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.
Your capital is at risk.
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.
Interactive Brokers and Halifax are both strong contenders for UK investors seeking a wide range of trading options. Interactive Brokers stands out with extensive offerings, including share trading, crypto trading, ETFs, CFDs, funds, corporate bonds, gilts, and investment trusts. In contrast, Halifax offers share trading, ETFs, funds, corporate bonds, gilts, and investment trusts, along with advisor services for those who prefer guidance. Despite the difference in available trading options, both brokers receive high praise with top marks from UK.StockBrokers.com, each earning a commendable 5-star rating for investment choices.
When it comes to standing among peers, Interactive Brokers shines brightly, securing the #2 spot out of 21 brokers ranked by UK.StockBrokers.com for investment choices. Halifax also performs well, coming in at an admirable #7. Whether you're an investor looking for diverse trading options or prefer the added support of advisor services, both brokers offer compelling reasons to choose them based on what aligns best with your investment goals.
| Feature |
Interactive Brokers
|
Halifax
|
|---|---|---|
| Share Trading | Yes | |
| CFD Trading | Yes | |
| ETFs | Yes | Yes |
| Funds | Yes | Yes |
| Bonds - Government (Gilts) | Yes | Yes |
| Investment Trusts | Yes | Yes |
| Spread Betting | ||
| Crypto Trading | Yes | |
| Advisor Services | Yes | |
| Investment Choices |
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Low-cost US and UK shares.
Professional’s Gateway to the World’s Markets.
Interactive Brokers stands out significantly compared to Halifax in terms of trading tools available for UK investors. Offering versatility in chart analysis, Interactive Brokers allows users to display corporate events such as earnings, splits, and dividends directly on charts—a feature not accessible with Halifax. Additionally, Interactive Brokers provides an impressive array of 80 drawing tools and 96 technical indicators for in-depth analysis, which starkly contrasts with Halifax’s lack of these features. Interactive Brokers also supports customization through adding notes, index overlays, and stock overlays to charts, giving traders an edge in personalizing their trading experience.
For online trading accessibility, both Interactive Brokers and Halifax offer browser-based platforms, ensuring convenience for users. However, Interactive Brokers further enhances this experience with extensive functionalities like creating alerts for stock price updates. While both platforms offer this alert feature, Interactive Brokers enriches it with additional charting advantages, thus catering to those seeking a comprehensive set of tools for a more informed trading journey.
| 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 | |
| Charting - Display Corporate Events | Yes | |
| Charting - Stock Overlays | Yes | |
| Charting - Index Overlays | Yes |
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.
For beginner investors in the UK, Interactive Brokers and Halifax offer different levels of educational support. Interactive Brokers stands out with a range of resources, including live client webinars that are archived for on-demand viewing. It covers various investment topics like share trading, funds, and retirement. This dedication is reflected in their high rating of 4.5 stars for beginner education and a strong position at 8th out of 21 brokers according to UK.StockBrokers.com. On the other hand, Halifax lacks educational webinars and archival access, and does not provide education on specific investment topics such as share trading or funds. With a lower rating of 3.5 stars and a ranking of 18th, Halifax falls short of Interactive Brokers' offerings in guiding novice investors.
| Feature |
Interactive Brokers
|
Halifax
|
|---|---|---|
| Client Webinars | Yes | |
| Client Webinars (Archived) | Yes | |
| Education (Share Trading) | Yes | |
| Education (Funds) | Yes | |
| Education (Retirement) | Yes | |
| Education |
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|
Dive deeper: Best UK Trading Platforms for Beginners.
When comparing the market research features of Interactive Brokers and Halifax, UK investors will find that Interactive Brokers offers a more extensive range of tools. Interactive Brokers provides research reports for funds and capabilities to view portfolio allocation by asset class, both of which are features absent with Halifax. Both brokers offer research on shares, ETFs, and Funds, but when it comes to CFDs research, Interactive Brokers takes the lead as Halifax does not provide this option. For those interested in bonds, both platforms deliver in-depth research, making them suitable for investors with a diverse interest in financial instruments. Ultimately, Interactive Brokers presents a broader array of research features, giving investors enhanced insight and control over their investment choices.
| Feature |
Interactive Brokers
|
Halifax
|
|---|---|---|
| Research - Shares | Yes | Yes |
| Research - CFDs | Yes | |
| Research - ETFs | Yes | Yes |
| Research - Bonds | Yes | Yes |
| Research - Funds | Yes | Yes |
| Fund Research - Research Reports | Yes | |
| Portfolio Allocation Breakdown | Yes |
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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| Website |
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| Ease of Use |
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When comparing online brokers, Interactive Brokers stands out by offering cryptocurrency trading, a feature that Halifax does not provide.
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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 | ||
| CFD Trading | Yes | ||
| Funds | Yes | Yes | |
| ETFs | Yes | Yes | |
| Bonds - Corporate | Yes | Yes | |
| Bonds - Government (Gilts) | Yes | Yes | |
| Investment Trusts | Yes | Yes | |
| Spread Betting | |||
| Crypto Trading | Yes | ||
| Advisor Services | 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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| 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 | ||
| Charting - Display Corporate Events | Yes | ||
| Charting - Stock Overlays | Yes | ||
| Charting - Index Overlays | Yes |
| Research | Interactive Brokers | Halifax | |
|---|---|---|---|
| Research - Shares | Yes | Yes | |
| Research - CFDs | Yes | ||
| Research - Funds | Yes | Yes | |
| Fund Research - Research Reports | Yes | ||
| Research - ETFs | Yes | Yes | |
| Research - Bonds | Yes | Yes | |
| Portfolio Allocation Breakdown | Yes |
| Education | Interactive Brokers | Halifax | |
|---|---|---|---|
| Education (Share Trading) | Yes | ||
| Education (Funds) | Yes | ||
| Education (Retirement) | Yes | ||
| Client Webinars | Yes | ||
| Client Webinars (Archived) | Yes |
| Overall Summary | Interactive Brokers | Halifax | |
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| Review | Interactive Brokers Review | Halifax Review | |
| Winner | check_circle |
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