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 Saxo Capital Markets.
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. Both Hargreaves Lansdown and Saxo Capital Markets are rated 3.50 stars.
Account charges aside, we can now compare features and tools investors want in their share dealing accounts. Access to the investments is important, and Saxo Capital Markets 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. Saxo Capital Markets offers its clients access to 17 charting tools while Hargreaves Lansdown has 1 charting tools, a difference of 16. Hargreaves Lansdown trails Saxo Capital Markets by 28 total different indicators (for example, moving averages), with Saxo Capital Markets offering 48 and Hargreaves Lansdown offering 20. Hargreaves Lansdown alongside Saxo Capital Markets 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 Saxo Capital Markets does not.
Overall, Saxo Capital Markets boasts 4.50 stars versus Hargreaves Lansdown's 4.00 stars. And, when it comes to individual category awards, Saxo Capital Markets posted awards Best in Class - Platforms & Tools and Best in Class - Mobile Trading in 2017, while Hargreaves Lansdown found itself with Best in Class - Offering of Investments and Best in Class - Customer Service.