By clicking a retailer link you consent to third party cookies that track your onward journey. If you make a purchase, Which? will receive an affiliate commission which supports our mission to be the UK's consumer champion.

01 Apr 2024

AJ Bell investment platform review

Which? experts analyse AJ Bell's charges and ask its customers to rate it for service, tools, value for money and more

Megan ThomasResearcher & writer

In this article

Is AJ Bell any good?
What do customers say about AJ Bell?
How much does AJ Bell cost?
What is Dodl by AJ Bell?
What can you invest in with AJ Bell?
Is AJ Bell good for ethical investors?
Is your money safe with AJ Bell?

Is AJ Bell any good?

Which? members can exclusively read the results of our unique customer satisfaction survey.

Members can log in to see our review of AJ Bell. If you're not already a member, join Which? to get full access to these results and all our reviews.

To become a Which? Recommended Provider (WRP) for either stocks and shares Isas or general investment accounts, a platform needs to have a customer score of at least 70%, not be in the top 25% most expensive in one of our fees scenarios, and not score lower than three stars in any category.

On top of these criteria, we apply statistical tests that place the platforms into ‘bands’, and only the platforms in the highest band – the ones that really stand out against the rest – can be a WRP.

Which?'s rating for customer satisfaction is based on feedback from customers.

We ask investors to rate their current platform for its ease of use, overall customer service and customer communications, whether it represents value for money, if they are satisfied with it overall and whether they would recommend it to someone else.

In January 2024, we heard 4,136 reviews and gave customer scores to 17 do-it-yourself investment platforms. Each platform must have at least 30 responses, a minimum of three investments to choose from yourself, and not offer contract for difference (CFD) trading to receive a customer score.

What do customers say about AJ Bell?

‘It's a very modern and accessible site that suits me and I would imagine people of all levels of experience.’
‘They offer a comprehensive, easy to use and value for money platform.’
‘Easy to use for someone with not much investing experience. A good variety of investment opportunities with decent fees.’

How much does AJ Bell cost?

There's no difference in fees whether you're investing in an AJ Bell stocks and shares Isa or general investment account.

Annual platform charge:

0.25% of the value of your portfolio worth up to £250,000
0.10% on value between £250,000 and £500,000
no charge above £500,000 (capped at £3.50 a month on shares dealing)

Trading charges:

£1.50 to buy and sell funds
£5 to buy and sell shares5)
£3.50 if you had 10 or more share deals in the previous month

Foreign exchange charge:

This applies to each trade of investments denominated in another currency, for example US stocks, on top of fund and trading charges.

0.75% on first £10,000
0.50% on next £10,000
0.25% on value over £20,000

How much would I pay to invest with AJ Bell?

We've estimated the cost of investing with AJ Bell over the course of a year in a stocks and shares Isa.

Costs will vary depending on how much you invest and whether you trade funds or shares. All assume you make four purchases and four sales each year, spread out over different months.


£5,000
£10,000
£25,000
£50,000
£100,000
£250,000
£500,000

If you're thinking of using AJ Bell to take an income from your pension in a drawdown plan, read our comparison of pension drawdown plans and charges.

Find out more: Compare investment platform fees and charges

What is Dodl by AJ Bell?

Dodl is a cheaper and simplified platform run by AJ Bell, which offers fewer investments.

These are AJ Bell funds, 'themed investments' (eg a specific sector or region), and 80 UK and US shares.

The cost of investing with Dodl is 0.15% of the value of the account, with a minimum of £1 a month.

Dodl did not receive enough reviews to get a customer score of its own in our survey.

What can you invest in with AJ Bell?

AJ Bell accounts and services

General investment account
Stocks and shares Isa (not a flexible Isa)
Junior investment Isa
Self-invested personal pension (Sipp)
Junior Sipp
Lifetime Isa
Income drawdown
Savings account
Ready-made portfolio
Ready-made pension

Investments on AJ Bell

4,429 funds (OEICs, multi-asset funds)
420 trusts
3,503 exchange-traded funds
15,785 stocks
278 bonds and 93 gilts

Correct as of January 2024

Is AJ Bell good for ethical investors?

Users of AJ Bell can filter investments by Morningstar sustainability rating – a measure of how well funds are managing ESG (environmental, social, and governance) risks.

It also lists the fund’s top 10 holdings, so you can see the companies making up the largest portions of investment in a fund.

Find out more: Ethical investing explained

Is your money safe with AJ Bell?

AJ Bell is regulated by the Financial Conduct Authority and covered by the Financial Services Compensation Scheme (FSCS).

When you invest with an investment platform that's registered with the Financial Conduct Authority, your money will be ring-fenced and should be returned to you if a company goes bust – without having to wait alongside other creditors.

If ring-fencing failed, you would be compensated by the FSCS.

The FSCS will cover up to £85,000 of investments per person, per platform. You can claim for free online at www.fscs.org.uk: there's no reason to use a claims management company.

You won't be compensated for investments falling in value, or if a company in which you hold shares goes bust, unless this poor performance resulted from bad advice given by a regulated Independent Financial Advisor that has since gone bust.