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 it comes to investment options, Interactive Brokers and Halifax present distinct offerings tailored for different types of investors in the UK. Interactive Brokers stands out with its comprehensive range of trading options, including shares, cryptocurrencies, ETFs, CFDs, funds, corporate bonds, gilts, and investment trusts. It is suitable for investors seeking a variety of instruments, although it lacks advisor services. Meanwhile, Halifax offers a more traditional selection, allowing clients to trade ETFs, funds, corporate bonds, gilts, and investment trusts, along with advisor services for those who prefer guidance in their investment decisions.
Both Interactive Brokers and Halifax have received admirable ratings from UK.StockBrokers.com, each earning a solid five stars for their investment choices. However, Interactive Brokers is highly ranked as the second-best broker out of 21 for investment choices, whereas Halifax holds the seventh position. This highlights Interactive Brokers' edge in providing a wider array of investment opportunities, appealing particularly to investors looking for versatility in their trading activities.
| 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 | Yes | No |
| Advisor Services | No | Yes |
| Investment Choices |
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Low-cost US and UK shares.
Professional’s Gateway to the World’s Markets.
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.
For UK investors seeking a convenient trading experience on their phones, both Interactive Brokers and Halifax offer mobile apps available for iPhone and Android users. Interactive Brokers stands out with a 5-star rating from UK.StockBrokers.com and is ranked 4th out of 21 brokers for its mobile app, reflecting its strong performance in the mobile trading arena. On the other hand, Halifax provides a functional mobile app, earning a 3.5-star rating and placing 18th in the same ranking. While both brokers offer comprehensive mobile solutions, Interactive Brokers provides a higher-rated experience for those prioritizing top-tier mobile trading capabilities.
Dive deeper: Best Stock Trading Apps UK.
When comparing the educational resources for beginner investors between Interactive Brokers and Halifax, Interactive Brokers stands out with a comprehensive offering. Interactive Brokers provides educational client webinars which are also available on demand, covering vital topics such as share trading, funds, and retirement. In contrast, Halifax does not offer educational webinars or resources on these key investment areas. Reflecting their commitment to investor education, Interactive Brokers earns a solid 4.5-star rating from UK.StockBrokers.com, placing them 8th out of 21 brokers, while Halifax receives a 3.5-star rating, ranking 18th. For UK beginners looking to enhance their investing knowledge, Interactive Brokers clearly emerges as the more resourceful choice.
| 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 |
Interactive Brokers
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Halifax
|
|---|---|---|
| Overall Rating |
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| Charges & Fees |
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| Mobile App |
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| Ease of Use |
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| Education |
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Interactive Brokers offers crypto trading, providing a diversified platform for investors, while Halifax does not support crypto trading, making Interactive Brokers a more comprehensive choice for those interested in cryptocurrency investments.
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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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| Website Gallery (click to expand) |
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| Education Gallery (click to expand) |
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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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