Written by StockBrokers.com
In this head to head comparison of Interactive Brokers vs Lloyds Bank, we will compare the trading platforms, mobile apps, investment options, costs, market research, and more. Let's dive in.
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, Interactive Brokers offers better pricing than Lloyds Bank 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 - Interactive Brokers would cost £15 per year, while Lloyds Bank would cost £95 per year.
12 trades per year - Interactive Brokers would cost £36 per year, while Lloyds Bank would cost £40 - £172 per year.
36 trades per year - Interactive Brokers would cost £108 per year, while Lloyds Bank would cost £40 - £328 per year.
120 trades per year - Interactive Brokers would cost £360 per year, while Lloyds Bank would cost £40 / £1,000 per year.
3 fund trades per year - Interactive Brokers would cost £0 per year, while Lloyds Bank would cost £0 per year.
What type of trader are you?
New to the world of investing? See our picks for the Best UK Trading Platforms for Beginners. More experienced traders should read our guide to the Best UK Trading Platforms for Active Traders.
For UK investors seeking a versatile array of investment options, both Interactive Brokers and Lloyds Bank provide compelling choices. Interactive Brokers excels with its extensive offering that includes share trading, cryptocurrency trading, exchange-traded funds (ETFs), contract for difference (CFD) trading, various funds, and bonds. While it doesn’t provide spread betting or advisor services, its comprehensive range earns it a high rating of five stars from UK.StockBrokers.com, placing it as the second-best among 21 brokers for investment choices.
On the other hand, Lloyds Bank presents a more traditional suite of investment options. Investors can engage in share trading, ETFs, funds, bonds, and investment trusts, with the added benefit of advisor services to guide decision-making. However, Lloyds does not offer cryptocurrency or CFD trading. Despite these gaps, it also garners a five-star rating from UK.StockBrokers.com, securing the eighth spot in the rankings. This makes Lloyds a solid choice for those prioritising conventional investment paths with expert advice.
| Feature |
Interactive Brokers
|
Lloyds Bank
|
|---|---|---|
| Share Trading | Yes | Yes |
| CFD Trading | Yes | No |
| ETFs | Yes | Yes |
| Funds | Yes | Yes |
| Bonds - Government (Gilts) | Yes | Yes |
| Investment Trusts | Yes | Yes |
| Spread Betting | No | No |
| Crypto Trading | Yes | No |
| Advisor Services | No | Yes |
| Investment Choices |
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Low-cost US and UK shares.
Professional’s Gateway to the World’s Markets.
When evaluating trading tools, Interactive Brokers stands out compared to Lloyds Bank for UK investors. Interactive Brokers allows users to display essential corporate events like earnings, splits, and dividends directly on their charts, a feature absent in Lloyds Bank. Moreover, Interactive Brokers provides a rich selection of 80 drawing tools and 96 technical indicators for more detailed analysis, whereas Lloyds Bank offers none in this regard. Adding notes, index overlays, and stock overlays to charts is also possible with Interactive Brokers, unlike Lloyds Bank, which lacks these capabilities.
Both Interactive Brokers and Lloyds Bank offer a browser-based trading platform and can create alerts for stock price updates. However, neither platform provides real-time market data, which is a critical consideration for some traders. Overall, for those prioritizing advanced charting features and customization, Interactive Brokers presents a more comprehensive package compared to Lloyds Bank's offering.
| Feature |
Interactive Brokers
|
Lloyds Bank
|
|---|---|---|
| Web Platform | Yes | Yes |
| Stock Alerts | Yes | Yes |
| Charting - Indicators / Studies | 96 | 0 |
| Charting - Drawing Tools | 80 | 0 |
| Charting - Notes | Yes | No |
| Charting - Display Corporate Events | Yes | No |
| Charting - Stock Overlays | Yes | No |
| Charting - Index Overlays | Yes | No |
For UK residents looking to compare retirement account options, both Interactive Brokers and Lloyds Bank offer Individual Savings Accounts (ISAs) and Self-Invested Personal Pensions (SIPPs). Interactive Brokers provides a versatile platform for those interested in managing their investments with an array of options for both ISAs and SIPPs. Similarly, Lloyds Bank also offers comprehensive ISA and SIPP accounts, catering to individuals seeking the stability of a traditional banking institution. Each provider presents valuable options for retirement planning, allowing you to choose according to your investment preferences and comfort level with online vs. traditional banking services.
Dive deeper: Best SIPP Providers, Best Stocks and Shares ISA Providers.
When it comes to mobile apps, both Interactive Brokers and Lloyds Bank offer options for iPhone and Android users, but they differ significantly in user ratings and rankings. Interactive Brokers is highly praised, with a 5-star rating from UK.StockBrokers.com, placing it fourth out of 21 brokers in the mobile app category. In contrast, Lloyds Bank's app receives a more modest 3.5-star rating, ranking it 17th among its peers. Whether you're prioritizing a top-rated trading experience or a bank-focused app, knowing these differences can aid in making an informed choice.
Dive deeper: Best Stock Trading Apps UK.
For UK-based beginner investors seeking educational resources, Interactive Brokers clearly stands out compared to Lloyds Bank. Interactive Brokers offers a comprehensive suite of educational client webinars, which can also be accessed on demand, covering essential topics like share trading, funds, and retirement planning. In contrast, Lloyds Bank does not provide educational webinars or content specific to these key areas. Reflecting their strong commitment to investor education, Interactive Brokers holds a 4.5-star rating from UK.StockBrokers.com, placing them 8th out of 21 brokers in their beginner education rankings. Meanwhile, Lloyds Bank, with a 4-star rating, ranks 14th, indicating a less extensive educational offering for those new to investing.
| Feature |
Interactive Brokers
|
Lloyds Bank
|
|---|---|---|
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Education (Share Trading) | Yes | No |
| Education (Funds) | Yes | No |
| Education (Retirement) | Yes | No |
| Education |
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Dive deeper: Best UK Trading Platforms for Beginners.
When comparing the market research features of Interactive Brokers and Lloyds Bank, UK investors will find that both platforms provide research reports for funds, shares, ETFs, and bonds. However, Interactive Brokers goes a step further by offering additional insights like the ability to view portfolio allocation by asset class, which is not available with Lloyds Bank. Moreover, while both offer comprehensive support for funds, Interactive Brokers also provides detailed CFDs research, a resource absent from Lloyds Bank's offerings. This makes Interactive Brokers a more versatile option for investors looking to diversify their research tools.
| Feature |
Interactive Brokers
|
Lloyds Bank
|
|---|---|---|
| Research - Shares | Yes | Yes |
| Research - CFDs | Yes | No |
| Research - ETFs | Yes | Yes |
| Research - Bonds | Yes | Yes |
| Research - Funds | Yes | Yes |
| Fund Research - Research Reports | Yes | Yes |
| Portfolio Allocation Breakdown | Yes | No |
Which broker is better overall, Interactive Brokers or Lloyds Bank? After collecting more than 900 data points over a 10-week period, we found Interactive Brokers to be a better trading platform overall.
Interactive Brokers is a sophisticated trading platform aimed at confident and institutional-grade investors. For newer investors, Interactive Brokers is more intimidating, though it's worth exploring the platform to see if you could save money or access more investments compared to other brokers.
| Feature |
Interactive Brokers
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Lloyds Bank
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When comparing online brokerages, Interactive Brokers provides the advantage of crypto trading, which is not offered by Lloyds Bank, making it a significant consideration for investors interested in diversifying their portfolio with cryptocurrencies.
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0 of 5| Overall Rating | Interactive Brokers | Lloyds Bank | |
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| Review | Interactive Brokers Review | Lloyds Bank Review | |
| Winner | check_circle |
| Investments | Interactive Brokers | Lloyds Bank | |
|---|---|---|---|
| ISA | Yes | Yes | |
| SIPP | Yes | Yes | |
| Share Trading | Yes | Yes | |
| CFD Trading | Yes | No | |
| Funds | Yes | Yes | |
| ETFs | Yes | Yes | |
| Bonds - Corporate | Yes | Yes | |
| Bonds - Government (Gilts) | Yes | Yes | |
| Investment Trusts | Yes | Yes | |
| Spread Betting | No | No | |
| Crypto Trading | Yes | No | |
| Advisor Services | No | Yes |
| Trading Fees | Interactive Brokers | Lloyds Bank | |
|---|---|---|---|
| Minimum Deposit | £0 | £0 | |
| Share Trading: 0-9 Deals/ Month | £3 | £8 - £11 | |
| Share Trading: 10-19 Deals/ Month | £3 | £8 | |
| Share Trading: 20+ Deals/ Month | £3 | £8 | |
| 5 trades per year (£30k portfolio) | £15 | £95 | |
| 12 trades per year (£30k portfolio) | £36 | £40 - £172 | |
| 36 trades per year (£30k portfolio) | £108 | £40 - £328 | |
| 120 trades per year (£30k portfolio) | £360 | £40 / £1,000 | |
| 3 fund trades per year (£30k portfolio) | £0 / £14.85 | £44.50 | |
| Annual Custody Fee: £0 - £250,000 | £0 | £40 | |
| Annual Custody Fee: £250K-£500K | £0 | £40 | |
| Annual Custody Fee: £500,000 - £1m | £0 | £40 | |
| Annual Custody Fee: £1m and over | £0 | £40 | |
| Bonds - Corporate - Fee | 0.1% (for <10,000 EUR) 0.025% (for >10,000 EUR) | £8 - £11 | |
| Bonds - Government (Gilts) - Fee | 0.1% (for <10,000 EUR) 0.025% (for >10,000 EUR) | £8 - £11 | |
| ETFs - Fee | £3 | £8 - £11 | |
| Investment Trusts - Fee | N/A | £8 - £11 | |
| Telephone Dealing Fee | £25 | £35 |
| Broker Screenshots | Interactive Brokers | Lloyds Bank | |
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| Platforms & Tools | Interactive Brokers | Lloyds Bank | |
|---|---|---|---|
| Web Platform | Yes | Yes | |
| iPhone App | Yes | Yes | |
| Android App | Yes | Yes | |
| Stock Alerts | Yes | Yes | |
| Charting - Indicators / Studies | 96 | 0 | |
| Charting - Drawing Tools | 80 | 0 | |
| Charting - Notes | Yes | No | |
| Charting - Display Corporate Events | Yes | No | |
| Charting - Stock Overlays | Yes | No | |
| Charting - Index Overlays | Yes | No |
| Research | Interactive Brokers | Lloyds Bank | |
|---|---|---|---|
| Research - Shares | Yes | Yes | |
| Research - CFDs | Yes | No | |
| Research - Funds | Yes | Yes | |
| Fund Research - Research Reports | Yes | Yes | |
| Research - ETFs | Yes | Yes | |
| Research - Bonds | Yes | Yes | |
| Portfolio Allocation Breakdown | Yes | No |
| Education | Interactive Brokers | Lloyds Bank | |
|---|---|---|---|
| Education (Share Trading) | Yes | No | |
| Education (Funds) | Yes | No | |
| Education (Retirement) | Yes | No | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No |
| Overall Summary | Interactive Brokers | Lloyds Bank | |
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| Review | Interactive Brokers Review | Lloyds Bank Review | |
| Winner | check_circle |
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