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Both are app-first, both are aimed at people early in their investing, and both offer a Lifetime ISA. The difference is who picks the investments.
| Moneybox | Nutmeg | |
|---|---|---|
| Platform fee | £1/mo + 0.45% | 0.75% |
| UK dealing | — | Free |
| US dealing | Free | — |
| FX fee | 0.45% | — |
| SIPP | Yes | No |
| US shares | Yes | No |
| Funds | Yes | No |
| Fractional shares | Yes | — |
Moneybox lets you choose; Nutmeg chooses for you. That single distinction is the decision, and the difference in ongoing charge follows from it rather than being a separate consideration — managed portfolios cost more because someone is managing them. Moneybox also offers a SIPP, which Nutmeg doesn't, so it's the one that can hold the whole picture. If you actively don't want to make investment decisions, the higher charge is what that's worth to you.