Short answer
Which is cheaper?
For a £20,000 fund ISA, Moneybox models at £102/year and Vanguard at £48/year. At £100,000, Moneybox models at £462/year and Vanguard at £150/year.
- Fee winner
- Vanguard is much cheaper for simple fund or ETF portfolios.
- Small balances
- Vanguard's £4/month minimum still beats Moneybox at £20,000.
- US stocks
- Moneybox supports US stocks; Vanguard does not offer individual shares.
Fee model
Platform, dealing and FX fees
| Fee area | Moneybox | Vanguard |
|---|---|---|
| Platform/account fee | £1/month plus 0.45% a year on investments. | £4/month below £32,000; then 0.15% capped at £375/year. |
| Dealing fee | £0 commission in the model. | £0; optional quote-and-deal ETF fees excluded. |
| FX fee | 0.45% for US-stock trades. | No direct US-share dealing in the model. |
| Investment range | Tracker funds, ETFs, and individual US stocks. | Vanguard funds and ETFs, no individual shares. |
| Flexible ISA | No | Yes |
Worked examples
Calculator-backed scenarios
- £20,000 fund ISA, no FX: Moneybox £102; Vanguard £48.
- £100,000 fund ISA, no FX: Moneybox £462; Vanguard £150.
- £50,000 mixed portfolio with £500/month US-stock FX: Moneybox £264; Vanguard £75, but Vanguard needs a substitution for direct US shares.
These examples use the same fee assumptions as the main ISA fees calculator. They exclude fund ongoing charges, ETF costs, market spread, investment performance, and temporary promotions.
Important caveats
Before switching provider
Provider fees can change, and terms can vary by product, plan, transfer route, cash interest policy, and promotion. Verify the provider's current terms before opening or transferring an ISA.
This page is factual educational content, not personal financial advice or a recommendation to buy, sell, transfer, or choose a specific investment platform.
FAQ
Common questions
Is Moneybox or Vanguard cheaper for a fund ISA?
For a £20,000 fund ISA with no FX, Moneybox models at £102/year and Vanguard at £48/year. At £100,000, Moneybox models at £462/year and Vanguard at £150/year.
Does Vanguard ISA support US stocks?
Vanguard's ISA covers Vanguard funds and ETFs but does not offer individual share dealing. Moneybox supports US stocks at a modelled 0.45% FX charge.
At what balance does Vanguard switch from its flat monthly fee?
In the model, Vanguard charges £4/month below £32,000, then switches to 0.15% (capped at £375/year) above that level.
Sources