Written by StockBrokers.com
In this head to head comparison of Interactive Brokers vs Halifax, we will compare the trading platforms, mobile apps, investment options, costs, market research, and more. Let's dive in.
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, Interactive Brokers offers better pricing than Halifax 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 - Interactive Brokers would cost £15 per year, while Halifax would cost £83.50 per year.
12 trades per year - Interactive Brokers would cost £36 per year, while Halifax would cost £150 per year.
36 trades per year - Interactive Brokers would cost £108 per year, while Halifax would cost £378 per year.
120 trades per year - Interactive Brokers would cost £360 per year, while Halifax would cost £1,176 per year.
3 fund trades per year - Interactive Brokers would cost £0 per year, while Halifax would cost £0 per year.
What type of trader are you?
New to the world of investing? See our picks for the Best UK Trading Platforms for Beginners. More experienced traders should read our guide to the Best UK Trading Platforms for Active Traders.
When comparing Interactive Brokers to Halifax for UK investors, both platforms offer a variety of investment options to suit different needs. Interactive Brokers excels in diverse trading choices, allowing clients to trade shares, ETFs, CFDs, funds, and both corporate and government bonds, as well as investment trusts. However, it does not offer crypto trading or spread betting. Halifax matches some of these offerings, including trading of ETFs, funds, and both types of bonds, but it lacks the ability to trade shares, CFDs, or cryptocurrencies. Despite the absence of certain trading options, Halifax provides advisor services, which could be a deciding factor for those seeking guidance.
In terms of rankings and reviews, both brokers receive high praise for their variety of investment products. Interactive Brokers is rated five stars and holds an impressive second place out of 18 brokers according to UK.StockBrokers.com. Halifax similarly earns a five-star rating but comes in at seventh place. Ultimately, the choice between these two brokers depends on the specific trading options and services that align with your investment strategy.
| Feature |
Interactive Brokers
|
Halifax
|
|---|---|---|
| Share Trading | Yes | No |
| CFD Trading | Yes | No |
| ETFs | Yes | Yes |
| Funds | Yes | Yes |
| Bonds - Government (Gilts) | Yes | Yes |
| Investment Trusts | Yes | Yes |
| Spread Betting | No | No |
| Crypto Trading | No | No |
| Advisor Services | No | Yes |
| Investment Choices |
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Professional’s Gateway to the World’s Markets.
Low-cost US and UK shares.
When comparing the trading tools of Interactive Brokers and Halifax, Interactive Brokers stands out with a wide range of features that cater to more detailed and technical chart analysis. Interactive Brokers offers the ability to display corporate events like earnings, splits, and dividends directly on charts, a feature Halifax lacks. Furthermore, traders with Interactive Brokers can utilize 80 drawing tools and 96 technical indicators to enhance their trading strategies, while Halifax provides none. The added functionalities include adding notes and overlays—both index and stock—to charts, which further enhances the customization options available with Interactive Brokers. These features are not available with Halifax.
Both Interactive Brokers and Halifax offer browser-based trading platforms and the capability to create alerts for stock price updates, providing some level of convenience and accessibility to traders. However, it's noteworthy that neither platform currently provides real-time market data. For UK traders who prioritize comprehensive charting tools and customization in their trading activities, Interactive Brokers clearly offers a more feature-rich environment compared to Halifax.
| Feature |
Interactive Brokers
|
Halifax
|
|---|---|---|
| Web Platform | Yes | Yes |
| Stock Alerts | Yes | Yes |
| Charting - Indicators / Studies | 96 | 0 |
| Charting - Drawing Tools | 80 | 0 |
| Charting - Notes | Yes | No |
| Charting - Display Corporate Events | Yes | No |
| Charting - Stock Overlays | Yes | No |
| Charting - Index Overlays | Yes | No |
When comparing Interactive Brokers and Halifax for UK retirement accounts, both platforms provide Individual Savings Accounts (ISAs) and Self-Invested Personal Pensions (SIPPs), catering to investors seeking tax-efficient options. Interactive Brokers stands out with its competitive fees and global market access, appealing to those who value low-cost trading and international diversification. In contrast, Halifax offers a user-friendly experience with straightforward account management, making it an attractive choice for individuals who prefer simplicity and a well-established UK bank. Both brokers serve diverse investor needs by providing essential retirement account options, though the best choice will depend on individual preferences regarding cost, ease of use, and investment reach.
Dive deeper: Best SIPP Providers, Best Stocks and Shares ISA Providers.
When it comes to mobile trading in the UK, Interactive Brokers and Halifax both offer apps for iPhone and Android users. However, Interactive Brokers' mobile app shines brighter, earning a stellar 5-star rating and achieving the #4 spot out of 18 brokers according to UK.StockBrokers.com. Meanwhile, Halifax's mobile app falls short with a 3.5-star rating and ranks last at #18. Whether you're trading on the go with an iPhone or Android device, Interactive Brokers provides a higher-rated and more acclaimed mobile experience compared to Halifax.
Dive deeper: Best Stock Trading Apps UK.
For beginner investors in the UK seeking educational support, Interactive Brokers stands out compared to Halifax. Interactive Brokers offers educational webinars, including archived sessions for convenient on-demand viewing, making it easy for users to learn at their own pace. Covering essential topics such as share trading, funds, and retirement, their resource offerings cater comprehensively to novice investors. In contrast, Halifax does not provide live or archived educational webinars and lacks focused content in these important investment areas. According to UK.StockBrokers.com, Interactive Brokers earns a commendable 4.5 stars for beginner education and holds the 8th position out of 18 brokers. Meanwhile, Halifax scores 3.5 stars and is ranked last, highlighting a significant gap in educational support for new investors.
| Feature |
Interactive Brokers
|
Halifax
|
|---|---|---|
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Education (Share Trading) | Yes | No |
| Education (Funds) | Yes | No |
| Education (Retirement) | Yes | No |
| Education |
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Dive deeper: Best UK Trading Platforms for Beginners.
When comparing market research features offered by Interactive Brokers and Halifax, UK investors will find Interactive Brokers provides a more comprehensive suite of tools. Both platforms offer research capabilities for shares, ETFs, funds, and bonds, with Interactive Brokers additionally supporting research for CFDs which Halifax does not cover. Furthermore, Interactive Brokers stands out by offering detailed research reports for funds—a feature Halifax lacks—and enables users to view their portfolio allocation by asset class, another advantage over Halifax. These additional features can make Interactive Brokers a more appealing choice for those seeking in-depth market insights and a well-rounded research toolkit.
| Feature |
Interactive Brokers
|
Halifax
|
|---|---|---|
| Research - Shares | Yes | Yes |
| Research - CFDs | Yes | No |
| Research - ETFs | Yes | Yes |
| Research - Bonds | Yes | Yes |
| Research - Funds | Yes | Yes |
| Fund Research - Research Reports | Yes | No |
| Portfolio Allocation Breakdown | Yes | No |
Which broker is better overall, Interactive Brokers or Halifax? After collecting more than 900 data points over a 10-week period, we found Interactive Brokers to be a better trading platform overall.
Interactive Brokers is a sophisticated trading platform aimed at confident and institutional-grade investors. For newer investors, Interactive Brokers is more intimidating, though it's worth exploring the platform to see if you could save money or access more investments compared to other brokers.
| Feature |
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Halifax
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Interactive Brokers and Halifax are both online brokers that do not offer cryptocurrency trading services, making them potentially less attractive for investors seeking to trade digital currencies.
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0 of 5| Overall Rating | Interactive Brokers | Halifax | |
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| Review | Interactive Brokers Review | Halifax Review | |
| Winner | check_circle |
| Investments | Interactive Brokers | Halifax | |
|---|---|---|---|
| ISA | Yes | Yes | |
| SIPP | Yes | Yes | |
| Share Trading | Yes | No | |
| CFD Trading | Yes | No | |
| Funds | Yes | Yes | |
| ETFs | Yes | Yes | |
| Bonds - Corporate | Yes | Yes | |
| Bonds - Government (Gilts) | Yes | Yes | |
| Investment Trusts | Yes | Yes | |
| Spread Betting | No | No | |
| Crypto Trading | Yes | No | |
| Advisor Services | No | Yes |
| Trading Fees | Interactive Brokers | Halifax | |
|---|---|---|---|
| Minimum Deposit | £0 | £0 | |
| Share Trading: 0-9 Deals/ Month | £3 | £9.50 | |
| Share Trading: 10-19 Deals/ Month | £3 | £9.50 | |
| Share Trading: 20+ Deals/ Month | £3 | £9.50 | |
| 5 trades per year (£30k portfolio) | £15 | £83.50 | |
| 12 trades per year (£30k portfolio) | £36 | £150 | |
| 36 trades per year (£30k portfolio) | £108 | £378 | |
| 120 trades per year (£30k portfolio) | £360 | £1,176 | |
| 3 fund trades per year (£30k portfolio) | £0 / £14.85 | £64.50 | |
| Annual Custody Fee: £0 - £250,000 | £0 | £36 | |
| Annual Custody Fee: £250K-£500K | £0 | £36 | |
| Annual Custody Fee: £500,000 - £1m | £0 | £36 | |
| Annual Custody Fee: £1m and over | £0 | £36 | |
| Bonds - Corporate - Fee | 0.1% (for <10,000 EUR) 0.025% (for >10,000 EUR) | £9.5 | |
| Bonds - Government (Gilts) - Fee | 0.1% (for <10,000 EUR) 0.025% (for >10,000 EUR) | £9.5 | |
| ETFs - Fee | £3 | £9.5 | |
| Investment Trusts - Fee | N/A | £9.5 | |
| Telephone Dealing Fee | £25 | £25 |
| Broker Screenshots | Interactive Brokers | Halifax | |
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| Platforms & Tools | Interactive Brokers | Halifax | |
|---|---|---|---|
| Web Platform | Yes | Yes | |
| iPhone App | Yes | Yes | |
| Android App | Yes | Yes | |
| Stock Alerts | Yes | Yes | |
| Charting - Indicators / Studies | 96 | 0 | |
| Charting - Drawing Tools | 80 | 0 | |
| Charting - Notes | Yes | No | |
| Charting - Display Corporate Events | Yes | No | |
| Charting - Stock Overlays | Yes | No | |
| Charting - Index Overlays | Yes | No |
| Research | Interactive Brokers | Halifax | |
|---|---|---|---|
| Research - Shares | Yes | Yes | |
| Research - CFDs | Yes | No | |
| Research - Funds | Yes | Yes | |
| Fund Research - Research Reports | Yes | No | |
| Research - ETFs | Yes | Yes | |
| Research - Bonds | Yes | Yes | |
| Portfolio Allocation Breakdown | Yes | No |
| Education | Interactive Brokers | Halifax | |
|---|---|---|---|
| Education (Share Trading) | Yes | No | |
| Education (Funds) | Yes | No | |
| Education (Retirement) | Yes | No | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No |
| Overall Summary | Interactive Brokers | Halifax | |
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| Review | Interactive Brokers Review | Halifax Review | |
| Winner | check_circle |
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