1. Can I cancel or close a portfolio on InvestEngine?
Yes, you can cancel or close a portfolio at any time. Whether you're using a Managed or DIY portfolio, the process is straightforward and can be done from within your account.
2. How do I close a portfolio?
To close a portfolio:
- Log in to your InvestEngine account (on web or app).
- Click the portfolio you wish to delete.
- Select 'Options'
- If the portfolio is empty, you can select 'Delete portfolio'.
- If you still have cash in the account, you will need to withdraw or transfer these funds first.
If the portfolio has been previously funded or traded and therefore cannot be deleted, you can hide it instead:
- Hover over the portfolio name on your Dashboard.
- Click the three dots that appear on the left.
- Select Hide.
To unhide a portfolio:
- Click your Profile icon at the top of your Dashboard.
- Select Hidden portfolios.
- Toggle the switch next to the portfolio you want to unhide.
3. How long does it take to close a portfolio?
Closing a portfolio usually takes 1-3 business days:
- 1 day to sell investments (based on market execution times).
- Up to 2 days to transfer the cash to your bank account.
You’ll see updates in your ‘Activity’ or ‘Transactions’ tab.
4. Can I cancel a pending deposit or investment order?
If your deposit or order hasn’t been processed yet, you may be able to cancel it:
- Go to ‘Activity’ and find the pending item.
- If there’s a ‘Cancel’ option, select it.
If the order has already been placed, it can’t be reversed—but you can sell the investment once it settles.
5. Will closing a portfolio affect my other InvestEngine accounts?
No. Each portfolio is independent. Closing one portfolio (e.g. a DIY General account) won’t affect:
- Your ISA or Business accounts
- Any other active portfolios
Only the selected portfolio will be closed.
6. What happens to my ISA if I close it?
If you close your InvestEngine ISA, your investments will be sold and the cash returned to your linked bank account.
InvestEngine offers a Flexible ISA, which means:
- Any money you withdraw can be paid back in during the same tax year without affecting your ISA allowance (as long as it’s still within the limit).
- For example, if you invest £10,000, withdraw £2,000, and later re-invest it, your remaining allowance for the year is still £10,000.
⚠️ If you transfer or close your ISA entirely, you may lose the ability to repay withdrawn funds for that tax year unless the full closure is reversed or funds are reinvested within the same year.
If you're considering moving your ISA to another provider, we recommend contacting our support team to initiate a formal ISA transfer, which protects your tax-free status.
7. Are there any fees or penalties for closing a portfolio?
No, InvestEngine doesn’t charge exit fees. However:
- You may receive slightly less than expected if the market moves while your investments are being sold.
- Tax may apply on gains in General or Business accounts (not ISAs).
If you're unsure about tax implications, it’s a good idea to speak with a financial adviser.
Need help closing or transferring your portfolio? Our support team is ready to assist via in-app chat or email.