A compact electrostatic trap has been designed and installed as part of the recent upgrades to the IGISOL IV facility. The ConeTrap provides an in vacuo optical pumping site for low energy (800 eV) ionic ensembles available for interaction periods of 10-100 ms. At present, 6.7(3) % of injected mass A=98 ions can be trapped, stored for 5 ms, extracted and transported to a laser-ion interaction region. This fraction represents those ions for which no perturbation to total energy or energy spread is observed. Proposed enhancements to the trap are designed to improve the trapping efficiency by up to a factor of 5. Differential pumping and reduction in background pressure below the present 10−6 mbar will extend storage times beyond 100 ms.