5 Digital Investment platforms to watch out for in 2024

By Gloria Methri

A new year is an ideal time to set financial goals and make plans to reach the money milestones you want to achieve in 2024. The unpredictability and turbulence experienced recently with the outbreak of Coronavirus-induced lockdowns and cost-of-living crisis have upped the need for secure, flexible, and low-risk forms of investment.

Though investment is a challenging space right now, many innovative FinTech solutions are providing alternative pathways to encourage wealth creation. From platforms that offer social trading and customer support to commission-free services and international stock trading, there is a booming variety of options in the marketplace.

In the new year, you can utilise these platforms to establish short-term and long-term financial goals, that will help manage your income, debts, and savings, and ensure you remain on track.

Here are five digital investment apps that are perfect for small to medium-income earners and will help them feel more secure:

• AJ Bell

Manchester-based AJ Bell is a popular investment platform that offers a wide range of investment options, including stocks, funds, trusts, and ETFs. It allows users to make regular investments for as little as £25 per month with low management fees starting at 0.25% for investments up to £250,000.

AJ Bell offers Stocks and Shares ISA, Junior ISA, Lifetime ISA, SIPP, Junior SIPP and a Dealing account. It also recently launched DODL, which comes with a 0.15% platform fee and fund costs ranging between 0.31% and 0.45%.

• eToro

eToro is a multi-asset investment platform providing various financial instruments, including stocks, ETFs, forex, cryptocurrencies, tools, and educational resources. The key benefit of this platform is its unique social trading experience, that lets you copy the trades of successful traders. It is important to know that the value of your investments may go up or down, putting your capital at risk. As a downside, you can’t use ISA or SIPP wrappers which may discourage some investors.

• Fidelity International 

Fidelity International is a global investment platform that offers a wide range of investment options and tools, including shares, funds, and ETFs. It also provides personalized investment advice to help individuals reach their financial goals. The platform enables individuals, advisers and employers to access investment choices, third-party solutions, administration services and pension guidance.

• Freetrade

Freetrade is an ideal investment option if you are looking for a platform with low dealing charges. It is a commission-free platform that offers a range of stocks, ETFs, and investment trusts, a user-friendly mobile app, and educational resources. You can have SIPPS and ISAs, and there is no commission sharing or platform fee on the basic plan. The flat fee is appealing to those platforms that charge a percentage-based platform fee of the value of one’s portfolio.

• Interactive Investor

Interactive Investor is a UK-based flat-fee investment platform offering its clients a range of financial products and services. For a simple, monthly account fee, the platform provides a secure home for pensions, ISAs and investments. Interactive Investor claims that its flat fee charging structure could save users ‘up to £45k over 30 years’ compared to some of the more expensive platforms.

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