Lightyear is a low-cost UK investment platform that lets you buy and hold stocks, ETFs, and multi-currency cash without paying trading commissions. Lightyear UK Ltd has been directly authorised and regulated by the Financial Conduct Authority since September 2024 (FRN 987226), with eligible customer cash protected by the FSCS up to £120,000 via partner banks Citibank and NatWest.
Founded
2020
6 years old
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4.7 ★
0.71k reviews
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4.4 ★
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Worth £8
Lightyear UK Ltd is authorised and regulated by the Financial Conduct Authority (FRN 987226). Eligible cash held with partner banks (Citibank and NatWest) is FSCS-protected up to £120,000. Investments and Vaults are not FSCS-protected. Capital at risk.
A clean, no-frills broker built by ex-Wise people, with Quidsy showing a £15 cashback offer right now. Suits cost-conscious investors who already know what they want to buy, especially for an ISA. Watch-out: the Vaults product is a money market fund, so cash sitting in there is not FSCS-protected.
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Value
£8
Lightyear is a low-cost UK investment platform that lets you buy and hold stocks, ETFs, and multi-currency cash without paying trading commissions. Lightyear UK Ltd has been directly authorised and regulated by the Financial Conduct Authority since September 2024 (FRN 987226), with eligible customer cash protected by the FSCS up to £120,000 via partner banks Citibank and NatWest.
The platform was founded in 2020 by Martin Sokk and Mihkel Aamer, two of the early Wise (TransferWise) employees, and now operates across Europe and the UK.
Lightyear works best if you're a self-directed investor who wants cheap, no-frills access to stocks and ETFs across UK, US, and European markets. The Stocks & Shares ISA and Cash ISA, launched in January 2025, are particularly cost-effective for tax-efficient investing, and the Vaults product gives you somewhere to park uninvested cash while earning interest.
It's less of a fit if you want hand-held research tools, fractional shares of every obscure ticker, or a primary platform for active day trading. Think of it as a clean, low-cost secondary platform for cost-conscious investors who already know what they want to buy.
Yes, Lightyear is regulated and protected at the UK level. Lightyear UK Ltd is directly authorised by the Financial Conduct Authority (FRN 987226), and eligible cash held with the platform's partner banks (Citibank and NatWest) is protected by the FSCS up to £120,000. Your investments are held in segregated accounts, kept separate from Lightyear's own assets.
Lightyear got direct FCA authorisation in September 2024, having previously operated in the UK as an appointed representative of another regulated firm (RiskSave Technologies). That direct authorisation is what enabled the FSCS protection and the ISA launch in January 2025.
One important caveat worth flagging: Lightyear's Vaults product puts your cash into BlackRock-managed money market funds, not into a regular savings account. These funds are AAA-rated and very low risk in practice, but they are not cash deposits, and they are NOT FSCS-protected.
If a money market fund's underlying assets ever failed, your money would not be covered the way it would be if it sat in a regulated UK savings account. For most users the risk is small, but it's worth knowing the difference between "FSCS-protected cash" and "money market Vault" before you tip a chunk in.
Lightyear is best suited for self-directed investors who want to pick their own stocks and ETFs without paying high platform fees. The zero-fee GIA and Stocks & Shares ISA make it a strong option for both general investing and tax-efficient ISA contributions. It is also a good choice for anyone who invests in US or European markets, thanks to competitive FX rates and multi-currency accounts.
Buy UK, US, and European stocks and ETFs with no trading commissions, no platform fee, and no account charges. Bank transfers in and out are free.
Both ISA wrappers carry no platform, subscription, or custody fees. The Cash ISA pays an AER that tracks the Bank of England base rate (variable).
Park your spare cash in BlackRock-managed money market funds. The Sterling Vault pays around 3.78% AER as of May 2026 (variable, after a 0.20% annual management fee).
Hold and convert between GBP, USD, and EUR at competitive rates. Useful if you trade US or European stocks and want to time your FX moves.
Started in 2020 by Martin Sokk and Mihkel Aamer, both early Wise employees. The lineage shows in the clean app design and transparent pricing.
I think Lightyear is worth a look if you want a no-frills, low-cost platform to hold stocks, ETFs, or an ISA without paying through the nose. The March 2026 pricing changes pushed it firmly into commission-free territory across UK, US, and EU markets, and the Stocks & Shares ISA is genuinely cheaper than the big incumbents over the long run.
The £15 Quidco cashback offer is a quick win if you'd open an account anyway. Deposit £5 or more into your General Investment Account through Quidco, hold it for about eight weeks, and Quidco pays the £15 cash. Your £5 stays yours to keep, withdraw, or move into a Vault to earn a bit of interest while you decide what to invest in.
The honest caveats: it's still a smaller platform than the big brokers, the research tools are basic, and the Vaults product is a money market fund not a savings account, so your cash there isn't FSCS-protected the way it would be in a normal bank. If those things matter to you, treat Lightyear as a low-cost secondary platform rather than your main account. If they don't, the value-for-money is hard to beat.
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£8 Free Cash is the strongest live Lightyear route we have listed right now.
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