and a pension under the same regulated firm, since the accounts listed as isa, sipp and lisa cover the main UK wrappers.
- People who plan to hold rather than trade often, because the per-deal charge of £5 works against frequent dealing.
- Investors who put weight on UK oversight and a stated protection limit, given Financial Conduct Authority (FCA) and FSCS up to GBP 85,000.
Who should look elsewhere
- Anyone starting with a smaller sum than £25, where CFI lists a minimum deposit of $0.
- People who want a phone conversation with support, since help here runs on chat and help centre only; bunq suits those after a bank relationship rather than a dealing platform.
- Anyone whose need is borrowing rather than investing, where Fiesta Credito MX sits under CONDUSEF in a different market.
Nutmeg
Who it suits
- UK beginners who want an ISA or SIPP opened without choosing individual investments.
- Savers who can fund a £500 deposit and hold the account for years rather than months.
- People happy to hand asset allocation to an algorithm across the etf, esg and cash range.
Who should look elsewhere
- eToro, which lists a management fee of 0%, if the annual charge is the number that decides it.
- Axos Invest, where a starting amount of $100 suits anyone below the £500 deposit Nutmeg asks for.
- Empower Personal Dashboard for savers who want 0% management fees rather than 0.25% to 0.75% a year.
Current offers
Nutmeg
Current offer
Bonus
Earn £100 when you invest £1,000: GBP 100 cash reward
Invest at least £1,000 in one payment into a General Investment Account, Stocks and Shares ISA, Lifetime ISA, Junior ISA or Personal Pension and keep it invested for at least 6 months; new contributions only, transfers excluded; reward paid as unallocated cash within 55 days; new clients only, cannot be combined with other new-client offers
Source, checked September 26, 2026
Country by country
| Country | AJ Bell | Nutmeg |
|---|---|---|
| United Kingdom | Yes | Yes |
Questions about each
AJ Bell
What does it cost to open and run an account?+
You need a minimum deposit of £25 to get going, which is a small opening balance for a dealing account. After that the account itself costs £3.50, and each deal you place costs £5. Add 0.75% if you convert pounds into another currency, and keep in mind that frequent trading is where a per-deal charge adds up fastest.
Is my money protected at AJ Bell?+
Your money sits with a firm regulated by Financial Conduct Authority (FCA), the UK regulator, and the stated investor protection is FSCS up to GBP 85,000. That figure is the ceiling on what the protection scheme pays if the firm fails, not a return on your investments, so a fall in the value of your holdings is not covered by it. Account opening and dealing happen under the same firm.
Nutmeg
What does Nutmeg cost to run?+
The yearly cost is a management fee of 0.25% to 0.75% a year, taken from the account. Trading adds £0, and set-up, trading and exit fees do not run on the account, so moving money in or out costs nothing extra. That annual charge is the number to compare across robo-advisors.
How much do I need to open an account?+
The minimum deposit is £500, and once the account is open the minimum investment is £100 to £500. The deposit is the amount the account has to start with, while the investment range covers the size of a single contribution or holding. Contributions above the minimum can be added as the balance grows.
Other options to compare
Other matchups
AJ Bell
Nutmeg