To find a right broker for share dealing
, we spent seven months and hundreds of hours of assessing ten different share dealing brokers based in the UK. Here, we will focus on two brokers and compare Hargreaves Lansdown vs Lloyds Bank.
Our comparison begins with the fees charged for dealing shares in the UK and being a client. The two main charges to focus on include the cost to place each trade alongside the monthly, quarterly, or annual management fee charged (varies depending on the type and size of your portfolio). We researched both to provide a single star rating for cost. Lloyds Bank is a better option with a 4.00 star rating over Hargreaves Lansdown's 3.50 star rating.
Account charges aside, we can now compare features and tools investors want in their share dealing accounts. Access to the investments is important, and Lloyds Bank offers clients ISA and SIPP while Hargreaves Lansdown offers ISA, ISA - Junior, SIPP, SIPP - Junior and Spread Betting. Also, some investors require a high-quality charting experience, so the number of drawing tools and total technical indicators made available, as well as stock alerts, are considered. Hargreaves Lansdown and Lloyds Bank offer the same number of charting tools, 1. Hargreaves Lansdown trails Lloyds Bank by 23 total different indicators (for example, moving averages), with Lloyds Bank offering 43 and Hargreaves Lansdown offering 20. Both Hargreaves Lansdown and Lloyds Bank offer basic stock alerts. Lastly, for researching mutual funds while share dealing, being able to view a research report can be helpful. Hargreaves Lansdown makes fund research reports available to clients, while Lloyds Bank does not.
Overall, Hargreaves Lansdown comes out on top with 4.00 stars over Lloyds Bank's 3.00 stars. And, when it comes to individual category awards, Hargreaves Lansdown posted awards Best in Class - Offering of Investments and Best in Class - Customer Service in 2017, while Lloyds Bank found itself with none of these.