Wombat Invest is now the cheapest ISA platform in the UK for people wanting to choose their own stocks.
In Brief:
Wombat enables people to invest in themed exchange-traded funds, but also offers fractional investment.
It’s reduced its annual platform charge from 0.45% to 0.1%.
This is now the cheapest way for people in the UK to use their investment ISA to back individual stocks.
What does this mean?
Cutting the price of investing is all part of Wombat’s goal to empower people to manage, save and invest money.
CEO and co-founder Kane Harrison says: “We think it’s deeply unfair that retail investors are hit by high platform charges that eat into their returns and stop them growing their money over the long term.
“We want to break down the barriers to investing by making it simpler, cheaper and fairer. Cutting our platform fee will allow savers to keep much more of what they invest, while enjoying a simple, effortless and engaging investment experience.”
