July 25, 2014

Interactive Investor joins Fidelity in removing exit fees

Interactive Investor has joined Fidelity in removing exit fees for customers. However unlike Fidelity, Interactive Investor’s removal of exit fees is only applicable to new customers according to Money Mail.

The flat-fee fund platform is waiving its £15 per line of stock exit fee for a year in order to give investors the confidence to try out its service on a no strings attached basis.

According to Money Mail, an industry ‘insider’ revealed to them that it only costs approximately £8 for a fund platform to transfer a fund to a different platform, far below the £30 charged by some providers.

 

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