logo
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Contact us
logo
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Contact us

X-O: No international stocks and a dated platform, but no annual fees makes it cheap for UK stocks

Insiders score

infoMore info
This is the score our team have awarded the platform based on our own personal experiences and other important factors, such as fees and ease of use.

3.0out of 5

X-O is a trading name for Jarvis Investment Management which has been providing execution-only trading services for over 30 years. Customers can invest in UK assets through an ISA, Junior ISA, SIPP, or general investment account.

pointNo annual fees
pointCapital at risk
Visit Platform

Capital at risk

Author Avatar

By Clare West

check Fact Checked

3.0out of 5

point No annual fees
point Capital at risk

Clare's view

The Verdict

X-O is an execution-only share dealing platform. That means it's only suitable for those who are comfortable making their own decisions on what to invest in, and how to manage those investments as there are no ready-made portfolios and no advice team.

It offers access to a general share dealing account, an Sometimes called an investment ISA, a stocks and shares ISA is an individual savings account that allows you to invest in shares, unit trusts, investment funds, and bonds. You will not need to pay tax on any income or capital gains earned on investments within an ISAstocks and shares ISAinfo, and A junior self-invested personal pension (SIPP) is a way of investing money for your child’s future retirement, free from capital gains and dividend tax. As it is designed to be started before a child turns 18, it must be opened by a parent or guardian although anyone can contribute. Once the beneficiary turns 18, they take control of the account, however, the money within the account cannot usually be accessed until age 55 (rising to 57 in 2028 and likely to rise further)Junior ISAinfo. Despite the website still showing they offer a A self-invested personal pension (SIPP) is a type of private pension that allows you to control the specific investments that make up your pension fundself-invested personal pensioninfo, it is now closed to new applications.

There's no denying that with zero account fees on all ISAs, Junior ISAs and general investment accounts, this is a cheap place to be a buy-and-hold investor. If you plan to trade on a regular basis, however, that £5.95 per trade (which applies no matter what you're trading), could end up meaning the platform is more costly than a commission-free provider.

The main downside of using X-O is that there are no international shares and no mutual funds, only UK stocks, gilts, bonds, Exchange traded funds (ETFs) are traded in much the same way as stocks. Instead of an individual stock, however, you own a basket of different assets which track the performance of a particular index or market. exchange-traded fundsinfo and investment trusts. That's very limiting.

There are also a few sneaky charges to watch out for, such as the £15 + VAT fee per stock to transfer out, and £50 + VAT to close your ISA or Junior ISA.

If your plan is to buy and hold UK stocks or ETFs, however, and you're not bothered by the lack of a mobile app and a trading platform that feels very dated, then it's a reasonable option. For complete beginners, however, this platform wouldn't feature on my shortlist.

arrow-down-orangeRead More
quote

Pros

  • No annual account fees on ISA, JISA and general share dealing account
  • One simple trading fee of £5.95 per trade
  • Cheap platform for those who don't trade regularly
  • Demo trading available ('Fantasy Portfolio')
quote

Cons

  • Only UK stocks - No stocks from US exchanges or rest of the world
  • £50 fee for closing ISAs and Junior ISAs
  • £15 per stock to transfer out
  • No longer offering a SIPP
  • Dated feel to the platform
  • Inactive accounts may be closed without notice after 12 months - and a fee charged for closing
  • Verdict3.0
  • Fees3.0
  • Trading Platform2.0
  • Research2.5
  • Safety4.5
  • Education0.0
  • Customer Service4.0
  • Corporate Actions3.0

Clare's view

Who do I recommend it for?

arrow-down-orangeRead More
quote

Pros

  • No annual account fees on ISA, JISA and general share dealing account
  • One simple trading fee of £5.95 per trade
  • Cheap platform for those who don't trade regularly
  • Demo trading available ('Fantasy Portfolio')
quote

Cons

  • Only UK stocks - No stocks from US exchanges or rest of the world
  • £50 fee for closing ISAs and Junior ISAs
  • £15 per stock to transfer out
  • No longer offering a SIPP
  • Dated feel to the platform
  • Inactive accounts may be closed without notice after 12 months - and a fee charged for closing
  • arrowVerdict
    3.0
  • arrow Fees:
    3.0
  • arrowTrading Platform:
    2.0
  • arrowResearch:
    2.5
  • arrowSafety:
    4.5
  • arrowEducation:
    0.0
  • arrowCustomer Service:
    4.0
  • arrowCorporate Actions
    3.0

update-icon

Updates

Who do I recommend X-O for?


Buy-and-hold (“set-and-forget”) investors who do not plan to trade often, but, crucially, only want to invest in UK stocks, bonds, gilts, Exchange traded funds (ETFs) are traded in much the same way as stocks. Instead of an individual stock, however, you own a basket of different assets which track the performance of a particular index or market. exchange-traded fundsinfo and investment trusts.

You'll need to be a confident investor as there are no ready-built portfolios to select, and no in-house advice service.

You'll also need to be fine with no mobile app and a platform that isn't as sophisticated as others.

Accounts and assets


Accounts

X-O offers customers the chance to invest through:

  • A General investment account (GIA) is an account designed to provide access to investments. You may be liable for tax on any income or capital gains earned within a general investment account but this can be a useful vehicle for anyone who has maxed out their ISA allowancegeneral investment accountinfo
  • A Sometimes called an investment ISA, a stocks and shares ISA is an individual savings account that allows you to invest in shares, unit trusts, investment funds, and bonds. You will not need to pay tax on any income or capital gains earned on investments within an ISAstocks and shares ISAinfo
  • A Junior ISAs (Individual Savings Accounts) (JISAs) are tax-free savings accounts for children under the age of 18. Only a parent can open a JISA but anyone can contribute. You can choose to save for your children through either a cash Junior ISA where you will earn interest on any cash in the account, or a stocks and shares Junior ISA where you will invest your child’s savings on their behalfJunior ISAinfo

X-O used to offer a SIPP but it's now closed to new applicants. (Confusingly, it's still showing on the website.)

The stocks and shares ISA is not a flexible ISA, meaning any cash you decide to withdraw from your ISA still counts towards your annual allowance. Should you wish to pay that cash back into your ISA, it will effectively be counted twice.

Assets

X-O offers the following choice of assets:

  • UK stocks
  • Bonds
  • Gilts
  • Exchange traded funds (ETFs) are traded in much the same way as stocks. Instead of an individual stock, however, you own a basket of different assets which track the performance of a particular index or market. exchange-traded fundsinfo
  • Investment trusts

There are no international stocks and no ready-made portfolios. That means you need to be happy choosing and managing your own portfolio, and either not want to hold international stocks or use a separate platform for those.

Fee comparisons


FAQs

Yes, X-O is safe. It has been in business for 30+ years, is authorised and regulated by the Financial Conduct Authority (FCA), and is also a member of the London Stock Exchange. Eligible customer funds are protected up to £85,000 through the FSCS.

X-O is cheap if you don't want to trade often thanks to the lack of any annual fees. If you plan on trading regularly, however, you could find costs add up at £5.95 per trade. Watch out for the account closure fees too which are significant.

Ask the Insiders


Have a question about X-O that we haven't covered? Ask it here and we will get back to you as soon as possible!

compare-icon
Platform's selected