Barclays Eliminates Account Fees on DIY Investing Platform Amid Competitive Market
Barclays removes account fees on its DIY investing platform - but is it as cheap as it looks?

Image: Mail Online
Barclays has removed account fees on its Direct Investing platform, making it cheaper than competitors like Hargreaves Lansdown and Interactive Investor. However, it still charges £6 per trade for stocks and ETFs, which may not be the best option for frequent traders compared to challenger platforms like Freetrade.
- 01Barclays eliminated account fees, previously charging 0.25% for portfolios below £200,000 and 0.05% above that.
- 02Investors can save £125 annually with £50,000 invested, or £50 with £20,000 in an ISA.
- 03While trading funds incurs no fees, stocks and ETFs are charged £6 per trade.
- 04Challenger platforms like Freetrade and Trading 212 remain cheaper for stock trading.
- 05Barclays offers a range of investment options, including ready-made funds for beginners.
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Barclays has made a significant change to its Direct Investing platform by removing account fees, which previously cost investors 0.25% for portfolios under £200,000 and 0.05% for those above. This move positions Barclays as a more competitive option compared to established platforms like Hargreaves Lansdown and Interactive Investor. The bank claims that the fee removal could save an investor with £50,000 approximately £125 annually. However, while trading funds remains free, a £6 fee applies to trades involving stocks and exchange-traded funds (ETFs). This means that platforms like Freetrade and Trading 212 may be more cost-effective for frequent stock traders. Barclays offers a wide array of investment options, including ready-made funds that cater to novice investors. Despite the positive changes, experts caution that the £6 trading fee could accumulate quickly for active traders, suggesting that those who prioritize lower trading costs might still prefer newer investment platforms.
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The removal of account fees may encourage more novice investors to use Barclays' platform, potentially increasing their investment activity.
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