Our UK.StockBrokers.com team spent seven months and hundreds of hours assessing ten different share dealing accounts
for buying shares online in the UK. In total, 124 individual variables were assessed. For this review, we will compare Alliance Trust Savings vs Lloyds Bank.
To start this comparison, first, we will take a look at the fees charged for dealing in the UK. It's important to note that not only is there the cost to place the trade, but most share dealing brokers also charge a monthly, quarterly, or annual management fee depending on the type and size of your portfolio. We assessed both to provide a single star rating for cost. Both Alliance Trust Savings and Lloyds Bank hold a 4.00 star rating.
Cost aside, we can now turn our focus to popular tools and features investors prefer in the UK. Account access is certainly at the top of the list, and Lloyds Bank supports ISA and SIPP while Alliance Trust Savings supports ISA, ISA - Junior, SIPP and SIPP - Junior. Looking at charting, the number of drawing tools and total technical indicators made available are important as well as stock alerts. Alliance Trust Savings and Lloyds Bank offer the same number of charting tools, 1. Alliance Trust Savings trails Lloyds Bank by 33 total different indicators (for example, moving averages), with Lloyds Bank offering 43 and Alliance Trust Savings offering 10. Lloyds Bank has basic stock alerts, Alliance Trust Savings doesn't. Finally, for conducting research while share dealing, having access to mutual fund research reports is also helpful. Alliance Trust Savings offers fund research reports while Lloyds Bank does not.
Overall, Alliance Trust Savings comes out on top with 3.50 stars over Lloyds Bank's 3.00 stars. And, when it comes to individual category awards, Alliance Trust Savings finished with awards Best in Class - Customer Service in 2017, while Lloyds Bank came up with none of these.