Our UK.StockBrokers.com team spent seven months and hundreds of hours assessing ten different share dealing accounts
for buying shares online in the UK. In total, 124 individual variables were assessed. For this review, we will compare Halifax vs Interactive Investor.
To start this comparison, first, we will take a look at the fees charged for dealing in the UK. It's important to note that not only is there the cost to place the trade, but most share dealing brokers also charge a monthly, quarterly, or annual management fee depending on the type and size of your portfolio. We assessed both to provide a single star rating for cost. Both Halifax and Interactive Investor hold a 4.00 star rating.
Cost aside, we can now turn our focus to popular tools and features investors prefer in the UK. Account access is certainly at the top of the list, and Halifax offers clients ISA and SIPP while Interactive Investor offers ISA, ISA - Junior, SIPP and Spread Betting. Looking at charting, the number of drawing tools and total technical indicators made available are important as well as stock alerts. Halifax boasts an offering of 1 charting tools compared to Interactive Investor's 0 available charting tools. Halifax offers its clients access to 43 different indicators (for example, volume) while Interactive Investor has 11 available indicators, a difference of 32. Both Halifax and Interactive Investor offer basic stock alerts. Finally, for conducting research while share dealing, having access to mutual fund research reports is also helpful. Interactive Investor has fund research reports, Halifax doesn't.
Overall, Interactive Investor boasts 4.50 stars versus Halifax's 3.50 stars. And, when it comes to individual category awards, Interactive Investor posted awards Best in Class - Research and Best in Class - Education in 2017, while Halifax found itself with Best in Class - Customer Service.