Really Poor Investment App. Avoid if Possible!
I have transferred my Cash LISA into a Stocks & Shares LISA as I have been using a Stocks & Shares ISA with success (I use common & popular ETFs). I use Trading 212 which has plenty of options & tools to use to make investment decisions. I expected to have plenty of options for investment as I have heard good things about AJ Bell however there is an extremely poor choice of options with performance data so poor that it might as well not be there as it barely provides any detail.
I have noticed that the app is not able to add up my investments properly & give the correct investment change percentage. This is very concerning as that is something that is very basic.
They clearly state that there will be reminders for the charges on the account however, I have not received any & have chased up about it yet I still don’t receive the reminders.
The only good thing I can say about this platform is it has low fees, otherwise please avoid using Dodl!
I have noticed that the app is not able to add up my investments properly & give the correct investment change percentage. This is very concerning as that is something that is very basic.
They clearly state that there will be reminders for the charges on the account however, I have not received any & have chased up about it yet I still don’t receive the reminders.
The only good thing I can say about this platform is it has low fees, otherwise please avoid using Dodl!
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Response from developer
Hi there, thank you for sharing your feedback, our team are always working to improve the app experience. If you have any specific questions, please let the team know at hello@dodl.co.uk
Super easy app
It took me a while to get used to this app as I’d used another platform previously.
I was advised that the funds offered by this company were trustworthy and more likely to gain long term returns.
I am pleased so far with how my investments are going and have learned a lot from this great app for new-ish investors like myself.
I was advised that the funds offered by this company were trustworthy and more likely to gain long term returns.
I am pleased so far with how my investments are going and have learned a lot from this great app for new-ish investors like myself.
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App has a lot of potential
Really like what the app does. It’s easy to choose what to invest and they give you plenty of choices to pick from that align with your risk appetite. You can also quite easily see how your money is doing over time.
Now the not so good, as a UX Designer this app is quite difficult to get your head around. You don’t always know how to invest monthly. Took me ages to get used to it and to be honest, I’m still not. When the money will be reinvested is not clear and how you go about it isn’t clear either. You expect to put them one in and it’s done on your behalf. But if you don’t actively do it, then it just sits in your pot. I think for one-off this makes sense, but monthly you’d expect it’s done automatically for you. Almost like a direct debit for your investment choice.
Now the not so good, as a UX Designer this app is quite difficult to get your head around. You don’t always know how to invest monthly. Took me ages to get used to it and to be honest, I’m still not. When the money will be reinvested is not clear and how you go about it isn’t clear either. You expect to put them one in and it’s done on your behalf. But if you don’t actively do it, then it just sits in your pot. I think for one-off this makes sense, but monthly you’d expect it’s done automatically for you. Almost like a direct debit for your investment choice.
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Mr
While it’s a great app, and I appreciate it’s meant to offer a simplified range of funds; there is “simplified” and then there is simplified. In the current climate, a few more funds for precious metals other than gold would be good. Moreover, with an overvalued US market, why not have a “World ex-US” fund as a simple way to diversify your portfolio while avoiding the US? Just a few more funds would strike a slightly better balance between simplicity and optionality.
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Good
I have been using for a year or two. I’m a beginner into investing. Not used other platforms but this is simple enough. The range is limited but enough it feels if you doing want to be bombarded with Tons of ETFs, shares etc. the funds AJ Bell chose appears stable. Messaging is fine in app. Transfer took a few days from another high street account. My Portfolio is up.
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Do not use
I moved from Vanguard to this and the service and app is shocking. The transfer took many MONTHS of back and forth and chasing Dodl and then the app is so glitchy I set up a direct debit nothing was taken the following month, when I chased them up they said you missed the cut off that’s why..cue the month after that I was told to set up a direct debit?! Such a mess! Don’t risk trusting them with your money tbh I’m moving elsewhere
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The worst service ever
I have been trying for two weeks to open a stocks and shares ISA. Possibly I had written wrongly my date of birth and it could not proceed. They never replied back to me and I aas sending messages for days. I was never told the reason and after two weeks they told me about the date of birth mistake. I had asked so many times but I was told after so many days. I have been trying to delete my account and even that cannot be done. Very low and cheap service and maybe the worst application ever. Never approach them. It is not worth. How can you trust a company with your money when they behave with such lack of professionalism?
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Forget the referral!
App works and is easy to use. Disappointed with the referral £30. I am not a shopper, certainly not with any of brands on the list so I win't be using the refer a friend again and both my & the person who I referred will not be benefiting from it.
Nice App but can’t be used on a weekend
As per the title the app is easy to use and set up a direct debit. However, if you want to check on your finances on a weekend the app always seems to be under maintenance. Don’t know why this isn’t done during working hours or at night. Surely they know their customers have more free time on a weekend.
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Low fees but app always under maintenance
Fees are great, app reasonably easy to use and easy to deposit money.
BUT the app always seems to be under maintenance for the entire weekend (Fri night - Sun night) several times a month which is ridiculous - could this window not just be a Wednesday or Thursday night overnight release?!?! Or a Saturday night release worst case.
BUT the app always seems to be under maintenance for the entire weekend (Fri night - Sun night) several times a month which is ridiculous - could this window not just be a Wednesday or Thursday night overnight release?!?! Or a Saturday night release worst case.
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Really good… but…
Really good platform and very simple to use. But I just wish AJBell would move with the times and allow fees to be paid by direct debit. Currently you have to sell down your holdings within your isa to pay fees. This is not acceptable given the competition. You need to up your game AJBell!
Could be a lot better
Slow. Buggy. Surprisingly hard to do simple things like adding to an existing investment without having to search for the fund again. Basic things like seeing how much LISA allowance is left are missing or so hard to find I’ve not found it.
Overall good platform, however…
Overall it is a good platform with competitive rates and a good app however, my main frustration is that the fees are charged through cash sitting in your account. This is particularly frustrating when using a ISA/LISA as you have to waste a portion of your ISA allowance to pay for fees. Why can’t we pay via direct debit or debit cards like every other platform? I would also like to see more fund varieties as there seems to be very little choice for funds compared to other platforms like HL.
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Easy to use App
This was super easy to set up. I’d been trying to open a Stocks and Shares LISA with another company (HL) for a couple of months and it was just super impossible for me - will probably try again in the 23/24 year. I set this account up and had my first order in 10mins. Thanks!
Purchase does not go through straight away
I am disappointed that when buying shares through this platform the order does not go through until 3.15pm, this causes worry as to if the share price goes up you have lost the gains. People should be able to look up the price of the stock on the internet and if they are happy with the price buy instantly on here.
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Fails to provide information on funds
I was astounded as to why a platform that aims to simplify things for users offers no information whatsoever as to which particular companies will be invested in as part of a fund.
I’m investing thousands of pounds but the key investor information does not include any information about which companies I will be buying shares of.
I think I should be able to see all the companies I am investing in as part of a fund, even if there are hundreds of them.
I’m investing thousands of pounds but the key investor information does not include any information about which companies I will be buying shares of.
I think I should be able to see all the companies I am investing in as part of a fund, even if there are hundreds of them.
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Not a bad option however may be quite expensive
Overall the options available for the funds and as an app on the design level I have no complaints.
However as other reviews have mentioned it’s 0.15% fee is amazingly cheap it’s not as plain as it’s seems. You have on top of this a £1 per month fee so for a lot of users who may be thinking of doing 25-£50 a month for example it works out fairly expensive percentage wise vs more financially well off and savvy main platform users and members that save up and only deposit £4000k once a year.
If your one of the smaller fish depositing smaller sums look for lower percentage platforms with low or no dealing fees.
However as other reviews have mentioned it’s 0.15% fee is amazingly cheap it’s not as plain as it’s seems. You have on top of this a £1 per month fee so for a lot of users who may be thinking of doing 25-£50 a month for example it works out fairly expensive percentage wise vs more financially well off and savvy main platform users and members that save up and only deposit £4000k once a year.
If your one of the smaller fish depositing smaller sums look for lower percentage platforms with low or no dealing fees.
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Response from developer
Thank you for the review and for the feedback! I'll pass it on to the team. Our charge is 0.15% of your investment value (£1 per month minimum per account), and the £1 isn't an extra charge on top of it, although if 0.15% of your investments comes to less than £1 then the minimum charge will be applied 🙂. If you need anything please just let us know in the app or get in touch over at hello@dodl.co.uk Rob
Best DIY investment LISA on the market
Pros:
(1) Best value for money DIY investment LISA for those of us who want to control our investment choice but with zero commissions
(2) 0.15% account platform fee significantly undercuts the likes of the Roboadvisers like Moneybox and Nutmeg, and competes with Vanguard’s 0.15% platform fee
(3) Simple and no frills investing. You won’t be tempted to check the app too often as it isn’t gamified with live pricing, instant trades or price alerts
(4) Educational. The copy writing is friendly and does try to make investing understandable
(5) Can invest individual US shares from the NYSE and NASDAQ
Improvements I’d like to see:
(1) Benchmark the 0.75% overseas shares FX fee down to 0.50% to compete with fintech rates like Freetrade’s 0.45%
(2) Portfolio graph visual
(3) The option to pay the account fee by direct debit, not just floating available cash
(4) An iOS widget.
(5) Instant trades.
Overall, happy to rate Dodl a 4.5/5 based on the LISA account.
There’s some easy wins to make to get it to a 5/5 from me.
(1) Best value for money DIY investment LISA for those of us who want to control our investment choice but with zero commissions
(2) 0.15% account platform fee significantly undercuts the likes of the Roboadvisers like Moneybox and Nutmeg, and competes with Vanguard’s 0.15% platform fee
(3) Simple and no frills investing. You won’t be tempted to check the app too often as it isn’t gamified with live pricing, instant trades or price alerts
(4) Educational. The copy writing is friendly and does try to make investing understandable
(5) Can invest individual US shares from the NYSE and NASDAQ
Improvements I’d like to see:
(1) Benchmark the 0.75% overseas shares FX fee down to 0.50% to compete with fintech rates like Freetrade’s 0.45%
(2) Portfolio graph visual
(3) The option to pay the account fee by direct debit, not just floating available cash
(4) An iOS widget.
(5) Instant trades.
Overall, happy to rate Dodl a 4.5/5 based on the LISA account.
There’s some easy wins to make to get it to a 5/5 from me.
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Response from developer
Thank you for the kind review and the great feedback! We really appreciate it. If there's ever anything else you'd like to see on Dodl just drop us a message in the app and we'll add it to our logs 😊. Just on 3) for paying fees by direct debit, this is something that we're currently looking into although I don't have a timeframe I can give. When an alternative way of paying Dodl's charges becomes available we'll let you know! Thanks again Rob
Easy to understand Investments
I’ve always found investments difficult to understand, a bit like when you have a computer problem and the tech guy speaks a language you don’t understand.
Finally, Dodl has made it simple, easy to understand and takes you through each process step by step.
I love the look and simplicity of the app, a refreshing change.
Finally, Dodl has made it simple, easy to understand and takes you through each process step by step.
I love the look and simplicity of the app, a refreshing change.
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Terms states only for UK citizens
Under Government rules it is indicated:
Who can open an ISA
You must be:
16 or over for a cash ISA
18 or over for a stocks and shares or innovative finance ISA
18 or over but under 40 for a Lifetime ISA
You must also be either:
resident in the UK
a Crown servant (for example diplomatic or overseas civil service) or their spouse or civil partner if you do not live in the UK
However, DODL states in its Terms and Conditions:
You can only open an Account if you are:
an individual aged 18 or over (but under the age of 40 in the case of a Lifetime ISA or under the age of 75 in the case of a Pension);
solely a UK resident for tax purposes, or, in the case of an Investment ISA or Lifetime ISA only, you are a UK resident, Crown employee, or your spouse or civil partner is a Crown employee; and
solely a UK citizen.
I consider that DODL is wrong and against the rules if it continues asking to be solely a UK citizen, instead of UK Resident.
I hope that this is rectified and removed from the terms and conditions, as well as the application process for opening an ISA or LISA with them.
Who can open an ISA
You must be:
16 or over for a cash ISA
18 or over for a stocks and shares or innovative finance ISA
18 or over but under 40 for a Lifetime ISA
You must also be either:
resident in the UK
a Crown servant (for example diplomatic or overseas civil service) or their spouse or civil partner if you do not live in the UK
However, DODL states in its Terms and Conditions:
You can only open an Account if you are:
an individual aged 18 or over (but under the age of 40 in the case of a Lifetime ISA or under the age of 75 in the case of a Pension);
solely a UK resident for tax purposes, or, in the case of an Investment ISA or Lifetime ISA only, you are a UK resident, Crown employee, or your spouse or civil partner is a Crown employee; and
solely a UK citizen.
I consider that DODL is wrong and against the rules if it continues asking to be solely a UK citizen, instead of UK Resident.
I hope that this is rectified and removed from the terms and conditions, as well as the application process for opening an ISA or LISA with them.
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Response from developer
Hi there! Thank you for leaving a review for Dodl. At Dodl we want to provide simple, low costs. So, while the ISA rules only require you to be a UK resident, at Dodl we also require you to be a UK citizen. This reduces the amount of data we need to collect, helping us keep our products as simple and cost effective as possible. That being said we are open to the idea of expanding Dodl to more people in the future so we will take your feedback on board. If you would like to chat to any of our customer support team about this please don’t hesitate to drop us a message or email at hello@dodl.co.uk. Team Dodl