iWeb Review UK 2024 | InvestingReviews (2024)

iWeb Review UK 2024 | InvestingReviews (1)

iWeb Product Range Overview

There are three main accounts on offer at iWeb

  • ISA
  • SIPP
  • Share dealing account

At this low cost, our iWeb Share Dealing review found that they offer a decent variety of assets including:

Share Trading

Your iWeb Share Dealing account can be used to trade shares on the London Stock Exchange, New York, NASDAQ, and Euronext Stock Exchanges with more than 1500 shares across seven countries including popular UK stocks like Tesco and Royal Mail. This would certainly be enough to satisfy most investors and is certainly in line with what the competition is offering customers looking to trade.

The only real downside we came across is that there was no option for share trading in emerging markets across Asia and Africa but of course this isn’t important to all investors and really comes down to personal opinion.

Mutual Funds, ETFs and Investment Trusts

Again enough variety to satisfy most appetites with over 2,000 mutual funds, over 575 ETFs and over 250 Investment Trusts all primarily covering markets in the UK and US.

However, less experienced traders should be aware that there are no ready made portfolio offerings and very little in the way of guidance as to which funds are recommended.

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Whilst unremarkable, the iWeb stocks and shares ISA does offer everything you need it to, allowing you to invest in shares, funds, bonds, gilts, ETFs and investment trusts on seven world markets.

As with all the other offerings at iWeb Share Dealing, its strength in its stocks and shares ISA lies mainly in its low fees and no annual administration charges. There’s just a one-off charge of £100 when you open your account, and a £5 dealing commission per trade on UK and international trades. Fees for currency conversions when buying international shares in GBP are 1.5% to the exchange rate for buys, and take away 1.5% for sales. An indicative exchange rate will be shown prior to trading and the final rate will be shown once the trade is completed, according to the iWeb sharedelaing website.

iWeb SIPP Review

Like the ISA, there is a £100 account opening fee with the SIPP at iWeb, however, there is also the quarterly administration fee of £22.50 for accounts that are valued up to £50,000. This fee goes up to £45 if your account is valued at over £50,000.

The SIPP at iWeb is controlled by AJ Bell, who are a reputable provider so no issues there.

iWeb Platform Review

Essentially the investment platform at iWeb Share Dealing is the same as its parent companies, Halifax and Lloyds which is a blessing as it brings a modern edge to iWeb Share Dealing that the website is sadly lacking. The main issue is the lack of mobile app, which many discerning traders have come to expect from an online platform.

The investment platform can be accessed through the browser on your mobile phone, and is easy enough to use in this format, however this is streets behind the app offering from a lot of iWeb’s competitors.

In terms of a platform fee, iWeb have no annual fee outside of the £100 one-off account opening charge.

Research Service and Tools Review

When it comes to research and tools, the main feature on the iWeb Share Dealing trading platform is the Shares and Funds Centres. This provides you with the capability to search for potential investments which is a useful little tool when it comes to selecting mutual funds, ETFs and investment trusts as well as access the latest share prices.

iWeb does provide a news feed from Web Financial Group, however, as this is already freely available on the web and there is no option for sorting news stories that might be related to the stocks you are interested in, this is of very little value to iWeb customers.

We found the tools and data to be fairly basic, however iWeb do make up for this with really informative technical charting. Whilst these charts are tricky to navigate from a mobile device, they do have over 90 built-in indicators and provide access to candlestick-style price charts.
iWeb Review UK 2024 | InvestingReviews (2)

iWeb Fees and Charges Review

There is no doubt that this is where the true value of iWeb lies, with low cost fees that are hard to beat. There is a flat fee of £100 to open your share dealing account, ISA or SIPP, however with no monthly charges , no management fees and no deposit or withdrawal fees, this represents real value in the sector.

For SIPP accounts there is a quarterly flat fee of £22.50 if the value of your account is less than £50,000 and £45 if it is more than £50,000.

Once your account is open and you are ready to start trading you can expect to pay £5 per trade commission for buying and selling assets. As a comparison with a similar platform, Halifax charges £12.50 per trade and as the parent company of iWeb, with similar trading available and a similar platform, you only need to complete a handful of trades to start seeing real savings on what you could be paying elsewhere.

For investments in funds, you will also be charged Ongoing Charges and Transaction Costs to the fund manager per year. This is taken as a percentage of your investment amount and varies considerably depending on the fund you select. There are of course almost 3,000 funds to choose from, however, each fund has been individually priced on the iWeb website alongside the 5 year annualised return and Morning Star rating.

If you would like to reduce this bill even further then you could consider utilising their discount for regular investing. The set up would only set you back £2 and once it’s all up and running you only pay £2 per trade.

One thing that is worth bearing in mind, is that if you are intending on purchasing with any currency, other than the one used by the index you’re purchasing from, there will be a 1.5% currency conversion charge levied on your account.

Guide to opening an iWeb account

Opening an account with iWeb can be done in a matter of minutes however there are some circ*mstances where the process cannot be completed electronically and you will be asked to provide additional documentation to confirm your proof of identity and proof of address. You should expect to put aside up to an hour to fill out all the necessary documentation to get your account up and running.iWeb Review UK 2024 | InvestingReviews (3)

Guide to transferring your investments to iWeb

iWeb does not charge a transfer fee for transferring your investments or cash to their platform, however, you would be wise to check there are no exit fees from your previous provider.

Transfers usually take between 2 and 3 weeks to complete if they are coming from the UK and 6 to 8 weeks for international shares or funds. All transfers are done online using iWeb transfer form.

If you are looking to transfer your pension to iWeb then you can expect to pay £60 per pension up to a maximum of £300. This will usually take between 6-12 weeks to complete.

iWeb Customer Service Review

iWeb has decent customer service with a webchat function that was answered promptly and is available Monday to Friday from 8am to 9pm. They also have telephone support at slightly reduced hours.

In terms of FAQ’s or any real information on their website, it is a very limited offering, however, we didn’t see this as much of a downside when the chat function operates so well.

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iWeb Review UK 2024 | InvestingReviews (2024)


Is iWeb any good? ›

iWeb offers decent value for some types of investors. It offers a wide range of investments from the UK and abroad. iWeb offers a secure and safe place for people to invest. The platform has a few tax-efficient accounts.

How secure is iWeb? ›

iWeb security is OK, most of the major platforms are OK. However, I find most of them don't seem to have 2FA which is definitely an area for improvement across the board. TBH they could learn a thing or two from the major crypto exchanges (tin hat on ready!). I believe 2FA is on Vanguard's 'to do' list though.

Can I still use iWeb? ›

macOS Catalina will no longer launch 32 bit apps, including iWeb. This is the end of the line for iWeb.

How long does it take to withdraw money from iWeb? ›

On the day of settlement the money from a sale will be available for you to withdraw. Most UK, US and European trades take two working days to settle. This settlement period allows time for the delivery of the stock and cash and for any other trade administration to be completed.

What is the safest type of website? ›

A secure website's URL should begin with “https” rather than “http”. The “s” at the end of “http” stands for secure and is using an SSL (Secure Sockets Layer) connection.

What is the use of iWeb? ›

iWeb is a Mac iLife program that allows users to use pre-made templates to easily put together a personal website.

What is the safest online broker? ›

Best Online Brokerage Accounts and Trading Platforms of 2024
  • Best Overall: Fidelity.
  • Best for Low Costs: Fidelity.
  • Best for Beginners: Charles Schwab.
  • Best for Advanced Traders: Interactive Brokers.
  • Best for ETFs: Fidelity.
  • Best for Options Trading: tastytrade.
  • Best for International Trading: Interactive Brokers.

What can I use instead of iWeb? ›

We believe great software should work with minimum set up, so you can focus on sharing your story, product, or services freely.
  • - WordPress is the most popular Web-based, Windows, Android & Mac alternative to iWeb.
  • - WordPress is the most popular Open Source & free alternative to iWeb.

Who is iWeb owned by? ›

With a range of tools to find your next investment opportunity. IWeb is part of Lloyds Banking Group.

What is the best stock market information website? ›

Top 10 Stock Market Investment Research Sites
  • Motley Fool Stock Advisor.
  • Motley Fool Rule Breakers.
  • Seeking Alpha.
  • Moby.
  • Stock Market Guides.
  • Value Investing.
  • Morningstar.
  • Yahoo! Finance.
Mar 18, 2024

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