The broker said defensive, large blue chip companies with a recovery story have proved popular since the beginning of January.

Analysis of the firm’s most traded stocks between 1 January and 24 February shows BT has been the top selling share. The company, which issued a profit warning last month due to an accounting scandal in its Italian business, is paying a dividend yield of 5.5%.

Investors have also been snapping up Lloyds Banking Group and Vodafone, which pay attractive dividend yields of 4.4% and 6.2% respectively.

BP is back in favour with ISA investors.

“As a result of oil prices stabilising and the restructuring the group has made made, ISA investors could be opting for BP as it provides an opportunity for both growth and income,” said Sheridan Admans, investment research manager at The Share Centre.

Mining giant Glencore is the only company on the top five most traded list to be sold more than it was bought since 1 January.

“Investors in general have had a love-hate relationship with Glencore in recent times. As a result of a recovery in the commodities sector, its presence is possibly as a result of investors taking advantage of a sharp recovery in the stock,” said Admans.

In terms of funds, CF Woodford Equity Income, run by star manager Neil Woodford, and Fundsmith Equity, managed by city veteran Terry Smith, continue to prove the most popular with ISA investors.

However, overseas funds feature heavily on the best-selling list in the shape of Jupiter India, Schroder US Mid Cap and Legg Mason IF Japan Equity.

“With the impending enactment of Article 50 drawing ever closer, it’s unsurprising to see the prominence of funds with overseas investment feature in the most popular funds in ISAs list,” said Admans.

 Five most traded stocks in ISAs

1. BT
2. Lloyds Banking
3. Vodafone
4. Glencore
5. BP

 Five most traded funds in ISAs

1. CF Woodford Equity Income
2. Fundsmith Equity
3. Jupiter India
4. Schroder US Mid-Cap
5. Legg Mason IF Japan Equity