Updated September 29, 2026 · BrokerCue Editorial Team
Nutmeg vs TradeZero
Nutmeg vs TradeZero: the differences
| Compare |  Nutmeg |  TradeZero |
|---|---|---|
| Stock trade fee | £0 | $0 |
| Markets | ETFs, Funds, Stocks, Bonds | Stocks, Options |
| Regulators | Financial Conduct Authority | AFM |
| Investor protection | FSCS up to GBP 85,000 | EU ICS up to EUR 20,000 |
| Deposit and withdrawal fees | no set-up, trading or exit fees | $15 wire transfer out |
| Platforms | Web, Mobile app | ZeroPro, ZeroFree, ZeroMobile, TZ1, TradingView |
| Minimum deposit | £500 | Not confirmed |
| Inactivity fee | Not confirmed | $0 |
| Margin rate | Not confirmed | 9% |
| Options contract fee | Not confirmed | $0.59 |
| Account types | ISA, SIPP | Not confirmed |
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Key differences
- Nutmeg scores higher overall: 9.2 vs 8.9.
- Regulators: only Nutmeg offers Financial Conduct Authority.
- Regulators: only TradeZero offers AFM.
- Founded is lower at Nutmeg: 2012 vs 2015.
- Markets: only Nutmeg offers ETFs, Funds, Bonds.
- Markets: only TradeZero offers Options.
- Platforms: only Nutmeg offers Web, Mobile app.
- Platforms: only TradeZero offers ZeroPro, ZeroFree, ZeroMobile.
- Support channels: only Nutmeg offers Email, Phone.
- Features: only TradeZero offers Demo account.
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.
TradeZero
TradeZero suits traders who want stocks and options on a single account without a per-trade commission, and the demo account gives beginners a place to practise. Options cost $0.59 a contract, and the account works through desktop, mobile and charting tools.
Score breakdown
| Area | Nutmeg | TradeZero |
|---|---|---|
| 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. | 9.1HigherStock trades cost $0, ranking first of 161 brands on that fee, and the inactivity fee ranks first of 56. |
| Offer | 9.6Higher | 9.1 |
| Trust | 9.1Higher | 8.6 |
Licences and countries
| Country | Nutmeg | TradeZero |
|---|---|---|
| Netherlands | Not confirmed | |
| United Kingdom | Financial Conduct Authority 552016 | Not confirmed |
Side by side, item by item
| Markets | Nutmeg | TradeZero |
|---|---|---|
| Stocks | Yes | Yes |
| ETFs | Yes | No |
| Options | No | Yes |
| Bonds | Yes | No |
| Funds | Yes | No |
Positions in our rankings
| Ranking | Nutmeg | TradeZero |
|---|---|---|
| Stock and ETF brokers | 101 of 471 | 169 of 471 |
Sources behind this comparison
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
TradeZero
- tradezero.com: 15 facts, checked September 26, 2026
Every fact side by side
| Fact | Nutmeg | TradeZero |
|---|---|---|
| Features | Mobile app | Demo account, Mobile appCovers more |
| Pricing model | Commission free | Commission free, Low feesCovers more |
| Audience | Not confirmed | Experienced, Beginners, Day traders |
| Legal entity | J.P. Morgan Personal Investing Limited | TradeZero Europe B.V. |
| Headquarters | United Kingdom | Not confirmed |
| Founded | 2012Lower | 2015 |
| Support channels | Email, Chat, Phone, Help centreCovers more | Chat, Help centre |
Where each stands against the rest
| Fact | Nutmeg | TradeZero | Median |
|---|---|---|---|
| Minimum deposit | £500highest quarter | Not confirmed | £20 |
| Inactivity fee | Not confirmed | $0at the median | $0 |
| Margin rate | Not confirmed | 9%above the median | 8.75% |
| Options contract fee | Not confirmed | $0.59below 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.
TradeZero
Pros
- Regulated in the Netherlands by AFM, with investor protection of EU ICS up to EUR 20,000.
- Margin positions run at a rate of 9%.
- A demo account and a mobile app are included, so the platform can be learned before funding.
Cons
- Support runs on chat and help centre only.
- A wire transfer out of the account costs $15 wire transfer out.
- The market range is stocks and options, so forex, crypto and metals are not covered.
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.
TradeZero
Who it suits
- Traders buying stocks and options who do not want a per-trade commission.
- Beginners who want a demo account and a mobile app before putting money in.
- Day traders who work across several platforms rather than a single terminal.
Who should look elsewhere
- Anyone after forex, crypto or futures, where eToro covers stocks, etfs and forex.
- Traders who want metals and CFDs beside stocks, which Vantage covers with forex, cfds and stocks.
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
TradeZero
Current offer
Bonus
Welcome Offer WELCOME250: 250
with a $250+ deposit during sign-up
Source, checked September 26, 2026
Country by country
| Country | Nutmeg | TradeZero |
|---|---|---|
| United Kingdom | Yes | No |
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.
TradeZero
What does TradeZero charge to trade stocks and options?+
Stock trades cost $0 per trade, and options cost $0.59 a contract. The pricing model is described as commission-free and low-fee, so the per-order cost is the main thing to compare. The inactivity fee is $0, so an idle account is not charged.
Is my money protected if something goes wrong?+
The account is provided by TradeZero Europe B.V., which is licensed by AFM in the Netherlands. Investor protection is EU ICS up to EUR 20,000, so money above that figure sits outside the scheme. Keeping larger balances elsewhere limits what is at stake.
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