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Halifax Review
Vanguard ReviewHalifax Share Dealing Review
Written by Elizabeth Anderson
Fact-checked by Steven Hatzakis
Edited by Jeff Anberg
Elizabeth AndersonElizabeth Anderson is the lead writer and researcher for UK.StockBrokers.com. She has been a financial journalist for more than a decade and has written for major publications including BBC, The Times, and Bloomberg.
Your capital is at risk.
Halifax Share Dealing is most appealing to investors who value simple, predictable fees and want a low-cost way to hold larger portfolios. Its flat annual management charge of £36 for ISAs and general investment accounts, and the capped SIPP fee of £198, can offer excellent value compared with platforms that charge a percentage of your holdings.
However, the platform is not very modern and offers very limited tools and materials. Dealing fees are on the high end for share and fund trading, although regular dealing is free. As a result, Halifax may not be the best fit for active traders or investors who want a modern, feature-rich platform. Depending on how often you trade and the type of account you need, there are cheaper and more comprehensive alternatives worth considering.
-
Minimum Deposit:
£0 -
ISA:
Yes -
SIPP:
Yes
| Investment Choices | |
| Charges & Fees | |
| Website | |
| Education | |
| Mobile App | |
| Ease of Use |
Check out UK.StockBrokers.com's picks for the best investment platforms in 2025.
| 2025 | #19 |
| 2024 | #15 |
| 2020 | #9 |
Why you can trust us
Led by Elizabeth Anderson, Lead Writer and Researcher, the UK.StockBrokers.com research team collects data and tests products on an ongoing basis. We review the tools and features most important to U.K. investors – including beginners, casual investors, passive investors, and active traders.
We collect and track data on trading charges, fees, and interest rates to make it easier to understand the cost of investing in the U.K. We analyze a wide range of savings and investment offerings, like ISAs, SIPPs, investment portfolios, pensions, and active trading accounts. We hand-collect and audit data across more than 50 variables in our coverage of the best U.K. investment platforms.
Our researchers open personal brokerage accounts and test all available platforms on desktop, web, and mobile for each broker reviewed on UK.StockBrokers.com. Learn more about how we test.
Table of Contents
Pros & cons
Pros
- Transparent pricing with no inactivity fees.
- Free monthly investing for regular contributions.
- No admin fee for investors aged 18 to 25.
Cons
- Limited tools and research for informed decision-making.
- Mobile app feels dated and lacks key functions.
- Onboarding is slow if you're not a Halifax customer.
My top takeaways for Halifax in 2025:
- Halifax offers a "Ready Made Investment Account" or ISA for people who don’t want to pick their own investments.
- The Halifax app is fairly basic, but it’s easy enough to buy shares, funds, and investment trusts through the app.
- The Halifax Share Dealing account sits within the general Halifax banking app. You'll need to apply for an online account, and in some cases, security details need to be sent by post before you can start trading.
- Halifax Share Dealing has low annual management charges of £36 for an ISA or a £198 cap for its SIPP, which makes the platform very economical for those with large investment portfolios.
- FX fees are on the higher end, at 1.25% on currency conversions when buying overseas shares.
Halifax fees
Halifax can be cost-effective for investors who use regular dealing or trade international shares, but its standard dealing fees are high compared with many modern platforms. The value you get largely depends on how frequently you trade and whether you’re investing in U.K. or overseas markets.
Halifax’s biggest cost advantage is its free regular dealing, meaning there are no trading charges if you commit to buying the same investment each month through direct debit.
If you don't invest regularly, then trading fees could be on the high side, especially if you're only investing a small amount. It costs £9.50 per transaction for U.K. shares, ETFs, and bonds. Halifax also charges this fee for funds, which are free to trade on many other platforms.
It's worth nothing, though, that Halifax doesn't charge for international investment trades such as buying U.S. stocks, although a currency conversion fee of 1.25% is applied. This 1.25% is on the high side, as other platforms typically charge 1% or less.
An upside of Halifax is that you don’t need a significant lump sum to start investing. You can either pay in an amount of your choosing upfront, or you can set up regular dealing from £20 a month.
Halifax also offers Commission Countdowns on selected days each month, where dealing commission for U.K. stocks is reduced to £3.50 over a two-hour time period.
There is an annual management charge of £36 to hold an ISA or general investment account with Halifax, which is the same as sister platform Lloyds. Halifax is owned by Lloyds Banking Group, which owns the Lloyds, Halifax, and Bank of Scotland brands.
Flat fees versus fees by percentage
The annual management charges at Halifax can work out to be very cheap for people with large portfolios. For example, if you held £100,000 in funds in the Halifax ISA, you’d pay a flat £36 a year in management charges to Halifax (although separate fund manager fees apply). In comparison, if you held £100,000 with Hargreaves Lansdown, which charges a 0.45% annual management fee for mutual funds, you’d pay management fees of £450.
The fee for holding a SIPP with Halifax is 0.25% or capped at £16.50 a month, whichever is lower, which effectively means management fees are capped at £198 a year. This makes Halifax very competitive for pension or SIPP charges. The platform charge is effectively flat at £198 a year for SIPP holdings of around £80,000 and above.
Halifax is also attempting to appeal to younger investors by offering no admin fee for its 18-25 Investing Accounts, although dealing fees still apply.
| Feature |
 Halifax
|
|---|---|
| Minimum Deposit | £0 |
| Share Trading: 0-9 Deals/ Month | £9.50 |
| Share Trading: 10-19 Deals/ Month | £9.50 |
| Share Trading: 20+ Deals/ Month | £9.50 |
| Annual Platform Fee (Funds): £0 - £250,000 | £36 |
| Annual Platform Fee (Funds): £250K-£500K | £36 |
| Annual Platform Fee (Funds): £500,000 - £1m | £36 |
| Annual Platform Fee (Funds): £1m and over | £36 |
| Bonds - Corporate - Fee | £9.50 |
| Bonds - Government (Gilts) - Fee | £9.50 |
| ETFs - Fee | £0 / £3.50 / £9.50 |
| Investment Trusts - Fee | £0 / £3.50 / £9.50 |
| Telephone Dealing Fee | £25 |
What type of trader are you?
New to the world of investing? See my picks for the best UK trading platforms for beginners. More experienced traders should check out my guide to the best UK Trading Platforms for Active Traders. If you're looking to trade shares on the go, read my guide to the best UK stock trading apps.
Range of investments
Halifax offers an impressively broad range of investments, making it a strong option for investors who want plenty of choice without needing a specialist platform. The selection is wide enough for most everyday investors, although those wanting access to more exotic markets or advanced products may still prefer more comprehensive global brokers.
Halifax offers a choice of more than 8,000 investments, including 4,500 stocks, 761 ETFs, 258 investment trusts, and 2,500 mutual funds, as well as bonds, gilts, and ready-made portfolios.
To help narrow down fund choice, I like the way Halifax lets you filter by categories such as global, emerging markets, bonds, or gilts. Halifax also offers an ETF Quicklist, which lists 14 U.K. ETFs based on themes such as clean energy or AI to make it easier to get started with fund investing.
Halifax also offers a "Ready Made Investment Account,"ISA, or pension for people who don’t want to pick their own investments. Investors have to commit to paying £50 a month or a £500 lump sum for a ready-made ISA or general account, or a higher amount of £5,000 or a £150 monthly payment for the pension. There are three options to choose from: Cautious, Balanced, or Progressive, each geared to those risk levels. The fees for the ready-made investments are £3 per month plus ongoing charges of around 0.1% annually, which is among the lowest fees of brokers we review for ready-made portfolios.
Additionally, if you prefer tailored investment advice and have £100,000 in savings, investments, or income, then Halifax has partnered with Schroders Personal Wealth to offer financial planning.
Halifax offers a wide range of more than 8,000 investments in total, from shares and ETFs to mutual funds and bonds.
| Feature |
Halifax
|
|---|---|
| Share Trading | Yes |
| CFD Trading | No |
| ETFs | Yes |
| Mutual Funds | Yes |
| Bonds - Corporate | Yes |
| Bonds - Government (Gilts) | Yes |
| Investment Trusts | Yes |
| Spread Betting | No |
| Crypto Trading | No |
| Advisor Services | Yes |
Halifax ISA review
Halifax offers a solid ISA selection at competitive prices, making it a strong option for long-term investors who want simple, low-cost access to the markets. Its flat £36 annual fee and free regular investing make the stocks and shares ISA especially appealing for those building a portfolio over time. However, limited ISA types and higher ad-hoc trading fees mean it may not suit every investor.
Halifax provides both cash ISAs and stocks and shares ISAs, though the range is narrower than some competitors. The platform does not offer lifetime ISAs or innovative finance ISAs, and it only accepts new applications for junior cash ISAs, not junior investment ISAs.
Halifax offers two types of stocks and shares ISA: its DIY Stocks and Shares ISA, where you choose your own investments, or its Investment ISA, where you have the choice of three ready-made funds.
Through the DIY Stocks and Shares ISA, you can open one starting from just £1 and get access to Halifax’s full range of shares, ETFs, mutual funds, investment trusts, bonds and gilts. Charges are £3 a month (£36 a year), or this fee is waived if you’re aged 18 to 25. Scheduled regular investing means you won’t pay any commission on trades. If you invest ad-hoc, you’ll pay £9.50 per trade for U.K. shares and funds, and £0 for international shares.
With the Investment ISA, charges are again £3 a month (£36 a year) and ongoing fees of 0.1% annually for the ready-made funds, with an additional small transaction cost. You have the choice of three funds to pay into: cautious, balanced or adventurous. They are invested in a range of assets including shares, property, emerging markets and money markets. The minimum investment for the Halifax Ready-Made Investment ISA is a £500 lump sum or regular payments of £50 a month.
Halifax’s fees are on the low side, particularly for the ready-made portfolios. If you’re looking for a simple way to invest, then Halifax offers a way to get instant portfolio diversification at a very low fund cost for a £3 monthly fee.
Mobile trading app
The Halifax share dealing app is fairly basic, but it’s easy enough to buy shares, funds and investment trusts through the app, as long as you already know what you want to buy, as there is limited investment inspiration in the app. There are also no chart tools or research reports available through the app, so you’ll need to go through the main website or the websites of other platforms if you want more information about potential investments.
You need to have registered for online banking first before logging into the mobile app, although you don’t need to have a bank account with Halifax. Registering for online banking may involve creating a separate password and username, as some special characters are recognised in the Share Dealing service but not the banking app, so it can get confusing.
Your Halifax Share Dealing account sits within the general Halifax banking app and needs to have been funded (have money put in) before it will show through the app. It can sometimes take a couple of days for your account to show up. Opening an account through Halifax can be frustrating if you are looking to trade quickly.
Because Halifax Share Dealing and Lloyds Share Dealing are part of Lloyds Banking Group, you can also see your Lloyds Share Dealing account through the Halifax app’s Save & Invest tab. However, you can’t manage your Lloyds account through the Halifax app.
There is also a save and invest calculator offered by Halifax in the app, which shows you what your money could be worth in the future by investing. It’s also easy to see the five Halifax account options in the app, including the share dealing account, SIPP, or ready-made investments.
The Halifax Share Dealing account sits within the main Halifax banking app and is very limited in content, but allows you to do the trading basics.
Trading platforms
Halifax’s trading platform is one of the weakest aspects of its offering. The website feels dated, lacks intuitive navigation, and offers very limited tools for research or investment discovery. While it covers the basics, it is not well suited to investors who want modern charting features, market data, or inspiration for new ideas.
When you log in, you’ll see the overall value of your account and how much cash is available to invest. You’ll also be given the date of the next Commission Countdown when trading fees are reduced to £3.50 over a two-hour window.
Investment information and news are not featured on the home page, and it’s not easy to search for stocks by index or market. You have to put in the company name or stock ticker directly. It means you have to know what you are searching for, and it’s difficult to get inspiration for new investments.
Elizabeth's take:
"In my experience, the website is prone to crashes and error messages, particularly when setting up an account."
Research is not available through your Halifax Share Dealing account, but you are directed to the general Halifax website for key financial information about particular companies or funds. There are also no chart tools in the Share Dealing account. However, you can access advanced charts on the main Halifax website, without needing to be logged in, by selecting individual stocks or investments. Here, you can add text to a chart, add indicators, or make other annotations, but you can't overlay companies or indices on the same chart.
For investors seeking further research material and chart tools, or active traders looking for live prices and lower FX fees, I would recommend either Interactive Brokers, Saxo, or IG.
Education
The educational materials available at Halifax are not as extensive as those offered by other platforms. However, Halifax offers good basic articles on its website around how investments, including ETFs, trusts, funds, and shares work. As an example, Halifax provides a YouTube video demonstrating how the Share Dealing platform works.
In my view, Halifax could improve the educational resources on its app, as currently there are none. It would be useful to get investment inspiration or to read guides about how investing works. Currently, these are only available on the website.
However, there are some useful calculators on the Halifax app and website, such as the Save & Invest calculator, which shows how your investment could grow.
The Save & Invest tool in the Halifax app shows investors how much their money could grow over time. For example, a £5,000 lump sum, with payments of £100 a month, could result in a total pot worth £46,672 after 15 years.
| Feature |
Halifax
|
|---|---|
| Education (Share Trading) | Yes |
| Education (Funds) | Yes |
| Education (Retirement) | Yes |
| Client Webinars | No |
| Client Webinars (Archived) | No |
Final thoughts
Halifax Share Dealing may be worth considering if you already have a current or savings account with the bank, and/or are looking for simple, low cost ready-made funds. However, if you aren’t already a Halifax customer, then other platforms, such as Hargreaves Lansdown, Trading 212, XTB, Freetrade, or AJ Bell, are much simpler to register with and have more in-depth research content and educational material. Other platforms also have cheaper trading fees if you trade irregularly and only have a small amount to invest.
The best feature about Halifax Share Dealing is its low annual management charges of £36 for an ISA (waived if you're under 25) or up to £198 for a SIPP, which makes the platform very economical for those with a large investment portfolio. Some other platforms charge percentage fees instead, which can end up more costly.
Halifax Star Ratings
| Feature |
Halifax
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|---|---|
| Overall Rating |
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| Charges & Fees |
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| Investment Choices |
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| Mobile App |
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| Website |
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| Ease of Use |
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| Education |
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Our testing
Why you should trust us
Elizabeth Anderson has been a financial journalist for more than a decade. She’s written for major national newspapers, contributed to corporate reports and research, and reviewed dozens of share dealing platforms, SIPP providers, ISAs, and brokerage firms. Elizabeth started her career at Bloomberg and has worked for the BBC, The Telegraph, The Times and the i newspaper. She is passionate about helping people understand finance and investing. A keen investor herself, Elizabeth invests through general dealing accounts, ISAs and several SIPPs.
All content on UK.StockBrokers.com is handwritten by a writer, fact-checked by a member of our research team, and edited and published by an editor. Our ratings, rankings, and opinions are entirely our own, and the result of our extensive research and decades of collective experience covering the U.K. brokerage industry.
Ultimately, our rigorous data validation process yields an error rate of less than .1% each year, providing site visitors with quality data they can trust. Click here to learn more about how we test.
How we tested
At UK.StockBrokers.com, our online broker reviews are based on our collected quantitative data as well as the observations and qualified opinions of our expert researchers. Each year we publish tens of thousands of words of research and collect hundreds of data points while testing brokerage firms, share dealing platforms, SIPP providers, ISA providers, and other financial service providers relevant to U.K. investors.
Mobile testing is conducted on modern devices that run the most up-to-date operating systems available:
- For Apple, we use MacBook Pro laptops running the latest version of and the iPhone 15 running the latest version of iOS.
- For Android, we use the Samsung Galaxy S23 Ultra devices running Android OS 14.
All websites and web-based platforms are tested using the latest version of the Google Chrome browser.
Our researchers thoroughly test a wide range of key features, such as the availability and quality of trading platforms for web, desktop, and mobile, charting, real-time and streaming quotes, and educational resources – among other important variables. We also evaluate the overall design of the mobile experience, and look for a fluid user experience moving between mobile and desktop platforms.
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About Halifax
The Halifax share dealing account is run by Halifax, a major U.K. bank. Halifax bank dates back to 1852, initially launching as a building society. Its investment arm Halifax Share Dealing launched in 1996. It is now part of Lloyds Banking Group, which also owns the Lloyds Bank and Scottish Widows brands, among others. Being owned by Lloyds Banking Group, Halifax is among the five largest banks in the U.K. with the group having around 27 million customers.
About the Editorial Team
Elizabeth Anderson, lead writer and researcher, has been a financial journalist for more than a decade. In addition to her work with UK.StockBrokers.com, she has written extensively for major publications including BBC, The Times and Bloomberg. A keen investor herself, she is passionate about helping people understand finance and investing.
Steven Hatzakis is the Global Director of Online Broker Research for UK.StockBrokers.com and ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. Steven is an active fintech and crypto industry researcher and advises blockchain companies at the board level. Over the past 20 years, Steven has held numerous positions within the international forex markets, from writing to consulting to serving as a registered commodity futures representative.
Jeff Anberg is a Senior Editor at UK.StockBrokers.com. Along with years of experience in media distribution at a global newsroom, Jeff has a versatile knowledge base encompassing the technology and financial markets. He is a long-time active investor and engages in research on emerging markets like cryptocurrency. Jeff holds a Bachelor’s Degree in English Literature with a minor in Philosophy from San Francisco State University.