Written by StockBrokers.com
In this head to head comparison of Lloyds Bank 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, Halifax offers better pricing than Lloyds Bank 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 - Lloyds Bank would cost £95 per year, while Halifax would cost £83.50 per year.
12 trades per year - Lloyds Bank would cost £40 - £172 per year, while Halifax would cost £150 per year.
36 trades per year - Lloyds Bank would cost £40 - £328 per year, while Halifax would cost £378 per year.
120 trades per year - Lloyds Bank would cost £40 / £1,000 per year, while Halifax would cost £1,176 per year.
3 fund trades per year - Lloyds Bank 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 the online brokerage services of Lloyds Bank and Halifax, both platforms offer a comprehensive range of investment choices, although there are some differences to note. Lloyds Bank distinguishes itself by providing share trading, a service not available through Halifax. However, neither broker offers options like crypto trading, spread betting, or CFD trading. Both platforms equally support trading in ETFs, funds, corporate bonds, government bonds (gilts), and investment trusts. They also provide advisor services, ensuring a well-rounded suite of investment options for clients.
Despite their similarities, it's interesting to note their rankings by UK.StockBrokers.com: Halifax narrowly edges out Lloyds Bank, ranking 7th out of 18 brokers compared to Lloyds' 8th position for investment choices. Both are rated an impressive 5 stars for the selection of investment options. This illustrates that both brokers offer strong choices for investors, with the additional feature of share trading potentially tipping the scales in favor of Lloyds Bank for those who are interested in this particular service.
| Feature |
Lloyds Bank
|
Halifax
|
|---|---|---|
| Share Trading | Yes | No |
| CFD Trading | No | 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 | Yes | Yes |
| Investment Choices |
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Professional’s Gateway to the World’s Markets.
Low-cost US and UK shares.
Lloyds Bank and Halifax, both prominent online brokers, offer fundamental trading tools, yet share certain limitations. Neither broker provides the ability to display corporate events such as earnings, splits, or dividends on charts, nor do they offer any drawing tools, technical indicators, or the option to add notes to charts. Additionally, both platforms lack the capability to incorporate index or stock overlays within their charting features.
On the bright side, both Lloyds Bank and Halifax offer a browser-based trading platform, making it accessible for users to manage trades online. They also support the creation of alerts for stock price updates, ensuring traders stay informed. However, potential investors should note that neither broker offers real-time market data, which might be a deciding factor for those who require up-to-the-minute information.
| Feature |
Lloyds Bank
|
Halifax
|
|---|---|---|
| Web Platform | Yes | Yes |
| Stock Alerts | Yes | Yes |
| Charting - Indicators / Studies | 0 | 0 |
| Charting - Drawing Tools | 0 | 0 |
| Charting - Notes | No | No |
| Charting - Display Corporate Events | No | No |
| Charting - Stock Overlays | No | No |
| Charting - Index Overlays | No | No |
When comparing online brokers Lloyds Bank and Halifax, both offer Individual Savings Accounts (ISAs) and Self-Invested Personal Pensions (SIPPs), making them solid choices for individuals looking to save for retirement. Their availability of both ISA and SIPP options provides flexibility whether you're interested in tax-efficient savings or more hands-on management of your retirement funds. This similarity ensures that either broker can cater to your retirement planning needs, allowing you to focus on building a secure future with convenient and accessible investment choices.
Dive deeper: Best SIPP Providers, Best Stocks and Shares ISA Providers.
Comparing Lloyds Bank and Halifax shows that both online brokers provide robust mobile app solutions for iPhone and Android users, ensuring convenience and flexibility in managing investments on-the-go. According to UK.StockBrokers.com, both Lloyds Bank and Halifax's mobile apps receive a user-friendly rating of 3.5 out of 5 stars, reflecting a satisfactory performance from each platform. When ranked amongst 18 brokers for their mobile app offerings, Lloyds Bank takes the 15th spot, while Halifax is slightly ahead at 14th place. This indicates that while both apps offer similar functionality, Halifax edges out marginally in terms of user preference and experience.
Dive deeper: Best Stock Trading Apps UK.
When it comes to educational resources for beginner investors, neither Lloyds Bank nor Halifax provides client webinars or archived sessions on demand. Both banks also lack educational content specifically for share trading, funds, or retirement. Despite these limitations, Lloyds Bank is slightly ahead in ratings, receiving 4 stars from UK.StockBrokers.com for its beginner education, placing it 15th out of 18 brokers. On the other hand, Halifax stands with a rating of 3.5 stars, ranked 16th. Although both brokers are closely matched in terms of educational offerings, Lloyds Bank edges out as a marginally better option for novice investors seeking guidance.
| Feature |
Lloyds Bank
|
Halifax
|
|---|---|---|
| Client Webinars | No | No |
| Client Webinars (Archived) | No | No |
| Education (Share Trading) | No | No |
| Education (Funds) | No | No |
| Education (Retirement) | No | No |
| Education |
|
|
Dive deeper: Best UK Trading Platforms for Beginners.
When comparing the online brokers Lloyds Bank and Halifax in terms of market research features, a clear distinction can be observed. Both platforms provide valuable research tools for shares, ETFs, funds, and bonds, enabling investors to make informed decisions. However, neither Lloyds Bank nor Halifax offers research options for CFDs or insights into portfolio allocation by asset class. A unique advantage of Lloyds Bank is its provision of research reports for funds, a benefit not available with Halifax. Therefore, if fund research is a priority, Lloyds Bank may be a more suitable choice for investors seeking comprehensive research resources.
| Feature |
Lloyds Bank
|
Halifax
|
|---|---|---|
| Research - Shares | Yes | Yes |
| Research - CFDs | No | No |
| Research - ETFs | Yes | Yes |
| Research - Bonds | Yes | Yes |
| Research - Funds | Yes | Yes |
| Fund Research - Research Reports | Yes | No |
| Portfolio Allocation Breakdown | No | No |
Which broker is better overall, Lloyds Bank or Halifax? After collecting more than 900 data points over a 10-week period, we found Lloyds Bank to be a better trading platform overall.
It's easy for current Lloyds Bank customers to open a Lloyds Bank Share Dealing investment account. But there are other platforms that are easier, more comprehensive and cheaper to use, including Halifax, which is also owned by Lloyds Banking Group.
| Feature |
Lloyds Bank
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Halifax
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|---|---|---|
| Overall Rating |
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| Mobile App |
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| Website |
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| Ease of Use |
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Both Lloyds Bank and Halifax online brokerage platforms do not offer crypto trading options, ensuring a straightforward approach for investors focused on traditional financial products.
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0 of 5| Overall Rating | Lloyds Bank | Halifax | |
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| Review | Lloyds Bank Review | Halifax Review | |
| Winner | check_circle |
| Investments | Lloyds Bank | Halifax | |
|---|---|---|---|
| ISA | Yes | Yes | |
| SIPP | Yes | Yes | |
| Share Trading | Yes | No | |
| CFD Trading | No | 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 | No | No | |
| Advisor Services | Yes | Yes |
| Trading Fees | Lloyds Bank | Halifax | |
|---|---|---|---|
| Minimum Deposit | £0 | £0 | |
| Share Trading: 0-9 Deals/ Month | £8, £10, £11 | £9.50 | |
| Share Trading: 10-19 Deals/ Month | £8 | £9.50 | |
| Share Trading: 20+ Deals/ Month | £8 | £9.50 | |
| 5 trades per year (£30k portfolio) | £95 | £83.50 | |
| 12 trades per year (£30k portfolio) | £40 - £172 | £150 | |
| 36 trades per year (£30k portfolio) | £40 - £328 | £378 | |
| 120 trades per year (£30k portfolio) | £40 / £1,000 | £1,176 | |
| 3 fund trades per year (£30k portfolio) | £44.50 | £64.50 | |
| Annual Custody Fee: £0 - £250,000 | £40 | £36 | |
| Annual Custody Fee: £250K-£500K | £40 | £36 | |
| Annual Custody Fee: £500,000 - £1m | £40 | £36 | |
| Annual Custody Fee: £1m and over | £40 | £36 | |
| Bonds - Corporate - Fee | £8 - £11 | £9.5 | |
| Bonds - Government (Gilts) - Fee | £8 - £11 | £9.5 | |
| ETFs - Fee | £9.5 | ||
| Investment Trusts - Fee | £9.5 | ||
| Telephone Dealing Fee | £35 | £25 |
| Broker Screenshots | Lloyds Bank | Halifax | |
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| 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 | Lloyds Bank | Halifax | |
|---|---|---|---|
| Web Platform | Yes | Yes | |
| iPhone App | Yes | Yes | |
| Android App | Yes | Yes | |
| Stock Alerts | Yes | Yes | |
| Charting - Indicators / Studies | 0 | 0 | |
| Charting - Drawing Tools | 0 | 0 | |
| Charting - Notes | No | No | |
| Charting - Display Corporate Events | No | No | |
| Charting - Stock Overlays | No | No | |
| Charting - Index Overlays | No | No |
| Research | Lloyds Bank | Halifax | |
|---|---|---|---|
| Research - Shares | Yes | Yes | |
| Research - CFDs | No | No | |
| Research - Funds | Yes | Yes | |
| Fund Research - Research Reports | Yes | No | |
| Research - ETFs | Yes | Yes | |
| Research - Bonds | Yes | Yes | |
| Portfolio Allocation Breakdown | No | No |
| Education | Lloyds Bank | Halifax | |
|---|---|---|---|
| Education (Share Trading) | No | No | |
| Education (Funds) | No | No | |
| Education (Retirement) | No | No | |
| Client Webinars | No | No | |
| Client Webinars (Archived) | No | No |
| Overall Summary | Lloyds Bank | Halifax | |
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| Education |
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| Review | Lloyds Bank Review | Halifax Review | |
| Winner | check_circle |
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