To find a right broker for share dealing
, we spent seven months and hundreds of hours of assessing 12 different share dealing brokers based in the UK. Here, we will focus on two brokers and compare Interactive Investor 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. Both Interactive Investor and Lloyds Bank hold a 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 Interactive Investor supports ISA, ISA - Junior, 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. Lloyds Bank offers its clients access to 1 charting tools while Interactive Investor has 0 charting tools, a difference of 1. Lloyds Bank offers its clients access to 43 different indicators (for example, volume) while Interactive Investor has 11 available indicators, a difference of 32. Interactive Investor alongside Lloyds Bank offer basic stock alerts. Lastly, for researching mutual funds while share dealing, being able to view a research report can be helpful. Interactive Investor makes fund research reports available to clients, while Lloyds Bank does not.
Overall, between Interactive Investor and Lloyds Bank, Interactive Investor is the winner
Interactive Investor Review
Lloyds Bank Review