Protection
FSCS
Up to £85,000
Min investment
£0
Max investment
£20,000
Transfers in
Accepted
Who Is This For
Learn more about First Direct- Savers happy with a £20,000 cap
Additional Info
First Direct's Stocks and Shares ISA is a self-select ISA that runs on its standard Sharedealing service within the £20,000 allowance. You must already hold a first direct current account, then open a Shares Account, before you can apply. You choose your own shares, ETFs and investment trusts, including AIM-listed shares - but funds (OEICs/unit trusts) and fractional shares aren't supported. Existing Cash and Stocks & Shares ISAs can be transferred in, though this can take up to six weeks.
Please verify all details with the provider – for more info read our Disclaimer
Penny's Take
The first thing to know is the gate: you need to be an existing first direct current account customer before you can open this ISA, which rules it out for most people on day one. If you're already with first direct, it's a straightforward self-select ISA covering shares, ETFs and investment trusts — but it isn't a cheap way in. You'll pay a £42-a-year account fee whether you trade or not, and dealing fees of £10.50 per trade (dropping to £7.95 after nine trades a quarter) are the highest on this list, where most rivals charge zero commission. There are no funds, no fractional shares, no interest on uninvested cash, and it isn't a flexible ISA — so for cost-conscious DIY investors the commission-free platforms here are hard to look past.