Monzo Investments referral link (UK): paused, here are the best alternatives

Last updated: 9 June 2026

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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.

Status: is the Monzo Investments referral offer still live?

At the time of writing, it looks like Monzo has paused the Monzo Investments referral incentive. The scheme launched in September 2025 and has no official end date, but Monzo's terms make clear that not every invite comes with a reward. So rather than send you on a wild goose chase, here are the closest alternatives that are worth doing right now.

For context, when the Monzo Investments referral is active, it has offered a random bonus of £5, £10 or £20 to both the referrer and the new investor. If it switches back on, we will update this page. In the meantime, here is where to look instead.

Best alternative if you want managed funds like Monzo

JPMorgan Personal Investing: managed funds, new-customer offer

If your goal was hands-off investing like Monzo, where you choose a risk level and let a team manage the rest, JPMorgan Personal Investing is the nearest match. It is the same platform that used to be called Nutmeg, now backed by J.P. Morgan. It covers Stocks and Shares ISAs, Lifetime ISAs, Junior ISAs, Personal Pensions and general investment accounts.

J.P. Morgan regularly runs a new-customer offer (recent deals have included fee-free periods and travel-reward bonuses). Because the terms and eligibility change, check the live offer on our referral page before you sign up. To qualify you typically sign up through a referral link and invest at least £500 in net new money within 30 days of your first investment, and not into a cash-only pot.

Standard management fees apply once any promotional period ends, and fund costs and market spread costs apply throughout, so an offer lowers your costs rather than removing them entirely. Tax treatment depends on the individual circumstances of each client and may be subject to change in future.

J.P. Morgan Personal Investing Limited is authorised and regulated by the Financial Conduct Authority (FRN 552016), and eligible investments are protected up to £85,000 per person per FCA-authorised firm by the FSCS.

See the JPMorgan Personal Investing offer

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. Free shares and sign-up bonuses are usually randomly selected, with most at the lower end of the stated range, and qualifying conditions apply.

Best alternatives if you want self-managed investing

Lightyear: free share, most £10 to £20

For DIY investing, Lightyear is a straightforward, modern platform, and its referral bonus is consistently available. Deposit at least £100 and you receive a randomly selected free fractional share worth between £10 and £100 (most people land in the £10 to £20 range). Commission-free stock and ETF trading with a 0.10% FX fee on UK accounts makes it a strong platform in its own right. Lightyear U.K. Ltd is authorised and regulated by the Financial Conduct Authority (FRN 987226).

See the Lightyear offer

Freetrade: free share worth £10 to £100

Freetrade is a solid UK-first DIY investing platform. Sign up via a referral link, deposit at least £50, and you receive a randomly selected free share worth between £10 and £100, with most at the lower end of that range. It offers commission-free trading on UK and US stocks, and the ISA and SIPP are now included on every plan. Freetrade Limited is authorised and regulated by the Financial Conduct Authority (FRN 783189).

See the Freetrade free share offer

Robinhood UK: free stock (random, usually small)

Robinhood launched in the UK in 2024 and offers commission-free trading on US and UK shares. New users get a randomly selected free share when they sign up through a referral link and fund their account. The value is random and most people receive a low-value share (around £5 to £6), so treat it as a small perk rather than a guaranteed windfall. Note the free-share offer applies to the standard brokerage account, not the ISA, and brokerage assets are held in US custody rather than under standard UK FSCS investment protection. Robinhood U.K. Ltd is authorised and regulated by the Financial Conduct Authority (FRN 823590).

See the Robinhood UK offer

Trading 212: free share up to £100 (not always live)

Availability note: Trading 212's free share referral runs in campaigns and is not always active. It can pause without warning and return later with different terms, so always check whether the offer is currently live before signing up on this basis.

When it is live, Trading 212's referral gives you a randomly selected free share worth up to £100 (most are at the lower end) when you sign up and deposit at least £1. It is a strong DIY platform for buying shares and ETFs with zero commission. Trading 212 UK Limited is authorised and regulated by the Financial Conduct Authority (FRN 609146).

Check the Trading 212 offer

Want the bigger picture first?

If you are still deciding which platform fits you best, whether managed or DIY, and want to compare fees, ISA options and sign-up bonuses side by side, start here: best investment referral deals in the UK (2026).

Still want Monzo? Do the bank offer instead

Even if the investing bonus is paused, Monzo's main current-account referral can still be worth doing, especially if you wanted Monzo anyway. New customers get a random amount between £5 and £50 (most receive around £10) after making their first card payment within the qualifying period. Monzo Bank Limited is authorised and regulated by the Financial Conduct Authority (FRN 730427); eligible deposits are protected up to £120,000 per eligible person by the FSCS.

See the Monzo bank sign-up offer

And if you want our full take on Monzo's investment feature, including fees and fund breakdown, read the Monzo Investments review.

FAQs

Can Monzo turn the investing referral back on?

Yes. The official referral terms (launched September 2025) have no end date. Monzo can change the reward, pause it, or switch it off entirely at any time, sometimes without notice. We will update this page when it returns.

What is the closest replacement for Monzo Investments?

For fully managed funds, the nearest match is JPMorgan Personal Investing. For DIY investing where you pick your own shares, Lightyear has a live offer. Both are FCA-regulated, so always check the current offer terms before signing up.

Does the Trading 212 referral offer get paused?

Yes, regularly. Trading 212's free share referral is campaign-based and not always live. It can pause and return at any time, sometimes with different terms or share values. Always check whether the offer is currently active before signing up.

How much is the Robinhood UK free stock actually worth?

Most recipients get a low-value share, typically around £5 to £6. Higher values are possible but rare, so treat it as a small perk rather than a guaranteed windfall. You qualify by signing up through a referral link and funding the standard brokerage account (the ISA is not eligible).

Is this financial advice?

No. This content is for information only and is not financial advice. Investing involves risk and you may get back less than you invest. Promotions can change or end at any time, so always read the provider's terms before signing up. Eligible investments are protected up to £85,000 per person per FCA-authorised firm by the FSCS.

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This page contains affiliate or referral links that may earn CoolCuration a commission or referral bonus at no extra cost to you. It does not affect our editorial view. This is not financial advice. 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. Tax treatment depends on the individual circumstances of each client and may be subject to change in future. Promotions, fees, product details and terms can change at any time, so always check the latest with the provider before signing up. If you are unsure whether an investment is right for you, consider speaking to a qualified financial adviser. CoolCuration is not authorised by the Financial Conduct Authority and does not offer personalised financial guidance.

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