Both are FCA-regulated and FSCS-protected. The real difference is fees, account types and how each platform feels to use. Verified against each provider’s published charges.
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.
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Tick what you need above and we'll tell you which of the two covers it.
Account availability verified July 2026. Capital at risk. Information, not financial advice.
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 Trustpilot| 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 |
Fidelity 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.
It depends on what you hold and how often you trade. Fidelity's platform fee is 0.35% up to £250k (0.20% above); £90/year flat if under £25k without a regular savings plan, against £0 on ISA and Share Dealing Account; SIPP 0.25% capped at £16.50/month at Scottish Widows. On dealing, Fidelity charges £7.50 per online trade for shares and free for funds, while Scottish Widows charges £5.00 per UK trade (£0 commission on international, 1.5% FX applies) for shares and £5.00 per trade for funds. Fees verified July 2026.
Fidelity is best for fund investors who value guidance, tools and phone support. Scottish Widows is best for self-directed investors who want low-cost, no-platform-fee share dealing from a major UK bank. Both are FCA regulated and covered by the FSCS.
On Fidelity's ISA: Platform fee applies. On Scottish Widows's ISA: No annual charge. Scottish Widows offers a flexible ISA and Fidelity does not. Minimums are £25/month or £1,000 lump sum at Fidelity and £50 at Scottish Widows.
Fidelity offers a SIPP (platform fee applies). Scottish Widows offers a SIPP (0.25% per year, capped at £198).
Fidelity scores 4.6 out of 5 on Trustpilot (Excellent) from over 6,500 reviews. Scottish Widows scores 4.6 out of 5 (Excellent) from over 13,000 reviews. The £7.50 share dealing charge and dated parts of the website draw criticism. Common gripes are the 1.5% FX fee on US shares and the dated feel of parts of the web platform.
Yes. UK platforms accept ISA and SIPP transfers in, and you start the transfer with the receiving provider rather than the one you are leaving. Fidelity charges free on withdrawals and Scottish Widows charges free (CHAPS same-day payment £25). Transfer as cash and you are out of the market while it settles; transfer in specie and you keep your holdings but it takes longer.
Fidelity or Scottish Widows, the account is the easy part. What decides when you can retire is how much goes in and for how long. Delphina works that out from what you already hold and what you pay in each month.
Free to check. No card required. Takes about two minutes.