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 IG Group 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. IG Group is a better option with a 4.50 star rating over Lloyds Bank's 4.00 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 supports ISA and SIPP while IG Group supports ISA, SIPP 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. IG Group offers its clients access to 19 charting tools while Lloyds Bank has 1 charting tools, a difference of 18. Lloyds Bank boasts an offering of 43 different indicators (for example, moving averages) compared to IG Group's 26 available indicators. Both IG Group 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. IG Group nor Lloyds Bank offers fund research reports.
Overall, IG Group comes out on top with 4.50 stars over 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.