InvestEngine vs Trading 212: Which Free Platform Wins? (2026)
Two free UK investing platforms compared. How InvestEngine and Trading 212 differ on what you can hold, accounts (ISA vs SIPP), fractional investing and FX, and which suits you.
Written by an 11-year retail-brokerage insider. · Updated 11/6/2026
InvestEngine and Trading 212 are two of the most popular free platforms in the UK, and for cost-conscious investors they’re both excellent. Neither charges a platform fee, so the choice comes down to what you want to hold and which accounts you need. Here’s how they differ.
The short version
- Choose Trading 212 if you want individual stocks as well as ETFs, automated “Pies”, and a free Stocks and Shares ISA.
- Choose InvestEngine if you want a free SIPP as well as an ISA, an ETF-only approach, and the option of a managed portfolio.
How they compare
| InvestEngine | Trading 212 | |
|---|---|---|
| Platform fee | £0 (DIY) | £0 |
| What you can hold | ETFs only | Stocks and ETFs |
| Accounts | ISA, SIPP, general | ISA, general (no SIPP) |
| Fractional investing | Yes | Yes |
| Automation | DIY or managed portfolios | ”Pies” and autoinvest |
| FX cost | None (GBP-only ETFs) | 0.15% on currency conversion |
| Best suited to | Free ETF ISA and SIPP | Stocks, ETFs and a free ISA |
Illustrative summary. Check current terms with each platform.
What you can hold
This is the core difference. Trading 212 lets you buy individual shares as well as ETFs, so it suits anyone who wants to pick a few stocks alongside their funds. InvestEngine is ETF-only, which is a limitation if you want shares, but perfectly fine if a diversified ETF portfolio is all you’re after.
Accounts: the deciding factor for many
If you want a pension, this likely settles it. InvestEngine offers a free DIY SIPP as well as an ISA, while Trading 212 offers an ISA but not a SIPP. For retirement investing, InvestEngine has the edge; for general and ISA investing, both work.
Automation
Both make recurring investing easy in different styles. Trading 212’s Pies let you design a target portfolio and drip money in automatically. InvestEngine offers DIY portfolios or a managed option if you’d rather hand over the fund choice. Either covers the “set it and forget it” goal well.
Cost and FX
Both are free on platform fees. The small difference is FX: InvestEngine’s ETFs are GBP-only so there’s no conversion cost, while Trading 212 charges 0.15% when a trade involves a currency conversion (avoidable if you use its multi-currency balances). For a UK investor buying GBP-listed funds, the difference is minor.
Which should you pick?
- You want a free ISA and SIPP, ETF-only: InvestEngine.
- You want stocks plus ETFs, Pies and a free ISA: Trading 212.
Plenty of people happily use one for each job. The honest answer is that both are first-rate free platforms, and you’re choosing on holdings and accounts, not cost.
The bottom line
Two genuinely free, beginner-friendly platforms with slightly different shapes: Trading 212 for stocks-and-ETFs with an ISA, InvestEngine for ETF-only with a free SIPP too. Match it to what you want to hold and whether you need a pension. Read our full reviews of InvestEngine and Trading 212, or compare them with the rest on Brokerlens.
Educational information, not personal advice. Platform terms change, so always check current details. We may earn a commission if you open an account through our links, which never affects which platforms we recommend.