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Lightyear Review | 2026
Overview, highlights & more!
What you will find in this review:
Overview of Lightyear
Lightyear is a European investment platform founded by two early members of the TransferWise (now Wise) team. Its stated mission is to build a low-fee, transparent investment platform for everyone in Europe.
In the UK, the service is provided by Lightyear UK Ltd, which is authorised and regulated by the Financial Conduct Authority (FRN 987226). Eligible UK customers are covered by the Financial Services Compensation Scheme (FSCS), which can pay up to £85,000 per person if Lightyear failed and assets were missing. It does not protect you against investments falling in value.
Lightyear says it has launched in 25 countries and looks after over $1 billion of customer assets. UK customers can choose from more than 6,000 stocks listed in the US, UK and Europe, as well as ETFs, UK gilts and money market funds.
Idle cash can be moved into Lightyear Vaults, which invest in BlackRock money market funds in pounds, euros or dollars. The pound Vault pays a variable rate benchmarked to the Bank of England's overnight rate, but Vaults are an investment rather than a savings account, so your capital is at risk.
The information provided on this page and throughout the website is for general information purposes only and does not constitute financial advice. It is important that you conduct your own research and consider your own personal circumstances before making any investment decisions.
Trading costs are low. Personal accounts pay no commission on US, UK or EU shares, ETFs or UK gilts, and the main charge most investors will pay is a 0.1% fee when converting currency.
We checked every fee and feature in this review against Lightyear's own UK pricing, product and help pages on 1 October 2026.
What you will find in this review:
Platform Highlights
| 🗺️ Supported Countries | UK and Europe (25 countries) |
| 📊 Account fee | None (personal accounts) |
| 💲 FX Fee | 0.1% at the live interbank rate (personal accounts) |
| ⏳ Inactivity fee | None |
| 🏧 Withdrawal fee | Free by bank transfer |
| 💵 Minimum Deposit | No minimum deposit |
| 💡 Accounts | Stocks and Shares ISA, Cash ISA, GIA, Business account |
| 🎮 Demo Account | None listed |
| 📜 Regulatory entities | FCA (Lightyear UK Ltd, FRN 987226) |
Lightyear's strongest appeal is low, simple pricing. Personal accounts have no account, custody or commission fees, and bank transfers in and out are free.
The main cost to watch is the 0.1% currency conversion fee, applied at the live interbank rate when you swap pounds for dollars or euros. Card deposits cost 0.6%, so a bank transfer is the cheaper way to fund your account.
UK customers can open a Stocks and Shares ISA, Cash ISA, General Investment Account or Business account. Lightyear does not list a demo account, so you will be investing real money from the start.
Lightyear Offering for UK investors
Lightyear has become a credible alternative to traditional UK platforms, particularly for long-term investors who want low costs and access to US, UK and European markets. Below is a breakdown of the accounts and services available to UK customers.
General Investment Account (GIA)
The General Investment Account (GIA) is Lightyear's standard taxable account. It is the only personal account where you can hold balances in pounds, dollars and euros, so you can keep foreign currency after a sale or dividend instead of converting it back each time.
There are no account fees or share dealing commissions, and spare cash can earn interest or be moved into Vaults. The GIA suits investors who have already used their ISA allowance or who want to manage foreign currency themselves.
Stocks and Shares ISA and Cash ISA
Lightyear's Stocks and Shares ISA lets you invest up to £20,000 a year (across all your ISAs) with no UK tax on gains, dividends or interest. It is a flexible ISA, so you can withdraw money and put it back within the same tax year without using up more of your allowance. Inside the ISA you can hold US, UK and EU shares, ETFs, UK gilts and money market funds.
The ISA uses the same low-cost pricing as the GIA:
🟢 No account fee
🟢 No commission on shares, ETFs or gilts
🟢 0.1% fee if you convert currency
Lightyear also offers a Cash ISA with a variable rate that follows the Bank of England base rate (3.75% AER when we checked). Lightyear holds this money in a mix of UK banks and qualifying money market funds, and FSCS deposit protection only applies to the part held with UK banks. You can transfer an existing ISA to Lightyear for free, although your current provider may charge an exit fee.
Business Account
Lightyear's Business account lets companies invest spare cash in shares, ETFs, gilts and money market funds, with balances in pounds, dollars and euros.
Business pricing is different from personal pricing. ETFs are commission-free, but shares cost £1 per UK order, €1 per EU order and 0.1% per US order (minimum $0.10, maximum $1), gilts cost £1 per order and currency conversion is 0.35%. Businesses also need a Legal Entity Identifier (LEI), which Lightyear charges £42.50 plus VAT a year for.
Whichever account you choose, think about your goals, how long you plan to invest for and how much risk you can accept. For most UK investors, using the tax-free ISA allowance first is a sensible starting point.
What You Can Invest In
Depending on the account, UK customers can invest in:
US stocks
Shares listed on the NYSE and Nasdaq
European stocks
Shares from Germany, France, the Netherlands, Belgium, Spain and other European markets
UK stocks
Shares listed on the London Stock Exchange
ETFs and money market funds
ETFs from managers including Vanguard, iShares and Amundi, plus money market funds
UK gilts
UK government bonds, commission-free in personal accounts
In total, Lightyear lists more than 6,000 stocks. Many shares and ETFs can be bought in fractions, although not all of them, which lets you invest smaller amounts in high-priced shares. You can also group investments into a Plan with your own weightings and invest automatically every week, fortnight or month, or pick one of Lightyear’s Ready-made Plans.
Advantages
Low, Simple Pricing
Personal accounts have no account or custody fees and no commission on US, UK or EU shares, ETFs or gilts. Currency conversion costs 0.1% at the live interbank rate.
Multi-Currency GIA
In the General Investment Account you can hold pounds, dollars and euros, so you only convert when you choose to. Multi-currency balances are not available in the ISA.
Vaults and Cash ISA
Vaults offer easy access to money market fund rates with no minimum, and the Cash ISA follows the Bank of England base rate. Vault rates are shown after a fee of 0.15% or less, and Vaults are an investment, so your capital is at risk.
User Experience and Interface
Lightyear's mobile and web apps are clean and easy to navigate, which makes them approachable for beginners. Lightyear AI adds short news summaries explaining why a share you own or watch has moved.
Automatic Investing with Plans
Plans let you build your own mix of shares and ETFs with custom weightings and invest automatically every week, fortnight or month. Ready-made Plans are available if you would rather not pick investments yourself.
Start your investing journey with Lightyear today!
Disadvantages
Narrower Account Range
Lightyear's UK account range does not include a pension (SIPP) or a Junior ISA, and there are no options, CFDs or crypto for UK customers. If you want a pension alongside your ISA, you will need a second provider.
Fractional Shares Have Limits
Not every investment can be bought in fractions, and fractional shares cannot be transferred to another provider, so you would have to sell them on Lightyear first. Voting rights on fractional holdings are not always offered.
No Demo or Practice Account
Lightyear does not list a demo account or paper trading mode, so beginners will be investing real money from day one. Starting with small amounts is a sensible way to learn the app.
Extra Costs for Card Deposits and Businesses
Topping up by debit card, Apple Pay or Google Pay costs 0.6%, and receiving a USD wire costs up to $8.50. Business accounts pay per-order commissions on shares and a higher 0.35% currency fee.
Fee Structure at a Glance
Lightyear’s personal pricing is simple. Its UK pricing page lists two charges for personal accounts: currency conversion, and a fee that is already taken off the Vault rates it shows. Here is what that means in practice.
No Account or Custody Fees
Personal accounts (GIA, Stocks and Shares ISA and Cash ISA) have no account fee and no custody fee, and bank transfers in and out are free. A few other charges can apply:
- Card deposits (debit card, Apple Pay or Google Pay): 0.6%
- Receiving a USD wire payment: up to $8.50 per payment
ETFs carry no Lightyear dealing or custody fee, but the fund manager’s own ongoing charges still apply.
Share, ETF and Gilt Dealing Fees
- Personal accounts: no commission on US, UK or EU shares, ETFs or UK gilts.
- Business accounts: 0.1% per US order (minimum $0.10, maximum $1), £1 per UK order, €1 per EU order and £1 per gilt order. ETFs are commission-free.
For UK-listed shares, Lightyear executes orders itself by requesting prices from a panel of retail market makers. Orders for US and European shares are passed to its sister company, Lightyear Europe AS, which may use a third-party US broker. Lightyear’s Order Execution Policy explains how it seeks the best result for customers.
FX Conversion Fees
The fee most personal account holders will actually pay is currency conversion:
- FX fee: 0.1%, applied to the live interbank exchange rate
- It applies whenever you convert money, for example from pounds to dollars to buy US shares
In the GIA you can keep dollars and euros in your account, which avoids converting back and forth on every trade. Business accounts pay 0.35% instead.
Interest, Vaults and the Cash ISA
Lightyear offers three ways to earn a return on cash:
- Uninvested cash: earns a lower variable rate. Lightyear places some pound balances in qualifying money market funds to pay this, and you can opt out in the app.
- Vaults: easy-access money market fund investments in pounds, euros or dollars. The pound Vault showed 3.92% AER on 1 October 2026, after a fee of 0.15% or less.
- Cash ISA: tax-free, with a variable rate that follows the Bank of England base rate (3.75% AER on 1 October 2026).
All of these rates are variable. Vaults are an investment product, not a savings account, so your capital is at risk and FSCS deposit protection does not cover them.
ISA Costs
- No account fee on the Stocks and Shares ISA or Cash ISA
- No commission on shares, ETFs or gilts, and a 0.1% fee if you convert currency
- Free ISA transfers in, although your old provider may charge an exit fee
- Both ISAs are flexible, so withdrawals can be replaced in the same tax year
For a UK investor building a long-term portfolio in an ISA, this is one of the lower-cost set-ups available, provided you are comfortable with a digital-only platform.
Lightyear’s Customer Support
Customer service might not be the first thing you look at when choosing a broker, but it’s one of those features that really matters when something goes wrong.
Available customer support channels:
Overall, Lightyear’s support is digital first: in-app contact, email and a detailed help centre.
Account Setup Process
Opening an account with Lightyear is designed to be simple, fast, and entirely online.
Whether you want a General Investment Account or an ISA, you can apply online in a few steps.
1️⃣ Download the App or Visit the Website
Start by downloading the Lightyear app (available on iOS and Android) or registering through the web platform.
The mobile app and the web platform can each be used on their own, so pick whichever suits you.
2️⃣ Create Your Account
After entering your email address and creating a password, you will be asked for some personal details. These typically include your:
- Full name
- Date of birth
- Residential address
- National Insurance number (needed for an ISA)
Lightyear also collects information on your financial background and investment experience to meet regulatory requirements.
3️⃣ Identity Verification
To meet anti-money laundering rules, Lightyear needs to verify your identity, usually with a photo ID document such as a passport or driving licence.
Verification is often quick, but it can take longer if extra checks are needed.
4️⃣ Fund Your Account
Once verified, you can add money by bank transfer, which is free, or by debit card, Apple Pay or Google Pay, which costs 0.6%. There is no minimum deposit.
5️⃣ Choose an Account Type
UK customers can choose a Stocks and Shares ISA, Cash ISA or General Investment Account. If you are moving an ISA from another provider, use Lightyear’s ISA transfer service rather than withdrawing the money yourself, so it keeps its tax-free status.
6️⃣ Start Investing
Once your account is funded, you can search for shares, ETFs and gilts, build watchlists, set up Plans for automatic investing and read AI-generated summaries of why a share price moved.
The information provided on this page and throughout the website is for general information purposes only and does not constitute financial advice. It is important that you conduct your own research and consider your own personal circumstances before making any investment decisions.
Regulatory Safeguards
Lightyear is regulated in the UK and keeps client assets separate from its own. Here is how protection works for UK customers.
Regulated by the FCA
Lightyear operates through two regulated companies:
Lightyear UK Ltd (FCA)
UK customers are served by Lightyear UK Ltd, which is authorised and regulated by the Financial Conduct Authority (FRN 987226).
Lightyear Europe AS (EFSA)
Lightyear Europe AS is authorised by the Estonian Financial Supervision Authority (licence 4.1-1/31). It serves European customers and acts as the broker for US and European share orders placed by UK customers.
You can check Lightyear UK Ltd’s authorisation on the FCA Register using its firm reference number.
Segregation of Client Assets
You are the beneficial owner of your cash and investments. Lightyear holds them in accounts separate from its own, does not lend them out, and says they would be returned to you if it became insolvent. Uninvested cash is held with Citibank and NatWest and in qualifying money market funds.
FSCS Protection
UK customers are covered by the Financial Services Compensation Scheme (FSCS), but what is protected depends on where your money sits:
- Investments and cash held by Lightyear: if Lightyear failed and money or assets were missing, you may be able to claim up to £85,000 per person through FSCS investment protection.
- Cash held with UK banks: covered by FSCS deposit protection if one of Lightyear’s UK banks failed. The limit is shared with any other money you hold at the same banking group.
- Cash in money market funds and Vaults: not covered by FSCS deposit protection.
- Euro cash held with EU banks: covered by the local EU scheme rather than the FSCS.
No compensation scheme protects you if your investments fall in value.
How Orders Are Executed
Lightyear’s Order Execution Policy (effective 14 August 2026) describes a split model. Lightyear executes UK-listed shares itself, requesting prices from a panel of retail market makers and settling through CREST. Orders for US and European shares are passed to Lightyear Europe AS, which may route US orders to a third-party US broker. Fractional orders may be filled against the books of Lightyear Europe AS or that broker rather than on an exchange.
Lightyear alternatives worth considering
Lightyear is not the only low-cost investing app in the UK. Depending on whether you value the lowest costs, social features, simplicity or research, these are the alternatives we would look at first.
Best low-fee alternative
Trading 212
No commission or platform fee on shares and ETFs, plus a flexible Stocks and Shares ISA, a Cash ISA and a SIPP.
Visit broker →
Capital at risk.
Best for social investing
eToro
A multi-asset platform with social features, including CopyTrader if you want to follow other investors’ portfolios.
Visit broker →
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
Best for low-cost ETF portfolios
InvestEngine
No platform fee on DIY ETF portfolios, plus ready-made managed portfolios if you would rather have help.
Visit broker →
Capital at risk.
Best for funds and research
Hargreaves Lansdown
A wide range of funds, shares and bonds, plus in-depth research and phone support.
Visit broker →
Capital at risk.
Best for low-cost index funds
Vanguard
Vanguard’s own LifeStrategy and target retirement funds in an ISA, SIPP or Junior ISA.
Visit broker →
Capital at risk.
For experienced investors
Interactive Brokers
Access to markets worldwide and professional-grade tools, better suited to confident, hands-on investors.
Visit broker →
Capital at risk.
Every platform here is authorised by the FCA. If you are still weighing them up, answer a few questions in our Find My Broker quiz.
And make sure to check out our reviewed brokers!
Frequently Asked Questions
Closing Thoughts and Conclusion
Lightyear is one of the lowest-cost ways for UK investors to buy shares, ETFs and gilts. Personal accounts have no account fees or dealing commissions, and the main charge is a 0.1% currency conversion fee.
Its ISA range is now broad, with a flexible Stocks and Shares ISA, a Cash ISA and free ISA transfers in. Vaults give easy access to money market fund rates, although they are an investment rather than a protected savings account.
The gaps are a missing SIPP and Junior ISA, digital-only support, and higher charges for card deposits and business accounts. If you want a pension alongside your ISA, you will need a second provider.
For cost-conscious investors building a long-term ISA or a globally diversified portfolio, Lightyear is a strong option. As always, check the latest fees on Lightyear’s own site before you open an account.
Other recommended brokers
How we review brokers
This review follows the same process we apply to every broker, so you can see what the verdict above is actually based on.
- What we assessCost, safety and regulation, investment range, platform experience, account options, and support.
- Where it comes fromFee schedules, key features documents, terms and conditions, and the FCA Register.
- How often we checkAt least quarterly, and sooner when a broker changes its charges or accounts.
- IndependenceCommercial relationships do not change our verdict, or what we write about a broker.
Every broker we review is authorised by the Financial Conduct Authority.Our review methodology
