Updated September 28, 2026 · BrokerCue Editorial Team
Nutmeg vs TradeUP
Where Nutmeg and TradeUP differ
| Compare |  Nutmeg |  TradeUP |
|---|---|---|
| Stock trade fee | £0 | $0 |
| Markets | ETFs, Funds, Stocks, Bonds | ETFs, Options, Stocks |
| Regulators | Financial Conduct Authority | SIPC |
| Investor protection | FSCS up to GBP 85,000 | SIPC up to USD 500,000 |
| Minimum deposit | £500 | Not confirmed |
| Options contract fee | Not confirmed | $0.65 |
| Deposit and withdrawal fees | no set-up, trading or exit fees | Not confirmed |
| Platforms | Web, Mobile app | Not confirmed |
| Account types | ISA, SIPP | Not confirmed |
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Key differences
- Nutmeg scores higher overall: 9.2 vs 8.8.
- Regulators: only Nutmeg offers Financial Conduct Authority.
- Regulators: only TradeUP offers SIPC.
- Markets: only Nutmeg offers Funds, Bonds.
- Markets: only TradeUP offers Options.
Our verdict on each
Nutmeg
Nutmeg suits UK investors who want a managed portfolio held in an ISA or SIPP rather than a self-directed dealing account. The cost of that convenience is a single management fee of 0.25% to 0.75%, with a £0 stock trade fee and FSCS protection of FSCS up to GBP 85,000 in place.
TradeUP
TradeUP suits retail investors who want free stock dealing and low options costs from a US broker holding SIPC membership. Stock trades cost $0 and investor protection stands at SIPC up to USD 500,000. Markets are limited to etfs, options and stocks, so it suits single market US investors.
Score breakdown
| Area | Nutmeg | TradeUP |
|---|---|---|
| Cost | 9.0Management fees of 0.25% to 0.75% run above the robo-adviser median of 0.35%, and the entry floor is high. | 9.0Stock trades cost $0 and options contracts cost $0.65, with no account charge listed. |
| Offer | 9.6Higher | 8.8 |
| Trust | 9.1Higher | 8.6 |
Side by side, item by item
| Markets | Nutmeg | TradeUP |
|---|---|---|
| Stocks | Yes | Yes |
| ETFs | Yes | Yes |
| Options | No | Yes |
| Bonds | Yes | No |
| Funds | Yes | No |
What we checked
Nutmeg
- nutmeg.com: 5 facts, checked September 26, 2026
- investing-reviews.co.uk: 3 facts, checked September 26, 2026
- register.fca.org.uk: 2 facts, checked September 26, 2026
- compareandinvest.co.uk: 1 fact, checked September 26, 2026
- jpm-personal-investing-marketing.cdn.prismic.io: 1 fact, checked September 26, 2026
TradeUP
- play.google.com: 3 facts, checked September 26, 2026
- sipc.org: 3 facts, checked September 26, 2026
- tradeup.com: 1 fact, checked September 26, 2026
How they place
| Ranking | Nutmeg | TradeUP |
|---|---|---|
| Stock and ETF brokers | 101 of 471 | 188 of 471 |
Every fact side by side
| Fact | Nutmeg | TradeUP |
|---|---|---|
| Features | Mobile app | Not confirmed |
| Pricing model | Commission free | Commission free |
| Legal entity | J.P. Morgan Personal Investing Limited | TRADEUP SECURITIES INC |
| Headquarters | United Kingdom | Not confirmed |
| Founded | 2012 | Not confirmed |
| Support channels | Email, Chat, Phone, Help centre | Not confirmed |
Where each stands against the rest
| Fact | Nutmeg | TradeUP | Median |
|---|---|---|---|
| Minimum deposit | £500highest quarter | Not confirmed | £20 |
| Options contract fee | Not confirmed | $0.65above the median | $0.625 |
Median across 38 listed brokers.
Pros and cons
Nutmeg
Pros
- One ongoing charge to read: management fees of 0.25% to 0.75%, with no set-up, trading or exit fees on top.
- Holdings span etfs, funds and stocks, so a managed basket can still cover a wide spread of asset types.
- Regulated by the Financial Conduct Authority, with FSCS protection of FSCS up to GBP 85,000 behind the account.
Cons
- Management fees of 0.25% to 0.75% sit above the robo-adviser median of 0.35%, and the cost rises as the balance grows.
- The opening deposit is £500 and later money goes in from £100 to £500, higher than the robo-adviser median of €60.06.
- The portfolio range is etf, esg and cash only, so there is no crypto or thematic option to tilt towards.
TradeUP
Pros
- Stock trades carry a fee of $0 on a commission free model
- Options contracts cost $0.65
- Client accounts sit with SIPC protection of SIPC up to USD 500,000
Cons
- Trading is limited to etfs, options and stocks
- The regulated entity is TRADEUP SECURITIES INC, so claims are made in the US
Who each suits
Nutmeg
Who it suits
- UK investors who want a managed portfolio inside an ISA or a SIPP and accept a single ongoing charge for the service.
- People who would rather not research individual funds, since the holdings run to etf, esg and cash approaches chosen and held for you.
- Investors who want a phone line as well as written support, since email, chat and phone includes phone, chat, email and a help centre.
Who should look elsewhere
- Anyone starting with a small first payment, since the £500 deposit is well above the robo-advisor lower quartile of €0, and Axos Invest begins at $100 in US dollars.
- Shoppers who want the lowest ongoing charge, since eToro runs a 0% management fee and Vivid Standard charges 0.5% to 1.5%, against Nutmeg's 0.25% to 0.75%.
- Investors who want accounts in US dollars, because Axos Invest takes $100 in dollars while Nutmeg's £100 to £500 sits in pounds.
TradeUP
Who it suits
- Retail investors buying and holding US shares and ETFs
- Options traders who keep contract costs low
Who should look elsewhere
- eToro, which covers a wider set of stocks, etfs and forex
- Vantage, which adds forex, cfds and stocks
- CFI, which lists stocks, etfs and forex
Current offers
Nutmeg
Current offer
Bonus
Earn £100 when you invest £1,000: GBP 100 cash reward
Invest at least £1,000 in one payment into a General Investment Account, Stocks and Shares ISA, Lifetime ISA, Junior ISA or Personal Pension and keep it invested for at least 6 months; new contributions only, transfers excluded; reward paid as unallocated cash within 55 days; new clients only, cannot be combined with other new-client offers
Source, checked September 26, 2026
Country by country
| Country | Nutmeg | TradeUP |
|---|---|---|
| United Kingdom | Yes | No |
| United States | No | Yes |
Questions about each
Nutmeg
What does Nutmeg charge to manage my money?+
The charge is a single management fee of 0.25% to 0.75%, which sits above the robo-adviser median of 0.35% in this group. There are no set-up, trading or exit fees to add on top. Money can go in from £100 to £500, so the cost is a percentage of what you hold rather than a price per deal.
How much do I need to open an account?+
The minimum deposit is £500, and once the account is open money can go in from £100 to £500. That first payment is the step most readers notice, and it sits above the lower quartile of €0 across robo-advisers here.
TradeUP
How much does it cost to buy shares?+
Buying and selling shares carries a fee of $0, and the pricing model is commission free. There is no listed account charge or inactivity charge to offset that, so the dealing cost sits entirely on the trade.
What does an options contract cost?+
An options contract is charged at $0.65. Options are part of the etfs, options and stocks range, so contracts can be traded alongside shares and ETFs in the same account.
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