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Halifax vs Lloyds Bank 2022

StockBrokers.com

Written by StockBrokers.com

November 17, 2022

Is Halifax better than Lloyds Bank? After scoring the best share dealing accounts across 46 different variables, Fineco Bank is better than Halifax. For the price-conscious trader, FinecoBank is a solid share dealing option with a broad range of investment options; but educational materials and research reports are lacking.

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Overall RatingHalifaxLloyds BankFineco Bank
Overall Rating3.5 Stars3.5 Stars4.5 Stars
Commissions & Fees3 Stars3 Stars5 Stars
Offering of Investments4 Stars4 Stars4 Stars
Mobile Trading3.5 Stars3.5 Stars4 Stars
Platforms & Tools3 Stars3 Stars3.5 Stars
Research4 Stars4 Stars3.5 Stars
Ease of UseN/AN/A3.5 Stars
Education3.5 Stars3.5 Stars3.5 Stars
ReviewFineco Bank Review
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InvestmentsHalifaxLloyds BankFineco Bank
ISAYesYesYes
SIPPYesYesNo
Share TradingYesYesYes
CFD TradingNoNoYes
FundsYesYesYes
ETFsYesYesYes
Bonds - CorporateYesYesYes
Bonds - Government (Gilts)YesYesYes
Investment TrustsYesYesNo
Spread BettingNoNoNo
Crypto TradingNoNoNo
Advisor ServicesYesYesNo
Trading FeesHalifaxLloyds BankFineco Bank
Minimum Deposit£0.0£0.0£0.0
Share Trading: 0-9 Deals/ Month£9.5£8 to 11£2.95
Share Trading: 10-19 Deals/ Month£9.5£8£2.95
Share Trading: 20+ Deals/ Month£9.5£8£2.95
5 trades per year (£30k portfolio)£83.5£47.5£75
12 trades per year (£30k portfolio)£150£172£35.4
36 trades per year (£30k portfolio)£450£436£106.2
120 trades per year (£30k portfolio)£1500£1000£354
3 fund trades per year (£30k portfolio)£64.5£44.5£14.75
Annual Custody Fee: £0 - £250,000£36£40 (flat)0.25%
Annual Custody Fee: £250K-£500K£36£400.15%
Annual Custody Fee: £500,000 - £1m£36£400.15%
Annual Custody Fee: £1m and over£36£400.05%
Bonds - Corporate - Fee£36£11£6.95
Bonds - Government (Gilts) - Fee£9.5£11£6.95
ETFs - Fee£9.5£11£2.95
Investment Trusts - Fee£9.5£11N/A
Telephone Dealing Fee£25£25N/A
Platforms & ToolsHalifaxLloyds BankFineco Bank
Web PlatformYesYesYes
iPhone AppYesYesYes
Android AppYesYesYes
Stock AlertsNoYesYes
Charting - Indicators / Studies838322
Charting - Drawing Tools17173
Charting - NotesYesYesNo
Charting - Display Corporate EventsNoNoYes
Charting - Stock OverlaysNoNoYes
Charting - Index OverlaysNoNoYes
ResearchHalifaxLloyds BankFineco Bank
Research - SharesYesYesYes
Research - CFDsYesYesNo
Research - FundsYesYesYes
Fund Research - Research ReportsNoNoNo
Research - ETFsYesYesYes
Research - BondsYesYesYes
Portfolio Allocation BreakdownYesYesYes
EducationHalifaxLloyds BankFineco Bank
Has Education - Share TradingYesYesNo
Has Education - FundsYesYesNo
Has Education - RetirementYesYesNo
Client WebinarsYesYesYes
Client Webinars (Archived)YesYesYes
Overall SummaryHalifaxLloyds BankFineco Bank
Overall Rating3.5 Stars3.5 Stars4.5 Stars
Commissions & Fees3 Stars3 Stars5 Stars
Offering of Investments4 Stars4 Stars4 Stars
Mobile Trading3.5 Stars3.5 Stars4 Stars
Platforms & Tools3 Stars3 Stars3.5 Stars
Research4 Stars4 Stars3.5 Stars
Ease of UseN/AN/A3.5 Stars
Education3.5 Stars3.5 Stars3.5 Stars
ReviewFineco Bank Review
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Halifax vs Lloyds Bank Comparison

For our 2022 Review, we assessed the best trading platforms in the UK for online share dealing. Let's compare Halifax vs Lloyds Bank.

Which broker is less expensive?

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, Fineco Bank 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 - Halifax would cost £83.5 per year, while Lloyds Bank would cost £47.5 per year.

12 trades per year - Halifax would cost £150 per year, while Lloyds Bank would cost £172 per year.

36 trades per year - Halifax would cost £450 per year, while Lloyds Bank would cost £436 per year.

120 trades per year - Halifax would cost £1500 per year, while Lloyds Bank would cost £1000 per year.

3 fund trades per year - Halifax would cost £64.5 per year, while Lloyds Bank would cost £44.5 per year.

Which broker offers a wider range of investment options?

Both Halifax and Lloyds Bank offer ISA, SIPP, Share Trading, Funds, ETFs, Bonds - Corporate, Bonds - Government (Gilts), Investment Trusts and Advisor Services, neither have CFD Trading, Spread Betting and Crypto Trading. Investing encompasses a wide variety of asset classes, so finding a broker that offers every investment type you are interested in is important.

Which broker offers better research?

Our testing concluded that Fineco Bank is better for research than Halifax. Fineco Bank offers more research options, including research reports, articles, and analyst ratings.

Which trading platform is better?

To compare the trading platforms of both Halifax and Lloyds Bank, we tested each broker's website, trading platform, trading tools and stock trading app. All features compared, Fineco Bank offers a better share dealing platform and Fineco Bank offers a better stock app for mobile trading.

Overall winner: Fineco Bank

Read Next: Best UK Trading Platforms 2022


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