Our UK.StockBrokers.com team spent seven months and hundreds of hours assessing ten different share dealing accounts
for buying shares online in the UK. In total, 124 individual variables were assessed. For this review, we will compare IG Group vs Lloyds Bank.
To start this comparison, first, we will take a look at the fees charged for dealing in the UK. It's important to note that not only is there the cost to place the trade, but most share dealing brokers also charge a monthly, quarterly, or annual management fee depending on the type and size of your portfolio. We assessed both to provide a single star rating for cost. IG Group received a rating of 4.50 stars over Lloyds Bank's 4.00 stars.
Cost aside, we can now turn our focus to popular tools and features investors prefer in the UK. Account access is certainly at the top of the list, and Lloyds Bank provides its clients with ISA and SIPP while IG Group provides clients access to ISA, SIPP and Spread Betting. Looking at charting, the number of drawing tools and total technical indicators made available are important as well as stock alerts. IG Group boasts an offering of 9 charting tools compared to Lloyds Bank's 1 available charting tools. Lloyds Bank offers its clients access to 43 different indicators (for example, volume) while IG Group has 22 available indicators, a difference of 21. Both IG Group and Lloyds Bank offer basic stock alerts. Finally, for conducting research while share dealing, having access to mutual fund research reports is also helpful. Neither IG Group and Lloyds Bank offer fund research reports.
Overall, IG Group boasts 4.50 stars versus Lloyds Bank's 3.00 stars. And, when it comes to individual category awards, IG Group posted awards Best in Class - Platforms & Tools, Best in Class - Mobile Trading and Best in Class - Education in 2017, while Lloyds Bank found itself with none of these.