Both are FCA regulated and FSCS protected. The real differences are fees, investment range and how each platform feels to use. Here is how they actually stack up.
Fees verified July 2026. Capital at risk. Information, not financial advice.
Fund investors who value guidance, tools and phone support.
Self-directed investors who want low-cost, no-platform-fee share dealing from a major UK bank.
Whichever you pick, the fee gap is small next to knowing whether you are saving enough at all. See if you are on track, free, in about two minutes.
| Fee | Fidelity | Scottish Widows |
|---|---|---|
| Platform fee | 0.35% up to £250k (0.20% above); £90/year flat if under £25k without a regular savings plan | £0 on ISA and Share Dealing Account; SIPP 0.25% capped at £16.50/month |
| Share dealing | £7.50 per online trade | £5.00 per UK trade (£0 commission on international, 1.5% FX applies) |
| Fund dealing | Free | £5.00 per trade |
| FX fee | 0.75% tiered | 1.5% |
| Stocks & Shares ISA | Platform fee applies | No annual charge |
| SIPP | Platform fee applies | 0.25% per year, capped at £198 |
| Withdrawals | Free | Free (CHAPS same-day payment £25) |
| Minimum to start | £25/month or £1,000 lump sum | £50 |
Reviewers highlight helpful phone support and a straightforward transfer process.
The £7.50 share dealing charge and dated parts of the website draw criticism.
Read Fidelity reviews on TrustpilotLong-standing customers value the low flat-fee share dealing and the Lloyds Banking Group backing; recent reviews praise the move into the Scottish Widows app.
Common gripes are the 1.5% FX fee on US shares and the dated feel of parts of the web platform.
Read Scottish Widows reviews on TrustpilotFidelity is a solid full-service choice for fund investors. Fund dealing is free, the ETF and share service fee is capped at £90 a year, and the guidance content is some of the best of the big platforms.
Costs are less friendly if you trade shares often or hold a small account without a regular savings plan. Compare it against AJ Bell if you want similar breadth with lower dealing charges.
Scottish Widows Share Dealing is the rebranded IWeb platform, now run by Halifax Share Dealing Limited inside Lloyds Banking Group. It charges no annual fee on the ISA or General Investment Account, £5 per UK trade and free regular investing through a Regular Investment Plan. For a buy-and-hold investor making occasional trades, the all-in cost can be very low.
The trade-off is the 1.5% FX charge on US and other non-GBP trades, which adds up quickly for global investors, and no Junior ISA. The SIPP is competitively priced at 0.25% capped at £16.50 a month. Compare it against Trading 212 or Freetrade if FX cost matters, and against AJ Bell or Hargreaves Lansdown if you want funds and full-service support.
A 0.2% fee difference is worth optimising. Knowing whether you are saving enough in the first place is worth far more. Delphina models your pensions, ISAs and investments and tells you where you actually stand.
Free to check. No card required. Takes about two minutes.