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14 Mar 2024

Plum investment platform review

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

Megan ThomasResearcher & writer

In this article

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

Is Plum any good?

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

Members can log in to see our review of Plum. If you're not already a member, join Which? and 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 Plum?

'Very easy to use, lots of options including automation rules. No problems so far, serves a purpose, makes managing money and investments easy.’
‘I really like Plum as it has a lot of tools to help me understand what I can do with my money. I'm not too versed in financial investment so it helps me.’
‘It's an easy-to-use platform and information is easy to find. If I need help, it’s easily done with great customer service.’

How much does Plum cost?

Shares in a general investment account are available within Plum's free-free membership tier, but you need to sign up to a paid tier to open a stocks and shares Isa.

Platform charge:

Free for basic-tier investing in shares in general investment account.
£2.99 a month for Pro plus a 0.45% annual platform charge.
£9.99 a month for Premium plus a 0.15% annual platform charge.

Trading charge:

None

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.

0.45% on US stocks

Fund charges:

Average charge of a fund on Plum is 0.24% – with a high of 1.06% and a low of 0.06%

How much would I pay to invest with Plum?

We've estimated the cost of investing over the course of a year in a Plum stocks and shares Isa, assuming that you make four purchases and four sales each year.

Costs will vary depending on how much you invest. Our estimates for portfolios over £25k are based on being a Premium customer, as it works out cheaper due to a lower platform charge of 0.15%.


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

Find out more: Compare investment platform fees and charges

What can you invest in with Plum?

Plum accounts and services

How many investments does Plum have?

33 funds (Premium tier only)
3,000 stocks (1,800 of these only available for Premium tier)

Correct as of January 2024

Is Plum good for ethical investors?

There are only three funds (out of 33 total) labelled as ESG (environmental, social and governance) or ethical to choose from on Plum (for paid tiers only).

These three funds either apply exclusions, which remove ‘controversial’ investments such as fossil fuel or tobacco companies, or set ESG criteria which companies must meet to be included.

You can’t invest in any funds that are designed to create a positive impact.

Find out more: Ethical investing explained

Is your money safe with Plum?

Plum is regulated by the Financial Conduct Authority (FCA) and covered by the Financial Services Compensation Scheme (FSCS). Investors using Plum will have their investments managed by Quai Investment Services Limited, which is also regulated by the FCA and covered 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.