Lightyear or Vanguard – which is better for UK traders 2024? Compare Lightyear and Vanguard in this detailed breakdown of their platforms, features and fees.
Lightyear is a trading app that offers multi-currency investing with low-commission US, EU and UK stocks, no commission on ETF trades, and the chance to earn high interest on uninvested USD, GBP and EUR. The firm launched in 2015 and UK retail traders will be registered under the Lightyear Financial Ltd entity. This company is authorised and regulated by the Financial Conduct Authority (FCA), license number 955739. Capital at risk
Vanguard is a US-headquartered brokerage with 50 million clients globally and $8+ billion in assets under management. The brands offers investing in stocks, mutual funds, bonds, ETFs and options with low fees. The trusted broker is regulated by the SEC, FINRA and FCA.
Capital at risk
Pros
Lightyear offers a user-friendly trading app with thousands of global equities
The investing app has been featured in the Financial Times & CNBC
Low-cost trading with no hidden fees or inactivity penalties
Traders can earn interest on uninvested cash
Low starting deposit of just $1 for new investors
Trusted since 1975 with strong regulatory oversight in the US and UK
Retirement and ISA accounts available alongside traditional investing solutions
Fully managed accounts providing a hands-off approach to investing
Excellent education and user guides compared to alternatives
Competitive fee structure with a 0.15% account fee
Commission-free stock and ETF trading
Well-designed mobile app
ESG funds available
Cons
Platform features are basic and won't meet the needs of seasoned traders
Limited range of instruments with no forex trading
No demo account for prospective users
No MetaTrader 4 integration
No copy trading service
Limited payment methods - credit cards, cheques and e-wallet are not supported
High minimum investment amounts, including $3000 for the majority of mutual funds
No demo account available to practise trading risk-free
