interactive investor vs Scalable Capital — which broker is better?

Pros

• Flat monthly subscription instead of a percentage of assets — GBP 71.88 a year on Core covers a GBP 100,000 portfolio, against GBP 250–350 at percentage-based rivals
• GBP 3.99 per UK and US share trade on Core and Plus, GBP 2.99 on Premium, with one or two free trade credits included on the higher plans
• The Trading Account, Stocks and Shares ISA and SIPP are all covered by the same subscription, with the pension admin fee already inside the price and no charge for pension withdrawals
• Cash can be held in GBP, EUR and USD with interest paid on all three, so a US round trip does not have to cross the FX spread twice
• Free regular monthly investing from GBP 25 on every plan, and free transfers both in and out
• Over 40,000 investment options across 17 global markets, including a bond and gilt range that is among the better ones on a UK retail platform
• Strong editorial research: Morningstar-rated fund selections, ii's own research hub and market commentary from an experienced financial journalism team
• UK-based contact centre, with an international dealing desk open until 21:00 for US market hours

Cons

• The flat fee is punishing on small balances — GBP 71.88 a year is 1.44% on a GBP 5,000 portfolio, where a percentage platform would charge under GBP 20
• The Core plan is capped at a GBP 100,000 portfolio, so crossing that line forces a jump to Plus at GBP 179.88 a year — a 150% increase triggered by portfolio growth rather than by anything you choose
• Dividend reinvestment costs 99p per holding on Core and Plus, which quietly erodes the flat-fee advantage for income investors with many small positions
• A string of ancillary charges other UK platforms do not levy: GBP 5 a month for non-UK residents, GBP 2 plus VAT a month for paper documents, GBP 25 for a failed payment, GBP 30 a month for company and trust accounts
• Only 17 global markets against 24 at AJ Bell, non-UK and non-US international shares cost GBP 9.99 a trade on Core, and there are no options, futures, CFDs, direct crypto, fractional shares or demo account
• Support is weekdays only, 07:45–17:30, with no weekend cover — AJ Bell answers the phone on Saturdays and Sundays

Pros

• Free savings-plan executions from EUR 1 with fractional amounts, across more than 2,700 ETFs, 4,500 shares and 3,800 funds - the deepest catalogue in Europe.
• PRIME+ at EUR 4.99 a month makes trading a fixed cost rather than a variable one; commission-free orders from EUR 250 on EIX break even at roughly five trades a month. Purchases of PRIME ETFs (Amundi, iShares, Vanguard, Xtrackers) from EUR 250 on EIX are free on the FREE Broker as well, so they do not count towards that.
• Holds its own full ECB banking licence since September 2025 and custodies client securities itself, with cash covered to EUR 100,000 and PRIME+ balances spread across partner banks for wider statutory coverage.
• 2.60% p.a. on the Scalable Overnight cash account, paid monthly - on unlimited cash, with or without PRIME+.
• More than 3,800 mutual funds tradable without the front-end load, which is unusual at a flat-fee broker and useful for anyone holding legacy fund positions.
• German residents get Abgeltungsteuer, solidarity surcharge and church tax withheld and remitted automatically, with annual tax certificates issued.
• Broker, cash account, robo-advisor (Scalable Wealth) and a securities-backed credit line all sit behind one login, which is a genuine consolidation argument.

Cons

• Since 1 September 2026 gettex orders cost up to EUR 1.99 on every plan, up from EUR 0.99, which wiped out the PRIME+ commission-free advantage that made the subscription compelling on that venue.
• Only three trading venues - EIX, gettex and Xetra - with no direct access to US or other foreign exchanges, so you buy foreign shares through a German quote rather than on their home market.
• On EIX, Scalable is the single market maker on the venue it routes you to by default, which is the same broker-as-counterparty conflict the post-PFOF industry inherited.
• Euro-only accounts with no multi-currency balances and no itemised FX charge, so the true cost of a foreign share purchase is not visible on the contract note.
• No telephone support: chat and email only, with slow replies and delayed tax documents the most common complaint in user reviews.
• Fractional trading works in savings plans but not in ordinary lump-sum orders, and there is no demo account.