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IG vs Lloyds Bank 2022

StockBrokers.com

Written by StockBrokers.com

November 17, 2022

Is IG better than Lloyds Bank? After scoring the best share dealing accounts across 46 different variables, IG is better than Fineco Bank. IG stands out as a top U.K. broker, thanks largely to its excellent online trading platform. Strong functionality comes with industry-standard commission rates and fees, a huge variety of trading tools, and user-friendly mobile apps.

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Overall RatingIGLloyds BankFineco Bank
Overall Rating5 Stars3.5 Stars4.5 Stars
Commissions & Fees4.5 Stars3 Stars5 Stars
Offering of Investments4.5 Stars4 Stars4 Stars
Mobile Trading4.5 Stars3.5 Stars4 Stars
Platforms & Tools4.5 Stars3 Stars3.5 Stars
Research4 Stars4 Stars3.5 Stars
Ease of Use5 StarsN/A3.5 Stars
Education5 Stars3.5 Stars3.5 Stars
ReviewIG ReviewFineco Bank Review
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InvestmentsIGLloyds BankFineco Bank
ISAYesYesYes
SIPPYesYesNo
Share TradingYesYesYes
CFD TradingYesNoYes
FundsNoYesYes
ETFsYesYesYes
Bonds - CorporateNoYesYes
Bonds - Government (Gilts)NoYesYes
Investment TrustsYesYesNo
Spread BettingYesNoNo
Crypto TradingNoNoNo
Advisor ServicesNoYesNo
Trading FeesIGLloyds BankFineco Bank
Minimum Deposit£0.0£0.0£0.0
Share Trading: 0-9 Deals/ Month£3 to £8£8 to 11£2.95
Share Trading: 10-19 Deals/ Month£3£8£2.95
Share Trading: 20+ Deals/ Month£3£8£2.95
5 trades per year (£30k portfolio)£30-£40£47.5£75
12 trades per year (£30k portfolio)£96£172£35.4
36 trades per year (£30k portfolio)£108£436£106.2
120 trades per year (£30k portfolio)£360£1000£354
3 fund trades per year (£30k portfolio)£24£44.5£14.75
Annual Custody Fee: £0 - £250,000£96 (can reduce by trading)£40 (flat)0.25%
Annual Custody Fee: £250K-£500K£96£400.15%
Annual Custody Fee: £500,000 - £1m£96£400.15%
Annual Custody Fee: £1m and over£96£400.05%
Bonds - Corporate - FeeN/A£11£6.95
Bonds - Government (Gilts) - FeeN/A£11£6.95
ETFs - Fee£8£11£2.95
Investment Trusts - Fee£8£11N/A
Telephone Dealing Fee£40-£50£25N/A
Platforms & ToolsIGLloyds BankFineco Bank
Web PlatformYesYesYes
iPhone AppYesYesYes
Android AppYesYesYes
Stock AlertsYesYesYes
Charting - Indicators / Studies338322
Charting - Drawing Tools19173
Charting - NotesYesYesNo
Charting - Display Corporate EventsYesNoYes
Charting - Stock OverlaysYesNoYes
Charting - Index OverlaysYesNoYes
ResearchIGLloyds BankFineco Bank
Research - SharesYesYesYes
Research - CFDsYesYesNo
Research - FundsYesYesYes
Fund Research - Research ReportsNoNoNo
Research - ETFsYesYesYes
Research - BondsNoYesYes
Portfolio Allocation BreakdownNoYesYes
EducationIGLloyds BankFineco Bank
Has Education - Share TradingYesYesNo
Has Education - FundsYesYesNo
Has Education - RetirementYesYesNo
Client WebinarsYesYesYes
Client Webinars (Archived)YesYesYes
Overall SummaryIGLloyds BankFineco Bank
Overall Rating5 Stars3.5 Stars4.5 Stars
Commissions & Fees4.5 Stars3 Stars5 Stars
Offering of Investments4.5 Stars4 Stars4 Stars
Mobile Trading4.5 Stars3.5 Stars4 Stars
Platforms & Tools4.5 Stars3 Stars3.5 Stars
Research4 Stars4 Stars3.5 Stars
Ease of Use5 StarsN/A3.5 Stars
Education5 Stars3.5 Stars3.5 Stars
ReviewIG ReviewFineco Bank Review
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IG vs Lloyds Bank Comparison

For our 2022 Review, we assessed the best trading platforms in the UK for online share dealing. Let's compare IG 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 IG 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 - IG would cost £30-£40 per year, while Lloyds Bank would cost £47.5 per year.

12 trades per year - IG would cost £96 per year, while Lloyds Bank would cost £172 per year.

36 trades per year - IG would cost £108 per year, while Lloyds Bank would cost £436 per year.

120 trades per year - IG would cost £360 per year, while Lloyds Bank would cost £1000 per year.

3 fund trades per year - IG would cost £24 per year, while Lloyds Bank would cost £44.5 per year.

Which broker offers a wider range of investment options?

IG offers investors access to ISA, SIPP, Share Trading, CFD Trading, ETFs, Investment Trusts and Spread Betting, while Lloyds Bank offers investors access to ISA, SIPP, Share Trading, Funds, ETFs, Bonds - Corporate, Bonds - Government (Gilts), Investment Trusts and Advisor Services, neither have 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 IG is better for research than Fineco Bank. IG offers more research options, including research reports, articles, and analyst ratings.

Which trading platform is better?

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

Overall winner: IG

Read Next: Best UK Trading Platforms 2022


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