InvestEngine

The Zero-Fee Revolution That Actually Works

In 2019, as established brokers fought over percentage points of fees, a team of fintech veterans asked a heretical question: what if investing cost nothing at all? Not “commission-free with hidden catches” like Robinhood. Not “free trades but platform fees” like many competitors. Actually free—zero platform fees, zero trading costs, zero account charges. The investment establishment scoffed. “Unsustainable,” they declared. “There’s always a catch.”

Five years later, InvestEngine has saved UK investors £34 million in fees while growing 200% annually to become the UK’s fastest-growing investment platform. In January 2025, they crossed £1 billion in assets under management, proving that zero-fee investing isn’t just sustainable—it’s the future. The 75,000 investors who processed 7.5 million ETF trades in 2024 alone aren’t complaining about the lack of fees.

The story begins with Simon Crookall, who had already disrupted one industry by founding Gumtree, the UK’s leading classifieds site. After selling Gumtree to eBay, Crookall could have retired to count his millions. Instead, he partnered with technologist Andrey Dobrynin to tackle a bigger challenge: democratizing access to the same low-cost ETF investing that institutions enjoyed. Backed by Ramsey Crookall, a 75-year-old Isle of Man wealth management firm seeking digital transformation, they set out to prove that technology could eliminate the toll booth between savers and their investments.

The Business Model That Broke the Mold

How does InvestEngine offer truly free investing when competitors charge 0.25-0.45% annually? The answer lies in a diversified revenue model that aligns platform success with customer success rather than extracting rent from assets.

First, they earn interest on uninvested cash—a transparent approach where the platform benefits when customers benefit from higher interest rates. Second, their Managed Portfolios and new LifePlans charge a modest 0.25% for professional management, creating a premium tier without penalizing DIY investors. Third, strategic partnerships with ETF providers generate revenue through distribution agreements—not the controversial “payment for order flow” but legitimate marketing relationships that don’t affect execution quality.

This model mirrors successful fintech disruptors like Revolut and Wise, who proved that transparent, activity-based revenue beats percentage-based wealth taxes. As co-founder Crookall explains: “Traditional platforms are incentivized to grow your assets under management because they take a percentage. We’re incentivized to grow your wealth because happy customers bring more customers.”

The numbers validate the approach. InvestEngine’s 117.6% growth rate led all UK investment platforms in 2024, catapulting them into the top 10 by assets despite being just five years old. The £218 million deposited into ISAs last year shows investors voting with their wallets—choosing zero fees over established brands.

Breaking Into the Billionaire’s Club

January 2025 marked a watershed moment when InvestEngine crossed £1 billion in assets under management. For context, it took established platforms like Hargreaves Lansdown decades to reach this milestone. InvestEngine did it in five years, during a period including a global pandemic, inflation crisis, and market volatility.

The growth trajectory tells a story of accelerating adoption. From £500 million in May 2024 to £1 billion eight months later represents not just linear growth but exponential network effects. Each satisfied customer becomes an evangelist for zero-fee investing. The platform’s Net Promoter Score of 73 (versus industry average of 45) shows customers actively recommending InvestEngine to friends and family.

But growth without profitability is just venture capital combustion. InvestEngine’s diversified revenue streams and lean operations mean they’re building a sustainable business, not just burning cash for market share. The recent removal of all SIPP fees in December 2024—while competitors still charge 0.15-0.25%—shows confidence in their model rather than desperation for growth.

The ETF Curation Philosophy

InvestEngine offers 700+ ETFs from leading providers like iShares, Vanguard, and Invesco—a deliberately curated universe rather than the thousands available elsewhere. This isn’t limitation; it’s liberation. By focusing on best-in-class ETFs for each market segment, they eliminate choice paralysis while ensuring quality.

The selection criteria prioritize investor outcomes: low costs, high liquidity, robust tracking, and reputable providers. You’ll find multiple options for core exposures—US equities, global bonds, emerging markets—but won’t get lost in exotic products that add complexity without value. Whether you want accumulating or distributing, hedged or unhedged, ESG-screened or traditional, the essential building blocks are there.

This curation extends to innovative products. When thematic investing gained traction, InvestEngine added carefully selected technology, healthcare, and clean energy ETFs. As cryptocurrencies matured, they included regulated crypto ETPs. The platform evolves with investor needs while maintaining quality standards—a stark contrast to platforms offering every conceivable product regardless of suitability.

The Technology That Makes Free Possible

Behind InvestEngine’s zero-fee promise lies sophisticated technology that automates what traditional platforms do manually. Their proprietary smart order routing ensures best execution across multiple venues. Automated rebalancing maintains target allocations without manual intervention. Fractional share technology enables £1 minimum investments in ETFs trading at hundreds of pounds.

The platform architecture prioritizes efficiency and scale. Cloud-native infrastructure adapts to demand spikes without the fixed costs of legacy systems. API-first design enables rapid feature development and third-party integrations. Machine learning algorithms optimize everything from cash management to customer service routing.

But technology serves experience, not the reverse. The web platform and mobile apps (both rated 4.7+ stars) hide complexity behind intuitive interfaces. Building a diversified portfolio takes minutes, not hours. One-click rebalancing maintains target allocations. AutoInvest schedules regular contributions. Portfolio analytics show your geographic, sector, and currency exposures without overwhelming detail.

The December 2024 launch of open banking-powered Variable Recurring Payments exemplifies this philosophy. Instead of fixed direct debits, investors can now automate flexible contributions that adapt to their cash flow. It’s a small feature with big impact—removing friction from the investing habit.

LifePlans: The Gateway Drug to Investing

November 2024’s launch of LifePlans represents InvestEngine’s answer to choice paralysis. Five risk-rated portfolios—from 20% to 100% equity allocation—offer professionally designed, globally diversified strategies for investors who want quality without complexity.

Each LifePlan follows institutional best practices: strategic asset allocation based on risk tolerance, global diversification without home bias, regular rebalancing to maintain targets, and gradual de-risking as you approach goals. The 0.25% management fee includes everything—no hidden costs, no transaction charges, no rebalancing fees.

What makes LifePlans special isn’t just professional management but behavioral design. The onboarding process takes under five minutes. Risk assessment uses plain English, not financial jargon. Goal-based projections show pounds and probabilities, not abstract percentages. It’s designed for people who want to invest wisely but don’t want investing to become a hobby.

Early adoption data shows LifePlans attracting two distinct groups: complete beginners taking their first investment steps and experienced investors consolidating multiple accounts into a simplified approach. Both appreciate the combination of professional design, transparent costs, and goal-based structure.

The Customer Success Story

InvestEngine’s rapid growth reflects more than just zero fees—it’s about removing every barrier between savers and investing. The £100 minimum deposit (versus £500+ elsewhere) opens doors for younger investors. The ISA and SIPP wrappers included free (versus £45-100 annually elsewhere) maximize tax efficiency. Extended support hours (5:30am-11pm weekdays) accommodate real working schedules.

Customer stories illuminate the impact. Sarah, a teacher from Manchester, started investing £50 monthly in a global ETF portfolio. “I always thought investing required thousands of pounds and finance knowledge. InvestEngine proved me wrong.” Two years later, her portfolio has grown to £1,500—not life-changing money, but life-changing habits.

James, a software engineer, transferred his £50,000 portfolio from a percentage-fee platform. “I was paying £225 annually for buy-and-hold ETF investing. InvestEngine does the same thing free. That £225 now gets invested instead of extracted.” Over 30 years, that annual saving compounds to over £20,000—real money retained through zero fees.

Business accounts, added in 2024, extend zero-fee investing to companies. Startups can invest surplus cash without eating into limited budgets. Consultants can build tax-efficient portfolios through their limited companies. It’s another barrier removed, another constituency served.

The MoneyWeek Moment

Winning MoneyWeek’s 2024 Reader’s Choice Award might seem like just another accolade, but it represents something deeper. MoneyWeek readers are sophisticated, skeptical investors who’ve seen every investment fad and platform promise. Their endorsement validates that zero-fee investing isn’t a gimmick but a genuine innovation.

The award citation praised InvestEngine for “transforming UK investing by proving that quality platforms don’t require fees.” Coming from readers who manage their own portfolios and understand true costs, this recognition carries weight. It’s word-of-mouth marketing you can’t buy—credibility earned through execution, not advertising.

The Competitive Moat

As InvestEngine’s success attracts attention, competitors will inevitably attempt zero-fee offerings. But InvestEngine has built defensible advantages beyond just price:

First-mover network effects mean 75,000 customers already benefit from and advocate for the platform. The technology infrastructure, built cloud-native from day one, provides cost advantages legacy platforms can’t match. Strategic ETF provider relationships, cultivated over five years, create win-win distribution agreements. The trusted brand, validated by MoneyWeek readers and 73 NPS score, took years to build.

Most importantly, the aligned business model creates virtuous cycles. Happy customers bring more customers, reducing acquisition costs. Growing assets strengthen provider negotiations. Technology investments compound efficiency gains. It’s a flywheel that accelerates with scale.

Who Wins with Zero Fees?

InvestEngine’s zero-fee model creates clear winners:

The Starting Investor: With £100 minimum and no fees, the barrier to entry disappears. Emma, fresh from university, can start investing her first paycheck without fees eroding small contributions.

The Cost-Conscious Accumulator: David, saving for retirement, keeps every pound working instead of paying platform taxes. Over 30 years, avoiding 0.25% fees on a £100,000 portfolio saves £30,000.

The ETF Enthusiast: Michael, who builds sophisticated factor-based portfolios, executes complex strategies without transaction costs eating returns.

The Recovering Active Trader: Lisa, who lost money day trading, now builds wealth through disciplined ETF investing, with zero fees removing the temptation to overtrade.

The Business Owner: Tech startup Velocity invests surplus cash in short-term bond ETFs, earning returns without platform fees reducing already-thin margins.

The Limitation Liberation

InvestEngine’s constraints—ETFs only, no individual stocks, no derivatives—become strengths for their target market. By doing one thing brilliantly (low-cost ETF investing), they avoid the feature creep that complicates competitor platforms.

You can’t buy GameStop shares or trade forex. You can’t access penny stocks or complex options. For investors seeking gambling thrills, InvestEngine disappoints. But for those building long-term wealth through diversified, low-cost portfolios, these limitations protect rather than restrict.

The platform makes explicit trade-offs. No phone support keeps costs down for digital-native investors. Limited marketing budgets mean growing through word-of-mouth rather than Super Bowl ads. These choices enable zero fees while maintaining service quality for the target audience.

The Future of Free

InvestEngine’s success poses uncomfortable questions for established platforms. If a five-year-old startup can offer sophisticated ETF investing with zero fees, why do incumbents charge 0.25-0.45% for the same service? The answer—“because they can”—becomes less defensible as customers vote with their feet.

We’re witnessing a generational shift in investment platforms. Just as discount brokers disrupted full-service brokers in the 1990s, zero-fee platforms are disrupting percentage-fee models in the 2020s. InvestEngine leads this charge not through venture capital subsidies but through a sustainable business model that aligns platform and customer interests.

The roadmap ahead promises continued innovation. Enhanced analytics for portfolio optimization. Educational content partnerships. Expanded ETF selection as new products emerge. Potential expansion into European markets. All while maintaining the core promise: zero fees for DIY ETF investing.

The Verdict: Free Isn’t Just the Future—It’s Now

InvestEngine has achieved what skeptics deemed impossible: sustainable zero-fee investing that doesn’t compromise on quality. For UK investors focused on building long-term wealth through ETFs, it’s become the logical choice. Why pay platform fees that compound negatively over decades when a quality alternative costs nothing?

The platform isn’t perfect. Individual stock investors need traditional brokers. Options traders require derivatives platforms. Those seeking hand-holding might prefer robo-advisors. But for the growing cohort of self-directed ETF investors—from beginners to sophisticated practitioners—InvestEngine offers unbeatable value.

Simon Crookall’s vision of democratizing institutional-quality investing has materialized in the most literal way: making it free. As £1 billion under management demonstrates, UK investors are embracing this future. In a world where every basis point matters for long-term returns, InvestEngine’s zero-fee revolution isn’t just disruptive—it’s inevitable.

Investment Warning: The value of investments can go down as well as up, so you may get back less than you invest. Past performance is not a guide to future performance.