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Freetrade vs Halifax 2022

StockBrokers.com

Written by StockBrokers.com

November 17, 2022

Is Freetrade better than Halifax? After scoring the best share dealing accounts across 46 different variables, IG is better than Freetrade. IG stands out as a top U.K. broker, thanks largely to its excellent online trading platform. Strong functionality comes with industry-standard commission rates and fees, a huge variety of trading tools, and user-friendly mobile apps.

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Overall RatingFreetradeHalifaxIG
Overall Rating4.5 Stars3.5 Stars5 Stars
Commissions & Fees5 Stars3 Stars4.5 Stars
Offering of Investments2.5 Stars4 Stars4.5 Stars
Mobile Trading4 Stars3.5 Stars4.5 Stars
Platforms & Tools1 Stars3 Stars4.5 Stars
Research2 Stars4 Stars4 Stars
Ease of Use4.5 StarsN/A5 Stars
Education3 Stars3.5 Stars5 Stars
ReviewFreetrade ReviewIG Review
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InvestmentsFreetradeHalifaxIG
ISAYesYesYes
SIPPYesYesYes
Share TradingYesYesYes
CFD TradingNoNoYes
FundsNoYesNo
ETFsYesYesYes
Bonds - CorporateNoYesNo
Bonds - Government (Gilts)NoYesNo
Investment TrustsYesYesYes
Spread BettingNoNoYes
Crypto TradingNoNoNo
Advisor ServicesNoYesNo
Trading FeesFreetradeHalifaxIG
Minimum Deposit£0.0£0.0£0.0
Share Trading: 0-9 Deals/ Month£0£9.5£3 to £8
Share Trading: 10-19 Deals/ Month£0£9.5£3
Share Trading: 20+ Deals/ Month£0£9.5£3
5 trades per year (£30k portfolio)N/A£83.5£30-£40
12 trades per year (£30k portfolio)£0£150£96
36 trades per year (£30k portfolio)£0£450£108
120 trades per year (£30k portfolio)£0£1500£360
3 fund trades per year (£30k portfolio)N/A£64.5£24
Annual Custody Fee: £0 - £250,000£0£36£96 (can reduce by trading)
Annual Custody Fee: £250K-£500K£0£36£96
Annual Custody Fee: £500,000 - £1m£0£36£96
Annual Custody Fee: £1m and over£0£36£96
Bonds - Corporate - FeeN/A£36N/A
Bonds - Government (Gilts) - FeeN/A£9.5N/A
ETFs - Fee£0£9.5£8
Investment Trusts - Fee£0£9.5£8
Telephone Dealing FeeN/A£25£40-£50
Platforms & ToolsFreetradeHalifaxIG
Web PlatformNoYesYes
iPhone AppYesYesYes
Android AppYesYesYes
Stock AlertsNoNoYes
Charting - Indicators / Studies08333
Charting - Drawing Tools11719
Charting - NotesNoYesYes
Charting - Display Corporate EventsNoNoYes
Charting - Stock OverlaysNoNoYes
Charting - Index OverlaysNoNoYes
ResearchFreetradeHalifaxIG
Research - SharesYesYesYes
Research - CFDsNoYesYes
Research - FundsNoYesYes
Fund Research - Research ReportsNoNoNo
Research - ETFsYesYesYes
Research - BondsNoYesNo
Portfolio Allocation BreakdownNoYesNo
EducationFreetradeHalifaxIG
Has Education - Share TradingYesYesYes
Has Education - FundsNoYesYes
Has Education - RetirementYesYesYes
Client WebinarsNoYesYes
Client Webinars (Archived)NoYesYes
Overall SummaryFreetradeHalifaxIG
Overall Rating4.5 Stars3.5 Stars5 Stars
Commissions & Fees5 Stars3 Stars4.5 Stars
Offering of Investments2.5 Stars4 Stars4.5 Stars
Mobile Trading4 Stars3.5 Stars4.5 Stars
Platforms & Tools1 Stars3 Stars4.5 Stars
Research2 Stars4 Stars4 Stars
Ease of Use4.5 StarsN/A5 Stars
Education3 Stars3.5 Stars5 Stars
ReviewFreetrade ReviewIG Review
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Freetrade vs Halifax Comparison

For our 2022 Review, we assessed the best trading platforms in the UK for online share dealing. Let's compare Freetrade vs Halifax.

Which broker is less expensive?

Alongside the cost per trade, most UK online brokers also charge a monthly, quarterly, or annual management fee, which varies based on the account type and balance. Based on our thorough review, Freetrade offers better pricing than IG for share dealing.

Assuming a £30,000 portfolio size, here are the total annual costs for share dealing with both brokers, given different monthly activity scenarios.

5 trades per year - Freetrade would cost N/A per year, while Halifax would cost £83.5 per year.

12 trades per year - Freetrade would cost £0 per year, while Halifax would cost £150 per year.

36 trades per year - Freetrade would cost £0 per year, while Halifax would cost £450 per year.

120 trades per year - Freetrade would cost £0 per year, while Halifax would cost £1500 per year.

3 fund trades per year - Freetrade would cost N/A per year, while Halifax would cost £64.5 per year.

Which broker offers a wider range of investment options?

Freetrade offers investors access to ISA, SIPP, Share Trading, ETFs and Investment Trusts, while Halifax offers investors access to ISA, SIPP, Share Trading, Funds, ETFs, Bonds - Corporate, Bonds - Government (Gilts), Investment Trusts and Advisor Services, neither have CFD Trading, Spread Betting and Crypto Trading. Investing encompasses a wide variety of asset classes, so finding a broker that offers every investment type you are interested in is important.

Which broker offers better research?

Our testing concluded that IG is better for research than Freetrade. IG offers more research options, including research reports, articles, and analyst ratings.

Which trading platform is better?

To compare the trading platforms of both Freetrade and Halifax, we tested each broker's website, trading platform, trading tools and stock trading app. All features compared, IG offers a better share dealing platform and IG offers a better stock app for mobile trading.

Overall winner: IG

Read Next: Best UK Trading Platforms 2022


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