Both are FCA regulated and FSCS protected. The real differences are fees, investment range and how each platform feels to use. Here is the honest comparison.
Fees verified July 2026. Capital at risk. Information, not financial advice.
Hands-off investors happy to hold only Vanguard index funds and LifeStrategy.
Index fund investors who want the lowest possible total cost and are comfortable with a newer app.
| Fee | Vanguard | Prosper |
|---|---|---|
| Platform fee | £4/month minimum below £32k; 0.15% above £32k, capped at £375/year | £0 |
| Share dealing | Not available (funds and Vanguard ETFs only) | Not applicable (funds and ETFs) |
| Fund dealing | Free | Free |
| FX fee | None (GBP funds) | None on GBP fund classes |
| Stocks & Shares ISA | Platform fee applies | Free |
| SIPP | Platform fee applies | Free |
| Withdrawals | Free | Free |
| Minimum to start | £100/month or £500 lump sum | No minimum |
Long-term investors praise the low fund costs and the simplicity of LifeStrategy portfolios.
The £4 minimum monthly fee frustrated smaller investors when it landed, and some reviews mention slow customer service.
Read Vanguard reviews on TrustpilotEarly adopters praise the zero fees and responsive founding team; roughly 84% of reviews are five stars.
The review base is small and some users want more account types and a web version.
Read Prosper reviews on TrustpilotVanguard UK is the default answer for one-fund index investing. If your plan is a LifeStrategy or FTSE Global All Cap fund and nothing else, the combination of cheap funds and a capped 0.15% platform fee is excellent, especially above £32,000.
Below £32,000 the £4 monthly minimum changes the maths, and a free platform like Trading 212 or Prosper holding a similar Vanguard ETF can work out cheaper. You also cannot hold individual shares or other fund managers' products.
Prosper's pitch is the cheapest total cost of ownership in the UK: no platform fee, no dealing fees, and refunded fund fees on a list of mainstream index funds. For a straightforward global tracker in an ISA or SIPP, the all-in cost can genuinely be zero.
The counterweight is maturity. It is a young platform with a small (if very positive) review base and no individual shares. If that trade-off suits you, the price is unbeatable.
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.