Dodl Review

Company background

Dodl is a mobile investing app launched in April 2022 by AJ Bell, a FTSE 250 company and one of the UK's largest investment platforms. AJ Bell has been operating since 1995 and is authorised and regulated by the Financial Conduct Authority. Dodl was built as a simplified, lower-cost entry point to investing, targeting beginners who prefer a more streamlined experience. It shares the regulatory and custodial infrastructure of AJ Bell but restricts the investment range to a curated selection of funds, ETFs and individual shares.

Dodl supports four account types: a Stocks and Shares ISA, Lifetime ISA, Self-Invested Personal Pension (SIPP) and General Investment Account (GIA). The platform is app-only with no web browser access.

Fees and pricing

Dodl charges a single annual platform fee of 0.15% of the value of investments in each account, subject to a minimum of £1 per month per account. No dealing commissions apply to stocks, ETFs or funds. Account opening, transfers, cash holdings, withdrawals and account closures are all free. For US share trades, a foreign exchange charge applies: 0.75% on the first £10,000, 0.50% on the next £10,000 and 0.25% above £20,000, with dividend conversions charged at 0.50%. UK share purchases attract stamp duty of 0.50% and a PTM levy of £1.50 on trades over £10,000. Uninvested cash earns 3.80% AER variable interest in ISA and Lifetime ISA accounts.

Regulation and safety

Dodl is a trading name of AJ Bell Securities Limited, which is authorised and regulated by the Financial Conduct Authority. Client assets are held in segregated accounts separate from AJ Bell's own assets. Cash held in client accounts is protected under the Financial Services Compensation Scheme (FSCS) up to £120,000; investment protection is limited to £85,000 per person per firm. Direct share investments do not receive FSCS protection, and losses from poor investment performance are not covered.

Platform experience

Dodl is available as a mobile app for iOS and Android only, with no web browser version. Investments are presented in three categories: AJ Bell managed funds (seven risk-graded portfolios), themed investments (index funds and ETFs grouped by sector, region or responsible-investing focus), and direct shares (around 80 UK and US listed companies). The minimum lump-sum investment is £100, or £25 per month by direct debit. Share orders execute once daily at a fixed time, not in real time, so prices may differ from those shown at the time of order placement. No demo account is available.

Pros and cons

Dodl's main advantages are its low transparent pricing, the backing of a well-established FCA-regulated parent, a range of tax-efficient accounts including a Lifetime ISA and SIPP, and FSCS cash protection up to £120,000. The main drawbacks are the app-only format, once-daily order execution, a limited universe of around 80 shares, the effective minimum fee of £1 per month, and the absence of a demo account.