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Nutmeg review

Updated September 28, 2026 · SumCue Editorial Team · Facts checked September 26, 2026

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Our verdict

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.

Key facts

Best for
A set and forget ISA or SIPP for UK beginners who want low ongoing costs and a cash option inside the same account.
Management fee
0.25% to 0.75%↗
Minimum investment
£100 to £500↗
Regulators
Financial Conduct Authority↗
Investor protection
FSCS up to GBP 85,000↗
Account types
ISA, SIPP↗
Portfolio types
ETF, ESG, Cash↗
Legal entity
J.P. Morgan Personal Investing Limited↗
Headquarters
United Kingdom↗
Founded
2012↗
Support channels
Email, Chat, Phone, Help-centre↗
Official website
nutmeg.com

Brokers

Minimum deposit
£500↗
Stock trade fee
£0↗
Markets
ETFs, Funds, Stocks, Bonds↗
Deposit and withdrawal fees
no set-up, trading or exit fees↗
Platforms
Web, Mobile app↗
Features
Mobile app
Pricing model
Commission-free

Facts checked September 26, 2026, 9 sources

Apps and profiles

Get the app
App StoreGoogle Play
Elsewhere
WikidataWikipediaXLinkedIn

Pros and cons

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.
Nutmeg

Ready to try Nutmeg?

Scored 9.2 / 10 by SumCue.

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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.

Safety of your money

Nutmeg is regulated by the Financial Conduct Authority, and the firm is recorded under reference 552016. Checking that reference is the quickest way to confirm the account sits with a properly authorised firm rather than a trading skin. Money on the platform sits behind the Financial Securities and Compensation Scheme, with investor protection of FSCS up to GBP 85,000. That figure is a ceiling, so a balance above it would not be returned in full if the firm failed. Regulation also means the firm has to publish its fees, hold client assets properly and show how portfolios are valued, which gives the investing an outside check. The limit does not cover a bad month in the market. A robo-advisor chooses the investments, so a balance can fall while the firm stays solvent, and the protection scheme steps in for a firm that fails, not for a portfolio that drops. Check the firm reference before transferring money.

Portfolios and accounts

Nutmeg builds the portfolios rather than handing over a list of funds to assemble. The range covers etf, esg and cash, so a core ETF allocation sits alongside an ESG tilted option and a cash holding. The cash portfolio is the one to look at if a lump sum is due out soon, since it is not tied to the swings of equity markets, while the ESG option suits anyone who wants their money steered on environmental and social grounds. The account wrappers are isa and sipp. The two do different jobs: an ISA is aimed at investment gains and a SIPP at retirement access, so the right one depends on when you want the money rather than on the portfolio. The portfolio is picked first and the wrapper sits around it, which keeps the choice simple but makes the timing decision more important. Pick the wrapper that matches your plans before adding to the account.

Getting started

Getting started takes a £500 deposit, the amount the account has to be funded with before it can hold anything. After that the minimum investment is £100 to £500, so contributions and holdings sit within a range rather than a single figure. Set-up, trading and exit fees do not run on the account, so opening, adjusting or closing costs no extra charge. The accounts available are isa and sipp, and keeping the two apart is the usual way to hold tax sheltered money separately from a retirement pot. Anything above the minimum is added to the portfolio and rebalanced without an extra charge. Two things are worth checking before the first payment: which wrapper you are opening, since shifting money from an ISA to a SIPP later is not a simple switch, and whether the deposit has cleared before you set up regular contributions.

Fees and currency costs

The annual cost is a management fee of 0.25% to 0.75% a year, deducted from the account rather than invoiced separately. A range like this normally reflects the portfolio you hold: simpler allocations sit at the lower end and more specialised ones at the upper end, so the rate follows your choice rather than a single headline number. The management fee is the whole of the cost of running the portfolio, not something stacked on a dealing charge, which is what keeps the bill short. The minimum investment of £100 to £500 matters here, because the same annual charge takes a larger bite from a small balance than from a large one. The fee applies every year the account is open, including on a portfolio left untouched, which is the argument for putting money in earlier and letting it compound.

How Nutmeg compares

Where Nutmeg is available

Available
United Kingdom
Licence in United Kingdom
Financial Conduct Authority (552016), checked September 26, 2026

Countries from the brand (Source, checked September 26, 2026)

Frequently asked questions

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.

Who holds my money and what protection do I get?+

Accounts are run by J.P. Morgan Personal Investing Limited, which is regulated by the Financial Conduct Authority under reference 552016. Investor protection stands at FSCS up to GBP 85,000, so a claim against the firm is handled by the scheme up to that ceiling. Balances above the figure are not covered in full.

What can I hold in the account?+

The account comes as isa and sipp, so the choice of wrapper is a tax decision rather than a wide choice of account types. Inside them the underlying investments cover etfs, funds and stocks, and the managed portfolios sit in the etf, esg and cash range, which includes a cash option for anyone who wants less risk.

Can I take money out whenever I want?+

Set-up, trading and exit fees do not run on the account, so a withdrawal carries no exit charge on top of the management fee. Money held in an ISA or a SIPP comes out under the rules for that wrapper, and the £100 to £500 minimum sets the smallest amount held in the portfolio.

Which devices can I use to manage the portfolio?+

The service runs on Web and Mobile app, so portfolios can be checked and adjusted in a browser or on a phone. The mobile app covers the same holdings, contributions and portfolio choices as the web version, so nothing is locked to one device.

How do I get help if something looks wrong?+

Support runs on email, chat and phone, so questions can be sent by email, raised in live chat, taken by phone or answered from the help centre. The mix matters for anyone who wants a person on the line rather than a form.

Can I lose money on a managed portfolio?+

A managed account is not a savings account. Nutmeg chooses the investments, so the balance can fall as well as rise, and typically 70.15% of retail accounts lose money. The steadier option inside the service is the cash portfolio in the etf, esg and cash range, held in an ISA or SIPP.

Sources

Compiled from 10 source pages, checked September 26, 2026. We did not open an account.

Nutmeg

Nutmeg

A set and forget ISA or SIPP for UK beginners who want low ongoing costs and a cash option inside the same account.

9.2/10See alternatives