To find a right broker for share dealing
, we spent seven months and hundreds of hours of assessing ten different share dealing brokers based in the UK. Here, we will focus on two brokers and compare DEGIRO vs Lloyds Bank.
Our comparison begins with the fees charged for dealing shares in the UK and being a client. The two main charges to focus on include the cost to place each trade alongside the monthly, quarterly, or annual management fee charged (varies depending on the type and size of your portfolio). We researched both to provide a single star rating for cost. DEGIRO received a rating of 4.50 stars over Lloyds Bank's 4.00 stars.
Account charges aside, we can now compare features and tools investors want in their share dealing accounts. Access to the investments is important, and Lloyds Bank supports ISA and SIPP while DEGIRO supports none of these. Also, some investors require a high-quality charting experience, so the number of drawing tools and total technical indicators made available, as well as stock alerts, are considered. DEGIRO trails Lloyds Bank by 1 total charting tools, with Lloyds Bank offering 1 and DEGIRO offering 0. Lloyds Bank offers its clients access to 43 different indicators (for example, volume) while DEGIRO has 23 available indicators, a difference of 20. Lloyds Bank offers basic stock alerts while DEGIRO does not. Lastly, for researching mutual funds while share dealing, being able to view a research report can be helpful. DEGIRO nor Lloyds Bank offers fund research reports.
Overall, DEGIRO boasts 3.50 stars versus Lloyds Bank's 3.00 stars. And, when it comes to individual category awards, unfortunately, neither DEGIRO nor Lloyds Bank received awards Best in Class - Offering of Investments, Best in Class - Platforms & Tools, Best in Class - Research, Best in Class - Customer Service, Best in Class - Mobile Trading and Best in Class - Education.