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 investment choices between Interactive Brokers and Halifax, both platforms offer a variety of options such as ETFs, funds, corporate bonds, government bonds, and investment trusts. However, Interactive Brokers stands out by providing share trading and CFD trading, features that Halifax does not offer. On the other hand, Halifax includes advisor services, which are not available with Interactive Brokers. Neither broker currently offers crypto trading or spread betting.
In terms of reputation and ratings, both Interactive Brokers and Halifax receive a commendable 5-star rating from UK.StockBrokers.com for their investment choices. However, Interactive Brokers ranks higher, securing the number two spot out of 18 brokers, while Halifax comes in at number seven. This ranking underscores Interactive Brokers' broader range of trading options, making it a potentially more versatile choice for investors seeking diverse opportunities.
| 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 offered by Interactive Brokers and Halifax, significant differences become apparent. Interactive Brokers allows users to display corporate events, such as earnings, splits, and dividends, directly on charts, whereas Halifax does not provide this feature. Traders using Interactive Brokers can utilize an impressive arsenal of 80 drawing tools and 96 technical indicators for charting, but Halifax offers none. Additionally, Interactive Brokers supports the addition of notes, index overlays, and stock overlays on charts, features that are absent in the Halifax platform.
Both brokers offer browser-based trading platforms and the ability to create alerts for stock price updates. However, neither provides real-time market data. Overall, Interactive Brokers emerges as the more robust option for traders seeking comprehensive charting capabilities and customization, while Halifax offers a more basic trading experience.
| 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 online brokers Interactive Brokers and Halifax for retirement accounts, both platforms offer competitive options. Interactive Brokers provides ISA and SIPP accounts, allowing investors to benefit from tax advantages and flexible retirement savings. Similarly, Halifax offers both ISA and SIPP accounts, ensuring a wide range of investment opportunities for retirement planning. Whether you're considering Interactive Brokers or Halifax, both offer solid choices for managing and growing your retirement funds through ISAs and SIPPs.
Dive deeper: Best SIPP Providers, Best Stocks and Shares ISA Providers.
When comparing mobile app offerings from Interactive Brokers and Halifax, both brokers provide apps for iPhone and Android devices, allowing users to trade on the go. Interactive Brokers stands out with a top-tier 5-star rating from UK.StockBrokers.com, ranking them 2nd among 18 brokers for their mobile app. In contrast, Halifax's app receives a modest 3.5-star rating and is ranked 14th out of 18. This suggests that while both brokers have mobile solutions available, Interactive Brokers delivers a more robust and user-friendly experience as per industry reviews.
Dive deeper: Best Stock Trading Apps UK.
For novice investors seeking educational resources, Interactive Brokers stands out with a comprehensive range of options. They provide live and archived webinars, covering crucial topics like share trading, funds, and retirement. Meanwhile, Halifax does not offer webinars or resources on these topics, leaving newcomers potentially lacking guidance. Interactive Brokers's commitment to education is reflected in its 4.5-star beginner education rating from UK.StockBrokers.com, ranking 12th among 18 brokers, while Halifax trails with a 3.5-star rating and a rank of 16th. The educational support from Interactive Brokers clearly surpasses that of Halifax, providing a more robust foundation for those new to investing.
| 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 |
|
|
Dive deeper: Best UK Trading Platforms for Beginners.
When comparing market research features, Interactive Brokers stands out over Halifax, particularly in the breadth of research reports available. Interactive Brokers provides comprehensive research on funds and the unique ability to view portfolio allocation by asset class, features Halifax does not offer. Both platforms perform equally well when it comes to researching shares, ETFs, and funds, ensuring robust insights for investors. However, Interactive Brokers offers additional research capabilities in CFDs, which Halifax lacks, while both brokers provide thorough research on bonds. Overall, Interactive Brokers presents a more extensive suite of market research tools, catering to investors seeking in-depth analysis and portfolio insights.
| 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
|
Halifax
|
|---|---|---|
| Overall Rating |
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| Charges & Fees |
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| Investment Choices |
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| Mobile App |
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| Website |
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| Ease of Use |
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| Education |
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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 | |
|---|---|---|---|
| Website Gallery (click to expand) |
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| Mobile Trading Apps 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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| Education |
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| Review | Interactive Brokers Review | Halifax Review | |
| Winner | check_circle |
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