Hargreaves Lansdown vs Lloyds Bank 2023

Hargreaves Lansdown has a wide range of sophisticated research accompanied by a comprehensive selection of investment options and a user-friendly mobile app. However, pricing is expensive, the charting tools are average and educational resources are only in line with industry standards.

Lloyds Bank can deliver value to the passive fund trader who places a few fund trades each year and requires little research. Outside of this customer mold, Lloyds quickly becomes expensive and can’t provide the same trading tools or research as top UK brokers.

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, Hargreaves Lansdown 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 - Hargreaves Lansdown would cost £59.75 per year, while Lloyds Bank would cost £47.5 per year.

12 trades per year - Hargreaves Lansdown would cost £143.4 per year, while Lloyds Bank would cost £172 per year.

36 trades per year - Hargreaves Lansdown would cost £430.2 per year, while Lloyds Bank would cost £436 per year.

120 trades per year - Hargreaves Lansdown would cost £1074 per year, while Lloyds Bank would cost £1000 per year.

3 fund trades per year - Hargreaves Lansdown would cost 1 per year, while Lloyds Bank would cost 0 per year.

Hargreaves Lansdown requires a minimum deposit of £1, while Lloyds Bank requires a minimum deposit of £0. From our testing we found for accounts between £0 - £250,000 Hargreaves Lansdown charges annual custody fees of 0.45%, while Lloyds Bank charges annual custody fees of £40 (flat).

Both Hargreaves Lansdown 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.

Self-invested personal pensions (SIPPs) and individual savings accounts (ISAs) are tax-advantaged savings accounts that are an important tool for many individual investors. You can read more about how these accounts operate at Gov.UK: Click here for SIPP information and here for ISA information. Our analysis finds that Both Hargreaves Lansdown and Lloyds Bank offer SIPP and ISA accounts.

In our analysis of top brokers for share dealing in the U.K., we research whether each broker offers the ability to trade cash cryptocurrency, such as bitcoin and ethereum, which is still a somewhat rare offering amongst major U.K. brokers. Our review finds that neither Hargreaves Lansdown and Lloyds Bank offer crypto investing.

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

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

Educational offerings are of particular importance to those who are newer to investing, and we examine the availability of several different types of educational materials in our analysis. Our research finds that Hargreaves Lansdown offers traders access to Client Webinars, Has Education - Share Trading, Has Education - Funds and Has Education - Retirement, while Lloyds Bank offers access to Client Webinars, Client Webinars (Archived), Has Education - Share Trading, Has Education - Funds and Has Education - Retirement.