AJ Bell Youinvest Trading Platform Review

AJ Bell Youinvest Trading Platform Review

AJ Bell Youinvest Trading Platform Review.

If you are looking to invest as an expat or high-net-worth individual, which is what I specialize in, you can email me (advice@adamfayed.com) or WhatsApp (+44-7393-450-837).

Table of Contents

Introduction

AJ Bell Youinvest was established in 1995 and is one of the largest discount brokers in the United Kingdom. The Financial Conduct Authority (FCA) regulates it, and it is traded on the London Stock Exchange (LSE).

Because it has a long track record, is listed on a stock exchange, and is regulated by a top-tier regulator, AJ Bell Youinvest is considered safe.

What is AJ Bell Youinvest?

1995 saw the founding of AJ Bell Youinvest. More evidence that a broker has successfully weathered prior financial crises is available the longer the broker’s track record.

Since the broker regularly and transparently releases financial statements, AJ Bell Youinvest’s listing on the London Stock Exchange is a major plus for safety.

Being listed on a stock exchange, disclosing financial information, and being subject to stringent regulation are all excellent indicators of AJ Bell Youinvest’s security.

About 432,000 customers receive investment services from AJ Bell, which employs about 900 people in the UK. Comparatively, Hargreaves Lansdown, the largest online investment platform in the UK, manages about £120 billion in assets and has 1.7 million customers.

The first online SIPP provider in the UK, AJ Bell’s online investment service, known as AJBell Youinvest, was introduced in the year 2000. Up until Interactive Investor took over in 2017, AJ Bell even managed TD Direct’s self-invested personal pension (SIPP).

AJ Bell, a major UK investment platform that has a background in stockbroking, SIPPs, and actuarial consulting, is still a member of the London Stock Exchange despite this.

AJ Bell Youinvest Trading Platform Review
AJ Bell Youinvest logo. Image from Youinvest.

Pros and Cons of AJ Bell Youinvest Trading Platform

Account opening with AJ Bell Youinvest is quick, taking no more than 10 minutes. You get a simple, but very functional trading platform. If you require assistance from customer service, you will receive it quickly.

For stocks and ETFs, AJ Bell Youinvest charges average fees. Forex, options, futures, and CFDs are not available. Finally, technical research tools, particularly charting, are very basic and unsuitable for advanced research.

AJ Bell Youinvest Trading Platform Fees

AJ Bell Youinvest charges low fund fees and low non-trading fees. Both deposits and withdrawals are completely free. On the downside, a custody fee will be assessed based on your trading history and asset volume.

AJ Bell Youinvest Trading Fees

Trading costs at AJ Bell Youinvest are typical. Although trading in stocks and ETFs may incur higher fees, mutual fund fees are generally low. Trading stocks and ETFs has a volume-based fee structure. You will pay less if you trade more frequently and/or with larger amounts.

When automatically reinvesting your income with the broker at AJ Bell Youinvest, there is a flat fee of £1.5 for dividend reinvestment charges.

Stocks Fees and ETF Fees

The stock and ETF commissions charged by AJ Bell Youinvest are relatively standard.

The commission for stocks and ETFs is £9.95 per trade. The fee is only £4.95 per trade if you had more than 10 trades in the previous month.

You’ll have to pay a custody fee based on the value of your shares (and ETFs). The custody charge is 0.25% per year but is deducted monthly with a monthly cap of £3.50 for all SIPP accounts and £3.50 for ISA accounts (£2.50 per month for Junior ISAs).

The annual charge is 0.1% for shares worth £250,000 to £500,000, and there is no charge for shares worth more than £500,000.

Margin trading is not permitted.

Fund Fees

Fund fees at AJ Bell Youinvest are reasonable.

For a purchase of a $2,000 fund, the AJ Bell Youinvest commission is $2.1.

In addition, AJ Bell Youinvest levies a volume-based annual custody fee and a £1.5 flat fee per trade.

Non-trading Fees

Non-trading fees are low at AJ Bell Youinvest. It does not charge account, inactivity, or withdrawal fees.

Products and Services Offered by AJ Bell Youinvest

As you might anticipate from a significant investment platform, AJ Bell provides a variety of investment products, which are detailed below:

AJ Bell Youinvest ISA

A low-cost online Stocks & Shares ISA with a variety of investment options, including shares, unit trusts, investment trusts, and ETFs, is offered by AJ Bell Youinvest ISA. Contributions are accepted up to £20,000 per year (2022–2023).

Hargreaves Lansdown-style regular investments can be made for as little as £25 per month. Transfers from an existing Stocks and Shares ISA with another provider are permitted.

The Self Select ISA provider of the Year award went to the AJ Bell Youinvest ISA at the 2022 ADVFN International Financial Awards.

AJ Youinvest Junior ISA

Parents or guardians can invest for a child’s future through the AJ Youinvest Junior ISA online in a tax-efficient manner. Up to £9,000 can be contributed annually. (2022–2023), and the funds are ring-fenced until the child turns 18 years old, at which point they are given access to the invested funds.

The AJ Youinvest Junior SIPP provides an online, tax-efficient way for anyone to contribute to a child’s future, but the funds are restricted until retirement age.

Up to £2,880 can be contributed each year. Contributions can total a maximum of £3,600 per year (2022–2023) and the government will add tax relief at a rate of 20%.

AJ Bell Youinvest Lifetime ISA

For those 18 to 39 years old who are saving for their first home or retirement, AJ Bell Youinvest Lifetime ISA is an option.

Contributions are up to £4,000 per year. (2022–2023) and until age 50. Investments may be withdrawn at any time to pay for a first home or starting at age 60 to fund retirement. A government bonus of 25% of investments will be paid. Transfers from other investments are possible.

The “YourMoney Awards Best Online Lifetime Stocks and Shares ISA Provider of the Year award” was given to the AJ Bell Youinvest Lifetime ISA in 2019. One of the few companies offering investment Lifetime ISAs is AJ Bell Youinvest.

AJ Bell Youinvest SIPP

According to current pension law, investments made through the AJ Bell Youinvest SIPP, the first online SIPP available in the UK, are tax-exempt up to £40,000 per year.

Even as little as £25 per month can be put toward regular investments. Existing SIPPs with different providers may be transferred. The AJ Bell SIPP has received numerous honors; most recently, the City of London wealth management awards named the AJ Bell SIPP the “Best SIPP provider 2021.”

AJ Bell Youinvest Dealing Account

The AJ Bell Youinvest Dealing Account offers a simple, affordable method of investing online that gives investors the freedom to make their own investment decisions.

There is no maximum investment amount, unlike with an ISA or SIPP account, and funds may be withdrawn at any time.

AJ Bell Platinum SIPP

offers a customized SIPP service for business partners and co-directors.

A wider range of investment options, including the purchase of UK commercial land and property, are available through the AJ Platinum SIPP than through the AJ Bell Youinvest SIPP. The member’s business or a third party may then lease any commercial land or property.

AJ Bell Platinum SSAS

Members of the SSAS (Small Self Administered Scheme) have access to a variety of investments through an AJ Bell Platinum SIPP in addition to borrowing from commercial lenders and lending to limited companies on favorable terms for their business operations.

AJ Bell Youinvest Cash Savings Hub

The AJ Bell Youinvest Cash Savings Hub is a platform that makes switching between savings accounts simple so that users can benefit from the highest interest rates available.

Similar to other cash savings platforms like Raisin UK and Hargreaves Lansdown’s Active Savings platform, the AJ Bell Youinvest Cash Savings Hub functions similarly. Investors cannot use funds from other investment accounts because it is a stand-alone service.

Customers have a variety of savings accounts to choose from, and they can choose to stow their money away for anywhere between six months and five years. The current interest rate ranges from 0.25% to 2.53%.

AJ Bell Youinvest Trading Platform Review
AJ Bell Youinvest web homepage. Image from Investing Reviews.

Opening an AJ Bell Youinvest Account

Expect a quick, user-friendly, and fully digital account opening process with no minimum account balance requirement. The disadvantage is that it is only available to UK residents.

What is the minimum deposit amount at AJ Bell Youinvest?

At AJ Bell Youinvest, there is no required minimum deposit.

Types of AJ Bell Youinvest Accounts

Investors can select from a variety of account types based on their investment and savings goals.

How to Open an AJ Bell Youinvest Account

AJ Bell Youinvest is only available to UK residents.

Account opening with AJ Bell Youinvest is a simple procedure that can be completed online in about 10 minutes. They will attempt to verify the information you have provided automatically.

You must provide your address for the last three years as part of the application process. There is a chance that the verification will fail if you moved to the UK less than three years ago. If the online verification fails, you must submit certified copies of documents proving your identity and address. The list of individuals who can certify your documents is extensive.

AJ Bell Youinvest Withdrawals and Deposits

Deposits and withdrawals are free and the process is user-friendly. However, accounts are available only in GBP and one-off deposits cannot be sent via bank transfer.

AJ Bell Youinvest Account Base Currencies

At AJ Bell Youinvest, the only available base currency is GBP.

Why is this important? Due to two factors. You won’t have to pay a conversion fee if you fund your trading account in the same currency as your bank account or trade assets in the same currency as your trading account base currency.

Opening a multi-currency bank account at a digital bank is a practical way to avoid currency conversion fees. They typically provide free or inexpensive international bank transfers along with bank accounts in a variety of currencies with excellent currency exchange rates. On your phone, opening an account only requires a short amount of time.

AJ Bell Youinvest Deposit Fees and Options

At AJ Bell Youinvest, there are no deposit fees. Debit cards or postal checks may be used to make one-time deposits, also known as single payments. The inability of one-time deposits to be sent via bank transfers is a little surprising.

With a debit card top-up, the funds are immediately available for investing, whereas checks require at least five business days. Create a direct debit to make recurring deposits.

Only funds from accounts that are in your name may be deposited.

AJ Bell Youinvest Withdrawal Fees and Options

With AJ Bell Youinvest, standard withdrawals are free, but you can only withdraw money using a bank transfer. For a fee of £25 plus VAT, clients can request a CHAPS transfer, which is quicker.

All withdrawals from an ISA or a Dealing account are processed through Faster Payments, so a CHAPS transfer request is not necessary for expedited withdrawals.

How Fast is it to Withdraw Money from AJ Bell Youinvest?

Expect that withdrawing money via bank transfer can take up to two business days to finish. Only accounts that are in your name are eligible for withdrawals.

Within the first five business days of a deposit being credited to an account, withdrawals are not permitted. Although they are immediately available for investment, no withdrawal requests may be made during this time.

How to Withdraw Money from AJ Bell Youinvest?

You can accomplish it by doing the following:

  • When logged in, click the “My Account” button in the top right corner.
  • Select the ‘Withdrawals’ menu option from the list of choices.
  • Change your bank information if necessary.
  • Put the amount you want to take out of your total available balance in the box provided.
  • Press the “Submit” key.
  • After submitting the request, send an email to administration@youinvest.co.uk requesting a faster withdrawal for a fee of £25 plus VAT.

AJ Bell Youinvest Web Trading Platform

The web platform for AJ Bell Yoinvest is well-designed and user-friendly. There is a two-step login option, and the fee reports are transparent. The lack of support for price alerts and limited customizability are drawbacks.

It is possible to use the web trading platform in English.

AJ Bell Youinvest Web Trading Platform Design

The AJ Bell Youinvest web trading platform is easy to use and has a nice, contemporary vibe. The platform is simple and easy to use, but it cannot be customized.

AJ Bell Youinvest Web Trading Platform Login and Security

Two-step authentication is an enhanced security option offered by AJ Bell Youinvest.

If you choose not to use two-factor authentication, you can still log in using your user name, three-character password, and security question. Although quite secure against malicious automated login attempts, this method needs extra care if your password is particularly long.

The system is incompatible with the majority of password management tools, and it would be quite annoying to attempt to log in more than once just to try.

AJ Bell Youinvest Web Trading Platform Search Functions

The search feature is excellent. You can enter the asset’s name or ticker in the search input field. You can start your research from this point because the results are clearly organized.

Placing Orders on AJ Bell Youinvest Web Trading Platform

There are no more complex order types like “one cancels the other,” only very simple order types. There are several order types available:

  • Market
  • Limit

There is only one date for which the order time limit can be set; there are no other options.

AJ Bell Youinvest Web Trading Platform Notifications and Alerts

Unfortunately, there are no alerts or notifications available on the web trading platform.

AJ Bell Youinvest Web Trading Platform Reports on Fees and Portfolios

Clear portfolio and fee reports are provided by AJ Bell Youinvest. The ‘Portfolio’ section of the ‘My Account’ tab is where you can find them. The thorough fee calculation that was displayed before submitting a trade order was another feature that most users value.

AJ Bell Youinvest Trading Platform Review
AJ Bell Youinvest mobile app. Image from Good Money Guide.

AJ Bell Youinvest Mobile Trading Platform

A great mobile trading platform is provided by AJ Bell Youinvest, ensuring a simple and straightforward user experience. However, you might not receive price alerts at times.

For both iOS and Android, there is a mobile trading platform called AJ Bell Youinvest. There is an English version of the platform.

AJ Bell Youinvest Mobile Trading Platform Design

The mobile trading platform is identical to the web trading platform in terms of functionality and aesthetics. It has a simple layout, is user-friendly, offers secure login options, and has excellent search capabilities. Only simple order types are available, and price alerts are not supported.

AJ Bell Youinvest Trading Platform Markets and Products

Stocks, ETFs, and funds are part of AJ Bell Youinvest’s constrained product offering. Forex, options, futures, and CFDs, among other well-known assets, are not included. Bonds can be traded only via phone orders.

The stock and ETF lineup at AJ Bell Youinvest is average but has excellent mutual funds.

ETFs and Stocks

The offer of stocks and ETFs is standard. There are 2,700 ETF options and 19 stock market options. It doesn’t differ significantly from Hargreaves Lansdown’s.

Clients of AJ Bell Youinvest have access to significant European and US markets in addition to UK markets.

There are some other stock markets where you can place phone orders, but a £10,000 minimum order size is needed, such as Hong Kong or Japan.

Funds

With almost 4,000 funds available, AJ Bell has more fund providers than any of its rivals combined.

AJ Bell has added four new Environmental, Social, and Governance (ESG) focused funds to its favorite funds list as evidence of the broker’s dedication to sustainability. Read our article on the subject of ESG if sustainable investments interest you.

AJ Bell Youinvest Trading Platform Research Services

The research section has a variety of straightforward and user-friendly tools with a focus on beginning investors. There aren’t any more advanced charting or analytical tools, though. Morningstar is the main source of the information.

Trading Ideas

You can find trading ideas at AJ Bell Youinvest, where you can also find curated asset lists and pre-made portfolios that have been chosen and researched by AJ Bell’s investment experts.

Fundamental Data

Fundamental data is provided by AJ Bell Youinvest. You will discover a wide range of helpful data, from performance charts to key ratios to dividends.

The Insiders section, which offers details on significant stakeholders’ and directors’ share transactions and holdings, is an intriguing feature.

Charting

Poor, rudimentary charting tools are available on AJ Bell Youinvest. Ten technical indicators are allowed, which is fewer than what the majority of other brokers allow.

Newsfeed

The newsfeed on AJ Bell Youinvest is excellent and well-organized.

AJ Bell Youinvest Trading Platform Customer Services

Although there is no 24/7 availability, AJ Bell Youinvest’s customer service is excellent, offering quick and pertinent answers on a variety of channels.

A superb live chat service is offered by AJ Bell Youinvest. The responses were satisfactory in terms of relevance, and there was no waiting after the initial contact. It was found out that customer service agents were consistently accommodating and helpful.

The phone support for AJ Bell Youinvest is effective. There is hardly any waiting so expect to receive quick helpful responses to your technical queries.

The email responses came through within one business day and were also satisfactory.

Phone support is available Monday through Friday from 8 am to 7 pm and on Saturday from 10 am to 2 pm, both times in London time. From 8 am to 5 pm, Monday through Friday, live chat is accessible.

AJ Bell Youinvest Trading Platform Review
AJ Bell Youinvest on mobile. Image from Youinvest.

AJ Bell Youinvest Trading Platform Education and Tutorial

The articles, videos, downloadable guides, and podcasts available on AJ Bell Youinvest are helpful for beginning investors. The educational content on the site is of excellent quality, but occasionally it can be challenging to locate it. No demo account is available for testing purposes.

Learn in the following ways at AJ Bell Youinvest:

  • Platform tutorial videos
  • General educational videos
  • Webinars
  • Quality educational articles

In addition, they produce a weekly publication called Shares, but you need to have £4,000 in your accounts in order to read it.

Their YouTube channel, where all of the videos are arranged into different playlists, is easier to browse because the videos are not well-structured.

AJ Bell Youinvest Trading Platform Safety and Security

The UK’s FCA, a top-tier regulator, oversees AJ Bell, providing a high level of investor protection (£85,000). AJ Bell Youinvest is also listed on the London Stock Exchange.

Is AJ Bell Youinvest regulated?

Yes, the Financial Conduct Authority oversees its regulation. The UK-based company AJ Bell Youinvest was established in 1995.

Is AJ Bell Youinvest safe?

How will you be safeguarded if something bad happens? The amount of investor protection varies depending on the entity. As a customer of AJ Bell Youinvest, you are protected by AJ Bell PLC, which is subject to FCA regulation. In the event that the broker defaults, the FSCS investor protection shields against the loss of money and securities. The FSCS protection is only up to £85,000 in total.

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