Investors are paying hundreds of pounds more than they need to in platform fees every year, according to analysis from IG, which launched its Fat Cat Index to highlight the issue.
It said there was a "significant price gap" between the large UK investment platforms for stocks and shares ISAs. Its analysis found more than half (52%) of investors are clients at the market's 12 most expensive providers. It explained that platform costs vary significantly based on trading frequency, and to account for this, it split its analysis into categories, giving investors three profiles: passive (one trade/month), medium (three trades/month), and active (six trades/month). IG said: "For an ‘active' investor using a stocks and shares ISA with one of these platforms, the cu...
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