Last updated: 7 June 2026

By Stiv · Design, technology and personal finance

This is an independent opinion piece based on my own testing of the Lightyear app and current market research. Views expressed are my own and do not constitute professional or financial advice.

Cool Factor: 4/5 (Stone cold)

In this independent Lightyear review UK, I take a proper look at one of the most talked-about investing apps in Britain right now. Lightyear has spent the past year cutting costs hard, so UK personal accounts now get free share and ETF dealing and a flat 0.1% FX fee. As a result, it sits firmly among the cheapest platforms available to UK investors today.

Capital at risk. The value of investments can go down as well as up and you may get back less than you invested. Past performance is not a reliable indicator of future results.

Throughout this Lightyear review UK, I cover what Lightyear is, what you can invest in, fees, ISAs, Vaults, pros and cons, and how it compares to Freetrade, Trading 212, AJ Bell Dodl, Moneybox and Finimize. So, if you want a no-nonsense view before opening an account, read on. If you only want the sign-up offer and terms, head to our Lightyear referral page instead.

What is Lightyear?

Lightyear is a UK investing app that launched in 2021 with a simple aim. In short, it wants to make investing cheaper, clearer and more global for everyday investors. The team grew out of fintech, with people who previously helped build Wise, and the platform later attracted backing from Richard Branson, as reported by CNBC in 2022. It has since appeared in the FT, TechCrunch and Sifted.

Fast forward to 2026, and Lightyear gives UK investors access to UK, US and European markets from one app. Importantly, you can invest through a Stocks and Shares ISA, a Cash ISA or a General Investment Account, with no platform fee. As the company puts it, "for too long, UK investors have got the short end of the stick", with "sky-high fees on one side" and "illusive promises of free trading on the other". That positioning already sets this Lightyear review UK apart from many rivals.

Lightyear key features at a glance

Here is what you get if you open a Lightyear account today. As always, rates are variable and your capital is at risk.

• Flexible Stocks and Shares ISA, Cash ISA and General Investment Account
• Over 6,000 stocks across UK, US and EU markets, plus ETFs and money market funds
• No commission or execution fees on shares and ETFs (UK personal accounts)
• No account, platform or custody fee
• A flat 0.1% FX fee at the live interbank rate when you convert currency
• Multi-currency accounts in GBP, USD and EUR, plus fractional shares
• Cash ISA paying 3.75% AER (variable), tracking the Bank of England base rate
• Vaults (money market funds) paying around 3.74% AER (variable), managed by BlackRock
• Around 1% interest on uninvested GBP cash, paid monthly
• Ready-made Plans, custom Plans and the newer Lightyear AI market-data tools

What changed in 2026?

The big story is pricing. Over the past year Lightyear scrapped execution fees on shares for UK personal accounts and dropped its FX fee to 0.1%. On top of that, it added Ready-made Plans, custom Plans and Lightyear AI, and it started paying interest on uninvested cash. Consequently, the app now reads very differently from the version many people first tried.

Lightyear fees explained

This is where the 2026 story gets interesting. Lightyear has no platform fee, and for UK personal accounts it now charges nothing to buy or sell shares and ETFs. In other words, execution is free on US, UK and EU shares, with no custody or account charges either. You can confirm the current numbers on the Lightyear UK pricing page.

So how does Lightyear make money? Mainly through currency conversion and interest. First, there is a flat 0.1% FX fee whenever you convert money between currencies, charged at the live interbank rate. Second, Lightyear keeps a small slice of the interest on cash held in its money market funds. On top of Lightyear's own charges, normal government taxes still apply too, such as UK stamp duty of 0.5% on most UK share purchases. Because of this, the headline "free" still comes with a few honest caveats, which is exactly how transparent pricing should work.

Lightyear fees (UK personal accounts, correct as of 7 June 2026)

Activity	Fee
Buying or selling US, UK and EU shares	Free
ETFs	Free (fund manager fees still apply)
Account, platform and custody fees	Free
FX (currency conversion)	0.1% at the live interbank rate
Multi-currency accounts	Free
Bank transfers in and out	Free
Card, Apple Pay or Google Pay deposits	0.60% (bank transfers are free)
Money market funds (Vaults), annual fee	0.20% on GBP and EUR, 0.25% on USD

For a wider cost comparison, I have lined Lightyear up against other apps in our guide to the cheapest investment apps in the UK by FX fees. On price alone, Lightyear is now one of the most competitive options on the market, which Lightyear says earned it a mention as one of the cheapest Stocks and Shares ISAs on The Martin Lewis Money Show on ITV.

Lightyear ISAs, Vaults and interest

Lightyear gives you three core accounts. Naturally, the ISAs are the part most UK investors care about, so let us start there.

Lightyear Cash ISA

The Cash ISA currently pays 3.75% AER (variable) and tracks the Bank of England base rate, which itself sits at 3.75% and has been held there since December 2025, according to the Bank of England. Helpfully, Lightyear avoids the usual tricks here. As the company says on its Cash ISA page, there are "no surprises or asterisks attached", which means no short-term bonus rate, no withdrawal penalties and no minimum deposit.

Because the rate follows the base rate, it can move up or down. Therefore, treat 3.75% as today's figure rather than a fixed promise. You can compare it with other options in our roundup of the best investment ISAs for 2026.

Stocks and Shares ISA, GIA and Vaults

The Stocks and Shares ISA and General Investment Account both let you hold cash in Vaults, which are money market funds managed by BlackRock and rated AAA. As of today, GBP Vaults pay around 3.74% AER (variable), after the 0.20% fund fee. These funds are considered low risk, yet they are still investments, so your capital is at risk and the rate can change daily. Lightyear also now pays roughly 1% on uninvested GBP cash, which is a welcome change from the old zero-interest policy.

Tax treatment depends on the individual circumstances of each client and may be subject to change in future. As a result, an ISA wrapper will not suit everyone, so it is worth checking your own allowance first. Since April 2024, you can also pay into more than one Stocks and Shares ISA in the same tax year, which means Lightyear can sit alongside an existing provider.

What can you invest in with Lightyear?

Lightyear gives you access to over 6,000 stocks, including familiar names like Apple, NVIDIA, AstraZeneca, Shell and Airbus. On top of shares, you can buy ETFs from major managers such as Vanguard, iShares and Invesco, plus money market funds through Vaults. Fractional shares also let you invest without needing the full share price upfront.

For hands-off investors, Lightyear has added Ready-made Plans, which are three risk-based portfolios using BlackRock and Vanguard funds, alongside custom Plans that automate and group your investing. Meanwhile, the newer Lightyear AI feature pulls together market data, analyst projections and earnings summaries to help you research. One thing to note for UK users: Lightyear does not offer crypto, options or CFDs in the UK app, so this Lightyear review UK covers ordinary listed shares, ETFs and money market funds only.

Does Lightyear pay interest on uninvested cash?

Yes, although not at the top rate. As of 2026, Lightyear pays around 1% on uninvested GBP cash, calculated daily and paid monthly. However, if you want more, you need to move money into Vaults or use the Cash ISA, which both pay considerably more. So, treat the 1% as a small bonus on idle cash rather than the main event.

Lightyear vs Freetrade, Trading 212, AJ Bell Dodl and Moneybox

Lightyear is rarely considered in isolation, so here is how it stacks up against the apps it is most often compared with. As ever, the right pick depends on what you actually need.

Lightyear vs Freetrade

Both target self-directed investors and avoid traditional platform fees. However, Lightyear now wins on cost for many people, with free share dealing and a 0.1% FX fee versus Freetrade's higher FX charge on its entry plan. On the other hand, Freetrade still offers a personal pension and a Junior ISA, which Lightyear does not. So, Freetrade often suits long-term pension savers, while Lightyear suits investors who trade internationally or hold cash strategically. If you want the Freetrade route, you can sign up through our Freetrade referral. Free-share offers there are randomly selected from a pool, most awards are small, and qualifying conditions apply.

Lightyear vs Trading 212

Trading 212 is the other big low-cost name, and it offers Pies and a wider instrument range. That said, Lightyear undercuts it slightly on FX, at 0.1% versus 0.15%, and many people prefer Lightyear's cleaner, calmer interface. Trading 212 may appeal if you want automated Pies, whereas Lightyear feels more focused. You can read our full Trading 212 review for the detail.

Lightyear vs AJ Bell Dodl and Moneybox

AJ Bell Dodl is a simplified version of a traditional broker and charges a percentage platform fee, which Lightyear does not. Moneybox, meanwhile, is built for beginners and passive savers, with LISAs and pensions that Lightyear lacks. Consequently, Dodl and Moneybox win on hand-holding and product range, while Lightyear wins on cost and control.

Where Monzo, Robinhood and Finimize fit

A few other names come up often. Monzo Investments bakes investing into everyday banking but offers less control, as we cover in our Monzo Investments review. Robinhood UK leans into US-style trading, which you can explore via our Robinhood guide. Finally, Finimize is not an investing platform at all; rather, it offers market education that pairs well with Lightyear. If you find it useful, there is a Finimize referral too.

Honest critical observations

No app is perfect, and a fair Lightyear review UK has to name the gaps. So, here is where Lightyear falls short for some investors.

First, the product range has real holes. There is no personal pension (SIPP), no Lifetime ISA and no Junior ISA, so families and retirement-focused investors may need a second provider. Second, while UK share dealing is free, currency conversion still costs 0.1%, and uninvested cash earns only around 1%, well below the Vault and ISA rates. Third, advanced traders may find the charting and order tools fairly basic.

There are service niggles too. A minority of Trustpilot reviewers mention occasional technical issues and slow withdrawals, even though the overall score is strong. Finally, protection has nuance: Lightyear states that FSCS cover applies to client money held with banks, but not to money held in qualifying money market funds. In practice, that is normal for this type of product, yet it is worth understanding before you treat Vaults like a savings account.

Is Lightyear safe? FCA and FSCS

On regulation, Lightyear is on solid ground. In the UK, the service is provided by Lightyear UK Ltd, which is authorised and regulated by the Financial Conduct Authority (FRN 987226). For transparency, CoolCuration itself is not FCA authorised and does not give personalised financial advice.

Eligible investments are protected up to £85,000 per person per FCA-authorised firm by the FSCS. Lightyear holds customer cash with UK banks, such as NatWest, alongside AAA-rated qualifying money market funds, and keeps client assets separate from its own. Eligible cash deposits held with banks can be protected up to £120,000 per eligible person per UK-authorised bank since 1 December 2025. However, FSCS protection applies to client money held with banks, not to money held in money market funds. So, as with all investing, your capital is at risk.

Lightyear customer reviews

Customer sentiment is genuinely positive. Lightyear scores around 4.7 out of 5 from more than 2,200 reviews on Trustpilot (as of early 2026), with roughly 81% of reviewers giving five stars. Positive reviews tend to highlight the clean app, transparent fees and multi-currency support. Negative reviews, meanwhile, focus on occasional technical issues and withdrawal delays for a small number of users. Independent reviewers are broadly warm too, as you can see in the Good Money Guide review.

Value for money: is Lightyear worth it?

Capital at risk. The value of investments can go down as well as up and you may get back less than you invested.

For cost-conscious investors, Lightyear is hard to beat in 2026. You get free share and ETF dealing, no platform fee and a 0.1% FX fee, which is why it now reads as one of the cheapest ways to run a Stocks and Shares ISA. For context, Hargreaves Lansdown charges £6.95 a trade and up to 0.99% on FX, while even Trading 212 charges 0.15% FX. For most buy-and-hold investors, that pricing matters far more than flashy features.

That said, value is not only about price. If you need a SIPP, a LISA or a Junior ISA, a slightly pricier all-rounder could save you the hassle of juggling two apps. In my experience, the honest answer is that Lightyear is excellent value for what it does, provided its product range fits your goals.

See the latest Lightyear offer and terms

How to open a Lightyear account

Opening an account is straightforward, and it usually takes minutes. First, download the Lightyear app or visit the website. Then create your login details and verify your email and phone number. Next, complete your personal details so Lightyear can run its checks. Finally, wait for verification, which is normally quick and rarely takes more than a couple of days. For the current sign-up offer and full terms, use our dedicated referral page below.

Get the Lightyear referral link

The verdict

So, where does this Lightyear review UK land? For me, Lightyear is one of the strongest low-cost investing apps in Britain right now. The free share dealing, clean design and transparent pricing make it an easy pick for cost-focused ISA and GIA investors. It is not flawless, mainly because of the missing pension and junior products, but it does its core job very well. On that basis, I am scoring it a 4 out of 5.

Overall, a solid 4/5 Stone cold. Lightyear impressed me with free share dealing, a transparent 0.1% FX fee and a tidy 3.75% Cash ISA, but it did not quite reach Ice cold because the lack of a pension, Lifetime ISA and Junior ISA still sends some investors elsewhere. If those gaps do not affect you, it is one of the most cost-effective investing apps you can pick in 2026.

Frequently asked questions

Is Lightyear worth it in 2026?

For cost-focused investors, yes. Because UK share dealing is free and the FX fee is just 0.1%, Lightyear is one of the cheapest ways to run a Stocks and Shares ISA or GIA. However, it is less suited to anyone who needs a pension or a Lifetime ISA.

How much does Lightyear cost?

For UK personal accounts, there is no platform, account, custody or execution fee on shares and ETFs. The main cost is a 0.1% FX fee when you convert currency, plus a small share of interest on cash held in Vaults. Card deposits cost 0.60%, while bank transfers are free.

Is Lightyear safe and FCA regulated?

Yes. Lightyear UK Ltd is authorised and regulated by the FCA (FRN 987226). Eligible investments are protected up to £85,000 per person per FCA-authorised firm by the FSCS, although FSCS cover applies to client money held with banks, not to money held in money market funds.

What interest does the Lightyear Cash ISA pay?

The Cash ISA currently pays 3.75% AER (variable) and tracks the Bank of England base rate. As a result, the rate can rise or fall, with no bonus-rate gimmicks and no withdrawal penalties.

How does Lightyear compare to Trading 212 and Freetrade?

All three are low-cost. Lightyear edges Trading 212 on FX (0.1% versus 0.15%) and beats Freetrade's entry-plan FX, while Freetrade still offers a pension and Junior ISA. So, the best choice depends on whether you value the lowest fees or a wider product range.

More from CoolCuration

• How to start investing in the UK: a plain-English guide for first-time investors.
• Best savings accounts UK: see how Lightyear's Cash ISA compares with top easy-access rates.
• Trading 212 referral code: weighing up the main Lightyear alternative.
• Stock Events app: track your whole portfolio in one place.
• Chip app: automate your savings alongside investing.

Disclaimer: This is an opinion piece and is for information only. It does not constitute financial advice or a personal recommendation. Rates, fees and terms can change, so always check the provider's current terms and consider speaking to a qualified financial adviser before investing. Capital at risk. The value of investments can go down as well as up and you may get back less than you invested. Past performance is not a reliable indicator of future results. CoolCuration is not authorised by the Financial Conduct Authority. This article contains affiliate or referral links. If you click through and sign up I may earn a commission or referral bonus at no extra cost to you. It does not affect my editorial view.