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.
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.
Tick what you need. No account, no email. The answer is on this page.
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.
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 Trustpilot| 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 |
IG 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.
It depends on what you hold and how often you trade. IG's platform fee is £0 (custody fee removed January 2026), against £0 on ISA and Share Dealing Account; SIPP 0.25% capped at £16.50/month at Scottish Widows. On dealing, IG charges £0 commission with instant currency conversion for shares and not available (shares and ETFs only) 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.
IG is best for active investors who want professional tools alongside long-term holdings. 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 IG's ISA: Free. On Scottish Widows's ISA: No annual charge. Both offer a flexible ISA, so you can withdraw and replace money in the same tax year without using up allowance. Minimums are No minimum at IG and £50 at Scottish Widows.
IG offers a SIPP (available, third-party administration fees apply). Scottish Widows offers a SIPP (0.25% per year, capped at £198).
IG scores 3.8 out of 5 on Trustpilot (Great) from around 8,500 reviews. Scottish Widows scores 4.6 out of 5 (Excellent) from over 13,000 reviews. Lower scores than rivals, with complaints about account queries and the complexity of the product range. 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. IG 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.
IG 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.