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.
Active investors who want professional tools alongside long-term holdings.
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 | IG | Scottish Widows |
|---|---|---|
| Platform fee | £0 (custody fee removed January 2026) | £0 on ISA and Share Dealing Account; SIPP 0.25% capped at £16.50/month |
| Share dealing | £0 commission with instant currency conversion | £5.00 per UK trade (£0 commission on international, 1.5% FX applies) |
| Fund dealing | Not available (shares and ETFs only) | £5.00 per trade |
| FX fee | 0.7% | 1.5% |
| Stocks & Shares ISA | Free | No annual charge |
| SIPP | Available, third-party administration fees apply | 0.25% per year, capped at £198 |
| Withdrawals | Free | Free (CHAPS same-day payment £25) |
| Minimum to start | No minimum | £50 |
Experienced traders rate the platform quality, charting and market access.
Lower scores than rivals, with complaints about account queries and the complexity of the product range.
Read IG 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 TrustpilotIG is best known for trading, but its share dealing account and ISA became far more competitive in 2026 when it removed custody fees and commissions. You get institutional-quality tools with no platform charge.
The 0.7% currency conversion fee is the main cost to watch on US shares, and there are no traditional funds. It suits confident investors; beginners will find simpler homes elsewhere.
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.