Dodl Stocks & Shares ISA review 

Dodl is a straightforward funding app created by AJ Bell

Dodl is an funding app with a Shares & Shares ISA. It presents ready-made portfolios, teams of themed investments and particular person shares and funds. This implies you can make investments passively or have a extra hands-on method if you wish to. 

Right here’s how the app works and the right way to get began with Dodl.

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Right here at Be Intelligent With Your Money, we’re not regulated to present you monetary recommendation. We intention to provide the info a couple of supplier or funding nevertheless it’s as much as you to determine if it’s appropriate for you. For those who’re on the lookout for extra personalised steerage, discover a monetary adviser who can provide you particular recommendation. Do not forget that your capital is in danger when investing — don’t make investments greater than you’re ready to lose. 

What’s the Dodl Shares & Shares ISA?

The Dodl Stocks & Shares ISA is a free account on its cell app. With it, you may make investments as much as £20,000 in every tax yr with out having to pay any tax in your earnings — this may be curiosity, dividends or capital positive aspects. 

You may make a transfer from another ISA provider right into a Dodl ISA. Doing this may hold your allowance intact because it’ll hold the transferred ISA throughout the ‘wrapper’, so it received’t rely as a brand new deposit into an ISA. 

You may switch it as money, or, if you have already got investments they usually’re out there to spend money on with Dodl, you may switch them in. If they’ll’t be transferred, then you may both promote them and switch the money or go away them be and switch the whole lot else.

If in case you have uninvested money within the ISA you may earn curiosity on it. As of 1 March 2025, the speed is 4.58% AER.

Different Dodl merchandise

It’s also possible to spend money on a Lifetime ISA or a Common Funding Account with Dodl. 

For those who’d desire to save lots of even long term, you too can open a Self-Invested Private Pension (SIPP) with Dodl, which has its personal tax-free allowances. 

What you may spend money on with Dodl

There are three completely different funding varieties out there with Dodl – particular person shares and funds, ready-made portfolios and thematic investments. 

Particular person shares and funds provide you with full management over your investments. You’d select the person corporations and funds that you just wish to spend money on, and also you’d be accountable for protecting monitor of and managing your personal portfolio to verify it fits you.

In the meantime, thematic investments are bundles of investments that match a particular theme — for instance, bundles of tech corporations and tech funds or a choice of women-owned corporations. These would permit you to create a portfolio of investments that fits you extra effortlessly, however would nonetheless require you to be extra hands-on along with your investments.

Or there are ready-made portfolios which have been created and managed long-term by consultants. You’d select one of many portfolios to spend money on, relying on one of many six danger profiles it presents. There’s additionally a accountable development possibility. You wouldn’t must verify in as typically as your portfolio supervisor will guarantee it continues to suit your chosen danger profile.

Listed here are the portfolios that Dodl presents — these are AJ Bell funds, in order that they’re created by Dodl’s mother or father firm, AJ Bell.

Dodl charges

Dodl’s charges are actually easy. There’s a platform charge of 0.15% of the worth of what you’ve bought invested, nevertheless, it has a minimal cost of £1 a month. 

Every ready-made portfolio has an ongoing cost — that is 0.31% for many portfolios and 0.45% for the accountable portfolio.

For those who select to purchase shares in foreign currency echange, you’ll pay a overseas change charge of 0.75% as much as £10,000, then 0.5% as much as £20,000 and 0.2% over this.

Dodl options for newbie buyers

Dodl’s an excellent platform for newcomers. It’s a extremely easy-to-use app with a number of steerage as you navigate by way of it. You may go for a ready-made possibility and even do a little bit of DIY investing on the aspect, if you wish to.

Plus, it’s bought a “Be taught” tab that’s bought a number of guides on the entire jargon you’ll come throughout and the right way to get began. There isn’t a demo account, so you’d go straight into investing for actual, however the low deposit quantity means you can begin actually small. 

Is Dodl protected?

Dodl’s mother or father firm AJ Bell is FCA-regulated within the UK. 

If you put cash into your account, your cash is ring-fenced, so it’s saved separate from Dodl and AJ Bell’s personal cash. What’s extra, it’s break up between a number of completely different banks, so AJ Bell isn’t placing all of your eggs in a single basket.

Uninvested money in your account is roofed by the Financial Services Compensation Scheme (FSCS), which protects as much as £85,000 — this may be claimed if Dodl had been to go bust. 

Investments in your account are additionally coated by FSCS — so if Dodl goes bust and also you lose cash in consequence, you’d be coated by as much as £85,000.

Find out how to open a Dodl Shares & Shares ISA

To open a Dodl Shares & Shares ISA, it is advisable to be 18 or over and have a legitimate type of ID. You’ll want to start out by downloading the Dodl app.

Then, you simply must click on “Signal Up” and fill within the type. You’ll be requested for some private data, together with your Nationwide Insurance coverage info. 

When you’ve opened an account, you select between the accounts out there — if you would like a Shares & Shares ISA, that is the place you select this. Then, you may get began by depositing £100 or establishing a direct debit of not less than £25 per 30 days. It’s also possible to select to switch over your ISA. 

Execs and cons of Dodl

Execs

• Free to have an ISA
• Low-cost investing
• Begin with as little as £25 per 30 days
• Affords ready-made portfolios
• Easy easy-to-use app

Cons

• Cell app solely
• No demo account

Is Dodl any good?

Zoe’s evaluation

Dodl’s fairly new to the funding app scene and it had a shaky begin with a fairly odd and infantile “monster” theme, regardless of being a reasonably first rate app. Now it’s reverted again to the AJ Bell colors, and it’s a extremely good possibility for newbie buyers. 

It presents the chance for these simply beginning out to be taught all about investing. You get the possibility to dip your toes into DIY choices however can even select a ready-made portfolio for passive investing, permitting you to develop your cash over the long run, with little or no effort. 

The Shares & Shares ISA doesn’t value you any extra, and if you have already got ISAs elsewhere, you may switch it over, investments and all.