XTB vs Lloyds Bank 2024

XTB has set itself up as a strong competitor in commission-free share trading. Its low fees and solid educational content will make XTB particularly attractive to newer investors. It does not, however, offer an ISA or SIPP.

It's easy for current Lloyds Bank customers to open a Lloyds Bank Share Dealing investment account. But there are other platforms that are easier, more comprehensive and cheaper to use, including Halifax, which is also owned by Lloyds Banking Group.

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, XTB 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 - XTB would cost £0 per year, while Lloyds Bank would cost £40 - £95 per year.

12 trades per year - XTB would cost £0 per year, while Lloyds Bank would cost £40 - £172 per year.

36 trades per year - XTB would cost £0 per year, while Lloyds Bank would cost £40 - £412 per year.

120 trades per year - XTB would cost £0 per year, while Lloyds Bank would cost £40 - £1084 per year.

3 fund trades per year - XTB would cost £0 per year, while Lloyds Bank would cost £0 per year.

XTB requires a minimum deposit of £0, while Lloyds Bank requires a minimum deposit of £0. From our testing we found for accounts between £0 - £250,000 XTB charges annual custody fees of 0, while Lloyds Bank charges annual custody fees of £40.

XTB offers investors access to Share Trading, CFD Trading, Funds, ETFs and Spread Betting, while Lloyds Bank offers investors access to ISA, Share Trading, Funds, ETFs, Bonds - Corporate, Bonds - Government (Gilts) and Investment Trusts. Neither have SIPP, Crypto Trading and Advisor Services. Investing encompasses a wide variety of asset classes, so finding a broker that offers every investment type you are interested in is important.

Self-invested personal pensions (SIPPs) and individual savings accounts (ISAs) are tax-advantaged savings accounts that are an important tool for many individual investors. You can read more about how these accounts operate at Gov.UK: Click here for SIPP information and here for ISA information. Our analysis finds that XTB offers traders access to neither of these accounts, while Lloyds Bank offers traders access to ISA accounts. Neither have SIPP.

In our analysis of top brokers for share dealing in the U.K., we research whether each broker offers the ability to trade cash cryptocurrency, such as bitcoin and ethereum, which is still a somewhat rare offering amongst major U.K. brokers. Our review finds that neither XTB nor Lloyds Bank offer crypto investing.

Our testing concluded that the website of XTB is better than the website of Lloyds Bank. XTB offers more functionality, is cleanly designed, and is, overall, easier to use for beginners and casual investors.

To compare the trading platforms of both XTB and Lloyds Bank, we tested each broker's stock trading app. All features compared, our analysis finds that XTB offers a better mobile app. Dive deeper: Best Stock Trading Apps UK.

Educational offerings are of particular importance to those who are newer to investing, and we examine the availability of several different types of educational materials in our analysis. Our research finds that XTB offers traders access to Client Webinars, Client Webinars (Archived), Education (Share Trading) and Education (Funds), while Lloyds Bank offers access to neither of these. Neither have Education (Retirement).