Top pensions and SIPPs compared

About Top pensions and SIPPs compared

A pension you never open is worth nothing at retirement, so cost sits at the centre of this comparison. The list covers 22 brands that let UK savers hold a pension alongside an ISA, from long-established stockbrokers to app-only platforms, and it is built for readers weighing three things together: what the wrapper costs each year, what a single deal costs, and how easily money moves in and out. The trade-off is stark. The median annual account fee here is €2.03 and the median share dealing charge is €0, so the gap between a no-fee app and a broker with a flat annual charge is worth real money over decades. Alongside cost, every brand is examined for its regulator, the protection limit attached to the account and the number of ways to get help when a transfer stalls. The median share of retail money lost across products on this site is 70.15%, which is why cost is only one part of the picture.

How we picked

Every brand is scored on three weighted measures. Trust carries the most weight at 40%, drawn from the named regulator, the legal entity that holds the account, the investor protection limit and the range of support routes. Cost counts for 35% and covers the account fee, the charge on each share dealing, the minimum needed to open and any currency fee. Offer takes the remaining 25% and reflects account types, available markets and the features that shape daily use, such as fractional shares or a demo account. Figures come from each provider's published charge sheets and pricing pages, from product pages describing account types and features, and from the register of the regulator named for each brand. Where a provider publishes a range or a cap, the range is carried through as published. Partners head the table, so sponsored slots sit above the remaining scored order.

Our top picks

1. T22. Trading 212

   Trading 212 holds its place in this ranking as the only member with a joint account alongside a SIPP. Its account fee stands at £0, share dealing costs £0, the inactivity charge is £0 and the minimum to open is £1. Trading 212 Markets Ltd holds the account, and the regulators listed are the Financial Conduct Authority and the Cyprus Securities and Exchange Commission, with investor protection of FSCS up to GBP 85,000. Fractional shares, a demo account, an app and a web platform make it easy to begin, though help runs on help centre only. Plum, just below, is commission-free in the same way and adds a LISA, but the joint wrapper here has no equivalent.

   • Minimum deposit: £1
   • Stock trade fee: £0
   • Account fee: £0

   Pros

   • Stock trades cost £0 and the account fee is £0, so holding a portfolio costs nothing
   • The inactivity fee is £0, so a dormant account is not quietly charged
   • The minimum deposit is £1, far below the €10 bunq asks
   • Cash can be held in a Cash ISA that stays open for withdrawals, on a variable rate with the interest credited monthly
   • Features listed are fractional shares, demo account and mobile app, and the platforms are Trading 212 App and Web Platform

   Cons

   • Support runs on help centre only, so there is no live phone or chat route
   • Trading 212 Markets Ltd is authorised by the Cyprus Securities and Exchange Commission on MiCA CASP 21380045KC28948FNE32, so the Financial Conduct Authority is not the only supervisor involved
   • Markets cover stocks, etfs and forex, which leaves funds, bonds and options outside the range offered here
   • The £1 minimum deposit is a floor rather than a deal size, and the Cash ISA rate is variable

2. 3. Nutmeg

   Nutmeg is in this ranking for the money going in and coming out. There are no set-up, trading or exit fees, the account is held by J.P. Morgan Personal Investing Limited under the Financial Conduct Authority, and investor protection runs to FSCS up to GBP 85,000. It deals in stocks, ETFs, funds and bonds, and support runs on email, chat and phone, the widest set of routes in the list. The cost to weigh is access: the opening minimum of £500 sits far above the app-only platforms, and the account types are a SIPP and an ISA. Freetrade, just below, starts at £1 and adds a JISA, though its currency fee of 0.99% is higher than the 0.75% Dodl charges.

   • Management fee: 0.25% to 0.75%
   • Minimum investment: £100 to £500
   • Regulators: Financial Conduct Authority

   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.
   • The commission-free model (commission free) keeps the annual management charge as the main line on the bill.

   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.
   • The line-up is etf, esg and cash portfolios only, so anyone who wants to pick individual holdings is not served.

3. 4. Moneyfarm

   Moneyfarm is in this ranking for currency and for access to help. Its foreign exchange charge of 0.7% is the lowest among the brands here, deposits and withdrawals are free, and support runs on email, phone and help centre. MFM Investment Ltd holds the account under the Financial Conduct Authority, with investor protection of FSCS up to GBP 85,000, and the model is no monthly fee. The trade-off is the cost of dealing: a share trade costs £3.95, and the opening minimum of £500 is well above the app platforms. Wealthify, just below, keeps four support routes and free deposits, withdrawals and transfers, but its minimum of £1,000 is well above the median of €29.05 in this ranking.

   • Management fee: 0.1% to 0.45%
   • Minimum investment: £500
   • Regulators: Financial Conduct Authority

   Pros

   • The monthly fee is £0, so there is no monthly account charge to plan around.
   • The Cash ISA pays a variable rate of 3.87%, where the site median is 3%.
   • Money in and out is listed as Free deposits and withdrawals, so no charge applies to funding or taking money out.
   • Support runs on email, phone and help centre, so help is not confined to a single channel.
   • Protection is FSCS up to GBP 85,000 under the Financial Conduct Authority, which sets a stated ceiling on cover in the UK.

   Cons

   • Trading is a paid extra: a stock trade costs £3.95, where the median across the site is €0.
   • The minimum investment of £500 sits well above the typical starting amount on the site, which is €25.
   • The management fee of 0.1% to 0.45% runs every year, where eToro and Empower Personal Dashboard list fees of 0% and 0%.
   • A currency conversion fee of 0.7% applies, which adds a further layer on top of the management fee of 0.1% to 0.45%.

4. 5. Charles Stanley Direct: best for top-pick

   Charles Stanley Direct takes the top pick in this ranking, pairing a SIPP and an ISA with a long trading history. It has been trading since 1792, and the account is held by Raymond James Wealth Management Limited under the Financial Conduct Authority. Support runs on email and phone, and you can start with £1 in stocks, ETFs and funds. The trade-off is cost: account fees run £60 to £600 and a share dealing costs £10. Moneybox, just below, adds a LISA and a JISA to its SIPP and offers fractional shares and a demo account in its app.

   • Minimum deposit: £1
   • Stock trade fee: £10
   • Account fee: £60 to £600

   Pros

   • Regulated by the Financial Conduct Authority, with holdings covered by FSCS up to GBP 85,000.
   • Minimum deposit of £1 keeps the entry point small for regular investors.
   • Available account types are isa and sipp, so tax-sheltered saving and pension investing sit with the same broker.
   • Help runs on email and phone, and a phone line is listed, so a stuck transfer or withdrawal can be chased.
   • The group behind the platform dates back to 1792, and the operating company is Raymond James Wealth Management Limited.

   Cons

   • Account fees of £60 to £600 a year apply regardless of balance, so a small pot pays the same as a large holding.
   • Stock trades cost £10, against a typical €0 across the brands compared, so frequent dealing costs more.
   • Support runs on email and phone only, so there is no listed chat channel or branch counter for anything else.
   • Dealing covers stocks, etfs and funds, so readers wanting bonds, cash or more exotic instruments find a shorter list.

5. 6. Plum

   Plum sits in this ranking because it costs nothing to hold and nothing to trade. The account fee is £0, share dealing costs £0 and the opening minimum is £2, with Plum Fintech Limited holding the account in the UK under the Financial Conduct Authority and investor protection of FSCS up to GBP 85,000. You can hold a SIPP, an ISA or a LISA, buy fractional shares in the mobile app and reach support on email and help centre, while the platforms list is the mobile app alone. Founded in 2016 and aimed at beginners. Nutmeg, just below, also deals without commission and adds bonds, but it asks for a much larger opening amount of £500.

   • Minimum deposit: £2
   • Stock trade fee: £0
   • Account fee: £0

   Pros

   • Fractional shares are offered, so £2 is enough to hold a slice of a company rather than whole shares.
   • Eligible money is covered by the protection scheme, with the ceiling given as FSCS up to GBP 85,000.
   • The account types cover isa, sipp and lisa, so investing, retirement saving and a home deposit pot sit with the same provider.
   • Access runs through Mobile app, which keeps dealing straightforward for small, regular buys.

   Cons

   • Markets stop at stocks, etfs and funds, so there is no dealing in listed bonds, overseas currency or crypto through the account.
   • Help runs on email and help centre only, so a stuck withdrawal or transfer has no phone route.
   • Managed portfolios charge 0.15% to 0.6%, which takes a slice from every pot you hand over.

6. 7. Dodl

   Dodl is in this ranking for the fee structure: share dealing costs £0, deposits and withdrawals are free, and the foreign exchange charge is 0.75%. It is built for beginners, runs from the Dodl app, and covers a SIPP, an ISA and a LISA in stocks, ETFs and funds. The account is held by AJ Bell under the Financial Conduct Authority, with investor protection of FSCS up to GBP 85,000, and support runs on email, chat and help centre. What to weigh is access and currency: the opening minimum of £25 is above some apps here, and the currency charge adds up for a global portfolio. Trading 212, just below, also deals without commission but reaches into forex and CFDs and adds a joint account.

   • Minimum deposit: £25
   • Stock trade fee: £0
   • Markets: Stocks, ETFs, Funds

   Pros

   • Commission-free dealing: £0 to buy or sell shares, with free deposits and withdrawals either side of the balance.
   • An ISA, SIPP and LISA sit alongside stocks, etfs and funds in a single app, so wrappers and dealing stay in one place.
   • Regulated by the Financial Conduct Authority, with investor protection of FSCS up to GBP 85,000.
   • Cash waiting to be invested earns 3.8%, so an uninvested balance is not idle.
   • On stock trade fees, position 1 of 166 brands ranked on that measure.

   Cons

   • Foreign exchange costs 0.75%, so currency conversion is the charge that bites anyone buying shares outside sterling.
   • Help runs on email, chat and help centre, with no phone route among them, so a complex dispute has to be put in writing.
   • The market list is stocks, etfs and funds, which leaves out bonds, commodities and currency pairs.
   • The minimum deposit of £25 ranks position 131 of 218, so a smaller opening amount is available elsewhere.

7. 8. Freetrade

   Freetrade earns a place in this ranking on breadth of wrappers and a low entry point. The account fee is £0, share dealing costs £0 and the minimum is £1, with Freetrade Limited holding the account under the Financial Conduct Authority and investor protection of FSCS up to GBP 85,000. You can hold a SIPP, an ISA or a JISA, trade stocks, ETFs, bonds and funds from the app or the web platform, and buy fractional shares, while cash held earns interest at 1%. The cost to watch is currency, at 0.99%. Moneyfarm, just below, charges less on currency at 0.7% and runs on a no monthly fee model, but takes £3.95 a share trade and asks for £500 to open.

   • Minimum deposit: £1
   • Stock trade fee: £0
   • Account fee: £0

   Pros

   • Dealing is commission free: the stock trade fee is £0 and the account fee is £0, so keeping the account open costs nothing in fees.
   • A minimum deposit of £1 lets a position build up gradually, and cash waiting to be invested earns 1%.
   • The account list is isa, sipp and jisa, so a pension, a tax-sheltered investment account and a junior account sit under the same login.
   • Built for beginners, with a stated audience of beginners and features covering fractional shares, mobile app and demo account.
   • Regulated by Financial Conduct Authority (FCA) with investor protection of FSCS up to GBP 85,000, so holdings sit with a regulated firm.

   Cons

   • Currency conversion costs 0.99%, where the typical fee across ISA and SIPP listings is 0.75%, putting it at the pricier end of that set for anyone buying in dollars or euros.
   • Support runs on email, chat and help centre only, with no phone line among them, which is awkward when a position is moving fast.
   • The market list stops at stocks, etfs and bonds, so anyone wanting forex or derivatives finds fewer instruments here than at a trading-focused broker.

8. 10. AJ Bell

   AJ Bell completes this ranking with the widest set of tax-wrapped accounts: a SIPP, an ISA, a LISA and a JISA, opened from £25. The account is held by AJ Bell under the Financial Conduct Authority, with investor protection of FSCS up to GBP 85,000, and you can use the web platform or the mobile app to trade stocks, ETFs, bonds and funds. Withdrawals are free and the foreign exchange charge is 0.75%. The costs that decide its place are the standing ones: an account fee of £3.50 and £5 for each share deal, and help runs on chat and help centre only. Wealthify, just above, keeps phone support and free transfers, but asks for a far larger opening amount.

   • Minimum deposit: £25
   • Stock trade fee: £5
   • Account fee: £3.50

   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.
   • Trading runs on a Web platform and Mobile app basis, so the same account works on a phone and on a computer.
   • Oversight comes from Financial Conduct Authority (FCA), the UK regulator, with stated protection of FSCS up to GBP 85,000.

   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.
   • The minimum deposit of £25 sits above the entry point at CFI, which lists $0.

What to look for

Annual account fee

The median in this ranking is €2.03 and the figure at the top of the range is €154.57. A flat annual charge on a SIPP keeps taking money while markets move, so a no-fee wrapper is worth searching out.

Cost of a share dealing

The median share dealing charge here is €0, reaching €11.62 at the top end. Commission-free apps hold costs down for anyone investing often in small amounts.

Minimum to get started

The median opening amount is €29.05, with the lower quartile at €1.45 and the upper quartile at €581.09. A small minimum matters when you would rather start with a modest monthly amount than a lump sum.

Foreign exchange cost

The median currency fee in this ranking is 0.75%, the lowest at 0.7% and the highest at 0.99%. A global fund portfolio pays this on every conversion, so it is worth checking before you buy.

Wrappers for the whole family

A SIPP appears on 100% of the ranking, with LISA and JISA options on 27.3% and 40.9%. Parents saving for a child have real choices.

Support when a transfer stalls

A help centre is the most common route here, appearing on 84.2% of the ranking, ahead of email at 52.6%. Phone support sits on 47.4%, so check it if a transfer is time sensitive.

Frequently asked questions

Top pensions and SIPPs compared by country

• Italy
• United Kingdom
• United States

Providers compared head to head

• InvestEngine vs Wealthify
• InvestEngine vs ii
• InvestEngine vs J.P. Morgan Personal Investing
• Wealthify vs ii
• Wealthify vs J.P. Morgan Personal Investing
• ii vs J.P. Morgan Personal Investing

The data behind this ranking

All data and the CSV