Trading 212 SIPP: The Cheapest Pension in the UK?
A retail platform just launched a SIPP with no platform fee, no trustee fee, no dealing charge. Either the maths is broken, or the rest of the industry has been overcharging.
Annual platform fee on a £200,000 SIPP - five providers
Compound that 0.35% over 20 years and it costs you tens of thousands.
SIPP costs on a £100,000 pot
| Provider | Platform fee | Dealing fee | Approx annual cost |
|---|---|---|---|
| Trading 212 | £0 | £0 | ~£0 |
| InvestEngine | £0 | £0 | ~£0 |
| Interactive Investor | ~£72 flat | £3.99/trade | ~£120 |
| Vanguard | 0.15% capped | £0 | ~£150 |
| Hargreaves Lansdown | 0.35% capped | £11.95/trade | ~£460 |
Trading 212's only cost is a 0.15% FX fee on non-GBP investments.
Key takeaways
Trading 212 has launched a SIPP with commission-free trading on over 13,000 stocks and ETFs, making it one of the cheapest pensions in the UK.
Uninvested cash earns interest at competitive rates, so your money is never sitting idle while you decide where to invest.
There are no platform fees, no dealing charges, and no trustee fee. The only cost is a 0.15% FX fee on non-GBP investments.
It is currently in beta with a waitlist, so access is being rolled out gradually. No flexi-access drawdown yet.