Moneybox vs Lightyear

Lightyear and Moneybox differ significantly in their pricing structures.

• Moneybox charges a 0.45% annual platform fee on your portfolio value, plus a £1 monthly subscription fee. The platform fee accrues daily and is charged monthly by selling a portion of your largest holding. Trades in US shares are commission-free but incur a 0.45% FX fee for currency conversion.
• Lightyear charges no platform fees or subscription fees. ETF trades are free with zero execution fees, while US stock trades cost 0.1% up to a maximum of $1 per order. UK and EU stock trades are charged at £1/€1 per order, with an FX fee of 0.35%.

For investors looking to minimise fees, Lightyear offers a simpler and more transparent cost structure. For larger portfolios, percentage-based platform fees like those charged by Moneybox can add up quickly. Additionally, Lightyear supports multi-currency accounts, allowing you to hold and trade in different currencies without unnecessary conversions, further reducing costs.

No, the Moneybox Stocks & Shares ISA is not flexible. If you withdraw funds during the tax year, you cannot replace them without affecting your annual ISA allowance. For those who prioritize flexibility, a platform offering a flexible ISA might be a better fit. Additionally, Moneybox does not offer a Cash ISA directly within its app, focusing instead on investment-based ISAs.

Lightyear does not currently offer a Stocks & Shares ISA or a Cash ISA. We’ll be launching our ISA before the end of this tax year (by the end of March 2025).

Yes, you can transfer stocks from Moneybox to Lightyear. Lightyear accepts transfers of whole shares, provided each position is worth at least £/$/€1,000. Only regular, exercised stocks can be transferred; Lightyear does not accept non-qualified stock options (NSOs).

To start a transfer, read our guide to stock transfers.