A promotion can be one part of a platform comparison, but it should not replace checking the provider, the account documents, the transfer route, and the costs that may apply. This guide is an information-only process for UK adults considering self-directed platforms. It is not personal financial advice, a recommendation to transfer, or an assessment of any particular firm.

What This Guide Helps You Check

Use this guide to separate an advertised headline from the documents and checks that sit behind it. Before relying on a promotion or starting a transfer, collect the offer terms, the relevant account terms, the fee schedule, and the transfer information for both providers. Read the current versions rather than relying on a social-media post, search result, comparison-table summary, or an older screenshot.

The aim is not to decide which platform is right for you. It is to make the comparison process more deliberate. You can identify what must happen for an incentive to be paid, whether the receiving account can accept the type of transfer you are considering, and which charges or restrictions could alter the practical value of the offer.

For a broader framework, see the site’s investment-platform comparison methodology. Then keep a short written record of the documents you checked, their dates, and the points that remain unclear. If a material question cannot be answered from official provider documentation, pause before submitting an instruction.

Read the Promotion Terms Before You Act

Start with the full promotion terms, not only the headline amount. Note the promotion name, publication date, end date, and the account or customer group to which it applies. A stated deadline may be only one condition: the terms may separately describe when an account must be opened, when a transfer request must be received, and when funds or assets must arrive.

Build a simple checklist from the wording:

  • Who is eligible, including whether existing customers, joint applicants, or people with a previous account are excluded?
  • Which account types qualify?
  • Is there a minimum cash deposit, transfer value, or number of transactions?
  • Must the entire transfer be completed, or can a partial transfer qualify?
  • Are particular asset types, account balances, or transfer routes excluded?
  • When is the incentive due, and what information or action is needed to receive it?
  • Is there a minimum holding period, or a consequence if the account is closed, transferred away, or falls below a stated value?

Treat every defined term as potentially important. For example, “application”, “instruction”, “completed transfer”, and “qualifying balance” may not mean the same thing. Record the exact condition alongside the relevant deadline instead of converting it into an assumption.

Next, compare the offer terms with the platform’s standard account conditions and fees. A promotion can have its own exclusions, while ordinary charges and dealing arrangements may still apply. The site’s guide to investment-platform offers and fees can help organise that comparison. If the provider’s written materials conflict, or if a condition is not clear, ask the provider through contact details obtained independently and retain the reply.

Check Transfer Terms and Account Compatibility

A transfer is not just an administrative step. Check that the account you hold and the account you plan to open are compatible with the proposed move. Confirm the account type in the documents; do not assume that a transfer process or promotion applies across every wrapper or account variant.

Read the receiving provider’s transfer instructions and the existing provider’s exit or transfer information. Look for whether the proposed route is cash, in specie, or another route described by the providers. The documents may explain whether investments can move as holdings, whether some assets are unavailable on the new platform, and whether any sale is required before the transfer can proceed. Do not assume that the timing, market exposure, charges, or administrative steps are identical for different routes.

Check the practical details before you submit an instruction:

  • the provider-specific transfer form or online process;
  • the account identifiers and account type requested;
  • whether the transfer is full or partial;
  • whether each holding is eligible for the selected route;
  • any transfer, exit, closure, dealing, or custody charges stated by either provider;
  • what the terms say about pending income, cash, corporate actions, or account access during the process; and
  • the stated process for correcting an incomplete or rejected request.

Keep copies of the submitted instruction and the terms that applied at the time. Do not rely on an informal statement that a transfer “should be quick” or “will be free”; look for the actual scope, conditions, and exclusions in the provider documentation.

Tax wrappers can have their own rules and provider processes. This article does not determine the tax outcome of a transfer. If you are unsure about the account type, route, or consequences of a proposed instruction, pause and obtain authoritative information before proceeding. See the site’s ISA transfer guide and platform-fees explainer for questions to structure in your own research.

Calculate the Net Value of a Promotion

An incentive is only one line in a comparison. Create a short, non-personalised calculation using figures from the current terms and fee schedules. Begin with the stated value of the promotion, then list each cost or condition that could affect the result.

A useful worksheet can include:

Item What to record
Promotion Amount or benefit, qualifying threshold, payment timing, and holding conditions
Platform charges The relevant ongoing or account charges stated in the fee schedule
Trading costs Any dealing, foreign-exchange, or other transaction charges relevant to your intended activity
Transfer and exit costs Charges, exclusions, or asset-treatment points stated by either provider
Time conditions Deadlines and any minimum period before closure or transfer away

Use the published terms rather than estimating from an advertisement. If a cost is variable, record the formula or circumstances described by the provider instead of inventing a single figure. If the offer value depends on a balance, transfer completion, or a later payment date, identify that dependency clearly.

This is a comparison aid, not a forecast of returns or a recommendation. A larger headline incentive does not by itself answer whether a transfer is suitable, affordable, or operationally straightforward. Recheck the figures if the provider changes its terms, the transfer route changes, or a holding cannot move as originally expected.

Pause When Pressure or Warning Signs Appear

Pause when an online promotion tries to replace verification with urgency, status, or promised outcomes. The FCA says online trading scams are often promoted online and through social media, and may use fake celebrity endorsements and luxury imagery to entice people. It also says scammers may use professional-looking websites, initially show apparent returns, and then encourage people to invest more or introduce others.

High-return language needs particular care. The FCA’s InvestSmart guidance says high-risk investments should be treated with caution and may result in the loss of all money invested; it notes that a search for big payouts in a short time involves disproportionately higher risk.

Warning signs that justify a pause include:

  • pressure to act immediately or send more money;
  • promises of high or unrealistic returns with little discussion of risk;
  • social-media ads, celebrity imagery, or luxury imagery used in place of verifiable documents;
  • a claim that a firm is UK-based or FCA-authorised without independently checkable details; and
  • a request to rely on contact details supplied in the promotion rather than details you have verified yourself.

A warning sign does not establish that a particular firm is fraudulent. It does mean you should not treat the promotion as sufficient proof. The FCA advises dealing only with firms it authorises and using its Firm Checker to check whether a firm is authorised and has permission for the service offered. It also directs consumers to its Warning List for firms to avoid.

Use a Simple Pre-Transfer Verification Checklist

AI-generated generic editorial illustration — not a retailer product photo and does not depict the reviewed product or service. Reinforce the practical, non-advised verification sequence before a transfer or promotion decision.

Reinforce the practical, non-advised verification sequence before a transfer or promotion decision Use the same order each time so that an attractive deadline does not skip a basic check.

  1. Save the current promotion terms, fee schedule, account terms, and transfer instructions. Record the page date and the deadline that applies.
  2. Identify the exact provider legal name, the service being offered, and the contact details in the provider’s documents.
  3. Independently use the FCA Firm Checker to check whether the firm is authorised and has permission for the service you are considering. Do not rely only on an authorisation claim in an advert, search result, or message.
  4. Compare the provider details and contact route with the information you found independently. If they do not match, pause.
  5. Confirm the account type, transfer route, qualifying amount, dates, exclusions, and any holding conditions from the written terms.
  6. Check how each existing holding would be treated and list any stated fees or unresolved operational questions.
  7. Retain copies of the documents, correspondence, and submitted instruction. If pressure, inconsistent information, or a missing answer remains, do not proceed until you can verify it through an authoritative source.

This sequence is designed to support independent checking, not to tell you whether to invest or transfer. The FCA’s guidance specifically warns that scam firms may claim to be FCA-authorised, which is why independent status and contact-detail checks matter.

Frequently Asked Questions

How can I check whether an investment firm is authorised in the UK?

Use the FCA Firm Checker to check whether the firm is authorised and has permission for the service offered. The FCA says that firms involved in scams may claim to be UK-based or FCA-authorised, so compare the provider’s stated details with information obtained independently rather than relying only on an advert or message.

No. A promotion is one part of the comparison. Check its qualifying conditions, payment timing, holding requirements, account compatibility, transfer route, and the charges described in the relevant fee schedules and terms. This guide cannot determine whether a transfer is right for you.

What should I do if a promotion uses urgent deadlines or promises high returns?

Pause and verify independently. The FCA warns that online trading scams can be promoted through social media and search engines, may use professional-looking websites, and may offer high returns. Its high-risk investment guidance says that seeking big payouts in a short time involves disproportionately higher risk. Check the firm through the FCA’s tools and do not let urgency replace document review.

Can transfer terms differ between cash and in-specie transfers?

They can be described differently in provider documentation. Check each provider’s current transfer instructions for the route available, how holdings are treated, any asset restrictions, required forms, and applicable charges. If the route or treatment of a holding is unclear, pause and seek authoritative clarification before sending an instruction.

Before acting, save the documents, independently verify the provider, and write down every condition you cannot confirm. Use the site’s investment-platform comparison methodology as your next reference point.

Sources

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