Investing apps

MoneyBox, MoneyFarm, Nutmeg, Wealthify.

Thoughts, recommendations and considerations?

RateSetter - I recently signed up, how good it is remains to be seen

Eagerly awaiting Freetrade. Managed to support them with a small investment on Crowdcube. Will be good to have access to popular shares and ETFs for free!


Depends what you’re looking for. The Hargreaves Lansdowne app is a lot better than it used to be and buying funds is cheap if you want to pick your own.

I like the idea of moneybox, but hate the execution. The round ups don’t actually round up - they record them, then 1-2 weeks later take a lump sum from your account. For me this kind of defeats the purpose. I’d rather just have a regular lump sum going to an investment account. Plus their £1/month fee means that if you only invest round ups it’ll take a while before your return isn’t negative.

Currently using MoneyFarm. Really liking it. When I signed up there were no fees on your first £10k. They recently removed that (although existing users still get it).

Has anyone used brick lane? Considering opening an ISA there next year.

I joined Nutmeg in May and my returns were pretty flat (a little up and a little down) until about 2 weeks ago when it shot up about 3%. I wasn’t too impressed before then but if it bobbles there for now, I’ll be happy as it beats most non-regular saving accounts.

I joined Wealthsimple last week and so far it all seems pretty good. App and website appear to work well with only a few minor issues. To early for me to comment on how my investments are performing but they have been working in the US / Canada for a few years now and I believe they have had good consistent returns. Also your first £5,000 is mangaged free for the first 12 months with ways of increasing the amount of length of this through referrals.

I’ve been using Zopa, Nutmeg, and Rate Setter for some time now and been getting reasonable returns. I’ve also been investing using Abundance Investment who are all about renewables.

When I moved my pension over to Nutmeg it spent several months in negative territory due to the timing, though it’s significantly positive returns now.

I’m just finishing the move of my Nutmeg ISA to MoneyFarm due to the lower fees, and will luckily continue to get them, as new accounts don’t get the initial fee free amount as @podgib mentions above. The ISA transfer progress/status could be clearer. I’ve not been using Moneyfarm for long enough to be able to compare to Nutmeg fully. Had they not had the fee free part of the tariff I probably wouldn’t have moved. The track record isn’t long enough to be able to tell which will be better in the long run, and past performance isn’t an indicator of future performance, etc.

Looking to set up a savings ISA with an innovative Fintech company with the highest returns, lowest fees, best customer service and best app. Any recommendations? I saw there is a Monzo circle for Wealthify so I am leaning towards that to get 20% off fees. Any tips would be appreciated. Just need something I can dump various savings into that will appreciate more than a normal savings account as my risk appetite is quite high.

Wealthify seems to be the one a lot of people are switching to since you can get money off fees. Have not personally used it.

I used moneybox briefly and it takes forever to get your money out. I got out just before the two free months were up. I was using it like Coin Jar, so you barely make any money on it. My friend lost money after fees in fact. Nutmeg is similar, people complain about the fees cutting out any profit. I haven’t personally used it but thought I did. It’s the same slick app style, minimalist white and pretty rings and graphs that you can almost forgive for earning you nothing at all.

Unless you can put in more money at one go, I generally wouldn’t recommend using it like how it’s marketed. You don’t save anything if you’re only going to be “saving your spare change”, much less “invest in the future”.

I managed to get a discount code where the first 2 years are free on moneyfarm up to 20k. Still transferring my ISA at the moment so can’t speak about performance yet. App seems ok though

Hey @nicolo :wave:t2:

I’ve merged your post over here - as there’s been a little discussion already about some of these apps. Hopefully some of it useful?

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I would recommend eToro for cryptos and Interactive Investor for share ISAs, although II’s website is way better than their app

Plum just launched investments. 6 different ETF funds. You can invest as little as £1 and pick the risk levels etc.

They just launched their beta which I was part of the testing group for. I invested in Tech and Growth funds but you can do all of them or just 1 if you like.

They are still in beta at the moment but you can get on the list here