CMC Invest Reduces Pension Expenses by £170 Yearly: Evaluating Competitor Benefits
CMC Invest Reduces Fees, Becomes More Competitive
CMC Invest, a new investment platform backed by the well-established CMC Markets, has made a significant move to become more competitive in the flat-fee investment market. With the reduction of commission fees, the platform now offers commission-free trading on major UK shares, US stocks, and ETFs, making it an attractive option for long-term investors seeking broad market access without trading fees.
The price drop has resulted in several benefits for cost-conscious investors. Unlike Interactive Investor, which relies on a flat monthly fee plus dealing charges, CMC Invest now offers a more affordable fee structure. Freetrade, while offering no commission on basic trades, may limit market access compared to CMC Invest.
CMC Invest's key features include no dealing commission, access to thousands of shares and ETFs from major exchanges, FCA regulation, and client funds protected up to £85,000 under the FSCS scheme. The platform is suited for beginners and long-term investors wanting straightforward investment without complex fees.
When compared to other flat-fee investment platforms like Interactive Investor and Freetrade, CMC Invest offers competitive trading fees, a wide range of markets, and strong client protection. Here's a comparison of the three platforms:
| Feature | CMC Invest | Interactive Investor | Freetrade | |-----------------------------|--------------------------------------------|-------------------------------------------|----------------------------------------------| | Trading Fees | £0 dealing commission (after price drop) | Flat monthly fee (~£10-£20/month) + dealing fees | Commission-free for basic trades, some premium plans | | Account Fee | £120 ISA annual fee (per source [2]) | Monthly platform fee + possible fund dealing fees | No account fee for basic, fees on premium features | | Markets | UK shares, US stocks, ETFs | UK & international shares, funds, ETFs | UK shares, US stocks, ETFs | | FCA Regulation | Yes | Yes | Yes | | Client Protection | FSCS up to £85,000 | FSCS up to £85,000 | FSCS up to £85,000 | | Platform Best For | Long-term investors with no commission | Investors who want broad international access and full services | Retail investors wanting commission-free, easy app use |
CMC Markets, the parent company, provides strong platform technology, including advanced charting tools and access to trading CFDs and commodities separately, although these are more suited to experienced traders.
In conclusion, CMC Invest post-price reduction is best for those seeking low-cost, commission-free access to major stocks and ETFs, with a reputable FCA-regulated provider. It competes strongly with Freetrade on commission fees and with Interactive Investor on market access but differs mainly in fee structure and platform offerings. The reduced costs make CMC Invest worth considering, especially for opening or transferring a pension.
[1] CMC Markets (2023). CMC Invest Review 2023 [2] Money Saving Expert (2023). CMC Invest Review [3] This Is Money (2023). CMC Invest review: The new flat-fee investment platform from CMC Markets [4] The Motley Fool (2023). CMC Invest Review
- For individuals seeking to invest in various markets such as UK shares, US stocks, and ETFs, CMC Invest now offers a competitive option with commission-free trading, following its price drop.
- CMC Invest provides an attractive avenue for additional savings, as it offers a more affordable fee structure compared to Interactive Investor, which charges a flat monthly fee in addition to dealing charges.
- Personal-finance enthusiasts looking to start a pension or diversify their investment portfolio can consider CMC Invest, as its reduced costs make it a competitive choice in the flat-fee investment market.
- Given the reduced fees and wide range of markets, CMC Invest's investment platform may become an attractive choice for those looking to allocate their savings towards stocks, particularly for long-term investors focusing on personal-finance management.
